Submitted by: Submitted by spinjunkie23
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Words: 334
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Category: Business and Industry
Date Submitted: 09/21/2012 07:07 AM
• ACA 1: Foundation for the founding parents – tax breaks, offset expenses for CSR - CARLO
o This ACA will cover the following primary features:
Pascual Laboratories, Inc. will establish a foundation (non-stock/non-profit corporation) in honor of its founders, Isosceles and Leonora Pascual, for being a prime example in sound business ethics and good governance and for their unwavering commitment to Corporate Social Responsibility. This foundation will focus mainly on healthcare-related charity work, grants, and endowments in order to channel its resources properly with the highest level of competence and efficiency.
o Execution
▪ Formally establish the foundation with the SEC (includes the ff):
• Articles of Incorporation and by-laws (name, directors, etc.)
• Infuse capital of at least Php 1,000,000.00 (SEC Circular 8-2006)
• Get endorsement from various government agencies (e.g. DSWD, DepEd, DOH, etc.) mandated by E.O. 720
▪ Create a framework and roadmap of activities lined up for the foundation
▪ Develop the foundations networking capabilities
• Marketing and awareness campaigns to be made known
• Build trust and relationships within the NGO community
▪ Conceptualize and execute fundraising programs
• Fundraising campaigns (dinners, marathons, etc.)
• Support or initiate charity work
• Endow grants, etc.
▪ Execute these programs
o Advantages
▪ Tax Benefits – Non-stock/Non-profit foundations are exempt from tax (R.A. 8424, Tax Reform Act of 1997)
▪ Gives Pascual Labs full control of where the funds for donations, grants, and other charity-work will go to
▪ Provide additional jobs
▪ Provides for a good channel for Corporate Social Responsibility work
▪ Additional donations from other benefactors allows for greater leverage in having pooled funding or resources
o Disadvantages
▪ The time and the tedious work...