Philippine Development Foundation DBA Phildev USA

“Diosdado banatao, chair and maria banatao, trustee, are family members. Angelina castro, executive director and jones castro, executive vice chairman are family members. Danny lopez, treasurer and don lopez, trustee are family members.”

“Philippine development foundation's cpa firm and finance team prepare the form 990. The form is then reviewed and approved by the organization's executive director. The form 990, including all schedules, is then provided to the full board of directors prior to filing.”

“All officers, directors and key employees are covered persons under phildev's conflict of interest policy. An annual conflict of interest disclosure form is required to be completed by all covered persons wherein they affirm that they 1) have received a copy of the conflict of interest policy; 2) have read and understand the conflict of interest policy; 3) agree to comply with the conflict of interest policy; 4) affirm any transactions they or a family member have entered into, directly or indirectly, with phildev; 5) affirm whether they or a family member held a position with an organization the phildev has any business relationship with; 6) affirm whether they or a family member had a financial interest in any organization that phildev has or is contemplating entering into a business relationship with; and 7) affirm whether they or a family member received any gifts, money, loans or other type of service or favor with a market value of $200 or more from any person or organization that has, or is seeking to have, a business relationship with the phildev. The board of directors reviews the annual disclosures and addresses any potential conflicts of interest, with any interested person abstaining from the deliberation and discussion of the matter.”

“Phildev's board of directors has a process for reviewing and approving the compensation of the executive director on a regular basis to determine it is fair and reasonable with the goal of retaining employees at compensation levels within appropriate market range. The process for determining the compensation paid to the executive director includes the approval of the compensation arrangement in advance, by the board of directors, with all persons with a conflict of interest abstaining from the board's deliberation and discussion. The board reviews data of comparable compensation for similarly qualified nonprofit executives at similarly situated entities. The documentation of the board includes the terms of the transaction and the date of approval, the members who were present during the debate and vote on the transaction, a description of the comparable data and how it was obtained, and documentation of the basis for the determination.”

“Some or all of these items maybe available through the website and annual report.”

“Phildev's mission is to provide the filipino-american communities in the usa with an effective mechanism for philanthropic activities and to assist the civil society organizations in the philippines with this resource. Our vision: education we 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. Innovation we 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. Entrepreneurship we 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.”

“Professional fees: program service expenses 23,664. Management and general expenses 16,597. Fundraising expenses 3,706. Total expenses 43,967.”