Philippine Development Foundation Dba Phildev USA

Nonprofit profile at a glance

EIN
943369973
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Palo Alto, CA, USA
Phone
6507873804
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
International Development

Official website

Reported finances

Revenue
$433,006
Expenses
$446,720
Assets
$471,111
Liabilities
$10,367

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • ANGELINA CASTRO (EXECUTIVE DIRECTOR (UNTIL 07/24))
  • OLIVIA DE JESUS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ANGELINA CASTRO (EXECUTIVE DIRECTOR (UNTIL 07/24)): $51,820 total reported compensation
  • OLIVIA DE JESUS (EXECUTIVE DIRECTOR): $37,992 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Phildev USA is an innovation organization whose mission is to accelerate science and technology for national development through initiatives, programs, and partnerships. Our values are: educationwe value education strengthening the foundation that paves the way for national development, and supporting aspirations of the youth and our best minds through scholarships and other learning opportunities.innovationwe believe innovation pushes knowledge and industries forward strengthening our links with and among organizations, the academe and private industry, and investing in research and development.entrepreneurshipwe empower through entrepreneurship creating a culture of creativity, turning ideas into viable, scalable and sustainable enterprises that create jobs and share wealth in the community.

What it reported doing in 2024

The 2024 annual gala is phildev's signature fundraiser for the benefit of programs that provide stem scholarships to college students. It also doubles as a program to recognize achievements in education, innovation and entrepreneurship through phildev awards and inspire the next generation of leaders and innovators. Phildev continues to support science and engineering scholars at the university level. In 2020, we added a mentorship program, called mulat, in partnership with intel. In the 2024 academic year, phildev supported 100 scholars. During 2024, there are 271 graduates for this program.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 69% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 83
  • Accountability: 79
  • Sustainability: 34
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.6%; rating input score 82
  • Program expense ratio: 79.1%; rating input score 79
  • Fundraising efficiency: $44.55 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 3 of 8 controls in place; rating input score 38
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Pass
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: -3.2%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 1.05; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 20.1%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: -5.1% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -12.1% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -0.2% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 81.6% of revenue deployed · 79.1% of spending went to programs
  • Governance: 15 of 15 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $353K in reported program spending
  • Leadership: top reported pay $52K · 19 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 8 filed schedules · includes major donors and foreign activity
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Transparency & Controls: Foreign activity oversight: 5 of 8 not reported.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.