A Note from the Treasurer – Annual Report 2012
I am pleased to report that the John D.V. Salvador Foundation (JDVSF) again performed strongly during the fiscal year 2011-2012. Revenues of the combined US and UK entities amounted to USD 205,382.43. With a share of about 7 percent of total revenue, our affiliated Swiss Chapter made a significant contribution.
Thanks to the cost reduction announced last year, the foundation was able to return to its previous cost levels and reached an efficiency ratio of 96.04 percent. In other words, 96 cents on every dollar donated were spent on the children. Since its inception in 2005, the JDVSF raised total funds of over USD 1.53m.
The completion of the halfway house for our young adults in Tondo, Manila was at the centre of our activities last year. As a result, contributions to our sister foundation in Manila increased sharply. Drawing on cash balances from previous years, project related expenses increased by more than four times to USD 336,030.94
Our goal for 2012-2013 will be the construction of a small girl’s village with two cottages. The fund raising budget for the fiscal year 2012–2013 will be set at USD 150,000. Our target efficiency ratio will remain unchanged.
—HUGO BANZIGER, Treasurer
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Reference
The Charity Commission for England & Wales – http://www.charitycommission.gov.uk