“The Vatican has an annual operating budget of under $300 million, while Harvard University, arguably the Vatican of elite secular opinion, has a budget of $3.7 billion, meaning it’s ten times greater. The Vatican’s ‘patrimony,’ what other institutions would call an endowment, is around $1 billion. In this case, Harvard’s ahead by a robust factor of thirty, with an endowment of $30.7 billion.”

-John L. Allen, Jr.

Articles by Matthew Schmitz

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