Papal Foundation gives $10 million to Pope Francis' charities

Papal Foundation gives $10 million to Pope Francis' charities

(Vatican Radio) The Papal Foundation announced to Pope Francis today it will give $10 million US to support his charitable work around the world. Members of the Foundation enjoyed an audience with the Holy Father in the course of their pilgrimage to Rome which also coincides with the Jubilee Year of Mercy.

“We are called by Christ to share this mercy,” said Pope Francis, “with those who are spiritually and materially in need through the spiritual and corporal works of mercy.” We do this with a spirit of generosity and tenderness that reflects God’s immeasurable goodness, he added.

He thanked the Papal Foundation for having the works of mercy at the heart of its mission and for generously supporting diocesan, parish and community projects around the world.

“Your charity reverberates throughout the world,” Pope Francis said, “offering new initiatives that help to extend the merciful embrace of the Father.”

The Papal Foundation was set up by US clergy and laity in 1988 as a sustainable way to support the Holy Father’s charitable priorities. Income generated from the $215 million fund creates a perpetual source of revenue but the fund does not invest in any companies that engage in activities inconsistent with the Catholic faith.

More than $15 million were distributed in 2015 for housing, hospitals, educational institutions and pro-life programs around the world. Since 1988 more than $121 million have been awarded.

Pope Francis concluded by praying that members of the Papal Foundation experience a new impetus to holiness on their pilgrimage, and above all, the gift of God’s mercy.

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