Minutes of the Xavier 74 Foundation, Inc. Meeting held at Sun Moon Garden, Jan. 6, 2000.

Present: Sherwin Chua, Joseph Whang, Johnson Yu, Michael Lim, Charlie Sy, Peter Chan, Joseph Limchutik, Terry Sy, Benjamin Go, Bobby Cecilio Lim

Filed by: Benjamin Go

Board of Directors

The 15 members of the board of directors of the Xavier 74 Foundation, Inc., whom each contributed Php 20,000, are:

• Sherwin Chua
• Joseph Whang
• Charlie Sy
• Michael C. Lim
• Joseph Limchutik
• Terry Sy
• Bobby Cecilio Lim
• Manuel Uychauco
• Leroy Tan
• Benito How
• Herbert Dy
• Winston Pua
• Benjamin Go
• Michael Tan
• Randolph Ang

Interim Officers

The interim officers, who shall occupy the positions until a general election is held, are the following:

Membership

The group deliberated on the qualifications for membership and thereafter arrived at the following policies:

Membership is open to all graduates of Xavier School high school 1974, Membership is also open to those who did not graduate high school from Xavier but have been a part of batch 1974 during his studies in Xavier, A membership fee of Php 2,000 is required.

In the matter of the membership fee of Php 2,000, it was determined through a vote. 7 out of 10 present voted for the amount of Php 2,000 while the rest of the 3 voted for Php 1,000.

Beneficiaries

It was mentioned that the main beneficiaries of the foundation are the members themselves, some of whom would be in need of financial support in times like during sickness. Also mentioned is assisting the teachers in times of their financial needs.

Assistance Proposals

Joseph Whang raised the matter of Father Li’s request for assistance in building a Church in China. It was decided that any assistance extended to Father Li’s project shall be on an individual basis and separate from the foundation,

Sherwin Chua gave a little background on Ms. Dangalio’s (our English teacher) Mother Of Life group. The group needs fund to continue their missionary work. Many have already responded to their appeal for assistance. Batch ’74 is still silent on this matter and perhaps the foundation can develop fund raising projects to assist charitable organization like the Mother of Life,

Financial Status

Batch 1974 has an accumulated fund of about Php 610,000.00. Source of fund is as follows: Board of Directors @20,000 Php 300,000 Golf tournament 100,000 Commision: Homecoming Ticket Sales 150,000 Past Projects 60,000

Next Meeting

It was agreed by the group present that the next meeting shall be on February 9, 2000 at Sun Moon Garden Restaurant. Matters to be taken up is to solicit members in preparation for the general election to be held on March 8, 2000.