Vatican: profits up, donations down

The Holy See reports that it is back in the black.

Details:

The Vatican returned to profit last year after three years in the red but donations from the faithful fell nearly $15 million, or 18 percent, amid tough economic times and the explosion of the priest sex abuse scandal.

The Vatican issued its annual financial report Saturday, saying it made a profit of $14.3 million in 2010 after a loss of $5.8 million a year earlier and losses in 2007 and 2008. Revenues were $356.1 million against expenses of $341.8 million.

Donations from individuals worldwide were down to $67.7 million in 2010, 18 percent less than the year before.

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5 responses to “Vatican: profits up, donations down”

  1. If they are back in the Black but donations are down—some folks with deep pockets who don’t seem to mind the problems the Church continues to have, must be donating to the cause.

  2. I think what they are saying in not that donations were good but that they succeded in lowering costs and/or increasing non-donation income.

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