Atty Pedro D Ricafranca Memorial Sc

What it reported doing in 2024

The foundation did not renew memorandum of agreements (moa) between the foundation and eulogio amang rodriguez institute of science and technology (earist)and individual grantees. One institution trying to apply for a moa is the collegio de manila. Grants for politechnic university of the philippines (pup) and rizal technological university (rtu)were directly diverted to students as the institutions want to be paid for any scholarship assistance given to their students.a total of 69 scholarship grants per semester (there are two semesters per school year) were awarded or a total of 138 for the year 2018.in additional thesis and on-the-job expenses were awarded to graduating scholars requesting assistance. Under the memorandum of agreements with host state universities, it is clearly stated that the scholarship grants are for poor but deserving students who could hardly afford to pay tuition and miscellaneous fees.moreover, graduating students who could not afford tuition for review classes were given scholarships for them to pass government licensure examinations. So far some students were able to make it to become board topnochers.poor students desiring to apply for scholarships must present local clearances from local governmental units called barangays stating that they belong to the lowest level of the poverty level set by the government. Normally the university recommends names of students to be awarded scholarships based on the memorandum of agreements. Now the foundation checks the economic status of the students by visiting their stated homes. To counter check the economic status of the individual applicants, the foundation interviews the parents of the applicants to find out more about their sources of income and how they could afford to survive the poverty level of livelihood.a final list is done by the foundation for fundings. If there is a delay in supplying the foundation of the names of student applicants approved by them, the foundation requests the student applicants to pay first their tuitions and miscellaneous fees by borrowing from relatives. The foundation then reimburses the students either directly or through the university accounting offices in charge of scholarships.the operation of the foundation is hampered by lack of funds to support so much grants from individual applicants. Therefore the officers of the foundation who are descendants of the name of the foundation itself decided to chip in the difference to make all the projects push through. The foundation intends to award more scholarship grants to other deserving state universities where the enrollment has been going down because the cost of living of the society has been going up, and students could not afford to be educated anymore.the foundation strategy in assisting poor students to finish collegiate level is based on the logic that the philippine economy at present is heavily anchored on remittances from their overseas filipino workers. For a filipino to be able to work overseas, the philippines require that the workers be educated either through collegiate degrees or through trade skills. With no education, a poor student has no hope to have his life changed.the dollar remittances of these workers sent from abroad stabilize the economy of the philippines and the country now is considered one of the few far eastern countries with a very stable economy with huge dollar reserves from remittances. While at present there are fewer new applicants, the foundation intends to expand to the poor provinces all over the country. The foundation also noted that some state universities have very high tuition and miscellaneous fees for some courses which are in demand abroad most specifically the united states such as nursing and medical related fields, and engineering. On case to case basis the foundation assist students obtain high grant of fees to assist them on their chosen fields.the foundation hopes that with projects that dig deep into the economy o

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 100%; rating input score 100
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 77.8%; rating input score 78; 1st percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
• Governance controls: 3 of 7 controls in place; rating input score 43
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -7%; rating input score 48; 48th percentile among comparable filings
• Total-asset coverage ratio: 0.9; rating input score 23; 23rd percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

• Program expense growth: -6.2% per year; rating input score 0; 35th percentile among comparable filings
• Revenue growth: -2.3% per year; rating input score 0; 51st percentile among comparable filings
• Asset growth: 11.9% per year; rating input score 100; 83rd percentile among comparable filings