CYDF Project Proposal to Sinagtala '87 - Calantas Young Dreamers ...

III. Management and Organization of CYDFI Scholarship Program Model
As a nonprofit organization, the Foundation is managed by the members of the Board
of Directors from whom a group of nine (9) members of Board of Trustees are elected.
Executive Officers are elected from the Board of Trustees. This process takes place
during the annual Board Meeting in Calantas. Further understanding of this procedure
is found in the By-Laws of the Foundation.
A. Management of CYDFI Scholarship Program Model
All scholarship programs, including those replication scholarship programs in
other communities, are within the mission parameter of the Foundation:
“to empower indigent but deserving talented youths living in abject
poverty in the Philippine rural areas help them help themselves so they can help
incoming scholars leading to breaking their cycle of poverty as they learn to
become socially responsible, with implications not only to personal but
community growth and development, and to promote replication advocacy of
said model in other rural communities”.
Based on the principle of the Mission Statement, the process for which a
community or body of organization wanting to work in collaboration with the
Foundation, shall be referred to as a “CYDFI Satellite Scholarship Program Model”
beginning with Barrio Benedicto, officially designated as ‘CYDFI-Benedicto Satellite
Scholarship Program Model 001” with the following parameters of relationship:
1. A document on Protocol of Implementation of the Scholarship Program is to be
designed and has to be approved by the CYDFI Board of Directors, during their
Annual Board Meeting in Calantas, Floridablanca, Pampanga. Please, log on at
www.cydf821philippines.com and click on CYDFI-Benedicto Satellite Scholarship
Program Model 001 as the first replication project of the Foundation in Bo. Benedicto.
2. When operational per protocol established, a Satellite Scholarship Program is
independent from the main scholarship program of the Foundation in Calantas and
Nabuclod in terms of the ACTUAL FINANCIAL ACTIVITY of the said Satellite
Program EXCEPT that the said Satellite Program is responsible to accurately
document its financial activity (Raising and Spending of Funds for Scholarship and this
is where the Foundaiton (CYDFI) shall monitor and have the records financially
audited prior to the filing of the Annual Income Tax Return of the Foundation to the
BIR (Bureau of Internal Revenue) and to submit all records and reports to SEC (one
month after the Annual Board Meeting of the Board of Directors in August).
3. As a Satellite Program of the Foundation, all donations (cash or in kind) can be
claimed as tax-credit for all donors providing support to the Mission of the Scholarship
Program, facilitated by the Officers of the Satellite Program. All receipts of donation
must bear the name of the Foundation which shall be issued to the donor upon making
the donation to the Satellite Scholarship Program and such financial activities of the
Satellite Scholarship Program shall be audited by a CPA, an accredited member of the
Board of Accountancy, as an integral part of the CYDFI Financial Statement.
4. In summary, the Officers of a Satellite Scholarship Program shall be responsible and
accountable for generating FUND of the scholarship, with all financial transactions
authenticated with OFFICIAL RECEIPTS of the Foundation. Likewise, this same
FUND can only be used for the intended beneficiaries. Receipts and bookkeeping
records should match the FUND and accounted for during auditing by a CPA prior to
BIR filing of Income Tax Return of the Foundation, afterwhich a summary annual
report shall be submitted to SEC (Securities and Exchange Commission in Manila).
16