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Cardinal Dolan: Hoping churches are ‘back to normal’ by end of summer
New York Archbishop Cardinal Timothy Dolan shares insights into reopening Catholic schools and churches, worshiping during the coronavirus and the recent vandalism of St. Patrick’s Cathedral.
In a 2012 study conducted by the University of Tampa, combined tax subsidies that religious institutions had taken advantage of were estimated to be equivalent to around $71 billion per year, according to sociologist Ryan T. Cragun and his two students, Stephanie Yeager and Desmond Vega.
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HERE'S HOW MUCH MONEY THESE MEGACHURCHES BRING IN ACROSS THE US
The estimate includes subsidies for federal and state income tax, property tax, investment tax, parsonage and faith-based initiatives. The study, however, could not pinpoint subsidy estimates for local income, sales tax, donor tax and more, which left the report stating that there are “probably billions more” unaccounted for.
A separate report from The Washington Post the following year attempted to close the gap in the study and estimated that religious groups get around $83.5 billion in subsidies.
CATHOLIC CHURCH WON $1.4B IN TAXPAYER-FUNDED CORONAVIRUS AID
“Adjusting for inflation and removing things like Bush-era, faith-based initiatives funding from the equation, my own best guess would be around $100 billion per year,” Michael Montgomery, the owner and principal of Montgomery Consulting Inc., told FOX Business.