A Note from the Treasurer – January 2019
IN THE FISCAL YEAR 2017 – 2018, The John D.V. Salvador Foundation raised USD 131’010.62. About 90% of the funds were raised in Europe, the remainder was contributed from our US organization. As in the years before, a few long-time supporters contributed most of the funds.
The cost development was satisfactory again. Total expenses amounted to USD 1’735.46 which leads to an efficiency ratio of 98.68% – well within our target of 97%. In simple words, we spend more than 98 cents of every dollar donated on our children.
The foundation focused last year on
- the refurbishment of Don Bosco’s School for Hospitality and Tourism which provides vocational training to High School graduates from poor families,
- the completion of the Hijas School for Girls in San Martin de Porres and
- the support of more social workers and psychologists in the Centro Salvador in Tondo, Manila, and at SMDP in Bustos, Bulacan.
Total project spending thus reached a new record with USD 351’988.90.
The budget for the fiscal year 2018–2019 remains unchanged at USD 150,000.-. Our target efficiency ratio remains unchanged as well.
The Charity Commission for England & Wales – http://www.charitycommission.gov.uk