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 Post subject: PRMO Foundation, Inc.
PostPosted: Sun May 11, 2008 7:54 pm 
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Below was lifted from the Lanuza kids thread which contains a noble suggestion by dd44:
dd44 wrote:
sniper1277 wrote:
dd44 wrote:
That is the problem, but there are a lot of helpless kids in the Philippines.


Ito ung rason ng isang tao ng ayaw talaga tumulong, maraming dahilan.


Its not that I don't want to help, but helping just one family would hardly dent the problem. I mean I can send 100 dollars right now but how long will that support his kids? 2 months? 3 months? 4 months? Then after that what? Even if I won the lotto, I can't send every poor person money everytime. This kid's hardship is just a by-product of a more deeper problem called poverty. Maybe if we set-up a foundation that aims to eliminate poverty by creating community projects that are self sustaining (we all can't donate everytime, we too have bills to pay), then I will help. Perhaps Epi can set-up a foundation for us, then we can talk about what projects(must be self sustaining) to do. We can't give people fish all the time, but we can teach them how to fish. That I think is a more worthwhile endeavor.

I can do the legwork to "set-up a foundation for us". Let's "get to work". :)

1. Suggest a primary and a secondary purpose. Or as dd44 puts it, a self-sustaining project.
1.1
1.2
1.3
2. Suggest a name for the proposed foundation.
2.1
2.2
2.3
3. Pledge your contribution. SEC requires at least P50,000 for the incorporation of non-profit, non-stock the foundation.
3.1
3.2
3.3
4. Nominate 5 members that would compose the board of trustees.
4.1
4.2
4.3
4.4
4.5


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PostPosted: Sun May 11, 2008 10:39 pm 
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Kudos to you guys... 8) ayos yang na isipan ninyo.

Question lang torni, based on the law regarding foundations. What kinds of tax exemptions a company will be benefited once a certain company also owned a foundation at the same time? If there's any please specify.

Also, is there any particular amount or if i may say the term correctly standard investment for a foundation?

Pasincya lang kung midyo malayo ang tanung ko, I just want to learn more about foundations. Midyo di ko kasi gaanong na intindihan ang mga pamamaraan dito sa atin eh!

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PostPosted: Mon May 12, 2008 4:40 am 
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Im in the process of applying for the CCRA number to legitimize donations here in Canada. To me, my primary motivation was to help people especially children whose parents went overseas to work. They should be given support both emotionally or financially but of course money can only stretch so much so the best thing to do is "teach them how to fish." Teach them leadership skills, so they dont become followers and help them look out for themselves so they learn how to cope on their own. Counsel them about growing up, drugs, the street at kung ano ano pa na pwedeng itulong sa kanila.

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PostPosted: Mon May 12, 2008 4:57 am 
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Epifanio M. Almeda wrote:
I can do the legwork to "set-up a foundation for us". Let's "get to work". :)

1. Suggest a primary and a secondary purpose. Or as dd44 puts it, a self-sustaining project.
1.1
1.2
1.3
2. Suggest a name for the proposed foundation.
2.1
2.2
2.3
3. Pledge your contribution. SEC requires at least P50,000 for the incorporation of non-profit, non-stock the foundation.
3.1
3.2
3.3
4. Nominate 5 members that would compose the board of trustees.
4.1
4.2
4.3
4.4
4.5


I plan and want to give more, but I can only afford $50 now.(celebrated my son's birthday yesterday, nalimas ako) Anyway it would take us some time to discuss the name and the specific purpose of the foundation. I can give more by the time we actually setup the foundation. Epi, PM me your paypal account.


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PostPosted: Mon May 12, 2008 5:34 am 
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dd44 wrote:
I plan and want to give more, but I can only afford $50 now.(celebrated my son's birthday yesterday, nalimas ako) Anyway it would take us some time to discuss the name and the specific purpose of the foundation. I can give more by the time we actually setup the foundation. Epi, PM me your paypal account.

Thanks for this pledge. Just hold your money and don't send it yet. If we can't push through with this, it would cost us in sending the money back. To register, we need P50,000 as initial fund + registration fee of about P3,000 + notarial, transpo, etc., let's say P55,000 to have the foundation registered.

When the pledges reach P55,000, I can start receiving remittances. :)

Pledges for incorporation:
1. dd44 - US$50
2.


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PostPosted: Mon May 12, 2008 5:43 am 
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grean villacarlos wrote:
Kudos to you guys... 8) ayos yang na isipan ninyo.

Question lang torni, based on the law regarding foundations. What kinds of tax exemptions a company will be benefited once a certain company also owned a foundation at the same time? If there's any please specify.

Also, is there any particular amount or if i may say the term correctly standard investment for a foundation?

Pasincya lang kung midyo malayo ang tanung ko, I just want to learn more about foundations. Midyo di ko kasi gaanong na intindihan ang mga pamamaraan dito sa atin eh!

Donations to a non-religious, non-profit charitable foundation is deductible from income tax computation. There is a schedule on the amounts exempted per year.

At present the Phil Securities & Exchange Commission (SEC) requires at least P50,000 as "capital" to register a foundation (excluding registration expenses).

The foundation will be administered by a board of trustees who are members of the foundation. A "member" is the equivalent of a stockholder in a stock corporation. The board of trustees is the equivalent of the board of directors.


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PostPosted: Mon May 12, 2008 8:31 am 
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i suggest that we meet in person and talk this over. it's very hard to talk about these things online.

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PostPosted: Mon May 12, 2008 9:30 am 
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FlUiD wrote:
i suggest that we meet in person and talk this over. it's very hard to talk about these things online.


Sige punta kayo dito sa LA.


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PostPosted: Mon May 12, 2008 9:48 am 
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dd44 wrote:
FlUiD wrote:
i suggest that we meet in person and talk this over. it's very hard to talk about these things online.


Sige punta kayo dito sa LA.


give me an invitation para mapakita sa embassy for visa and i am very willing to go there. :biglaugh:

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PostPosted: Mon May 12, 2008 10:10 am 
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FlUiD wrote:
dd44 wrote:
FlUiD wrote:
i suggest that we meet in person and talk this over. it's very hard to talk about these things online.


Sige punta kayo dito sa LA.


give me an invitation para mapakita sa embassy for visa and i am very willing to go there. :biglaugh:


Di na kailangan ng invitation, punta ka na lang sa embassy tapos sabihim mo manood ka ng laban ni Pacman sa vegas and tell the consul "I want to go to disneyland" :)


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PostPosted: Mon May 12, 2008 10:46 am 
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dd44 wrote:

Di na kailangan ng invitation, punta ka na lang sa embassy tapos sabihim mo manood ka ng laban ni Pacman sa vegas and tell the consul "I want to go to disneyland" :)


:lol:

sabihin nun pumunta na lang ako ng hongkong mas mura pa.

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PostPosted: Mon May 12, 2008 11:06 am 
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FlUiD wrote:
dd44 wrote:

Di na kailangan ng invitation, punta ka na lang sa embassy tapos sabihim mo manood ka ng laban ni Pacman sa vegas and tell the consul "I want to go to disneyland" :)


:lol:

sabihin nun pumunta na lang ako ng hongkong mas mura pa.
Paano ko, nandito ako sa Alberta?

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PostPosted: Mon May 12, 2008 11:15 am 
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dd44 wrote:
FlUiD wrote:
i suggest that we meet in person and talk this over. it's very hard to talk about these things online.


Sige punta kayo dito sa LA.


malapit ka ba sa west covina, ca?

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PostPosted: Mon May 12, 2008 11:20 am 
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Tony wrote:
dd44 wrote:
FlUiD wrote:
i suggest that we meet in person and talk this over. it's very hard to talk about these things online.


Sige punta kayo dito sa LA.


malapit ka ba sa west covina, ca?


thats around 30 miles from where I live.


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PostPosted: Mon May 12, 2008 11:22 am 
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malapit lang pala.

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