We have found the advantages of the FECU Social and we want to tell you about them! Here we will show you what it is, who should do it, when it should be done, the tools it provides and how to fill it out.
What is FECU Social?
The FECU Social (Uniform Codified Statistical Record) is a document that reports the management, structure and financing within a Non-Profit Organization (NPO), fulfilling the purpose of providing information to the Ministry of Justice once a year.
Who can use it?
Foundations.
Corporations.
Trade associations.
Trade unions.
Neighborhood Councils and Community Organizations.
Cooperatives.
Other institutions that do not seek economic profit.
When to use it?
When we create an OSFL we commit to submitting a report and balance sheet to the Ministry of Justice once a year, but an alternative to this is to do the FECU Social, which is a form created by the Community of Solidarity philippines mobile number Organisations. The FECU Social is voluntary, but completely recommended (even by the Ministry of Justice) and you should fill it out from day 1 that your OSFL starts operating. The dates stipulated by the Ministry of Justice to submit the FECU were March 2022 or June 2022. Therefore, you should work on it at least a couple of months in advance, to have it ready in the first half of the corresponding year.
What are its benefits?
Some of the advantages that the document provides are:
Supports management and self-reflection.
Complies with legal requirements.
Promotes a culture of accountability and transparency.
Weak points and missing steps can be identified.
Francisco Ramírez (Member of the transparency commission of the Community of Solidarity Organisations) told us: “Without transparency there is no trust. Without trust there is no support from people or institutions and, without support, NGOs die and disappear.” It is important to be aware of how foundations, corporations or NGOs depend on the help of third parties. For this reason, being able to transparently show the internal functioning of an NGO generates credibility.
How to fill it?
The first step is to go to the Ministry of Justice website to download the document (there are two versions, the complete or the simplified one, the difference between the two is the Financial Statements. (As a note, the Simplified Social FECU is accepted only during the first two years of existence of the OSFL, after that time they should use the complete version that includes financial statements). Then we begin to fill out.
Once the document is completed, it can be sent to the Legal Entities Department via digital means. If the document (Statement and/or Balance Sheet and/or FECU SOCIAL) cannot be submitted via this means, it can also be delivered physically through the Office of Parties, located at Moneda N° 1155, Monday to Friday from 9:00 a.m. to 2:00 p.m.
Need more advice?
We tell you about the help desks to prepare your FECU Social. These are carried out by the Community of Solidarity Organizations, who hold online meetings three days a week (Tuesday, Wednesday and Thursday) from 3:00 p.m. to 5:30 p.m., with specialists on the subject such as Francisco Ramírez, Arturo Cerda or Eduardo Vergara. The contact email is: [email protected]
TIP: It would be ideal if you published the FECU Social on your institution's website, as in our case.
If you want to expand your content, we invite you to watch this webinar “FECU Social”