There's only one query.
and when I execute it via phpmyAdmin's query tab, it shows
SQL query: SELECT O.org_id, O.org_name, O.short_name, O.website, O.email, O.logo_path, date_format( O.reg_date, '%d-%b-%Y' ) formatted_date, O.user_count, O.org_status
FROM organisation AS O
WHERE O.org_status != 'D'
ORDER BY O.org_name
which is fine.
Showing rows 0 - 351 (352 total, Query took 0.0056 sec)
So, the delay might be caused by the DOM to create all those options in the list. Hope I don't have to worry about the server overheads.
PS: fyi: I'm using the jquery plugin chosen, to display the dropdown, which is awesome!