Author Topic: WEAK US DOLLAR HITS POPE PROFITS  (Read 2971 times)

Offline Prince

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WEAK US DOLLAR HITS POPE PROFITS
« on: July 13, 2008, 11:14:58 AM »
The Vatican made a loss last year as the weaker dollar reduced the value of donations from the faithful in the United States.

Almost a quarter of the $79.8m (?40.4m) worth of offerings it received came from collections made in US churches.

But as the dollar lost 15% of its value against the euro, the Catholic Church's governing body made a loss of 9.1m euros (?7.3m: $14.3m) in 2007.

That was despite receiving a single anonymous donation of $14.3m.

In a statement it said that it had been affected "primarily to the sudden and noticeable inversion of the previous trends in exchange rates, most noticeably the US dollar".

Its latest accounts show that the Vatican made 236.7m euros in 2007 compared with outgoings of 245.8m euros.

After the US, the largest offerings - which it quotes in dollars - came from Italy, where churchgoers gave $8.6m directly to the Vatican last year and Germany, where the faithful gave $4m.


The Vatican received almost $80m worth of offerings in 2007

Vatican TV

The Vatican also generated revenue from a number of other sources last year, including the 4.3 million visitors to its museums, including the Sistine Chapel.

The Vatican Television Centre, which broadcasts the Pope's regular audiences in St Peter's Square and reports on his visits abroad, made a profit of almost 500,000 euros, while the Vatican Publishing House ended the year with a surplus of 1.6m euros.

But Vatican Radio and the Vatican newspaper together made a loss of 14.6m euros.

The Vatican first revealed its accounts in 1981 under Pope John Paul II to challenge the prevailing idea that it was rich.

CHURCH OFFERINGS TO VATICAN
United States: $18.7m
Italy: $8.6m
Germany $4m
Spain: $2.7m
France: $2.4m
Ireland: $2.2m
Brazil: $1.4m
South Korea: $1.1m

Source: Vatican

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« Last Edit: August 18, 2008, 02:07:10 PM by Prince »

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WEAK US DOLLAR HITS POPE PROFITS
« on: July 13, 2008, 11:14:58 AM »

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Offline furtune

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Re: WEAK US DOLLAR HITS POPE PROFITS
« Reply #1 on: July 13, 2008, 06:34:42 PM »
That is a lot of money....
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Offline olanajim

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Re: WEAK US DOLLAR HITS POPE PROFITS
« Reply #2 on: July 15, 2008, 07:19:47 PM »
Chuch business
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Offline Prince

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Re: WEAK US DOLLAR HITS POPE PROFITS
« Reply #3 on: July 16, 2008, 05:21:50 AM »
Chuch business
Church have always be a business, some countries are now taxing them, looking at there annual income, some big companies never make that kind of money.

Offline olanajim

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Re: WEAK US DOLLAR HITS POPE PROFITS
« Reply #4 on: July 16, 2008, 10:09:57 AM »
Wow! I thought only Nigerian churches are money making machines. Well, Jesus would be awed by these people's achievements.

It is no wonder why religous values are depreciating.
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Offline furtune

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Re: WEAK US DOLLAR HITS POPE PROFITS
« Reply #5 on: July 16, 2008, 05:40:52 PM »
Everyday Meant to say?
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Offline olanajim

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Re: WEAK US DOLLAR HITS POPE PROFITS
« Reply #6 on: July 18, 2008, 10:29:34 AM »
The money to the best of my knowledge are meant for the poor and not the church or clergies.
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Offline chris-jaxxmen

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Re: WEAK US DOLLAR HITS POPE PROFITS
« Reply #7 on: August 02, 2008, 05:48:15 PM »
I dindn't see any African country there.
play low.

Offline furtune

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Re: WEAK US DOLLAR HITS POPE PROFITS
« Reply #8 on: August 05, 2008, 12:57:42 PM »
are you sure?
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Re: WEAK US DOLLAR HITS POPE PROFITS
« Reply #8 on: August 05, 2008, 12:57:42 PM »

 

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