According to a Wall Street Journal exposé series by Francis X. Rocca, not only does the Vatican use donations for the poor to plug its budget deficit, but only 10% of donations to the Vatican’s Peter’s Pence collection go to charitable works. Although sources of information are not always named and generic resources such as “people familiar with the funds” are used in the article, nonetheless, many faithful Catholics fear this is just the beginning of finding out where the money is spent.
WSJ—VATICAN CITY—Every year, Catholics around the world donate tens of millions of dollars to the pope. Bishops exhort the faithful to support the weak and suffering through the pope’s main charitable appeal, called Peter’s Pence.
What the church doesn’t advertise is that most of that collection, worth more than $50 million annually, goes toward plugging the hole in the Vatican’s own administrative budget, while as little as 10% is spent on charitable works, according to people familiar with the funds… Read the WSJ article ( you will need a WSJ subscription)>>