Here’s a maddening pandemic fact: Catholic dioceses in the U.S. and other institutions backed by the Catholic Church took more than $3 billion in taxpayer-funded government aid as part of the Paycheck Protection Program (PPP), according to an investigation by the Associated Press. That appears to make the Roman Catholic Church the single largest beneficiary of the emergency aid program. While availing upon taxpayer-funded payments, designed to keep small businesses afloat and employees in their jobs during economic shutdowns, the AP reports the Catholic Church was sitting on $10 billion in cash, short-term investment, and other available funds.

The financial statements of 112 dioceses showed that they—along with the churches and schools they operate—collected at least $1.5 billion in PPP funds, even though, the AP reports, most of those dioceses had enough cash reserves to operate for six months with no revenue coming in at all. The fact that the market quickly recovered—and then grew—meant that many of the dioceses relying on investment vehicles likely made money on the pandemic. The Archdiocese of Chicago, for example, had more than […]