Only 10% of Vatican’s $55 million ‘Peter’s Pence’ actually goes to poor, Wall Street Journal claims

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I was not aware that so much of “Peter’s Pence” was being used for Vatican administrative shortfalls and other Vatican items.

I guess I never looked into it that closely in the past.

I always thought of it as helping The Church of the Holy Sepulchre-types or International types of Catholic shrines and of course helping the most needy.

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Wed Dec 11, 2019 - 4:22 pm EST

Only 10% of Vatican’s $55 million ‘Peter’s Pence’ actually goes to poor, Wall Street Journal claims​

Dorothy Cummings McLean

NEW YORK, December 11, 2019 LifeSiteNews
– Only about 10 percent of donations made to the Holy See’s “Peter’s Pence” actually goes to the poor while the majority of the annual collection, worth about $55 million USD, goes to plug Vatican budget deficits, a top U.S. financial newspaper is claiming.

Catholics from all over the world donate to a special papal fund called Peter’s Pence every year. The money is ostensibly used to support charitable enterprises dear to the pontiff’s heart. Today the Wall Street Journal (WSJ) alleged in a piece titled “Vatican Uses Donations for the Poor to Plug Its Budget Deficit” that most of the over $55 million collected by the fund annually “goes toward plugging the hole in the Vatican’s own administrative budget.”

According to the WSJ’s unnamed sources, only 10% is “spent on charitable works.” . . .

. . . The modern Peter’s Pence, international in scope, was established in 1871 by Pope Pius XI. The collection is taken up from church-attending Catholics on the Sunday closest to June 29, the Solemnity of Saints Peter and Paul.

As the WSJ reported, the official Peter’s Pence website gives little indication that much of the funds may actually be going to support the Vatican’s administrative budget. . . .

. . . But about 75% of the Peter’s Pence fund is used to fill a budgetary hole at the Vatican, the WSJ’s sources said.

“In 2018, the budget deficit reached roughly €70 million on total spending of about €300 million, reflecting chronic inefficiencies, rising wage costs and hits to investment income,” the financial broadsheet reported. . . .

. . . . Meanwhile, the sources say that the fund’s assets are shrinking, too . . . apparently because of unfortunate investments.

Vatican investments and other aspects of its financial endeavors have been much in the news of late, thanks to the thwarted attempts of Cardinal Pell and others to stem suspected money-laundering and other forms of economic corruption, this October’s Vatican police raid on the Secretariat of State, revelations that an Italian businessman made huge profits on a Vatican purchase of a luxury property in London, and the discovery that Peter’s Pence helped finance a biographical film about Elton John that contained depictions of homosexual activity. . . .
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www.lifesitenews.com

Only 10% of Vatican’s $55 million ‘Peter’s Pence’ actually goes to poor, Wall Street Journal claims - LifeSite

Most of the over $55 million collected by the fund annually 'goes toward plugging the hole in the Vatican’s own administrative budget.'
www.lifesitenews.com www.lifesitenews.com

For those interested . . .

www.obolodisanpietro.va

Peter's Pence

The Peter’s Pence collection is a gesture of solidarity. Through it, every member of the faithful can participate in the Pope’s activity. It is an activity that supports the most needy and ecclesial communities in difficulty who approach the Apostolic See for help.
www.obolodisanpietro.va www.obolodisanpietro.va
 
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I’m confused by all these Peter’s Pence articles, because I was raised to believe that Peter’s Pence was money one paid to fund the Vatican. As a child and teen, I always pictured it going to pay for St. Peter’s somehow.

When did it supposedly become about giving to the poor?

Likewise, I was raised to believe that if you wanted to give to the poor, you donated money to the missions (which today would be Missio or CNEWA or Aid to the Church in Need or Society for Propagation of the Faith, or similar) or to Catholic Charities.
 
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Cathoholic said:
Today the [ Wall Street Journal ] (WSJ) alleged
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Wall Street Journal. Rupert Murdoch. Propaganda artist who has ruined American democracy.

I’ll believe it when it comes from Reuter’s or other non-Murdoch publication.
 
OneSheep . . . .
I’ll believe it when it comes from . . .
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Nobody here is asking you to believe anything OneSheep.

If you want to impugn the motives and/or reporting here based on nothing but your opinion, go right ahead.
 
Yeah exactly… while there have been legitimately concerning Vatican financial scandals…that aside, why shouldn’t Catholics donate to support the operating expenses of the Vatican? I don’t see the issue. Every diocese around the world has programs for the poor…its not like “Peter’s Pence” is THE way for Catholics to give to the poor…
 
It was originally a feudal-like tribute from Anglo-Saxon landholders but faded away. It was revived in various places in the 19th century and, as the Catholic Encyclopedia notes:

“Since the occupation of Rome by the Italian Government and the rejection by Pius IX of the Law of Guarantees, the sums paid as Peterspence have become one of the principal sources of income of the Holy See.”

http://www.newadvent.org/cathen/11774a.htm

It does seem to be advertised nowadays, both at the diocesan and parish levels, and by the Holy See, as though as it primarily supported what we think of as charity, which is misleading.
 
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Same. And honestly, if they were upfront about it being used to pay the Holy See’s bills (and I had confidence it was stewarded virtuously), I’d gladly give toward that purpose.
 
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Tis_Bearself said:
I’m confused by all these Peter’s Pence articles, because I was raised to believe that Peter’s Pence was money one paid to fund the Vatican. As a child and teen, I always pictured it going to pay for St. Peter’s somehow.

When did it supposedly become about giving to the poor?

Likewise, I was raised to believe that if you wanted to give to the poor, you donated money to the missions (which today would be Missio or CNEWA or Aid to the Church in Need or Society for Propagation of the Faith, or similar) or to Catholic Charities.
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You are right that the money doesn’t necessarily have to go to the poor. But the vast majority of the promotion and media that is done for Peter’s Pence is on how the money goes to help the needy and the poor. On the USCCB website it says this:
The purpose of the Peter’s Pence Collection is to provide the Holy Father with the financial means to respond to those who are suffering as a result of war, oppression, natural disaster, and disease.
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http://www.usccb.org/catholic-giving/opportunities-for-giving/peters-pence/

On the official Peter’s Pence website:
The Peter’s Pence collection is a gesture of solidarity. Through it, every member of the faithful can participate in the Pope’s activity. It is an activity that supports the most needy and ecclesial communities in difficulty who approach the Apostolic See for help.

…

Peter’s Pence represents a small offering, accompanied by grand desires and visions. It is an offering that each member of the faithful decides to give to the Pope so that he can provide for the needs of the entire Church, especially in those places where the Church experiences greater difficulties.
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www.obolodisanpietro.va

Peter's Pence

The Peter’s Pence collection is a gesture of solidarity. Through it, every member of the faithful can participate in the Pope’s activity. It is an activity that supports the most needy and ecclesial communities in difficulty who approach the Apostolic See for help.
www.obolodisanpietro.va www.obolodisanpietro.va

You are technically correct that the Pope can do whatever he wants with the funds based on the Vatican statutes and Canon law that concern Peter’s Pence. He can give the money to the poor, or use it to fund the Vatican Curia and pay down debt, or he could use it to buy himself a new yacht. The problem I think people have is that the Vatican and other hierarchy in the Church like to give the impression that the money is mainly used for helping the poor or for organizations that need financial assistance. (Though I guess you vould argue that the Vatican needs financial assistance, though I don’t think that argument will fly with most people.) But the point is that if you want to use the money to keep the Curia afloat, then fine, they can do that, but they should do it without misleading as to its purpose.

Another observation that was made in the WSJ was that when you have a Pope that famously calls the Church a “poor chruch for the poor”, revelations like this undermine his message when most of the money is simply going to fund the Vatican bureaucracy. I agree that the best way to support the poor and needy is to donate to local organizations for that purpose. Large mega funds like Peter’s Pence or CCHD have too much scandal surrounding tgem these days to be sure that the donations are being used for a good purpose.
 
I really think they need to change their promotion. I for one don’t think I gave this year because it seemed to have turned into just another big charity fund. I already give to Missio, which is supposed to be the Pope’s charity for the missions, and to CNEWA and various others that help the poor. My purpose in giving to Peter’s Pence all these years was specifically to fund the Vatican, not to fund nebulous charitable initiatives. When you give to Missio you can see what you’re donating for, like some mission is building a home for retired nuns and you can contribute to that, or some other mission is digging new wells so people don’t have to haul water from the river, and you can contribute to that. I like that better when I see where the money goes.
 
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Peter’s Pence was never “only for the poor”. It is our money to support the Vatican.

Stay classy, LSN.
 
The problem is in the way Peter’s Pence is currently pitched.

In USA, the USCCB seems to present it as a war/ disaster/ emergency relief fund:

http://www.usccb.org/catholic-giving/opportunities-for-giving/peters-pence/

The Vatican itself suggests that a lot of it is used for those in need:

www.obolodisanpietro.va

Peter's Pence

The Peter’s Pence collection is a gesture of solidarity. Through it, every member of the faithful can participate in the Pope’s activity. It is an activity that supports the most needy and ecclesial communities in difficulty who approach the Apostolic See for help.
www.obolodisanpietro.va www.obolodisanpietro.va

As I said upthread and as the OP also posted, this is not really my traditional understanding of Peter’s Pence, which I thought of as supporting Vatican City and all its accoutrements and projects.
 
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I’m glad so many people on this thread are confirming that because I was seriously wondering if my mother had taught me wrong when I was a child and asked what was Peter’s Pence.
Mom said it was for the exact thing you just said.
 
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Stories like this one are why it’s important to support a variety of charities and look carefully into what they do with the money. Worldwide, the Catholic Church supports more hospitals, relief agencies, orphanages and senior’s care than any other single entity. It’s important to note that when one makes a donation, there are dozens of places within the world of the Church it might be destined for unless specified. I’ve never given money to the one here, Peter’s Pence, and am unlikely to, not because of what the article had to say, but because my interest in the faith is more a local one.

As with all media presentations, I will withhold a decision on the merits of the article until I see more from additional sources.
 
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I will read it. One may disagree with the WSJ’s editorial page, but it’s reporting is always first rate.
 
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http://www.vatican.va/roman_curia/secretariat_state/obolo_spietro/documents/index_en.htm

“Peter’s Pence is the name given to the financial support offered by the faithful to the Holy Father as a sign of their sharing in the concern of the Successor of Peter for the many different needs of the Universal Church and for the relief of those most in need.”

So what is the problem??
Stop reading and supporting the news who only wants to damage the Church. This is worse than that brazilian movie, at least everybody knows its a mockery, but this. This is evil.

Do all wants to be accountant now? Trust the Church, give some money and pray for the souls.
 
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I would note that this is around the 5th thread on this Peter’s Pence business, as at least three have already been closed or merged into one in the Catholic News section.

Here is one of the news threads that’s still open:
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Only 10% of Vatican’s $55 million ‘Peter’s Pence’ actually goes to poor, Wall Street Journal claims Catholic News
I was not aware that so much of “Peter’s Pence” was being used for Vatican administrative shortfalls and other Vatican items. I guess I never looked into it that closely in the past. I always thought of it as helping The Church of the Holy Sepulchre-types or International types of Catholic shrines and of course helping the most needy. . Wed Dec 11, 2019 - 4:22 pm EST Only 10% of Vatican’s $55 million ‘Peter’s Pence’ actually goes to poor, Wall Street Journal claims Dorothy Cummings McLean …
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On the other thread, several of us have described how we were always taught that the purpose of the “Peter’s Pence” collection was to support and fund the Vatican, which we generally understood to mean pay for the buildings, pay for running Vatican City (staff, security, etc), pay for the many other functions that the Vatican does (administration, evangelization, canonization, etc), pay for churches and shrines in other parts of the world that the Vatican owns or partially supports, and perhaps fund some pet projects of the Pope which could take the form of charitable giving.

In the past, Peter’s Pence was never understood as being primarily oriented towards charity giving. If you wanted to donate money to charity, you’d give it to the missions, or to Catholic Charities, or to some religious order that worked with the poor, or directly to a particular charity like Padre Pio’s hospital fund.

It seems like in recent years, the Peter’s Pence donation websites and info from USCCB have been rewritten to put an emphasis on charitable uses of the money and the result is articles like the one being discussed, because people, probably including Catholics, are confused about the purpose of the Peter’s Pence fund. In short, a big miscommunication.

I am happy to give to Peter’s Pence to support the Vatican, but did not give this year because their current marketing materials are very confusing over what the money is being used for. It seems clear from the WSJ article that most of the money is still going for the usual purpose of supporting the Vatican. So from my vantage point, nothing new to see here.
 
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