The National Cathedral in Washington, DC is in the midst of a $10 million annual budget crunch as the Episcopal Church tries to make ends meet amid rising church attendance and declining revenue.
The Episcopal Church has struggled to meet growing membership and revenue projections for the upcoming decade, as it struggles to stay financially sustainable in the face of a shrinking global church.
As a result, its finances are in a precarious spot, as the Cathedral’s annual operating budget is already set to shrink by $2.5 million, the New York Times reported.
The Cathedral has been cutting the number of sermons and services at a rate of one per week in the past year, as its monthly average attendance has plummeted from about 500,000 in the 1990s to about 250,000 today.
And with the Cathedral set to lose roughly 10 percent of its yearly operating budget, it’s expected to see a significant reduction in services in the coming years.
For its part, the Episcopal Cathedral of St. Paul and Minneapolis announced last month that it will be cutting sermons by up to 25 percent for the coming year.
“Our sermons are the backbone of our work.
They’re a crucial part of our identity as an institution,” the cathedral’s President James W. Jones said in a statement.
“We are working to ensure that we can maintain our sermons at the level we want them to be, while addressing the challenges that the global world confronts.”
The Cathedral also announced that its yearly budget will be cut by more than $500,000, to $6.2 million, and that the Cathedral will need to find a new home for its sermons.
The Episcopal Church is not alone in struggling to keep up with an aging and shrinking global membership.
According to a recent study from the Pew Research Center, the global number of people ages 18-34 in church has declined from 2.7 billion in 2000 to 1.5 billion today.
The Pew study also found that the number who attend services weekly has been declining for the past five years, as people increasingly turn to social media and apps for news and information.
As more people turn to online news sources and social media, the number and share of worship services has fallen, and the number for Sunday services has increased.
Despite these challenges, the Catholic Church is taking a cautious approach to its declining finances.
The Vatican has cut its annual expenses by $4 million in recent years, with the Church’s finances set to begin to shrink after the next financial year.
And in September, Pope Francis announced that the Church would no longer seek approval to reduce its annual budget in line with the economic downturn.
However, Francis has yet to set a specific budget, so the Pope will have to decide what to do with his new budget in the future.
While the Church has taken a cautious stance on its finances, it has not gone so far as to cut services in general.
The Archdiocese of Washington, which is based in Seattle, announced in September that it would be reducing services in a number of areas, including the daily Mass, the weekly services and the regular Sunday Mass.
In November, the Archdiocesan Board of Trustees announced that it was cutting the services of about 700 priests, and also cutting the regular Mass.
The Church also announced in November that it planned to end regular Sunday mass.
In December, the National Shrine of the Immaculate Conception announced that all services would be suspended in its parishes for the next few years, except for the annual Sunday Mass and Friday services.
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