Pope Leo XIV has officially disbanded a controversial Holy See fundraising commission, a decision marking a significant move to rectify financial missteps made under his predecessor, Pope Francis. The announcement came on Thursday, following concerns surrounding the commission’s formation while Francis was hospitalized with double pneumonia.
In an official decree, Pope Leo XIV suppressed the fundraising commission, abrogated its statutes, and terminated its members. He designated that the commission’s assets would revert to the Holy See, with oversight from the Vatican’s patrimony office during the process of its dissolution. The decree also outlined plans to establish a new working group composed of selected members to develop future fundraising proposals and an appropriate operational structure.
The commission was initially announced on February 26, 2025, during a time when Pope Francis was receiving treatment in a hospital. Critics noted that the commission consisted solely of Italian members, none of whom had professional fundraising experience. Its president was the assessor of the Secretariat of State, the same office that Pope Francis had previously restructured after it lost significant funds in a contentious London property deal.
The concentration of authority within the Secretariat of State and the absence of qualified fundraising professionals raised immediate concerns regarding the commission’s credibility. Observers suggested that the timing of the announcement, made while Pope Francis was incapacitated, appeared to exploit the situation to regain access to unchecked donations following the reassignment of the Vatican’s 600 million euro ($684 million) sovereign wealth fund to another office as a consequence of the London scandal.
Pope Leo XIV’s decision to dissolve the commission seems to be an effort to restore integrity and transparency in the Vatican’s financial dealings. Wealthy American donors, in particular, have been looking to the American pope to enhance financial accountability within the Holy See. Donations remain a vital source of revenue for the Vatican, and Leo’s actions suggest a commitment to addressing the financial concerns raised during Francis’ papacy.
As the year draws to a close, this move signals Pope Leo XIV’s intention to take decisive action to resolve lingering issues from his predecessor’s tenure while preparing to focus on his agenda in the upcoming year. The changes reflect a broader desire for reform within the Holy See, aiming to foster a transparent and accountable financial environment that aligns with the Vatican’s mission.
