The mission of the Papal Foundation is to serve the Holy Father and the Roman Catholic Church.
The Foundation fulfills its mission by gathering in a corporal and cooperative collaboration of laity, clergy and hierarchy within the Church, in witness to one another of the Catholic faith, and drawing strength from the witness of the Holy Father.
The Foundation commits itself to serve those needs of the Church that are of particular significance to the Holy Father, always with a commitment to walk in union with the Holy Father and the Magisterium of the Church.
Donors can be individuals, foundations or fraternal groups.
Membership starts with the pledge to give $1 million over the course of no more than ten years with a minimum donation of $100,000 per year.
Those who choose to make this commitment become Stewards of Saint Peter and join a growing network of dedicated American Catholics in service to the Successor of Peter.
Donations have resulted in a fund that has grown to over $215 million with a total of $121 million awarded in grants and scholarships.
The Foundation is governed by a board of trustees comprised of the eight Cardinals residing in the United States, who serve as ex officio members. They approve the seven Bishops and Archbishops and nine laypeople who serve as elected members.
Recently, there arose a controversy over a request from Pope Francis for a $25 million grant from to a Rome hospital.
The incident prompted the Foundation to say some claims about the request are inaccurate, but that it will review its mission and take corrective measures where necessary.
In 2017, Pope Francis asked Cardinal Donald Wuerl for a $25 million grant through the Foundation for the Church-owned hospital Istituto Dermopatico dell’Immacolata, which specializes in researching and treating skin diseases. But then, the Holy See declined half the grant after objections from some board members.
Critics went to the media, questioning the integrity of the hospital and the wisdom of the foundation’s grant-making process.
None of the lay members of the Foundation board lay members voted in favor of the grant.
Opponents of the grant said due diligence was not followed, citing reports that the hospital leadership had been accused of embezzlement, fraud and bankruptcy. In 2013, a Priest who was its Chief Executive Officer through 2011 was arrested for allegedly taking money from the hospital and running up a massive debt.
Tens of millions of euros had allegedly been diverted from the hospital, while it allegedly evaded taxes on hundreds of millions euros. Financial police said its debt was 845 million euros, the U.K. newspaper The Guardian reported in 2013.
The foundation said it is re-evaluating its mission, its approach to grant-making, and its relationship with the Holy See.
The Holy See has expressed “full support” for the review of the foundation and is working to assist the review process.
In the meantime, Pope Francis has cancelled the annual meeting of the Papal Foundation, which includes an audience with the Pope in Rome.
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