Creating the Gintong Alay Foundation, Defining Its Functions and for Other Purposes

Case Overview and Summary

Summary of Executive Order No. 642

Name and Location (Sec. 1):
- Creates a body corporate called the Gintong Alay Foundation, Inc. (the Foundation).
- Main executive offices located in Metro Manila.

Purposes and Objectives (Sec. 2):
- Render maximum assistance primarily to the Project: Gintong Alay in attaining its objectives.
- Raise funds annually for the Project: Gintong Alay and conduct research related to athlete training, sports facilities, and equipment management.
- Distribute raised funds according to a systematic budgeting procedure.
- Promote effective planning, coordination, and administration of athlete training as envisioned in LOI 955 and LOI 1022-A.
- Acquire, lease, and own real estate necessary for carrying out the Foundation's purposes.
- Receive and accept donations of money or property, real or personal, from any person or entity, including the Republic of the Philippines or its subdivisions and instrumentalities.
- Accept and administer real or personal property in trust for the above purposes.
- Sell or lease any acquired property.
- In case of dissolution, remaining assets shall be disposed of and turned over to a foundation dedicated to scientific/cultural pursuits of its choice or to the Republic of the Philippines or any of its agencies, instrumentalities, or political subdivisions.

Board of Trustees (Sec. 3):
- The governing powers and authority of the Foundation shall be vested and exercised by a Board of Trustees.
- The Board shall be composed of one chairman appointed by the President of the Philippines and four (4) members.

Functions of the Board (Sec. 4):
- Promulgate and adopt policies, plans, rules, and regulations necessary for the effective discharge of its responsibilities.
- Appoint the President and one or more Vice-Presidents to assist the President in the administration of the Foundation's affairs.
- Review periodically the administration and program of the Foundation.

The President (Sec. 5):
- The Board of Trustees shall appoint a President of the Foundation, who shall be its chief executive officer.
- The President shall receive compensation and remuneration fixed by the Board.
- The President shall exercise all powers and duties inherent to the position and such other functions as may be vested by the Board of Trustees.

Tax Exemptions (Sec. 6):
- Any donation, contribution, bequest, subsidy, or financial aid made to the Foundation shall be exempt from taxes of any kind.
- Such donations shall constitute allowable deductions in full from the income of the donor or giver for income tax purposes.

Repealing Clause (Sec. 7):
- All laws, executive orders, administrative issuances, rules, and regulations inconsistent with the provisions of this Order are hereby repealed, amended, or modified accordingly.

Separability Clause (Sec. 8):
- If any provision of this Order is declared invalid or unconstitutional, the remainder shall not be affected.

Effectivity (Sec. 9):
- This Order shall take effect immediately.