USCCB reports $2M operating deficit; assets increase because of investments
September 04, 2024
» Continue to this story on USCCB
CWN Editor's Note: The United States Conference of Catholic Bishops has published its audited financial statements for 2023.
The USCCB and its affiliates had $245.8 million in operating revenue and $247.8 million in operating expenses in 2023 (p. 4), compared to $275.4 million in operating revenue and $245.4 million in operating expenses in 2022 and $203.1 million in operating revenue and $171.6 million in operating expenses in 2021.
However, net assets rose $268.4 million in 2022 to $304.9 million in 2023, principally because of a $38.7 million gain in long-term investments (p. 3).
53% ($129.6 million) of the USCCB’s operating revenue in 2023 came from government grants and contracts, all of which are for migration and refugee programs (pp. 4, 14). Likewise, 51% ($124.9 million) of the USCCB’s operating expenses in 2023 were devoted to migration and refugee services.
The above note supplements, highlights, or corrects details in the original source (link above). About CWN news coverage.
For all current news, visit our News home page.
All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a current donor, log in to see the comment form; otherwise please support our work, and Sound Off!
