Aleteia logoAleteia logo
Monday 23 November |
Saint of the Day: Bl. Miguel Pro
home iconNews
line break icon

The Knights of Columbus is stepping up to help dioceses affected by the coronavirus



Patty Knap - published on 05/29/20

Individual dioceses can apply for up to $1 million in a line of credit, with up to $100 million in lines of credit available to dioceses suffering from a lack of donations due to COVID-19 shutdowns. 

The investment arm of the Knights of Columbus hopes to fill in the gap for dioceses suffering a financial loss with church doors closed.
“When you don’t have Mass, not everybody is necessarily thinking, ‘Gosh, father needs money for keeping the lights on,’” said Tony Minopoli, the president and chief investment officer of The Knights of Columbus Asset Advisors, a wholly-owned subsidiary of the Knights of Columbus.
Individual dioceses can apply for up to $1 million in a line of credit, with up to $100 million in lines of credit available to dioceses suffering from a lack of donations due to COVID-19 shutdowns.
Many parishes have urged parishioners to continue making weekly donations either by dropping off an envelope at the rectory, or by utilizing an online giving method such as FaithDirect. However the drop in donations has been significant for most parishes, up to 50% the Archdiocese of New York, for example.
“The church is largely in the same situation as many, many small businesses,” Minopoli said, “as both small businesses and churches are looking at how they can stay afloat until daily life returns to normal.”
The short-term lines of credit carry a roughly 2 percent interest rate for two years. At the end of the term, borrowers can convert the balance to a five-, 10- or 20-year fixed-rate, low-interest loan similar to the type that the Knights of Columbus have offered to Catholic entities since 1896, Minopoli told Fox News.
“It is critical for us to support the Catholic Church in the United States at this time, so that the Church can continue to provide irreplaceable spiritual and charitable support, and can keep the staff supporting its mission and outreach employed,” noted Supreme Knight Carl Anderson. “Our fund is designed specifically to help dioceses and their parishes weather this pandemic financially so that they can continue their important work – now and after the pandemic.”
CharityCoronavirusKnights of Columbus
Support Aleteia!

If you’re reading this article, it’s thanks to the generosity of people like you, who have made Aleteia possible.

Here are some numbers:

  • 20 million users around the world read every month
  • Aleteia is published every day in eight languages: English, French, Arabic, Italian, Spanish, Portuguese, Polish, and Slovenian
  • Each month, readers view more than 50 million pages
  • Nearly 4 million people follow Aleteia on social media
  • Each month, we publish 2,450 articles and around 40 videos
  • We have 60 full time staff and approximately 400 collaborators (writers, translators, photographers, etc.)

As you can imagine, these numbers represent a lot of work. We need you.

Support Aleteia with as little as $1. It only takes a minute. Thank you!

Daily prayer
And today we celebrate...

Top 10
Zoe Romanowsky
20-year-old filmmaker wins award for powerful...
Theresa Civantos Barber
5 Quotes from the saints to help you deal wit...
Kathleen N. Hattrup
Learn to pray with Mary with these 12 insight...
Giuseppe Moscati
Larry Peterson
A volcano, a plague, a war: This doctor-saint...
J-P Mauro
Cardinal calls Catholics to attend global Euc...
Luz Ivonne Ream
What’s the secret of this couple’s 64 years o...
Philip Kosloski
Padre Pio's favorite prayer of petition
See More
Get Aleteia delivered to your inbox. Subscribe here.