US EditionCan an American pope apply US-style fundraising and standards to fix troubled Vatican finances?
- The Holy See recorded an 83.5 million euro deficit in 2023, reflecting ongoing financial challenges within the Vatican.
- This deficit follows years of belt-tightening, hiring freezes under Pope Francis, and declining donations from countries outside the U.S.
- The election of Pope Leo as the first American pope on May 8 energized U.S. Catholics, who remain the largest donors despite past distrust.
- Rev. Roger Landry expressed that having an American in charge will increase confidence that donated funds will be managed according to American values like stewardship and transparency, thereby strengthening donor trust.
- The financial strain on the Holy See suggests a need for broader international representation on oversight commissions to address structural deficits.
32 Articles
32 Articles
Italian eataway: Come for the pope, stay for the food - American Press
SORRENTO, Italy — So there we were, Beverly and I, minding our own business at a serene clifftop outdoor cafe, gazing down several hundred feet at a postcard-like vista of a rocky harbor on the Mediterranean. We’re talking birds chirping here, soothing violin music wafting about, all the while we’re wondering what would happen if Mount Vesuvius out there across that crystal blue water might misbehave again for the first time in 1,946 years. I ke…
Associated Press News
Can an American pope apply US-style fundraising and standards to fix troubled Vatican finances?
One of the greatest challenges facing Pope Leo XIV is financial. He has inherited the Holy See’s chronic, 50 million to 60 million euro ($57-68 million) structural deficit, a 1 billion euro ($1.14 billion) pension fund shortfall and declining donations.
A do-it-yourself mentality, she said, could now serve Leo XIV well in addressing one of the biggest challenges he faces as pope: the Holy See's chronic structural deficit of 50 to 60 million euros (1.2 to 1.5 billion crowns), a pension fund deficit of one billion euros (24.8 billion crowns) and dwindling donations, which together pose a near-existential threat to the headquarters of the Catholic Church, which has 1.4 billion followers. The 69-ye…
VATICAN CITY — As a bishop in Peru, Robert Prevost often looked for used cars that he could buy cheaply, fix up himself and use in the parishes of his diocese. When a car had a major problem, he would look on YouTube to find out how to fix it, the AP reported.
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