Corregidor Foundation, Inc.

On July 10, 1986, the then Ministry of Tourism (now Department of Tourism or DOT), together with the Philippine Tourism Authority (now Tourism INfrastructure and Enterprise Authority or TIEZA) as Assignees, entered into a Memorandum of Agreement with the then Ministry of National Defense (now the Department of NAtional Defense), as Assignor, to develop the historic island of Corregidor, as well as the other surrounding islands, into a major tourist attraction of the Philippines.

Under the Agreement, the Assignor, with the prior approval of the President leases to the Assignee, for one peso (P1.00) a year for a period of 50 years, the entire area of Corregidor Island, including the surrounding islands as well as all waters and detached rocks surrounding them. The Assignee shall be responsible not only for the maintenance and preservation of war relics on the islands but also for the full development of its potentials as an international and local tourist destination, without, however, destroying its integrity as a war memorial and national shrine.

To pursue PTA’s obligations and objectives for Corregidor Island, Corregidor Foundation, Inc. (CFI) was initiated for creation by the PTA Board of Directors on February 16, 1987. On October 28, 1987, CFI was registered with the Securities and Exchange Commission as a non-stock, non-profit corporation with initial capitalization of P1,000.00. Grants came from Duty Free Philippines and donations from private individuals and counterpart foundations and organizations to rehabilitate Corregidor’s infrastructure and war memorials under the five-year Corregidor Tourism Masterplan (1987-1992).

From then on, CFI has undertaken the regular maintenance of all Corregidor’s facilities, memorial sites and World War II relics, as well as its security requirements, with the vision to be self-sustainable without government subsidy in the future.

The CFI mission is to maintain and preserve war relics on Corregidor Island and manage the development of its potentials as an internaitonal and local tourist destination.

The CFI vision is to be self-sustainable in the development of Corregidor by actively attracting more investments and soliciting donations that will provide support for the perpetual maintenance and preservation of its historical relics and facility infrastructures.

Integrity Self-estem Leading Accountability Nature-loving Diligence