Knights of Columbus’ Vatican Aid Doubled
The Knights of Columbus have doubled to $20 million their special fund to help Pope John Paul II cope with the Vatican’s rising operating deficit.
The Vatican has projected a potential shortfall of nearly $20 million for the current year, following similar deficits reported for several years.
At its annual convention here, the Roman Catholic fraternal service organization voted Tuesday to add another $10 million to its $10-million “Vicar of Christ” fund established in 1981 to boost papal finances.
Earnings from the endowment, which have been more than $1 million annually and which now are expected to be twice that, are turned over to the Pope to support Vatican activities.
Virgil C. Dechant, supreme knight of the 1.5-million-member organization, which has headquarters in New Haven, Conn., expressed hope that the initiative would prompt others to assist the Vatican funding.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
