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KAIST U S FOUNDATION INC: Form 990, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
KAIST U S FOUNDATION INC (EIN 26-0385131)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-09-15
IRS object ID
201522589349301307
Schema version
2014v5.0
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)
Return2015-09-15T16:37:32-05:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN202227407PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CHOI KIM & PARK LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13435 WILSHIRE BLVD STE 2240AddressLine1Txt
CityLOS ANGELESCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90010ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2014-01-01TaxPeriodBeginDt

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 Line1C/O CKP 3435 WILSHIRE BLVD NO 2240AddressLine1Txt
CityLOS ANGELESCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90010ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSUNG MO KANGPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone2134809100PhoneNum
Signature2015-09-15SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonKIHO CHOIPreparerPersonNm
PTINP00545677PTIN
Phone2134809100PhoneNum
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-03-07 17:11:31ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Principal OfficerSUNG MO KANGPrincipalOfficerNm
Gross Receipts$2,105,151GrossReceiptsAmt
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$110,030PYContributionsGrantsAmt
CY Contributions Grants$2,105,000CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$1,600PYInvestmentIncomeAmt
CY Investment Income$151CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$111,630PYTotalRevenueAmt
CY Total Revenue$2,105,151CYTotalRevenueAmt
PY Grants And Similar Paid$100,000PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$170,000CYGrantsAndSimilarPaidAmt
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$31,990PYOtherExpensesAmt
CY Other Expenses$90,750CYOtherExpensesAmt
PY Total Expenses$131,990PYTotalExpensesAmt
CY Total Expenses$260,750CYTotalExpensesAmt
PY Revenues Less Expenses-$20,360PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$1,844,401CYRevenuesLessExpensesAmt
Total Assets BOY$422,116TotalAssetsBOYAmt
Total Assets EOY$2,266,517TotalAssetsEOYAmt
Total Liabilities BOY$13,500TotalLiabilitiesBOYAmt
Total Liabilities EOY$13,500TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$408,616NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$2,253,017NetAssetsOrFundBalancesEOYAmt
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
Expense$170,000ExpenseAmt
Grant$170,000GrantAmt
DescTHE FOUNDATION DONATED TO KAIST DEVELOPMENT FOUNDATION (KOREA) TO BUILD NEW FACILITIES, KAIST INSTITUTE BUILDING, DONALD KIM CENTER OF CHEMICAL BIOLOGY, AND KAIST MEDICAL CENTER.Desc
Total Program Service Expenses$170,000TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Temp Or Permanent Endowments0TempOrPermanentEndowmentsInd
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 StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign ActivitiesYes (1)ForeignActivitiesInd
More Than5000 K To OrgYes (1)MoreThan5000KToOrgInd
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 With Officer Ent0BusinessRlnWithOfficerEntInd
Deductible Non Cash ContriYes (1)DeductibleNonCashContriInd
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
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
NEIL PAPPALARDO
DIRECTOR5.00Yes (X)Yes (X)$0$0$0
SUNG MO KANG
PRESIDENT5.00Yes (X)Yes (X)$0$0$0
STEVE KAHNG
TREASURER5.00Yes (X)$0$0$0
JEWOO KIM
SECRETARY5.00Yes (X)$0$0$0
PAPKEN DER TOROSSIAN
DIRECTOR5.00Yes (X)Yes (X)$0$0$0
YOUNGSUK CHI
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$2,105,000AllOtherContributionsAmt
Total Contributions$2,105,000TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$151TotalRevenueColumnAmt
Related Or Exempt Func Income$151RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,105,151TotalRevenueColumnAmt
Related Or Exempt Func Income$151RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$170,000TotalAmt
Program Services$170,000ProgramServicesAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$28,768TotalAmt
Management And General$28,768ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$55,101TotalAmt
Management And General$55,101ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$1,391TotalAmt
Management And General$1,391ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$5,375TotalAmt
Management And General$5,375ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (2 entries)

DescDescTotalTotalAmtManagement And GeneralManagementAndGeneralAmt
LICENSES AND TAXES$70$70
BANK CHARGE$45$45

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$260,750TotalAmt
Program Services$170,000ProgramServicesAmt
Management And General$90,750ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$422,116BOYAmt
EOY$336,892EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$1,935,000LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$5,375LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$1,929,625EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$422,116BOYAmt
EOY$2,266,517EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$13,500BOYAmt
EOY$13,500EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$13,500BOYAmt
EOY$13,500EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$398,616BOYAmt
EOY$308,017EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$10,000BOYAmt
EOY$1,945,000EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$408,616BOYAmt
EOY$2,253,017EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$422,116BOYAmt
EOY$2,266,517EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$1,844,401ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
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$300,419CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$195,535CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$151,238CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$110,030CurrentTaxYearMinus1YearAmt
Current Tax Year$2,105,000CurrentTaxYearAmt
Total$2,862,222TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$300,419CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$195,535CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$151,238CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$110,030CurrentTaxYearMinus1YearAmt
Current Tax Year$2,105,000CurrentTaxYearAmt
Total$2,862,222TotalAmt
FieldValueIRS element (for citing)
Public Support Total170$2,862,222PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$21,346CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$9,459CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$12,153CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,600CurrentTaxYearMinus1YearAmt
Current Tax Year$151CurrentTaxYearAmt
Total$44,709TotalAmt
FieldValueIRS element (for citing)
Total Support$2,906,931TotalSupportAmt
Public Support CY1700.98460PublicSupportCY170Pct
Public Support PY1700.91710PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$1,935,000InvestmentCostOrOtherBasisAmt
Depreciation$5,375DepreciationAmt
Book Value$1,929,625BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$1,929,625TotalBookValueLandBuildingsAmt
Total Rev Etc Audited Fincl Stmt$2,105,151TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$2,105,151RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$2,105,151TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$260,750TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$260,750ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$260,750TotalExpensesPerForm990Amt

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, 2014.ExplanationTxt

Schedule F IRS990ScheduleF

FieldValueIRS element (for citing)
Grant Records Maintained0GrantRecordsMaintainedInd

Account Activities Outside US AccountActivitiesOutsideUSGrp

FieldValueIRS element (for citing)
RegionSOUTH KOREARegionTxt
Offices0OfficesCnt
Employee0EmployeeCnt
Type Of Activities ConductedTHE FOUNDATION DONATED TO KAIST DEVELOPMENT FOUNDATION (KOREA) TO BUILD NEW FACILITIES.TypeOfActivitiesConductedTxt
Specific Services ProvidedBUILDS NEW FACILITIES, KAIST INSTITUTE BUILDING, DONALD KIM CENTER OF CHEMICAL BIOLOGY, AND KAIST MEDICAL CENTER.SpecificServicesProvidedTxt
Region Total Expenditures$170,000RegionTotalExpendituresAmt
FieldValueIRS element (for citing)
Subtotal Offices0SubtotalOfficesCnt
Subtotal Employees0SubtotalEmployeesCnt
Continutation Total Office0ContinutationTotalOfficeCnt
Continutation Total Employee0ContinutationTotalEmployeeCnt
Total Office0TotalOfficeCnt
Total Employee0TotalEmployeeCnt
Subtotal Spent$170,000SubtotalSpentAmt
Continuation Spent$0ContinuationSpentAmt
Total Spent$170,000TotalSpentAmt

Grants To Org Outside US GrantsToOrgOutsideUSGrp

FieldValueIRS element (for citing)
RegionSOUTH KOREARegionTxt
Purpose Of GrantTHE FOUNDATION DONATED TO KAIST DEVELOPMENT FOUNDATION (KOREA) TO BUILD NEW FACILITIES, AKIST INSTITUTE BUILDING, DONALD KIM CENTER OF CHEMICAL BIOLOGY AND KAIST MEDICAL CENTERPurposeOfGrantTxt
Cash Grant$170,000CashGrantAmt
Manner Of Cash DisbursementWIRE THROUGH FINANCIAL INSTITUTION(BANK)MannerOfCashDisbursementTxt
Non Cash Assistance$0NonCashAssistanceAmt
FieldValueIRS element (for citing)
Transfer To Foreign Corp0TransferToForeignCorpInd
Interest In Foreign Trust0InterestInForeignTrustInd
Foreign Corp Ownership0ForeignCorpOwnershipInd
Passive Foreign Investmest Co0PassiveForeignInvestmestCoInd
Foreign Partnership0ForeignPartnershipInd
Boycott Countries0BoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 2:FormAndLineReferenceDesc
ExplanationTHE CHAIRMAN AND A BOARD MEMBER REVIEW AND FOLLOW UP ON THE GRANTS DISBURSED TO THE BENEFICIARIES TO ENSURE THAT RESTRICTED FUNDS WERE PROPERLY USED BY KAIST DEVELOPMENT FOUNDATION (KOREA) AS WELL AS KAIST INTERNATIONAL ALUMNI ASSOCIATION.ExplanationTxt

Schedule M IRS990ScheduleM

Real Estate Commercial RealEstateCommercialGrp

FieldValueIRS element (for citing)
Non Cash CheckboxYes (X)NonCashCheckboxInd
Contribution1ContributionCnt
Noncash Contributions Rpt F990$1,935,000NoncashContributionsRptF990Amt
Method Of Determining RevenuesFMVMethodOfDeterminingRevenuesTxt
FieldValueIRS element (for citing)
Any Property That Must Be Held0AnyPropertyThatMustBeHeldInd
Review Process Unusual NC Gifts0ReviewProcessUnusualNCGiftsInd
Third Parties Used0ThirdPartiesUsedInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11THE 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 MUNUTES 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 2C:THE ORGANIZATION HAS A COMMITTEE THAT OVERSEES FINANCIAL STATEMENTS REVIEW. THERE WERE NO CHANGES IN THE COMMITEE IN FISCAL YEAR 2014.

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