The feast of Sts. Peter and Paul is the traditional day for the Peter's Pence collection, a chance to support the pope's charity work directly.
Pope Leo said today:
This feast also marks the annual Peter’s Pence collection, which is a sign of communion with the Pope and participation in his apostolic ministry. I heartily thank all those who, with their gifts, support my first steps as the Successor of Peter.
In 2024, American Catholics remained the largest global supporters of the Peter’s Pence campaign, contributing approximately €14 million — just over a quarter of the total €54.3 million received by the Vatican’s Obolus fund, according to a report released by the Holy See on June 27, 2025 .
That donation underpinned a sharp reduction in the fund’s financial deficit, which fell from €57.4 million in 2023 to €17.4 million in 2024.
The dramatic improvement, amounting to a €40 million swing, reflects both increased giving and prudent budget cuts.
France saw the most striking increase among other major contributors, surging from just €1 million in 2023 to €8 million in 2024 — its highest-ever level and making it the second-largest donor after the U.S. This marks a significant shift in France’s support for the Pope’s charitable mission.
Italy, Brazil, Germany, South Korea, and Mexico also participated, although their contributions varied. Italian giving dipped to €2.8 million, while Brazil fell to €1.7 million. Germany, South Korea, and Mexico offered modest but rising support, donating €1.5 million, €1.4 million, and €1.1 million respectively .
Financial breakdown and structural reforms
Total income for the fund climbed 12%, thanks largely to stronger private donations, which nearly quadrupled — from €2.1 million to €8.9 million. Revenue from investments remained steady at about €3.7 million.
Meanwhile, expenses dropped by 31%, to €74.5 million — most notably through cuts in financial management and administrative costs. A €16.5 million infusion from asset sales also helped bridge the remaining gap.
Importantly, nearly 82% of spending still supports the Roman Curia, but funding from the Peter’s Pence now covers just 17% of the Curia’s total budget — down from 24% — highlighting ongoing Vatican efforts to broaden its funding base.
Sustaining the Pope’s global outreach
Despite budget tightening, papal direct charitable operations remained resilient. Public donations for papal charity rose slightly — from €13 million to €13.3 million — financing 239 projects across 66 countries, with nearly half based in Africa.
The papacy also launched a fundraising commission in February 2025, encouraging Vatican offices to seek external support and reduce dependency on centralized funding .
Why it matters to the U.S.
U.S. Catholics account for over 25% of the campaign, underlining the country’s central role in backing the Pope’s mission. Their consistent generosity has enabled the Vatican to significantly reduce its structural losses while maintaining global aid efforts.
The shift toward diversified giving — from diocesan appeals to private donations — could inform fundraising models within U.S. dioceses, blending traditional and modern philanthropy.
By the numbers (2024)
Total donations: €54.3 million (+12%)
U.S. share: €14 million (≈25%)
France: €8 million (15%)
Deficit: €17.4 million, down from €57.4 million in 2023
As the Church navigates financial sustainability, U.S. support remains pivotal — not only for closing deficits, but for enabling the Pope’s commitment to the poor and vulnerable worldwide.
