Procedures, Submissions, and Other Requirements to Operate a Foundation
Obtaining a Primary License for a Foundation
Foundations are non-stock corporations. Persons interested in establishing a foundation may do so by establishing a non-stock corporation. No secondary license (Certificate of Authority) is necessary to establish a foundation.
To register a foundation, please click the SEC – ESPARC link below to begin the registration process:
https://esparc.sec.gov.ph < < Please Click
The Electronic Simplified Processing of Application for Registration of Company (SEC – ESPARC) is a facility to cater application for registration of One Person Corporation (OPC) and Domestic corporations (stock and non-stock) with 2 or more incorporators who may either be natural person, partnership, association or corporations, singly or jointly with others but not more than fifteen (15) in number. The system allows the applicant or his duly appointed representative to submit the proposed company name and input details of the articles of incorporation for review of the Commission.
Reportorial Requirements for Foundations
General Information Sheet (GIS) – to be submitted within (30) days after the annual meeting.
Audited Financial Statements (AFS) – to be submitted depending on whether the Foundation uses a calendar year or a fiscal year not ending on December 31
Foundation follows a calendar year ending on December 31: the due date is based on the pertinent memorandum circular issued every year by the Commission.
Foundation follows a fiscal year not ending on December 31: the due date is (120) days from the end of such year.
Other documents to be filed with the financial statements
For fiscal year ending 31 December 2013 to 31 December 2018:
|(a)||Notarized Sworn Statement of the President and the Treasurer (SS) using the prescribed form in SEC Notice dated 18 April 2013 in relation to SEC Memorandum Circular No. 8, Series of 2006|
Certification of Existence of Programs/Projects/Activities (COEP), as applicable
For the guidelines in the accomplishment and submission of the SS and COEP, please refer to this SEC Notice: GUIDELINES IN THE ACCOMPLISHMENT AND SUBMISSION OF SWORN STATEMENT OF SOURCES, AMOUNT AND APPLICATION OF FUND (SS) AND CERTIFICATE OF EXISTENCE OF PROGRAM/ACTIVITY (COEP)
|(c)||As applicable, Certification using the prescribed form in SEC Memorandum Circular (MC) No. 15 series of 2016; in lieu of items (a) and (b) (effectivity for the year 2016 to 2018 SS and CEP)|
|(d)||Statement of Willingness to allow SEC Audit (M.C. No. 8, series of 2006);|
For fiscal year ending 31 December 2019 and onwards:
|(a)||NSPO Form-1 (Sworn Statement), NSPO Form-2 (Affidavit of Willingness to be Audited), and NSPO Form-3 (Schedule of Receipts or Income or Sources of Funds Other Than Contributions and Donations) must be submitted by all registered non-stock and non-profit organizations|
|(b)||NSPO Form-4 (Schedule of Contributions and Donations), NSPO Form-5 (Schedule of Application of Funds), and NSPO Form-6 (Certification) must be submitted by those with annual contributions or donations of Five Hundred Thousand Pesos (P500,000.00) or more.
These schedules need not be covered by an Auditor’s Report
|(c)||First page (photocopy) of Membership Book showing SEC registration|
|(d)||Proof of submission of the Mandatory Disclosure Form to the EIPD|