Pope Leo XIV has officially dissolved a controversial fundraising commission established during Pope Francis’ hospitalization. On Thursday, the Pope took decisive action by suppressing the commission, abrogating its statutes, and terminating the appointments of its members. He directed that the commission’s assets would revert to the Holy See, with oversight by the Vatican’s patrimony office as it is disbanded.
This move represents a significant step for Pope Leo XIV as he seeks to rectify the financial approach taken under his predecessor. The commission was initially announced on February 26, 2025, while Pope Francis was hospitalized due to double pneumonia. At that time, top officials from the Secretariat of State were present, raising concerns about the commission’s formation amid the Pope’s health crisis.
The disbanded commission was made up exclusively of Italian members, none of whom had professional fundraising experience. Its president was the assessor of the Secretariat of State, the very office that Pope Francis had previously restricted from managing Vatican assets following a substantial financial loss linked to a London property deal. The return of authority to the Secretariat of State, combined with the absence of qualified fundraisers and representatives from the United States—the Vatican’s largest donor base—prompted skepticism regarding the commission’s legitimacy.
Critics perceived the commission’s establishment as an opportunistic move by the Italian-led Secretariat of State. Some viewed it as an attempt to create a new channel for unregulated donations following the reassignment of a substantial €600 million (approximately $684 million) sovereign wealth fund to another office after the London scandal.
Pope Leo XIV’s decree signifies a commitment to transparency and accountability within the Holy See’s fundraising efforts. Donations play a vital role in the Vatican’s revenue, and wealthy American donors, in particular, have been looking to the new Pope for reforms that promote financial integrity. Leo, known for his background in mathematics, is expected to implement changes that address these concerns.
As the year draws to a close, this decision marks an effort by Leo to finalize the loose ends of Pope Francis’ legacy while preparing for a future focused on his own initiatives. The formation of a new working group, composed of papally approved members, is set to develop effective fundraising proposals and establish a more robust structural framework moving forward.
The Vatican’s restructuring reflects a broader commitment to regain trust and ensure the responsible management of its financial resources. Following the tumultuous events surrounding the previous commission, the Holy See now aims for a fresh start in its fundraising efforts, setting a new course for the future.
According to the Associated Press, this development in the Vatican’s financial governance is supported by funding from Lilly Endowment Inc., which collaborates with the AP. The AP maintains responsibility for the content presented.
