The Diocese of Truro is facing a shortfall of more than £1m in the next financial year, a bishop has said.
It comes as new figures revealed Anglican churchgoers in Cornwall currently donate 20% less than those in any other diocese in England.
People in the county give about £5.80 per week, compared with a national average of £8.40.
The Bishop of St Germans said unless urgent action was taken, such a level of debt was unsustainable.