St s annual general meeting (pdf)

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St s annual general meeting (pdf)

  1. 1. Annual  General  Mee+ng    President’s  Room,  Manila  Polo   Club    Monday  June  16,  2014  
  2. 2. AGM  Agenda 2   1.  Call  to  Order   2.  Determina2on  of  Quorum   3.  Ra2fica2on  of  All  Acts  of  the  Board   4.  Elec2on  of  Trustees   5.  Appointment  of  Officers   6.  Appointment  of  Corporate  Secretary   7.  Approval  of  Audited  Financial  Statement   8.  Appointment  of  Auditor   9.  Amendment  of  the  Ar2cles  of  Incorpora2on   10. Amendment  of  Bylaws  
  3. 3. AGM  Agenda 3   1.  Call  to  Order   2.  Determina2on  of  Quorum   3.  Ra2fica2on  of  All  Acts  of  the  Board   4.  Elec2on  of  Trustees   5.  Appointment  of  Officers   6.  Appointment  of  Corporate  Secretary   7.  Approval  of  Audited  Financial  Statement   8.  Appointment  of  Auditor   9.  Amendment  of  the  Ar2cles  of  Incorpora2on   10. Amendment  of  Bylaws  
  4. 4. AGM  Agenda 4   1.  Call  to  Order   2.  Determina2on  of  Quorum   3.  Ra2fica2on  of  All  Acts  of  the  Board   4.  Elec2on  of  Trustees   5.  Appointment  of  Officers   6.  Appointment  of  Corporate  Secretary   7.  Approval  of  Audited  Financial  Statement   8.  Appointment  of  Auditor   9.  Amendment  of  the  Ar2cles  of  Incorpora2on   10. Amendment  of  Bylaws  
  5. 5. Board  Resolu+on  for  Yolanda  Dona+ons 5   A.    Fourth  Quarter  of  2013     Partner Schedule of Release 4thQuarter2013 AbrigoMerin Carmen Riel Catholic Social Services Champion Life Centre Divine Word Hospital Tacloban (c/o PCoseteng) Eastern Visayas NGO & PO's Fatima MPC Iloilo Code NGO c/o Ina Ayala NAMACA Negros Women for tomorrow Foundation PASAR Foundation Peace and Equity Foundation SAMICO Vicky Lopez Victory Christian Fellowship Wadah Philippines Western Samar Development Foundation Zuellig Family Foundation 44,208.00 68,585.00 14,000.00 21,000.00 17,400.00 14,000.00 77,000.00 546,000.00 42,000.00 52,136.00 20,310.00 14,736.00 700,000.00 91,000.00 6,310.00 14,000.00 68,585.00 14,000.00 72,385.00 Total P1,897,655.00 On  November  20,  2013  the  board   approved  and  adopted  a  resolu2on  to   donate  a  total  of  P12,289,932.00  to   the  following  en22es.  
  6. 6. Board  Resolu+on  for  Yolanda  Dona+ons 6   A.    Third  Quarter  of  2014     Partner Schedule of Release 3rdQuarter 2014 Apia Elementary School BIDANI (UP VISAYAS) Calawis National High School Extension Camp Explorer Department of Health Dr. Ted Esguerra Engender Health Evnet (Eastern Visayas Network) GawadKalinga Habitat for Humanity Kagabay Foundation Pasali Foundation PhilSSA Tambuyog (Bantayan) Virlanie Foundation WEVnet ( Western Visayas Network) 131,710.00 100,520.00 131,710.00 65,400.00 344,064.00 68,585.00 1,070,045.00 400,901.00 1,252,940.00 1,252,940.00 201,340.00 200,000.00 1,002,430.00 200,200.00 503,300.00 410,520.00 Total P7,336,605.00 Partner Schedule of Release 1st Quarter 2014 Camp Explorer CCT Engender Health Gibitngil Enlightened Farmers and Fisherfolks Assoc. Iloilo Code NGO Mercy in Action Municipality of Daanbantayan Operation Compassion Phi Inter Island Sailing Foundation PhilSSA PHINSAF Ramon Abolitz Foundation Wadah Philippines Zuellig Family Foundation 6,960.00 8,102.00 169,945.00 41,860.00 223,510.00 140,970.00 42,830.00 91,200.00 11,400.00 140,000.00 5,600.00 733,000.00 137,170.00 289,755.00 Total P 2,042,302.00 Partner Schedule of Release 2nd Quarter 2014 A. Soriano Foundation Habitat for Humanity 839,170.00 174,200.00 Total P 1,013,370.00 B.  First  Quarter  of  2014   C.      Second  Quarter  of  2014  
  7. 7. AGM  Agenda 7   1.  Call  to  Order   2.  Determina2on  of  Quorum   3.  Ra2fica2on  of  All  Acts  of  the  Board   4.  Elec2on  of  Trustees   5.  Appointment  of  Officers   6.  Appointment  of  Corporate  Secretary   7.  Approval  of  Audited  Financial  Statement   8.  Appointment  of  Auditor   9.  Amendment  of  the  Ar2cles  of  Incorpora2on   10. Amendment  of  Bylaws  
  8. 8. Elec+on  of  Trustees 8   •  Arnel  D.  Casanova   •  Edgar  O.  Chua   •  Harald  Schützeichel   •  Jaime  I.  Ayala   •  Joselito  H.  Sibayan   •  Julio  Sy   •  Richard  Tantoco   •  Vicente  S.  Perez,  Jr.    
  9. 9. AGM  Agenda 9   1.  Call  to  Order   2.  Determina2on  of  Quorum   3.  Ra2fica2on  of  All  Acts  of  the  Board   4.  Elec2on  of  Trustees   5.  Appointment  of  Officers   6.  Appointment  of  Corporate  Secretary   7.  Approval  of  Audited  Financial  Statement   8.  Appointment  of  Auditor   9.  Amendment  of  the  Ar2cles  of  Incorpora2on   10. Amendment  of  Bylaws  
  10. 10. Appointment  of  Officers 10   •  Chairman/President  –  Jaime  Ayala   •  Vice  Chairman  –  Vince  Perez    Harald  Schützeichel     •  Treasurer  –  Joselito  Sibayan    
  11. 11. AGM  Agenda 11   1.  Call  to  Order   2.  Determina2on  of  Quorum   3.  Ra2fica2on  of  All  Acts  of  the  Board   4.  Elec2on  of  Trustees   5.  Appointment  of  Officers   6.  Appointment  of  Corporate  Secretary   7.  Approval  of  Audited  Financial  Statement   8.  Appointment  of  Auditor   9.  Amendment  of  the  Ar2cles  of  Incorpora2on   10. Amendment  of  Bylaws  
  12. 12. Appointment  of  Corporate  Secretary 12   •  Corporate  Secretary  –  A[y.  Edgar  B.  Francisco   •  Assistant  Corporate  Secretary  –  A[y.  Rose[e  S.  Gaerlan          
  13. 13. AGM  Agenda 13   1.  Call  to  Order   2.  Determina2on  of  Quorum   3.  Ra2fica2on  of  All  Acts  of  the  Board   4.  Elec2on  of  Trustees   5.  Appointment  of  Officers   6.  Appointment  of  Corporate  Secretary   7.  Approval  of  Audited  Financial  Statement   8.  Appointment  of  Auditor   9.  Amendment  of  the  Ar2cles  of  Incorpora2on   10. Amendment  of  Bylaws  
  14. 14. Approval  of  Audited  Financial  Statement 14  
  15. 15. Key  Accoun+ng  and  Audi+ng  MaEers 15   Descrip(on   Audit  Resolu(on   Dona(on  expense  recogni(on   Nonprofit  organiza2ons  adopt  the  same  accrual  basis  of  accoun2ng  used  by   business  enterprises  (IAS  37).  Thus,  grants/dona2ons  are  recorded  as  expenses  and   provided  for  with  a  provision  when:     •  the  founda2on  has  a  present  obliga2on  (legal  or  construc2ve)  as  a  result  of  a   past  event;   •  it  is  probable  that  an  oublow  of  resources  embodying  economic  benefits  will  be   required  to  se[le  the  obliga2on;  and   •  a  reliable  es2mate  can  be  made  of  the  amount  of  the  obliga2on.   As  of  December  31,  2013,  the  founda2on  recorded  dona2ons  payable  amoun2ng  to   Php10.4  million.  The  pledge  of  dona2on  was  executed  by  the  founda2on  for  its   donees  per  Board  Resolu2on  11-­‐20-­‐2013  No.  01.  The  inventory  is  to  be  released   through  the  1st  to  3rd  quarter  of  2014  as  follows:     We  have  performed  cut-­‐off  tests   to  ensure  that  the  dona2on   expenses  are  recorded  in  the   correct  accoun2ng  period.     We  have  verified  the  release  of   the  dona2ons  through  inspec2on   of  subsequent  transac2ons             1st  Quarter  of  2014   Php2,042,302   2nd  Quarter  of  2014   Php1,013,370   3rdQuarter  of  2014   Php7,336,605  
  16. 16. Key  Accoun+ng  and  Audi+ng  MaEers 16   Descrip(on   Audit  Resolu(on   Income  tax  exemp(on   As  a  non-­‐stock,  not-­‐for-­‐profit  organiza2on  intended  for  charitable  purposes,  the   Founda2on’s  income  is  exempt  from  payment  of  income  tax  as  set  forth  in  Sec2on   30(e)  of  the  na2onal  Internal  Revenue  Code  (NIRC)  as  amended  by  Execu2ve  Order   273.       Please  see  excerpt  as  indicated  below:     SEC.  30Exemp2ons  from  Tax  on  Corpora2ons     (E)  Nonstock  corporaCon  or  associaCon  organized  and  operated  exclusively  for   religious,  charitable,  scienCfic,  athleCc,  or  cultural  purposes,  or  for  the  rehabilitaCon   of  veterans,  no  part  of  its  net  income  or  asset  shall  belong  to  or  inures  to  the  benefit   of  any  member,  organizer,  officer  or  any  specific  person;   We  have  ensured  that  the   en2ty’s  opera2ons  are   undertaken  for  charitable   purposes  only    
  17. 17. AGM  Agenda 17   1.  Call  to  Order   2.  Determina2on  of  Quorum   3.  Ra2fica2on  of  All  Acts  of  the  Board   4.  Elec2on  of  Trustees   5.  Appointment  of  Officers   6.  Appointment  of  Corporate  Secretary   7.  Approval  of  Audited  Financial  Statement   8.  Appointment  of  Auditor   9.  Amendment  of  the  Ar2cles  of  Incorpora2on   10. Amendment  of  Bylaws  
  18. 18. Appointment  of  Auditor 18   •  Auditor:  Sycip  Gorres  Velayo  &  Co.  (SGV  &  Co.)   •  Fee:  Gra2s    
  19. 19. AGM  Agenda 19   1.  Call  to  Order   2.  Determina2on  of  Quorum   3.  Ra2fica2on  of  All  Acts  of  the  Board   4.  Elec2on  of  Trustees   5.  Appointment  of  Officers   6.  Appointment  of  Corporate  Secretary   7.  Approval  of  Audited  Financial  Statement   8.  Appointment  of  Auditor   9.  Amendment  of  the  Ar2cles  of  Incorpora2on   10. Amendment  of  Bylaws  
  20. 20. 20   Amendment  of  the  Ar+cles  of  Incorpora+on Current   Proposed   Name   Founda2on  for  Rural  Electrifica2on   for  Economic  Development,  Inc.   S2jung  Solarenergie  -­‐  Solar  Energy   Founda2on  (Philippines),  Inc.   Primary  Purpose   To  provide  formal  ins2tu2onal   medium  to  ini2ate,  sponsor,  assist   or  finance  programs  and   projects  for  the  electrifica2on  of   unenergized  barangays  in  the   country  side,  with  end  in  view  of   catalyzing  social  and  economic   development  in  the  said  barangays   without  actually  engaging  in  the   produc2on  and/or  distribu2on  of   electricity   To  provide  formal  ins2tu2onal   medium  to  ini2ate,  sponsor,  assist   or  finance  programs  and  projects  to   provide  access  to  solar  and   renewable  energy  to  marginalized   communi2es  with  end  view  of   catalyzing  social  and  economic   development   Address   Maka2,  Metro  Manila,  Philippines     2nd  Floor  State  Condominium  I   Bldg.,  186  Salcedo  Street,  Legaspi   Village,  Maka2  City   Number  of  Directors   That  the  number  of  trustees  of  the   founda2on  shall  be  FIFTEEN  (15)     That  the  number  of  trustees  of  the   founda2on  shall  be  SEVEN  (7)  
  21. 21. AGM  Agenda 21   1.  Call  to  Order   2.  Determina2on  of  Quorum   3.  Ra2fica2on  of  All  Acts  of  the  Board   4.  Elec2on  of  Trustees   5.  Appointment  of  Officers   6.  Appointment  of  Corporate  Secretary   7.  Approval  of  Audited  Financial  Statement   8.  Appointment  of  Auditor   9.  Amendment  of  the  Ar2cles  of  Incorpora2on   10. Amendment  of  Bylaws  
  22. 22. 22   Amendment  of  Bylaws Current   Proposed   Date  of  Annual  Mee(ng   Second  Monday  of  March   Last  Thursday  of  May  

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