
Leo XIV papacy could mean increased charitable giving, Papal Foundation president says
Pope Leo XIV smiles as a jubilant crowd joins in prayer on Sunday, May 11, 2025. / Credit: Daniel Ibáñez/CNA
Washington, D.C. Newsroom, May 12, 2025 / 16:36 pm (CNA).
As the world celebrates the election of the first pope born in the United States, the president of the only U.S.-based charitable organization dedicated to carrying out the Holy Father’s humanitarian aid projects speculates that Leo XIV’s papacy could increase charitable giving within the Church.
“I do think that because Pope Leo is American, he will have a special rapport with Americans that it should lead to increased donation for his causes of the poor and the vulnerable and the marginalized,” said Ward Fitzgerald, the Papal Foundation’s board president.
Funded by donations from its “Stewards of St. Peter,” the Papal Foundation supports humanitarian aid projects designated by the pope and the continuing education of priests and religious. “Ninety to 95% of these benefactors are American,” according to Fitzgerald, who emphasized that none of their contributions go to the Vatican or the Holy See.
Part of the reason Fitzgerald believes the new pontiff’s election could positively influence donations not only to the foundation but also to the Vatican is that the new Holy Father is a native English speaker.
“Too often ... the pope feels a bit foreign to Americans,” he said. “We are not owed as a society having [a pope] that speaks our language, just like no other countries are owed that. But it can be helpful in catalyzing the faith and catalyzing the Holy See’s causes when communication can be better.”
“I think it’s particularly important in an era, unfortunately, where people use video and phone constantly,” he added.
Ultimately, he said, “I think communication through the verbal word as opposed to the written word is going to help Americans embrace the causes of the pope, which include the poor and the marginalized and the vulnerable.”
Fitzgerald, who has met Cardinal Robert Prevost — now Pope Leo XIV — described the new pontiff as politically neither right nor left but as a “compassionate conservative or conservative compassionate.”
He stated that the pontiff’s philosophy rests on three pillars: an appreciation for the harmony of faith and reason, shaped by his study of Aquinas; a commitment to leading people to Christ, rooted in his Augustinian influences; and a deep concern for the poor and marginalized, reflected in his service in Peru.
Apart from serving as the foundation’s board president, Fitzgerald is the CEO and founder of ExCorde Capital, a private equity firm that specializes in real estate debt and equity markets. One thing he said he hoped to see under Pope Leo XIV’s pontificate is more transparency in Vatican finances and better stewardship of its real estate.
“I think that the universal Church would be more charitable to the Vatican if it understood its finances,” he said, noting the general impression many people have is that of waste and lack of oversight.
“I’m not saying it’s true or false because I have no idea,” he said. “But I think the impression is that if they can communicate clearly where the capital is going … I believe the world would support it.”
“Again, because this pope is from America, and America happens to be a more affluent country than many countries, America will probably provide more than its fair share towards those goals,” he added.
In terms of Vatican real estate, Fitzgerald said that while sometimes Church property can be a true asset, other times it can be a “crutch and a burden.”
“Now is the time to shed the burden of trying to maintain real estate that is not impactful towards the mission of the truth of the Church and for Jesus Christ,” he said.