Knights of Columbus’ Vatican Aid Doubled
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VANCOUVER, Canada — 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.
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