U.S. bishops post $43.6M gain despite refugee-program revenue plunge

The U.S. Conference of Catholic Bishops reported a $43.6 million increase in net assets between 2024 and 2025, according to recent financial audits. The conference ended 2025 with $383.9 million in net assets, up from $340.4 million the previous year.

Chieko Noguchi, a spokesperson for the conference, attributed the growth primarily to the performance of a long-term investment pool. This pool earned $16.3 million in interest and dividends and saw $27.2 million in unrealized gains from positive market performance, resulting in a 15.2% total return.

The increase occurred even as funding for refugee programs dropped from $180.46 million to $72.23 million. The conference stated it did not renew refugee resettlement agreements after a federal suspension of grants made the programs financially unsustainable. This contraction led to a reduction in staff and caused total operating expenses to fall by approximately $100 million.