Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

7/16/2014 (2 years ago)

Catholic Online (www.catholic.org)

New report reveals Vatican's financial information

The Vatican Bank-formally known as the Institute for the Works of Religion-has released a 107-page, detailed financial report for 2013.

A new report from the Vatican bank details just where the wealth of the Catholic Church is actually stored.

A new report from the Vatican bank details just where the wealth of the Catholic Church is actually stored.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

7/16/2014 (2 years ago)

Published in Europe

Keywords: International, Vatican, Finance


LOS ANGELES, CA (Catholic Online) - This release comes just one week after the group published highlights of its 2013 financial statement, which was released on July 8. The first statement said that the institute's net profit for 2013 was only $3.9 million, compared to a net profit of $117.7 million in 2012.

You can fight starvation through "prayer and action."

The detailed report, which was published on July 15 on the institute's website, is packed with information and explanations of the institute's focus, its investment policies, the division of its assets and more detailed information about its expenses, including contributions made to employee pensions.

The report also contains some odd curiosities.

The main depository of the Vatica's gold is the U.S. Federal Reserve, while medals and precious coins (more than $13 million) are kept in IOR vaults. A sharp decline in the price of gold meant that the value of Vatican gold fell from almost $40 million in 2012 to $27 million in 2013.

The Institute's officers also have almost $4.5 million in four funds set up for charitable purposes, including one to support religious orders and missionary work. Only the "Fund for Holy Masses" reported distributing any money in 2013 though, giving out almost $80,000.

The bank is also the sole owner of SGIR, an Italian-registered company which has almost $30 million in equity. The report describes SGIR as a property company.

The report also goes on to state that the institute's operating expenses include a "provision of [$1.3 million] payable to the owner of the building in which the IOR conducts business." The bank is located in the 15th-century Tower of Nicholas V on the eastern edge of the Apostolic Palace.

There is also nearly $340 million invested into external funds; 99% of the money is invested into funds that have their legal headquarters in Europe, while the remaining 1% is based in the U.S.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for August 2016
Universal:
Sports: That sports may be an opportunity for friendly encounters between peoples and may contribute to peace in the world.
Evangelization: Living the Gospel: That Christians may live the Gospel, giving witness to faith, honesty, and love of neighbor.



Comments


More Europe

Nuns oppressed at French beach Watch

Image of Nuns are no longer allowed to wear their habits to the beaches of Nice.

By Kenya Sinclair (CALIFORNIA NETWORK)

Rudy Salles, the Deputy Mayor of Nice, released a statement on Sunday regarding the use of religious clothing at public beaches. LOS ANGELES, CA (Catholic Online) - While many stand by France's decision to ban Muslim attire at public beaches, suddenly the thought of ... continue reading


Zuckerberg meets Pope Francis, what happens if they form an alliance? Watch

Image of Zuckerberg presents Pope Francis with a model of the Aquila, which will deliver internet to places without access.

By Marshall Connolly (CALIFORNIA NETWORK)

Pope Francis has met with Mark Zuckerberg and his wife, Priscilla at his home in the Vatican. The meeting was private, but the Vatican did issue a statement. LOS ANGELES, CA (California Network) - Pope Francis has met with Facebook founder Mark Zuckerberg at the ... continue reading


The Face of Italy's Earthquake: Who is the nun featured in this now ICONIC photo? Watch

Image of

By Abigail James (CALIFORNIA NETWORK)

She is now recognized as the face of Italy's earthquake, but who is the nun featured in the captivating photo of the earthquake's aftermath? LOS ANGELES, CA (Catholic Online) - Sister Marjana Lleshi was captured sitting, blood-stained and dirty, on the ground after ... continue reading


Four-year-old discovered ALIVE beneath dead sister's body in Italian earthquake rubble Watch

Image of Young girl dramatically rescued from debris.

By Kenya Sinclair (CALIFORNIA NETWORK)

Four-year-old Giorgia Renaldo was saved by the body of her eight-year-old sister, Giulia. LOS ANGELES, CA (Catholic Online) - According to Daily Mail, the 6.2-magnitude earthquake that struck near central Italy Wednesday morning left nearly 2,500 people homeless and ... continue reading


'I can only think of our nuns': Bishop disagrees with France's controversial burkini ban Watch

Image of France under fire for controversial burkini ban.

By Kenya Sinclair (CALIFORNIA NETWORK)

Amid fears of another ISIS attack in Europe, France's controversial "burkini" band has several calling hypocrisy. LOS ANGELES, CA (Catholic Online) - According to the Catholic Herald, the secretary-general of the Italian Bishops' conference, Bishop Nunzio Galantino, ... continue reading


Miracle after miracle! Rescuers pulling survivors from rubble of Italian quake Watch

Image of

By Marshall Connolly (CALIFORNIA NETWORK)

Rescuers are racing against time as they dig through the rubble, searching for survivors of a quake that struck central Italy on Wednesday morning. The 6.2 temblor leveled several villages, particularly medieval neighborhoods with stone construction. The death toll ... continue reading


Pope Francis reacts to devastating quake in Italy Watch

Image of A nun rests after escaping the quake.

By Marshall Connolly (CALIFORNIA NETWORK)

A major quake has struck Italy overnight, killing people as they slept. Entire buildings have collapsed and hundreds are missing. Aftershocks have worsened the damage. LOS ANGELES, CA (California Network) - A 6.2 magnitude quake has struck central Italy. The quake hit ... continue reading


Chilling video of Satanic human sacrifice circulates online - but is that what's going on? Watch

Image of Are scientists playing with the devil at CERN?

By Marshall Connolly (CALIFORNIA NETWORK)

The internet is abuzz with speculation over a video that shows a ritual sacrifice of a woman. The video was filmed at the CERN campus in Switzerland. CERN is the site of the world's largest particle accelerator. LOS ANGELES, CA (California Network) - Someone has shared ... continue reading


Shocking ad for Auschwitz death camp tours shunned by victims' families and Jewish leaders Watch

Image of Controversial bus advertisement makes waves in Czech Republic (CEN/Auto Xaver).

By Kenya Sinclair (CALIFORNIA NETWORK)

A satirical advertisement for infamous death camp Auschwitz has created controversy in the Czech Republic. LOS ANGELES, CA (Catholic Online) - According to Jerusalem Online, the ad features the death camp as an attractive vacation stop.There is a large image of the ... continue reading


'Misconceived tolerance': Christians forced to hide their Bibles and pray in secret Watch

Image of Christian persecution is rampant in Germany's migrant housing.

By Kenya Sinclair (CALIFORNIA NETWORK)

Germany is struggling with Christian persecution while the Muslim population seemingly goes unchecked. LOS ANGELES, CA (Catholic Online) - Deep within the migrant housing borders, Christians are sneaking around.Bibles and crucifixes are kept hidden, children are ... continue reading


All Europe News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

Daily Readings

Reading 1, First Corinthians 2:10-16
10 to us, though, God has given revelation through the Spirit, for the ... Read More

Psalm, Psalms 145:8-9, 10-11, 12-13, 13-14
8 Yahweh is tenderness and pity, slow to anger, full of faithful ... Read More

Gospel, Luke 4:31-37
31 He went down to Capernaum, a town in Galilee, and taught them on the ... Read More

Saint of the Day

Saint of the Day for August 30th, 2016 Image

St. Rumon
August 30: St. Rumon, also known as Ruan, Ronan, and Ruadan, ... Read More