A Note from the Treasurer

December 2022

The John D.V. Salvador’s financial performance during the year 2021/22 was satisfactory, and in line with our budget:

Consolidated donations amounted to USD 129’749 (23’678) in 2021/22. Had it not been for the decline of the British Pound Sterling, we would have met our budget target of USD 150’000. We got most of our donations from a few individuals and institutions. Our Swiss Chapter was the largest donor contributing 11%.

As in previous years, costs were well controlled at USD 1’446 (1’216). The year-on-year fluctuation relates to bank service charges when we finance projects. Our Efficiency Ratio stayed high at 98.89% (99.17%) – we are all volunteers - and is well above our target range of 97%. From every USD donated, 99 cents go to projects.

Transfers amounted last year to USD 95’753 (147’351) and financed the following:

USD 24’060 were spent for buying tools & equipment for the School of Automotive Engineering at Don Bosco TVET in Tondo, Manila.
USD 9’120 were used to buy TV screens for in-class teaching at the Don Bosco Agricultural High School in Legazpi
USD 8’020 financed a project management position at the Centro Salvador, which supports Bless the Children CEO Eunice Cheng Chua in her activities and coordinates all programs in Tondo and Baseco
USD 19’400 were transferred to the orphanage San Martin de Porres in Bulacan for pay for House Parents’ and the Chef’s salaries.
USD 35’153 financed the refurbishment of the Casa Vicente e Soledad in Baseco, Manila.

Since 2006 the John D.V. Salvador Foundation raised USD 3.5 million for children at risk in the Philippines. Over these 15 years, we built the orphanage of San Martin de Porres, the girls’ cottages at Hijas de Esther, the Centro Salvador and the Casa Vicente e Soledad for our outreach programs covering 2’500 kids in Manila’s Baseco and Tondo district and supported Don Bosco TVET, the vocational training centre in Tondo, and Don Bosco’s Agricultural College in Legazpi.

Hugo Banziger, Treasurer