Just as it was in much of American society this past year, the financial toll exacted by the coronavirus pandemic affected poor parishes and dioceses more starkly than it did larger and more well-to-do Catholic institutions.
Poorer parishes, dioceses take a bigger hit from pandemic
Employee Retention Credit webinar set for Feb. 17
The Finance Office of the Diocese of St. Cloud and CliftonLarsonAllen, LLP, will host a free webinar at 11 a.m., Wednesday, Feb. 17, to discuss the Employee Retention Credit and the second round of Paycheck Protection Program loans.
Dioceses dispute conclusions, methods of AP report on pandemic funding
Congress first approved PPP funding April 22, 2020, as part of a pandemic relief bill and authorized a second round of PPP loans Dec. 27, 2020.
Coakley: Loans keep ‘essential ministries’ going during national emergency
The chairman of the U.S. bishops’ domestic policy committee said the federal emergency “bridge loans” that dioceses, parishes and other Catholic entities applied for provided a lifeline, allowing “our essential ministries to continue to function in a time of national emergency.”
20% of church entities that applied received SBA loans to maintain staff
The funding is part of a $484 billion emergency relief measure developed in response to the economic fallout caused by the spread of COVID-19, the illness caused by the novel coronavirus.