September 9, 2016
SEC MEMORANDUM CIRCULAR NO. 15-16
| TO | : | All Foundations |
| SUBJECT | : | Submission of the Sworn Statement and COEP |
WHEREAS, pursuant to the Revised Guidelines on Foundations or SEC Memorandum Circular No. 8, Series of 2006, all Foundations are required to submit a Sworn Statement of its President and Treasurer of the Sources, Amount and Application of Funds and Program/Activity Planned, Ongoing and Accomplished (SS) and Certificate of Existence of Program/Activity (COEP).
WHEREAS, it is the government's policy to make doing business in the Philippine easier.
IN VIEW OF THE FOREGOING, only Foundations receiving funds from any Philippine government agency or any department, bureau or office of the national government, or any of its branches and instrumentalities, or any political subdivision or its instrumentalities thereof, as well as any government-owned or controlled corporation, including its subsidiaries, or other self-governing Board or Commission of the government or those who receive donations/grants/contributions in the amount of at least Five Hundred Thousand Pesos (Php500,000.00) in one or aggregate transaction per donor/grantor/contributor, are hereby required to submit the aforesaid SS and...
