Preda Secures Certificate of No Derogatory Record from SEC
July 22, 2021 · By Preda News
Preda Secures Certificate of No Derogatory Record from SEC
The Philippine Securities and Exchange Commission (SEC) has issued 21 June 2021 a “Certificate of No Derogatory Record” to the Preda Foundation. The Certificate reads in part, “the Preda Foundation has not been dissolved nor has the Commission has received any information derogatory to said corporation that would prevent it from exercising its primary franchise.”
Previously, the Preda Foundation has also secured a Certificate of Tax Exemption and Certificate of Donee-Institution Status,” both from the Bureau of Internal Revenue (BIR). It is also accredited by the Philippine Council for NGO Certification (PCNC) and its programs for children are accredited by the Department of Social Welfare and Development (DSWD).
Individual and corporate donors to Preda Foundation are assured that their donations go to projects that benefit the intended beneficiaries. They are also exempted from paying the 30 percent donor’s tax and their donations to Preda can be deducted in full from their taxable income as computed after expenses arising from trade, business or profession have been deducted.
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