Why was FC Set Up in the US as an IRS 501c3 Tax Deductible Charity?
Funding agencies in the Vatican, Germany, Italy and other countries increase their assistance to poorer mission areas worldwide. On the other hand, they are gradually decreasing support for the Philippines, considering that we are already a mature Church, approaching 500 years of Christianity in the year 2021.
The decline in scholarship opportunities has caused the Collegio population to decrease to around half of its 60-room capacity. Furthermore, urgent renovation of its 60-year old building requires much effort. The high cost of living, labor and construction materials in the Italian capital immediately depletes the Collegio’s only source of stable income: a mere $8,000 per student per school year for complete board and lodging, including individual rooms with bathroom, laundry, meals and snacks. Raising our fees will make it more difficult for our Bishops to send students to Rome.
For this reason, FC was set up as a non-profit organization, to allow US-based donors to more easily help the Collegio. Donations for scholarships, operations, programs, and other needs of the Collegio are issued receipts, which the donor may use for tax-deduction purposes by virtue of the IRS 501c3 determination letter dated February 10, 2016. Donations are deposited to FC’s bank account in the US; checks paid to the Collegio are then regularly issued by FC.
You may also find FC in the IRS Tax Exempt Organization Search. Be sure to:
- Search By “Organization Name”
- and put as Search Term: “Friends of the Collegio”