Posts Tagged Peter’s Pence
In an interview with Vatican News June 25, Jesuit Father Juan Antonio Guerrero Alves, prefect of the Secretariat for the Economy, said Catholics “have the right to know how we spend the money given to us.”Catholic News Service
The head of the Vatican Secretariat for the Economy said he hopes efforts at financial transparency and reform will foster Catholics’ trust ahead of the annual Peter’s Pence collection.
In an interview with Vatican News June 25, Jesuit Father Juan Antonio Guerrero Alves, prefect of the Secretariat for the Economy, said Catholics “have the right to know how we spend the money given to us.”
“Sometimes contradictions arise from a lack of knowledge, which, in turn, comes from a lack of transparency,” Father Guerrero said.
Peter’s Pence is a papal fund used for charity, but also to support the running of the Roman Curia and Vatican embassies around the world. The collection for the fund occurs each year around June 29, the feast of Sts. Peter and Paul.
However, several reports in recent years have alleged that only a small portion of the money received annually was used for charity while the majority of the contributions were used to fill the gap in the Vatican’s administrative budget.
By Junno Arocho Esteves, Catholic News Service — Read more …
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.