Peter’s Pence collection rises, but expenditures outpace revenue
June 16, 2022
CWN Editor's Note: The Peter’s Pence collection took in €46.9 million ($49.3 million) in 2021, but the fund’s expenditures of €65.3 million left a deficit, the Vatican has disclosed.
The Vatican offered an unusually full report on the worldwide collection, which supports the work of the Roman Pontiff, including figures on expenditures for the first time. Most of the funds were used to support Vatican offices and embassies, with some also used to support local dioceses and humanitarian projects. The deficit was funded by reserves from previous years.
The Peter’s Pence collection for 2021 exceeded earlier estimates, which had projected a decrease of 15%; in fact the total was higher than the previous year’s collection of about €44 million. The annual income from the Peter’s Pence collection had dropped dramatically from 2015 to 2021.
US donors supplied nearly 30% of the worldwide collection. Italy was the second-largest source, with Germany third.
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