Requirements for SEC Registration of a Non-Profit Organization
Wiki Article
Establishing a non-profit organization in the Philippines is a worthwhile endeavor dedicated to community service, social advocacy, or charitable work. However, to operate legally and enjoy tax benefits, you must formalize your group through the Securities and Exchange Commission (SEC). Understanding the requirements for sec registration of non profit organization is the first vital step to ensuring a smooth and successful approval process.
The Core Registration Requirements
To incorporate a non-profit, non-stock corporation, you need to prepare a specific set of documents. The SEC strictly evaluates these submissions to ensure compliance with the Revised Corporation Code of the Philippines.
Name Verification: You must first check and reserve your proposed organization name through the SEC Company Registration System (CRS). The name must include suffixes like "Foundation, Inc." or "Association, Inc."
Articles of Incorporation: This document defines the purpose, principal office address, and the names of the incorporators. For non-profits, it must explicitly state that no part of its income will be distributed as dividends to its members.
Bylaws: These are the internal rules governing the organization, detailing membership qualifications, meeting schedules, and the duties of directors and officers.
List of Members and Contributors: A certified list of the founding members and the board of trustees (minimum of 5, maximum of 15).
Treasurer's Affidavit: A sworn statement by the elected treasurer certifying that the initial contribution or fund has been received by the organization.
Undertaking to Change Name: An agreement to change the corporate name if another entity holds a prior right to it, alongside an undertaking to submit periodic financial reports.
Take Note: If your non-profit intends to operate as a "Foundation," you are required to have a minimum initial capital/contribution of PHP 50,000 and must secure additional clearances from relevant government agencies like the DSWD or DepEd, depending on your advocacy.
How to Register
Account Creation: Create an account on the SEC online portal (eSPIARC or CRS).
Name Reservation: Input your desired name. If approved, pay the reservation fee.
Data Input & Document Upload: Fill out the digital forms for the AOI and Bylaws, then upload the required notarized documents.
Pay Filing Fees: Settle the registration and legal research fees online or through authorized banks.
Get Certificate: Once reviewed and approved, the SEC will issue your digital or physical Certificate of Incorporation.
Final Thoughts
Completing the requirements for sec registration of non profit organization may seem overwhelming at first, but following the structured guidelines makes the journey manageable. Knowing how to register a non profit organization in the philippines ensures your advocacy stands on a solid requirements for sec registration of non profit organization foundation. With your SEC certificate in hand, your organization gains the legal personality needed to accept donations, open bank accounts, and make a lasting impact.