MinistryWatch Index Fell in October
Could a drop be a sign of economic trouble ahead?
ANALYSIS–The MinistryWatch Index fell 2.69 percent during the month of September. It was the first monthly drop this year and the biggest one month drop since the beginning of the survey in 2015.
The MinistryWatch Index is based on the revenue of 38 of the largest Christian ministries in the nation, ministries that represent all of the 21 ministry segments tracked by MinistryWatch. The drop in October was due to the release of new financial information from four of these 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
Despite this decline, most ministries that make up the MinistryWatch Index continue to grow, albeit much more slowly than in 2023. In 2023 the Index grew 24.1 percent. This year that growth has been 7.8 percent.
The relatively slow growth of the MinistryWatch Index for 2024 could suggest concern about the future of the economy.
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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 have experienced a recent surge, with all three major indices (Dow, S&P, and Nasdaq) hitting record levels. However, year to date through October 31 (the period tracked by the MinistryWatch Index), the Dow Jones Industrial Average was up just 10.9 percent. All the major indices have seen significant volatility this year. The Dow has seen 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 most of those losses.
To read more about how we compile the MinistryWatch Index, click here.
