March 21, 2023

The Indie Toaster

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More than 5 thousand assets

The Vatican released public information about its real estate assets for the first time on Saturday, revealing it has more than 5,000 assets, in the most comprehensive disclosure of its finances.

This information was contained in two documents of the Holy See 2020 Consolidated Financial Statement and the first General Budget (ABSA) in the history of managing the Holy See tradition.

Management, a kind of public accounting office, manages real estate and investments, pays salaries and acts as the purchasing office and human resources department.

Between the two documents – each with unprecedented charts and diagrams – and two explanatory interviews, the Vatican has published more than 50 pages of financial material.

The administration’s 30-page budget includes 4,051 properties in Italy and about 1,120 properties abroad, including embassies around the world.

Only about 14% of its Italian assets were leased at market rates. Others are rented at discounted prices, many to church staff. Approximately 40% are institutional buildings such as schools, convents and hospitals.

For example, the documents show that the management has assets such as investment in major areas of London, Geneva, Lausanne and Paris.

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