A Note from the Treasurer

January 2025, Fiscal Year 2023-2024

The John D.V. Salvador’s financial performance during fiscal year 2023/2024 was again satisfactory and on similar levels as previously.

Consolidated donations amounted to USD 105’977 (USD 108’049). With a few large donors and many small donations, we made our budget as planned. Our Swiss Chapter was again our largest donor, contributing 25% percent to total funding.

Cost were as well controlled as in previous years. Legal fees however continued to be high due the confustion created by changes in corporate filing rules in Delaware. These costs are mind-blowing given that nothing really changed. Due to this reporting change, our Efficiency ratio only slightly recovered from 97.14% to 97.34%. We are still above our target of 97% but have to find savings with less expensive electronic filing.

Transfers again increased significantly this year due to our project to upgrade Don Bosco TVET’s power grid from one-phase to three-phase. We spent USD 155’734 (USD 139’896.26) in 2023/2024.

Since 2006, the John D.V. Salvador Foundation raised USD 3.7 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 form the foundation of 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 (140 students).

Hugo Banziger, Treasurer