University of the Philippines Industrial Engineering Alumni Association

IE Achievers Program Fund Report Issued

Posted on: Sep 25, 2018

As Academic Year 2018-2019 begins, the UPIEAA Board is publishing the fund report of the IE Achievers Program. A total of P1,187,254 in donations were received since the programs inception in July 2016. Stipends were disbursed to 5 and 8 grantees (a mixture of students and faculty) for AY 2016-17 and 2017-18, respectively for a total of P650,000. 10% of funds raised is also allocated for other forms of support–such as the sponsorship of international competitions and graduation dinners–and marketing and administration expenses, leaving a fund balance of P418,528.60 (as of August 31, 2018).

“We wish to maintain transparency, particularly to our donors who continue to support our programs”, said President Ricky Banaag. “Measures are put in place to make sure the funds go to the most financially-challenged students.”

At the start of the 2018, UPIEAA entered into an agreement with the UP Engineering Research and Development Foundation, Inc. (UPERDFI) which was authorised to accept and invest all donations as well as disburse monthly stipends directly to all grantees. Moreover, the stipend is only guaranteed for a year, i.e. students need to apply again the following school year. Applicants are re-evaluated for any shift in their financial positions.

In spite of full subsidy, many scholars struggle with the rising cost of living. Some opt to work on the side sacrificing time for studies, while others drop out altogether. The IE Achievers Program was established to help IE students defray their monthly costs.

“Fundraising is year-round and we have been blessed with corporate donations,” Banaag disclosed. “Alumni, have shown support like JJ Alano who referred us to Jollibee Foundation. One more student can now focus on his studies throughout his stay in UP without having to worry about everyday costs like transportation, meals, photocopying, and internet.”

How to Donate

Donations may be made by simply depositing or transfer directly to:

UP Engineering Research and Development Foundation, Inc. (UPERDFI)
Acct No C/A 3081 0292 44
BPI Loyola Katipunan Branch

Then email an image of your deposit slip or transaction to secretariat@upieaa.org with the following information: 1) Your full name; 2) Your TIN and 3) Your mailing address. An OR and a Certificate of Donation (for donations of P50,000 and more) will be couriered to you.

IE Achievers Program Fund Report Issued

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