URGENT UPDATE: In a significant move, Pope Leo XIV has just announced the cancellation of a controversial fundraising commission established under Pope Francis during his hospitalization. This decisive action, taken on Thursday, aims to address the financial turmoil surrounding the Vatican and restore credibility to its fundraising efforts.
The Pope’s decree formally abolishes the commission’s statutes, dismisses its members, and reallocates its assets back to the Holy See. The Vatican’s patrimony office will oversee the dissolution process. A new working group, composed of papally approved members, will be established to design a more effective and transparent fundraising structure moving forward.
This development raises eyebrows, as the original commission was announced on February 26, 2025, while Francis was battling double pneumonia. Critics have voiced concerns over the lack of professional fundraising expertise among its members, all of whom were Italian. The commission’s leadership included officials from the Secretariat of State, the very office that had previously faced scrutiny for mismanagement of a €600 million ($684 million) sovereign wealth fund following a scandalous London real estate deal.
The perception that this commission was launched to divert funds during a vulnerable time for Francis has sparked outrage among many, particularly wealthy American donors who contribute significantly to the Vatican. The absence of qualified fundraisers and the commission’s Italian-only composition raised immediate flags regarding its effectiveness and accountability.
Pope Leo, known for his background in mathematics, is under pressure to instill greater financial transparency within the Vatican. Wealthy American patrons have been closely observing the Pope’s actions, hoping he will rectify the questionable financial practices of his predecessor.
As the first American pope, Leo’s actions signal a commitment to correcting the legacy of Francis’s pontificate as he approaches the new year. This cancellation could mark a pivotal turning point in the Vatican’s fundraising strategies, potentially reshaping its relationship with international donors.
Looking ahead, the Vatican will need to rebuild trust with its benefactors while ensuring that future fundraising efforts are managed with integrity and in alignment with the Church’s values.
Stay tuned for more updates as this story develops.
