The Vatican released information about ownership of real estate for the first time on Saturday, it revealed that it had more than 5,000 properties as part of the most detailed financial disclosure ever.
The information was contained in two documents, consolidated financial statements for 2020 for the Holy See and the first public budget for the Holy Throne Patrion Administration (APSA).
APSA, a kind of general accounting office, managing real estate and investment, paying salaries, and acting as a purchasing office and department of human resources.
Between the two documents – each with the number of pie graphics, graphics, and unprecedented maps – and two explanation interviews, the Vatican issued more than 50 pages of financial material.
The 30-page APSA budget shows that it has 4,051 properties in Italy and around 1,120 abroad, excluding embassies throughout the world.
Only about 14% of Italian properties rented with market prices, while others are hired with cutting prices, many people to church employees.
About 40% are institutional buildings such as schools, monasteries and hospitals.
Documentation shows that APSA has property as an investment in the upper class area of London, Geneva, Lausanne and Paris.
‘Turning the Point’ One Building, in South Kensington Regency Smart London, caused a big loss after being bought by the Vatican State Secretariat as an investment in 2014.
On Tuesday, 10 people trial in connection with the purchase, including leading cardinals, began at the Vatican.
They were charged with financial crimes including embezzlement, money laundering, fraud, extortion and abuse of offices.
Father Juan Antonio Guerrero, head of the Vatican Secretariat for the Economy (SPE), told the official Vatican website that the building will soon be sold.
He said the trial would be a “turning point” in the Vatican credibility in economic matters and that similar events cannot be repeated because of the steps that were placed since then.
Last year, Pope Francis disarmed the State Secretariat of control over his fund, transferring it to the APSA and with supervision by SPE.
A separate consolidated financial statement for the Holy published on Saturday showed a deficit of 64.8 million euros in 2020, down from the 79.2 million deficit in 2019.
The Holy Budget included the Central Administration of the Roman Catholic Church, known as Curia, Oversee the 1.3 billion church government of world members, its global diplomatic representation and media operations.
Vatican City, including the Vatican Museum and the Vatican Bank, has a separate budget.
To plugging in the 2020 deficit, around 50 million euros were taken from Pence Peter, donation funds to help the Pope carry out the world work of the Church.
Covid-19 Pandemic Hit Vatican Hard Income in 2020.
Basilica of St.
Peter and the Vatican Museum, the last cow who received around 6 million visitors who paid in 2019, was closed or only partially open to most of 2020.
(reported by Philip Pullella; Editing by Alex Richardson)
The Vatican reveals property ownership for the first time in a transparency drive
