A Note from the Treasurer

January 2024

The John D.V. Salvador’s financial performance during the year 2022/2023 was satisfactory.

Consolidated donations amounted to USD 108049.40. We missed our budget by 28% due to a delay of one the larger donations to November. Even with this delay, we slightly exceeded our budget for 2022/2023. Our Swiss Chapter was again the largest donor, contributing 27% percent to total funding.

Cost were well controlled as in previous years. Legal fees however increased sharply since the IRS lost our tax documents. Due to this single factor, our Efficiency ratio dropped from 98.89%% to 97.14%. We are still above our target of 97% but have to find a better way of doing our US taxes.

Transfers increased significantly this year due to the completion of the Kitchen Project in Don Bosco TVET. We spent a total of USD 139’896.26 in 2022/2023 compared to USD 95’753 the previous year.

Since 2006, the John D.V. Salvador Foundation raised USD 3.6 million. We built with these funds the orphanage in San Martin de Porres, the Centro Salvador in Tondo, the Casa Soledad & Vicente in Baseco. The latter two are the base for our outreach program which now covers 2’700 young students. We also support Don Bosco TVET in Tondo where we refurbished and modernized the School for Hospitality and Tourism (200 students) and Don Bosco’s Agricultural College in Legazpi (100 students).

Hugo Banziger, Treasurer

Reference

The Charity Commission for England & Wales
www.charitycommission.gov.uk

Please refer to the
John D.V. Salvador Foundation charity overview

Key Financial Documents