REASONFIRST:
I think to a degree this must be true since the parents of Baby Boomers (big church goers) are almost all gone and many Baby Boomers themselves are passing away!
When these people died they also stopped contributing (and this is the problem the Witness religion is also facing).. However, in spite of this there are still people here and there who attend. Of course, there are immigrants who are churchgoers. But, I do not imagine they are filling the contribution boxes like people years ago!
In fact, some needy are expecting help or assistance from the church itself or other parishioners!.. I know of a lady who got involved with some ‘church’ and tried to get me to go there. I said No thanks!.. She later on was persuaded to take a woman into her home who ended up being a squatter!! What a hard time she had finally getting rid of this person!