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Vatican City, Dec 1, 2025 / 16:51 pm (CNA).

The Holy See closed the 2024 fiscal year with a surplus of 1.6 million euros ($1.86 million), according to the 2024 Consolidated Financial Statement published Nov. 26 by the Vatican Secretariat for the Economy. This result represents a substantial change compared with the deficit of 51.2 million euros ($59.5 million) recorded in 2023, according to the Vatican.

The last public report from the Holy See was from 2020 — published in 2021 — and showed a deficit of 66.3 million euros ($77 million).

The current report indicates that the financial improvement is based on a reduction in the operating deficit, which decreased by almost 50%, from 83 million to 44 million euros, ($96.4 to $51.1 million) driven by a 79-million-euro ($91.8 million) increase in revenue, mainly from donations and hospital management, and by strict cost control that partially offset inflation and rising personnel costs.

The report also highlights the performance of financial management with positive results of 46 million euros ($53.4 million), higher than the previous year thanks to capital gains obtained from the sale of historical investments and the start of operations of the Investment Committee.

Surplus excluding hospitals

Excluding hospital entities, the Holy See recorded a surplus of 18.7 million euros ($21.7 million), although the secretariat warns that this figure reflects extraordinary accounting effects and a one-time increase in donations, so its sustainability will depend on future fiscal years.

The Holy See’s balance sheet reveals a total allocation of 393.29 million euros ($457 million) destined for the apostolic mission and the pontifical funds, not including the financing of hospitals. This budget reflects the priority of supporting the Church’s core activities worldwide and shows how resources are distributed to guarantee the continuity of the apostolic mission.

Approximately 83% of the funds are concentrated in five strategic areas that underpin the pastoral and social work of the Holy See. The most significant allocation, amounting to 146.4 million euros ($170.1 million) — equivalent to 37% of the total — is dedicated to supporting local Churches in difficult situations and for evangelization, recognizing the importance of strengthening the most vulnerable communities and supporting the spread of the faith in territories where the mission faces greater challenges.

Worship and evangelization constitute the second most significant category, representing 14% of the resources. This allocation supports liturgical activities, religious formation, and initiatives for spreading Church teachings worldwide. A ​​further 12% is specifically dedicated to communicating the pope’s message, ensuring that his teachings, exhortations, and statements effectively reach the faithful and the international community.

Ten percent of the budget is allocated to charitable services

Likewise, 10% of the budget is dedicated to maintaining the international presence of the Holy See through the apostolic nunciatures, which play an essential diplomatic and pastoral role in relations with states and local Churches. Another 10% is allocated to charitable services, reinforcing humanitarian and assistance initiatives that respond to the most urgent needs of the poor and marginalized.

The remaining 17% finances activities such as the organization of ecclesial life, management of historical heritage, and support for academic institutions. The secretariat emphasized that these allocations reflect consistency between the Church’s pastoral mission and its financial management.

The report concludes that, although the result is encouraging, the full financial sustainability of the Holy See will continue to depend on its performance in the coming fiscal years, marking 2024 as a year of economic recovery after years of deficits.

Maximino Caballero Ledo, prefect of the Secretariat for the Economy, gave a comprehensive explanation of the results in an interview with Vatican media, highlighting both the achievements and the need for prudence and continuity in management.

“The data reflect remarkable progress in consolidating the economic situation of the Holy See,” Caballero said. “It is not only about maintaining a balanced budget but also about strengthening our ability to make the best use of every contribution received, making the service to the mission of the universal Church more solid and sustainable.”

The financial document presented by the Vatican shows that the structural operating deficit was reduced by almost half, from 83.5 million euros to 44.4 million euros ($97 million to $51.6 million). This is mainly due to an increase in revenue, which amounted to almost 79 million euros ($91.8 million) compared with the previous year, driven by greater donor participation, positive results from hospital activities, and progress in real estate and commercial management.

Caballero emphasized that these “favorable dynamics,” combined with prudent spending control and a constant effort to improve operational efficiency, offer a positive outlook for the Vatican’s finances. However, he recalled that “the deficit of 44.4 million euros [$51.6 million] indicates that there is still a long way to go. Financial sustainability is not only a possible objective but a necessary condition to guarantee the continuity of our apostolic mission.”

Growth in donations and the trust of the faithful

The prefect noted that contributions from the faithful experienced a rebound in 2024 after years of slowdown. “This increase represents an encouraging sign of renewed participation by the faithful and local Churches in the mission of the Holy See. However, these dynamics are variable and always require prudence and realism in their interpretation,” he emphasized.

The analysis of expenditures confirms, according to Caballero, that most resources continue to be allocated directly to apostolic activities, “reflecting the consistency between the priorities of the mission and the financial decisions that make it possible. This allows for the strengthening of pastoral initiatives and support for the most vulnerable communities, consolidating a balanced and responsible management of resources.”

Financial management and future prospects

The 2024 balance sheet also shows positive results of 46 million euros ($53.4 million) from financial activities, including extraordinary transactions related to the restructuring of the investment portfolio in accordance with the new policy approved by the Investment Committee. Caballero warned that “these capital gains are not repeatable with the same intensity in future years and reflect the natural volatility of financial activity.”

Therefore, he emphasized that “along with prudence in spending, it is essential to continue working on the revenue side: donations, fundraising, asset valuation, and consistent investment management. The goal is not to pit these dimensions against each other but to consolidate progress and gradually strengthen a more stable economic foundation.”

Toward full financial sustainability

The prefect concluded by highlighting that the 2024 fiscal year closed with a small surplus of 1.6 million euros ($1.86 million), an encouraging sign that, according to him, “demonstrates that the direction taken is positive. Now we must consolidate this progress, aware that some of the results come from nonrecurring elements. Financial sustainability is essential to ensure the continuity of the Holy See’s mission, which by its nature requires a stable economic foundation.”

Caballero emphasized that “it is not simply a matter of balancing the budget but of strengthening our ability to optimally utilize every contribution received, making the Holy See’s service to the entire universal Church more solid and sustainable.”

This story was first published by ACI Prensa, CNA’s Spanish-language news partner. It has been translated and adapted by CNA.

ACI Prensa Staff, Dec 1, 2025 / 16:21 pm (CNA).

The executive director of Aid to the Church in Need (ACN), Regina Lynch, thanked Pope Leo XIV for appointing Cardinal Kurt Koch as the new president of the pontifical foundation.

“We very much look forward to having Cardinal Koch as our president and for the guidance he can bring to our mission to persecuted and suffering Christians all over the world. We are grateful to Pope Leo XIV for this appointment and for his interest in our work,” Lynch said.

Koch is 75 years old and replaces Cardinal Mauro Piacenza, who is 81 years old and has led the institution since 2011.

Piacenza was the first president of ACN since the organization received the title of pontifical foundation.

In a Nov. 27 statement published on the ACN website, Lynch highlighted the work carried out by Piacenza, in whom the international institution “has always had a steady and trusted mentor and president.”

Furthermore, Piacenza “was always a great supporter of ACN initiatives, such as the One Million Children Praying the Rosary and the Middle East campaigns, and we are very grateful for his service to suffering and persecuted Christians.”

Koch is the prefect of the Dicastery for Promoting Christian Unity and has headed the Commission for Religious Relations with Judaism since 2010. He has also closely collaborated with the Catholic charity over the years, ACN reported.

The organization highlighted its new president’s experience in ecumenical and interreligious relations, as these are an essential part of the pontifical foundation’s mission, “especially in countries where Christians, or Catholics, are a minority.”

This story was first published by ACI Prensa, CNA’s Spanish-language news partner. It has been translated and adapted by CNA.

Pope Leo XIV marks the second day of his Apostolic Journey to Lebanon with visits to the local Church, a meeting with the nation's religious leaders, and a festive celebration with young people.

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Lebanese young people share their thoughts about the Pope’s meeting with them at the square in front of the Maronite Patriarchate of Antioch in Bkerké on December 1, and explain what life is like as a young person in a country that has faced multiple crises in the last decades.

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Meeting with young people in Lebanon, Pope Leo XIV urges them not to give into despair, rather to cultivate friendships rooted in genuine love and to keep the enthusiasm that is needed "to change the course of history."

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At an ecumenical and interreligious encounter in Beirut, Pope Leo XIV upholds the Catholic Church’s desire to foster dialogue inspired by divine love, so as to affirm the dignity of every human being.

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WASHINGTON – Pope Leo XIV has accepted the resignation of Most Reverend W. Michael Mulvey, 76, from the pastoral governance of the Diocese of Corpus Christi, and has appointed Most Reverend Mario A. Avilés, CO, currently auxiliary bishop of Brownsville, as his successor. 

The appointment was publicized in Washington, D.C. on December 1, 2025, by Cardinal Christophe Pierre, apostolic nuncio to the United States.

The Diocese of Corpus Christi is comprised of 10,951 square miles in the State of Texas and has a total population of 582,684, of which 209,726, are Catholic.

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WASHINGTON - The U.S. Conference of Catholic Bishops’ (USCCB) Subcommittee on Catholic Home Missions convened this fall to review grant requests for the 2025-2026 year. The subcommittee awarded more than $7.8 million in grants for 69 dioceses and eparchies. These grants are made possible through the generosity of the Catholic faithful to the Catholic Home Missions Appeal, an annual collection taken in many U.S. dioceses.

Home mission dioceses and Eastern Catholic eparchies are found across the United States and its territories, many in regions with small Catholic populations in rural areas affected by economic hardship. Grants from the subcommittee help mission dioceses here in the U.S. support parish and diocesan operations, as well as ministries of evangelization, catechesis, and healing that grow and strengthen the Church.

“When parishioners contribute to the Catholic Home Missions Appeal, they bring faith, hope and love where it is most needed, regardless the amount of their gift. Their gifts have a profound, positive impact on Catholics who face poverty or the isolation of being a small, minority faith,” said Bishop Chad Zielinski of New Ulm, chairman of the Subcommittee on Catholic Home Missions.

Among the recipients:

• The Diocese of Rapid City’s Standing Rock Reservation Ministry conducts home visitation and parish faith formation activities led by three Franciscan sisters and a priest who serve members of the Standing Rock Sioux Tribe. The ministry team cares for about 500 Catholics at four parishes on the 2.3 million acre reservation, while offering accompaniment and social support to 8,000 other residents of all faiths.
• The Diocese of Brownsville, Texas, received a grant for its Office of Deliverance Ministry to provide spiritual and emotional care for those who experience spiritual wounds and oppression by sin. This ministry receives more than 100 visits a month from people seeking spiritual liberation and healing through prayers of deliverance and the sacraments of Reconciliation and Anointing of the Sick.
• The Syro-Malankara Eparchy of St. Mary Queen of Peace traces its roots to the missionary work of St. Thomas the Apostle in India, but its 24 priests serve about 11,000 parishioners across the United States. Although the eparchy (the term for an Eastern Catholic diocese) has no paid lay staff, the grant empowers a wide range of ministry, including a youth summer camp, retreats, family conventions and vocational discernment.

“These stories reveal the wide range of spiritual and financial needs that the Catholic Home Missions Appeal addresses,” Bishop Zielinski said. “Parishioners in mission dioceses already give sacrificially from their limited means. My prayer is that their example of faith will inspire the rest of us dig deeper to help our neighbors carry out the mission that Jesus has entrusted to us.”

For more information on Catholic Home Missions, please see:https://www.usccb.org/committees/catholic-home-missions 

For those who have not yet donated but wish to support this work, #iGiveCatholic accepts funds for the Catholic Home Missions program.

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