In 2023, the income of the Peter’s Pence Fund, intended to meet the needs of the universal Church and to support numerous initiatives in favour of those most in need, amounted to 52 million euros (48.4 million from offerings received and 3.6 million from financial income realised from the remuneration of assets), while the expenditures Read more
Posts Tagged ‘Peter’s Pence’
Peter’s Pence 2022: income doubles even as donations dip
Thursday, July 6th, 2023The Peter’s Pence fund earned 107 million euros (NZ$187m) in revenue in 2022, of which 43.5 million euros came from donations and 63 million euros came from financial operations such as the sale of real estate assets that belonged to the fund, the Vatican reported. Donations dipped slightly from 44.4 million euros in 2021. The Read more
Vatican finances must be like a house of glass
Monday, October 5th, 2020
The economy of the Holy See should be transparent like a house of glass, says Vatican Secretariat for the Economy prefect Fr. Juan A. Guerrero SJ. He made the comment when the Secretariat released the 2019 balance sheet for the Roman Curia last Thursday. “We want the budget to explain how the Holy See uses Read more
Peter’s Pence: The money of the poor has not been used for speculation
Monday, February 24th, 2020Cardinal Angelo Becciu, the Holy See’s former Deputy Secretary of State (Sostituto), has strongly denied any misappropriation of funds from the Peter’s Pence collection, currently under investigation by the Vatican judiciary. The Sardinian cardinal, who is now prefect of the Congregation for the Causes of Saints, was questioned about the investigation on Feb. 17 at Read more
Cardinal denies allegations of financial mismanagement
Monday, November 4th, 2019
Italian Cardinal Giovanni Angelo Becciu, prefect of the Congregation for Saints’ Causes, rejects accusations of financial mismanagement that claim he “played and tampered with the money of the poor”. Nearly a month after private documents about a property deal involving the Vatican leaked to the press, Becciu explained his side of the story. The Peter’s Read more
Pope donates half-a-million to US border migrants
Monday, April 29th, 2019
Pope Francis has donated $500,000 to Mexico-based projects to help migrant communities. The funds will be distributed between 27 projects associated with 16 Mexican dioceses and congregations. All of them have asked for help to continue providing food, lodging and other basic necessities to those fleeing their home countries through Mexico. “In recent months, thousands Read more
Good and bad money news for Holy See
Tuesday, July 9th, 2013
The Holy See has recovered from one of its worst deficits to post a $NZ3.6 million surplus for 2012, a good news story announced in a week in which “clear failings” were revealed in the processes of the Vatican Bank. In its annual financial statement, the Holy See said better management had helped it recover Read more
Holy See finances show biggest deficit in decade
Tuesday, July 10th, 2012
The Holy See has suffered its largest budget deficit for 10 years, but growing numbers of visitors to the Vatican Museums gave the Vatican City State a healthy surplus. The Holy See finances for 2011 recorded a deficit of 14.9 million euros ($NZ22.9 million). Its budget covers the Vatican Secretariat of State and its worldwide Read more
Vatican makes profit despite declining donations
Tuesday, July 5th, 2011
The Vatican returned a profit last year, despite around a 20% fall in donations from the faithful. The NZ$17.2 million profit was a turnaround from the previous year’s NZ$7 million loss, and losses in the previous two years. The Vatican said the result showed a continuing positive trend which began in 2009, but was hampered Read more