**No I guess I didnât know that Fr. C may be freed from what I called his âreputed vow of povertyâ. I just had hoped that this might be the case because he speaks as though charity is a much desired virtue. But, so what? He did well with his Qui Tam suit. That may explain the gated reception area described by one of the other contributors.
I have read a few things about the Vatican that more or less made me think it could afford a few lira to help out our brothers and sisters. Prof. Thomas J. Reeseâs book, for example, âInside the Vaticanâ (Harvard University Press, 1996 where he describes the finances of the Vatican (pp 202-229). Indeed from 1970 to 1993 there appears to have been a deficit based on "the Vatican Bankâs own analysis. In 1994 Price Waterhouse (an independent audit was done) found profits of 4 million annually and bank deposits of 40 billion.
Of course, Iâm no 'fessional when it comes to things like this, but, I do have it on very good authority that before the priestly hierarchy castigate people in the pews for not anteing up their tithe, the plank should be removed from its own eye.**
How is it that preaching that charity is a virtue is equal to castigating people in the pews? Explaining the virtues and reminding us of our duty to fellow man is not castigation.
The richness of the Vatican is a stupid urban legend. They have run on a deficit for some time (note that the report you cited is 15 years oldâŚ)and do not have great liquid assets. All parishes around the world operate as separate independent entities. The Vatican are the custodians of art treasures but many like the frescos in the Sistine Chapel cannot be bought and move and cost big euros to mantain, preserve and insure.
You donât need conspiracy theories to be dazzled by alleged Vatican wealth. The Vatican museums groan with some of the greatest artistic treasures known to humanity, and at least some of the Vatican officials live and work in exquisite Baroque structures whose cash value defies reckoning.
Over the years, these riches have scandalized and disillusioned many Christians who fail to see the connection between playing international currency markets and following Jesus.
Reality is more prosaic. To put it bluntly, the Vatican is not rich. It has an annual operating budget of $260 million, which would not place it on any top 500 list of social institutions. To draw a comparison to the nonprofit sector, Harvard University has an annual operating budget of a little over $1.3 billion, which means it could run the equivalent of five Vaticans. This is to say nothing of the corporate world. Microsoft in 2002 spent $4.7 billion on research and development alone and has annual sales of $293 billion. On the scale of the worldâs mammoth enterprises, the Vatican doesnât rate.
But is the Vatican sitting on a pile of wealthâsuch as real estate or artworkâthat doesnât show up in its annual budget? Michelangeloâs Pieta statue, the Sistine Chapel, or Raphaelâs famous frescoes are all listed on the Vatican books at a value of 1 euro each. From the Vaticanâs point of view, they are part of the artistic heritage of the world and may never be sold or borrowed against.
One could argue that the personnel of the Holy See profit because they live and work in the midst of all this gorgeous art, but that doesnât pay the rent or build up retirement savings. Moreover, only the lucky personnel at the Secretariat of State have offices with ceilingsâŚ"
Also, there is no air conditioning in the Vatican, except in those spaces where the artwork is preserved. By the way, where are the Buddhists with their giving to the poor? Iâve seen 50 foot tall Buddhas in Thailand, Cambodia, and some very beautiful monasteries which all could be sold off and melted and given to the poorâŚ