The campaign launched with a video that premiered during Pope Leo XIV's weekly audience in St. Peter’s Square. The video, presented on large outdoor screens, also began circulating online through Vatican news platforms and social media networks.

Fundraising Message Highlights Pope’s Mission

The professionally produced video opens with scenes from Pope Leo’s election on May 8, including the symbolic white smoke rising from the Sistine Chapel. It transitions into his first public words as pope: “Peace be with you all.”

This footage serves as a backdrop to the Vatican’s appeal for financial donations to Peter’s Pence, a charitable fund traditionally used to support the global missions and humanitarian work of the Catholic Church.

A key message from the video reads: “With your donation to Peter’s Pence, you offer tangible support as the Holy Father takes his first steps as Pope. Help him proclaim the Gospel to the world and extend a hand to our brothers and sisters in need.”

Peter’s Pence Faces Widening Imbalance

Church officials hope the video will draw greater support to Peter’s Pence, which saw a significant shortfall last year. According to Vatican data, the fund received 48.4 million euros ($55.66 million) in donations in 2023.

Despite these contributions, expenditures from the fund totaled 103 million euros, more than doubling the income. This growing gap underscores the financial strain facing the Holy See’s operations and charity work.

The United States accounted for just over 28 percent of last year’s Peter’s Pence contributions, making it the largest single donor to the fund.

Pension Deficit and Budget Pressures Mount

Beyond Peter’s Pence, the Vatican continues to face significant financial pressures across its wider operations. Its most recently approved financial statements, finalized in mid-2024, revealed an overall deficit of 83 million euros (approximately $94 million).

The Church's pension system has also come under scrutiny. In 2022, the Vatican's pension fund reported a shortfall of 631 million euros, raising concerns about long-term sustainability for retired Vatican employees.

No official updates have been issued regarding the pension situation since 2022. However, sources familiar with Church finances believe the gap has widened further due to continued fiscal stress.

Pope Leo Appeals During Public Audience

The rollout of the fundraising campaign coincided with the Pope’s June 18 general audience, where he appeared before the crowd in St. Peter’s Square. Pope Leo XIV greeted thousands of faithful with waves and blessings, marking one of his first high-profile engagements since taking office.

The video’s release during this event suggests a strategic effort to maximize exposure and capitalize on the growing public interest in the new pope’s leadership.

Though he did not speak directly about the financial issues during the gathering, the visual tie-in emphasized the importance of the Church’s fundraising initiative during a period of uncertainty.

Holy See Looks to Future Support

Peter’s Pence has long served as a symbol of unity between the laity and the papacy, but this year’s shortfall has highlighted the urgent need for greater participation. By connecting donations with the energy of a newly elected leader, the Vatican is hoping to spark renewed generosity among global Catholics.

The promotional materials emphasize the role of donors in enabling the Pope to “proclaim the Gospel to the world” and provide charitable aid. Officials hope these emotional and spiritual appeals will increase contributions, especially in higher-income countries.

The Vatican has not yet specified whether additional fundraising initiatives will follow, although insiders suggest Pope Leo is expected to make transparency and fiscal reform a priority during his tenure.