Pope Leo XIV has officially dissolved a controversial Holy See fundraising commission that was established under dubious circumstances during Pope Francis’ hospitalization. On Thursday, the Pope enacted a decree that abrogated the commission’s statutes, terminated its members, and designated its assets to be managed by the Holy See. The Vatican’s patrimony office will oversee the commission’s closure, and a new working group will be formed to develop future fundraising proposals with papal approval.
This decisive action marks one of the most significant moves by Pope Leo XIV as he seeks to rectify financial missteps made during Pope Francis’ tenure. The dissolution of the commission, which had been announced on February 26, 2025, coincided with Francis’ battle against double pneumonia. At that time, key officials from the Secretariat of State were visiting the ailing Pope, raising questions about the legitimacy of the commission’s formation.
The commission was notably composed exclusively of Italian members lacking professional fundraising experience. Its leadership was held by the assessor of the Secretariat of State, which had previously faced scrutiny after losing substantial funds in a high-profile London property deal. Concerns were raised about the concentration of power within the Secretariat of State and the absence of American representatives on the board, despite the United States being the largest donor to the Vatican.
Critics perceived the commission’s establishment as an opportunistic move by the Italian-led Secretariat of State, leveraging Francis’ vulnerability to secure a new stream of unrestricted donations. This followed the Pope’s earlier decision to transfer the Vatican’s €600 million ($684 million) sovereign wealth fund to a different office in response to the London scandal.
By dissolving the commission, Pope Leo XIV aims to restore credibility and transparency to the Holy See’s financial operations. As wealthy American donors look to the new Pope for enhanced financial accountability, this move signals a commitment to addressing the concerns that have long plagued the Vatican’s fundraising efforts.
Donations remain a vital source of revenue for the Holy See, and the formation of a new working group is expected to pave the way for a more structured and transparent approach to fundraising. The Pope’s actions illustrate a broader intention to not only address past mismanagement but also to set the groundwork for a more effective financial strategy moving forward.
As 2025 approaches, the first American Pope is taking significant steps to ensure a smooth transition into his own agenda while fulfilling the obligations of Pope Francis’ Holy Year. The Vatican’s financial landscape may be poised for transformation under Leo XIV’s leadership, as he navigates the complexities of maintaining trust and accountability within the institution.
