Pope Leo XIV has officially dissolved a controversial fundraising commission established by his predecessor, Pope Francis. The decision, announced on Thursday, follows concerns over the commission’s formation under dubious circumstances while Pope Francis was hospitalized for double pneumonia. This move marks a significant step in Pope Leo’s efforts to address financial management issues within the Vatican.
In a formal decree, Pope Leo XIV abrogated the commission’s statutes, terminated its members, and directed that its assets be transferred to the Holy See. The oversight of the commission’s dissolution will fall to the Vatican’s patrimony office. A new working group will be assembled, consisting of members approved by the Pope, to devise future fundraising strategies and structures.
Background of the Fundraising Commission
The original announcement regarding the commission occurred on February 26, 2023, while Pope Francis was receiving treatment in the hospital. At that time, top officials from the Secretariat of State were present, which raised questions about the timing and motives behind the commission’s creation.
The commission was composed entirely of Italian members, none of whom possessed professional fundraising experience. Its president was the assessor of the Secretariat of State, the same office that had previously lost significant funds due to a scandal involving a London property deal. Critics pointed out that placing power back in the Secretariat of State, combined with the absence of qualified fundraisers, undermined the commission’s credibility.
The situation was further complicated by the fact that the United States, which is the largest donor to the Vatican, was not represented on the commission. This lack of diversity in leadership and expertise led to suspicions that the commission was an attempt by the Italian-led Secretariat of State to capitalize on a vulnerable moment for Pope Francis, seeking to re-establish a flow of unregulated donations after losing control of a €600 million ($684 million) sovereign wealth fund.
Pope Leo’s Vision for Financial Reform
Pope Leo XIV’s decree to abolish the commission appears to be a deliberate effort to clear up previous financial mismanagement and start anew. The Pope, who has a background in mathematics, is expected to implement greater transparency and accountability in the Vatican’s finances. This initiative is particularly important to affluent American donors, who have expressed a desire for improved oversight of the Holy See’s financial practices.
As the end of 2025 approaches, Pope Leo XIV is focusing on wrapping up the loose ends of Pope Francis’ pontificate while also preparing to establish his own agenda. The dissolution of the fundraising commission is just one of several steps he is taking to ensure a more stable financial future for the Holy See.
The announcement has drawn attention from various quarters, emphasizing the critical role that donations play in the Vatican’s revenue stream. The new working group is expected to provide innovative proposals for fundraising that align with the Pope’s vision for a more accountable and transparent financial system.
This decisive action signals Pope Leo XIV’s commitment to reforming the financial landscape of the Vatican, addressing past issues, and positioning the Holy See for a more sustainable future.
