The Vatican has found itself in the middle of a critical financial crisis, which threatens to jeopardize the livelihood of retired clergy and staff worldwide
The Catholic Church isn’t getting the bulk of its money from lay voters. Their influence is rooted in the large, wealthy communities of the old money aristocracy and newer money financial sectors. Big donations have historically granted members an elevated role in the civilian side of the church. And churches are highly influential in promoting business relationships and political careers.
Of late, the American branch of the Catholic Church - historically a huge contributor to the Vatican directly and to foreign missions internationally - has cultivated a very far-right orientation within its political wing. You can see that in the conversion of current VP-elect JD Vance to Catholicism back in 2019. This, along with far-right catholic politicians like Ted Cruz and Marco Rubio and Jim Risch having increasing influence over US foreign policy. And the elevation of a slew of Catholic SCOTUS judges - Chief Justice John Roberts, Samuel Alito, Sonia Sotomayor, Brett Kavanaugh and Amy Coney Barrett - five of the last eight seated over twenty years.
These political leaders and the big financial interests that back them (US Bancorp, Bank of America, and Fidelity Investments most notably) are all historical Catholic Church mega-donors. The Catholic Church runs some of the biggest charities in the US (and the world). And diversion of funds from “Peter’s Pence” (donations directly to the Vatican) to regional church organizations administered by Americans with loyalty to their right-wing local parties, is what’s cutting into the available funds.
Last year, just under half of all Fidelity Charitable donors (48 percent) directed grants to religious houses of worship, the report found, down two points from three years earlier. A closer examination of the report reveals which nonprofits receive support, and Catholic organizations, which include dioceses as well as human services organizations with church ties, continue to rank among the top beneficiaries of support in many U.S. cities.
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According to the National Philanthropic Trust, nearly $46 billion was dispersed from donor-advised funds in the United States in 2021. That is a massive increase from just nine years earlier, when about $8.5 billion was given to charities from these funds.
The Catholic organizations - particularly in the US - are not running out of cash. The Vatican is running out of cash.
What little concessions they made to progressives was far too little too late while former popes sided with child abusers and rapists.
The joke is that Francis was still too far left for the big money Opus Dei Catholics in The United States and Europe.
They weren’t friendly enough to the rapists. That’s why the donations are drying up
Or maybe it’s because people can’t afford to donate money when they can barely afford rent and groceries
The Catholic Church isn’t getting the bulk of its money from lay voters. Their influence is rooted in the large, wealthy communities of the old money aristocracy and newer money financial sectors. Big donations have historically granted members an elevated role in the civilian side of the church. And churches are highly influential in promoting business relationships and political careers.
Of late, the American branch of the Catholic Church - historically a huge contributor to the Vatican directly and to foreign missions internationally - has cultivated a very far-right orientation within its political wing. You can see that in the conversion of current VP-elect JD Vance to Catholicism back in 2019. This, along with far-right catholic politicians like Ted Cruz and Marco Rubio and Jim Risch having increasing influence over US foreign policy. And the elevation of a slew of Catholic SCOTUS judges - Chief Justice John Roberts, Samuel Alito, Sonia Sotomayor, Brett Kavanaugh and Amy Coney Barrett - five of the last eight seated over twenty years.
These political leaders and the big financial interests that back them (US Bancorp, Bank of America, and Fidelity Investments most notably) are all historical Catholic Church mega-donors. The Catholic Church runs some of the biggest charities in the US (and the world). And diversion of funds from “Peter’s Pence” (donations directly to the Vatican) to regional church organizations administered by Americans with loyalty to their right-wing local parties, is what’s cutting into the available funds.
Report: Catholic charitable giving (and the church) are moving to the Southwest, July 2023
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The Catholic organizations - particularly in the US - are not running out of cash. The Vatican is running out of cash.
Probably because they didn’t get to vote in the pope. eyeroll
Martin Luther has entered the chat