$1,400,000,000 pandemic loan

[pescador]

The US Catholic Church received a $1,400,000,000 -- 1.4 Billion -- small business pandemic loan!! After lobbying for an exemption to what counts as a “small” business, Catholic dioceses and ministries were approved for at least 3,500 forgivable loans.

<staff edit> U.S. Catholic Church Won At Least $1.4 Billion In Pandemic Aid | HuffPost <staff edit>

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The U.S. Roman Catholic Church used a special and unprecedented exemption from federal rules to amass at least $1.4 billion in taxpayer-backed coronavirus aid, with many millions going to dioceses that have paid huge settlements or sought bankruptcy protection because of clergy sexual abuse cover-ups.

The church’s haul may have reached ― or even exceeded ― $3.5 billion, making a global religious institution with more than a billion followers among the biggest winners in the U.S. government’s pandemic relief efforts, an Associated Press analysis of federal data released this week found.

There is something terribly, terribly wrong here!! Shameful, greedy, sinful!!

 

[GodsGrace101]

Isn't the CC a non-profit organization?
If it pays no taxes,,,why should it get any aid?

 

[Nithavela]

The US Catholic Church received a $1,400,000,000 -- 1.4 Billion -- small business pandemic loan!! After lobbying for an exemption to what counts as a “small” business, Catholic dioceses and ministries were approved for at least 3,500 forgivable loans.

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The U.S. Roman Catholic Church used a special and unprecedented exemption from federal rules to amass at least $1.4 billion in taxpayer-backed coronavirus aid, with many millions going to dioceses that have paid huge settlements or sought bankruptcy protection because of clergy sexual abuse cover-ups.

The church’s haul may have reached ― or even exceeded ― $3.5 billion, making a global religious institution with more than a billion followers among the biggest winners in the U.S. government’s pandemic relief efforts, an Associated Press analysis of federal data released this week found.

There is something terribly, terribly wrong here!! Shameful, greedy, sinful!!

It's just good business.

 

[Michie]

No link.

 

[Michie]

Religious organizations across the U.S. have received at least $7.3 billion in federal rescue package loans, with evangelical leaders tied to President Donald Trump and megachurches tied to scandals pulling in some of the largest payouts.

Treasury Department data released Monday shows that religious organizations, ranging from nearly 10,000 Catholic churches to hundreds of Jewish groups, received 88,411 Paycheck Protection Program (PPP) loans since the program began April 3. Several churches affiliated with outspoken Trump supporters and close associates amassed at least $17.3 million in loans intended to help small businesses and nonprofits retain workers.

Continued below.
https://www.newsweek.com/religious-...ppp-loans-megachurches-amass-millions-1515963

 

[Michie]

Church entities receiving SBA loans to retain staff in pandemic’s fallout

Takeaways: Paycheck Protection loans and the Catholic Church

Many Houses Of Worship Have Sought Government Aid, Surveys Show

Pandemic Deepens Catholic Church’s Financial Crunch, From Vatican to Parishes

 

[pescador]

Isn't the CC a non-profit organization?
If it pays no taxes,,,why should it get any aid?

It shouldn't!! It's "highway robbery". The CC should repent!

An Associated Press analysis has found that a special exemption to the 500-employee cap set the stage for approval of at least $1.4 billion for groups affiliated with the Roman Catholic Church, making it one of the program’s big winners. Many of those millions are going to pay salaries and other expenses in dioceses that recently paid huge financial settlements to victims of clergy sexual abuse.

Lobbied by religious leaders, the Trump administration went one step further by granting all faith groups a special waiver to the 500-employee cap. For the Catholic Church, that meant instead of all churches, schools, and other organizations in a diocese grouping their employees into a single total -- making many ineligible due to their size -- each could apply as an independent, “small” entity.

As a result, AP found, at least 3,500 Catholic organizations qualified for loans that the government will forgive if recipients spend the money on payroll, rent, and utilities. Loans to Catholic entities that AP identified were worth at least $1.4 billion -- and as much as $3.5 billion.

That is certainly an undercount: A Catholic financial officers’ organization says a survey of its members tallied approximately 9,000 Catholic-affiliated recipients.

 

[essentialsaltes]

Non-profits were eligible (they have employees and bills to pay, too) and many religious groups got such aid.

Religious organizations, including churches and Christian non-profits, received at least $6-billion in COVID relief funds. The funds were a part of the Paycheck Protection Program run by the Small Business Administration, according to a list released by the SBA this week.

Some well-known names are on that list, including Willow Creek Community Church, Reformed University Fellowship, Mission Aviation Fellowship, prominent evangelical publisher David C. Cook, and Joyce Meyer Ministries. (A more complete list is below.)

Among the ministries receiving loans of between $5- and $10-million is Reformed University Fellowship (RUF) is a well-known campus ministry that is a subsidiary of the Presbyterian Church in America. It operates on more than 200 college campuses and other locations, mostly in the United States, but also abroad as well.

Also receiving at least $5-million in loans is Willow Creek Community Church, whose attendance and financial problems have been covered recently by MinistryWatch.

Joyce Meyer Ministries also received a PPP loan of at least $5-million, as did Oklahoma City-based Life Church, led by pastor Craig Groeschel. New Life Church, an evangelical megachurch in Conway, Arkansas, received between $2- and $5-million in PPP funds.

Other well-known churches and ministries receiving at least $2-million in funds include: Jews for Jesus, Mariners Church (Irvine, Calif.), Shadow Mountain Community Church (led by well-known radio and TV preacher David Jeremiah), David C. Cook (a large evangelical book and music publisher), Ligonier Ministries (founded by R.C. Sproul), 12Stone Church (an Atlanta megachurch), Mission Aviation Fellowship, Harvest Bible Chapel (formerly led by James MacDonald), Kanukuk Ministries (which operates Christian summer camps near Branson, Mo.), Elevation Church (led by Steven Furtick), Summit Church (led by Southern Baptist Convention President J.D. Greear), Redeemer Presbyterian Church (formerly led by pastor and best-selling author Tim Keller), Potters House (T.D. Jakes) and Oak Cliff Bible Church (Tony Evans).

 

[GodsGrace101]

It shouldn't!! It's "highway robbery". The CC should repent!

An Associated Press analysis has found that a special exemption to the 500-employee cap set the stage for approval of at least $1.4 billion for groups affiliated with the Roman Catholic Church, making it one of the program’s big winners. Many of those millions are going to pay salaries and other expenses in dioceses that recently paid huge financial settlements to victims of clergy sexual abuse.

Lobbied by religious leaders, the Trump administration went one step further by granting all faith groups a special waiver to the 500-employee cap. For the Catholic Church, that meant instead of all churches, schools, and other organizations in a diocese grouping their employees into a single total -- making many ineligible due to their size -- each could apply as an independent, “small” entity.

As a result, AP found, at least 3,500 Catholic organizations qualified for loans that the government will forgive if recipients spend the money on payroll, rent, and utilities. Loans to Catholic entities that AP identified were worth at least $1.4 billion -- and as much as $3.5 billion.

That is certainly an undercount: A Catholic financial officers’ organization says a survey of its members tallied approximately 9,000 Catholic-affiliated recipients.

I agree.
If you want to take deductions OR get benefits,,,then the gain should be taxed.

But I do not believe churches should pay taxes.
But they should also not get benefits....

Ditto for Catholic schools.