TY 2020 Form 990

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W-2/1099-MISC)
(1) KATHLEEN STEPHENS...................................................................... CHAIR	2.00 .................	X	X
(2) SONG K JUNG...................................................................... SECRETARY	2.00 .................	X	X
(3) CHONG-YUN PARK...................................................................... TREASURER	2.00 .................	X	X
(4) CARTER BOOTH...................................................................... DIRECTOR	2.00 .................	X
(5) NICHOLAS BRATT...................................................................... DIRECTOR	2.00 .................	X
(6) SEOKMIN CHANG...................................................................... DIRECTOR	2.00 .................	X
(7) TAMI OVERBY...................................................................... DIRECTOR	2.00 .................	X
(8) YOUNG HT CHO...................................................................... DIRECTOR	2.00 .................	X
(9) YOUNG YANG CHUNG...................................................................... DIRECTOR	2.00 .................	X
(10) YOUNG HOON EOM...................................................................... DIRECTOR	2.00 .................	X
(11) STAN GALE...................................................................... DIRECTOR	2.00 .................	X
(12) MARK GASTON...................................................................... DIRECTOR	2.00 .................	X
(13) SUSAN GREENWELL...................................................................... DIRECTOR	2.00 .................	X
(14) JI HOON HONG...................................................................... DIRECTOR	2.00 .................	X
(15) KEVIN LEE...................................................................... DIRECTOR	2.00 .................	X
(16) SANG H PAK...................................................................... DIRECTOR	2.00 .................	X
(17) WILLIAM R RHODES...................................................................... DIRECTOR	2.00 .................	X

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W-2/1099-MISC)
(18) GENE YOON........................................................................ DIRECTOR	2.00 .......................	X			0	0
(19) MARK LIPPERT........................................................................ DIRECTOR	2.00 .......................	X			0	0
(20) YONG SOHN........................................................................ DIRECTOR	2.00 .......................	X			0	0
(21) GENERAL WALTER SHARP........................................................................ DIRECTOR	2.00 .......................	X			0	0
(22) MICHAEL WOODS........................................................................ DIRECTOR	2.00 .......................	X			0	0
(23) KWANG SOO KIM........................................................................ DIRECTOR	2.00 .......................	X			0	0
(24) HAE-YOUNG KIM........................................................................ DIRECTOR	2.00 .......................	X			0	0
(25) TAE-BONG YOON........................................................................ DIRECTOR	2.00 .......................	X			0	0
(26) CHRISTOPHER R HILL........................................................................ DIRECTOR	2.00 .......................	X			0	0
(27) PHILIP D SHERMAN........................................................................ DIRECTOR	2.00 .......................	X			0	0
(28) MEE KIM........................................................................ DIRECTOR	2.00 .......................	X			0	0
(29) MICHAEL BURKE........................................................................ DIRECTOR	2.00 .......................	X			0	0
(30) AMB THOMAS C HUBBARD........................................................................ DIRECTOR	2.00 .......................	X			0	0
(31) ABRAHAM KIM........................................................................ DIRECTOR	2.00 .......................	X			0	0
(32) ANTHONY KIM........................................................................ DIRECTOR	2.00 .......................	X			0	0
(33) JUNG HO SHIN........................................................................ FORMER DIRECTOR	2.00 .......................	X			0	0
(34) SOEKMIN CHANGE........................................................................ FORMER DIRECTOR	2.00 .......................	X			0	0
(35) THOMAS J BYRNE........................................................................ PRESIDENT	40.00 .......................		X		269,538	9,620
(36) STEPHEN NOERPER........................................................................ SENIOR DIRECTOR OF POLICY	40.00 .......................			X	114,714	24,668

- TIN:

SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service

Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
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Attach to Form 990 or Form 990-EZ.
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Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2020

Open to Public
Inspection

Name of the organization

THE KOREA SOCIETY INC

Employer identification number

52-1714111

Part I

Reason for Public Charity Status (All organizations must complete this part.) See instructions.

The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)

A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).

A school described in section 170(b)(1)(A)(ii). (Attach Schedule E (Form 990 or 990-EZ).)

A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).

A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

An organization operated for the benefit of a college or university owned or operated by a governmental unit described in section 170(b)(1)(A)(iv). (Complete Part II.)

A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).

An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)

A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)

An agricultural research organization described in 170(b)(1)(A)(ix) operated in conjunction with a land-grant college or university or a non-land grant college of agriculture. See instructions. Enter the name, city, and state of the college or university:

An organization that normally receives: (1) more than 331/3% of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)

An organization organized and operated exclusively to test for public safety. See section 509(a)(4).

An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box in lines 12a through 12d that describes the type of supporting organization and complete lines 12e, 12f, and 12g.

Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.

Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.

Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.

Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.

Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.

Enter the number of supported organizations ...............................

Provide the following information about the supported organization(s).

(i) Name of supported organization	(ii) EIN	(iv) Is the organization listed in your governing document?		(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(i) Name of supported organization	(ii) EIN	Yes	No	(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)


Total

For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.

Cat. No. 11285F

Schedule A (Form 990 or 990-EZ) 2020

Page 2

Part II

Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2016	(b) 2017	(c) 2018	(d) 2019	(e) 2020	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") ..	2,844,552	2,013,809	1,864,457	3,005,158	2,467,306	12,195,282
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf....
3	The value of services or facilities furnished by a governmental unit to the organization without charge..
4	Total. Add lines 1 through 3	2,844,552	2,013,809	1,864,457	3,005,158	2,467,306	12,195,282
5	The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..						5,486,851
6	Public support. Subtract line 5 from line 4.						6,708,431

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2016	(b) 2017	(c) 2018	(d) 2019	(e) 2020	(f) Total
7	Amounts from line 4..	2,844,552	2,013,809	1,864,457	3,005,158	2,467,306	12,195,282
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...	280,964	297,691	317,342	457,579	436,757	1,790,333
9	Net income from unrelated business activities, whether or not the business is regularly carried on..
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..	14,182	14	14,762	2,055		31,013
11	Total support. Add lines 7 through 10						14,016,628

Gross receipts from related activities, etc. (see instructions) ..................

650,733

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here........................................ right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2020 (line 6, column (f) divided by line 11, column (f)) .........

47.860 %

Public support percentage for 2019 Schedule A, Part II, line 14 ...............

49.640 %

16a

33 1/3% support test—2020. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization ....................... right arrow

33 1/3% support test—2019. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow

17a

10%-facts-and-circumstances test—2020. If the organization did not check a box on line 13, 16a, or 16b, and line 14
is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain
in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported
organization ..................................................... right arrow

10%-facts-and-circumstances test—2019. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line
15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here.
Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly
supported organization ................................................ right arrow

Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow

Schedule A (Form 990 or 990-EZ) 2020

Page 3

Part III

Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2016	(b) 2017	(c) 2018	(d) 2019	(e) 2020	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .
2	Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose
3	Gross receipts from activities that are not an unrelated trade or business under section 513 .....
4	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...
5	The value of services or facilities furnished by a governmental unit to the organization without charge
6	Total. Add lines 1 through 5
7a	Amounts included on lines 1, 2, and 3 received from disqualified persons
b	Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.
c	Add lines 7a and 7b..
8	Public support. (Subtract line 7c from line 6.)

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2016	(b) 2017	(c) 2018	(d) 2019	(e) 2020	(f) Total
9	Amounts from line 6...
10a	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..
b	Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.
c	Add lines 10a and 10b.
11	Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.
12	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..
13	Total support. (Add lines 9, 10c, 11, and 12.)..

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization,
check this box and stop here............................................. right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2020 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2019 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2020 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2019 Schedule A, Part III, line 17 .............

19a

331/3% support tests—2020. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow

33 1/3% support tests—2019. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization .... right arrow

Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow

Schedule A (Form 990 or 990-EZ) 2020

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)

Section A. All Supporting Organizations

Yes

Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.

Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).

Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.

Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.

Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.

Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.

Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.

Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.

Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).

Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?

Substitutions only. Was the substitution the result of an event beyond the organization's control?

Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.

Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990 or 990-EZ) .

Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part I of Schedule L (Form 990 or 990-EZ).

Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.

Did one or more disqualified persons (as defined in line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.

Did a disqualified person (as defined in line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.

10a

Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.

10a

Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).

10b

Schedule A (Form 990 or 990-EZ) 2020

Page 5

Part IV

Supporting Organizations (continued)

Yes

Has the organization accepted a gift or contribution from any of the following persons?

A person who directly or indirectly controls, either alone or together with persons described in lines 11b and 11c below, the governing body of a supported organization?

11a

A family member of a person described in 11a above?

11b

A 35% controlled entity of a person described in line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.

11c

Section B. Type I Supporting Organizations

Yes

Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.

Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.

Section C. Type II Supporting Organizations

Yes

Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).

Section D. All Type III Supporting Organizations

Yes

Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?

Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).

By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.

Section E. Type III Functionally-Integrated Supporting Organizations

Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):

The organization satisfied the Activities Test. Complete line 2 below.

The organization is the parent of each of its supported organizations. Complete line 3 below.

The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions)

Activities Test. Answer lines 2a and 2b below.

Yes

Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.

Did the activities described in line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.

Parent of Supported Organizations. Answer lines 3a and 3b below.

Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.

Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.

Schedule A (Form 990 or 990-EZ) 2020

Page 6

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970 (explain in Part VI). See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.

	Section A - Adjusted Net Income		(A) Prior Year	(B) Current Year (optional)
1	Net short-term capital gain	1
2	Recoveries of prior-year distributions	2
3	Other gross income (see instructions)	3
4	Add lines 1 through 3	4
5	Depreciation and depletion	5
6	Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions)	6
7	Other expenses (see instructions)	7
8	Adjusted Net Income (subtract lines 5, 6 and 7 from line 4)	8

	Section B - Minimum Asset Amount		(A) Prior Year	(B) Current Year (optional)
1	Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year):	1
a	Average monthly value of securities	1a
b	Average monthly cash balances	1b
c	Fair market value of other non-exempt-use assets	1c
d	Total (add lines 1a, 1b, and 1c)	1d
e	Discount claimed for blockage or other factors (explain in detail in Part VI):
2	Acquisition indebtedness applicable to non-exempt use assets	2
3	Subtract line 2 from line 1d	3
4	Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions).	4
5	Net value of non-exempt-use assets (subtract line 4 from line 3)	5
6	Multiply line 5 by 0.035	6
7	Recoveries of prior-year distributions	7
8	Minimum Asset Amount (add line 7 to line 6)	8

	Section C - Distributable Amount		Current Year
1	Adjusted net income for prior year (from Section A, line 8, Column A)	1
2	Enter 85% of line 1	2
3	Minimum asset amount for prior year (from Section B, line 8, Column A)	3
4	Enter greater of line 2 or line 3	4
5	Income tax imposed in prior year	5
6	Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions)	6

Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)

Schedule A (Form 990 or 990-EZ) 2020

Page 7

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)

Section D - Distributions		Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes	1
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity	2
3 Administrative expenses paid to accomplish exempt purposes of supported organizations	3
4 Amounts paid to acquire exempt-use assets	4
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI)	5
6 Other distributions (describe in Part VI). See instructions	6
7Total annual distributions. Add lines 1 through 6.	7
8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions	8
9 Distributable amount for 2020 from Section C, line 6	9
10 Line 8 amount divided by Line 9 amount	10

Section E - Distribution Allocations (see instructions)		(i) Excess Distributions	(ii) Underdistributions Pre-2020	(iii) Distributable Amount for 2020
1 Distributable amount for 2020 from Section C, line 6
2 Underdistributions, if any, for years prior to 2019 (reasonable cause required-- explain in Part VI). See instructions.
3 Excess distributions carryover, if any, to 2020:
a From 2015.......
b From 2016.......
c From 2017.......
d From 2018.......
e From 2019.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2020 distributable amount
i Carryover from 2015 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.
4Distributions for 2020 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2020 distributable amount
c Remainder. Subtract lines 4a and 4b from line 4.
5 Remaining underdistributions for years prior to 2020, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions.
6 Remaining underdistributions for 2020. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions.
7 Excess distributions carryover to 2021. Add lines 3j and 4c.
8 Breakdown of line 7:
a Excess from 2016.....
b Excess from 2017.....
c Excess from 2018.....
d Excess from 2019.....
e Excess from 2020.....

Schedule A (Form 990 or 990-EZ) (2020)

Schedule A (Form 990 or 990-EZ) 2020

Page 8

Part VI

Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).

Facts And Circumstances Test

Return Reference	Explanation
SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:	OTHER INCOME - 2016 AMOUNT: $ 14,182. 2017 AMOUNT: $ 14. 2018 AMOUNT: $ 14,762. 2019 AMOUNT: $ 2,055. 2020 AMOUNT: $ 0.

Schedule A (Form 990 or 990-EZ) 2020

Additional Data

Software ID:
Software Version:

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2020

Name of the organization

THE KOREA SOCIETY INC

Employer identification number

52-1714111

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)

Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2

Name of organization THE KOREA SOCIETY INC

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$ RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Page 3

Name of organization THE KOREA SOCIETY INC		Employer identification number 52-1714111

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Page 4


Name of organization THE KOREA SOCIETY INC			Employer identification number 52-1714111
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet

Attach to Form 990.
SchDMd Bullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2020

Open to Public Inspection

Name of the organization

THE KOREA SOCIETY INC

Employer identification number

52-1714111

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 7/25/06, and not on a historic structure listed in the National Register ...	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year SchDMd Bullet

Number of states where property subject to conservation easement is located SchDMd Bullet

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.

If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included on Form 990, Part VIII, line 1 ......................... SchDMd Bullet

(ii)

Assets included in Form 990, Part X ............................... SchDMd Bullet

$ 175,260

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:

Revenue included on Form 990, Part VIII, line 1 .......................... SchDMd Bullet

Assets included in Form 990, Part X ............................... SchDMd Bullet

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) 2020

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....

Part V

Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.

		(a) Current year	(b) Prior year	(c) Two years back	(d) Three years back	(e) Four years back

1a	Beginning of year balance ....	18,846,492	16,778,241	17,132,468	12,764,414	12,194,889
b	Contributions ...	45,064	858,968	20,000	4,891,100	988,000
c	Net investment earnings, gains, and losses	360,753
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...	6,841,043	-1,209,283	374,227	523,046	418,475
f	Administrative expenses ....
g	End of year balance ......	12,411,266	18,846,492	16,778,241	17,132,468	12,764,414

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment SchDMd Bullet

21.000 %

Permanent endowment SchDMd Bullet

78.000 %

Term endowment SchDMd Bullet

1.000 %

The percentages on lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) Unrelated organizations .......................

3a(i)

(ii) Related organizations .......................

3a(ii)

If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b) Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value

1a	Land .....
b	Buildings ....
c	Leasehold improvements	1,180,100	354,030	826,070
d	Equipment ....	197,062	4,645	192,417
e	Other .....	175,260	55,581	119,679
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				1,138,166

Schedule D (Form 990) 2020

Page 3

Part VII

Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1) Financial derivatives.........
(2) Closely-held equity interests........
(3)Other
(B)
(C)
(D)
(E)
(F)
(G)
(H)
(I)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

Part VIII

Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value
(1)RIGHT TO USE ASSET				4,886,213
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........				4,886,213

Part X

Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	5,226,835
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) 2020

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......			1	4,976,968
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	1,410,086
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................			2e	1,410,086
3	Subtract line 2e from line 1..................			3	3,566,882
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b....................			4c	0
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	3,566,882

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........		1	2,928,001
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d....................		2e	0
3	Subtract line 2e from line 1...................		3	2,928,001
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.....................		4c	0
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......		5	2,928,001

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference

Explanation

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:

THE INVESTMENT RETURNS GENERATED FROM THE PERMANENT ENDOWMENTS ARE USED FOR THE ORGANIZATION'S OPERATING EXPENSES. TEMPORARILY RESTRICTED ENDOWMENTS: EARNINGS FROM THE ENDOWMENT FUNDS ARE USED TO FUND THE DONOR SPECIFIED PROGRAMS. OTHER EXPENDITURES ARE THE ADJUSMTENTS TO UPDATE THE CURRENT YEAR ENDING ENDOWMENT FUND BALANCE BY EXCLUDING (1) THE ACCUMULATED INVESTMENT RETURNS FROM THE PERMANET ENDOWMENT PRINCIPAL RELEASED TO UNRESTRICED NET ASSETS AND (2) TEMPORARILY RESTRICTED CONTRIBUTION THAT IS NOT A CONTRIBUTION TO THE ENDWOMENT FUND.

Schedule D (Form 990) 2020

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE G (Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information Regarding
Fundraising or Gaming Activities

Complete if the organization answered "Yes" on Form 990, Part IV, lines 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a. right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2020

Open to Public Inspection

Name of the organization
THE KOREA SOCIETY INC

Employer identification number

52-1714111

Part I

Fundraising Activities.Complete if the organization answered "Yes" on Form 990, Part IV, line 17.

Form 990-EZ filers are not required to complete this part.

Indicate whether the organization raised funds through any of the following activities. Check all that apply.

a	Mail solicitations	e	Solicitation of non-government grants
b	Internet and email solicitations	f	Solicitation of government grants
c	Phone solicitations	g	Special fundraising events
d	In-person solicitations

Did the organization have a written or oral agreement with any individual (including officers, directors, trustees

or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?

YesNo

If "Yes," list the 10 highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization.

(i) Name and address of individual or entity (fundraiser)	(iii) Did fundraiser have custody or control of contributions?
	Yes	No










Total . . . . . . . . . . . . . . . . . . . .

List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 50083H

Schedule G (Form 990 or 990-EZ) 2020

Page 2

Part II

Fundraising Events. Complete if the organization answered "Yes" on Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000.

		(a) Event #1 ANNUAL DINNER (event type)	(b) Event #2 GOLF TOURNAMENT (event type)	(d) Total events (add col. (a) through col. (c))
1	Gross receipts . . . . .	440,440	85,855	526,295
2	Less: Contributions . . . .	440,440	65,855	506,295
3	Gross income (line 1 minus line 2) . . . . . .		20,000	20,000

4	Cash prizes . . . . .
5	Noncash prizes . . . .
6	Rent/facility costs . . . .		23,024	23,024
7	Food and beverages . . .
8	Entertainment . . . .		1,095	1,095
9	Other direct expenses . . .	78,232	4,593	82,825
10	Direct expense summary. Add lines 4 through 9 in column (d) . . . . . . . . . .			106,944
11	Net income summary. Subtract line 10 from line 3, column (d). . . . . . . . . .			-86,944

Part III

Gaming. Complete if the organization answered "Yes" on Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.

		(a) Bingo	(b) Pull tabs/Instant bingo/progressive bingo	(c) Other gaming	(d) Total gaming (add col.(a) through col.(c))
1	Gross revenue . . . . .

2	Cash prizes . . . . .
3	Noncash prizes . . . .
4	Rent/facility costs . . . .
5	Other direct expenses . . .

Volunteer labor . . . .

	Yes %
	No

	Yes %
	No

	Yes %
	No

Direct expense summary. Add lines 2 through 5 in column (d) . . . . . . . . . . right arrow

Net gaming income summary. Subtract line 7 from line 1, column (d). . . . . . . . . right arrow

Enter the state(s) in which the organization conducts gaming activities:

Is the organization licensed to conduct gaming activities in each of these states? . . . . . . . .

YesNo

If "No," explain:

10a

Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? . . .

YesNo

If "Yes," explain:

Schedule G (Form 990 or 990-EZ) 2020

Page 3

Does the organization conduct gaming activities with nonmembers? . . . . . . . . . . .

YesNo

Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity

formed to administer charitable gaming? . . . . . . . . . . . . . . . . .

YesNo

Indicate the percentage of gaming activity conducted in:

The organization's facility . . . . . . . . . . . . . . . . . .

13a

An outside facility . . . . . . . . . . . . . . . . . . . .

13b

Enter the name and address of the person who prepares the organization's gaming/special events books and records:

Name

Address

15a

Does the organization have a contract with a third party from whom the organization receives gaming

revenue? . . . . . . . . . . . . . . . . . . . . . . . .

YesNo

If "Yes," enter the amount of gaming revenue received by the organization right arrow

$ and the

amount of gaming revenue retained by the third party right arrow

$ .

If "Yes," enter name and address of the third party:

Name

Address

Gaming manager information:

Name

Gaming manager compensation right arrow

Description of services provided right arrow

Director/officer Employee Independent contractor

Mandatory distributions:

Is the organization required under state law to make charitable distributions from the gaming proceeds to

retain the state gaming license? . . . . . . . . . . . . . . . . . . .

YesNo

Enter the amount of distributions required under state law distributed to other exempt organizations or spent

in the organization's own exempt activities during the tax year right arrow

Part IV

Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v); and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also provide any additional information. See instructions.

Return Reference	Explanation

Schedule G (Form 990 or 990-EZ) 2020

Additional Data

Software ID:
Software Version:

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

Schedule I
(Form 990)

Department of the Treasury
Internal Revenue Service

Grants and Other Assistance to Organizations,
Governments and Individuals in the United States

Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet

Attach to Form 990.
lBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2020

Open to Public
Inspection

Name of the organization
THE KOREA SOCIETY INC

Employer identification number
52-1714111

Part I

General Information on Grants and Assistance

Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................

Yes No

Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.

Part II

Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient

that received more than $5,000. Part II can be duplicated if additional space is needed.

(a) Name and address of organization or government	(b) EIN	(c) IRC section (if applicable)	(d) Amount of cash grant	(e) Amount of non-cash assistance	(f) Method of valuation (book, FMV, appraisal, other)	(g) Description of noncash assistance	(h) Purpose of grant or assistance
(1) FORMER MEMEBERS OF CONGRESS (FMC) 1401 K STREET NW SUITE 90L WASHINGTON,DC20005	54-0883744	501(C)(3)	300,000				CONGRESSIONAL STUDY KOREA

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50055P

Schedule I (Form 990) 2020

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance	(b) Number of recipients	(c) Amount of cash grant	(d) Amount of noncash assistance	(e) Method of valuation (book, FMV, appraisal, other)	(f) Description of noncash assistance
(1)
(2)
(3)
(4)
(5)
(6)
(7)

Part IV

Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.

Return Reference

Explanation

PART I, LINE 2:

THE KOREA SOCIETY AWARDED FMC A GRANT OF $300,000 TO SUPPORT PROGRAMMING OF THE CONGRESSIONAL STUDY GROUP ON KOREA (CSGK). PROGRAMMING SUPPORTED BY THIS GRANT INCLUDES TRAVEL AND LODGING EXPENDITURES ASSOCIATED WITH THE OUTLINED RESPONSIBILITIES OF A CONGRESSIONAL STUDY TOUR, WHICH ENVISIONS THREE SEPARATE DELEGATIONS OF MEMBERS OF CONGRESS, CHIEFS OF STAFF, AND DISTRICT DIRECTORS. BECAUSE TRIPS TO KOREA WITH MEMBERS OF CONGRESS AND THEIR STAFF WERE NOT POSSIBLE IN 2020 FMC CREATED A FOUR-DAY CONFERENCE ON KOREA, FEATURING FORMER MEMBERS OF CONGRESS AND OTHER EXPERTS, DISCUSSING ISSUES CRITICAL TO THE U.S.-ROK RELATIONSHIP OVER THE NEXT YEAR. FMC REPORTED THE RESULTS OF PROGRAMMING AND ITS RELATED COSTS TO THE KOREA SOCIETY BY THE END OF THE CALENDAR YEAR.

Schedule I (Form 990) 2020

Additional Data

Software ID:
Software Version:

- TIN:

Schedule J
(Form 990)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
Graphic Arrow

Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
Graphic Arrow

Attach to Form 990.
Graphic Arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2020

Open to Public Inspection

Name of the organization

THE KOREA SOCIETY INC

Employer identification number

52-1714111

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? .............

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ....................

Any related organization? .......................

If "Yes," on line 5a or 5b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ..................

Any related organization? ......................

If "Yes," on line 6a or 6b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................

If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) 2020

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2 and/or 1099-MISC compensation			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column (B) reported as deferred on prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1THOMAS J BYRNE PRESIDENT	(i) (ii)	243,538 ------------- 0	0 ------------- 0	26,000 ------------- 0	9,000 ------------- 0	620 ------------- 0	279,158 ------------- 0	0 ------------- 0

Schedule J (Form 990) 2020

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.

Return Reference	Explanation

Schedule J (Form 990) 2020

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2020

Open to Public
Inspection

Name of the organization

THE KOREA SOCIETY INC

Employer identification number

52-1714111

Return Reference	Explanation
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: KOREA SOCIETY POLICY PROGRAMS DRAW LEADING NEW YORK CITY-BASED POLICY PROFESSIONALS, CORPORATE LEADERS, MAJOR MEDIA EDITORS AND CORRESPONDENTS, UN SENIOR STAFF AND MISSION PERSONNEL, AND UNIVERSITY PROFESSORS AND GRADUATE STUDENTS INTERESTED IN KOREA. THE POLICY TEAM OFFERS A RANGE OF PUBLIC POLICY EVENTS TO SERVE AS A FORUM FOR EXCHANGE ON TOPICS SUCH AS THE KOREA-U.S. ALLIANCE, KOREA'S REGIONAL RELATIONS, AND NORTH KOREA ISSUES. RESPONDING TO THE PANDEMIC, THESE PROGRAMS WERE ALL MOVED TO AN ONLINE FORMAT IN 2020. IN ADDITION TO PUBLIC PROGRAMS, PRIVATE ROUNDTABLE DIALOGUES OFFER FORA FOR EXCHANGE AND DISCUSSION AMONG POLICY EXPERTS AND VISITING KOREAN OFFICIALS. SINCE 2018, THE KOREA SOCIETY HAS CONDUCTED UN DIALOGUES AS PART OF THE PROGRAMS IN SUPPORT OF COOPERATION IN NORTHEAST ASIA, WHICH AIMS TO SUPPORT ENGAGEMENT FOR PEACE THROUGH EXPERT-LEVEL DIALOGUE ON CONFIDENCE AND SECURITY BUILDING ON AND AROUND THE KOREAN PENINSULA. THE KIM KOO PROFESSIONAL SERIES AT THE KOREA SOCIETY BRINGS TOGETHER SENIOR NEW YORK PROFESSIONALS FROM BUSINESS, MEDIA, AND INTERNATIONAL ORGANIZATIONS FOR A TIMELY DISCUSSION OF EVENTS ON THE KOREAN PENINSULA AND IN EAST ASIA. THE KOREA EMERGING SCHOLAR LECTURE SERIES AWARD GROWS THOUGHT LEADERSHIP ON KOREA FOR A NEW GENERATION OF AMERICAN SCHOLARS AND PRACTITIONERS. APPLICANTS FOR THIS ANNUAL AWARD HAIL FROM ANY DISCIPLINE RELATED TO KOREA, AND ARE DOCTORAL CANDIDATES, NON-TENURE TRACK PROFESSORS OR EQUIVALENT RESEARCH OR NGO PROFESSIONALS. THE SOCIETY HONORS VETERANS WITH A SERIES OF KOREAN WAR AT 70 PROGRAMS AND AN ANNUAL ARMISTICE DAY SALUTE TO AMERICAN AND KOREAN AMERICAN VETERANS OF THE KOREAN WAR AT BATTERY PARK. A NEW SERIES OF PROGRAMS TITLED NEW THOUGHT ON KOREA AND UNIFICATION AIMS TO PROMOTE DIALOGUE AND AWARENESS ON KOREAN PENINSULA PEACE AND SECURITY WHILE ALSO FOSTERING A NETWORK OF YOUNG SPECIALISTS ON ISSUES RELATED TO KOREAN PENINSULA SECURITY AND DIPLOMACY. TOTAL NUMBER OF PROGRAMS: 54 REGISTRANTS FOR ONLINE PROGRAMS: 5,146 YOUTUBE VIEWS FOR PROGRAMS: 29,229 PODCAST DOWNLOADS: 53,617 CORPORATE: THE KOREA SOCIETY HOSTS BUSINESS PROGRAMS THAT ATTRACT ENTREPRENEURS, STARTUPS, INVESTMENT FUND MANAGERS, AND MARKET ANALYSTS. WE PROVIDE GLOBAL AUDIENCES WITH INVALUABLE INSIGHTS ON BUSINESS CONDITIONS, START-UP STRATEGIES, AND GOVERNMENT INITIATIVES. AS 2020 WAS AN UNUSUAL YEAR DUE TO THE COVID-19 OUTBREAK, THE SOCIETY INVITED SPEAKERS FROM THE PUBLIC SECTOR TO EXAMINE THE KOREAN GOVERNMENT'S FISCAL MEASURES TAKEN TO MITIGATE THE ECONOMIC IMPACT OF THE PANDEMIC. WE ALSO HOSTED KOREA'S TOP COVID EXPERT WHERE HE PROVIDED AMERICAN INVESTORS AND BANKERS WITH HELPFUL INFORMATION FOR THEIR INVESTMENT PLAN DURING THESE UNCERTAIN TIMES. FURTHERMORE, THE SOCIETY PRESENTED THREE ADDITIONAL CORPORATE PROGRAMS IN PARTNERSHIP WITH THE KOREA TRADE-INVESTMENT PROMOTION AGENCY (KOTRA). THROUGH THE SERIES OF PROGRAMS, THE SOCIETY WAS ABLE TO DELIVER TIMELY AND INFORMATIVE DISCUSSIONS ON KEEN ISSUES, SUCH AS BRANDING IN YOUTUBE, BIG DATA, PATENTS, AND AI. THE PARTNERSHIP WITH KOTRA ALSO ALLOWED US TO EXPAND OUR AUDIENCE BY REACHING OUT TO NEW DEMOGRAPHICS. TOTAL NUMBER OF PROGRAM: 5 YOUTUBE & VIMEO VIEWS FOR PROGRAMS: 2009 PODCAST DOWNLOADS: 6970
PART III, LINE 4B	THE CONGRESSIONAL STUDY GROUP ON KOREA: 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. THE ANNUAL MEMBERS' TRIP WITH SOCIETY PRESIDENT TOM BYRNE ACCOMPANYING THE SIX MEMBERS OF CONGRESS HOLDS MEETINGS WITH SOUTH KOREAN OFFICIALS REINFORCED THE IMPORTANCE OF THE MUTUALLY BENEFICIAL U.S.-ROK MILITARY ALLIANCE, ECONOMIC RELATIONSHIP, AND CULTURAL TIES. ALTHOUGH UNABLE TO CONDUCT A STUDY TOUR BECAUSE OF THE PANDEMIC IN 2020, THE SOCIETY NONETHELESS FOUND NEW WAYS TO INVIGORATE ITS PARTNERSHIP WITH THE ASSOCIATION OF FORMER MEMBERS OF CONGRESS (FMC) ON THE CONGRESSIONAL STUDY GROUP ON KOREA (CSGK), CONDUCTING A SERIES OF CO-HOSTED VIRTUAL WEBINARS AND WORKING ON A JOINT PUBLICATION ABOUT THE ALLIANCE, SCHEDULED TO BE PUBLISHED SOON (SPRING 2021). 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.
PART III, LINE 4C	MEDIA: 2020 BROUGHT FORTH A NUMBER OF DEVELOPMENTS TO THE KOREA SOCIETY WEB/PRINT BRAND. IN PRINT, THE KOREA SOCIETY'S ANNUAL REPORT WAS INTERNATIONALLY RECOGNIZED WITH GOLD ARC AWARD AND SILVER VISION AWARD FOR THE BEST ANNUAL REPORT IN THE NON-PROFITS CATEGORY. ANOTHER NOTABLE PUBLICATION, THE KIM KOO PROFESSIONAL SERIES BOOKLET WAS EAGERLY REQUESTED AND RECEIVED BY THE KIM KOO FOUNDATION. THE KOREA SOCIETY ALSO PRODUCED QUARTERLY DIGITAL PROGRAM CALENDARS, SPECIAL EVENTS MATERIALS, AND GALLERY EXHIBITION PRINT MATERIALS. THE KOREA SOCIETY USES ITS SOCIAL MEDIA CHANNELS TO ATTRACT PROGRAM AUDIENCES AND PRESENT PROGRAMMING CONTENT, HIGHLIGHT STAFF APPEARANCES IN MEDIA AND BROADCAST, AND HIGHLIGHT CURRENT EVENTS ON THE KOREAN PENINSULA. THE SOCIETY HAS GROWN ITS SOCIAL MEDIA PRESENCE EXPONENTIALLY IN 2020, NETTING OVER 14 MILLION TWITTER IMPRESSIONS (A 260% ANNUAL INCREASE), 30,500 TWITTER FOLLOWERS (A 26% INCREASE), 224,166 YOUTUBE VIEWS (A 45% INCREASE), 10,165 YOUTUBE SUBSCRIBERS (A 57% INCREASE), AND 237,340 WEBSITE VISITORS (A 24% INCREASE). THE SOCIETY AIMS TO FURTHER EXPAND ITS SOCIAL MEDIA PRESENCE WITH NEW AND ENHANCED PAGES, INCLUDING OUR ARTS & CULTURE TWITTER ACCOUNT, LINKEDIN PAGE, AND REDDIT PROFILE, WHICH HAVE ALL BEEN REVAMPED TO CONNECT TO SPECIALIZED INTEREST GROUPS. ADDITIONALLY, THE SOCIETY'S VOICE CONTINUES TO BE AMPLIFIED IN PRINT AND BROADCAST MEDIA THROUGH STAFF APPEARANCES AND MEDIA COVERAGE FOR PROGRAMS. IN 2020, SOCIETY PRESIDENT TOM BYRNE PUBLISHED 11 PIECES IN TOP-TIER PRINT MEDIA, AND THE TOTAL NUMBER OF CITATIONS WAS 1,793. THESE MEDIA HITS FEATURED SOCIETY PROGRAMS AND EVENTS, AS WELL AS QUOTES AND COMMENTARY FROM SOCIETY STAFF AND BOARD MEMBERS.
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 IS PREPARED BY AN INDEPENDENT PROFESSIONAL ACCOUNTANT AND REVIEWED BY THE AUDIT COMMITTEE. AFTER THE AUDIT COMMITTEE MEMBERS' QUESTIONS ARE ANSWERED BY THE INDEPENDENT PROFESSIONAL ACCOUNTANT, A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS BEFORE FILING WITH THE IRS.
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.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2020

Additional Data

Software ID:
Software Version:

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	3,005,158	2,467,306
9	Program service revenue (Part VIII, line 2g) .........	151,975	176,320
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	517,126	1,010,200
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	-74,701	-86,944
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	3,599,558	3,566,882
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	300,000
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	1,141,617	1,262,577
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 591,149
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	1,764,544	1,365,424
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	2,906,161	2,928,001
19	Revenue less expenses. Subtract line 18 from line 12.......	693,397	638,881
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	26,318,183	27,780,256
21	Total liabilities (Part X, line 26).............	5,852,684	5,265,790
22	Net assets or fund balances. Subtract line 21 from line 20.....	20,465,499	22,514,466

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 579,749 including grants of $ ) (Revenue $ 400 )
	POLICY & CORPORATE: SEE SCHEDULE O.

4b	(Code: ) (Expenses $ 372,128 including grants of $ 300,000 ) (Revenue $ )
	CONGRESSIONAL: SEE SCHEDULE O.

4c	(Code: ) (Expenses $ 519,636 including grants of $ ) (Revenue $ )
	MEDIA: SEE SCHEDULE O.

	(Code: ) (Expenses $ 406,103 including grants of $ ) (Revenue $ 175,920 )
	ARTS & CULTURE: NORTH AMERICANS' INTEREST IN ALL ASPECTS OF KOREAN CULTURE IS GROWING EXPONENTIALLY. THE KOREA SOCIETY STRIVES TO SERVE ITS MEMBERS AND AUDIENCE BY PROVIDING VARIOUS PROGRAMS AND EXHIBITIONS THAT SHOWCASE AND SPOTLIGHT KOREAN CULTURE, FROM FINE ART AND LITERATURE TO KPOP AND TELEVISION SERIES TO KOREAN CUISINE.THE KOREA SOCIETY'S MADISON AVENUE LOCATION IS PROVING TO BE A VALUABLE ASSET WITH ITS FUNCTIONAL AND ATTRACTIVE GALLERY SPACE. LOCATED IN THE CENTER OF THE CULTURAL CAPITAL OF THE WORLD, THE KOREA SOCIETY GALLERY ATTRACTS DIVERSE VISITORS INTERESTED IN ART FROM AND ABOUT KOREA. THE KOREA SOCIETY'S GOAL IS TO SHOWCASE THE EXCELLENCE AND VARIETY IN ART CREATED BY KOREAN AND KOREAN-AMERICAN ARTISTS AS WELL AS NON-KOREAN ARTISTS DEALING WITH KOREAN SUBJECTS. DURING THE PANDEMIC, THE KOREA SOCIETY GALLERY REMANDED OPEN VIA APPOINTMENTS ONLY, CONTINUING TO RECEIVE VIEWERS INTERESTED IN ART FROM KOREA.WITH THE POPULARITY OF K-POP, K-DRAMA AND FILMS, KOREAN LITERATURE KOREAN CUISINE, THE INTEREST IN TRADITIONAL AND CONTEMPORARY KOREAN CULTURE IS EVER INCREASING. THE KOREA SOCIETY CONTINUES TO PRESENT VARIOUS PROGRAMS THAT HIGHLIGHT THE PHENOMENAL SUCCESS OF THE "K" BRAND AS WELL AS OFFERING IN-DEPTH ANALYSIS AND THOUGHTFUL DISCUSSIONS. DURING THE PANDEMIC, THE KOREA SOCIETY WAS ABLE TO PIVOT FROM PUBLIC IN-PERSON EVENTS TO ONLINE LIVE WEBCASTS AND PRE-RECORDED VIDEO RELEASES, ATTRACTING AUDIENCES NOT ONLY FROM THE TRI-STATE AREA BUT FROM AROUND THE WORLD.MOST NOTABLE PARTICIPANTS OF ARTS & CULTURE PROGRAMS INCLUDES: IK-JOONG KANG [FINE ART]; GRACE KELLY [JAZZ]; HOONI KIM [CUISINE]; FRANCES CHA [LITERATURE]; CHAN JAE & MARINA LEE [SOCIAL MEDIA]; ALEXANDER CHEE [LITERATURE]; LEE ISAAC CHUNG [FILM]; HEE SEO [BALLET]; AND DAVID YOON [YA LITERATURE].IN 2020, THE YOUNG PROFESSIONALS' NETWORK (YPN) WAS ABLE TO SEEK OPPORTUNITIES IN ENHANCING ENGAGEMENT WITH YOUNG PROFESSIONALS. YPN SHIFTED ITS PROGRAMS TO A VIRTUAL FORMAT AND CONDUCTED SIX SESSIONS. THROUGH THESE ONLINE YPN PROGRAMS, THE KOREA SOCIETY HAS BEEN ABLE TO APPROACH A WIDER RANGE OF SPEAKERS AND EXPAND ITS AUDIENCE. YPN INVITED SPEAKERS FROM DIVERSE PROFESSIONAL BACKGROUNDS IN THE ARTS, CULTURE, BUSINESS, AND MEDIA INDUSTRIES AND THEY SHARED LIFE EXPERIENCES AND SUCCESSFUL CAREER PATHS. THE SOCIETY WAS ALSO PLEASED TO WELCOME TWO IMPORTANT ORGANIZATIONS, ASIAN AMERICAN JOURNALISTS ASSOCIATION (AAJA) AND KOREAN STARTUPS & ENTREPRENEURS (KSE) AS PARTNERS OF OUR YPN PROGRAMS. THEY IMPROVED THE YPN PROGRAM BY REACHING OUT TO THEIR MEMBERS AND DRAWING THEIR INTEREST IN THE INFORMATIVE, INSIGHTFUL, AND INSPIRING CONVERSATIONS DELIVERED THROUGH YPN. TOTAL NUMBER OF PROGRAM: 36REGISTRATIONS FOR ONLINE PROGRAMS: 7,104YOUTUBE & VIMEO VIEWS FOR PROGRAMS: 23,174PODCAST DOWNLOADS: 43,486

4d	Other program services (Describe in Schedule O.)
	(Expenses $ 406,103 including grants of $ ) (Revenue $ 175,920 )
4e	Total program service expenses1,877,616

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	384,252	0	34,288

(A) Name and business address	(B) Description of services	(C) Compensation





2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 0

1	Briefly describe the organization’s mission or most significant activities: STRENTHENING THE BONDS OF AWARENESS, UNDERSTANDING & COOPERATION BETWEEN THE US & KOREA.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	31
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	31
5	Total number of individuals employed in calendar year 2020 (Part V, line 2a) ......	5	20
6	Total number of volunteers (estimate if necessary) .............	6	11
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, line 39 .........	7b	0

1a	Federated campaigns..		1a
b	Membership dues..		1b	220,250
c	Fundraising events..		1c	506,295
d	Related organizations		1d
e	Government grants (contributions)		1e	146,100

f	All other contributions, gifts, grants, and similar amounts not included above		1f	1,594,661

g	Noncash contributions included in lines 1a - 1f:$		1g

h Total. Add lines 1a-1f.......		2,467,306

		Business Code
2a	KOREAN STUDIES	900099	172,905	172,905
b	ARTS & CULTURE	900099	3,015	3,015
c	POLICY & CORPORATE	900099	400	400
d
e
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		176,320

3 Investment income (including dividends, interest, and othersimilar amounts) ......			614,597			614,597
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
		(ii) Personal	(i) Real
6a	Gross rents			6a
b	Less: rental expenses			6b
c	Rental income or (loss)			6c
d	Net rental income or (loss).......
		(ii) Other	(i) Securities
7a	Gross amount from sales of assets other than inventory		3,038,966	7a
b	Less: cost or other basis and sales expenses		2,643,363	7b
c	Gain or (loss)		395,603	7c
d	Net gain or (loss).........			395,603			395,603
8a	Gross income from fundraising events (not including $ 506,295of contributions reported on line 1c). See Part IV, line 18 ....
			8a	20,000
b	Less: direct expenses ...		8b	106,944
c	Net income or (loss) from fundraising events..			-86,944			-86,944
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..
Business Code			Miscellaneous Revenue
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......
12	Total revenue. See instructions.....			3,566,882	176,320	0	923,256

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	300,000	300,000
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......
5	Compensation of current officers, directors, trustees, and key employees ...........	279,158	162,352	49,379	67,427
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........	768,750	468,556	126,906	173,288
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	637	388	105	144
9	Other employee benefits .......	146,040	96,807	20,813	28,420
10	Payroll taxes ...........	67,992	41,441	11,224	15,327
11	Fees for services (non-employees):
a	Management ......
b	Legal .........
c	Accounting ...........	27,900	20,800	5,679	1,421
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	119,326	88,960	24,287	6,079
12	Advertising and promotion ....
13	Office expenses .......	17,852	9,283	3,808	4,761
14	Information technology ......
15	Royalties ..
16	Occupancy ...........	820,869	426,851	175,119	218,899
17	Travel ............	2,129	386	1,546	197
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	138,534	72,038	29,554	36,942
23	Insurance ...	16,757	8,714	3,575	4,468
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	PROGRAM COSTS	188,102	163,382		24,720
b	OTHER EXPENSES	31,452	16,357	6,707	8,388
c	EQUIP. RENTAL & MAINTEN	2,503	1,301	534	668
d
e	All other expenses
25	Total functional expenses. Add lines 1 through 24e	2,928,001	1,877,616	459,236	591,149
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			1,249,703	1	1,305,618
2	Savings and temporary cash investments .........			524,604	2	823,444
3	Pledges and grants receivable, net ......			557,695	3	318,726
4	Accounts receivable, net .............			255,405	4	155,650
5	Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
					5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
					6
7	Notes and loans receivable, net ...........				7
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......			27,605	9	64,620
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	1,552,422
b	Less: accumulated depreciation	10b	414,256	1,274,811	10c	1,138,166
11	Investments—publicly traded securities .			16,976,110	11	19,087,819
12	Investments—other securities. See Part IV, line 11 .....				12
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			5,452,250	15	4,886,213
16	Total assets. Add lines 1 through 15 (must equal line 33)...			26,318,183	16	27,780,256

17	Accounts payable and accrued expenses .....	45,910	17	38,955
18	Grants payable ...		18
19	Deferred revenue .........		19
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D	5,806,774	25	5,226,835
26	Total liabilities. Add lines 17 through 25..	5,852,684	26	5,265,790

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	10,222,945	27	12,442,735
28	Net assets with donor restrictions ...........	10,242,554	28	10,071,731
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....		29
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds		31
32	Total net assets or fund balances ...........	20,465,499	32	22,514,466
33	Total liabilities and net assets/fund balances ........	26,318,183	33	27,780,256