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KAIST U S FOUNDATION INC: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
KAIST U S FOUNDATION INC (EIN 26-0385131)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-13
IRS object ID
202123179349302457
Schema version
2020v4.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2021-11-13T17:21:52-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN202227407PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CKP LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13435 WILSHIRE BL STE 2240AddressLine1Txt
CityLOS ANGELESCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90010ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN260385131EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1KAIST US FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlKAISBusinessNameControlTxt
Phone2134809100PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1CO CKP 3435 WILSHIRE BLVD NO 22AddressLine1Txt
CityLOS ANGELESCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90010ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJE WOO KIMPersonNm
Person TitleSECRETARYPersonTitleTxt
Phone2134809100PhoneNum
Signature2021-11-13SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstJEPersonFirstNm
Person LastWOO KIMPersonLastNm
FieldValueIRS element (for citing)
SSN888008888SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonKIHO CHOIPreparerPersonNm
PTINP00545677PTIN
Phone2134809100PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerJE WOO KIMPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13003 N 1ST STAddressLine1Txt
CitySAN JOSECityNm
State AbbreviationCAStateAbbreviationCd
ZIP95134ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$111,076GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressN/AWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2007FormationYr
Legal Domicile StateMALegalDomicileStateCd
Activity Or MissionTHE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES, TO THE BENEFIT, TO PERFORM FUNCTIONS, OR TO CARRY OUT THE CHARITABLE PURPOSES OF THE KOREA ADVANCED INSTITUTE OF SCIENCE AND TECHNOLOGY (KAIST) AND ANY OTHER EDUCATIONAL INSTITUTION.ActivityOrMissionDesc
Voting Members Governing Body6VotingMembersGoverningBodyCnt
Voting Members Independent6VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$130,950PYContributionsGrantsAmt
CY Contributions Grants$5,500CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$52,008PYOtherRevenueAmt
CY Other Revenue$105,576CYOtherRevenueAmt
PY Total Revenue$182,958PYTotalRevenueAmt
CY Total Revenue$111,076CYTotalRevenueAmt
PY Grants And Similar Paid$132,350PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$169,837PYOtherExpensesAmt
CY Other Expenses$143,550CYOtherExpensesAmt
PY Total Expenses$302,187PYTotalExpensesAmt
CY Total Expenses$143,550CYTotalExpensesAmt
PY Revenues Less Expenses-$119,229PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$32,474CYRevenuesLessExpensesAmt
Total Assets BOY$1,688,374TotalAssetsBOYAmt
Total Assets EOY$1,655,900TotalAssetsEOYAmt
Total Liabilities BOY$26,336TotalLiabilitiesBOYAmt
Total Liabilities EOY$26,336TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,662,038NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$1,629,564NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES, TO THE BENEFIT, TO PERFORM FUNCTIONS, OR TO CARRY OUT THE CHARITABLE PURPOSES OF THE KOREA ADVANCED INSTITUTE OF SCIENCE AND TECHNOLOGY (KAIST) AND ANY OTHER EUDUCATIONAL INSTITUTIONS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
DescTHE FOUNDATION DONATES TO KAIST DEVELOPMENT FOUNDATION FOR THE PURPOSE OF THE KAIST COLLEGE OF BUSINESS STUDENTS AND ALUMNI TO CREATE, RESEARCH AND SUPPORT VENTURE FIRMS. NO DONATE WAS MADE IN 2020.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
DescTHE FOUNDATION DONATES TO KAIST DEVELOPMENT FOUNDATION FOR THE PURPOSE OF CHI, YOUNGSUK CAMBODIAN VOLUNTEERS PROGRAM SPONSORSHIP. NO DONATE WAS MADE IN 2020.Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
DescTHE FOUNDATION DONATEDS TO KAIST DEVELOPMENT FOUNDATION FOR THE PURPOSE OF THE KAIST, KEIO, TSINGHUA (KKT) WORKSHOP. NO DONATION WAS MADE IN 2020.Desc
FieldValueIRS element (for citing)
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members6GoverningBodyVotingMembersCnt
Independent Voting Member6IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn Body0Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldMAStatesWhereCopyOfReturnIsFldCd
States Where Copy Of Return Is FldCAStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1KIHO CHOIBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2134809100PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13435 WILSHIRE BLVD STE 2240AddressLine1Txt
CityLOS ANGELESCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90010ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (6 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
SUNG CHUL SHIN
PRESIDENT5.00Yes (X)Yes (X)$0$0$0
JEWOO KIM
TREASURER5.00Yes (X)$0$0$0
JEWOO KIM
SECRETARY5.00Yes (X)$0$0$0
SUNG CHUL SHIN
DIRECTOR5.00Yes (X)$0$0$0
YOUNGSUK CHI
DIRECTOR5.00Yes (X)Yes (X)$0$0$0
JEWOO KIM
DIRECTOR5.00Yes (X)Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
All Other Contributions$5,500AllOtherContributionsAmt
Total Contributions$5,500TotalContributionsAmt

Gross Rents GrossRentsGrp

FieldValueIRS element (for citing)
Real$105,576RealAmt

Less Rental Expenses LessRentalExpensesGrp

FieldValueIRS element (for citing)
Real$0RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$105,576RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$105,576TotalRevenueColumnAmt
Related Or Exempt Func Income$105,576RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$111,076TotalRevenueColumnAmt
Related Or Exempt Func Income$105,576RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$9,000TotalAmt
Management And General$9,000ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$50,375TotalAmt
Management And General$50,375ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$7,420TotalAmt
Management And General$7,420ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtManagement And GeneralManagementAndGeneralAmt
FACILITY MANAGEMENT SER$39,798$39,798
LICENSES AND TAXES$32,537$32,537
PENALTY$4,145$4,145
BANK CHARGE$275$275

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$143,550TotalAmt
Program Services$0ProgramServicesAmt
Management And General$143,550ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$10,624BOYAmt
EOY$28,525EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$1,935,000LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$307,625LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$1,677,750BOYAmt
EOY$1,627,375EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$1,688,374BOYAmt
EOY$1,655,900EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$9,000BOYAmt
EOY$9,000EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$17,336BOYAmt
EOY$17,336EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$26,336BOYAmt
EOY$26,336EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,662,038BOYAmt
EOY$1,629,564EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,662,038BOYAmt
EOY$1,629,564EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,688,374BOYAmt
EOY$1,655,900EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$32,474ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewYes (1)AccountantCompileOrReviewInd

Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
FS Audited0FSAuditedInd
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$16,035CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$323,129CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$253,030CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$130,950CurrentTaxYearMinus1YearAmt
Current Tax Year$5,500CurrentTaxYearAmt
Total$728,644TotalAmt

Tax Rev Levied Orgnztnl Bnft170 TaxRevLeviedOrgnztnlBnft170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$51,874CurrentTaxYearMinus4YearsAmt
Total$51,874TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$67,909CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$323,129CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$253,030CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$130,950CurrentTaxYearMinus1YearAmt
Current Tax Year$5,500CurrentTaxYearAmt
Total$780,518TotalAmt
FieldValueIRS element (for citing)
Public Support Total170$780,518PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus2 Years$1,140CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$52,008CurrentTaxYearMinus1YearAmt
Current Tax Year$105,576CurrentTaxYearAmt
Total$158,724TotalAmt
FieldValueIRS element (for citing)
Total Support$939,242TotalSupportAmt
Public Support CY1700.83100PublicSupportCY170Pct
Public Support PY1700.94490PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$423,765InvestmentCostOrOtherBasisAmt
Book Value$423,765BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$1,511,235InvestmentCostOrOtherBasisAmt
Depreciation$307,625DepreciationAmt
Book Value$1,203,610BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$1,627,375TotalBookValueLandBuildingsAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE D, PART XIIIFormAndLineReferenceDesc
ExplanationFIN 48 FOOTNOTE: ON JANUARY 1, 2009, THE FOUNDATION ADOPTED THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX PROVISIONS AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, WITH NO CUMULATIVE EFFECT ADJUSTMENT REQUIRED. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE FOUNDATION HAS ANALYZED THE TAX POSITIONS TAKEN IN ITS FILINGS WITH THE IRS AND STATE JURISDICTIONS WHERE IT OPERATES. THE FOUNDATION BELIEVES THAT ITS INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE AFFECT ON THE FOUNDATION'S FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS. ACCORDINGLY, THE FOUNDATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2020.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BTHE TAX RETURN IS PRESENTED TO GOVERNING BODY OF THE ORGANIZATION BEFORE FILING FOR APPROVAL.
FORM 990, PART VI, SECTION B, LINE 12CTHE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS/CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. THE GOVERNING BOARD REQUIRES ALL BOARD MEMBERS TO FILE AN ANNUAL STATEMENT OF COMPLIANCE WITH THE ORGAIZATION'S POLICIES. ADDITIONALY, THE ORGANIZATION MONITORS THE STATUS OF BOARD OF DIRECTOR MEMBERS FOR ANY CONFLICT OF INTEREST EXISTS.
FORM 990, PART VI, SECTION C, LINE 19THE ORGANIZATION MAINTAINS BOARD OF DIRECTORS MEETING MINUTES AS WELL THE SIGNATURE OF ALL BOARD MEMBERS. THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY.
FORM 990, PART XII, LINE 2CTHE ORGANIZATION HAS A COMMITTEE THAT OVERSEES FINANCIAL STATEMENTS REVIEW. THERE WERE NO CHANGES IN THE COMMITTEE IN FISCAL YEAR 2020.

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