By Antonella Palermo
In 2023 the income of the Peter’s Pence Fund, intended to meet the needs of the universal Church and to support numerous initiatives in favour of those most in need, amounted to 52 million euros (48.4 million from offerings received and 3.6 million from financial income realized from the remuneration of assets), while the expenditures totalled 109.4 million euros.
USA the largest benefactor
The donations to Peter’s Pence are received in three main forms:
1. The collection taken up in churches around the world on the Solemnity of Saints Peter and Paul, and subsequently forwarded to the Holy See by Italian dioceses and, via the Pontifical Representations, from overseas dioceses
2. Direct offerings sent through bank and postal account transfers, checks, or through the website with credit cards and PayPal
3. Bequests from inheritances.
In 2023, dioceses contributed some 31.2 million euros, amounting to 64.4 percent of the income; while 4.4% (2.1 million euros) came from private donors. In addition, Foundations contributed 13.9 million euros (28.8%) with the remainder – 1.2 million euros/2.4% coming from Religious Orders.
The United States was the largest benefactor, by a wide margin, contributing 13.6 million euros, amounting to 28.1%, of the total income, with the next largest contributions coming from Italy (€3.1 million/6.4%) and Brazil (€1.9 million/3.9%).
Funding 236 projects in 76 countries
Of the 103 million disbursed by the Peter’s Pence Fund in 2023, 90 million euros were used to support the activities carried out by the Holy See in service of the Pope’s apostolic mission and 13 million to support projects of direct assistance to those most in need: families, dioceses, parishes and religious institutes in need; migrants and refugees; populations affected by war and famine; communities affected by the adverse consequences of climate change; those in need of humanitarian assistance.
In 2023, the Peter’s Pence Fund supported 236 projects in 76 countries, funding them for a total amount of 13 million euros. The Fund contributed 5.4 million euros 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.
The report notes that, with reference to the projects carried out in Europe, half a million euros were used to fund scholarships for priests, seminarians, and religious from Africa, Latin America, and Asia to study at pontifical universities; while just under a million more was donated to war-torn Ukraine to sponsor various pastoral and social initiatives.
An increase in donations
In 2022, Peter’s Pence revenues amounted to 107 million (more than double the 2023 figure), while expenditures had amounted to 95.5 million. The report notes that a significant capital gain had been realized in 2022 through the sale of real estate assets of the St. Peter’s Obolus Fund.
In fact, in 2023 donations increased by nearly five million euros, amounting to €48.4 million compared to the €43.5 million in donations received in 2022.
Expenditures in support of the Pope’s apostolic mission amounted to 370.4 million euros, of which 90 million euros came from the Peter’s Pence Fund. The funds were disbursed among 68 dicasteries, entities, and organisms of the Holy See. – Vatican News
