Religious, Grantmaking, Civic, Professional, and Similar Organizations (U.S.) — NAICS 813

A rollup primer for a general investing audience — public-market and private investors.

What this page is. NAICS 813 is a three-digit subsector of the North American Industry Classification System (NAICS), the U.S. government's standard scheme for classifying businesses by activity. It is the "membership and mission" economy: the churches, foundations, charities, cause groups, clubs, unions, trade associations, and homeowners' associations that Americans join, fund, and are served by. It has five child industry groups — 8131, 8132, 8133, 8134, 8139 — and this primer's distinctive job is the contrast across them: how they differ in size, momentum, who "owns" them, and how (if at all) an investor can get exposure. For the deep treatment of any one child, read its own primer.

1. Overview

NAICS 813 is where people and institutions organize around belief, generosity, cause, community, and shared interest. It gathers five very different fields under one legal roof:

• 8131 Religious Organizations — congregations and denominations (churches, temples, mosques, synagogues, dioceses).
• 8132 Grantmaking and Giving Services — foundations, disease charities, and federated fundraisers (the Gates Foundation, the American Cancer Society, United Way).
• 8133 Social Advocacy Organizations — cause groups (the American Civil Liberties Union, or ACLU; The Nature Conservancy; the National Rifle Association, or NRA).
• 8134 Civic and Social Organizations — membership clubs and lodges (Rotary, the Elks, the Veterans of Foreign Wars, college fraternities).
• 8139 Business, Professional, Labor, Political, and Similar Organizations — trade groups, professional societies, unions, political committees, and homeowners' associations (HOAs).

One fact governs every investment question at this level: essentially nothing in NAICS 813 is investable directly. Every operating entity is a tax-exempt, non-stock organization — a charity, a congregation, a member-owned club, a union, a foundation, an association. There are no shares, no dividends, and no acquirers. You cannot buy a church, the Gates Foundation, the ACLU, the Elks, the Teamsters, or your local HOA, and neither can anyone else.

Yet the flows are enormous and durable: ~$336.6 billion in measured receipts, ~2.68 million paid employees, and ~$117.6 billion of annual payroll [2][3], sitting on top of an even larger base of donations, endowment assets, dues, and volunteer labor that the federal business data does not fully capture. Investable value lives one layer out, in the for-profit "picks-and-shovels" ecosystem these organizations pay: fundraising and membership software, payments processors, asset managers and trust banks, HOA-management firms and specialty banks, event and information companies, environmental-services contractors, insurers, and the real estate the shrinking organizations vacate. The rest of this primer maps where those flows are largest, which way each child is heading, and how the economics differ from one to the next.

2. What's inside — the five children and how they differ

The five children share a nonprofit chassis but are five different businesses: a congregation sells belonging and worship; a foundation moves capital to a cause; an advocacy group fights for a position; a lodge sells membership and a hall; a trade group sells collective defense and a trade show; a union sells collective bargaining; an HOA sells governance of shared property. The comparison below is the heart of this page.

Table A — the five children contrasted. Shares are of the subsector's ground-truth federal totals: paid employment and annual payroll from County Business Patterns (CBP, the Census Bureau's employer-establishment program), 2023; receipts from the 2022 Economic Census (EC, the Census Bureau's five-year business census). The five children's establishment, employment, and payroll figures sum almost exactly to the 813 totals, which is what lets us reason about them together [1][2][3].

Legend: 501(c)(x) and Section 527 are subsections of the U.S. Internal Revenue Code (IRC) granting tax exemption to different kinds of nonprofit; IRC 528 is the HOA election. Shares computed from [2][3]; legal forms from the child primers [1].

Three contrasts do the analytical work:

• The people are in religion; the money is in grantmaking. Religious organizations employ ~59% of the subsector's workers and pay ~39% of its payroll, yet contribute zero measured receipts (see Section 3 — churches do not report receipts to the Economic Census). Grantmaking is the mirror image: only ~8% of employment but ~54% of receipts, because foundations run lean and their "receipts" are mostly investment income and fresh gifts, not earned revenue. The subsector is simultaneously a giant employer (driven by religion) and a giant pool of capital (driven by grantmaking), and those two facts sit in different children.
• Every child points a different way. Religion is in slow structural decline that has recently decelerated; grantmaking rides equity markets and the great wealth transfer upward; advocacy is episodic and just absorbed a large government-funding cut; civic/social clubs are in long secular decline against a cultural "loneliness/third-place" tailwind; and 8139 is internally split (HOAs grow non-cyclically, unions slowly shrink, political flows break records each cycle then collapse in off-years). There is no single "813 trend."
• All five are un-ownable, but the depth of the investable adjacency differs sharply. The for-profit plumbing is deep and liquid next to grantmaking (asset managers) and HOAs (community-management firms and specialty banks), moderate next to advocacy's conservation wing (environmental-services contractors) and business/professional bodies (events and information majors), and thin next to religion and the fraternal clubs. Where you can actually deploy public-market money is not evenly spread.

3. Size — the rollup, and why receipts miss the largest child

Our ground-truth federal statistics for NAICS 813 (U.S. Census Bureau; CBP 2023 and the 2022 Economic Census concentration table) [2][3]:

CR4/CR8/CR20/CR50 = the combined receipts share of the largest 4/8/20/50 firms. HHI is a 0–10,000 concentration gauge where anything under 1,500 counts as "unconcentrated."

Read this before quoting "$336.6 billion" as the size of the sector — two things flip the surface reading:

• Receipts count only four of the five children; religion is entirely off-frame. The $336.55 billion receipts figure equals the sum of the four receipts-reporting children — grantmaking (~$181.9B) + business/professional/HOA within 8139 (~$87.7B) + advocacy (~$48.4B) + civic/social (~$18.5B) ≈ $336.5B — and includes nothing from religious organizations, the largest child by far in people and payroll [3]. Churches report neither receipts to the Economic Census nor the annual IRS return (Form 990) that other nonprofits file, so their money simply is not in this number [1]. For donor-flow context only (not this subsector's receipts), Giving USA estimated 2024 giving to religion at ~$146.5 billion and total U.S. charitable giving at ~$592.5 billion [5] — the whole giving system, never a substitute for the receipts line.
• The employer count is a small fraction of the real entity count (severe, structural undercount). CBP and the Economic Census count only organizations with paid employees and payroll [4]. This subsector is built on the opposite: volunteer labor, unstaffed foundations, and tiny local chapters. Roughly half of the nation's ~356,600–373,000 congregations have no paid staff and never appear [7]; well over 120,000 private foundations run with no employees at all [9]; and there are on the order of 373,000 community associations against a fraction of that in payroll establishments [12]. The self-employed clergy, volunteer-run lodges, and unstaffed family foundations that define the tail are invisible here — the AmeriCorps/Census value of U.S. volunteering alone was ~$167.2 billion in 2022–23 [13]. So the ~309,000 employer establishments capture the larger, building-owning, staffed minority; the true population of legal entities runs into the many hundreds of thousands, dominated by small, individually, family-, and member-controlled organizations. The federal payroll and employment figures are accurate for what they measure — they simply do not see most of the tail. Wherever ownership is small and individual, treat every count here as a floor.

Concentration. With an HHI of 35.1 and the top four firms holding just 9.3% of receipts, NAICS 813 is one of the least concentrated subsectors in the entire economy [3]. That near-zero reading is structural: within any single religion, cause, profession, industry, or subdivision there is usually one dominant body (one diocese, one AMA, one HOA per neighborhood), but across the whole subsector there are tens of thousands of independent legal entities that do not compete with one another. Note the one exception that this fragmentation hides: grantmaking is fragmented by firm yet extraordinarily concentrated by capital — U.S. foundation assets total roughly $1.5 trillion, and the 50 largest foundations alone hold on the order of $500+ billion [9]. Fragmented by entity, concentrated by dollars.

4. Investable universe — where value concentrates across the children

There is no listed pure-play anywhere in NAICS 813; every route is a for-profit proxy sitting next to a nonprofit core. Value concentrates very differently by child, so the exposure map is really five maps. Reserve tickers for this section and Section 10.

Three cross-cutting judgments for a general investor:

• One name touches all five children: Blackbaud (BLKB) — the listed fundraising/nonprofit-software and payments vendor common to congregations, charities, advocacy groups, clubs, and associations alike. It is the closest thing to a single "813 proxy," but it is a software business first; size it as one, not as a bet on the sector's mission.
• The two deepest, most-liquid pools are grantmaking's asset-management layer and 8139's HOA-services layer. They are where a public-market investor can actually deploy meaningful capital against a durable, structural tailwind (rising assets under management; rising HOA doors and deposits). Religion and the fraternal clubs are the thinnest.
• The conservation slice inside advocacy is the widest pure listed opening, because environmental-services contractors and green bonds are real, buyable businesses created by (and selling into) the same cause economy.

5. How the money works

Because every operator is a nonprofit, the usual lens — revenue growth, margin, multiple — does not apply to the core; a surplus is a surplus, not a profit, and no equity accrues. Four money models run under that one rule, and they differ by child:

1. Donation-funded mission (religion, advocacy). Congregations get ~90% of revenue from individual givers; advocacy groups blend gifts, dues, foundation grants, and (until 2025) government grants. The "unit economics" are the program-expense ratio (share of each dollar reaching the mission), cost to raise a dollar, donor retention (a weak ~42.9% sector-wide in 2024) [11], and — above all — concentration on any single funder [1].
2. Fee-on-assets (grantmaking). A private foundation must by law distribute at least 5% of its investment assets each year and pays a small excise tax on net investment income, which floors ~$70–80 billion of annual grant volume regardless of the cycle [9]. For investors, the capturable economics are the management fee skimmed off that ~$1.5 trillion asset base by whoever invests, advises, or custodies it — a fee pool that tracks equity markets, not charity [9].
3. Membership subscription (civic/social clubs, and the business/professional/labor parts of 8139). Revenue is dues plus non-dues income (event rentals, bars, gaming, trade shows, certification, publishing). Because most costs are fixed (the hall, the staff), it is a scale game — every lost member is nearly pure lost contribution. For unions specifically, dues run ~1–2% of pay and "profit" shows up as growth in net assets (the strike fund) [see 8139 primer].
4. Mandatory assessments / contributions (HOAs and political, inside 8139). HOA revenue is contractual member assessments split between operating and reserve funds — property-tied and non-cyclical. Political committees raise contributions and spend to zero, mostly on advertising; there is no enterprise value to preserve.

In every case the money an investor can actually earn is in the for-profit layer, and the metric shifts with the segment: recurring software revenue and payment take-rate (fundraising/membership/HOA software); fees and float on charitable and HOA assets under management (asset managers, trust banks, specialty banks); exhibitor renewal and booth sell-through (events); credential volume and publishing royalties (professional information); loan interest and development margin (church/lodge lending and real estate); and political-ad revenue in even years (broadcasters).

6. Demand drivers

What each child sells tracks the size and stress of the constituency it serves — and the drivers diverge:

• Religiosity and demographics (religion, and civic/veterans' groups). The share of U.S. adults identifying as Christian fell from 78% (2007) to ~62% (2023–24), with the unaffiliated up to ~29%, though the decline has recently stabilized; ~33% still attend monthly or more [7]. Generational replacement is the core risk for congregations and legacy lodges alike.
• Wealth creation, equity markets, and the great wealth transfer (grantmaking). Foundation and donor-advised-fund (DAF) balances are largely stock-linked, and new foundations are typically born from a liquidity event, so grant capacity rises with markets and inherited wealth [9].
• The news cycle and the political/appropriations calendar (advocacy, political). Giving to cause groups spikes on events (the ACLU raised ~$79 million in three months after the 2016 election) but rotates violently among issues; campaign money follows the two/four/six-year federal cycle, hitting ~$15.9 billion in the 2024 cycle [14].
• Loneliness and the "third-place" revival (civic/social). Digital life hollowed the old clubs but is now blamed for a loneliness epidemic, driving a youth-led return to in-person community — largely captured by new formats rather than the old lodges [see 8134 primer].
• Housing growth and reserve mandates (HOAs). New construction defaults to HOAs, and post-Surfside reserve rules plus insurance inflation push assessments — an estimated ~$120.9 billion in 2024 — structurally higher [12].
• Regulatory and legislative threat (business/professional). Members pay most for collective defense when rules and scrutiny rise; federal lobbying set a record ~$4.44 billion in 2024 [see 8139 primer].

7. Regulation

The whole subsector is regulated as tax-exempt organization, not as business — enforced mainly by the Internal Revenue Service (IRS) and state attorneys general — layered with activity-specific law that differs by child.

• Tax status (shared, but the letter matters). Congregations get automatic 501(c)(3) status and a unique exemption from the Form 990 [1]; foundations file Form 990-PF and face a cluster of excise-tax rules (5% payout, self-dealing ban, investment-income tax) [9]; public charities and most 8139 bodies file Form 990 [1][9]; clubs and fraternals sit under 501(c)(7)/(8)/(10)/(19); unions under 501(c)(5); political committees under Section 527; HOAs elect IRC 528. Unrelated commercial activity is taxed (the unrelated-business-income tax, or UBIT), and aggressive commercial activity can jeopardize exemption.
• Charitable-solicitation and campaign rules. About 40+ states require charities to register before soliciting; the Johnson Amendment limits 501(c)(3) political-campaign activity (with 2025–26 IRS enforcement easing for churches) [1]; 501(c)(4) groups may lobby freely but their gifts are not deductible (the "dark money" structure).
• Sharp, child-specific exposures. Antitrust for business/professional associations (the National Association of Realtors agreed in 2024 to pay $418 million and scrap its commission rules) [see 8139 primer]; labor law for unions (the National Labor Relations Act; Janus v. AFSCME, 2018, barring compulsory public-sector fees); campaign-finance law for political committees (Citizens United, 2010, which created the super PAC); land-use and property-tax rules for congregations (the Religious Land Use and Institutionalized Persons Act) and lodges; and state community-association statutes plus reserve mandates for HOAs. Policy is a live risk surface — recurring proposals would raise the foundation payout, tighten deductions, or revisit property-tax exemption.

8. Consolidation

The HHI of 35.1 is the tell: the organizations themselves barely consolidate. Each is a separate legal entity, usually a near-monopoly within its own niche, with no equity to take over and no price competition to force mergers. What consolidation exists among the nonprofits happens by attrition and affiliation — an estimated ~3,700 churches close each year, feeding a stream of surplus real estate [20]; lodges and posts fold or sell their halls as membership ages out; small foundations roll their assets into community foundations; and DAFs and philanthropic LLCs quietly absorb share of new giving [9]. The one genuine merger story is labor, where long-run density decline has pushed unions to combine to preserve strike funds.

Where consolidation is real, fast, and overwhelmingly private-equity-led is the for-profit service layer around every child:

• Faith-tech and nonprofit software/payments (Ministry Brands, the Pushpay take-private, ACS Technologies/Vanco; broader nonprofit-software roll-ups) [see 8131/8134 primers].
• Outsourced-CIO and asset-servicing for foundations and DAFs (surging OCIO adoption; Mercer's 2024 purchase of Vanguard's nonprofit OCIO book) [9].
• HOA management, specialty banking, and community software (FirstService/Associa buying regional managers; a few banks concentrating sticky HOA deposits) [see 8139 primer].
• Events, professional publishing/testing, campaign services, and political broadcasters serving the business/professional/political children (Blackstone, Apollo, Stagwell, and the local-TV majors) [see 8139 primer].

The thesis in every case is one cross-selling platform — membership/management, events, content, payments, and data — spanning thousands of small nonprofits with high switching costs.

9. Risks

• Measurement risk is the subsector's signature flaw. The federal data miss the volunteer, unstaffed, and small-entity tail, and the receipts base excludes religion entirely — so top-down sizing is approximate and biased low. Never treat a count or a receipts figure here as the true footprint.
• Structural, child-specific secular pressures. Secularization and aging membership (religion, legacy clubs); a top-heavy, shrinking donor base (the U.S. donor count fell ~4.5% in 2024) and market dependence of foundation assets (grantmaking) [11]; government-funding collapse (advocacy, realized in the 2025–26 aid and climate-grant cuts) [see 8133 primer]; and record-low private-sector union density plus the Janus drag (labor).
• Real-estate and fixed-cost drag. ~$1 trillion of often flat-or-declining church real estate, aging lodge halls, and underfunded HOA reserves all carry rising utility, insurance, and repair costs [20][12].
• Litigation, reputation, and safety. Trust is the entire product; abuse claims have driven multiple dioceses and the Boy Scouts (a $2.46 billion abuse-settlement trust) into bankruptcy, and one scandal can collapse donations fast. Antitrust can produce nine- and ten-figure liabilities (the NAR settlement is the template) [see 8134/8139 primers].
• Policy and tax reversal. A higher mandated foundation payout, new charitable-deduction floors, changes to property-tax or campaign-finance rules, or right-to-work expansion could each shrink the money in one or more children [9].
• Proxy mismatch (the investor's core problem). There is no equity to own and no dividend to collect anywhere in NAICS 813; every listed name earns only a slice of its revenue from serving these organizations, so company-wide leverage, acquisitions, and currency can swamp the theme. Private-equity-backed vendors add integration and price-pressure risk.

10. How to invest, and the outlook

There is no direct way to invest anywhere in NAICS 813 — by law, none of the five children has equity. The playbook is to choose the child whose economics you want and buy its for-profit proxy layer, sizing every position for the fact that the theme is only part of the company:

• For scale, liquidity, and a durable market-linked tailwind → grantmaking's asset-management layer (8132): asset managers, trust banks, and OCIO firms earning fees on the ~$1.5 trillion foundation/DAF base (BlackRock, Morgan Stanley, Northern Trust, BNY, State Street, Charles Schwab), plus fundraising software (Blackbaud).
• For structural, non-cyclical, recurring-revenue exposure → the HOA-services theme inside 8139: FirstService (the largest North American community manager), specialty HOA banks (Western Alliance, Pacific Premier), and management software (AppFolio) — the cleanest single theme in the whole subsector.
• For the widest pure listed opening → the conservation wing of advocacy (8133): environmental-services equities (Tetra Tech, AECOM, Stantec, Waste Management, Clean Harbors), green bonds, and conservation-finance funds.
• For events and information → the business/professional bodies (8139): the trade-show and data majors (Informa, RELX, Thomson Reuters, Wolters Kluwer, Pearson, Wiley) that harvest the largest non-dues revenue line associations pay.
• For cyclical, event-driven trades → political (8139): local-TV broadcasters (Gray, Nexstar, Sinclair), underwritten across a full election cycle rather than bought-and-held.
• For religion and the clubs (8131/8134) → mostly private and non-equity routes: faith-tech and membership software (thin listed proxy: Blackbaud), church/lodge bonds and mortgage lending, fraternal insurers (accessed by buying their products), and the real estate that shrinking congregations and lodges leave behind. Faith-values and "ethical" exchange-traded funds (ETFs) offer screened market exposure, not a bet on this subsector.

In every case, the private-market and philanthropic route is to fund or serve the organization — grants, recoverable grants, program-related investments, DAFs — and the diligence is on the Form 990 (or 990-PF): unrestricted reserves and months of liquidity, donor and grant concentration, program-expense ratio in context, board independence, and key-person risk.

Outlook. NAICS 813 is a large, durable, mostly slow-moving money-mover whose entire core is permanently un-ownable — so investable value keeps migrating outward to the for-profit infrastructure, and the extreme fragmentation (HHI 35.1) leaves a long runway for private roll-ups of that infrastructure. The five children then diverge and will not move together: grantmaking compounds with markets and the wealth transfer; HOA services grow steadily and non-cyclically; the conservation economy expands on market-based revenue against a near-term government-grant squeeze; religion and the legacy clubs decline slowly (religion's decline recently decelerating, the clubs partly offset by a third-place revival captured mostly by new formats); and political flows keep breaking records each cycle while whipsawing violently between them. The consistent trade across all five is the same as the honest one-line takeaway for the whole subsector: this is something you fund, supply, house, or finance — not something you own. For the segment-by-segment detail, read the five child primers.

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Sources

Figures for NAICS 813 are our ingested federal ground-truth statistics; other citations are drawn from the five child primers (8131, 8132, 8133, 8134, 8139), renumbered here.

1. U.S. Census Bureau, 2022 NAICS Definitions — subsector 813 and its industry groups 8131/8132/8133/8134/8139, and IRS guidance on the tax-exempt forms each takes (501(c)(3)/(5)/(6)/(7)/(8)/(10)/(19), Section 527, IRC 528), 2022–2026. https://www.census.gov/naics/?input=813&year=2022
2. U.S. Census Bureau, County Business Patterns, 2023 — NAICS 813 (establishments 309,008; paid employees 2,676,522; annual payroll ~$117.58B; Q1 payroll ~$28.77B). Histometrics ingested federal ground-truth. https://www.census.gov/programs-surveys/cbp.html
3. U.S. Census Bureau, 2022 Economic Census — Concentration of Largest Firms (EC2200SIZECONCEN), NAICS 813 (firms 98,656; receipts ~$336.55B; CR4 9.3% / CR8 13.1% / CR20 18.5% / CR50 25.8%; HHI 35.1). Histometrics ingested federal ground-truth. https://data.census.gov/table/ECNSIZE2022.EC2200SIZECONCEN
4. U.S. Census Bureau, County Business Patterns / Economic Census Methodology (employer-only scope; excludes self-employed, volunteer, and nonpayroll activity; nonemployer program excludes nonprofits), 2024–2026. https://www.census.gov/programs-surveys/cbp/about.html
5. Giving USA Foundation / Indiana University Lilly Family School of Philanthropy, Giving USA 2025 (2024 total U.S. giving ~$592.5B; ~$146.5B to religion), 2025. https://givingusa.org/
6. Lake Institute on Faith & Giving, Giving USA: The Impact on Religion (~90% of religious revenue from individuals). https://lakeinstitute.org/resource-library/
7. Pew Research Center, Religious Landscape Study 2023–24 (62% Christian, 29% unaffiliated, 33% monthly attendance; decline slowed); Hartford Institute / U.S. Religion Census (~356,600–373,000 congregations), 2024–2025. https://www.pewresearch.org/religion/2025/02/26/decline-of-christianity-in-the-us-has-slowed-may-have-leveled-off/
8. Internal Revenue Service, Tax Information for Churches and Religious Organizations (automatic 501(c)(3); Form 990 exemption; Johnson Amendment). https://www.irs.gov/charities-non-profits/churches-religious-organizations
9. Internal Revenue Service, private-foundation excise rules (§4940/§4942 5% payout/§4941/§4943/§4944/§4945) and Form 990-PF; Inside Philanthropy / Candid, "Foundation Assets Reach a Record $1.5 Trillion" (120,000+ foundations; top-50 assets ~$500B+); Commonfund / InvestmentNews on OCIO and the 2024 Mercer–Vanguard nonprofit OCIO deal. https://www.irs.gov/charities-non-profits/private-foundations
10. National Philanthropic Trust, The 2024 DAF Report (donor-advised-fund assets ~$300B+). https://www.nptrust.org/reports/the-2024-daf-report/
11. Association of Fundraising Professionals / Fundraising Effectiveness Project, Q4 2024 Benchmark (donor count −4.5%; retention 42.9%). https://afpglobal.org/fundraising-effectiveness-project
12. Foundation for Community Association Research, Community Association Fact Book 2025 / 2026 Outlook (~373,000 associations; ~$120.9B assessments, 2024). https://foundation.caionline.org/research/
13. U.S. Census Bureau / AmeriCorps, Civic Engagement and Volunteerism (2022–23 volunteering valued ~$167.2B). https://www.census.gov/library/stories/2024/11/civic-engagement-and-volunteerism.html
14. OpenSecrets, Total 2024 election spending (~$15.9B federal; >$20B with state/local). https://www.opensecrets.org/news/2024/10/total-2024-election-spending-projected-to-exceed-previous-record/
15. U.S. Bureau of Labor Statistics, Union Members Summary; Gallup, Labor Union Approval ~68%, 2025–2026. https://www.bls.gov/news.release/union2.nr0.htm
16. Fortune / Histometrics 8139 primer, National Association of Realtors $418M settlement (2024), and antitrust/labor/campaign-finance case law (Janus 2018, Citizens United 2010). https://fortune.com/2024/03/15/nar-settles-lawsuits-real-estate-commissions-threat/
17. Blackbaud, Inc. 2025 Form 10-K (Nasdaq: BLKB) — fundraising/nonprofit software and payments common to all five children. https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001280058
18. FirstService Corporation, Western Alliance Bancorporation, Pacific Premier Bancorp, and AppFolio investor disclosures (HOA management, specialty banking, community software), 2025. https://www.firstservice.com/
19. Cystic Fibrosis Foundation venture-philanthropy model; Chemical & Engineering News, "Cystic Fibrosis Foundation Gets $3.3 Billion For Royalties" (Vertex; Royalty Pharma), 2014. https://cen.acs.org/articles/92/i47/Cystic-Fibrosis-Foundation-33-Billion.html
20. Religion News Service, "Thousands of Churches Will Likely Close Down" (~3,700 closures/year; ~$1T real estate), 2024. https://religionnews.com/2024/03/15/thousands-of-churches-will-likely-close-down-what-happens-to-all-those-buildings/