Charter
ARTICLES OF INCORPORATION
OF
Drift Woods & Co.
ARTICLE I
NAME/REGISTERED OFFICE
The name of this corporation shall be Drift Woods & Co. , located at S. Mulingbayan St, Brgy. 6, Nasugbu, Batangas, 4231.
ARTICLE II
PURPOSE
This corporation is organized exclusively for social charitable purposes, more specifically to promotion of unity, justice and equality. To this end, the corporation shall at all times be operated exclusively for charitable purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as now enacted or hereafter amended, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under Section 501(c)(3) of the Internal Revenue Code of 1986, as now enacted or hereafter amended. All funds, whether income or principal, and whether acquired by gift or contribution or otherwise, shall be devoted to said purposes.
ARTICLE III
EXEMPTION REQUIREMENTS
At all times shall the following operate as conditions restricting the operations and activities of the corporation:
1. The corporation shall not afford pecuniary gain, incidentally or otherwise to its members. No part of the net earnings of this corporation shall inure to the benefit of any member of the corporation, except that reasonable compensation may be paid for services rendered to or for the corporation affecting one or more of its purposes. Such net earnings, if any, of this corporation shall be used to carry out the nonprofit corporate purposes set forth in Article II above.
2. No substantial part of the activities of the corporation shall constitute the carrying on of propaganda or otherwise attempting to influence legislation, or any initiative or referendum before the public, and the corporation shall not participate in, or intervene in (including by publication or distribution of statements), any political campaign on behalf of, or in opposition to, any candidate for public office.
3. Notwithstanding any other provision of these articles, the corporation shall not carry on any other activities not permitted to be carried on by a corporation exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code of 1986, as now enacted or hereafter amended.
ARTICLE IV
DURATION
The duration of the corporate existence shall be perpetual.
ARTICLE V
MEMBERSHIP/BOARD OF DIRECTORS
The corporation shall have one or more classes of members, as provided in the corporation’s bylaws. The management of the affairs of the corporation shall be vested in a Board of Directors, as defined in the corporation’s bylaws. No Director shall have any right, title, or interest in or to any property of the corporation.
The number of Directors constituting the first Board of Directors is 8, their names and addresses being as follows:
Name Address
Kemuel G. Tacoloy Brgy. Talangan Nasugbu, Batangas
Kim Simon V. Sobrevilla Brgy. Talangan Nasugbu, Batangas
Michael Vincent T. Villafania Brgy. 6 Nasugbu, Batangas
Harold V. Recio Brgy. 6 Nasugbu, Batangas
Alvin P. Atienza Brgy. Reparo, Nasugbu, Batangas
Maria Cristina R. Bascon Woodstock Homes, Nasugbu, Batangas
Sarrah Ilao Brgy. 6 Nasugbu, Batangas
Arra Marie D. Rojales Roxaco Landing, Nasugbu, Batangas
Members of the first Board of Directors shall serve until the first annual meeting, at which their successors are duly elected and qualified, or removed as provided in the bylaws.
ARTICLE VI
PERSONAL LIABILITY
No (member) officer, or Director of this corporation shall be personally liable for the debts or obligations of this corporation of any nature whatsoever, nor shall any of the property of the (members) officer, or Directors be subject to the payment of the debts or obligations of this corporation.
ARTICLE VII
DISSOLUTION
At the time of dissolution of the corporation, the Board of Directors shall, after paying or making provisions for the payment of all debts, obligations, liabilities, costs and expenses of the corporation, dispose of all of the assets of the corporation. In non case shall a disposition be made which would not qualify as a charitable contribution under Section 170(c)(1) or (2) of the Internal Revenue Code of 1986, as now enacted or hereafter amended, in such manner as the Board of Directors shall determine.
ARTICLE VIII
INCORPORATOR(S)
The incorporator(s) of this corporation is/are:
Ivan Atie
Jermaine Sanvictorres
Roman Rodriguez
Michael Vincent Villafania
Kim Simon Sobrevilla
Harold Recio
Drexel Xerxes Bautista
Jezreel Role
Alvin Atienza
Gibson Guernaldo
Angelo Ditan
Kemuel Tacoloy
Lhino Consigo
Reginald Vergara
Nelson Castro
Lharry Boy Bautista
Fatima Pastor
Amethyst Dana Capuli
Crisyl Policarpio
Ivy Cubilla
Heiress Apolonio
Princess De Guzman
Arra Marie Rojales
Elizabeth Canteras
Maria Cristina Bascon
Rechelle Bentir
Eloise Torrecampo
Annabelle Bascugin
Sarrah Ilao
Carmina de las Alas
Kathleen Aguilan
Louisse Joy Gomez
Carla Glen Rozul
Maria Victoria Bascon
Ilonah Jean Escuton
Vea Marie Vargas
Ma. Myr Dianne Bagon
Aevhon Lagrisola
Jennalyn Manalo
N.J. Deguzman
Denis Ilagan
Ligiene Mercadal
Joana Singamohon
Kyrine Limon
Zander Ocampo
Conrado De Lunas
