Religious congregations are facing the greatest financial challenge in recent decades: they are responsible for historic buildings that require costly maintenance.
And that’s not all: the members of these institutions are increasingly elderly, and their pensions do not cover the necessary expenses.
In addition, those responsible for economic management often have little experience. This is why some prefer to turn to external companies as Caixabank to help them develop a short-, medium-, and long-term strategic financial plan.
DAVID ALONSO DE LINAJE
Head of Religious Institutions, Caixabank Wealth Management
If you want to address the future—because we don’t know, in 10 or 15 years, if there will be enough vocations from other regions like Latin America, Africa, or Southeast Asia—but if there aren’t, the congregation may eventually disappear. But the important thing, at least, is that with the assets they have, the sisters, brothers, and priests can live with dignity and have basic human conditions.
They need consulting, and They need consulting that is specialized in religious institutions, that knows well their particular cases, their problems, and how to guide and help them focus on all of that.
In addition, the management of historic assets is a concern for the Holy See. In 2022, religious congregations were already warned that some assets could be sold, provided they consult first with the competent Vatican department.
MONS. JOSÉ RODRÍGUEZ CARBALLO
Former Secretary, Congregation for Institutes of Consecrated Life
In the case of religious congregations, the one who gives permission to sell goods is us, the Congregation for Institutes of Consecrated Life. And we have a serious problem, I must say, because many times we find out that a significant patrimony has disappeared, and there is nothing we can do.
This problem mainly affects the old continent, in traditionally Catholic countries such as Spain, France, or Italy, where resources to support both the religious members and the patrimony are increasingly limited.
Trans. CRT
