Rome (AP) — In a bid to address severe financial challenges, Pope Leo XIV marked the Feast of Saints Peter and Paul on Sunday by emphasizing the need for donations from the faithful during a special Mass in St. Peter’s Basilica.
With the Vatican facing a structural deficit of approximately 50 to 60 million euros ($57-68 million), the first American pope unveiled a new fundraising initiative that is heavily influenced by American fundraising styles.
During the Mass, Pope Leo presented the pallium woolen stole to 54 newly appointed archbishops, expressing gratitude towards those who support the church financially. He stated that their contributions signify a connection to his papacy, reinforcing the idea of communal support in fulfilling his role as the successor to St. Peter.
Traditionally, churches around the globe hold special collections on this feast day for Peter’s Pence — a fund that finances both the operations of the central Catholic Church and the pope’s charitable endeavors.
This year, however, the Vatican’s approach included a promotional video, posters, QR codes, and a dedicated website that encourages donations through various methods such as credit card, PayPal, bank transfers, and even post office transfers.
The campaign features emotionally resonant footage from Leo’s first moments as pope, including the initial appearance on the loggia of St. Peter’s Basilica and the poignant moment he received the fisherman’s ring of the papacy. Accompanied by a stirring soundtrack, the video contains multilingual messages urging viewers to contribute to Peter’s Pence.
“Your donation to Peter’s Pence supports the steps of the Holy Father,” the video asserts. “Help him proclaim the Gospel to the world and extend a hand to our brothers and sisters in need. Support the steps of Pope Leo XIV. Donate to Peter’s Pence.”
In his Sunday blessing, Leo reiterated the importance of communal support, stating, “From the heart, I thank those who, with their gifts, are supporting my first steps as the successor of St. Peter.”
However, the Peter’s Pence fund has encountered controversies in recent years due to mismanagement and poor investments by the Vatican’s secretariat of state. The recent trial regarding a failed investment in a London property highlighted that a significant portion of the funds had been used to cover budgetary shortfalls rather than charitable work, contrary to what many donors believed.
Following scandals and the impact of the COVID-19 pandemic that shuttered churches and curtailed traditional donation collections, contributions to Peter’s Pence dipped to mere 43.5 million euros in 2022 — the lowest since 1986. Although that year saw some offsetting income and investment returns, donations increased to 48.4 million euros in 2023 and further rose to 54.3 million euros the following year.
Despite these increases, the fund faced expenses amounting to 75.4 million euros ($88.3 million) in 2024, exacerbating the trend of it depleting funds to sustain the Holy See’s budget.
Additionally, complications arise from a staggering 1 billion euro (approximately $1.17 billion) shortfall in the Vatican’s pension fund, which Pope Francis had indicated was at risk of failing to meet its obligations in the medium term.
Unlike sovereign nations, the Holy See does not issue bonds or impose income taxes but instead relies on donations, investments, and revenue from the Vatican Museums, along with sales of stamps, coins, and publications to fund its operations.
Historically, the United States has been the largest contributor to the Peter’s Pence fund, with American Catholics donating about a quarter of the total annually.
With hopes that the new financial controls under Leo’s leadership and the presence of a U.S. math major managing the Holy See’s finances will encourage confidence among donors, Vatican officials are optimistic about reversing the current financial trajectory.
“This is a concrete way to support the Holy Father in his mission of service to the universal Church,” stated the Vatican’s economy ministry in a press release announcing the annual collection and new promotional materials. “Peter’s Pence is a gesture of communion and participation in the Pope’s mission to proclaim the Gospel, promote peace, and spread Christian charity.”
image source from：apnews
