The foundation started on February 11, 1978 with the following incorporators: Adolfo C. Abueg, Eufrosina A. Angeles (Secretary-Treasurer), Chulia J. Azarcon, Cleofe M. Bacungan, Felimon T. Berba, Jr., Annabelle P. Brown, Buenaventura V. Buenafe (Auditor), Juan M. Flavier, Augusto L. de Leon (Chairman & President), Jose M. Ricafrente (Vice-Chairman/Vice-President), Perfecto O. Rivera, Titus B. Villanueva, Castor L. Villaruz and Nicanor C. Villasenor. The Articles of Incorporation were duly registered with the Securities & Exchange Commission on May 2 and the By-Laws were filed May 23 of the same year. NSDB (DOST) Tax-exempt certificate was obtained on Dec. 28, 1978 and has since been renewed every five years. The last DOST certification was renewed on December 26, 2013 and will expire December 26, 2018.
As long as the foundation has this certification from DOST, income earnings and donations are tax-exempt. For renewal of Certification, the foundation has to comply with the requirement that not more than 30% of the gross income and not more than 10% of the unrestricted donations accepted and received shall be devoted to general and administrative expenses. The main objective of the foundation is to help bridge the gap between available government funds and the actual financial requirements needed by the school to maintain its educational excellence.
This year, the foundation is 36 years old and the new set of board of trustees and officers will face many daunting challenges. Primary among these is the search for new donors and sponsors to be able to help the needs of the school. Next of course is how to achieve the maximum participation of all members of the PSHS community for all of the programs and projects of the foundation.