2008 President's Report

SK Antonio B. Borromeo: President, KCFAPISK Antonio B. Borromeo
Read his profile, click here!
The year 2008 marks an important milestone of Knights of Columbus Fraternal Association of the Philippines, Inc. as it commemorates its 50th year of being faithful and true to the vision of the Association’s founders – Rev. Fr. George J. Willmann, S.J., and the 64 founder-members composed of Knights of Columbus councils and brother knights. It is also the year the global economy experienced one of the greatest downfalls that did not spare even the biggest corporate players in the industry. Despite the heavy barriers, KCFAPI ended the year with commendable feat. It is then my honor and privilege to share with you the highlights of performance of your Association in celebration of its 50 years of fraternal service.

…our Fraternal Service Fulfillment

First Year Contribution IncomeFirst Year Contribution Income

  • Php8.74 Billion Total Protection Benefits was provided during the year.
  • Php1.11 Billion Group Protection Benefits were provided to 31,201 Brother Knights and family members.
  • Free Fraternal Accidental Death Benefit coverage was extended to 46,633 KC members by year end.
  • FB Conventions helped push our First Year Contribution Income to Php102.83 Million, exceeding the Php100 Million target for 2008 and 26.49% higher than the previous year’s Php81.30 Million.
  • Benefits Availment Rate climbed to 30.37% from only 23.99% in 2007.
  • Paid out Total Fraternal Benefits Claims and Surrenders amounting to Php150.4 Million from Php146.6 Million in 2007.
  • Php89.9 Million in Benefit Certificate Loans were extended to 2,977 Benefit Certificate holders from Php77.6 Million or 2,894 in the previous year.
  • The complete Gold Series Plans (KC C.A.R.E.S.) designed to answer the different needs of Brother Knights and their family members were launched: KC Capital Accumulator Plan, KC Assurance Plan, KC Retire Plus Plan, Enhanced College Savings Plan and Super Saver Plan.

…our focus, the Benefit Certificate Holders and KC Market

  • Continued ISO certification, proof that we are at par with global standards.
  • BC Holder Bonanza where a family won a free trip to Hong Kong Disneyland, our way of expressing our gratitude for the continued support of BC Holders to the Association.
  • Participated in the Order’s KC Family Day activity in coordination with the three (3) jurisdictions: Luzon, Visayas and Mindanao.
  • KC-ing Galing, an all male chorale competition, gave an opportunity for various councils to showcase their talents by presenting their own rendition of The Hands of Love, the KCFAPI song.
  • “The Cross” – is an innovative move in bringing information about the Association to its BC Holders and soon to be patrons of the KC Fraternal Plans.
  • KCFAPI’s history and milestones were highlighted in the KCFAPI Coffeetable Book which was launched before the Golden Jubilee Ball.
  • Recorded 905 active Fraternal Counselors committed to continue KCFAPI’s mission to provide optimum fraternal benefits to Brother Knights and families nationwide.

…our Finance and Investment Management

Excess of RevenueExcess of Revenue

  • Revenues before participation of Benefit Certificate Holders amounted to Php95.39 Million, 86.92% better than the previous year’s Php51.03 Million.
  • A total of Php53.50 Million was declared as BC Holders’ share to the net operations of the Association.
  • Investment portfolio by end of 2008 is Php2.51 Billion.
  • Investment income (inclusive of subsidiaries) reached Php248.74 Million, 63.03% higher than Php152.53 Million in 2007. Investment yield reached 11.16%.
  • Total Assets maintained its increasing trend and reached Php2.71 Billion, 14.42% higher than Php2.37 Billion the previous year
  • Total Networth amounted to Php536.06 Million.
  • Operating expense ratio was 25.38% compared to 22.13% from 2007.

…our Talent Management and Corporate Social Responsibility

  • Various seminars such as the Leadership Basics Seminar conducted by Harry Pound Company during the latter part of the year offered renewed inspiration and motivation especially to new leaders of the organization.
  • A special Christmas celebration dubbed “Paskong KC-ya” was organized by a group of volunteer employees where young residents of Senden Home Foundation, Inc. (a temporary shelter for homeless boys) were invited over at KCFAPI Head Office, Intramuros.
  • Through KC Philippines Foundation, Inc., and in coordination with the Gawad Kalinga Foundation, employees took active participation in the bayanihan efforts and built 10 housing units at Tungkong Mangga, Bulacan.
  • Established the Php10 Million CBCP Seed of Hope fund wherein earnings of the fund will be used to finance the priority projects of CBCP.
  • KC Philippines Foundation, Inc. and KC Fr. George J. Willmann Charities, Inc. supported and continue to support deserving scholars
Current Scholars (2009-2010) Graduated Scholars
Theology - 29 Ordained Priests (Theology) - 107
Collegiate 73 Licentiate, Local - 9
Licentiate, Local - 3 Licentiate, Rome - 21
Licentiate, Rome - 1 Collegiate Scholarship - 245
  Vocational Scholarship - 114
  High School - 1

…our norm, Transparency and Good Corporate Governance

  • Integrity, transparency and high professional performance should be observed at all times. In November 2008, the Board of Trustees approved and adopted the Corporate Governance Manual for KC Fraternal.

In the years to come…

KCFAPI’s celebration of Golden Jubilee marked another milestone in its corporate life. The Golden Jubilee Ball held at the Manila Hotel on September 13, 2008 culminated the year-long celebration of the Association. The 50 successful years of KCFAPI was due to the relentless support and dedication of its Board of Trustees, Board of Advisors, Officers, Staff, Area Managers and Fraternal Counselors who are committed in fulfilling the thrust initiated by Fr. George J. Willmann, S.J. In behalf of KCFAPI family, I would like to extend our sincerest gratitude to you, our BC Holders, for your continued patronage of your Association.

Amid the crisis the global economy is experiencing, your Association foresees a challenging future ahead for the industry. While KCFAPI will be affected, the Association plans to take the challenge head on and sustain its growth through fortified fraternal service. Other products, efficient services and innovations have been lined up to move the organization towards the future. KCFAPI remains steadfast in its commitment to provide protection to all Brother Knights and their families.

This is Venerable Fr. Michael J. McGivney’s dream, echoed across the country by our very own
Fr. George J. Willmann, and living today in the hearts of his brothers and all of those whose lives KCFAPI has touched.

Vivat Jesus!
SK Antonio B. Borromeo
President

Father of Knights of Columbus in the Philippines

 

Get your daily Knights of Columbus Philippines RSS feeds here!

Syndicate content