MinistryWatch Index Flat for August

Index tracks revenue of large Christian ministries

ANALYSIS–The MinistryWatch Index inched up slightly in August but has remained mostly flat this summer.

That said, the less than 1 percent increase, to 156, represents a new record for the index, which tracks revenue for 38 of the largest Christian ministries in the nation. On August 1, the revenue of these ministries was $9.9 billion.

Though there was no growth during July, this number represents 10.6 percent year-to-date.

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Though the organizations in the MinistryWatch Index have continued to grow this year, that growth significantly lags last year’s rise. In 2023 the Index grew 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.)

Year to date, the Dow Jones Industrial Average is up about 8.2 percent. But 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.