In a decisive move to address financial governance, Pope Leo XIV has formally abolished a special fundraising commission for the Holy See, a body originally announced during his predecessor's hospitalisation.
A Commission Announced Under Questionable Circumstances
The Vatican first revealed the creation of the fundraising commission, its statutes, and its members on 26 February. This announcement came while Pope Francis was in hospital being treated for double pneumonia and receiving visits from senior officials of the Secretariat of State.
The commission's composition immediately raised eyebrows. It was comprised exclusively of Italians with no professional fundraising background. Its president was the assessor of the Secretariat of State, the very office Pope Francis had previously punished for its role in a disastrous London property deal that lost the Vatican tens of millions of euros.
Concentration of Power and Lack of Expertise
The decision to concentrate this new fundraising power back into the Secretariat of State, coupled with the absence of any American members, sparked significant concern. Given that the United States is the single largest donor to the Vatican, the omission was particularly notable.
Critics suggested the move appeared to be an attempt by the Italian-led Secretariat to establish a new stream of unchecked donations. This perception arose after Francis had stripped the office of its 600 million-euro sovereign wealth fund as a direct consequence of the London fiasco.
Leo XIV's Decree: A Clean Slate for Vatican Fundraising
On Thursday 4 December 2025, Pope Leo XIV issued a decree to suppress the commission entirely. He abrogated its statutes and dismissed its members. The decree stipulates that the commission's assets will revert to the Holy See as a whole, with the Vatican's patrimony office overseeing the winding-down process.
Looking forward, the decree states that a new working group will be formed. This body will have members approved by the Pope and will be tasked with developing fresh fundraising proposals and an appropriate structure for the future.
This action is seen as the American Pope's most significant step yet in correcting one of Francis's more problematic financial initiatives. As 2025 draws to a close, Leo XIV is methodically addressing lingering issues from the previous pontificate while preparing to focus on his own agenda in the new year.
The move is widely interpreted as an effort to instil greater financial transparency and accountability. Donations remain a vital revenue source for the Holy See, and wealthy American donors, in particular, have been looking to the Pope, a former mathematics student, to bring clearer governance to the Vatican's finances.
