PASAR Foundation, Inc.

The Pasar Foundation, Inc. (SFI) was registered with the SEC as a non-stock, non-profit corporation on February 2004 by the management of Pasar Corporation to be a vehicle to pursue its corporate social responsibility. To formally act as a corporate foundation, a Memorandum of Agreement was entered into between PASAR Corp. and Pasar Foundation, Inc. in December 2004 for the former to engage the services of the latter to assist, develop and handle the social development projects it had started and to manage these programs with the Foundation?s development approaches. The Foundation?s main office is located at LIDE, Isabel, Leyte. It has a regular staff of two, project-based staff of one, and seven members of the Board of Trustees. It was certified for one year on October 12, 2006 which ended on October 11, 2007. Its purposes, among others, are to: a. help build prosperous community enterprises and local cooperatives that will contribute to the upliftment of the residents of local communities in Isabel, Leyte and neighboring municipalities, and the development of local resources. b. promote environmental conservation through proper waste management, watershed conservation and sustainable coastal resource management. c. give donations to recognized charitable and educational institutions and finance scholarship grants to deserving high school and college students and create professorial chairs in selective educational fields. The Foundation?s programs now focus on the following areas: a. Children and Youth Development b. Environmental Conservation c. Economic Improvement Its sources of income include donations from PASAR Corporation.