A Note from the Treasurer
IN THE FISCAL YEAR 2018 – 2019, The John D.V. Salvador Foundation raised USD 159’731.73. We raised most of the funds again in Europe. The contribution from the USA remained at 11%. A few long-term supporters funded most of our activities. For the first time in our history, the Swiss Chapter of our movement contributed with 27.4% more than a fifth of our revenues.
Our cost development was satisfactory. Total expenses amounted to USD 1’470.15. Lower again than in the previous years thanks to the pro bono work of all board members and KPMG, our accountant. Our efficiency ratio thus increased from 98.68% to 99.08% - well above our target of 97%. Of every US Dollar received, 99 cents thus reach our children and teenagers.
The John D.V. Salvador Foundation focused last year on:
- The completion of the refurbishment of the School for Tourism & Hospitality at Don Bosco in Tondo (Greater Manila). Most of the funds were used to build a state of the art kitchen.
- The replacement of the Asbestos Roofs at Don Bosco. This allows us to modernise the facilities used for mechanical and electrical engineering and creates space to accommodate the parents meeting of the Centro Salvador (we thus do not have to enlarge our own building)
Total project spending amounted to USD 256’396.27, which was 27% lower than last year’s peak (USD 351’988.90).
The budget for the fiscal year 2019–2020 remains unchanged at USD 150,000.-. Our target efficiency ratio remains unchanged as well.
Hugo Banziger, Treasurer
The Charity Commission for England & Wales
Please refer to the
John D.V. Salvador Foundation charity overview