Overview
What is Atty Pedro D Ricafranca Memorial Sc?
Atty Pedro D Ricafranca Memorial Sc is a nonprofit organization established to provide scholarships for economically disadvantaged students in the Philippines, specifically those in the lower five percent of the society. Located in New Jersey, USA, the foundation has been affected by economic downturns, resulting in reduced scholarship grants and services. The scholarships cover tuition and miscellaneous fees, with a focus on courses that could potentially offer work opportunities in the United States. To ensure the scholarships are awarded to genuinely needy students, the foundation conducts home visits and interviews with parents to assess their financial situation. The foundation's mission is to help improve the lives of these students, as they believe that education is crucial for Filipinos to secure work opportunities abroad, thereby contributing to the Philippines' economy. The foundation subsists on donations, with donations being relatively small and few in number during economic downturns. Despite the challenges, the foundation hopes to expand its reach to poor provinces and award more scholarships in the future.
Is Atty Pedro D Ricafranca Memorial Sc legitimate?
Atty Pedro D Ricafranca Memorial Sc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Atty Pedro D Ricafranca Memorial Sc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Atty Pedro D Ricafranca Memorial Sc?
The Atty Pedro D Ricafranca Memorial Scholarship Foundation aims to provide financial aid to economically disadvantaged students, belonging to the lower five percent of the Philippine society, through tuition and miscellaneous grants. This is done to help these students complete their collegiate education. The foundation visits the homes of applicants and interviews their parents to verify their economic status. Grants are awarded based on the applicant's financial need and academic merit. The foundation also pays for additional expenses such as thesis and on-the-job expenses for graduating scholars. The foundation's strategy is based on the belief that education is crucial for Filipinos to work overseas and contribute to the country's economy. Despite facing financial challenges, the foundation intends to expand its reach to poor provinces and provide scholarships to students pursuing high-demand courses. The foundation hopes that its projects will honor the legacy of Atty Pedro D Ricafranca Sr., a valiant soldier who served in the United States Army during World War II.
Who is the CEO of Atty Pedro D Ricafranca Memorial Sc?
Monica Ligaya C Ricafranca is the Treasurer of Atty Pedro D Ricafranca Memorial Sc.
What is the revenue of Atty Pedro D Ricafranca Memorial Sc?
Atty Pedro D Ricafranca Memorial Sc's revenue in 2022 was $6,432.
Who are the executives of Atty Pedro D Ricafranca Memorial Sc and what are their salaries?
Here are 3 key members and their salaries:
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- Related: $0
- Other: $0
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Where can I find the form 990 for Atty Pedro D Ricafranca Memorial Sc?
Atty Pedro D Ricafranca Memorial Sc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Atty Pedro D Ricafranca Memorial Sc
The Atty Pedro D Ricafranca Memorial Scholarship Foundation is committed to providing financial assistance to economically disadvantaged students who belong to the lower five percent of the Philippine society. By offering tuition and miscellaneous grants, the foundation aims to help these students pursue their higher education, which is crucial in securing better job opportunities and ultimately contributing to the country's economy.
The foundation's mission is rooted in the belief that education is a powerful tool to uplift individuals and communities from poverty. It targets students who struggle to afford their tuition and miscellaneous fees, providing them with the necessary financial support to continue their studies. The foundation's strategy is based on the understanding that a well-educated population can contribute significantly to the country's economic growth, particularly through remittances sent by Filipino workers overseas.
The selection process for scholarship recipients is rigorous. Applicants must present local clearances from their barangay (local governmental units) to prove their economic status. The foundation then verifies this information by visiting the applicants' homes and interviewing their parents to ensure their financial need. The foundation has a list of universities it collaborates with, but it has also started visiting potential universities to assess their needs and extend scholarships to deserving students. Despite facing financial constraints, the foundation's officers have personally contributed to ensure that the scholarships continue to be awarded. The foundation's ultimate goal is to provide more scholarship grants to state universities, particularly those whose enrollment has been affected by the rising cost of living.
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Impact
August, 2024
Atty Pedro D Ricafranca Memorial Sc's impact is significant in providing scholarships for economically poor students belonging to the lower five percent of Philippine society. The foundation awards scholarship grants to deserving students who could hardly afford to pay tuition and miscellaneous fees, enabling them to pursue collegiate education and even pass government licensure examinations. By supporting these students, the foundation is directly contributing to the education and skill development of the workforce in the Philippines, which is crucial for the country's economy that heavily relies on remittances from overseas Filipino workers.
Despite facing challenges such as lack of funds and dwindling donations, the foundation continues its mission to assist poor students in accessing higher education opportunities. Through the scholarships provided, many recipients have been able to pursue fields in demand abroad, such as nursing, medical-related fields, and engineering, potentially leading to employment opportunities overseas and contributing positively to the economy.
The foundation's dedication to honoring the memory of Atty Pedro D Ricafranca Sr, a war veteran, through educational support reflects a commitment to transforming the lives of disadvantaged students and ensuring their future economic empowerment. By facilitating access to education for those in need, the foundation plays a crucial role in creating a pathway for students to achieve their academic and career aspirations, ultimately leading to a positive impact on both individuals and society as a whole.
This information is meant to be a general summary of Atty Pedro D Ricafranca Memorial Sc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $6,432
Assets and Liabilities:
- Total Assets: $6,889
- Total Liabilities: $0
- Net Assets: $6,889
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Organization Details
Founding Year
2005
Principal Officer
Monica Ligaya C Ricafranca
Main Address
69 LONGVIEW AVE, Randolph, NJ, 07869
NTEE Category
Code: B82 - Education
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