Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

7/16/2014 (4 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 (4 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'


2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for November 2014
Lonely people:
That all who suffer loneliness may experience the closeness of God and the support of others.
Mentors of seminarians and religious: That young seminarians and religious may have wise and well-formed mentors.



Comments


More Europe

Evangelical, Missionary Pope Francis Calls Europe to Return to Jesus Christ and Christian Roots Watch

Image of The European Parliament building

By Deacon Keith A Fournier

I believe that Europe has many resources for going forward. It's like a sickness that Europe has today. A wound. And the greatest resource is the person of Jesus. Europe, return to Jesus! Return to that Jesus whom you have said was not in your roots! And this is ... continue reading


Father William Nolan appointed by Pope Francis as Bishop of Galloway Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

Pope Francis has appointed Father William Nolan, vicar general of Motherwell, as Bishop of Galloway. Father Nolan says he is "over-awed" by the appointment. He has served in the parish of Our Lady of Lourdes, East Kilbride, for 20 years. Nolan will replace ... continue reading


Rome's Colosseum to host cultural events again Watch

Image of Occasional concerts are held inside the Colosseum but the rebuilding of the arena's wooden flooring would allow more frequent events.

By Catholic Online (NEWS CONSORTIUM)

It once hosted bloody sports galore, with gladiators fighting to the death as well as Christians being thrown to the lions. Now, Rome, Colosseum will begin hosting less blood-soaked events. Italy's culture minister has given the green light for special events ... continue reading


Pope Francis appoints Robert Sarah to head the Vatican's congregation of liturgical practices Watch

Image of Robert Sarah, the 46-year-old president of the Pontifical Council Cor Unum, has been named by Pope Francis to head a congregation on liturgical practices.

By Catholic Online (NEWS CONSORTIUM)

Cardinal Robert Sarah of Guinea has been appointed the new head for the Vatican congregation that oversees and determines the liturgical practices of the Catholic Church world wide. LOS ANGELES, CA (Catholic Online) - Pope Francis made the appointment on November ... continue reading


SCARY VIDEO! What the heck blew up in Russia's sky? Was it a meteor or something stranger?! Watch

Image of A still taken from footage of the phenomena that took place in Russia on November 14.

By Catholic Online (NEWS CONSORTIUM)

What was the mysterious phenomena that occurred in Russia and was witnessed and captured on camera by dozens of motorists? It appears that nobody knows for sure, and even experts are left scratching their heads while they struggle to find reasonable explanations. ... continue reading


Who really was Jack the Ripper? New evidence points to one man Watch

Image of A criminologist from England may have new evidence that points towards the real identity of Jack the Ripper.

By Catholic Online (NEWS CONSORTIUM)

A new theory about the identity of infamous 19th century London serial killer Jack the Ripper may explain why the murderer was able to elude contemporary and modern authorities for so long and escape justice. LOS ANGELES, CA (Catholic Online) - Dr. Gareth Norris, a ... continue reading


Which countries drink the most beer? Our list may surprise you! Watch

Image of Beer is one of the most widely consumed beverages in the world.

By Catholic Online (NEWS CONSORTIUM)

Who still drinks beer?  Beer is one of the most widely consumed beverages, behind water and tea.  Beer is also a Catholic tradition, alongside wine-making, and has been widely practiced in monasteries, especially in Europe. Now, a list has emerged detailing ... continue reading


To raise money for the poor, Pope Francis to raffle gifts Watch

Image of The tickets are only a modest 10, but this includes a new Fiat Panda 4x4, with all optional extras.

By Catholic Online (NEWS CONSORTIUM)

Talking the talk, walking the walk: Pope Francis has done it again. The pontiff is raffling gifts that have been given to him in order to raise money for the poor. Posters announcing the raffle have gone up all over Vatican City. LOS ANGELES, CA (Catholic ... continue reading


Russia could destabilize Eastern Europe if Ukraine left unchecked, Merkel warns Watch

Image of It's exceedingly tough talk from German Chancellor Angela Merkel. She says that Russia's annexation of Crimea and subsequent destabilization of eastern Ukraine

By Catholic Online (NEWS CONSORTIUM)

It's exceedingly tough talk from German Chancellor Angela Merkel. She says that Russia's annexation of Crimea and subsequent destabilization of eastern Ukraine "called the whole of the European peaceful order into question." Adding to the gloomy outlook was a ... continue reading


The Pope Who Builds Showers for the Poor under St Peters Rattles our Comfort Zones Watch

Image of Pope Francis embracing Jesus in the face of the poor

By Deacon Keith A Fournier

Those who love the poor - like Jesus loved the poor- are an instruction manual for the rest of us. They are a sign of the kingdom, making it present in their wake. We have such a man in this Pope named Francis. He recognizes that poverty is more than a lack of ... 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, Revelation 15:1-4
1 And I saw in heaven another sign, great and ... Read More

Psalm, Psalms 98:1, 2-3, 7-8, 9
1 [Psalm] Sing a new song to Yahweh, for he has ... Read More

Gospel, Luke 21:12-19
12 'But before all this happens, you will be seized ... Read More

Saint of the Day

Saint of the Day for November 26th, 2014 Image

St. John Berchmans
November 26: Eldest son of a shoemaker, John was born at Diest, Brabant. He ... 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