Pope's Charitable Fund Received 48 Million
Donations to the St. Peter's Pence, the Pope's Charitable Fund, reached 48 million euros in 2023, a five million increase over the previous year. This growth reflects the continued generosity of Catholics around the world who have contributed significantly to the Church's charitable mission.
The 2023 annual report highlights both the Charitable Fund's income and expenditures, providing a detailed overview of how resources are distributed across various global relief projects.
Donations and Income
According to Vatican, in addition to the 48 million euros in direct donations, the Charity Fund obtained an additional 3,6 million euros through financial income, totaling 52 million euros for the year 2023.
However, expenses reached €109,4 million, resulting in a negative balance. This deficit contrasts with 2022, when Peter's Pence revenue reached an impressive €107 million, mainly due to property sales.
Donations to St. Peter's Pence come from three main sources:
- The collection was taken up in churches throughout the world on the Solemnity of Saints Peter and Paul and subsequently transmitted to the Holy See by the Italian dioceses and, through the Pontifical Representations, by the overseas dioceses.
- Direct offers sent via check, bank transfer, postal transfer, or via the Óbolo website, credit cards, and PayPal.
- Legacies of inheritances.
In 2023, dioceses accounted for the largest share of contributions, with approximately €31,2 million, equivalent to 64,4% of revenue; while 4,4% (€2,1 million) came from private donors. Furthermore, Foundations contributed €13,9 million (28,8%), with the remaining €1,2 million (2,4%) coming from Religious Orders.
The United States of America was the largest benefactor by a wide margin, contributing €13,6 million, representing 28,1%, of the total income, with the next largest contributions coming from Italy with €3,1 million (6%) and Brazil, €4 million.
Funded Projects
Of the 103 million euros disbursed by the Peter's Pence Charitable Fund in 2023, 90 million euros were used to support the activities carried out by the Holy See in the service of the Pope's apostolic mission, covering the expenses of 68 dicasteries and organizations that support the work of the pontiff.
- 13 million went to support projects providing direct assistance to those most in need: families, dioceses, parishes, and religious institutes; migrants and refugees; populations affected by war and famine; communities affected by the adverse consequences of climate change; and those in need of humanitarian assistance.
- The Pope's Charitable Fund financed a total of 236 projects in 76 countries, allocating €13 million to various relief initiatives. €5,4 million went to 68 projects in Africa; €2,4 million to 100 projects in Europe; €2,3 million to 34 projects in the Americas; €2,8 million to 33 projects in Asia; and €0,1 million to 1 project in Oceania.
- In addition to supporting the 100 funded projects, the European continent also received nearly one million euros, earmarked for emergency relief in war-torn Ukraine, to fund various pastoral and social initiatives. Furthermore, Africa, Latin America, and Asia benefited from several other projects, with half a million euros used for scholarships for seminarians and religious.
Peter's Pence also extended its charity to Syria, where it funded medical centers with almost 700 euros, and to Malawi, where it sent almost 100 euros for humanitarian aid after a hurricane.
An increase in donations
In 2022, Peter's Pence revenues amounted to 107 million (more than double the 2023 figure), while expenses amounted to 95,5 million. The report notes that a significant capital gain was realized in 2022 through the sale of the Charitable Fund's real estate assets.
In fact, in 2023, donations to the Charity Fund increased by almost five million euros, amounting to 48,4 million euros compared to the 43,5 million euros in donations received in 2022.
Conclusion
The increase in donations to Peter's Pence in 2023, while significant, was still not enough to cover all the Charity Fund's expenses. However, the generosity of Catholics continues to be a fundamental pillar of the Church's charitable activities, enabling countless relief projects around the world.
It is worth noting that the transparency presented in the annual Óbolo report reinforces donor confidence and highlights the continued importance of global solidarity.
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See also:
Pope Francis Against Corruption in the PMS
Picture: © 2024 Francisco Lopes-Santos
