Clergy brace for downturn in giving

From the Boston Globe-

Many organizations are also already cutting. The Catholic Diocese of Worcester has imposed new restrictions on building projects. The Unitarian Universalist Association has put off planned maintenance work on its Beacon Hill headquarters. The Archdiocese of Boston has been steadily cutting staff. The Episcopal Diocese of Massachusetts has cut staff and spending. And religious colleges are cutting too, including, most recently, Gordon-Conwell Theological Seminary, an evangelical institution on the North Shore that announced Monday it was laying off employees and reducing spending.

Many clergy believe that religious philanthropy, especially at the local level, tends to be more resilient than other forms of charitable giving during a recession. But they note there is no exact precedent for the current economic crisis, making forecasting the impact this time speculative.

"Perception and fear are a greater concern now than the real economic problem, and the fear of things getting worse will probably dominate people's reaction," said Chuck Zech, a professor of economics who studies church finances at the Villanova School of Business.

http://www.boston.com/news/local/massachusetts/articles/2008/11/30/clergy_brace_for_downturn_in_giving/