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Posted: 2021-02-04T18:22:56Z | Updated: 2021-02-04T18:25:51Z

When the coronavirus forced churches to close their doors and give up Sunday collections, the Roman Catholic Diocese of Charlotte turned to the federal governments signature small business relief program for more than $8 million.

The dioceses headquarters, churches and schools landed the help even though they had roughly $100 million of their own cash and short-term investments available last spring, financial records show. When the cash catastrophe church leaders feared didnt materialize, those assets topped $110 million by the summer.

I am gratified to report the overall good financial health of the diocese despite the many difficulties presented by the Covid-19 pandemic, Bishop Peter Jugis wrote in the dioceses audited financial report released last fall.

As the pandemic began to unfold, scores of Catholic dioceses across the U.S. received aid through the Paycheck Protection Program while sitting on well over $10 billion in cash, short-term investments or other available funds, an Associated Press investigation has found. And despite the broad economic downturn, these assets have grown in many dioceses.

Yet even with that financial safety net, the 112 dioceses that shared their financial statements, along with the churches and schools they oversee, collected at least $1.5 billion in taxpayer-backed aid. A majority of these dioceses reported enough money on hand to cover at least six months of operating expenses, even without any new income.

The financial resources of several dioceses rivaled or exceeded those available to publicly traded companies like Shake Shack and Ruths Chris Steak House, whose early participation in the program triggered outrage. Federal officials responded by emphasizing the money was intended for those who lacked the cushion that cash and other liquidity provide. Many corporations returned the funds.

Overall, the nations nearly 200 dioceses, where bishops and cardinals govern, and other Catholic institutions received at least $3 billion. That makes the Roman Catholic Church perhaps the biggest beneficiary of the paycheck program, according to APs analysis of data the U.S. Small Business Administration released following a public-records lawsuit by news organizations. The agency for months had shared only partial information, making a more precise analysis impossible.

Already one of the largest federal aid efforts ever, the SBA reopened the Paycheck Protection Program last month with a new infusion of nearly $300 billion. In making the announcement, the agencys administrator at the time, Jovita Carranza, hailed the program for serving as an economic lifeline to millions of small businesses.

Church officials have said their employees were as worthy of help as workers at Main Street businesses, and that without it they would have had to slash jobs and curtail their charitable mission as demand for food pantries and social services spiked. They point out the programs rules didnt require them to exhaust their stores of cash and other funds before applying.

But new financial statements several dozen dioceses have posted for 2020 show that their available resources remained robust or improved during the pandemics hard, early months. The pattern held whether a diocese was big or small, urban or rural, East or West, North or South.