In the Matter of Home Joy Village Foundation, Inc.

December 10, 2007 SEC EN BANC CASE NO. 08-07-0145 IN THE MATTER OF HOME JOY VILLAGE FOUNDATION, INC. (SEC REG. NO. 154391), petitioner. FOR: LIFTING OF ORDER OF REVOCATION OF CERTIFICATE OF REGISTRATION O R D E R Petitioner Home Joy Village Foundation, Inc. is a non-stock, non-profit corporation registered with the Commission on 17 August 1988. Its office address is located at No. 168 Monastery Road, Barangay San Isidro, Magalang, Pampanga. DHITSc On 29 September 2003, petitioner's Certificate of Incorporation No. 154391 was revoked for non-compliance with the Commission's reportorial requirement, pursuant to the Order dated 20 August 2003. Petitioner now prays for the lifting of the said Order of Revocation on the following grounds: 1. the corporation intends to carry out its mission of uplifting the dignity of children with utmost care, guidance, support and security and nurturing the children with Christian values and virtues that will make them responsible and upright citizens of the community and the society as a whole; 2. the corporation intends to realize its organizational vision of developing the general well-being of children as practicing Christians living the Catholic faith in a community setting; and 3. the corporation has under its care fifty children, six of whom are in need of continuous and intensive medical care and attention. IcHTCS In support of its Petition, petitioner submitted the following documents: 1. Photocopy of 2006 Annual Income Tax Return (BIR Form No. 1702); 2. Photocopies of Minutes of annual meeting of the members dated 04 February 2006 and 03 February 2007; and 3. Photocopies of Minutes of regular meeting of the Board of Trustees dated 10 May 2006 and 09 August 2006. aDACcH Petitioner further alleges that it has no intention to violate the law and henceforth, commits to comply with the rules and regulations of the Commission regarding the submission of reports. In fact, petitioner paid the penalty on 07 August 2007 amounting to Seven Thousand Pesos (P7,000.00) as evidenced by Official Receipt No. 0080804. In a Memorandum dated 27 July 2007, the Compliance and Enforcement Department ("CED") requested the OGC to require petitioner to secure a clearance from CED before approval of the said petition in view of the investigation on the company's operation. CDHacE On 21 August 2007, the Department of Social Welfare and Development ("DSWD") informed the Commission that petitioner is now revising their manual of operation and the lifting of the Order of Revocation is one of the requirements in the issuance of DSWD Certificate of Registration. On 29 August 2007, CED recommended that the Petition to Lift Order of Revocation filed by the petitioner be approved after compliance with the SEC reportorial requirements and payment of fees. Petitioner submitted its 2007 General Information Sheet and 2006 financial statement on 27 February 2007 and 25 July 2007 respectively and paid the penalty on 07 August 2007. WHEREFORE, premises considered, the Order of the Commission dated 20 August 2003 revoking the Certificate of Registration of Home Joy Village Foundation, Inc. is hereby SET ASIDE. Let a copy of this Order be furnished the Company Registration and Monitoring Department (CRMD) and the Economic Research and Information Department (ERID) of this Commission for their appropriate action. TacSAE SO ORDERED. Mandaluyong City, Philippines. December 10, 2007. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner (SGD.) THADDEUS E. VENTURANZA Commissioner