Question & AnswerQ&A (PRESIDENTIAL DECREE NO. 205)
The primary purpose is to foster and support the developmental forces in the nation's economy through selective human resource development programs, research, data-collection, and information services to optimize wealth while maximizing public security and welfare.
The corporate seal is mentioned under Section 2: Corporate Powers.
The principal office is established at Tagaytay City as stated in Section 3.
The Board of Trustees consists of fifteen members. Some ex officio members include the Secretary of Finance, the Executive Secretary, the Secretary of National Defense, the Director General of NEDA, the Governor of the Central Bank, and the Presidents or Chairpersons of major government financial institutions.
One member, to be appointed for a two-year term by the other Trustees, must be a Muslim Filipino of national prominence.
The Executive Committee has all powers delegated by the Board of Trustees except the power to fill vacancies on the Board and to amend the Academy's rules and regulations.
The Board of Trustees appoints the President, who is chief executive officer tasked to administer programs, submit policies for consideration, supervise operations, submit annual reports, and perform other functions assigned by the Board or Executive Committee (Section 8).
Initially, its operations are financed through contributions from the founding institutions as stated in Section 9, with a Development Academy of the Philippines Endowment Fund created to achieve financial self-sufficiency.
No, expenditures and disbursements by the Academy are not subject to procurement requirements and restrictions imposed on government agencies and government-owned or controlled corporations as per Section 10.
Donations, contributions, and financial aid to the Academy are exempt from taxes and deductible from donor income taxes. The Academy itself, including its assets and operations, is exempt from all taxes, fees, imposts, licenses, and assessments except import taxes and duties (Section 12).
After returning the principal of the Endowment Fund to founding institutions and payment of liabilities, remaining assets are turned over to institutions dedicated to similar pursuits or to the Republic of the Philippines as decided by the Board of Trustees (Section 13).
The Productivity and Development Center of the National Economic and Development Authority had its functions, assets, funds, properties, and budget appropriations transferred to the Academy (Section 14).