The Iuvenis Orbis, Incorporated (IO Inc.), being a formal and legal organization of the alumni of the University of the Philipppines (UP) Iuvenis Orbis Geological Fraternity (IOGF), recognizing the needs of its members for financial assistance in times of crises, and hoping to partially address such needs, thereby proposes this program.
NAME OF ASSISTANCE PROGRAM
The assistance program shall formally be known as the Jessie A. Daligdig Fund (JADF) in honor of Brod Dr. Jessie Daligdig who perished in the line of duty on 28 April 2005 in a helicopter accident at Gabaldon, Nueva Ecija together with fellow UP geologists, Dr. Raymundo S. Punongbayan and Dr. Norman M. Tungol.
QUALIFICATIONS FOR ASSISTANCE THROUGH THE JADF
Those qualified for assistance through the JADF should be:
- A member of the Iuvenis Orbis, Inc.
- An alumni member of IOGF who is not a member of IO Inc. but determined to be financially in need upon recommendation of the JADF Committee and approved by the IO Inc. Board of Trustees (BOT)
- Should fall under the following categories:
- Seriously ill or incapacitated
SCHEDULE OF ASSISTANCE
The mode of assistance shall be financial in nature. Assistance shall initially be for PhP 20,000.00 under categories C.3.a and C.3.b and an additional PhP 10,000.00 if category C.3.b leads to category C.3.a.
A JADF Committee shall be established by the BOT to implement the JADF assistance program. The Committee will consists of a Chairman appointed by the BOT and two IO Inc. members selected by the JADF Committee Chairman and approved by the BOT. The function of the JADF Committee is recommendatory and all final decisions including acceptance of the recipients, designation of the heirs of the recipient and possible changes in this guidelines shall rest on the BOT. The Committee shall be tasked with the following:
- Monitors, verifies, and endorses/accepts calls for assistance and recommends action to the BOT
- Determines the heirs of the recipient and recommends to the BOT for approval
- Liaison between the recipients/heirs and the IO Inc. through the BOT
- Formulates detailed mechanics of the program implementation
- Recommends changes in the mechanics of the program as the need arises, for presentation to the BOT for approval
- Makes regular reports to the BOT regarding the status of the funds, assistance given, etc.
- Manages the JADF funds upon consultation and guidance from the BOT
APPLICATION AND APPROVAL PROCESS
The death or incapacitated state of a member can be reported by anyone to any member of the JADF Committee. The JADF Committee is tasked to investigate and verify the situation as quickly as possible. If the member passed away, the JADF Committee will investigate who is/are the heir(s) and recommends to the BOT who will be the actual recipient(s) of the JADF assistance. In case of incapacity, the member will be the recipient as long as he is still in full control of his faculties. If not, the recipient will be his wife and/or live-in partner as recommended by the JADF Committee and approved by the BOT. If the recipient is not survived by his wife and/or live-in partner, then his child(ren) will be the recipient(s) as recommended by the JADF Committee and approved by the BOT. To avoid legal controversies and expedite assistance quickly, IO Inc. through the BOT as recommended by the JADF Committee, reserves sole discretion in the selection of beneficiaries/recipients of this internal assistance program.
In case a recipient(s) as recommended by the JADF Committee and approved by the BOT declines the JADF assistance for whatever reason, all amounts, if disbursed, will be reimbursed back to the JAD Fund.
Initial source of funds will come from donations from members. An initial target amount of PhP 150,000.00 (good for five full assists) must be attained for the program to commence. A balance of PhP 90,000.00 shall be maintained at any given time thereafter.
In order to sustain the viability of the program, PhP 60,000.00 may be used as seed money for fund raising activities including time deposits, insurance plans and the like.
In order to encourage members to contribute, a detailed record of donations / contributions shall be kept by the JADF Committee and the IO Inc. Treasurer. Any accumulated individual contribution in excess of PhP 5,000.00 will be credited to the contributor and shall be added to his assistance package when his need arises.
The fund itself shall be maintained in a bank account and/or investment fund separate from the other funds such as Al Llamas Educational Assistance Funds (ALEAF), UP Geology Merit Awards (UPGMA) and Operational Funds (OPF). Currently, the funds are held in a savings account at North Avenue-Quezon City branch of the Land Bank of the Philippines (LBP).
EFFECTIVITY AND AMENDMENTS
The effectivity of these guidelines shall commence upon due consultation with the general membership and approval of the BOT in the form of a board resolution.
Amendments shall be channeled through the JADF Committee with similar due consultation and approval from the general membership and BOT respectively.
DATE OF APPROVAL
Approved by the IO Inc. Board of Trustees on 15th August 2005 as per Board Resolution No. BR2005-5.