I don't know how much of the Vatican finance sheets we have access to, but it would be interesting to get an article explaining how money comes in to the Vatican. What are the revenue streams, and how large are they? Where is there opportunity for growth in those existing incomes? By how much would they need to increase to keep things afloat?
Right now you get to the Sistine chapel through your ticket for the Vatican museums. But I could see something where they split it where you have one price for just the museum themselves, but then there’s an additional price (that’s obviously higher) which would also get you access to the Sistine chapel. It would be a little bit more difficult logistically I think.
ChatGPT query: how does money come in to the Vatican. What are the revenue streams, and how large are they? Where is there opportunity for growth in those existing incomes? By how much would they need to increase to keep things afloat?
Reply:
// The Vatican’s revenue streams are diverse, encompassing both traditional and modern sources. Key income channels include:
1. Donations and Contributions:
• Peter’s Pence: This annual collection from Catholics worldwide supports the pope’s charitable initiatives. In 2023, it amounted to €52 million, an increase from the previous year. 
• Diocesan Contributions: Dioceses, particularly from the United States, Italy, and Germany, contribute significantly. For instance, U.S. dioceses accounted for 29.3% of such donations, totaling €13 million. 
2. Commercial Activities:
• Vatican Museums: Admission fees from the museums are a substantial revenue source. The COVID-19 pandemic severely impacted this income due to prolonged closures. 
• Philatelic and Numismatic Sales: The sale of stamps, coins, and medals, especially limited-edition releases, attracts collectors globally. 
3. Real Estate and Investments:
• Property Rentals: The Vatican owns extensive real estate, generating income through residential and commercial leases. Efforts are underway to adjust rents to market rates to boost revenue. 
• Financial Investments: The Vatican’s investment office reported a profit of €32.27 million in 2022, contributing to the operating budget. 
4. Commercial Enterprises:
• The Vatican operates printing services, produces mosaics, and manufactures staff uniforms, adding to its income. 
Opportunities for Growth:
• Enhancing Museum Revenue: Post-pandemic, increasing visitor numbers and introducing special exhibitions could boost museum income.
• Expanding Merchandise Sales: Developing new collectible items and leveraging online platforms can attract a broader audience.
• Optimizing Real Estate: Implementing market-rate rents and selling underutilized properties could enhance revenue.
• Improving Financial Management: Strengthening investment strategies and ensuring transparency can lead to better returns and donor confidence.
Financial Challenges and Required Increases:
The Vatican has faced budget deficits, with a reported €33 million deficit in 2021.  To achieve financial stability, revenue would need to increase by at least this amount, alongside cost-cutting measures. Recent reforms, including salary reductions and spending limits, aim to address these challenges. 
In summary, while the Vatican has multiple revenue streams, enhancing existing sources and implementing financial reforms are crucial to maintaining fiscal health. //
First of all, I agree with you 100% with regard to golf. I think it’s boring and that it’s a very stuffy, elitist sport. Definitely not for me.
Secondly, the sexual assault charges aside, Russell Brand is a very bizarre choice for Hallow to want to partner with as an advertising partner. Mark Wahlberg and Gwen Stefani make sense, and Patricia Heaton, Jim Caviezel, Jonathan Roumie, and Jim Gaffigan would make sense as well. If they want to branch out to political podcasts or media outlets, The Daily Wire crowd makes a lot more sense to me, especially since Michael Knowles and Matt Walsh are both practicing Catholics themselves and their cohosts Andrew Klavan and Ben Shapiro are both Catholic-friendly as well.
If I were Hallow, instead of partnering with Russell Brand, I would partner with someone in the country music space, as I think many country music listeners are at least nominally Christian and would be open to trying Hallow.
Russell Brand just strikes me as a very odd person for Hallow to partner with.
Worth pointing out that Hallow also formally “sponsored” the election night coverage of Fox News Channel. No matter one’s political persuasion, the prominent celebrity and political alliances (not to mention the ostensibly large amount of money behind them) deserve more transparency and accountability.
Yes, that’s very problematic that they did that. It’s also curious that, to my knowledge, they haven’t partnered with Latino celebrities or celebrities like Jim Gaffigan and Gloria Purvis who could reach people who are not political conservatives.
Gloria Purvis enthusiastically supported the violent, financially mismanaged, and demonstrably corrupt BLM, several of whose leaders have been charged with fraud or have at least had to resign under threat of criminal prosecution. And as poster Andy has pointed out, Jim Gaffigan took his kids to a "Pride" parade. Hallow will deserve to lose support if it partners with people of their ilk.
I'm all for transparency and accountability from Hallow. How about some on Gwen Stefani, who made no bones about her support of Harris. Her leftist bona fides are well-documented. As just one example, The Mirror reported that she "hosted a fundraiser with Michelle Obama at her house, the only president for whom she & Blake [Shelton] have performed is Obama, she's written several left-leaning songs with No Doubt, she has performed at fundraisers for Planned Parenthood & pro-LGBTQ+ organizations."
Hallow made that quite clear by advertising during the coverage, so your point is tautological. No problem whatsoever with transparency or accountability.
I remember when Hallow got Liam Neesom to do a voice over and there was a bunch of fuss over it. Why? Because Neesom also did a voice over in Ireland to promote an abortion law. So, hearing that they've also signed on Russell Brand is not really a shock, neither is their "wait and see" policy. At this point, I wouldn't be surprised if they got Gene Simmons to pray the Chaplet of St. Michael.
The way to solve the financial crisis is to avoid further scandals. For example, the U.S. Catholic school system should give up trying to provide general education and use the resources for Confraternity of Christian Doctrine.
The only question I want to ask Farrell is why he continues to deny that, despite being McCarrick's roommate, buddy, and beneficiary for years on end, he knew nothing whatsoever about McCarrick's chronic criminal predations and the coverups thereof. What a heartsickening appointment by the heartsickening pope who elevated him to the cardinalate.
1. “University of Notre Dame” not “Notre Dame University,” please.
2. I absolutely agree on the difference in sharing the story of St Cecelia. I’m willing to bet that anyone during that time threatened with angelic retribution would take it seriously. Tone matters, both in the original story and its retelling.
Well, for once, Ed said something with which I most vehemently disagree (though with absolutely no level of seriousness, but only a joyful riposte). Golf, while indeed being good walk spoiled, is not stupid. It's the only game in which honor and honesty are the only moral 'referees' in play. Tournament officials are only there if you call upon them; they cannot issue rulings unless actual players self-report or report playing partners for malfeasance. It is the only individual sport that demands communal responsibility. It unifies technology with natural features in an effort to highlight the simple inability of the player to permanently overcome those natural features every time he or she is confronted by them. It takes time and forces you to contemplate on, primarily, everything else but how terrible your last shot was. I could go on, and I know there's no way to convert Ed on this one. Alas, philistinism has run amok, amok I say, on these venerable webpages.
I won't even TRY to say anything about pro wrestling, except that Coventry Cathedral would seem it's most fitting venue, if we're shoving it into Anglican worship spaces.
Walking 5+ miles on a beautiful day, enjoying the landscape … even if you’re a lousy golfer, it’s great to be able to say Thank You Lord for sharing your Beauty with me.
As Mr. Stelten says below, golf is a great way to be outside on a beautiful day. Golf will teach humility to anyone who plays it. Pray for Ed that he may see the light.
"probably seriously unedifying — consideration of external partnerships and sponsorships"
It seems to me that Hallow App has sort of gone down this road with Liam Neeson, Russell Brand etc., but the app has blown up (in a good way). Maybe the Vatican can get Gwen Stefani (who of course is edifying) to head up a We Are the World (or "We Are Church" as some would prefer) kind of fundraiser. A mix of edifying and unedifying celebrities can contribute: Lady Gaga, Jonathan Roumie, Marky Mark, Arnie, Foo Fighters (who have a song called St. Cecilia) etc.
I listened to 'St. Cecilia' this morning! I'm not convinced it has much of anything to do with the saint herself, but I'm fond of the song.
In general, if we're going for interesting musical collaborations, 'Dies Irae' is a pretty metal song, all things considered. Perhaps Black Sabbath could be dragged out of retirement for a cover?
The Vatican is not alone in its financial problems. The U.S. is also kicking the can down the road through the gradual part of bankruptcy and will someday hit the sudden part.
Great role model. Sadly, institutional Catholicism seems headed in the wrong direction in a great many endeavors these days. I wonder how long the Orthodox church can hold out. Forever, I hope.
"So what can be done? I think the Holy See needs to commit, like yesterday, to some serious crisis fundraising, and get creative about how it does so."
First of all, to raise money you have to ask. And our arrogant and incompetent clergy from the parish to the Vatican simply do not speak to the laity about money. They will not put themselves in a position of having to ask the laity for something, risk being asked questions or to explain and detail the reasons of the need it and provide some guarantees it will be spent for the stated purpose.
Today, if I expressed just a passing interest in most any non-Catholic charity, I would be taken to lunch, presented with detailed financial reports and hear on and on about the mission of the charity, its structure and its internal controls and engaged and have any questions answered. And for the charities I am on the Board of, the roles would be reversed, and I would be buying lunch and answering questions and spending time in conversation. And I would do it regardless if it was a potential major donor or someone highly unlikely to be able to make a contribution, because I enjoy talking about my charity and our work and even to non-donors believe we should be transparent and accountable.
At best, our clergy will pass around a collection basket that entails no conversation with the laity.
First: Your comment about golf will tee people off, possibly make someone want to club you. Ok, so puns are par for the course.
About the money:
American members of the Catholic Chosen People will probably find it difficult to want to pay more money to the Vatican given the anti-American attitudes and comments from Pp Francis.
And we are the most generous givers in history. I know priests who have been very frank with their parishioners about financial straits their parishes are in, and have asked for advice, help and contributions. It has worked. This is not Francis’ m.o.
It seems that, like Biden, he will leave his successor a mess.
And, maddeningly, he'll do it by design. I'm hoping to read a deeply researched and totally frank book on how in God's name this fellow got himself elected Pope. But I'm afraid if such a book ever is written, it may cost the Church a great many believers.
I don't know how much of the Vatican finance sheets we have access to, but it would be interesting to get an article explaining how money comes in to the Vatican. What are the revenue streams, and how large are they? Where is there opportunity for growth in those existing incomes? By how much would they need to increase to keep things afloat?
I think they should charge a massive amount to see the Sistine chapel. If you can pay$1000 for a flight to Rome, you can pay $50 to go in the chapel.
Right now you get to the Sistine chapel through your ticket for the Vatican museums. But I could see something where they split it where you have one price for just the museum themselves, but then there’s an additional price (that’s obviously higher) which would also get you access to the Sistine chapel. It would be a little bit more difficult logistically I think.
ChatGPT query: how does money come in to the Vatican. What are the revenue streams, and how large are they? Where is there opportunity for growth in those existing incomes? By how much would they need to increase to keep things afloat?
Reply:
// The Vatican’s revenue streams are diverse, encompassing both traditional and modern sources. Key income channels include:
1. Donations and Contributions:
• Peter’s Pence: This annual collection from Catholics worldwide supports the pope’s charitable initiatives. In 2023, it amounted to €52 million, an increase from the previous year. 
• Diocesan Contributions: Dioceses, particularly from the United States, Italy, and Germany, contribute significantly. For instance, U.S. dioceses accounted for 29.3% of such donations, totaling €13 million. 
2. Commercial Activities:
• Vatican Museums: Admission fees from the museums are a substantial revenue source. The COVID-19 pandemic severely impacted this income due to prolonged closures. 
• Philatelic and Numismatic Sales: The sale of stamps, coins, and medals, especially limited-edition releases, attracts collectors globally. 
3. Real Estate and Investments:
• Property Rentals: The Vatican owns extensive real estate, generating income through residential and commercial leases. Efforts are underway to adjust rents to market rates to boost revenue. 
• Financial Investments: The Vatican’s investment office reported a profit of €32.27 million in 2022, contributing to the operating budget. 
4. Commercial Enterprises:
• The Vatican operates printing services, produces mosaics, and manufactures staff uniforms, adding to its income. 
Opportunities for Growth:
• Enhancing Museum Revenue: Post-pandemic, increasing visitor numbers and introducing special exhibitions could boost museum income.
• Expanding Merchandise Sales: Developing new collectible items and leveraging online platforms can attract a broader audience.
• Optimizing Real Estate: Implementing market-rate rents and selling underutilized properties could enhance revenue.
• Improving Financial Management: Strengthening investment strategies and ensuring transparency can lead to better returns and donor confidence.
Financial Challenges and Required Increases:
The Vatican has faced budget deficits, with a reported €33 million deficit in 2021.  To achieve financial stability, revenue would need to increase by at least this amount, alongside cost-cutting measures. Recent reforms, including salary reductions and spending limits, aim to address these challenges. 
In summary, while the Vatican has multiple revenue streams, enhancing existing sources and implementing financial reforms are crucial to maintaining fiscal health. //
Hi Ed,
First of all, I agree with you 100% with regard to golf. I think it’s boring and that it’s a very stuffy, elitist sport. Definitely not for me.
Secondly, the sexual assault charges aside, Russell Brand is a very bizarre choice for Hallow to want to partner with as an advertising partner. Mark Wahlberg and Gwen Stefani make sense, and Patricia Heaton, Jim Caviezel, Jonathan Roumie, and Jim Gaffigan would make sense as well. If they want to branch out to political podcasts or media outlets, The Daily Wire crowd makes a lot more sense to me, especially since Michael Knowles and Matt Walsh are both practicing Catholics themselves and their cohosts Andrew Klavan and Ben Shapiro are both Catholic-friendly as well.
If I were Hallow, instead of partnering with Russell Brand, I would partner with someone in the country music space, as I think many country music listeners are at least nominally Christian and would be open to trying Hallow.
Russell Brand just strikes me as a very odd person for Hallow to partner with.
Jim Gaffigan is a big "no" for me. He took his children to a Pride parade, for crying out loud.
It's sad, Andy, that so many Catholics need to be reminded of that. Thanks for noting it.
When both the kayfabe and what's behind the kayfabe is the kerygma, in some form. Honestly, I'm surprised to say that I'm here for it.
Ideally not in a sacred space. But in one of those linoleum-tiled parish halls with a disco ball? Now *that's* a mood, and I want tickets.
I know of a church hall that is now rented out as a fencing school.
Worth pointing out that Hallow also formally “sponsored” the election night coverage of Fox News Channel. No matter one’s political persuasion, the prominent celebrity and political alliances (not to mention the ostensibly large amount of money behind them) deserve more transparency and accountability.
Yes, that’s very problematic that they did that. It’s also curious that, to my knowledge, they haven’t partnered with Latino celebrities or celebrities like Jim Gaffigan and Gloria Purvis who could reach people who are not political conservatives.
Gloria Purvis enthusiastically supported the violent, financially mismanaged, and demonstrably corrupt BLM, several of whose leaders have been charged with fraud or have at least had to resign under threat of criminal prosecution. And as poster Andy has pointed out, Jim Gaffigan took his kids to a "Pride" parade. Hallow will deserve to lose support if it partners with people of their ilk.
I'm all for transparency and accountability from Hallow. How about some on Gwen Stefani, who made no bones about her support of Harris. Her leftist bona fides are well-documented. As just one example, The Mirror reported that she "hosted a fundraiser with Michelle Obama at her house, the only president for whom she & Blake [Shelton] have performed is Obama, she's written several left-leaning songs with No Doubt, she has performed at fundraisers for Planned Parenthood & pro-LGBTQ+ organizations."
Hallow made that quite clear by advertising during the coverage, so your point is tautological. No problem whatsoever with transparency or accountability.
I remember when Hallow got Liam Neesom to do a voice over and there was a bunch of fuss over it. Why? Because Neesom also did a voice over in Ireland to promote an abortion law. So, hearing that they've also signed on Russell Brand is not really a shock, neither is their "wait and see" policy. At this point, I wouldn't be surprised if they got Gene Simmons to pray the Chaplet of St. Michael.
The way to solve the financial crisis is to avoid further scandals. For example, the U.S. Catholic school system should give up trying to provide general education and use the resources for Confraternity of Christian Doctrine.
I am very pleased to finally discover something on which I see completely eye-to-eye with Ed: Gwen Stefani. No matter who calls.
I would love a pious horror movie based off this interpretation of St Cecilia.
Is there any way to see the actuarial reports for the pension fund?
You’ll have to ask Card. Farrell VERY nicely…
😉
The only question I want to ask Farrell is why he continues to deny that, despite being McCarrick's roommate, buddy, and beneficiary for years on end, he knew nothing whatsoever about McCarrick's chronic criminal predations and the coverups thereof. What a heartsickening appointment by the heartsickening pope who elevated him to the cardinalate.
Two things:
1. “University of Notre Dame” not “Notre Dame University,” please.
2. I absolutely agree on the difference in sharing the story of St Cecelia. I’m willing to bet that anyone during that time threatened with angelic retribution would take it seriously. Tone matters, both in the original story and its retelling.
On "1." I agree.
Only the 20th-century sitcom "Green Acres" gets away with saying “Notre Dame University.”
It adds to the show's quaint, country charm.
And you also think that “Dear Prudence” is a bad song.
https://youtu.be/JpiDoJ7vio8?si=Sr_r93W0ipoWNBfX
Well, for once, Ed said something with which I most vehemently disagree (though with absolutely no level of seriousness, but only a joyful riposte). Golf, while indeed being good walk spoiled, is not stupid. It's the only game in which honor and honesty are the only moral 'referees' in play. Tournament officials are only there if you call upon them; they cannot issue rulings unless actual players self-report or report playing partners for malfeasance. It is the only individual sport that demands communal responsibility. It unifies technology with natural features in an effort to highlight the simple inability of the player to permanently overcome those natural features every time he or she is confronted by them. It takes time and forces you to contemplate on, primarily, everything else but how terrible your last shot was. I could go on, and I know there's no way to convert Ed on this one. Alas, philistinism has run amok, amok I say, on these venerable webpages.
I won't even TRY to say anything about pro wrestling, except that Coventry Cathedral would seem it's most fitting venue, if we're shoving it into Anglican worship spaces.
Walking 5+ miles on a beautiful day, enjoying the landscape … even if you’re a lousy golfer, it’s great to be able to say Thank You Lord for sharing your Beauty with me.
I agree, the one time I went golfing the best part was the beauty of the landscape.
That said, coming from the Rocky Mountains, I have to say there are better ways to walk 5+ miles in the beauty of nature than golf.
As Mr. Stelten says below, golf is a great way to be outside on a beautiful day. Golf will teach humility to anyone who plays it. Pray for Ed that he may see the light.
"probably seriously unedifying — consideration of external partnerships and sponsorships"
It seems to me that Hallow App has sort of gone down this road with Liam Neeson, Russell Brand etc., but the app has blown up (in a good way). Maybe the Vatican can get Gwen Stefani (who of course is edifying) to head up a We Are the World (or "We Are Church" as some would prefer) kind of fundraiser. A mix of edifying and unedifying celebrities can contribute: Lady Gaga, Jonathan Roumie, Marky Mark, Arnie, Foo Fighters (who have a song called St. Cecilia) etc.
I listened to 'St. Cecilia' this morning! I'm not convinced it has much of anything to do with the saint herself, but I'm fond of the song.
In general, if we're going for interesting musical collaborations, 'Dies Irae' is a pretty metal song, all things considered. Perhaps Black Sabbath could be dragged out of retirement for a cover?
The Vatican is not alone in its financial problems. The U.S. is also kicking the can down the road through the gradual part of bankruptcy and will someday hit the sudden part.
Great role model. Sadly, institutional Catholicism seems headed in the wrong direction in a great many endeavors these days. I wonder how long the Orthodox church can hold out. Forever, I hope.
"So what can be done? I think the Holy See needs to commit, like yesterday, to some serious crisis fundraising, and get creative about how it does so."
First of all, to raise money you have to ask. And our arrogant and incompetent clergy from the parish to the Vatican simply do not speak to the laity about money. They will not put themselves in a position of having to ask the laity for something, risk being asked questions or to explain and detail the reasons of the need it and provide some guarantees it will be spent for the stated purpose.
Today, if I expressed just a passing interest in most any non-Catholic charity, I would be taken to lunch, presented with detailed financial reports and hear on and on about the mission of the charity, its structure and its internal controls and engaged and have any questions answered. And for the charities I am on the Board of, the roles would be reversed, and I would be buying lunch and answering questions and spending time in conversation. And I would do it regardless if it was a potential major donor or someone highly unlikely to be able to make a contribution, because I enjoy talking about my charity and our work and even to non-donors believe we should be transparent and accountable.
At best, our clergy will pass around a collection basket that entails no conversation with the laity.
First: Your comment about golf will tee people off, possibly make someone want to club you. Ok, so puns are par for the course.
About the money:
American members of the Catholic Chosen People will probably find it difficult to want to pay more money to the Vatican given the anti-American attitudes and comments from Pp Francis.
And we are the most generous givers in history. I know priests who have been very frank with their parishioners about financial straits their parishes are in, and have asked for advice, help and contributions. It has worked. This is not Francis’ m.o.
It seems that, like Biden, he will leave his successor a mess.
And, maddeningly, he'll do it by design. I'm hoping to read a deeply researched and totally frank book on how in God's name this fellow got himself elected Pope. But I'm afraid if such a book ever is written, it may cost the Church a great many believers.