Submission of Sworn Statement by President and Treasurer of SSSAA and COEP

June 18, 2012 SEC NOTICE TO : All Foundations SUBJECT : Submission of Sworn Statement by President and Treasurer of the Sources, Amount and Application of Funds and Program/Activity Planned, Ongoing and Accomplished (SSSAA) and Certificate of Existence of Program/Activity (COEP) Notice is hereby given that on 24 May 2012, the Commission resolved to allow Foundations who failed to submit the Sworn Statement by the President and Treasurer on the Sources, Amount and Application of Funds and Program/Activity Planned, Ongoing and Accomplished (SSSAA) and Certificate of Existence of Program/Activity (COEP) for the years 2006 to 2010 , as required under Sections 4 and 5 of SEC Memorandum Circular No. 8, Series of 2006, to submit such SSSAA and COEP, subject to a one-time payment of Five Thousand Pesos (Php5,000.00) in lieu of the yearly penalty of Ten Thousand Pesos (Php10,000.00) for each violation imposable under Section 9 of Memorandum Circular No. 8, Series of 2006. TICDSc Starting with the 2011 Annual Financial Statements (AFS) that should include the SSSAA and COEP, the penalty of Five Thousand Pesos (Php5,000.00) for non-submission and Two Thousand Five Hundred Pesos (Php2,500.00) for late submission of SSSAA and COEP shall be imposed. Late submission is understood to mean submission within one (1) year from the deadline. Submission after the said 1-year period shall already be considered non-submission. The said penalty shall be in addition to a fine provided in SEC Memorandum Circular No. 8, Series of 2006 for any material deficiency or misstatement in said AFS and its components. Mandaluyong City, Philippines, June 18, 2012. SECURITIES AND EXCHANGE COMMISSION