A Note from the Treasurer

December 2020

The John D.V. Salvador’s financial performance during the fiscal year 2019/20 was In line with previous years and our budget:

Consolidated donations amounted to USD 146’435.99 (159’731.13). We almost reached the annual budget target of USD 150k. Donations were again highly concentrated with 15 people and institutions supporting the foundation. The Swiss Chapter contributed again roughly 20% of our revenue.

As in previous years, costs remained well controlled and dropped to a new record low of USD 1’216.12 (1’470.15). The reduction is mainly due to a decrease in bank service charges. The Efficiency Ratio improved thus to 99.17% (99.08%) and is well above our target range of 97%. Of every USD 1.- donated, less than one cent is spent on admin.

Transfers to projects amounted last year to USD 147’351.55 (256’396.27) and were channelled to the following projects:

USD 97’351.55 transfer to San Martin de Porres for Teacher and Chef Salaries. Due to a mistake USD 35’856.- were not paid in 2019. Another USD 22’837.26 were paid to the Scholarship Program supported by our Swiss Chapter.
USD 15’972.81 were paid to Don Bosco TVET for rebuilding homes in the Happy Land District of the Tondo slum which burnt down during the Covid-19 Lock-down. The JDVSF financed the reconstruction of houses where Don Bosco’s students live.
USD 34’027.19 ware spent on the refurbishment of the classrooms of Don Bosco TVET’s Mechanical and Electrical Engineering Department. New wiring was installed, the broken windows repaired, the ceiling panels replaced and all class rooms were freshly painted.

Over the last 15 years, the John D.V. Salvador Foundation raised USD 3.3 million for the street children in the Philippines and built the orphanage San Martin de Porres, the girls’ village Hijas de Esther, the Centro Salvador for our street program in the slums which covers 2’200 children and supports Don Bosco TVET, the vocational training college for underprivileged teenagers.

Hugo Banziger, Treasurer