LEGACY Committee Meeting, Sept 2021 

Background:  In the early part of 2021, the Adhoc Committee to handle the ROA (Necita Roa MD Charitable Foundation) endowment was created and its duty was to execute the rewarding of its initial drawdown scholarship that will be in keeping with the instructions of the Trust.

The complexity of handling huge Legacy endowments specially to make sure that disbursement of funds are to be consistent with the specific instructions of the specific Trust was presented and the UPMASA Board of Governors formally created the LEGACY Committee during its July 2021 meeting at the AGC in Cleveland Ohio.  It was agreed that the Adhoc Committee will function as the LEGACY Committee, naming Dr. Henry Echiverri and Dr. Mariano Yogore III as the Co-Chairmen.    Its task will be the oversight of both Salanga and Roa legacy and any future legacy

Members of the committee:

1. Henry Gan Co
2. Greg Tiu
3. Herbert Gaisano
4. Vic Malabonga
5. Geraldine Gomez-Pinder
6. Susan Concepcion-Echiverri

Pearl Ontalan UPMASA Executive Director arranged and attended the meeting.

SUMMARY:

1. Salanga Trust Review

The salient points of the Salanga Trust were presented by co-Chair Dr. Mariano Yogore III and the following consensus by the members were arrived at:

The balance of the Trust Property to the COLLEGE OF MEDICINE of the UNIVERSITY OF THE PHILIPPINES located in Manila, the Philippine Islands to be held in a separate fund in perpetuity, the income from which to be used for scholarships or financial assistance to needy Filipino medical students, the criteria for which is to be based solely on a demonstrated history of academic success.”

1. The Scholarship will only be awarded to the UP College of Medicine Medical Students in Manila.Although the UPMASA Policies and Procedures allow for uniform enforcement of all endowment, the committee decided that because the wording of the Trust is stated so, it will exclude students from any other UPCM branches NOT in Manila.
2. The Medical Students recipient will also include those who are in the MD-PhD tract, and excludes those who already graduated and in possession of an MD degree who pursue PhD studies.
3. The wording “Scholarship or Financial Assistance” allows UPMASA to award the money for other uses to further the students’ education. In this situations, computers, books, food and lodging, transportation, etc (within reasonable parameters) and health care are all considered to qualify for Financial Assistance.
4. The vetting by the UP College of Medicine Scholarship Committee, to identify those qualified for Scholarship on the basis of financial NEED and Academic Performance shall be UPMASA’s guideline for awarding.
5. Any surplus amount each year that is not awarded shall be pooled into a Fund for FINANCIAL ASSISTANCE to be disbursed by UPMASA to specific students with extraordinary needs as recommended by the UP College of Medicine.

 

2.  Financial History.

Last year, 5% drawdown of the Salanga Fund amounted to approximately $93,000.   The traditional General PEF Scholarship is $1200/year.  After awarding the money to additional Salanga Scholars, the extra money was used to “top off” the General PEF Scholars so that every UPMASA Scholars received $1500/year.  In addition, through the Salanga drawdown, every scholar (Except Pass through) received an allowance of $600 to purchase necessary Laptaps for their online courses.

This year, the drawdown is now 6% which is roughly $138,000.   There are 19 new Scholars for this academic year and they will receive $1500/year plus $700 for Laptap purchase.  (in the last BOG Meeting AGC July 2021, the percentage drawdown can be increased based on the financial performance of our investments, hence this year it will be 6% drawdown).

1. The list of Scholars this year are as follows:

	LIST OF NEW UPMASA SCHOLARS
	AY 2021 -2022
UPMASA-PEF
NO	CLASS	NAME	CONTACT NO	EMAIL ADDRESS
1	2026	Ballebas, Trisha M.	0966 983 4941	[email protected]
2	2026	Cometa, Adam Jesson P.	0966 168 1491	[email protected]
3	2026	Diosana, Arthur Conrad IV L.	0995 449 7621	[email protected]
4	2026	Ghori, Hina Jasmin C.	0915 341 2851	[email protected]
5	2026	Labordo, John Vincent	0929 435 8475	[email protected]
6	2026	Martin, King Dave M.	0991 436 5599	[email protected]
7	2026	Ora, Matthew Aldren S.	0945 899 9689	[email protected]
8	2026	Pilaspilas, Marc Julien S.	0926 044 7177	[email protected]
9	2026	Ramos, Kimberly Mae S.	0945 801 7758	[email protected]
10	2026	Victoria, Ronneil M.	0927 968 6118	[email protected]
ESS Scholarship
1	2024	Miralles, Karissa Alyanna S.	0905 552 9214	[email protected]
2	2023	Doroja, Nanette B.	0917 526 3006	[email protected]
3	2022	Laroco, Liza Marie Y.	0916 770 8681	[email protected]
4	2022	Remoreras, Eloisa Jean S.	0948 803 0088	[email protected]

Phi Lambda Delta International scholar
NO	CLASS	NAME	CONTACT NO	EMAIL ADDRESS
1	2024	Abu, Kariza Pamela V.	0917 307 8996	[email protected]
Health Partners LLC/Annette David Scholarship
NO	CLASS	NAME	CONTACT NO	EMAIL ADDRESS
1	2024	Dychiao, Robyn Gayle K.	0917 680 0912	[email protected]
Regionalization Proram (RP)
NO	CLASS	NAME	CONTACT NO	EMAIL ADDRESS
1	2024	Abdulghaffar, Nurul-Izzah G.	0935 063 0383	[email protected]
2	2024	Dicali, Ayeena Aleah M.	0945 799 2383	[email protected]
3	2022	Dalidig, Sherihanne M.	0995 752 2474	[email protected]

There are 6 vacant ESS (Salanga Scholars).  The reason this happens is that some of the deserving students opted for the higher DOH (Dept of Health) Scholarship.  DOH scholars are prohibited from receiving other scholarships.

Dr. Henry Gan Co supplied us with this information on the DOH scholarship breakdown.

Allowance paid directly to scholars, composed of:

• Living subsidy- PhP 4,500 per month
• Lodging allowance- PhP 3,000 per month
• Transportation allowance- PhP 800 per month
• Book allowance- PhP 12,100 per semester
• Uniform allowance- PhP 3,025 per semester
• Miscellaneous allowance- PhP 5,500 per semester

Annual Medical Insurance- PhP2,400 per year, to be paid directly to the Philippine Health Insurance Corp.

This roughly translates to approximately $2500 per year.  The scholars are required to do 2 years of work in Public Health for every 1 year of scholarship received.

The committee meeting concluded with discussions of feasibility of raising the scholarship to $2000/year.   UPMASA has a total of 84 scholars and 34 of them are ESS or Salanga Scholars.

 

FINANCIAL Assistance FUND, Dr Henry Gan Co will talk to Dr Chette Gonzales and report back to the Committee to enlighten us on how the PANTAWID funds were awarded so that the committee can come out with our own guidelines.

ROA LEGACY 2021 DISTRIBUTION:   Total amount drawdown this year was approximately $68,000.00.   The first beneficiaries are the Nursing Students of the School of Health Sciences in Palo, Leyte.  All of these 40 students had no third-party scholarships at all!

SHS – LIST OF 40 NURSING STUDENT SCHOLARSHIP RECIPIENTS_19 JUNE 2021-2

SHS Main CAMPUS, PALO

Koronadal

 

Submitted by Henry Echiverri MD, President-Elect, UPMASA 2021-2023, Co-Chair of the Legacy Committee