As little as 10% of donations by Roman Catholics that are specifically advertised as helping the poor and suffering actually go toward charitable work, The Wall Street Journal reported.
, citing sources familiar with the spending.
A spokesman for the Vatican's mission to the United Nations did not immediately respond to a request for comment from CNBC about the Journal's report. The article noted that under church law, a pope can use Peter's Pence in any manner that serves his ministry.
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WSJ News Exclusive | Vatican Uses Donations for the Poor to Plug Its Budget DeficitEvery year, Catholics around the world donate tens of millions of dollars to the pope’s main charitable appeal, called Peter’s Pence. Most of that collection goes toward plugging the hole in the Vatican’s own administrative budget, according to people familiar with the funds.
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