How Wealthy is the Catholic Church?
When people think of the supposed wealth of the Church they most likely picture the grandeur of St Peter’s Basilica and the works of art within the walls of the Vatican.
It is wise to recall though that the Church does not consider itself the owners of these items but rather the custodians of them for all humanity.
For if the Catholic Church had not safeguarded the great treasures of culture for two thousand years through war and through peace, who do we suppose was going to do it?
Something else worth remembering is that many of the pieces that are today regarded as great works of art were originally created as works of devotion, and the only reason they have existed long enough to be considered so valuable, is again because the Catholic Church has watched over them with solicitude across the centuries.
The Vatican has for some years publically released its annual budget, although as a sovereign nation it is under no requirement to do so. The Vatican runs with an annual operating budget of around $300 million but keep in mind that the Vatican employs close to 3000 people and supports 1000 retirees. With that same money it keeps St Peter’s Basilica and the key Churches of Rome in operation, it maintains the Vatican museums and provides important missionary services such as the Vatican radio and newspaper.
This budget does not include the monies that are sent in from the lay faithful around the world to support the charitable works of the Pope known as ‘Peter’s Pence’. Totaling around $70 million each year, Peter’s Pence is used to support ecclesial communities most often in mission countries who have no one else to turn too.
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