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Vatican Returns to Profit but Donations down Stamford Advocate July 2, 2011 http://www.stamfordadvocate.com/news/article/Vatican-returns-to-profit-but-donations-down-1450163.php The Vatican has returned to profit after three years in the red, but donations from the faithful fell nearly ˆ15 million ($22 million), or 18 percent, during a year in which the priest sex abuse scandal exploded. The Vatican issued its annual financial report Saturday, saying it made a profit of ˆ9.85 million ($14.3 million) in 2010 following a loss of ˆ4.01 million ($5.8 million) a year earlier and losses in 2007 and 2008. The separately administered Vatican city state also turned a ˆ21.04 million ($30.6 million) profit, thanks to booming ticket sales at the Vatican Museums. But donations from churches worldwide, the so-called Peter's Pence, were down $14.8 million at $67.70 million. The Vatican didn't give a reason. But the abuse scandal erupted in 2010 in Europe, traditionally a top source of donations. |
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