2020-07-14T15:39:51-05:00 2019-12-31 133628255 CONDON O'MEARA MCGINTY & DONNELLY LLP ONE BATTERY PARK PLAZA NEW YORK NY 10004 990 2019-01-01 521714111 THE KOREA SOCIETY INC KORE 2127597525 350 MADISON AVENUE 24TH FLOOR NEW YORK NY 10017 THOMAS BYRNE PRESIDENT 2127597525 2020-07-09 1 JAMES J REILLY P00183769 2126617777 68.195.180.113 2020-07-09 09:25:24 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 8456209A529F0A54A22466BB41F537C3D8BD2447 2019 2021-01-29 14:40:06Z THOMAS BYRNE 350 MADISON AVENUE 24TH FLOOR NEW YORK NY 10017 7037906 0 X WWW.KOREASOCIETY.ORG X 1990 DC STRENTHENING THE BONDS OF AWARENESS, UNDERSTANDING & COOPERATION BETWEEN THE US & KOREA. 30 30 21 26 0 0 1864457 3005158 114840 151975 573988 517126 -38667 -74701 2514618 3599558 0 0 0 0 1051061 1141617 0 0 451434 1774679 1764544 2825740 2906161 -311122 693397 23988934 26318183 6423533 5852684 17565401 20465499 X SEE SCHEDULE O. 0 0 874573 4205 POLICY & CORPORATE: SEE SCHEDULE O. 357078 CONGRESSIONAL: SEE SCHEDULE O. 309318 MEDIA: SEE SCHEDULE O. 462089 147770 CULTURE: THE KOREA SOCIETY'S CULTURE PROGRAMS ENHANCE AND SUPPORT OUR TRADITIONAL WORK IN POLICY AND DIPLOMACY, AS WELL AS OUR NEW EMPHASIS ON ECONOMICS, FINANCE, AND TRADE. AUDIENCES IN NEW YORK CITY - THE CULTURAL CAPITAL OF THE WORLD - BOTH APPRECIATE AND EXPECT A CULTURAL COMPONENT TO NON-PROFIT WORK, AND THE KOREA SOCIETY DIFFERENTIATES ITSELF FROM THINK-TANKS AND TRADE-PROMOTION GROUPS BY THE ADDITION OF STRONG ARTS PROGRAMMING. THE KOREA SOCIETY HAS BUILT A REPUTATION FOR ITS GALLERY AS A PERMANENT, NON-PROFIT EXHIBITION SPACE FOR IMPORTANT KOREAN ART IN NEW YORK CITY. THE SOCIETY HAS FOCUSED ON KOREAN ARTISTS WITH WORKS IN MAJOR INTERNATIONAL INSTITUTIONS, AND WE LOOK FORWARD TO SHOWCASING MORE ART IN OUR SPACE.TOTAL NUMBER OF PROGRAM: 13TOTAL NUMBER OF CLIENTS SERVED: 744ARTS: THE KOREA SOCIETY ORGANIZES SEVERAL SPECIAL EVENTS DURING THE YEAR TO BRING TOGETHER ITS MEMBERS AND FRIENDS WHO SHARE AN INTEREST IN MAINTAINING AND ENHANCING THE BILATERAL RELATIONSHIP BETWEEN KOREA AND THE UNITED STATES. THE PRINCIPAL EVENTS ARE THE ANNUAL DINNER AND THE ANNUAL GOLF TOURNAMENT. WHILE BOTH EVENTS ARE FOCUSED PRIMARILY ON FUNDRAISING, THE EVENTS ALSO HAVE A SIGNIFICANT PROGRAMMATIC OBJECTIVE EACH YEAR. IN ADDITION, THE KOREA SOCIETY HOSTS SEVERAL MEMBERSHIP DEVELOPMENT, OUTREACH EVENTS AND YOUNG PROFESSIONAL NETWORK EVERY YEAR TO INTRODUCE AND PROMOTE KOREAN CULTURE, MUSIC, AND CUISINE. ANNUAL EVENTS INCLUDE A STUDENT NIGHT WHERE COLLEGE STUDENTS FROM OVER 50 UNIVERSITIES COME TOGETHER FOR AN EVENING OF FUN AND CELEBRATE THE NEW YEAR, CELEBRATE KOREA WHERE 200 OF OUR MEMBERS ATTEND A LUNAR NEW YEAR'S PARTY.TOTAL NUMBER OF PROGRAM: 13TOTAL NUMBER OF CLIENTS SERVED: 744KOREAN STUDIES PROGRAM: THE PROGRAMS IN THIS PROJECT AREA OFFER A VARIETY OF EDUCATIONAL OPPORTUNITIES FOR AMERICAN K-12 TEACHERS, OTHER EDUCATORS AND STUDENTS THAT ENHANCE THEIR KNOWLEDGE AND UNDERSTANDING OF KOREA. THE PROGRAMS ARE ORGANIZED INTO TWO BROAD CATEGORIES: 1) EDUCATIONAL & CULTURAL EXCHANGES WITH KOREA; AND 2) KOREAN STUDIES PROGRAMS IN THE UNITED STATES. THE U.S.-BASED COSTS INCURRED FOR ALL THE PROGRAMS IN THIS PROJECT AREA ARE COVERED BY THE KOREA SOCIETY WITH SUPPORT FROM A GRANT THAT HAS BEEN PROVIDED ANNUALLY FOR THIS PURPOSE BY THE FREEMAN FOUNDATION SINCE 1994.TOTAL NUMBER OF PROGRAMS: 24TOTAL NUMBER OF CLIENTS SERVED: 1,592 462089 147770 2003058 1 1 0 0 0 1 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 16 0 1 21 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 NY X X MARLENE MARSHALL 2127597525 350 MADISON AVENUE 24TH FL NEW YORK NY 10017 THOMAS C HUBBARD CHAIRMAN 2.00 X X 0 0 0 GREG CHOI SECRETARY 2.00 X X 0 0 0 CHONG-YUN PARK TREASURER 2.00 X X 0 0 0 CARTER BOOTH DIRECTOR 2.00 X 0 0 0 NICHOLAS BRATT DIRECTOR 2.00 X 0 0 0 SEOKMIN CHANG DIRECTOR 2.00 X 0 0 0 TAMI OVERBY DIRECTOR 2.00 X 0 0 0 WILLIAM CHO DIRECTOR 2.00 X 0 0 0 YOUNG HT CHO DIRECTOR 2.00 X 0 0 0 YOUNG YANG CHUNG DIRECTOR 2.00 X 0 0 0 YOUNG HOON EOM DIRECTOR 2.00 X 0 0 0 STAN GALE DIRECTOR 2.00 X 0 0 0 MARK GASTON DIRECTOR 2.00 X 0 0 0 SUSAN GREENWELL DIRECTOR 2.00 X 0 0 0 JI HOON HONG DIRECTOR 2.00 X 0 0 0 CHRISTOPHER BOTTIGLIERI DIRECTOR 2.00 X 0 0 0 SANG H PAK DIRECTOR 2.00 X 0 0 0 WILLIAM R RHODES DIRECTOR 2.00 X 0 0 0 GENE YOON DIRECTOR 2.00 X 0 0 0 KATHLEEN STEPHENS DIRECTOR 2.00 X 0 0 0 YONG SOHN DIRECTOR 2.00 X 0 0 0 GENERAL WALTER SHARP DIRECTOR 2.00 X 0 0 0 YUNG DUK KIM DIRECTOR 2.00 X 0 0 0 KWANG SOO KIM DIRECTOR 2.00 X 0 0 0 HAE-YOUNG KIM DIRECTOR 2.00 X 0 0 0 SONG K JUNG DIRECTOR 2.00 X 0 0 0 CHRISTOPHER R HILL DIRECTOR 2.00 X 0 0 0 JUNG HO SHIN DIRECTOR 2.00 X 0 0 0 PHILIP D SHERMAN DIRECTOR 2.00 X 0 0 0 MEE KIM DIRECTOR 2.00 X 0 0 0 THOMAS J BYRNE PRESIDENT 40.00 X 270000 0 39279 STEPHEN NOERPER SENIOR DIRECTOR OF POLICY 40.00 X 130000 0 14246 400000 0 53525 2 0 1 0 0 209465 658480 2137213 3005158 KOREAN STUDIES 900099 138800 138800 ARTS & CULTURE 900099 8970 8970 POLICY & CORPORATE 900099 4205 4205 151975 457579 457579 3226424 3166877 59547 59547 59547 194715 658480 271471 -76756 -76756 OTHER INCOME 900099 2055 2055 2055 3599558 151975 0 442425 309279 309279 687059 320895 206751 159413 2257 1428 468 361 84761 53610 17589 13562 58261 36849 12090 9322 1851 1203 315 333 23401 15209 3980 4212 160020 104003 27216 28801 20156 13100 3428 3628 821591 534034 139671 147886 10136 6590 1721 1825 138344 89922 23520 24902 16242 10556 2763 2923 PROGRAM COSTS 500475 459258 41217 EQUIP. RENTAL & MAINTEN 36564 23765 6218 6581 OTHER EXPENSES 35764 23357 5939 6468 2906161 2003058 451669 451434 1260493 1249703 1370863 524604 28727 557695 4230 255405 9316 27605 1550534 275723 1405735 1274811 13918899 16976110 5990671 5452250 23988934 26318183 64436 45910 6359097 5806774 6423533 5852684 X 7851815 10222945 9713586 10242554 17565401 20465499 23988934 26318183 693397 2206701 0 X 0 1 X 1 0 X 1557500 2844552 2013809 1864457 3005158 11285476 1557500 2844552 2013809 1864457 3005158 11285476 4837305 6448171 296471 280964 297691 317342 457579 1650047 22612 14182 14 14762 2055 53625 12989148 591608 0.49640 0.52890 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2015 AMOUNT: $ 22,612. 2016 AMOUNT: $ 14,182. 2017 AMOUNT: $ 14. 2018 AMOUNT: $ 14,762. 2019 AMOUNT: $ 2,055. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2 1167079 1 1 175260 X 0 16778241 858968 -1209283 18846492 17132468 20000 374227 16778241 12764414 4891100 523046 17132468 12194889 988000 418475 12764414 12625380 372000 802491 12194889 0.54350 0.42690 0.02960 0 0 1180100 236020 944080 195174 2822 192352 175260 36881 138379 1274811 RIGHT TO USE ASSET 5452250 5452250 LEASE LIABILITY 5806774 5806774 5806259 2206701 2206701 3599558 0 3599558 2906161 0 2906161 0 2906161 PART III, LINE 4: THE ARTWORK SUPPORTS THE SOCIETY'S MISSION TO PROMOTE GREATER AWARENESS AND UNDERSTANDING BETWEEN AMERICANS AND KOREANS Y ORGANIZING TRAVELING EXHIBITIONS OF KOREAN ART TO AMERICAN UNIVERSITIES/GALLARIES AND OTHER FACILITIES. PART V, LINE 4: PERMANENT ENDOWMENTS: THE ICNOME GENERATED IS USED FOR THE ORGANIZATION'S OPERATIONAL EXPENSE. TEMPORARILY RESTRICTED ENDOWMENTS: PROVIDES A SOURCE OF INCOME FOR A SPECIFIED PERIOD OF TIME OR UNTIL A SPECIFIC EVENT OCCURS. ANNUAL DINNER 702980 614780 88200 22747 108431 9369 41563 GOLF TOURNAMENT 150215 43700 106515 85271 2200 1890 853195 658480 194715 108018 108431 11569 43453 271471 -76756 X X 0 0 0 0 0 0 0 0 0 THOMAS J BYRNE PRESIDENT 270000 0 0 0 0 0 39279 0 0 0 309279 0 0 0 PART III, LINE 1 THE KOREA SOCIETY, INC. (THE "SOCIETY") IS A PRIVATE, NONPROFIT, NONPARTISAN, 501(C)(3) ORGANIZATION WITH INDIVIDUAL AND CORPORATE MEMBERS THAT IS DEDICATED SOLELY TO THE PROMOTION OF GREATER AWARENESS, UNDERSTANDING AND COOPERATION BETWEEN THE PEOPLE OF THE UNITED STATES AND KOREA. IN PURSUIT OF ITS MISSION, THE SOCIETY ARRANGES PROGRAMS THAT FACILITATE DISCUSSION, EXCHANGES AND RESEARCH ON TOPICS OF VITAL INTEREST TO BOTH COUNTRIES IN THE AREAS OF PUBLIC POLICY, BUSINESS, EDUCATION, INTERCULTURAL RELATIONS AND THE ARTS. FUNDING FOR THESE PROGRAMS IS DERIVED FROM CONTRIBUTIONS, ENDOWMENTS, GRANTS, MEMBERSHIP DUES AND PROGRAM FEES. FROM ITS BASE IN NEW YORK CITY, THE SOCIETY SERVES AUDIENCES ACROSS THE COUNTRY THROUGH ITS OWN OUTREACH EFFORTS AND BY FORGING STRATEGIC ALLIANCES WITH COUNTERPART ORGANIZATIONS IN OTHER CITIES THROUGHOUT THE UNITED STATES AS WELL AS IN KOREA. PART III, LINE 4A POLICY & CORPORATE: THE PROGRAMS IMPLEMENTED IN THIS PROJECT AREA REPRESENT AN EFFORT TO PROVIDE THE AMERICAN CORPORATE COMMUNITY WITH INFORMED PERSPECTIVES ON THE CRITICAL ISSUES THAT DEFINE U.S.-KOREA BUSINESS RELATIONS IN A RAPIDLY CHANGING GLOBAL ENVIRONMENT. JUST AS IN THE CASE OF PREVIOUS PROJECT, THE PROGRAMMING FORMAT ENTAILS ORGANIZING PUBLIC EVENTS SUCH AS FORUMS, PANEL DISCUSSIONS, SEMINARS AND HALF-OR-FULL-DAY CONFERENCES IN OUR OWN PREMISES AND THEN TO DISSEMINATE THE OUTCOMES OF THESE EVENTS TO AUDIENCES ALL ACROSS THE UNITED STATES-AND EVEN GLOBALLY-THROUGH AN EFFECTIVE USE OF NEW MEDIA CAPABILITIES.POLICY: THE PROGRAMS IMPLEMENTED IN THIS PROJECT AREA SEEK TO PROMOTE ENHANCED CROSS-CULTURAL UNDERSTANDING HIGHLIGHTING THE RICH DIVERSITY OF KOREA, IN BOTH ITS HISTORICAL AND CONTEMPORARY CONTEXTS, AND BY LINKING THIS DIVERSITY TO THE MAJOR ISSUES IN U.S.-KOREA RELATIONS TODAY. THE PROGRAMMING FORMAT ENTAILS ORGANIZING PUBLIC EVENTS SUCH AS FORUMS, LECTURES, PANEL DISCUSSIONS AND CONFERENCES IN OUR OWN PREMISES AND THEN DISSEMINATING THE OUTCOMES OF THESE EVENTS TO AUDIENCES ALL ACROSS THE UNITED STATES-AND EVEN GLOBALLY- THROUGH AN EFFECTIVE USE OF NEW MEDIA CAPABILITIES. TOTAL NUMBER OF PROGRAMS: 51 TOTAL NUMBER OF CLIENTS SERVED: 1,742 PART III, LINE 4B THE CONGRESSIONAL STUDY GROUP ON KOREA, ESTABLISHED IN PARTNERSHIP WITH THE KOREA FOUNDATION AND THE U.S. ASSOCIATION OF FORMER MEMBERS OF CONGRESS, WAS LAUNCHED IN FEBRUARY 2018; PRESIDENT TOM BYRNE PARTICIPATED IN THE INAUGURAL VISIT TO KOREA IN MAY 2018, ALONG WITH FIVE CURRENT MEMBERS OF CONGRESS THE WEEK AFTER THE HISTORICAL APRIL SUMMIT BETWEEN THE LEADERS OF SOUTH AND NORTH KOREA AT PANMUNJOM. THE CONGRESSIONAL STUDY GROUP ON KOREA IS MAINLY SUPPORTED BY THE KOREA FOUNDATION AND THE SOCIETY PARTNERS WITH THE ASSOCIATION FOR FORMER MEMBERS OF CONGRESS (FMC) IN WASHINGTON DC, AN ORGANIZATION THAT ALSO RUNS THE LONG-STANDING GERMAN AND JAPAN CONGRESSIONAL STUDY GROUPS. IN ADDITION, THE FMC HELD A PUBLIC EVENT AT THE KOREA SOCIETY IN WHICH FORMER MEMBERS OF CONGRESS HELD A MODERATED DIALOGUE ON THE CURRENT AMERICAN POLITICAL SCENE. PART III, LINE 4C MEDIA: IN AN EFFORT TO INCREASE LIVESTREAM VIEWERSHIP OF IN-HOUSE EVENTS AND TO EXPAND THE AUDIENCE SIZE OF SOCIETY EVENTS, THE SOCIETY OFFERS MEDIA PLATFORMS THROUGH CREATIVE ONLINE CONTENT, INCLUDING PODCASTS, INSTAGRAM, FACEBOOK, TWITTER AND ITS WEBSITE, OFFERING ENHANCED FUNCTIONALITY AND A SLEEK, CONTEMPORARY DESIGN. THE SOCIETY'S LEADERSHIP TEAM ALSO SEEKS TO RAISE ITS PROFILE IN MAJOR U.S. PRINT MEDIA BY REGULARLY APPEARING IN MEDIA BROADCASTING. SOCIAL MEDIA PLATFORMS SUCH AS TWITTER AND FACEBOOK FEATURE SOCIETY EVENTS AND MENTIONS, AND HAVE SEEN A MARKED INCREASE IN LIVESTREAM VIEWS. ON TWITTER, OVER 21,000 FOLLOWERS ENGAGE WITH SOCIETY POSTS - CULMINATING IN A YEARLY TOTAL OF 243,000 IMPRESSIONS FOR 2017. THE SOCIETY RECORDED. 797,200 IMPRESSIONS FROM JANUARY 1-AUGUST 20, 2018. RENEWED EFFORTS ON THE SOCIETY'S TWITTER FURTHER INCREASED THE NUMBER OF IMPRESSIONS FOR 2018, WHICH GREW DRAMATICALLY, EXCEEDING 220,000. INSTAGRAM, A PLATFORM IDENTIFIED AS IDEAL FOR THE PRESENTATION OF ARTS AND CULTURE CONTENT, WAS A GROWTH AREA FOR THE SOCIETY, WHICH SURPASSED THE 4,000 FOLLOWER MARK. THE SOCIETY'S AUDIO PODCASTS HAVE SEEN MORE THAN ONE MILLION TOTAL DOWNLOADS AND WILL CONTINUE GROWTH IN 2019. WITH A REBOUND OF PODCAST EPISODES IN 2018, THE SOCIETY FORECASTS TO SET A RECORD NUMBER OF DOWNLOADS THIS YEAR. FORM 990, PART VI, SECTION A, LINE 6 THE KOREA SOCIETY, INC. WAS INCORPORATED AS A MEMBERSHIP ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THERE SHALL BE A NOMINATING COMMITTEE CONSISTING OF 5 TO 7 DIRECTORS. ANY DIRECTOR MAY NOMINATE ANY DIRECTOR TO SERVE ON THE NOMINATING COMMITTEE. THE MEMBERS OF THE NOMINATING COMMITTEE SHALL BE ELECTED BY THE BOARD OF DIRECTORS, BY A MAJORITY VOTE OF DIRECTORS PRESENT, TO HOLD OFFICE UNTIL THE NEXT ANNUAL MEETING OR UNTIL THEIR SUCCESSORS ARE ELECTED AND QUALIFIED. VACANCIES ON THE NOMINATING COMMITTEE MAY BE FILLED BY THE BOARD OF DIRECTORS AT ANY MEETING. FORM 990, PART VI, SECTION A, LINE 7B ALL DECISIONS MADE BY THE EXECUTIVE COMMITTEE MUST BE APPROVED BY THE ENTIRE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED BY THE TREASURER AND CONTROLLER PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C AT THE FIRST MEETING OF THE YEAR, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ANY CONFLICT OF INTEREST, IF ANY, WITH THE SOCIETY. FORM 990, PART VI, SECTION B, LINE 15A THE NOMINATING COMMITTEE WILL CONSIST OF AN INDEPENDENT BOARD MEMBER REVIEW AND APPROVAL OF THE COMPENSATION OF THE SOCIETY'S TOP MANAGEMENT OFFICIALS BEFORE THE CHAIRMAN SIGNS THE EMPLOYMENT CONTRACT WITH THEM. FORM 990, PART VI, SECTION C, LINE 19 THE SOCIETY DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.