PSF Annual Report 2012 - PLDT Smart Foundation

Transcription

Touching Hearts
Changing Lives
annual report 2012
Message from the Chairman
The worst of times bring out the best qualities in the Filipino. This is a conclusion that we have observed every
time there are challenges that test the Filipino spirit. In times of trial, there is no rich or poor – and the gap that
usually divides them does not exist at that moment. Instead, there are only hands helping each other, minds and
hearts bonded together by the common resolve to help those in need.
It is this image of brotherly cooperation, selfless generosity and innate kindness that push our personal limits to
help improve the lives of others. More than just ensuring that our businesses are running efficiently, we go out of
our way to build and rebuild lives. This concept of ‘kapatiran’ and ‘malasakit’ have been proven especially during
natural disasters such as typhoons Sendong in 2011 and Habagat and Pablo in 2012.
Like in every calamity, people’s basic needs are affected – water, electricity, communications and connectivity. It
is a moment when we find ourselves and our businesses at the forefront of effecting change in the lives of our
fellow Filipinos.
The call to respond in times of disaster and calamity has become the driving force not only within the PLDT
Group but also within the broader MVP Group. Highlighting the values of kinship and convergence, we formed
Tulong Kapatid, an encompassing initiative that combines the abilities, expertise and the innate instinct to
reach out to others.
Like a band of brothers, the help transmitted is multiplied. Thus the desired effects in relaying basic services
and relief operations are fast-tracked, and become more tangible and felt. Tulong Kapatid is more than just a
slogan and a siren call; it is the spirit that demands the best from within our own selves in the worst of times.
But more than that, what is truly touching is that big businesses are not the only transmitters of charity. I was
told of stories of how a simple market vendor would donate her hard-earned P100 from her earnings for the
day in order to procure relief goods for the typhoon victims of Cateel and Boston in Davao Oriental. Or the family
of a tricycle driver who squeezed into their own tricycle just to deliver more donations. I am always moved by the
smiles and tears of joy in the faces of our beneficiaries when we reach out to them.
This sentiment can always be found every time we reach out to others, especially in the aftermath of a disaster.
As businesses owe its successes to the communities and people it serves, the unwritten commitment to give
back and share resources, wealth and wisdom is what truly defines the essence of what we do, something that
we hope would be inculcated in each and every Filipino. These are essential in building a stronger, wiser and
better nation.
In the course of conceptualizing CSR programs for our target beneficiaries, we have relied on partnerships
between the public and private sectors to make these programs successful and sustainable. PLDT-Smart
Foundation’s advocacies in education, poverty alleviation, disaster risk reduction, and environmental protection
benefit from the cooperation of individuals, organizations and businesses.
Now, in a time when seamless interconnection blurs economic and political boundaries, equalizes people of
different backgrounds, and unites diverse communities into a converged world, let us work hand in hand in
connecting people, uplifting lives and nurturing communities. Let us create a world where people create lasting
relationships, and truly share each other’s wealth and experience.
Manuel V. Pangilinan
“
As businesses owe its successes to the
communities and people it serves, the unwritten
commitment to give back and share resources,
wealth and wisdom is what truly defines the
essence of what we do, something that we hope
would be inculcated in each and every Filipino.
”
Contents
02 Message from the Chairman
PLDT Group’s Corporate Social Responsibility
05
Message from the President
06
Touching Hearts
A
14
Board of Trustees
16
Changing Lives
26Reaching Out
36 Financial Report
About the cover
As technology evolves and
constantly redefines itself,
what is important is how
these innovations transform
lives and redefine our future.
Two children whose hands
are reaching out to a heartshaped wall collage grace our
cover. Just as the heart is
the place of convergence for
every drop of life-giving blood,
PSF’s CSR endeavors hope
to touch the hearts of every
Filipino in order to change
their lives and uplift their
communities.
t the PLDT Group of Companies, Corporate Social
Responsibility (CSR) is grounded in our belief that an
integral part of our business is the imperative to help improve
the overall well-being of the Filipino people. To achieve this
goal, we will address proactively the interests of our various
stakeholders. We believe that as we seek to enhance value
for our shareholders, we have a responsibility to:
•
•
•
•
•
Provide quality products and services for our customers
Develop our employees
Work with our suppliers and business partners in an
ethical and mutually beneficial manner
Care for the environment
Improve our communities
We are conscious about the proper management of our finite
and fragile environment and are taking tangible measures
to lessen our carbon footprint. We will continue to invest in
technical business solutions that both cut our costs and help
save the environment.
By succeeding as a corporation, we create wider opportunities
for employment, entrepreneurship and the greater well-being
of all Filipinos. We believe that as we help raise the overall
economic welfare of Filipinos, we expand the market of our
products and services. The core of our Company’s business
strategy is the desire to “Change Lives for the Better”.
Message from the President
A
s a major telecommunications conglomerate, the PLDT Group aims to provide the
best, most effective and efficient service so that people and businesses can have
seamless connection: people need to connect with loved ones despite the distance,
while businesses and institutions require 24-hour connectivity in order to operate well and
fulfill their obligations. Nevertheless, our commitment to seamless connection goes beyond
communications.
Our work in corporate social responsibility and philanthropy is as rich as the many situations
and personalities we encounter. And many times, we think that we get more from those
who receive our help, making the experience worth doing over and over. As we touch lives,
we are touched in return.
To be able to transform the way people think and lead their lives can be overwhelming.
Every time we coordinate with institutions and persons who seek our help, we feel the
tremendous challenge to successfully bring a positive and lasting impact to those who
benefit from it. From planning to execution, nothing drives us to strive for perfection but
the smile from a child’s face or the messages of gratitude from our scholars. They may not
realize it, but helping them can be rewarding in itself; we get to experience the satisfaction
and honor while remaining humbled by the privilege of helping others.
Through our transformative programs and endeavors, effecting change in the lives of many
Filipinos does not feel burdensome or obligatory; rather, there is a feeling of fulfillment as
our recipients translate them into positive results.
The Gabay Guro Program, since its inception in 2007, has since supported hundreds of
future teachers to become effective messengers of information and knowledge through
training, additional livelihood opportunities, improving communications technology learning
in classrooms, and even providing them with decent housing.
Project Pagsulong, our newest project launched in 2012, brings out the best in our youth
as they answer the call for innovative business ideas. Using their creativity, ingenuity,
strategies and available resources, we have invited young Filipinos to help in the campaign
to alleviate poverty in society while at the same time, have encouraged them to become
successful entrepreneurs.
Another project worth mentioning is our strategic partnership for the Dynamic Learning
Program of Dr. Chris and Marivic Bernido, two respected science educators who started
this innovative learning system in their school in Jagna, Bohol. By supporting the scientistcouple, we hope to change the way Filipino students learn and appreciate education in the
21st century and build a country of science scholars and workers as we learn together as
one nation.
The goal to reach out to as many Filipinos does not end there. In times of disaster, nothing
is more important than having an immediate and expansive response to the cries for help
and assistance of those affected by calamities. Our employees in PLDT and Smart have
proven once more their commitment to help during relief operations in the wake of the
Habagat and Typhoon Pablo in 2012. More than that, we did this in partnership with the
different entities within the First Pacific Group, who along with PSF have allied themselves
in Tulong Kapatid, effectively addressing many concerns in disaster preparedness and
recovery.
To touch hearts, to change lives, to reach out to those in need – the PLDT-Smart Foundation
does not stop in answering the call to transform lives and communities. As we go about
initiating new projects and continuing those already started, we realize that we cannot
merely define and analyze what brotherhood and kinship is all about – rather, we pass
these notions through our hearts and minds to generate acts that truly bring us closer to
becoming one family, one community and one nation.
Ma. Esther O. Santos
“
Through our
transformative
programs and
endeavors, effecting
change in the lives of
many Filipinos does not
feel burdensome or
obligatory; rather, there
is a feeling of fulfillment
as our recipients
translate them into
positive results.
”
touching hearts
Chairman, PLDT
M
y journey to CSR work started when i was in college. Every
Saturday, we would teach Catechism at the National Mental Hospital
in Mandaluyong. Once a month, on a Sunday, we would be with the poor in
Sapang Palay.
The greatest challenge for our country is Poverty Alleviation. Through
the PLDT Group, we can do more to help improve the economic welfare
of our people.
Being involved in CSR, the most important lesson that I have
learned is helping the poor is a must for business.
My CSR heroes are Bill Gates and Warren Buffet because they not
only gave their wealth but are also spending time to do CSR work.
The relief operations and post-disaster work for Typhoon Ondoy was a
memorable experience for me.
PSF President
M
y journey to CSR work started when
I was invited by a Filipino NGO to assist
them in some of their projects for women.
Since then, I had seen the impact that working with underprivileged groups can have
when we help them uplift themselves.
The greatest challenge for our
country is quality education and creating
jobs and businesses to impact the lower
income segment or the BOP; and through
PLDT-Smart Foundation, we can do
programs that address problems related
to these sectors, even if the solutions
do not always come in the form of our
telecommunications services.
Being involved in CSR, the most important lesson that I have learned is to
listen and be one with the people we are
trying to help.
For me, the most relevant role of CSR
is to support people who want to improve
their lives and to help build the nation.
My CSR hero is MVP and to a large extent, my parents who have taught me with
their example of generosity and caring for
others.
We are touching lives by investing in
our people’s future and giving opportunities
and access through better education and
livelihood.
Two experiences come to mind where
I have witnessed true servant leadership in
CSR.
The first occasion when I had a chance
to work with MVP in a disaster response
setting was amidst the most unpleasant
circumstances with the rains of Pedring
and Quiel pounding on Luzon last October
2011. Upon hearing the news, MVP immediately called a small team to his MGO office
on a Saturday! I don’t know how everyone
managed to make it, but we were there
by 11, ready to take instructions from the
Boss. His take charge attitude brought us
out of our comfort zones, and we were soon
running and making calls to check on our
facilities and our people. He asked us how
many rescue boats we had, how many relief packs we can get ready. I still cannot get
over how quickly MVP decided, and a team
was asked to gather the funds and acquire
some new rescue boats for deployment
ASAP. And the next day, Sunday October 2,
2011, we were all in Pampanga and Bulacan together with MVP meeting with mayors, the Red Cross and distributing relief
goods.
Again, MVP’s speediness in responding
during times of great need was manifested
when Typhoon Pablo struck last December
2012. Even if he was out of the country at
that time, he once again united our troops
to mount the first TV5 Telethon. This effort
brought in a record (of more than) P100
million in less than a day of the telethon.
Also inspiring was that this amount was
reached through the generosity of the big
companies such as those that belong to the
First Pacific Group, as well as the simple folk
who gave up their “alkansya” savings thinking this money can better help the families
in Davao Oriental and Compostela Valley
who have lost everything, rather than spend
it on their Christmas celebration that year.
annual report 2012 /
7
Ramon R. Isberto
Trustee/ Head, PLDT-Smart Public Affairs
M
y journey to CSR work started
when I was a college student and
I joined relief work for floods in Central Luzon. In Smart, it started with an
airplane crash in 1998. Smart was a
very young company at that time and
it didn’t have a formal CSR program
then. When the mayor of the town was
interviewed on television, he was asking help from Smart because we were
the only ones that had a signal in the
area. When MVP found out about it,
he said: “O Mon, tumulong tayo diyan.”
We sent a team to help set up what is
probably the first Libreng Tawag Center. It was very instrumental as it was
used by the families of the victims and
by the rescue team because there
was a signal in the crash site.
Speaking from the context of a
mobile phone company like Smart, it is
natural to get involved with CSR since
wireless and mobile phone communication is an important tool for many
kinds of activities that can benefit a lot
of people if you do CSR work. There’s
a lot that you can do because communications is an enabling tool.
country is inclusive economic development; and through PLDT and Smart,
we can enable people with ICT.
Being involved in CSR, the most
important lesson that I have learned
is you need to build good partnership.
For me, the most relevant role of
CSR is to strengthen the company’s
ties with the community.
You have to hand it to MVP as
you can see him handing goods to
beneficiaries during calamities. I also
admire the Bernidos couple because
they are good partners to work with,
their hearts are in the right place and
they know what they do.
We are touching lives by enabling people and communities to improve their lives.
A memorable experience for me
was the visit to Davao Oriental after
the devastation of Typhoon Pablo. The
magnitude of the destruction was very
wide – and it was shocking to see how
coconut trees were flattened by the
force of the typhoon. It was a big blow
to the residents but with the help of
organizations such as the MVP Group,
we were able to provide livelihood,
housing, and relief.
Chaye Cabal-Revilla
PLDT FVP and Comptroller/Gabay Guro Chairperson
M
when I was still very young as I
have witnessed how my family shared
their blessings and helped others in
times of need. At PLDT,
Gabay Guro was able
to start because I
have friends who
share the same
commitment
and
passion
for
serving
others.
A l l
of
us at Gabay Guro are motivated to give
back to society through honoring our
teachers. It is all about volunteerism
and no one needs to push us, we
are motivated to reach out to more
teachers so they will feel empowered to
also motivate their students.
country is poverty, that’s why we did
Gabay Guro to fight the ills of poverty
through education. I believe that
education is a great equalizer and a
powerful tool to change lives and be free
from the grip of poverty.
is that we are so blessed, that’s why
we have to share to others. We are
just a vessel and we need to share our
blessings especially to those who need
and deserve them. God has given us
so much and it is only appropriate to
share.
CSR is empowering those who need
our help, such as the teachers. If not for
them, how do we ensure a bright future
for the next generation? CSR programs,
such as Gabay Guro, gives us the vehicle
to change the lives of those who change
the lives of the youth.
My CSR hero is my family, especially
my father, because they taught and
showed me the value of being a blessing
to others by being kind and generous.
We are touching lives by uplifting
the lives of our modern-day heroes, the
teachers.
A memorable experience for me in
doing CSR work is when a teacher from
Surigao, went all the way to the PLDT
office just to send her appreciation. In
fact, she even got lost and got down in
Guadalupe. From there, she walked all
the way to the PLDT office carrying a
bayong full of fresh vegetables. I could not
forget her effort and I was so touched
with her gesture. When I think about it,
all our stress and pressure melts away
and we want to further touch the lives of
so many other teachers through Gabay
Guro.
Evelyn M. Del Rosario
Head, PLDT Community Relations Division, Public Affairs
M
y exposure in the world of corporate
social responsibility (CSR) actually
started when I was only eight years old. It
was such at an early age when I took it upon
myself to share old clothes and food with
our farmers back then in Isabela. I helped
my grandfather-mayor to distribute food
and whatever assistance needed to our
much less fortunate constituents. Although
I didn’t have any inkling and wasn’t really
aware that I was already doing CSR works
since I was just following after what I was
witnessing from the benevolent acts of my
grandfather-mayor. I was just imitating the
kind of life that I was being exposed to. I felt
good doing them nonetheless and didn’t
have the slightest idea that fast forward to
the corporate milieu that I am right now, I
will primarily be doing CSR – the most part
of which is devoted and dedicated to doing
it and I feel the very same emotions that I
felt when I was still eight years old. And, as
if adding some parallelism into what I will
eventually be doing, in 1976, I received a
scholarship study grant in Cornell University with a program on policies and strategies for aiding the urban and the rural poor.
The greatest challenges for our
country are in the areas of education and
environment; and through my company
PLDT, we should be more active and implement more programs for education and
environment. Which is what we are doing
at PLDT Community Relations. We focus on
educational and environmental programs.
For education, we have programs
such as the following: a) PLDT Infoteach
Outreach Program. A flagship project
which provides learning opportunities for
public high school students as well as elementary and high school teachers from
across the nation to upgrade their cyber
technology skills through internet and basic
IT education; b) Donation of school building
and classrooms, PCs and establishment of
computer laboratories; c) PLDT-UPOU Online Teachers Development Program ; d)
Digital Literacy for Women.
For environmental programs we have
PLDT “TELEpuno” tree-planting in partnership with the Department of Environment
and Natural Resources (DENR), Philippine Business for Social Progress (PBSP),
Multi-Sectoral Watershed Management
Council, Inc. (MSWMC) and the local government of Infanta and Real, Quezon.
Launched during the 80th anniversary of
PLDT, a five-year tree-planting program
covering 80,000 seedlings aimed at regenerating the natural ecology of 80 hectares
of Infanta-Real Quezon watershed forest
reserve. This benefited at least four people’s organizations with 80 farmers. In time
for PLDT Chairman Manuel V. Pangilinan’s
66th Birthday in 2012, PLDT Community
Relations spearheaded the Company’s environmental greening project dubbed 66K
M.V.P. (Movement for Volunteerism and
Partnership) Trees with the objective of
planting 66,000 seedlings participated in
by the MVP Group of Companies. Areas
covered include Benguet,Pampanga, Bulacan, Marikina,Iloilo, Cebu and Davao.Other
programs are coastal, highway and river
clean up, support to Earth Day celebration,
mangrove planting, among others.
Being involved in CSR, the most important lesson that I have learned is to
be passionate in all the CSR projects you
are doing and to be more effective, you
should really involve yourself, interact with
the communities and lead by example. You
should have the passion to do the job and
understand what is really needed. I believe
that these have been my guiding principles
each and every time we undergo a community project and I must say that I owe it a lot
to the men and women in PLDT. I call them
volunteers, for without them, our project
will never be as fruitful and as successful
that we envision them and how they turn
out to be. Being passionate and being with
my volunteers are the most important lessons I have learned in the span of time that
I have been doing CSR projects. I can never do without my volunteers, since, I want
them to be as passionate as myself if only
to achieve success when it comes to CSR
works. This is what we have been espousing
all through these years that we have been
doing our CSR initiatives – employee-volunteerism.
CSR is helping people face reality and mobilizing them to make change necessary in
uplifting their lives and rising up again and
again from the crises that continue to behoove them. To alleviate poverty as well and
be ready to give and extend a helping hand
especially in times of calamities and disasters. In the span of time that I have been
into CSR, I have realized that there’s nothing
more fulfilling than being able to help people
and feeling and sharing with them how it is
to face reality and continue to rise up after
every fall. And you can’t do this alone. You
have to be with people who have the same
resolve and passion to help, hence our employee-volunteerism program.
My CSR hero is PLDT Chairman
Manuel V. Pangilinan. MVP because he is
ultimately the epitome, the father of CSR in
PLDT. He leads us in espousing and doing
CSR works. He sets the highest standard
of volunteerism among our employees.
He makes himself available in the PLDT
CSR programs. As I’ve always said, I really admire MVP because given his stature
as a businessman, he has a big heart for
the poor and in times of calamities, he is
the first to initiate moves to help. Celebrating one’s special day with the people he
can help and be with for a whole day has
been his no-miss tradition each and every
year. CSR is MVP and MVP is CSR.We are
touching lives and eventually changing lives
by providing the needs of the marginalized
members of society and through these
CSR projects, we offer, they were given
hope and inspiration to change for the better. We became instruments for them to
go on living, improve their lives and make
it more meaningful. The most memorable
one is when MVP, PLDT President and CEO
back then, attended our CSR program in
Payatas, Quezon City, a dumpsite area for
the poorest of the poor. He attended the
Holy Mass and took part in the PLDT Medical Mission and Feeding Program. To date,
he is the only President and CEO of a company to visit the area.
Francis A. Bautista
Gabay Guro Volunteer
M
when I was about 10 years old,
when my parents tagged me and my
siblings every time they visit Golden
Acres as part of an outreach program.
My mind was opened to the fact that
there were elderly people abandoned
by their respective families. Also, way
back in high school, we had exposure
trips and had the chance to visit the
victims of Mt. Pinatubo eruption, and
stayed with them for one whole day.
country is how to address poverty.
Through the programs of PLDT-Smart
Foundation, we support the initiatives of
the government in education as the key
tool in poverty alleviation.
is that we have to be humble in serving
others -- no matter what your stature
is in the company or society. You also
have to be dedicated as service for
others involves a huge amount of
commitment.
For me, the most relevant role
of CSR is giving hope to people and
making them feel that somebody cares
for them.
My hero in doing charity work, not
necessary in the context of CSR, is
St. Francis of Assisi. For me, he is the
epitome of acts of charity and living the
life of simplicity.
We are touching lives by showing
our dedication and passion in doing
CSR work, and that we are not being
paid to do such. Seeing that we are
able to help and can see smiles on
their faces, these, I think, is priceless…
Actually for me, in helping other people,
they are touching my life.
A memorable experience for
me was in September 26, 2009
(my birthday), when Typhoon Ondoy
hit Metro Manila. I was stranded in
PLDT Mandaluyong office and can’t go
home because the roads going to our
house in Pasig are still not passable.
On September 28, 2009, despite the
fact that I have no clothes and other
basic necessities, I still decided to fly to
Dumaguete and push through with the
scheduled Gabay Guro trainings. Not to
mention that I was feeling sick and later
on, diagnosed with Hepatitis.
Deng Kibanoff
VP-Training and Career PLDT and Head of Training Pillar-2G Program
M
when I became a licensed teacher and topped the LET in April 2008.
That time I realized that as a licensed
teacher working in a professional training organization, there is much I can do
personally to share my knowledge of
teaching with our country’s teachers.
Gabay Guro gave me that opportunity.
country is upgrading the quality of education in the Philippines and helping our
teachers and through PLDT, we can do
a lot to uplift the quality of our teachers
and improve their condition in society.
is that serving others is a privilege that
holds the highest form of reward in
one’s heart.
CSR is empowering people to believe in
themselves and in providing people avenues for real and lasting change.
My CSR heroes are Dr. Cris and
10 / annual report 2012
Dr. Marivic Bernido because being
teachers like me, they embody selfless
dedication to helping Filipino teachers
and students to become the best that
they can be.
We are touching lives by touching
teachers’ hearts -- to find true meaning
in their important role in nation-building.
One of the most touching moments in my Gabay-Guro teaching experience was when one of the graduates of the Teachers’ Treasure Chest
Course (the course I was teaching)
gave me a small handwritten note at
the end of the course. In it was written
“Thank you very much for this seminar, sir. I was about to decide to leave
the teaching profession given all its
frustrations and challenges, but now
I’d like to go on with my calling.”
Another was when we were conducting the same course in Roxas, Palawan in a big gym when just outside
the venue, NPA rebels and police had a
shootout. Since I was busy conducting
the course, I was unaware of what was
happening outside. I only learned of the
incident during the morning break when
a colleague told me. Thus, we had to
cut the training short and travel back to
Puerto Princesa by van fearing where
the next encounter may be. Well, that’s
all in a day’s work for the Gabay Guro
Training team. We did not stop the program just because of that incident. We
just considered that experience as one of
the surprises and spices of our CSR life.
Rose E. Gutierrez
2G Director for External Affairs
M
when I volunteered my services
to the 2G Core Team because 1) I
have great respect for the teaching
profession 2) to fulfill my personal
mission of trying to be a blessing to
others – in my own humble way.
country is fighting corruption and
deviating funds to pockets of people in
power more than allocating sufficient
and rightful budget to deserving less
fortunate sectors of society; and
through PLDT, we can do our share of
filling the gap between the mighty rich
and the deserving sectors of society.
is to first value the blessings that
God has abundantly provided us and
sharing it with those who are truly
under privileged.
For me, the most relevant
role of CSR is to reach out to as
many marginalized individuals or
organizations in the country and
providing selfless time and effort to
achieve the objective of a given project.
My CSR hero is Bill Gates
because he has put up huge hightech laboratory where specialists are
working to find cure for major illnesses
for the benefit of the whole world.
We are touching lives by simply
being a blessing to others everyday of
our lives.
During one of our training sessions
for teachers, a participant cried her
heart out to us out of great happiness
since it was an event in so many years
where the nobleness of her teaching
profession was emphasized. This was
after we have declared that there
would be no successful presidents or
vice presidents or doctors or lawyers
WITHOUT their teachers to hone
their skills. For years, she kept on
thinking that “teacher LANG siya”._
The teacher even shared her story
of having to walk miles to reach her
impoverished school.
Melanie A. Manuel
AVP & Head, Carrier Settlements & Business Information Management
(PLDT, SMART & SUN/DIGITEL)
Chairperson, Gabay Guro Scholarship Committee
M
in 2007 when I was President
of PLDT Managers’ Club, Inc. (MCI).
Ms. Chaye Cabal, FVP & Head, Financial Planning and Control, invited me
and a few other friends from MCI,
blessed as we are, to think of a way
of how we can best “give back”. Over
a cup of coffee, Gabay Guro was born,
and the rest is history.
country is poverty alleviation; and
with Gabay Guro and PSF, we can
undertake programs geared towards
poverty alleviation through education.
is no help is too small to make a difference.
of CSR is to make a difference in other people’s lives, and help them to be
self-sufficient so they can contribute
in nation-building.
My CSR hero is MVP because of
the support he is giving to education,
sports and many other programs
that benefit the youth – the future of
our country.
We are touching lives by helping
with a heart.
As Chairperson of Scholarship
Committee, it is my job to screen
applicants. It is not uncommon to
find myself teary-eyed while reading
the stories of students. But there
was one scholar that will forever be
etched in my memory.
On her first year, her family
was struck by tragedy, that she almost gave up on her studies as she
couldn’t make the grade. Gabay Guro
gave her a second chance.
When she graduated, she gave
me a hug so tight that I felt the enormous gratitude in her heart. I just
felt that the expression of gratitude
was way greater than the help we
have given her.
Indeed “no help is too small to
make a difference.” Her story and
that of many other Gabay Guro scholars will be my inspiration to continue
“touching and changing lives” in my
own little way.
11
Gil Garcia
Gabay Guro Team Member
M
very early as I have seen how my
parents were always helping others,
even extending help even when we
don’t have that much. So when I
started to work at PLDT, I thought that
Gabay Guro was just an extension of
my work. Then I realized that this is
the best way to reach out. I can’t do
everything myself, but with a group of
people who are passionate to help and
passionate to teach, we can make a
difference. It is a dream come true to
help others!
country is how to fight poverty since a
lot of what’s wrong in our society can
be connected to this.
is that we must be thankful. I have seen
how the lives of teachers have been
touched by our Gabay Guro programs
and they are always thankful that we
reached out to them. In return, they
also have touched our lives.
CSR is that it can change the lives of a
lot of people. During our recent event
at SM MOA Arena, some teachers
were even crying out of joy that there
was an event to make them happy,
even for a day.
My CSR hero is my anyone who
extends help with a pure heart and a
genuine smile.
A memorable experience for me
in doing CSR work is when a teacher
wrote on a piece of leaf her ‘thank you
to 2G’ since she had no pencil and
paper to write on at that time. She
carved those words on the leaf and
gave it to us. I was so touched by her
gesture. Later on, I learned that it
was her first time to undergo a
teacher training, even though she
was about to retire. She thanked us
since she felt touched by the efforts
of the Gabay Guro
team to reach
out and pay
tribute
to
tireless
teachers
like her.
Jojo Ibay
Gabay Guro Team Member
M
y journey to CSR work started when I was assigned to find
a teacher with an extraordinary story
and passion for her students. I found
one in Leyte, which was also my home
province, and I was so moved by her
story... how she had to drive a motorcycle on her own for 17 kilometers of dirt
road just to teach kids. She even has to
share whatever she has so the kids can
eat and have basic necessities. That encouraged me to volunteer passionately
for Gabay Guro.
country is poverty that’s why every single thing that we do to help even one
person will go a long way.
is that amidst all our problems, we are
still very lucky. We are blessed that we
have stability in our jobs, we have family
and friends to rely on, that we can have
meals 3 times a day. We should realize
that and be thankful.
CSR is about sharing of blessings.
doing CSR work is when I got to know
the teacher in Leyte. She even sacrificed her own convenience and time
just to reach out to kids in very poor
communities. I will also remember the
graduation of our 2G scholars. We are
very moved seeing some of them graduate at the top of their class and they
always say that it was not possible without the help of Gabay Guro.
Karen Claire M. Ulmer
Head – Marketing, PLDT Global
M
y journey to CSR work started when I was with PLDT Home
when we launched PLDT KaAsenso, a
new revenue stream and advocacy to
educate micro entrepreneurs. It continued when I moved to PLDT Global. The
thought of advocacy still persisted as we
work with the Overseas Filipino market. I
had a better grasp of the struggles and
plight of our fellow men abroad and how
the combined products and services of
the PLDT group aid the Filipinos to be
closer to home.
country is education. Through PLDT,
we can do more programs that will
slowly change the face of education. Our
advocacies in the various sectors such
as OFWs and through PLDT Global, CSR
programs like Hakbang Kababayan, Micro businesses of Project Pagsulong
Ma. Christine Reyes
Project Director
M
when I realized that the business
sector had the heart and the means to
get involved in helping the economically
disadvantaged sectors of our society.
country is economic inequity; and
through PLDT/ Smart, we are addressing this by designing and implementing
projects that address the three bottomlines: sustainability through livelihood,
Jonathan De Quiroz
Head/Product Manager – PLDT
KaAsenso
M
y journey to CSR
work started when
we started PLDT KaAsenso in 2010 – a brand
that does not just offer
commercial
services,
but more importantly,
creates and implements microbusiness-empowering
by KaAsenso, among others, will help
enrich the lives of our fellowmen. We
educate our community and our immediate stakeholders. We take out the
dependency on other people and teach
self-reliance, sustainable growth and
transcendence so that our effort to
make a difference ripples to other people and hopefully infect a nation.
is that change takes time and patience.
One may not realize it but one small act
can make a change…one act that affect
one person will ripple the effect to others.
of CSR is changing and reshaping the
lives of the community and hopefully
the nation in which we live in to become
better-- physically, emotionally and spiritually.
We are touching lives by connecting, understanding, educating and
eventually
reshaping
the community and the
people that we serve.
My everyday work is a
constant reminder
of how we support our fellow
Filipinos
in
HK, whenever we help
the PLDT HK
team in producing the Smart and
Pinoy Publication and
whenever we do the fulfillment of Wishupon-a-smart. CSR work for PLDT Global is memorable because we do it everyday in collaboration with our PLDT HK
team. Setting up the PLDT KaAsenso
was also a memorable experience for
me, as it felt like we are in a way starting
a social entrepreneurship kind of business model. I am happy to see how it
has evolved in the past years.
leadership and capacity building (social)
and environment restoration.
is creating the opportunity to link business with disadvantaged communities
as partners in addressing social and
economic inequities and environmental
challenges.
of CSR is the shared governance and
ownership of business, communities
and government in addressing local
and national challenges that cannot be
addressed by any
of the three on its
own.
We
are
touching lives by
using our corporate strengths to
help communities
overcome
their
weaknesses.
It is heartening to see community members blossom and grow and confidently lead volunteers in forest restoration activities.
programs.
country is information management–
we seem to think that there’s simply
too much demand, but looking closely,
there’s actually a lot of supply too – we
just have to properly match the two;
and through PLDT, we can do initiatives
to help address this. We can create
strong connections to bridge the gap
between the two.
is everyone is a stakeholder and the
most successful CSR model is one
where everyone benefits and is enabled.
CSR is to empower in the most sustainable, relevant and efficient manner. In a
constantly changing world, it is critical to
always imbibe these three things.
My CSR hero is MVP because he
perfectly embodies “people will never
care how much you know (or have), until
you let them know how much you care.”
We are touching lives by connecting people.
doing CSR work is working with the future social entrepreneurs of this nation.
13
Seated from left: Manuel V. Pangilinan, Chairman; June Cheryl A. Cabal-Revilla,
Treasurer; Ma. Esther O. Santos, President; Anabelle L. Chua, Trustee. Standing,
from left: Napoleon L. Nazareno, Trustee; Atty. Rene Banez, Trustee; Menardo G.
Jimenez, Jr., Trustee; Ray C. Espinosa, Trustee; and Ramon R. Isberto, Trustee.
PLDT-SMART
FOUNDATION, INC.
Board of
Trustees
Chairman
President
Napoleon L. Nazareno
Trustee
Atty. Rene G. Bañez
Trustee
Ma. Victoria A.
Rufino-Buenaventura
Trustee
Anabelle L. Chua
Trustee
Ray C. Espinosa
Trustee
Ramon R. Isberto
Trustee
Menardo G. Jimenez, Jr.
Trustee
Atty. Ma. Lourdes C. Rausa-Chan
Corporate Secretary
Officers
June Cheryl A. Cabal-Revilla
Treasurer
Julie C. Carceller
Project Manager,
Events & Marketing
Rafael C. Lopa
Project Manager,
Community Development
Jun R. Florencio
Internal Auditor
changing lives
Uplifting the quality of life of each and every Filipino
T
he PLDT-Smart Foundation (PSF) is a non-stock, non-profit organization
that serves as the social outreach arm of the country’s oldest and
largest telecommunications conglomerate, the Philippine Long Distance
Telephone Company (PLDT). In its pursuit for social, political, and economic
development, it provides helpful communications tools and various avenues
for progress and empowerment through partnerships and tie-ups with
non-government organizations, people’s organizations and cooperatives
throughout the Philippines.
Formerly named PLDT Foundation when it
was incorporated in August 1994, the PSF
is now stronger and more active, leveraging
on the strengths of PLDT and its wireless
subsidiary, Smart Communications, Inc.
since February 2007. With the PLDT group’s
state-of-the-art technologies and extensive
reach nationwide, the PSF is maximizing the
services, facilities and infrastructure of the
companies to be able to give back to the
community.
Today, the PSF is the expanded version of the
former organization, with efforts consolidated
and aligned to create a bigger impact in
dealing with corporate social responsibility,
yielding better and more significant results in
connecting people and resources.
Headed by PLDT and Smart Chairman
Manuel V. Pangilinan, the PSF is now mainly
involved with corporate social responsibility
programs focusing on various areas such as
education, community development, sports and the
environment. All these endeavors are committed to
one singular goal – that of fulfilling the needs and
uplifting the quality of life of each and every Filipino.
Vision
“A connected, enlightened and productive
Philippines.”
Mission
1. To provide help and support to those who need it in our areas of strength and competency.
2. To facilitate the empowerment of the Filipino people through the utilization of information and
communications technology.
3. To extend products and services to people, reaching out above all to those who cannot afford it.
4. To focus on growth in seven key areas: livelihood and microfinance, education, disaster preparedness,
youth, poverty alleviation, sports, and the arts.
5. To provide an efficient, cost-effective medium for multi-sectoral coordination and communications.
17
Gabay-Guro: Changing the lives
of those who changed ours
Gabay Guro or 2G is one of the flagship projects of the PLDT-Smart Foundation
and supported by the PLDT Managers’ Club Inc. that aims to enhance
education in the country through scholarship grants and English proficiency
and computer literacy training programs for teachers. It also aims to help
teachers augment their income through livelihood projects. By helping mold
excellent teachers, 2G hopes to spread the gift of learning to many more
students in the country and thereby help in nation-building.
2G’s core programs are anchored on 6 pillars: 1) educational grants, 2)
continuous teachers’ training, 3) teachers tribute, 4) livelihood programs, 5)
broadbanding public schools [we also provide new computers on a case to
case basis], and 6) housing and educational facilities.
Total scholarship grants increased year per year, totalling 705 scholars for
School Year 2013 and garnering 164 graduates.
In 2012, “Simpleng Handog”, a testimonial dinner for its 2nd batch of
scholar-graduates, was graced by no less than PLDT Chairman Manuel V.
Pangilinan and PLDT President & CEO Napoleon L. Nazareno. Adding glitter
to the occasion was the moving force behind 2G- PLDT Controller and 2G
Program Chairperson Chaye A. Cabal-Revilla, along with PSF President Esther
O. Santos and the 2G Volunteers from PLDT Managers Club, Inc (MCI).
“Simpleng Handog” bestowed recognition to 2G scholar graduates for their
exemplary performances in completing their education, preparing them
for their big role in nation building as educators. This year’s batch consists
of 38 graduates from six partner schools. The graduates were led by Joe
Anthony Basco of PNU Quezon who graduated BEED (Bachelor of Elementary
EDucation)- magna cum laude and a recipient of 4 other excellence awards.
Another 12 scholars graduated cum laude while several others achieved special
excellence awards from their respective schools. Each of the honor graduates
and special awardees received cash incentives from Gabay Guro/PSF. 2G has
by far produced 1 magna cum laude, 19 cum laudibus and a number of special
achievement awardees from the 67 graduates of Batches 2010, 2011 and
2012.
19
Teacher’s Training is likewise an ongoing endeavor. Gabay Guro’s Training
Team offers various training modules. Among others are English Proficiency
Training, Computer Enrichment Program, and the Teachers Treasure Chest
Training, aims to rekindle the passion to teach. In the past year, 8,311
teachers benefited from these various trainings.
Another Gabay Guro’s projects is Computerization and Broadbanding of
schools to further education with the help of technology. Even remote
campuses deserve a chance to learn with them. Gabay Guro gave away
SmartBro dongle units to as far as Lyceum de Camiguin, Babuyan Islands to
provide them connectivity and access to internet. Gabay Guro also donated
brand new computers and a computer laboratory to various schools across
the country.
The wellbeing of every teacher is taken into account. That’s why training
programs usually come with livelihood seminars that update our educators
on options available to them. This includes a housing project in Daet that
Gabay Guro is carrying out in coordination with the Department of Education’s
Project Shelter. A total of 150 teachers are meant to benefit from that
housing project while new housing sites are currently on the shortlist for the
following cycle. On September 2012, Gabay Guro donated 4 classrooms to
public schools in Cordova, Cebu.
Last but not the least, a deep appreciation for teachers and their contribution
to nation building is underlined by Teacher Tributes that have become an
integral part to Gabay Guro. It comes in the form of Tribute Cards, of which
over 10,000 have been distributed to give teachers access to discounts from
several Gabay Guro partners.
Teacher’s Tribute Card. The Gabay Guro Tribute Card is
a special way of giving back to teachers the love and support
they truly deserve. It is packed with freebies, perks and
discounts that teachers can benefit from greatly, through
partnerships with SMEs and corporate establishments.
Teachers can avail of the Gabay Guro Tribute Card by simply
participating in any Gabay Guro activity in their areas and
apply onsite or apply online. Just present the card to partner
commercial establishments of the PLDT-Smart Foundation to
avail of privileges. Ever since the Tribute Card was launched,
more than 10,000 teachers have received this gift.
In 2012, the revelry was an entire Teachers Week Celebration that included
trainings, experience to be studio audience, and dinner with PLDT Chairman,
Mr. Manny V. Pangilinan. And as a matter of tradition, the culminating activity
to give tribute to teachers during week is the Gabay Guro Grand Gathering held
at the SM MOA Arena. The event was the biggest ever! Over 15,000 teachers
had fun and were entertained by the country’s top artists and singers.
The biggest surprise of the event was felt by Sarah Jane Gabat, a Grade 2
teacher from Cemembo Elementary School when she won a house and lot
courtesy of Camella Homes.
More than 13,000 teachers filled up the SM MOA Arena
last October 28, 2012 for the Gabay Guro Grand Gathering
2012. Teachers from various schools, towns, provinces
attended the yearly event.
Chaye Cabal-Revilla was joined by Mr. Charles Lim of Smart
and Sun Cellular, and Mr. Ariel Fermin of PLDT Home.
Teachers are having fun as they participate in
various song and dance number during the Gabay
Guro Grand Gathering 2012.
Mrs. Cynthia Villar of Vista Land awards the symbolic key
to the brand new house and lot to lucky winner, Sarah Jane
Gabat of Comembo Elementary School, Makati City.
Photo op with the Gabay Guro volunteers and house & lot
winner, Sarah Jane Gabat. Joined by Ms. Nora Aunor and
Mrs. Cynthia Villar.
21
An Innovative Bootcamp for Project Pagsulong
P
roject Pagsulong is a P1 million youth challenge to help alleviate poverty
-- inviting young Filipinos (18 to 30 years old) to form a team (with 3 to
5 members) and come up with innovative business ideas good enough to
stand against proposals from other teams, as well as viable enough to provide
real-life solutions for alleviating poverty.
It’s a team project of a lifetime: with cash grants, and pre- and postproject coaching and mentoring from partner institutions and Ten
Outstanding Students of the Philippines (TOSP) alumni to see the
fruition of their ideas the right way.
In 2012, Project Pagsulong wrapped up its nine-day boot camp
on October 28 at the First Pacific Leadership Academy (FPLA)
in Antipolo City. Chosen by a panel of veteran entrepreneurs,
investors, and industry experts, the Top 10 Finalist Teams
were mentored by some of the local business leaders on
various facets of entrepreneurship, helping them improve and
concretize their social enterprise plans.
The boot camp, which kicked off last October 20 and finished
on October 28, was an intense, hands-on social entrepreneurial
session that taught the finalists the ins and outs of starting a
business and how social enterprise plays a role in nation-building.
The finalists, representing 10 teams from across the country,
spent their days listening to acclaimed entrepreneurs, business
leaders, and respected lecturers, who drilled them on developing
their business plans as part of the boot camp’s purpose to make
their ideas more feasible in the market.
Local successful entrepreneurs shared their entrepreneurial
journeys, which tremendously motivated the finalists. Among the talks
during the boot camp were: the role of social enterprise in nation-building
by ECHOStore founder Pacita Juan, setting the entrepreneurial
mindset by GoNegosyo executive director Ramon Lopez, the Binalot
story by Binalot Fiesta Foods president Rommel Juan, the Human
Nature story by Gandang Kalikasan, Inc., co-founder and president Anna
Meloto-Wilk, sustaining social enterprise by Marina Gana Vida co-founder Jonah
Nobleza, leveraging ICT in social enterprise by IdeaSpace Foundation co-founder
YOUTH SOCIAL ENTREPRENEURSHIP
In partnership with:
and president Earl Valencia, and bringing together “social”
and “enterprise” in social enterprise by Asia Social Enterprise
Incubator co-founder John Paul Malgazo.
Other speakers present during the boot camp were Professors
Nestor Raneses and Debbie Wong from University of the
Philippines Diliman, Dr. Ryan Guinaran from Doctors for
Indigenous Health, and Clint Navales from Procter & Gamble
Philippines.
Apart from the talks throughout the week, the participants went through several
formation sessions where they were given background on social enterprise
and nation building; underwent skills workshop to clarify and deepen their
understanding of the process from ideation to application; and prepared action
plans in order for participants to focus their ideas and decide which steps to take
to achieve their goals.
Project Pagsulong, supported by PLDT KaAsenso, PLDT-Smart Foundation, The
Outstanding Students of the Philippines-Alumni Community (TOSP-AC), RFM
Foundation, IdeaSpace Foundation, GoNegosyo, and Draftfcb Manila, culminates
in March 2013.
23
Boosting the Dynamic
Learning Program
T
he PLDT-Smart Foundation, in partnership with
Smart Communications, Inc., has rolled out
simultaneous half-day orientation seminars in
various schools in Luzon, Visayas, and Mindanao. The
orientation seminar would encourage participants to
adapt the Dynamic Learning Program (DLP),
which was first implemented at the Central
Visayan Institute Foundation (CVIF) in Jagna,
Bohol by doctors Christopher Bernido and his
wife Ma. Victoria to develop potential of the
school children.
This learning method is characterized by activity-based multi-domain
learning, parallel classes, in-classroom protocols for sustained/independent learning, and strategic
This was followed by one-day writeshops,
as well as simultaneous three-day Learning
Physics as One Nation (LPON) seminars. All
these were done in order to help Filipino
students become globally competitive.
Being staunch advocates for education, PSF
and Smart have committed to help the Bernido couple, 2010 Ramon Magsaysay awardees
and theoretical physicists, spread the good
news about the DLP.
“We are supporting the DLP because we believe in the
program and the commitment of the Bernido couple to
uplift the quality of education in our country,” said Ma.
Esther O. Santos, PSF President. “We are proud to become part of this noteworthy initiative. This is the kind of
investment that would give good returns.”
“We’ve been thinking how to help a child reach his full
potential. For our country to be productive in the 21st
century, we must have an army of engineers and scientists. We must improve our educational system,” said
Dr. Christopher Bernido.
First implemented in CVIF, which is owned by Dr. Christopher Bernido’s mother, the DLP is now being used
as a teaching method in 200 public and private high
schools in the provinces of Bohol and Basilan as well as
the cities of Cagayan de Oro and Lamitan across all subjects, and in over 600 schools for Physics that is meant
to address the chronic shortage of teachers proficient
in that subject.
rest. Using the prescribed curriculum of the Department of Education, a high school student develops his
or her fullest potential even without any homework, with
academic days only four times a week and an equivalent
to only one period a week contact time with the teacher.
In the short time that it was implemented, the students
who underwent DLP showed the following results: Increase of passers of the UP College Admissions Test
and other entrance exams of colleges and universities,
and DepEd annual standardized exams; Greater accountability of and cooperation among teachers, and
the developed responsibility and discipline among students.
It is likewise noteworthy that despite Typhoon Sendong’s
ravaging of schools in the program’s pilot implementation in CDO City, the students still got a highly significant
learning gain in all three subjects (Science, English and
Math) in all year levels, based on the testing conducted
by the Center for Educational Measurement.
MVP Academic Excellence Awards for 256 Scholars
Employees of PLDT and Smart stood as proud parents at the 2012
MVP Academic Excellence Awards (MVPAEA). An annual endeavor
of the PLDT-Smart Foundation, the MVPAEA rewards hardworking
parents and their outstanding kids with an educational grant. The
grant gives a significant contribution for tuition and academic
expenses for elementary, high school and college students.
“This is one of the events we look forward to in PSF as it is a family
celebration as well as a nation-building program,” said PLDT-Smart
Foundation President Ma. Esther O. Santos. “We reflect the stand
of our Chairman MVP and our Board of Trustees who have always
placed great importance on getting a good education and hard
work.”
“This is the 8th year that PSF has maintained this educational
grant to children of our employees and we intend to continue this
program to serve you, the children of our employees. It reflects
our commitment to education in this country and of course it is a
way of helping the children of our employees to reach the level of
excellence they should be striving for to become useful citizens of
this country,” said PLDT Chairman Manuel V. Pangilinan.
PSF supports PNP dependents
with scholarship grants
Another set of qualified scholars received grants
from the PSF Educational Assistance Program
that provides college educational opportunities
to dependents of PNP uniformed personnel who
were killed in actual performance of duty, complete
disability, discharged, wounded or incapacitated
in their line of duty, and those dependents who
graduated with honors.
Through the PSF-PNP Educational Assistance
Program, PSF gives back to those who risk their
lives in the line of duty by aiding the children of heroic
policemen who were injured or killed in action.
Turning over P500,000 worth of scholarships,
PSF President Ma. Esther O. Santos, assisted by
PNP Chief Director General Nicanor A. Bartolome,
led the ceremonial turnover of cheques to 50
deserving dependents at the PNP General
Headquarters.
The PNP dependents with officials from PSF and PNP, which includes PSF President Ma. Esther O.
Santos, PNP Director General Nicanor A. Bartolome, PLDT ALPHA Corporate Relationship Business Government Head Anton Lim and Police Deputy Director General Emelito T. Sarmiento.
PSF has been providing scholarship grants to
PNP dependents in support of the PNP Integrated
Transformation Program. Since the educational
assistance started in 2008, the program has
helped 200 deserving students defray their
tuition fees and other school-related expenses.
25
reaching out
All Out Relief for
Habagat Victims
T
hree days after Habagat, PLDT
Chairman Manuel V. Pangilinan led
the companies under his stewardship to
the evacuation centers of his hometown
Pampanga. Supported by the PLDTSmart Foundation and the PLDT ComRel
Division, MVP personally helped in the
distribution of relief goods to the flood
victims.
MVP’s convoy along the North Luzon
Expressway included contingencies from
the PLDT Group, Manila North Tollways
Corporation, One Meralco Foundation,
Maynilad, Smart Gilas, ePLDT and TV5.
Even the basketball players of Smart
Gilas participated in the relief operation.
Members of the Smart Gilas Pilipinas
national basketball team took a break from their practice
to visit evacuation centers in San Fernando, Pampanga
where a number of families were affected by the Habagat
flood. The team led by team manager Butch Antonio and
coaches Chot Reyes and Jong Uichico handed relief bags
from PSF.
The support of PLDT employees, in kind and in cash,
was able to raise P650,000—a substantial amount that
allowed Project Sunrise, a campaign led by PSF Trustee
Butch Jimenez to reach 8,000 families in various floodstricken areas.
“Seeing the smiles and heartfelt thank you’s of the people
we helped during this difficult period strengthened
our resolve to continue our efforts. This would not be
possible without the generous support of our dear PLDT
employees, and for this, we are truly grateful,” said Ma.
Esther O. Santos, PSF President.
The Luzon Asset Protection Division (LAPD) also mobilized
their team to conduct rescue missions. Together with the
Bulacan CS Zone and ComRel, their reach extended even
to the most flooded areas.
Utilizing the learnings from their rescue training, the LAPD
brought rubber boats to Minalin, Pampanga, Balanga,
Bataan and Catmon, Bulacan. There, they helped distribute
thousands of relief goods, and aided in the rescue of PLDT
employees at the SFP Exchange office.
“Through the gallant efforts of the Bulacan CS Zone and
the LAPD, we were able to help 500 families in Apalit,
Pampanga, 510 families in Malolos, Bulacan and 500
families through the Asikasong Bongbong organization.
We are proud of every PLDT employee who helped out—
those who donated goods, and those who donated their
time, effort and heart in this significant mission,” said
Evelyn Del Rosario, PLDT ComRel Head.
PLDT SME Nation, together with the winners of the
Bossing Awards, also donated relief goods through the
help of PSF. Lamoiyan Corporation donated 200 dental
hygiene packs; Regal Films gave 2,232 canned goods;
HBC and Absolute water gave 50 and 10 cases of
drinking water, respectively; CDO donated 20 boxes of
canned goods; Go Negosyo and RFM gave 72 cases of
Aloe Green Tea; Silver Works gave 120 packs of relief
goods and two sacks of rice; R. Lapid’s donated 100
packs of relief goods; North Park had 16 boxes of relief
goods; Generics Pharmacy gave two boxes of medicines;
and Felix Ang donated P20,000 cash.
Through the continued efforts of ComRel and PSF, PLDT
will be able to provide assistance to flood victims even
after the waters have dried out. As people begin to rebuild
the homes they lost, it is important to let them know that
they have an ally who can truly help them change their
lives.
27
Forming ‘Tulong Kapatid’
T
ulong Kapatid is the consolidated CSR and disaster response of the MVP Group of
Companies. It is committed to help the communities such as Davao Oriental and
Compostela Valley which were extremely devastated by Typhoon Pablo in December
2012.
Manuel V. Pangilinan, Group Chairman, led the launch in November 2012. He said:
"Disasters do happen, and it is our responsibility to be prepared for them. Our
businesses have to be key players in any crisis or emergency because it is our duty to
the community to ensure that vital services -- communications, power, water, news,
hospitals, roads -- are maintained in the event of a disaster."
Tulong Kapatid is not just a publicity stunt for the group in times of disaster, but MVP
stressed that it is the spirit that demands the best from all of the people in worst times.
"In times of disaster and emergency, we need to come together like a band of
brothers. We need a seamless coordination under extreme conditions. This will
require cooperation from all of us," said MVP.
The first priority in times of disaster remains the restoration of operations and
facilities. "Our CSR groups and our foundations must reach out to the public and find
out who needs assistance," said MVP.
The first major activity of Tulong Kapatid was in December 10 when it sought to raise
P100 million for victims of Typhoon Pablo, coming together for a four-hour telethon
that kicked off on TV5, Radyo Singko, and Aksyon TV.
Officials of the MVP group, led by MVP himself, raised
public awareness as well as actual support for the
towns of Cateel and Boston in Davao Oriental and New
Bataan in Compostela Valley which had been devastated by Typhoon Pablo. More
than 90 percent of the towns' populations have been rendered homeless and without
access to clean water and more than one million families were affected by Typhoon
Pablo’s rains, floods, and winds.
In fact, even President Benigno Aquino III delivered a special message during the
telethon, encouraging every Filipino to help, in any way, the people of Mindanao.
"Malaki po ang maitutulong ng inyong inisyatiba upang maipadama sa ating mga
kababayan na hindi sila nag-iisa," he said.
In just six hours, Tulong Kapatid was able to raise P100 million for Pablo victims. It
will also support the construction of schools in Davao Oriental and Compostela Valley.
Tulong Kapatid also committed to support the construction of housing units through
a MOA signing with Davao Oriental Governor Corazon Malanyaon.
"The MVP Group of Companies is the first private sector to heed our call for help and
provide us with the much-needed assistance on housing. MVP's exemplary practice
of CSR upholds what it stands for in making a positive impact in our people's lives and
those of others," said Gov. Malanyaon. "It is our wish that our province would be the
showcase of the MVP magic."
As part of the post-disaster efforts under the auspices of Tulong Kapatid, Smart
distributed learning kits to elementary students from partner-schools in Davao
Oriental that were affected by Typhoon Pablo. They also endorsed to each of 15
schools two emergency kits and a LifeStraw Family water purifier.
Close to a hundred teachers from the schools also received teaching kits that
included manila papers, masking tapes, long plastic envelops, crayons, permanent
markers, bond papers, pens, protractors, rulers, lesson plans and ink for permanent
markers. Many of the schools’ facilities were damaged during the typhoon.
29
PSF at CSR Expo
An out-of-the-box education program
that features lots of intense classroom
work but no homework and no books.
A new flood monitoring program that
promises to rewrite the rules of disaster
preparedness. A program that allows a
patient in Mindanao to be operated on by
a specialist in Makati via mobile Internet.
These are just some of the CSR programs
of the PLDT Group showcased at the CSR
Expo 2012, emphasizing the convergence
of its services and resources to improve
the lives of Filipinos.
More than just bridging people, the PLDTSmart Foundation (PSF), together with PLDT and Smart
Communications, Inc. are committed to make use of information
and technology as tools to enable its partners towards nation
building via the various CSR initiatives in education, health,
environment, disaster preparedness, and livelihood.
The booth at the CSR Expo, which PSF shared with One
Meralco Foundation, had an artwork for a backdrop depicting
the group’s CSR efforts and scenes showing how the services
offered by the group connect and empower communities.
Those who visited the PSF booth at the SMX Convention
Center also had fun with the Spot MVP game where they
had to identify the many faces of PLDT chairman Manuel V.
Pangilinan in the artwork and got the chance to win prizes in
the raffle.
Tents donation
Huawei, a leading global information and
communications technology solutions provider,
supported the PLDT-Smart Foundation’s
disaster response efforts. Huawei donated
tents that will be given by PSF to disasterstriken communities and evacuation sites.
Indofood donation Indofood, one of the biggest food manufacturers in Indonesia, donated
goods to aid PSF's efforts during typhoon and disaster relief. Some of
the goods donated by Indofood included Promina for babies, and Pop
Mie instant noodles.
Supporting CineFilipino
CineFilipino, organized by the PLDT-Smart
Foundation, MediaQuest, Studio 5 and Unitel
Entertainment, launched its search for the next
great Filipino digital film by offering a production
grant of P1.5 million each to eight filmmakers.
“We are supporting CineFilipino since the MVP
Group believes that nation building can start by
appreciating what we have as a nation. Through this
festival, we are able to showcase the best of the new
wave of filmmakers,” said Ma. Esther O. Santos, PSF
President.
The fest’s feature-length section is open to both new
and seasoned filmmakers. On the other hand, the
festival’s shorts section is open to students where 10
short films will be chosen. CineFilipino will be held in
March of 2013 in various cinemas all over the metro.
3
People Saving the Future T-shirt Design Contest
PLDT and Smart employees submitted their best T-shirt
design in the “People Saving the Future” contest. The
winning entry became the official design of the PSF
Volunteer’s shirt for the International Volunteers Day
held last December 5.
After deliberations, the 1st place went to Cesar C.
Malabag of the PLDT South Luzon Core Network-Lipa.
The second place went to Rex O. Lazarte of the Smart
Technology Services Division, while third place went to
Ram M. Anciro of the PLDT Alpha Corporate Business.
2
1
event was headed by the
ComRel group of Evelyn del
Rosario together with other
PLDT employees. Being a
volunteer, I went to the mission even without personal
motives but to help others even in my own little way. ‘Di
po pala nararamdaman ang hirap at pagod kapag may
mga tao kang natutulungan at napapasaya...”
Cesar was very elated that his design was picked
from more than a hundred entries. In fact, it was very
appropriate that he took the top award as he is a good
example of what a volunteer should be. He shared this
story on how he became a volunteer even if it was not
related to his work.
Last November 1, 2012 was my 50th Birthday and I
want to make it extraordinary. Before, I used to celebrate
with overflowing food and drinks and videoke. But that
time, I made my Golden Birthday a simple one. I asked
the assistance from one of our Barangay Councilman
for the list of 35 low income families. I gave each family
a basket of goods which included rice, canned goods,
noodles, etc.
“I was inspired to join the T-shirt design contest because
it centers on ‘volunteerism’. I recalled the time when I
joined the PLDT Medical & Dental mission including a
tree planting which was held at Tingloy, Batangas. The
With the help of my family and friends, it was a success. I
felt good from helping others. Since we only came from a
humble background, I know the feeling of having nothing
and I now resolve to help others as long as I can.”
31
For birthing clinics
PLDT-Smart Foundation donated P2 million to the Kapampangan Development
Foundation (KDF) for the “Iligtas si Nanay Project”, an endeavor that supports
the construction of 12 satellite birthing clinics in Pampanga. Iligtas si Nanay
Project will enable local midwives to provide safe, proper and hygienic birthing
conditions to mothers. Photo shows PSF President Ma. Esther O. Santos (3rd
from left) turning over the check donation to KDF President Benigno Ricafort.
Others in photo are, from left: KDF Executive Director Sylvia Ordoñez and PSF
staff Madonna Hernandez.
Gift-giving
PSF provided gifts to our Aeta brothers and sisters
in coordination with the Tollways Management Corp.
Operation Casili
To reach their school, students have to cross a treacherous upstream
flow of the Wawa Dam in Rodriguez, Rizal. Through the efforts of Darwin
Flores of Smart/PDRF, the plight of the students and their teachers
garnered online and media attention. In 13 days, contributions poured
in from Darwin’s FB friends and corporate contacts: Life jackets for
teachers, slippers and school supplies for the children and toilet
bowls for the school were turned over by PLDT-Smart Foundation,
One Meralco Foundation and Smart for the benefit of the teachers,
students and parents of Casili Elementary School.
Aiding Rizal Medical Center
Members of the companies from the First Pacific
Group visited the Rizal Medical Center in Pasig City
together with some executives of the Metro Pacific.
PSF President Ma. Esther O. Santos led the turnover
of DVD players and assisted the top executives in
distributing gifts to patients and their family. The
event also coincided with the Makati Medical Center
Foundation’s launch of their program to provide
strategic and sustainable programs for its partner
public hospital.
Bahay Pag Asa Opens
Computers for Balulang School
PSF aided in the efforts to rehabilitate a
school in Cagayan de Oro City which was
damaged by Typhoon Sendong. The school
lost its entire computer laboratory due to
the calamity. Responding to this need,
PSF donated 10 brand-new computers
and funded the repair and renovation of
the lab.
The formal opening of Bahay
Pag-Asa in De La Salle Dasmarinas was attended by its
supporters led by former Chief
Justice Hilario Davide, Jr. It is
a facility established by the Lasallian Brothers to help rehabilitate children who are in conflict
with the law and will serve as a
center for them to learn and be
led to a brighter future.
Sending Cheer
On December 5, International Volunteer’s Day,
the MVP CSR Council held “Paskong Kapatid”,
a program which gathered 200 kids from
various partner communities of the companies
under the First Pacific Group.
In the morning, the kids from Casili
Elementary School were given a free tour of
the Manila Ocean Park sponsored by Smart
Communications Public Affairs Group. Jollibee
Foundation sponsored the kids’ lunch at SM
Mall of Asia, where in the afternoon, PSF also
treated them to a visit to the Nido Science
Discovery Center together with the kids from
Catmon Elementary School.
Late in the afternoon, employee-volunteers
from the different companies of the First Pacific
Group converged at the Meralco Compound
to give the kids an afternoon of storytelling by
Batibot artists, face painting, picture taking
with Kiko Meralco, Batibot mascots, and Santa
Claus. After the ceremonial lighting of the
Liwanag Park, the kids went to ride and have picture taking on the
train and e-jeepneys. The event was made more special as top
executives and Board Members from First Pacific participated in
the gift-giving event.
As a continuation of “Paskong Kapatid”, PSF, PLDT Community
Relations, and the Philex Group Foundation, Inc. also sent early
Christmas cheer to almost 2,000 students in Benguet.
Audio-visual materials, books, and other school supplies were
distributed to the students of Philex Mines Elementary School and
other schools in remote areas, including Sitios Piminggan and
Sioco-Carino, both Tuba’s Brgy. Ansagan, and in Brgy. Ampucao,
Itogon.
“This educational outreach activity is a big help to our students
who brave walking for hours just to get to school and learn,” said
Sioco-Carino head teacher and cluster head Mildred Marquez.
33
STATEMENT OF MANAGEMENT’S RESPONSIBILITY
FOR FINANCIAL STATEMENTS
The management of PLDT-Smart Foundation, Inc. (“the Foundation”) is responsible for
the preparation and fair presentation of the Foundation’s financial statements for the years
ended December 31, 2012 and 2011 in accordance with Philippine Financial Reporting
Standards. This responsibility includes designing and implementing internal controls
relevant to the preparation and fair presentation of the Foundation’s financial statements that
are free from material misstatement, whether due to fraud or error, selecting and applying
appropriate accounting policies, and making accounting estimates that are reasonable in the
circumstances.
The Board of Trustees reviews our financial statements before these are approved and issued.
SyCip Gorres Velayo & Co., the independent auditors appointed by our Board of Trustees,
has audited the financial statements of the Foundation in accordance with Philippine
Standards on Auditing and has expressed their opinion on the fairness of presentation
upon completion of such audit in their report to the Foundation’s Board of Trustees dated
April 4, 2013.
June Cheryl A. Cabal-Revilla
Chairman of the Board
President & Chief Executive Officer
Treasurer
INDEPENDENT AUDITOR’S REPORT
The Board of Trustees
PLDT-Smart Foundation, Inc.
SyCip Gorres Velayo & Co.
6760 Ayala Avenue
1226 Makati City
Philippines
Phone: (632) 891 0307
Fax:
(632) 819 0872
www.sgv.com.ph
BOA/PRC Reg. No. 0001
December 28, 2012, valid until December 31, 2015
SEC Accreditations No. 0012-FR-3 (Group A)
November 15, 2012 valid until November 16, 2015
Report on the Financial Statements
We have audited the accompanying financial statements of PLDT-Smart Foundation, Inc. (a private nonstock, nonprofit corporation), which comprise
the statements of assets, liabilities and fund balance as at December 31, 2012 and 2011, and the statements of income and fund balance and statements
of cash flows for the years then ended, and a summary of significant accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with Philippine Financial Reporting
Standard for Small and Medium-sized Entities, and for such internal control as management determines is necessary to enable the preparation of
financial statements that are free from material misstatement, whether due to fraud or error.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with Philippine
Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due
to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation
of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements present fairly, in all material respects, the assets, liabilities and fund balance of PLDT-Smart Foundation, Inc.
as at December 31, 2012 and 2011, and its financial performance and its cash flows for the years then ended in accordance with Philippine Financial
Reporting Standard for Small and Medium-sized Entities.
Report on the Supplementary Information Required Under Revenue Regulations Nos. 19-2011 and 15-2010
Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplementary information
required under Revenue Regulations Nos. 19-2011 and 15-2010 in Note 11 to the financial statements is presented for purposes of filing with the
Bureau of Internal Revenue and is not a required part of the basic financial statements. Such information is the responsibility of the management of
PLDT-Smart Foundation, Inc. The information has been subjected to the auditing procedures applied in our audit of the basic financial statements.
In our opinion, the information is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.
SYCIP GORRES VELAYO & CO.
Marydith C. Miguel
Partner
CPA Certificate No. 65556
SEC Accreditation No. 0087-AR-3 (Group A),
January 18, 2013, valid until January 17, 2016
Tax Identification No. 102-092-270
BIR Accreditation No. 08-001998-55-2012,
April 11, 2012, valid until April 10, 2015
PTR No. 3670001, January 2, 2013, Makati City
April 4, 2013
35
STATEMENTS OF ASSETS, LIABILITIES AND FUND BALANCE
PLDT-SMART FOUNDATION, INC.
(A Private Nonstock, Nonprofit Corporation)
STATEMENTS OF ASSETS, LIABILITIES AND FUND BALANCE
2012
December 31
2011
P
=182,657,739
2,557,328
185,215,067
=
P87,533,200
2,000,000
89,533,200
–
100,000,000
24,367
–
100,024,367
199,950
–
–
100,000,000
100,199,950
P
=285,239,434
=
P189,733,150
Current Liabilities
Accounts payable and other current liabilities (Note 8)
Due to related parties (Note 9)
Total Current Liabilities
P
=22,855,344
100,539,285
123,394,629
=
P9,447,993
100,398,890
109,846,883
Fund Balance
161,844,805
79,886,267
P
=285,239,434
=
P189,733,150
ASSETS
Current Assets
Cash and cash equivalents (Note 4)
Receivables (Notes 3, 5 and 9)
Total Current Assets
Noncurrent Assets
Available-for-sale investment (Notes 3 and 6)
Investment in an associate (Notes 7 and 9)
Property and equipment – net
Deposit for future stock subscription (Notes 7 and 9)
Total Noncurrent Assets
Total Assets
LIABILITIES AND FUND BALANCE
Total Liabilities and Fund Balance
See accompanying Notes to Financial Statements.
STATEMENTS OF INCOME AND FUND BALANCE
STATEMENTS OF INCOME AND FUND BALANCE
Years Ended December 31
2012
2011
INCOME
Donations (Notes 3 and 9)
Interest (Note 4)
Foreign exchange gains
Miscellaneous
P
=268,105,534
2,682,878
–
1,211
270,789,623
=
P150,252,932
943,766
2,333
12,260
151,211,291
179,670,387
3,374,560
1,299,550
1,189,403
571,591
87,774
5,421
1,433
2,094,390
188,294,509
140,511,196
2,311,760
1,350,500
1,097,369
98,062
11,961
–
–
1,763,356
147,144,204
82,495,114
4,067,087
536,576
188,753
EXCESS OF INCOME OVER EXPENSES
81,958,538
3,878,334
FUND BALANCE AT BEGINNING OF YEAR
79,886,267
76,007,933
P
=161,844,805
=
P79,886,267
EXPENSES
Donations (Note 10)
Compensation and employee benefits (Note 9)
Public relations
Professional and other contracted services
Communication, training and travel
Taxes and licenses
Foreign exchange losses
Depreciation
Others
EXCESS OF INCOME OVER EXPENSES BEFORE
FINAL TAXES
PROVISION FOR FINAL TAXES ON
INTEREST INCOME
FUND BALANCE AT END OF YEAR
37
STATEMENTS
OF CASH FLOWS
STATEMENTS OF CASH FLOWS
Years Ended December 31
2012
2011
CASH FLOWS FROM OPERATING ACTIVITIES
Excess of income over expenses before final taxes
Adjustments for:
Interest income (Note 4)
Depreciation
Foreign exchange losses (gains)
Excess of income over expenses before final taxes
and changes in operating assets and liabilities
Decrease (increase) in:
Due from related parties
Advances for liquidation
Available-for-sale investment
Increase (decrease) in:
Accounts payable and other current liabilities
Due to a related party
Net cash generated from operations
Final taxes withheld by banks
Net cash from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Payment for deposit for future stock subscription
Interest received (Note 4)
Additions to property and equipment
Net cash from (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITY
Cash advances from Smart
EFFECT OF FOREIGN EXCHANGE RATE CHANGES
ON CASH AND CASH EQUIVALENTS
P
=82,495,114
(2,682,878)
1,433
5,421
79,819,090
(285,700)
(271,628)
199,950
=
P4,067,087
(943,766)
–
(2,333)
3,120,988
102,000
1,550
–
13,407,351
140,395
93,009,458
(536,576)
92,472,882
4,956,095
(845,369)
7,335,264
(188,753)
7,146,511
–
2,682,878
(25,800)
2,657,078
(100,000,000)
943,766
–
(99,056,234)
–
(5,421)
100,000,000
2,333
NET INCREASE IN CASH AND CASH EQUIVALENTS
95,124,539
8,092,610
CASH AND CASH EQUIVALENTS AT BEGINNING
OF YEAR
87,533,200
79,440,590
P
=182,657,739
=
P87,533,200
CASH AND CASH EQUIVALENTS AT END OF YEAR
NOTES TO FINANCIAL STATEMENTS
1. Corporate Information
PLDT-Smart Foundation, Inc. (“the Foundation”) is a private nonstock, nonprofit corporation established
in the Philippines on September 6, 1994, to promote programs and projects that encourage and enable lowincome communities, particularly those organized as cooperatives or production units, to become active
agents of socio-economic growth. The Foundation is allowed, under its Articles of Incorporation, to invest
portions of its earnings and properties in shares of stock, bonds, time deposits, or such other projects as
deemed advisable or proper by its Board of Trustees to further carry out its objectives and purposes.
The Foundation is registered with the Bureau of Internal Revenue (BIR) as a donee institution in
accordance with the provisions of BIR-National Economic Development Authority Regulations No. 1-81
effective December 18, 1989 and is exempt from income tax under Section 30(e) of the National Internal
Revenue Code (NIRC) of 1997.
On June 8, 2006, the Foundation, which was duly accredited by the Philippine Council for
NGO Certification (PCNC), was registered with the BIR as a donee institution in accordance with the
provisions of Revenue Regulations (RR) No. 13-98 dated January 1, 1999. Donations received shall
entitle the donor to full or limited deduction pursuant to Section 34(H)(1) or (2) and exemption
from donor’s tax pursuant to Section 101(A)(3) of NIRC of 1997. The accreditation granted to the
Foundation was for three years from the date of issuance unless sooner revoked by the BIR for violation
of any provisions of RR No. 13-98, or upon withdrawal of the Certificate of Accreditation by PCNC. On
May 20, 2010, the Foundation renewed and was granted its accreditation with the PCNC for a term of
five years expiring on April 29, 2015.
The registered office address of the Foundation is 6th Floor, Ramon Cojuangco Building, Makati Avenue,
Makati City.
The Board of Trustees authorized the issuance of the financial statements of the Foundation on April 4,
2013.
2. Summary of Significant Accounting Policies
Basis of Preparation
The Foundation’s financial statements have been prepared on a historical cost basis and are presented in
Philippine peso, which is the Foundation’s functional and presentation currency.
Statement of Compliance
The financial statements of the Foundation have been prepared in accordance with the Philippine
Financial Reporting Standard for Small and Medium-sized Entities (PFRS for SMEs). The PFRS for
SMEs has been approved for adoption by the Philippine Financial Reporting Standards Council on
October 13, 2009 and by the SEC on December 3, 2009. The PFRS for SMEs is effective for annual
periods beginning on or after January 1, 2010 and is required to be used by entities that meet the definition
of an SME, which include among others, an entity with total assets of between 3 million and 350 million
or total liabilities of between 3 million and 250 million.
The PFRS for SMEs is a self-contained standard that is tailored for the needs and capabilities of smaller
businesses. Many of the principles in full PFRS for recognizing and measuring assets, liabilities, income
and expenses have been simplified, topics not relevant to SMEs have been omitted, and the number of
required disclosures has been significantly reduced.
39
Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and in banks and temporary cash investments with an
original maturity of three months or less. Cash in banks and temporary cash investments earn interest at
the respective bank deposit rates.
Receivables
Receivables comprise of donations committed or promised by related parties and advances on payment
of the Foundation’s expenses for liquidation. Receivables are recognized and carried at net realizable
value. An estimate for doubtful accounts is made when collection of the full amount of committed
amounts to the Foundation is no longer probable. Provision is made when there is objective evidence
that the Foundation will not be able to collect the committed amounts. Bad debts are written off when
identified.
Investment in an Associate
An associate is an entity which the Foundation has a significant influence but not control, generally
accompanying a stockholding of between 20% and 50% of the voting rights. Investment in an associate
is accounted for at cost less any accumulated impairment losses.
Dividend income from investment in an associate is recognized when the Foundation’s right to receive
payment has been established.
Financial Instruments
As allowed by PFRS for SMEs, the Foundation applies the recognition and measurement provisions of
PAS 39, Financial Instruments: Recognition and Measurement, and the disclosure requirements of Sections
11 and 12 of the PFRS for SMEs in accounting for its financial instruments.
Available-for-sale (AFS) investments are non-derivative assets designated as AFS or are not classified in
any other categories of financial assets. AFS investments are initially carried at fair value. After initial
measurement, AFS investments are measured at fair value with unrealized gains or losses recognized
as other comprehensive income in the AFS reserve until investment is derecognized, at which time the
cumulative gain or loss is recognized as miscellaneous income, or determined to be impaired, recognized
in the statements of income and fund balance.
AFS investments pertain to the Foundation’s investment in preferred shares of stock in Philippine Long
Distance Telephone Company (PLDT). These shares are unquoted, therefore, stated at cost.
Impairment of Non-Financial Assets – Investment in an Associate, Property and Equipment, Deposit
for Future Stock Subscription
The Foundation assesses at each reporting date whether there is an indication that an asset may be
impaired. If any such indication exists, or when annual impairment testing for an asset is required,
the Foundation makes an estimate of the asset’s recoverable amount. An asset’s recoverable amount
is the higher of an asset’s or cash-generating unit’s fair value less costs to sell and its value in use and
is determined for an individual asset, unless the asset does not generate cash inflows that are largely
independent of those from other assets or groups of assets. Where the carrying amount of an asset
exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable
amount. In assessing value in use, the estimated future cash flows are discounted to their present value
using a pre-tax discount rate that reflects current market assessments of the time value of money and the
risks specific to the asset. Impairment losses of continuing operations are recognized in the statement of
comprehensive income in those expense categories consistent with the function of the impaired asset.
An assessment is made at each reporting date as to whether there is any indication that previously
recognized impairment losses may no longer exist or may have decreased. If such indication exists, the
recoverable amount is estimated. A previously recognized impairment loss is reversed only if there has
been a change in the estimates used to determine the asset’s recoverable amount since the last impairment
loss was recognized. If that is the case the carrying amount of the asset is increased to its recoverable
amount. That increased amount cannot exceed the carrying amount that would have been determined,
net of depreciation and amortization, had no impairment loss been recognized for the asset in prior
years. Such reversal is recognized in the statement of comprehensive income unless the asset is carried
at revalued amount, in which case, the reversal is treated as a revaluation increase. After such reversal the
depreciation and amortization charge is adjusted in future periods to allocate the asset’s revised carrying
amount, less any residual value, on a systematic basis over its remaining useful life.
Deposit for Future Stock Subscription
Deposits for future stock subscription comprise of advances to a company which is in the process of
incorporation. Such are recognized upon outlay of funds or properties with the intention of investing to
shares of stock.
Accounts Payable and Other Current Liabilities
Accounts payable and other current liabilities are current obligations of the Foundation recognized in
the statements of assets, liabilities and fund balance when it is probable that an outflow of resources
embodying economic benefits will result from the settlement of a present obligation and the amount at
which the settlement will take place can be measured reliably.
Revenue Recognition
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the
Foundation and the amount of revenue can be reliably measured. The following specific recognition
criteria must also be met before revenue is recognized:
Donations. Revenues from donations are recognized when they are unconditionally received or promised
and measured at the amount of the consideration received or receivable.
Interest. Revenue is recognized as the interest accrues taking into account the effective yield on the asset.
Miscellaneous. Revenue is recognized when there is an incidental economic benefit, other than the usual
business operations, that will flow to the Foundation and that can be measured reliably.
Expenses
Expenses are recognized in the year incurred regardless of when payment is made. Donation expenditures
are recognized in the period the donation is approved, provided the donation is not subject to future
conditions. Donations that are subject to fulfillment of certain conditions are recognized as expense and
payable in the period in which the donee meets the terms of the conditions.
Final Taxes
Final taxes represent taxes withheld by the banks on cash deposits and temporary investments.
41
Contingencies
Contingent liabilities are not recognized in the Foundation’s financial statements. They are disclosed in
the notes to financial statements unless the possibility of an outflow of resources embodying economic
benefits is remote. Contingent assets are not recognized in the Foundation’s financial statements but are
disclosed in the notes to the financial statements when an inflow of economic benefits is probable.
Events After the End of Reporting Period
Post year-end events that provide additional information about the Foundation’s assets and liabilities at
financial reporting date (adjusting events) are reflected in the Foundation’s financial statements. Post
year-end events that are not adjusting events are disclosed in the notes to financial statements when
material.
3. Significant Accounting Judgments, Estimates and Assumptions
The preparation of the Foundation’s financial statements requires management to make judgments,
estimates and assumptions that affect the reported amounts of income, expenses, assets and liabilities
at the reporting date. However, uncertainties about these assumptions and estimates could result in
outcomes that could require a material adjustment to the carrying amount of the asset or liability affected
in future periods.
Revenue Recognition
Revenues from donations are recognized by the Foundation when they are unconditionally received or
promised and measured at the amount of the consideration received or receivable evidenced by a deed or
certificate of donation. Total donations revenues amounted to ₱268.1 million and ₱150.3 million for the
years ended December 31, 2012 and 2011, respectively.
Determination of Impairment of Receivables
The Foundation evaluates the need to maintain allowance for doubtful accounts at a level considered
adequate to provide for potential uncollectible receivables. The level of this allowance is evaluated by
management based on the results of the specific and collective assessment of impairment of financial
assets, considering the Foundation’s collection experience and other factors that affect the collectibility
of the accounts. These factors include, but are not limited to, the length of the Foundation’s relationship
with the donors and other counterparties, their payment behavior and known market factors. The amount
and timing of recorded expenses for any period would therefore differ depending on the judgments and
estimates made for each year.
The Foundation has due from related parties amounted to ₱2.3 million and ₱2.0 million as at December
31, 2012 and 2011, respectively (see Note 9 – Related Party Transactions). No impairment losses were
recognized in 2012 and 2011.
Determination of Impairment of AFS Financial Assets
Unquoted AFS financial assets are considered impaired when management believes that future cash flows
generated from the investment is expected to decline significantly. The Foundation’s management makes
significant estimates and assumptions on the future cash flows expected and the appropriate discount
rate to determine if impairment exists.
The carrying value of available-for-sale financial asset is nil and ₱0.2 million as at December 31, 2012 and
2011, respectively (see Note 6 – Available-for-Sale Investment).
--55--
-5NOTES TO FINANCIAL STATEMENTS
Thecarrying
carryingvalue
valueof
ofavailable-for-sale
available-for-salefinancial
financialasset
assetisisnil
niland
and=
P0.2
0.2million
millionas
asatatDecember
December31,
31,
The
P=
2012and
and2011,
2011,respectively
respectively(see
(seeNote
Note66––Available-for-Sale
Available-for-SaleInvestment).
Investment).
2012
The carrying value of available-for-sale financial asset is nil and =
P0.2 million as at December 31,
Impairment
of
Non-Financial
Assets
2012
and
2011,
respectively
(see
Note
6
–
Available-for-Sale
Investment).
Impairmentof
ofNon-Financial
Non-FinancialAssets
Assets
Impairment
TheThe
Foundation
onits
non-financial
assets
whenever
or changes
in
The
Foundationassesses
assessesimpairment
impairmenton
on
itsits
non-financial
assets
whenever
eventsevents
orchanges
changes
Foundation
assesses
impairment
non-financial
assets
whenever
events
or
inin
Impairment
ofindicate
Non-Financial
Assets
circumstances
thatthat
thethe
carrying
amount
ofofof
anan
asset
may
not
bebe
recoverable.
factors
circumstances
indicate
that
the
carrying
amount
an
asset
may
not
be
recoverable.The
The
factorsthat the
circumstances
indicate
carrying
amount
asset
may
not
recoverable.
The
factors
The
Foundation
assesses
impairment
oncould
itswhich
non-financial
assets
or changes
in
that
theFoundation
Foundation
considers
important
which
could
trigger
anwhenever
impairment
review
include
the
Foundation
considers
important
which
trigger
antrigger
impairment
reviewevents
include
the
following:
that
the
considers
important
could
an
impairment
review
include
the
circumstances
indicate
that
the
carrying
amount
of
an
asset
may
not
be
recoverable.
The
factors
following:
following:
that the Foundation considers important which could trigger an impairment review include the
• significant underperformance relative to expected historical or projected future operating
following:
significantunderperformance
underperformancerelative
relativetotoexpected
expectedhistorical
historicalor
orprojected
projectedfuture
futureoperating
operating
•• significant
results;
results;
results;
•• ••significant
changes
in the
manner
of of
use
ofexpected
the
acquired
assets
the
strategy
forfor
overall
business;
significant
underperformance
relative
historical
ororprojected
future
operating
significant
changes
the
manner
ofto
use
ofthe
the
acquired
assets
orthe
the
strategy
foroverall
overall
significant
changes
ininthe
manner
use
of
acquired
assets
or
strategy
results;
andbusiness;
business;and
and
significant
changes
inindustry
the manner
of use of trends.
the
acquired assets or the strategy for overall
•• ••significant
negative
industry
ororor
economics
significant
negative
industry
economics
trends.
significant negative
economics
trends.
business; and
• significant
negative
industry
or economics
trends.
Non-financial
assets
ofthe
the
Foundation
areasas
asfollows
follows
andno
noimpairment
impairmentloss
loss
was
recognized
Non-financial
assets
Foundation
are
follows
and
no
Non-financial
assets
of of
the
Foundation
are
and
impairment
losswas
wasrecognized
recognizedininin 2012
2012and
and2011:
2011:
2012
and
2011:
Non-financial
assets of the Foundation are as follows and no impairment loss was recognized in
2012 and 2011:
2012
2011
2012
2011
Investmentininan
anassociate
associate
Investment
Propertyand
andequipment
equipment––net
net
Property
Investment
infuture
an associate
Depositfor
for
future
stocksubscription
subscription
Deposit
stock
Property and equipment – net
Deposit for future stock subscription
=100,000,000
100,000,000
P
=P
2012
24,367
24,367
P
=100,000,000 ––
24,367
=100,024,367
100,024,367
P
=P
–
P
=100,024,367
P––
=
P=
2011 ––
=
P–
100,000,000
100,000,000
–
P100,000,000
100,000,000
=
P=
100,000,000
=
P100,000,000
4. Cash
Cash
and
Cash
Equivalents
Cash
Equivalents
4. 4.Cash
andand
Cash
Equivalents
4. Cash
Cash
Equivalents
Thisand
account
consists
of:
This
account
consists
of:
This account consists of:
2012
2011
2012
2011
P
=
117,713,489
=
P
63,158,258
P
=117,713,489
=
P63,158,258
2012
2011
64,944,250
24,374,942
64,944,250
24,374,942
P
=P
117,713,489
=
P
63,158,258
=182,657,739
182,657,739
P87,533,200
87,533,200
=P
=
P=
64,944,250
24,374,942
P
=182,657,739
=
P87,533,200
Cashin
inbanks
banksearns
earnsinterest
interestatatthe
theprevailing
prevailingbank
bankdeposit
depositrates.
rates.
Temporarycash
cash
investmentsare
are
Cash
Temporary
investments
Cash
in
banks
earns
interest
at
the
prevailing
bank
deposit
rates.
Temporary
cash
investments
are made
madefor
forvarying
varyingperiods
periodsof
ofup
uptotothree
threemonths
monthsdepending
dependingon
onimmediate
immediatecash
cashrequirements,
requirements,and
and
made
forCash
varying
periods
of prevailing
up
to three
months
depending
on immediate
cash
requirements,
and earn
interest
banks
earns
interest
at the
prevailing
bankrates.
deposit
rates.
Temporary
are
earnin
interest
atthe
the
prevailing
short-term
deposit
rates.
Due
the
nature
ofcash
suchinvestments
transactions,
the
earn
interest
at
short-term
deposit
Due
totothe
nature
of
such
transactions,
the
for
varying
periods
of
up
to
three
months
depending
on
immediate
cash
requirements,
and
at made
the
prevailing
short-term
deposit
rates.
Due
to
the
nature
of
such
transactions,
the
carrying
value
carryingvalue
valueapproximates
approximatesthe
thefair
fairvalue
valueof
oftemporary
temporarycash
cashinvestments.
investments.
carrying
earn
interest
at
the
prevailing
short-term
deposit
rates.
Due
to
the
nature
of
such
transactions,
the
approximates the fair value of temporary cash investments.
carrying
approximates
fairdeposits
value ofand
temporary
cash
investments.
Interestvalue
income
earnedfrom
fromthe
bank
deposits
and
temporary
investments,
grossof
offinal
finaltaxes,
taxes,
Interest
income
earned
bank
temporary
investments,
gross
amountedtoto=
P2,682,878
2,682,878and
and=
P943,766
943,766inin2012
2012and
and2011,
2011,respectively.
respectively.
amounted
P=
P=
Interest
investments,gross
gross of
of final
final taxes, amounted to
Interestincome
incomeearned
earnedfrom
frombank
bankdeposits
depositsand
and temporary
temporary investments,
₱2,682,878
₱943,766 and
in 2012
and 2011,
respectively.
amounted and
to =
P2,682,878
=
P943,766
in 2012
and 2011, respectively.
Cashon
onhand
handand
andininbanks
banks
Cash
Temporarycash
cashinvestments
investments
Temporary
Cash on hand and in banks
Temporary cash investments
Receivables
5.5. Receivables
Receivables
Thisaccount
accountconsists
consistsof:
of:
This
5.5.Receivables
Duefrom
fromrelated
relatedparties
parties(see
(seeNote
Note9)
9)
Due
Advancesfor
forliquidation
liquidation
Advances
Due from related parties (see Note 9)
Advances for liquidation
2012
2012
=2,285,700
2,285,700
P
=P
2012
271,628
271,628
P
=P
2,285,700
=2,557,328
2,557,328
=P
271,628
P
=2,557,328
2011
2011
P2,000,000
2,000,000
=
P=
2011
-=
P=
2,000,000
P2,000,000
2,000,000
P=
=
P2,000,000
Advances for liquidation pertain to cash advances related to the Foundation’s activities and projects,
specifically the Marikina Watershed Project, which is expected to be used next year.
43
-6-
6. Available-for-Sale Investment
Advances for liquidation pertain to cash advances related to the Foundation’s activities and
projects, specifically the Marikina Watershed Project, which is expected to be used next year.
This account consists of 10% Cumulative Convertible Preferred Stocks of PLDT, which were received
as donations on January 15, 2003. The preferred stock is convertible into PLDT’s common stock a year
after
the year of share issuance,
at a price equivalent to 10% below the average market price of PLDT’s
6. Available-for-Sale
Investment
common stock at the Philippine Stock Exchange over a period of 30 consecutive trading days before the
This account
of 10% Cumulative
Convertible
Preferred
of PLDT,
which were
conversion
date. consists
The conversion
price, however,
shall not
be lessStocks
than the
₱5 par value per share. At
received as donations on January 15, 2003. The preferred stock is convertible into PLDT’s
PLDT’s
option,
these
preferred
areshare
redeemable
valueequivalent
plus accrued
dividends
for five years
common
stock
a year
after thestocks
year of
issuance,atatpar
a price
to 10%
below the
afteraverage
the yearmarket
of issuance.
price of PLDT’s common stock at the Philippine Stock Exchange over a period of
30 consecutive trading days before the conversion date. The conversion price, however, shall not
be less than23,
the2011,
=
P5 parthe
value
perof
share.
At PLDT’s
option,
these preferred
stocks are
redeemable
On September
Board
Directors
of PLDT
approved
the redemption,
or the
Redemption,
at
par
value
plus
accrued
dividends
for
five
years
after
the
year
of
issuance.
of all outstanding shares of PLDT’s Series A to FF 10% Cumulative Convertible Preferred Stock, or the
SIP Preferred Shares, and all such shares were redeemed and retired effective on January 19, 2012, or the
On September 23, 2011, the Board of Directors of PLDT approved the redemption, or the
Redemption
Date.
Redemption,
of all outstanding shares of PLDT’s Series A to FF 10% Cumulative Convertible
Preferred Stock, or the SIP Preferred Shares, and all such shares were redeemed and retired
The effective
record date
for the 19,
determination
of the holders
of outstanding SIP Preferred Shares subject to
on January
2012, or the Redemption
Date.
Redemption, or Holders of SIP Preferred Shares, was fixed on October 10, 2011, or the Record Date.
The recordwith
date for
determination
of theofholders
ofPreferred
outstanding
SIP Preferred
Shares
to
In accordance
the the
terms
and conditions
the SIP
Shares,
the Holders
of subject
SIP Preferred
Redemption, or Holders of SIP Preferred Shares, was fixed on October 10, 2011, or the Record
Shares
as of the Record Date are entitled to payment of the redemption price in an amount equal to the
Date. In accordance with the terms and conditions of the SIP Preferred Shares, the Holders of SIP
par value
of such
shares,
and unpaid
dividends
thereon
upredemption
to the Redemption
Date, or the
Preferred
Shares
as ofplus
the accrued
Record Date
are entitled
to payment
of the
price in an
Redemption
Price.
As
such,
the
carrying
value
of
the
Foundation’s
AFS
investment
amounting
to ₱0.2
amount equal to the par value of such shares, plus accrued and unpaid dividends thereon up to the
Redemption
Date, ortothe
Redemption
Price.
such, the
carrying
value31,
of the
Foundation’s
million
was reclassified
due
from related
partyAs- PLDT
as of
December
2012
(see Note 9 AFS
– Related
amounting to =
P0.2 million was reclassified to due from related party - PLDT as of
Partyinvestment
Transactions).
December 31, 2012 (see Note 9 – Related Party Transactions).
7. Investment
in an Associate / Deposit for Future Stock Subscription
7. Investment in an Associate / Deposit for Future Stock Subscription
represents
investment
mCompany,Inc.
Inc.representing
representing a 40%
ThisThis
represents
investment
in inmCompany,
40% equity
equityinterest.
interest.mCompany,
mCompany, Inc.
Inc.
was
granted
by
the
Securities
and
Exchange
Commission
a
Certificate
of
Incorporation
was granted by the Securities and Exchange Commission a Certificate of Incorporation
ononFebruary
February
8,
2012
to
provide
IT-enabled
services
which
encompasses
data
preparation,
encoding,
8, 2012 to provide IT-enabled services which encompasses data preparation, encoding, transcription,
transcription, programming and adaptation of system software and middleware for commercial
programming and adaptation of system software and middleware for commercial and/or research
and/or research application, including all aspects of business process outsourcing activities. In
application,
all aspects
process
outsourcing
the Foundation’s
2012, theincluding
Foundation’s
depositofforbusiness
future stock
subscription
was activities.
reclassifiedInto2012,
investment
in an
deposit
for future
stock
wasofreclassified
investment
in an of
associate
account
associate
account
duesubscription
to the issuance
100,000,000toCommon
A shares
mCompany,
Inc.due
withtoa the
par value
of one pesoCommon
(P
=1.00) per
aggregate par
=
P100
million
to the
issuance
of 100,000,000
A share,
sharesor
ofan
mCompany,
Inc.value
with of
a par
value
of one
peso (₱1.00) per
Foundation.
share,
or an aggregate par value of ₱100 million to the Foundation.
8. Accounts Payable and Other Current Liabilities
8. Accounts Payable and Other Current Liabilities
Donations payable
Accounts payable
Accrued expenses
Withholding taxes payable
2012
P
=5,459,753
16,836,773
427,663
131,155
P
=22,855,344
2011
=
P8,584,404
689,141
132,434
42,014
=
P9,447,993
Donations payable and accrued expenses are settled within a year.
Accounts payable are noninterest-bearing and normally settled on 30-day or 60-day terms.
-7-7Donations payable and accrued expenses are settled within a year.
Donations
and accruedSTATEMENTS
expenses are settled within a year.
NOTES
TOpayable
FINANCIAL
9. Related Party Transactions
9.
9. Related
RelatedParty
PartyTransactions
Transactions
The Foundation has not recorded any impairment of receivables relating to amounts owed by
TheFoundation
Foundationhas
hasnot
not recorded
recorded any
anyimpairment
impairmentof
ofreceivables
receivablesrelating
relating toamounts
amountsowed
owedbybyrelated
The
related parties for
the year
ended December
31, 2012.
This assessment to
is undertaken
each
related
parties
for
the
year
ended
December
31,
2012.
This
assessment
is
undertaken
each
parties
for the
endedexamining
Decemberthe
31, financial
2012. Thisposition
assessment
is undertaken
each
yearin
through
financial
yearyear
through
of the
related party
andfinancial
the market
financial year through examining the financial position of the related party and the market in
which thethe
related
partyposition
operates.
examining
financial
of the related party and the market in which the related party operates.
which the related party operates.
Thefollowing
following tableprovides
provides
summary
outstanding
balances
at December 31,
2012
The
thethe
ofof
outstanding
balances
as as
at December 31,
2012
andand
2011
The followingtable
table provides
thesummary
summary
of
outstanding
balances
as
at December 31,
2012
and
2011 transactions that have been entered into with related parties:
transactions
that have
been
entered
into withinto
related
2011 transactions
that
have
been entered
withparties:
related parties:
PLDT*
PLDT*
Classifications
Classifications
Due from related party
Due to related party
Smart Communications,
Smart
Inc.Communications,
(Smart)*
Inc. (Smart)*
* Common directors
* Common directors
Terms and Conditions
Terms
and
Conditions
Due and
demandable;
Due
and demandable;
unsecured;
unsecured;
no impairment
noand
impairment
Due
demandable;
Due
and demandable;
unsecured;
unsecured;
no impairment
noand
impairment
Due
demandable;
Due
and demandable;
unsecured;
unsecured;
no impairment
noand
impairment
Due
demandable;
Due
and demandable;
unsecured;
unsecured;
no impairment
no impairment
2012
2012
P
= 285,700
P
= 285,700
2011
2011
=
P–
=
P–
539,285
539,285
398,890
398,890
2,000,000
2,000,000
2,000,000
2,000,000
100,000,000
100,000,000
100,000,000
100,000,000
The following table provides the summary of transactions for the years ended December 31, 2012
The
thethesummary
of of
transactions
forfor
thethe
years
ended
December 31,
2012
and
Thefollowing
followingtable
tableprovides
provides
summary
transactions
years
ended
December 31,
2012
and 2011 in relation with the table above for the transactions that have been entered into with
and 2011
in relation
with
theabove
table above
for
the transactions
that
have
been entered
into
withparty:
2011
in
relation
with
the
table
for
the
transactions
that
have
been
entered
into
with
related
related party:
related party:
PLDT
PLDT
Classifications
Classifications
Donation revenues
Donation
revenues
Projects and
donations
Projects
and donations
Compensation
and employee benefits
Compensation
and
employee
benefits
Professional and
other
contracted
services
Professional
and
other
contracted
services
2012
2012
P
=–
P
=–
277,610
277,610
2,616,646
2,616,646
529,896
529,896
24,437
24,437
2011
2011
=
P338
=
P
338
85,000
85,000
1,815,676
1,815,676
426,324
426,324
58,292
58,292
Duefrom
fromrelated
relatedparties
partiesrepresents
representscommitted
committeddonations
donationswhich
whichareare
received
from
Smart
Due
yetyet
to to
bebe
received
from
Smart
and
Due from related parties represents committed donations which are yet to be received from Smart
and receivables
from PLDT
due
toredemption
their redemption
ofcumulative
10% cumulative
convertible
preferred
receivables
from
PLDT
due
to
their
of
10%
convertible
preferred
stocks
owned
and receivables from PLDT due to their redemption of 10% cumulative convertible preferred
stocks
owned by the Foundation.
by
the Foundation.
stocks
owned by the Foundation.
Due to related parties represents compensation and benefits of the Foundation’s employees which
Due
which
are
Dueto
torelated
relatedparties
partiesrepresents
representscompensation
compensationand
andbenefits
benefitsofofthe
theFoundation’s
Foundation’semployees
employees
which
are paid for by PLDT but to be reimbursed by the Foundation and advances from Smart which was
are paid
for
by PLDT
but
to
be reimbursed
by
the Foundation
and advances
from which
Smart was
which
was
paid
for
by
PLDT
but
to
be
reimbursed
by
the
Foundation
and
advances
from
Smart
used
used to invest in mCompany, Inc. (see Note 7 – Investment in an Associate / Deposit for Future to
used to
invest in mCompany,
Inc. 7(see
Note 7 –inInvestment
in/an
Associate
/ Deposit
Future
invest
mCompany,
Inc. (see Note
– Investment
an Associate
Deposit
for Future
Stock for
Subscription).
StockinSubscription).
Stock Subscription).
45
-8NOTES TO FINANCIAL STATEMENTS
10. Donations
10. Donations
From cash donations received mainly from related parties, the Foundation also made cash
donations to MVP Sports Foundation, Inc., Samahang Basketbol ng Pilipinas, Inc., Gabay Guro
From
cash PLDT
donations
received Calamity
mainly from
related parties,
thedeFoundation
also madeCreative
cash donations
Projects,
Employees
Assistance,
Ateneo
Manila University,
Synergy,
toInc.,
MVP
Sports Foundation,
Inc.,Social
Samahang
Basketbol
ng Pilipinas,
Inc.,
Gabay Guro
Projects,Inc.,
PLDT
Philippine
Business for
Progress,
Philippine
Disaster
Recovery
Foundation,
Employees
CalamityEducational
Assistance, Ateneo
Manila
University,Excellence
Creative Synergy,
Business
PLDT Employee
Grant de
/ MVP
Academic
Award,Inc.,
SanPhilippine
Beda College,
for
Social
Progress,
Philippine
Disaster
Recovery
Foundation,
Inc.,
PLDT
Employee
Educational
Grant
/
Smart Educational Grants, Kapampangan Development Foundation, Inc., Bancom Alumni,
Inc.,
MVP
Academic
Excellence
Award,
San
Beda
College,
Smart
Educational
Grants,
Kapampangan
Gawad Kalinga Development Foundation, Inc., Children’s Heart Foundation, Inc., Alagang
Development
Foundation,
BancomForces
Alumni,
Inc.,Philippines
Gawad Kalinga
Development Foundation,
Kapatid Foundation,
Inc.,Inc.,
and Armed
of the
- EBSO.
Inc., Children’s Heart Foundation, Inc., Alagang Kapatid Foundation, Inc., and Armed Forces of the
Philippines - EBSO.
11. Supplementary Information Required Under Revenue Regulations Nos. 19-2011
and 15-2010
11. Supplementary Information Required Under Revenue Regulations Nos. 19-2011 and 15-2010
Revenue Regulations No. 19-2011
On December
9, 2011,
BIR has issued RR No. 19-2011 to prescribe the new BIR tax forms
Revenue
Regulations
No.the
19-2011
thatDecember
will be used
for income
starting
with calendar
year
2011.
Taxpayers
On
9, 2011,
the BIRtax
hasfiling
issuedcovering
RR No. and
19-2011
to prescribe
the new
BIR
tax forms
that
using
BIR Form
1702,tax
including
privateand
nonstock,
corporations,
now required
to
will
be used
for income
filing covering
starting nonprofit
with calendar
year 2011. are
Taxpayers
using BIR
present
schedules
of
receipts
and
itemized
deductions
as
part
of
the
notes
to
the
financial
Form 1702, including private nonstock, nonprofit corporations, are now required to present schedules of
statements.
receipts
and itemized deductions as part of the notes to the financial statements.
The Foundation is exempt from income tax under Section 30(e) of the National Internal Revenue
The Foundation is exempt from income tax under Section 30(e) of the National Internal Revenue Code
Code (NIRC) of 1997. Below are the receipts and itemized deductions of the Foundation pursuant
(NIRC) of 1997. Below are the receipts and itemized deductions of the Foundation pursuant to RR No.
to RR No. 19-2011 for the year ended December 31, 2012. This information is presented for
19-2011 for the year ended December 31, 2012. This information is presented for purposes of filing with
purposes of filing with the BIR and is not a required part of the basic financial statements.
the BIR and is not a required part of the basic financial statements.
Receipts
Receipts
Donations
Amount
=
P268,105,534
Itemized Deduction
Itemized Deduction
Projects and donations
Compensation and employee benefits
Public relations
Professional and other contracted services
Taxes and licenses
Foreign exchange losses
Depreciation
Miscellaneous expenses
Balance at the end of the year
Amount
P179,670,387
=
3,374,560
1,299,550
1,189,403
571,591
87,774
5,421
1,433
2,094,390
=
P188,294,509
Due to the amendment of certain provisions of RR No. 21-2002 on November 25, 2010, the Commissioner
- 9 - that prescribes the additional procedural and/or
of Bureau of Internal Revenue issued RR No. 15-2010
-9documentary requirements in connection with the preparation and submission of financial statements
accompanying
income
tax returns
effective December 31, 2010.
Revenue
Regulations
No. 15-2010
Due to the amendment of certain provisions of RR No. 21-2002 on November 25, 2010, the
Due to the amendment of certain provisions of RR No. 21-2002 on November 25, 2010, the
Bureau of Internal
Revenue
RR No. 15-2010
that of
prescribes
Below areCommissioner
the additionalof
applicable
to theissued
Foundation,
in pursuant
RR No. the
15-2010, for the
Commissioner
ofdisclosures
Bureau of Internal
Revenue
issued
RR No. 15-2010
that prescribes
the
additional
procedural
and/or documentary requirements in connection with the preparation and
year ended
December
31,
2012:
additional procedural and/or documentary requirements in connection with the preparation and
submission of financial statements accompanying income tax returns effective
submission of financial statements accompanying income tax returns effective
December 31, 2010.
31, Input
2010. Taxes. The Foundation has not declared VAT output taxes nor has it claimed
1) VATDecember
Output and
the additional
disclosures
applicable 31,
to the
Foundation,
in pursuantisofexempt
RR No. from
15-2010,
VATBelow
inputare
taxes
for the year
ended December
2012.
The Foundation
VAT as
Below are the additional disclosures applicable to the Foundation, in pursuant of RR No. 15-2010,
for
the
year
ended
December
31,
2012:
it does
not,year
in ended
the course
of its31,
trade
or business, sell, barter, exchange, lease goods or properties
for the
December
2012:
and1)render
services
subject
to
VAT.
It
also does not, whether or not in the course of its trade or
VAT Output and Input Taxes. The Foundation has not declared VAT output taxes nor has it
1) VAT
Output
and Input Taxes. The Foundation has not declared VAT output taxes nor has it
business,
import
goods.
claimed VAT input taxes for the year ended December 31, 2012. The Foundation is exempt
2)
claimed VAT input taxes for the year ended December 31, 2012. The Foundation is exempt
from VAT as it does not, in the course of its trade or business, sell, barter, exchange, lease
from VAT as it does not, in the course of its trade or business, sell, barter, exchange, lease
properties
and render
services
subject
to The
VAT. It also doeshas
not, whether
or not in nor
the
Landedgoods
Cost ofor
Custom
Duties
and Tariff
Fees.
importations
goods
orImports,
properties
and render
services
subject
to VAT.Foundation
It also does not,no
whether
or not in the has
course of its trade or business, import goods.
it paid customs
orortariff
fees for
the year
ended December 31, 2012.
course ofduties
its trade
business,
import
goods.
2) Landed Cost of Imports, Custom Duties and Tariff Fees. The Foundation has no importations
2) Landed Cost of Imports, Custom Duties and Tariff Fees. The Foundation has no importations
3) Excise
Taxes.
Foundation
hasorno
transactions
to December
excise taxes
for the year ended
nor has The
it paid
customs duties
tariff
fees for the subject
year ended
31, 2012.
nor has it paid customs duties or tariff fees for the year ended December 31, 2012.
December 31, 2012.
4)
5)
3) Excise Taxes. The Foundation has no transactions subject to excise taxes for the year ended
3) Excise Taxes. The Foundation has no transactions subject to excise taxes for the year ended
December 31, 2012.
December
31, Tax
2012.
Documentary
Stamp
(DST). The Foundation did not have transactions subject to DST for the
year4)ended
December 31, 2012.
Documentary
Stamp Tax (DST). The Foundation did not have transactions subject to DST for
4) Documentary Stamp Tax (DST). The Foundation did not have transactions subject to DST for
the year ended December 31, 2012.
the year ended December 31, 2012.
Tax5)Assessment
and Litigation. The Foundation has no outstanding tax assessment and litigation as
Tax Assessment and Litigation. The Foundation has no outstanding tax assessment and
5) Tax Assessment
and Litigation. The Foundation has no outstanding tax assessment and
at December
31,
litigation as2012.
at December 31, 2012.
litigation as at December 31, 2012.
6)
6) and
Taxes
and Licenses.
The breakdown
of and
taxes and licenses
recognized
arefollows:
as follows:
Taxes
Licenses.
The breakdown
of taxes
recognized
are as
6) Taxes
and Licenses.
The breakdown
of taxeslicenses
and licenses
recognized
are as follows:
Municipal taxes
Municipal taxes
Annual BIR registration
Annual BIR registration
Deficiency tax settlement – interest
Deficiency tax settlement – interest
7)
Amount
Amount
=
P11,438
=
P11,438
500
500
75,836
75,836
=
P87,774
=
P87,774
7) Withholding Taxes. The amount of withholding taxes paid and accrued for the year ended
7) Withholding
Taxes.
The amount
of withholding
paidaccrued
and accrued
for year
the year
ended
Withholding
Taxes.31,The
amount
withholding
taxes taxes
paid and
for the
ended
December
December
2012
are as of
follows:
December
31,
2012
are
as
follows:
31, 2012 are as follows:
Expanded withholding tax
Expanded withholding tax
Withholding tax on compensation
Withholding tax on compensation
Amount
Amount
=
P712,409
=
P712,409
756,717
756,717
=
P1,469,126
=
P1,469,126
47
Pldt-Smart Foundation, Inc. (PSF)
7/F Ramon Cojuangco Building
Makati Avenue, Makati City
Website: www.pldtsmartfoundation.org
Email address: [email protected]

PSF Annual Report 2012 - PLDT Smart Foundation

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