Sawang Boriboon posts 5 million baht loss for 2012

Friday, 01 February 2013 From Issue Vol. XXI No. 5 By  Warunya Thongrod

The Sawang Boriboon Thammasathan Foundation posted a 5 million baht loss for 2012, with donations falling short of expenditures for charity and medical-rescue activities.

At the foundation’s annual meeting Jan. 23 in Naklua, foundation accountants said the organization collected 55 million baht in donations, but spent 60 million baht for expenses. Sawang Boriboon’s “relief unit” offset that slightly, posting a 500,000 baht profit on 3.2 million baht in income.

(L to R) Prasit Thongthitcharoen, head of the relief unit, Visit Chaowalitnittithum, president of foundation, and Wichian Pongthawornpinyo, vice president of Sawang Boriboon Thammasathan Foundation, head the foundation’s AGM.(L to R) Prasit Thongthitcharoen, head of the relief unit, Visit Chaowalitnittithum, president of foundation, and Wichian Pongthawornpinyo, vice president of Sawang Boriboon Thammasathan Foundation, head the foundation’s AGM.

Despite the loss, the foundation still had 78 million baht cash on hand as of Dec. 31, while its relief unit retrained 900,000 baht cash on hand.

President Visit Chaowalitnittithum told the 50 members attending expenditures went toward numerous projects last year, including staging four “lang pacha” ceremonies - two in Chonburi - where the remains of dead Buddhists without relatives are dug up and cremated in proper funeral ceremonies.

The foundation also built an eight-story building to expand its Sawang Boriboon College, provided security for various events in Pattaya, and sponsored equipment for medics and first-responders.

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