A Note from the Treasurer – January 2015
The John D.V. Salvador Foundation (JDVSF) raised USD 88,073.86 during the fiscal year 2014 – 2015. As in the previous year, we again had a few significant donations from several long-time sup-porters of our charity. Some of these donors contributed now every single year.
The cost development was again very satisfactory. Total cost dropped from USD 6,300 last year to USD 3,431, which made it possible to maintain our efficiency ratio at 96.3%, slightly below our target of 97%. In other words, we will be able to spend USD 84,600 on the children this year or 96 cents on every dollar donated. The foundation focused last year on the completion of the Girls’ Village in Bustos. The two cottages for our 35 young girls were inaugurated in May 2015. A multi-purpose dining room and a small school are currently under construction. In 2014 – 2015 we spent USD 134,849. The excess funding was financed from our balance sheet.
Having largely completed the work on the children’s village, San Martin de Porres, the Centro Salvador in the slums of Tondo, and the Hijas de Esther (girls’ village) in Bustos, the year 2014 – 2015 was also a year of reflection. We were invited to participate in projects in the south of the Philippines but eventually decided to keep our focus on the children in Metro Manila. The budget for the fiscal year 2015 – 2016 is set at USD 150,000 which we are confident to reach. Our target efficiency ratio remains unchanged.
—HUGO BANZIGER, Treasurer
The Charity Commission for England & Wales – http://www.charitycommission.gov.uk