ANALYSIS–The MinistryWatch Index remained essentially flat during the month of December, at 152, though it was up 7.23 percent for the year.
The MinistryWatch Index is based on the revenue of 38 large Christian ministries, ministries that represent all of the 21 ministry segments tracked by MinistryWatch.
This month’s sideways move means that the MinistryWatch Index has been essentially unchanged after a significant drop in October due to the release of new financial information from four of ministries that saw declines in revenue from 2022 to 2023. Those ministries are:
Samaritan’s Purse $110,535,545 decline in revenue
Church World Service $66,448,128 decline in revenue
Children’s Hunger Fund $42,160,540 decline in revenue
Food for the Poor $37,432,943 decline in revenue
That said, most ministries that make up the MinistryWatch Index continued to grow in 2024, though this year’s 7.23 percent growth is far less than 2023’s 24.1 percent.
The relatively slow growth of the MinistryWatch Index for 2024 could suggest concern about the future of the economy.
A recent survey conducted by MinistryWatch of ministry executives found that fundraising has now replaced finding and recruiting staff as their top leadership concern. This concern seems well-founded. A recent survey found that giving by evangelicals is down.
Other studies, especially those by Giving USA, suggest that philanthropic giving correlates closely to the rise and fall in value of the major stock markets. (Note that this relationship is correlative and not causative.)
The stock markets saw significant growth in 2024, with all three major indices (Dow, S&P, and Nasdaq) hitting record levels. Over the past 12 months, the Nasdaq Composite grew 30 percent, though much of that growth came from a relatively small number of technology stocks. The S&P 500 climbed over 24 percent. The blue-chip Dow Jones had more measured growth of about 13 percent. All the major indices saw significant volatility in 2024. The Dow saw two corrections this year greater than five percent, and the tech-heavy NASDAQ fell 12 percent from mid-July to early August, though it has since recovered those losses.
To read more about how we compile the MinistryWatch Index, click here.