Methodology • How did The Globe measure the Catholic Church’s money?
The Catholic Church in Canada has billions of dollars in assets across the country, a Globe and Mail investigation has found, suggesting it has ample means to help in reparations for Indigenous communities and reconciliation efforts to address the legacy of residential schools and the abuse that thousands of children suffered there.
To investigate its wealth, The Globe and Mail procured tax filings for thousands of Catholic Church organizations from the Canada Revenue Agency, and worked with the research organization Charity Intelligence Canada to arrive at an overall financial picture for the Roman Catholic Church in Canada.
The calculation reveals the vast combined assets of Catholic organizations in the country. In all, 3,446 registered Catholic Church charities – mostly dioceses and parishes – received a total of $886-million in donations in 2019, making them combined the largest charitable organization in the country. All told, 2019 net assets – the sum of cash, investments, property and other holdings, after accounting for liabilities such as debts and loans – are valued at a minimum of $4.1-billion. (The number does not account for the assets of Catholic organizations such as monasteries.)