Vatican City – The 2024 Peter’s Pence Report has been made public, shedding light on the fund that supports the Pope’s mission and charitable works worldwide—an essential instrument for the ministry of the Successor of Peter. The report reveals a significant increase in income, a sharp drop in expenditure, and a reduced contribution from the fund to the Holy See’s central activities.
The report also highlights a downsizing of institutional interventions and an increased share from private donors.
Donations up: +€5.9 million in one year
In 2024, Peter’s Pence collected €54.3 million, nearly €6 million more than in 2023. The rise was driven primarily by private donors (€8.9 million in 2024 vs €2.1 million in 2023), while donations from dioceses remained stable (€31.8 million in 2024 compared to €31.2 million in 2023).
Notably, France surged from €1 million to €8 million, while Italy and Brazil declined, and the United States—historically the largest contributor—remained stable, despite years of tension during Pope Francis’s pontificate, in which he often criticised the U.S. episcopate and laity.
Spending down: but what was cut?
Total expenditures fell from €109.4 million in 2023 to €75.4 million in 2024—a reduction of over €34 million. The most significant cut was to funds allocated to the Holy See to support its apostolic mission, which dropped from €90 million to €61.2 million (−€28.8 million). A figure that invites serious reflection.
Meanwhile, financial charges were nearly eliminated, from €6.4 million in 2023 to €0.9 million in 2024.
Fewer withdrawals from reserves: a sign of stability?
Another positive note: in 2024, only €16.5 million was withdrawn from the Peter’s Pence reserve, compared to €51 million in 2023. This suggests the budget is moving toward greater financial self-sufficiency, without heavily depleting the fund’s assets.
Charitable projects remain strong: 239 initiatives worldwide
Spending on direct charitable projects remained stable, rising slightly from €13 million to €13.3 million (+€0.3 million). The number of projects even increased, from 236 in 2023 to 239 in 2024. Africa remained the top beneficiary (43% of the funds), followed by Europe and Asia.
However, it’s worth noting that charitable support only represents a portion of the total: out of over €367 million in total Holy See spending in 2024, Peter’s Pence covered just 17%, down from 24% in 2023. This decline could indicate two things: a reduced ability of the fund to influence Vatican finances or a strategic shift toward more symbolic, less structural projects.
The Pope’s mission
Though Peter’s Pence was created to support the Pope’s mission, its impact in 2024 was more limited and targeted. Local charitable projects were prioritised—possibly more visible in the media—while support for global evangelisation and the institutional apparatus of the Church diminished.
This aligns with Pope Francis’s approach, which has often favoured image over substance.
Encouraging signs and critical questions
The 2024 data signals a positive recovery. The rise in donations, particularly from private sources, is reassuring. But the reduced impact of Peter’s Pence on the day-to-day operations of the Holy See calls for an open, honest, and ecclesially mature reflection.
True transparency—not just in numbers, but also in narrative and pastoral discernment—is the key to rebuilding trustin a tool that is vital for the unity and mission of the universal Church. In this respect, the pontificate of Pope Leo XIV offers encouraging prospects. Prevost has shown a clear commitment to ensuring that the Holy See’s resources are used transparently and objectively, directed towards genuinely needed projects rather than media-driven or externally pressured initiatives.
In this light, Pope Leo XIV’s words to the Roman Curia resonate with particular force: “Popes come and go, but the Curia remains. This is true for every local Church and for the Curia of the Bishop of Rome. The Curia is the institution that preserves and transmits the historical memory of a Church, of the ministry of its Bishops. This is very important. Memory is an essential element in a living organism. It is not only oriented toward the past, but nourishes the present and guides the future. Without memory, the journey loses direction and meaning. So, dear friends, this is the first thought I wish to share with you: working in the Roman Curia means helping to keep alive the memory of the Apostolic See, in the vital sense I have just described, so that the Pope’s ministry may be carried out in the best possible way. By analogy, the same applies to the offices of the Vatican City State.”
Pope Leo XIV, having personally experienced the responsibility of leading a Dicastery, knows well the importance of the resources that reach the Holy See. These are vital to enable the Roman Curia to fulfil its missionary service to the Church worldwide. Moreover, Leo XIV appears determined to refocus the mission of the Secretariat of State, giving it once again the ability to manage its own economic resources—something that had been altered under Pope Francis, seriously hindering its effectiveness.
E.R.
Silere non possum