The Negro's church,.

Financing Negro Churches 177
in this latter quotation, it is more than likely that the percentage of churches in debt for cities 25,000 and more would
be slightly modified. At any rate, it seems clear that the
indebtedness per member, and the percentage of churches in
debt, for this study are appreciably higher than they are for
the country at large.
DISTRIBUTION OF DEBT
Of the 386 churches in debt, 176, or 45.6 per cent., owe
less than $5,000; 152, or 39.4 per cent., owe between $5,000
and $25,000; and 58, or 15.0 per cent., owe more than
$25,000. For details see Table 29 in the Appendix.
TABLE IX-DEBTS OF 21 CHURCHES THAT OWE
$50,000 OR MORE
$ 50,000...................... 2
52,000..................... 3
55,000...................... 1
60,000...................... 2
62,000...................... 1
64,000...................... 1
65,000...................... 2
66,000...................... 1
70,000...................... 1
72,000...................... 1
75,000...................... 1
85,000...................... 1
99,602...................... 1
105,000...................... 1
127,000..................... 1
160,000...................... 1
21
THIRTEEN YEARS REQUIRED TO FREE CHURCH OF DEBT
In 1930, of the 386 churches that had debts, 251, or 65
per cent., paid interest and reduced the principal; 98, or 25.4
per cent., paid the interest only; while 37, or 9.6 per cent.,
paid neither interest nor principal. Table VII showed that
$683,856, or 22.9 per cent. of the total raised in 1930, was
spent for interest and reduction of church debt. The 386
indebted churches raised in 1930, $2,425,365; and spent