MinistryWatch Index Remains Flat in September
Year-to-date growth is about 8 percent, lagging major stock indices
ANALYSIS–The MinistryWatch Index inched up slightly during September but has remained mostly flat for the third month in a row.
That said, the less than .2 percent increase represents a new record for the index, which tracks revenue for 38 large Christian ministries in the nation. On October 1, the revenue of these ministries was approximately $9.9 billion.
Though there was no growth during September, this number represents 8 percent year-to-date, and up about 10.6 percent from its February low this year.
Though the organizations in the MinistryWatch Index have continued to grow this year, almost all of that growth took place in the first six seven months of the year. And this year’s 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. Another recent survey found that giving by evangelicals is down.
Access to MinistryWatch content is free. However, we hope you will support our work with your prayers and financial gifts. To make a donation, click here.
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 12 percent. The tech-heavy NASDAQ is up 23 percent for the year, though tech gains have been driven this year by surges in the “Magnificent Seven” stock – large technology stocks that have been aided by a rush to artificial intelligence investing. The S&P 500 index, perhaps the broadest measure of the overall market, is up 22 percent this year.
All the major indices have seen significant volatility this year. The Dow has seen two corrections this year greater than five percent, and the 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.
