Posts Tagged charitable donations

The Vatican is using donations for the poor to fight its budget deficit, report says / CNBC

Peter’s Pence is a special collection from Roman Catholics every June. According to the collection’s website, it is “A Day for the Works of Charity.” (CNBC)

As little as 10% of donations by Roman Catholics that are specifically advertised as helping the poor and suffering actually go toward charitable work, a new report says.

“About two-thirds of the rest of the $55 million in donations for Pope Francis’ annual charitable appeal, known as Peter’s Pence, is used to fill the Vatican’s administrative budget deficit, The Wall Street Journal reported in an article Wednesday, citing sources familiar with the spending.

“The newspaper said that the use of Peter’s Pence for the budget ‘is raising concern among some Catholic Church leaders that the faithful are being misled about the use of their donations, which could further hurt the credibility of the Vatican’s financial management under Pope Francis.’

“A spokesman for the Vatican’s mission to the United Nations did not immediately respond to a request for comment from CNBC about the Journal’s report. The article noted that under church law, a pope can use Peter’s Pence in any manner that serves his ministry.”

By Dan Mangan, CNBC — Read more …

Also of interest, “Is the Vatican misleading donors? Peter’s Pence, explained,” by Colleen Dulle and James T. Keane, America: The Jesuit Review.

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