Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

7/16/2014 (11 months 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 (11 months 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'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for June 2015
Universal:
That immigrants and refugees may find welcome and respect in the countries to which they come.
Evangelization: That the personal encounter with Jesus may arouse in many young people the desire to offer their own lives in priesthood or consecrated life.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Europe

The new 'Iron Curtain': Hungary plans massive border fence to keep migrants out Watch

Image of Border fence between United States and Mexico.

By Talia Ramos (NEWS CONSORTIUM)

Critics are not happy with the Hungarian government's plan to construct a 13-foot high border fence to narrow down the influx of illegal migrants coming to their country. The planned border is being compared to the historically terrifying Auschwitz and Iron Curtain ... continue reading


Horrific terrorist attacks in France, Tunisia and Kuwait unleashed simultaneously Watch

Image of

By Abigail James (NEWS CONSORTIUM)

Three different terrorist attacks occurred in three different areas, leaving a bloody line of death across three continents. The recent and horrific attacks reawaken the fear that ISIS' influence knows no boundaries. LOS ANGELES, CA (Catholic Online) - The attacks took ... continue reading


Mystery surrounds disappearance of American woman on ancient Catholic pilgrimage in Spain Watch

Image of Denise Thiem mysteriously disappears during her Catholic Pilgrimage in Spain.

By Linky C. (NEWS CONSORTIUM)

Denise Thiem, an American woman who quit her job to go around the world, disappeared while in a Catholic Pilgrimage in Astorga, Spain and has been missing for more than three months  Thiem's family is continuously searching for answers from the Spanish authorities ... continue reading


Riots and protests prompt the banning of the Uber taxi service in France Watch

Image of The taxi protests in Paris have shined yet another unflattering spotlight on the world's most popular tourist destination. Politicians on both sides of the spectrum condemned the violence.

By Catholic Online (NEWS CONSORTIUM)

Denied their livelihood by the cyber-taxi service Uber, which pairs up paying passengers with unlicensed drivers, cab drivers overturned cars and blocked roads in Paris. The Uber service is already illegal in France, and the French government reiterated this ... continue reading


ZOMBIE PARANOIA: Gravesites suggest that fear of reanimated dead stretches back to ancient Greece Watch

Image of The head and feet of one skeleton were covered with a

By Catholic Online (NEWS CONSORTIUM)

Modern man enjoys movies and TV shows involving the recently reanimated dead - "zombies," but in antiquity, the fear of the deceased suddenly coming back to life to wreak havoc with the living was at one time a real one. Skeletons have been unearthed and found ... continue reading


Ukraine's fragile ceasefire nearing collapse as rebels pound government positions Watch

Image of Fighters in Russian military uniforms and equipped with Russian military gear, though lacking insignias, have been spotted in Ukraine since early last year, part of a destabilizing effort to overthrow the Kiev government.

By Matt Waterson (NEWS CONSORTIUM)

The abundance of evidence that Russia is covertly and overtly assisting Ukrainian rebels in their fight against Kiev continues to grow, and now the commander of U.S. forces in Europe said that there is "clear and irrefutable evidence" that Russia is actively ... continue reading


Panicked Greeks withdraw $1 billion from banks in a single day Watch

Image of Expressing a mood of panic, and a resignation that no further help from Europe is forthcoming, Greeks withdrew over $1.1 billion dollars from their bank accounts last week.

By Catholic Online (NEWS CONSORTIUM)

Expressing a mood of panic, and a resignation that no further help from Europe is forthcoming, Greeks withdrew over $1.1 billion dollars from their bank accounts last week. This pushes the beleaguered European nation closer towards a default. LOS ANGELES, CA ... continue reading


Doctors found euthanizing patients without knowledge -- or consent in Belgium Watch

Image of Belgium became the first nation in the world in 2014 to eliminate age limits for euthanasia, allowing terminally-ill children to end their lives.

By Catholic Online (NEWS CONSORTIUM)

In the "forward-thinking" European nation of Belgium, it has been discovered that many doctors there - pun intended. - have been "jumping the gun." Raphael Cohen-Almagor, a professor of philosophy and ethics at the United Kingdom's Hull University, has ... continue reading


Pope Francis' environmental encyclical will be published this Thursday Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

Pope Francis' long awaited environmental encyclical, entitled Laudato Si, on the care of our common home will be published this Thursday. The encyclical tackles issues such as climate change. It is expected to be met with controversy. LOS ANGELES, CA (Catholic ... continue reading


Pope's former ambassador to the Dominican Republic faces child sexual abuse charges Watch

Image of Jozef Wesolowski served as nuncio to Bolivia, Kazakhstan, Tajikistan, Kyrgyzstan and Uzbekistan. The Vatican said it was investigating Wesolowski in August of 2013 and removing him from his post.

By Catholic Online (NEWS CONSORTIUM)

Pope's former ambassador to the Dominican Republic, Jozef Wesolowski will be tried at the Vatican on child sexual abuse charges beginning next month, the Vatican says. The 66-year-old Wesoloswki is the highest-ranking former Vatican official to be arrested for ... continue reading


All Europe News

Newsletters

Newsletter Sign Up icon

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

Daily Readings

Reading 1, Genesis 21:5, 8-20
5 Abraham was a hundred years old when his son Isaac ... Read More

Psalm, Psalms 34:7-8, 10-11, 12-13
7 The angel of Yahweh encamps around those who fear ... Read More

Gospel, Matthew 8:28-34
28 When he reached the territory of the Gadarenes on ... Read More

Saint of the Day

Saint of the Day for July 1st, 2015 Image

Bl. Junipero Serra
July 1: Miguel Jose Serra was born on the island of Majorca on November ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter