Taking Stock and Finishing Strong

A Message from USPAA President Yari Miralao '88

October 2023 marks the 8th month that your current Board of Trustees (“BOT”) was entrusted with the leadership of the Upsilon Sigma Phi Alumni Association (“USPAA”). And as the year comes to an end, I – on behalf of the BOT - would like to take this opportunity to update you on what (a) has been accomplished to date, (b) what is targeted for the end of the year, and (c) will be prioritized for 2024.

Good Governance

The USPAA has grown exponentially over the years and now has significant assets under management and multi-year programs and initiatives that need to be institutionalized, strengthened, and sustained. To do so, good governance of the USPAA’s affairs is key if the current BOT is to sustain this momentum going forward.

As of the 2nd quarter of 2023, the USPAA has been fully compliant with all regulatory and tax statutory requirements mandated by the government including, among others, the Securities and Exchange Commission, Bureau of Internal Revenue (“BIR”), Local Government Unit, and the Philippine Intellectual Property Office. In addition, it has also secured a Certificate of Tax Exemption from the BIR that gives the association tax-free status until 2025. Furthermore, the USPAA has been fastidious in keeping meeting minutes and passing board resolutions authorizing all corporate actions for future reference of the brods and USPAA boards.

Good governance is the foundation of any successful organization, and your current set of trustees is fully committed to professionally manage the USPAA like any other top-tier corporate entity in the Philippines.

Financial Transparency and Custodianship

The BOT understands that transparency and accountability is a prerequisite if it is to maintain the trust of the brods who so generously support the USPAA’s programs and initiatives.

With assets on its balance sheet of ~Php 19 million (w/ no liabilities), a 2023 annual operating budget of ~Php 1.5 million, and a 2023 capital expenditure program of ~Php 3.5 million, the BOT has embarked on a three-step program that includes (a) maintaining robust accounting and controls, (b) auditing and accounting for the associations funds, and (c) developing a regular reporting protocol for the brods to access.

While accounting controls are in place to assure the integrity of the USPAA’s finances, the BOT continues to finish its audit of the association’s funds and has yet to produce a regular financial reporting protocol for the Fellowship - both of which are targeted to be in completed in the first half of 2024.

In the interim, the BOT has taken extra steps to reach out to various Upsilon groups - including the Upsilon Sigma Phi Alumni Association of North America (“USPNA”), Upsilon Sigma Phi Los Banos Alumni Association (“USPAALB”) Diliman Lights, Cubao Rangers, Alabang Kapelyoship, Batch ’65, and Batch Leaders - to present the USPAA’s projects, programs, and finances.

As a standing policy, the BOT welcomes any opportunity to present to the Fellowship and encourages the brods to reach out to USPAA Executive Director, Cai Monteser ’17 (caimonteser@gmail.com) to schedule an appointment.

The Upsilon Medical Assistance Program

In July of 2021, the USPAA established the Upsilon Medical Assistance Program (“UMAP”) and Permanent Endowment Fund (“PEF”) to assist brods and their families with their medical needs.

For the Period January to October 2023, the UMAP has addressed 143 triage cases of Upsilonians and their families (approximately 1 case closed every 2 days) and provided financial assistance to 19 brods amounting to Php 600 thousand (approximately 1.9 brods a month or Php 60k in financial assistance a month).

The UMAP also includes a PEF component where Php 50 million has been targeted to be raised by July of 2026. To date, the PEF is 40% funded with ~Php 20 million invested in various accounts including Metrobank Trust (PH) and The Vanguard Group (US). For 2024, the USPAA will be embarking on a targeted campaign to bring the PEF balance closer to its Php 50 million goal.

Asset Management

Over the years the Upsilon has built monuments for itself which include the (a) UP Promenade and National Historical Marker in Diliman and (b) Kapit-Kapit Installation and Bike Rack in Los Banos. All these installations are exposed to the elements and subject to wear and tear that require periodic maintenance and repair.

For the first half of 2023 the USPAA has restored the Kapit-Kapit Installation in Los Banos. For the second half of the year, the USPAA has embarked on a Php 3 million restoration of the UP Prominade in Diliman which is expected to be completed by the end of the year.

Asset management is a key function of the USPAA and this BOT commits to keep all of Upsilon monuments and installations in “like-new” condition.

The Learning Center

In March of 2023, the USPAA entered into certain agreements with Batch ’85 which include: (a) a 20-year Usufruct Agreement for the use of a 3-storey house close to the Diliman Campus (the “Learning Center”) and (b) a Deed of Assignment for the use of a brand-new minivan (collectively the “Agreements”).

Under the Agreements, the USPAA is responsible for (a) operations, maintenance, and upkeep of the Learning Center and the mini-van and (b) transforming the Learning Center into a place of learning for the residents and fellowship for the Alumni.

Since the turnover in April 2023, the USPAA has maintained and upgraded the Learning Center. Use of these facilities by both residents and alumni have also grown and – by the end of the year – the first series of Leaderships Seminars will be conducted.

The dream of a fraternity house has long been talked about in the Upsilon. Slowly but surely the USPAA intends to fully operationalize the Learning Center for the benefit of all the brods to use and enjoy.

Resident Support

The residents are the future of the fraternity and the USPAA is fully committed to support them through various collaborations and initiatives.

For 2023, the USPAA has allocated and disbursed Php 300 thousand for various resident initiatives including USC elections, Bar Exam and Medical Licensure Exam operations, recruitment events, Upsilon Month activities, and a testimonial dinner for the new Fellows of batches 2021 and 2022.

The USPAA is also expanding its alumni-resident mentoring program and recently allocated Php 180k for the training of 20 additional alumni mentors. By 2024, the USPAA mentoring program will have 40 mentor-mentee pairs spread across Diliman and Los Banos.

The USPAA also implemented a job-placement program for graduating resident Fellows. For 2023, 25 residents graduated of which the USPAA was able to facilitate in the employment of two Fellows at PEZA and the Araneta Group of Companies. For 2024, the USPAA intends to work in closer collaboration with the residents to make sure that our young brods have as many career opportunities available to them when they graduate.

Finally, the USPAA continues to provide the residents with guidance when appropriate. In the first half of 2023, the USPAA legal team met with the residents of Diliman and Los Banos to discuss compliance with the Anti-Hazing Law (Republic Act No. 8049)

The Upsilon Sun

In July of 2023, The USPAA relaunched the Upsilon Sun. With more than 3,000 Fellows across various generations, geographies, professions, and interests, the Upsilon Sun is primarily intended to be a common platform for the brods to communicate and receive information about the fraternity.

The Upsilon Sun also serves a second purpose as the first official digital archive of our history. And while it may not be fully apparent today, the USPAA is confident that – over time – we will have a rich collection of news and stories of the Upsilon that the brods can look back to in the years and decades to come.

Enabling Fellowships

Fellowship is the lifeblood of the Upsilon and the USPAA is committed to promote and fellowships throughout the year. For 2023, the USPAA hosted the Layas Pakadto sa Visayas in Iloilo (April), Diliman Lights (July), Cubao Rangers (August), and Batch Leaders (September).

In addition to directly supporting fellowships, the USPAA is also supporting the Pumapalo Brods 40th anniversary this November and the USPNA’s 25th anniversary reunion in Vegas scheduled for May 2024.

The Upsilon Store

In October of 2023, the USPAA re-launched the Upsilon Store to provide brods with high-quality Upsilon merchandise. We encourage the brods to visit the Upsilon Store and look forward to developing a product line that meets every brods interest.

Final Rites

The Fellowship has 20-25 brods who pass on each year and the USPAA is committed to honor our passing brods with Final Rites and a wreath at their wake.

For the period January to October 2023, 16 brods have passed on – all of whom have been given Final Rites and a wreath at their wake.

The SpreadLight Program

The SpreadLight program is intended to bring Fellowship to brods who – for various health reasons - are not able to attend Upsilon events.

For the period January to October 2023, 6 SpreadLight activities have been organized by the USPAA.

The Upsilon Directory

Having an updated Upsilon Directory has been a long-standing tradition of the Upsilon. The USPAA intends to revive the Upsilon Directory and will be a priority project for 2024.

Final Thoughts

Brods, it has been and honor and privilege, to serve our beloved Fraternity. And while there is a lot of work that still needs to be done, we are proud of what has been accomplished to date. For the balance of the year, we look forward to completing the restoration of the UP Promenade and launching the Masterclass Leadership Series at the LC. For 2024, we look forward to relaunching the Upsilon Directory, expanding the Mentoring Program, funding the UMAP PEF in 2024, and improving the USPAA’s financial transparency and reporting.

All of this would not be possible without the support and the generosity of the brods. So we thank you for your continued support for the USPAA and hope you find this update informative. In the next few weeks, the BOT will be issuing its year-end report with more detailed information of the USPAA’s programs, initiatives, and finances.

Fraternally yours,

Yari ’88 on behalf of the USPAA Board of Trustees