Form990-PF
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Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
KAO FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)1200 EAST 151ST STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
OLATHE, KS66062
A Employer identification number

20-2014620
B Telephone number (see instructions)

(913) 440-1355
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$96,596,718J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 8,586,650
2 Check bullet.............
3 Interest on savings and temporary cash investments 10 10  
4 Dividends and interest from securities... 3,368,863 3,368,863  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 112,469
b Gross sales price for all assets on line 6a 8,967,483
7 Capital gain net income (from Part IV, line 2)... 112,469
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 18,726 18,726  
12 Total. Add lines 1 through 11........ 12,086,718 3,500,068  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 100,001 0   100,001
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 260 0   260
b Accounting fees (attach schedule)....... Click to see attachment 15,127 0   15,127
c Other professional fees (attach schedule).... Click to see attachment 30,000 0   30,000
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 59,003 743   8,260
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 10,285 763   9,522
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 214,676 1,506   163,170
25 Contributions, gifts, grants paid....... 4,680,634 4,680,634
26 Total expenses and disbursements. Add lines 24 and 25 4,895,310 1,506   4,843,804
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 7,191,408
b Net investment income (if negative, enter -0-) 3,498,562
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 44,412    
2 Savings and temporary cash investments......... 536,831 3,851,617 3,851,617
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 15,774,642 Click to see attachment26,905,379 34,874,472
c Investments—corporate bonds (attach schedule)....... 55,118,735 Click to see attachment49,558,844 55,595,255
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,513,928 Click to see attachment2,352,673 2,275,374
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 72,988,548 82,668,513 96,596,718
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 72,988,548 82,668,513
29 Total net assets or fund balances (see instructions)..... 72,988,548 82,668,513
30 Total liabilities and net assets/fund balances (see instructions). 72,988,548 82,668,513
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
72,988,548
2
Enter amount from Part I, line 27a .....................
2
7,191,408
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
2,488,557
4
Add lines 1, 2, and 3 ..........................
4
82,668,513
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
82,668,513
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a BCS FL CALL INDXS 6500 *23AU16   2021-08-16 2021-08-16
b CITI FICALL EQTYS 5850 23JN14   2021-06-14 2021-06-14
c MSIF ULTRA-SHORT INCOME A   2021-05-06 2021-05-10
d MSIF ULTRA-SHORT INCOME A   2021-05-06 2021-05-24
e MSIF ULTRA-SHORT INCOME A   2021-05-06 2021-07-29
BCS CL AUTO ABBV 9000 24JN28   2021-06-25 2021-12-30
BCS CL AUTO DOW 1025024MH15   2021-03-12 2021-06-17
GS CL AUTO AAPL 2500 24MH15   2021-03-12 2021-09-16
JPM CL AUTO ABBV 885024MH15   2021-03-12 2021-06-17
BCS FL CALL INDXS 6500 23AU16   2020-08-11 2021-08-16
CAP ONE FINL CO 5.2% SER-G   2016-07-26 2021-12-01
CAPITAL ONE FINAN 3934 *61SP01   2018-10-18 2021-09-01
CITI FICALL EQTYS 5850 23JN14   2020-06-09 2021-06-14
GOLDMAN SACHS GRO 4127 61FB05   2018-11-30 2021-02-05
QWEST CORP 6750 21DE01   2019-01-31 2021-12-01
UNITED RENTALS NO 5875 26SP15   2018-12-11 2021-09-15
CITIGROUP INC 4671 61MY17   2016-03-10 2021-02-16
CITIGROUP INC 4671 61MY17   2016-03-10 2021-05-17
GOLDMAN SACHS GRO 4127 61FB05   2016-03-10 2021-02-05
FROM P/T GCM GROSVENOR AG NET LEASE III FEEDER FUND LP P 2021-12-31 2021-12-31
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 28,050     28,050
b 55,760     55,760
c 151,000   151,007 -7
d 100,000   100,007 -7
e 170,000   170,007 -7
100,000   100,000 0
100,000   100,000 0
100,000   100,000 0
100,000   100,000 0
500,000   500,000 0
100,000   100,000 0
1,000,000   1,041,694 -41,694
1,200,000   1,200,000 0
1,000,000   1,008,339 -8,339
2,000,000   2,000,000 0
2,058,760   1,980,006 78,754
31,000   32,343 -1,343
69,000   71,989 -2,989
100,000   99,622 378
2,702     2,702
1,211     1,211
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       28,050
b       55,760
c       -7
d       -7
e       -7
      0
      0
      0
      0
      0
      0
      -41,694
      0
      -8,339
      0
      78,754
      -1,343
      -2,989
      378
      2,702
      1,211
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 112,469
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 48,630
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 48,630
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 55,211
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 15,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 70,211
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 21,581
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet21,581 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCA, KS, TX
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletMIN H KAO Telephone no.bullet (913) 440-1355

    Located atbullet1200 EAST 151ST STREETOLATHEKS ZIP+4bullet66062
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
     
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
     
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    MIN H KAO PRES, DIRECTOR
    2.00     		0 0 0
    1200 EAST 151ST STREET
    OLATHE,KS66062
    KENNETH KAO VP, DIRECTOR
    0.25     		0 0 0
    1200 EAST 151ST STREET
    OLATHE,KS66062
    YU-FAN C KAO TREAS, DIRECTOR
    0.25     		0 0 0
    1200 EAST 151ST STREET
    OLATHE,KS66062
    JENNIFER KAO VP, DIRECTOR
    0.25     		0 0 0
    1200 EAST 151ST STREET
    OLATHE,KS66062
    DEBRA K POLLARD SECRETARY, ASST. TREASURER
    40.00     		100,001 0 0
    1200 EAST 151ST STREET
    OLATHE,KS66062
    NICOLAS GONDA DIRECTOR
    0.25     		0 0 0
    1200 EAST 151ST STREET
    OLATHE,KS66062
    ADAM C LEIBSOHN DIRECTOR
    0.25     		0 0 0
    1200 EAST 151ST STREET
    OLATHE,KS66062
    LAURIE A MINARD DIRECTOR
    0.25     		0 0 0
    1200 EAST 151ST STREET
    OLATHE,KS66062
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    93,873,045
    b
    Average of monthly cash balances.......................
    1b
    1,320,960
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    95,194,005
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    95,194,005
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    1,427,910
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    93,766,095
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    4,688,305
    Part X
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    4,688,305
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    48,630
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    48,630
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    4,639,675
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    4,639,675
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    4,639,675
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 4,639,675
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018...... 487,124
    d From 2019...... 255,905
    e From 2020......  
    f Total of lines 3a through e ........ 743,029
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 4,843,804
    a Applied to 2020, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		Click to see attachment0
    d Applied to 2021 distributable amount..... 4,639,675
    e Remaining amount distributed out of corpus 204,129
    5 Excess distributions carryover applied to 2021. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 947,158
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		947,158
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018.... 487,124
    c Excess from 2019.... 255,905
    d Excess from 2020....  
    e Excess from 2021.... 204,129
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    MIN H KAO
    KENNETH KAO
    YU-FAN C KAO
    JENNIFER KAO
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ARIZONA STATE UNIVERSITY FOUNDATION
    P O BOX 879309
    TEMPE,AZ852879309     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 50,400
    CEDARS-SINAI MEDICAL CENTER
    8700 BEVERLY BLVD SUITE 2416
    LOS ANGELES,CA90048     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 2,000,500
    CHILDREN'S MERCY (FOR NICK'S VOICE)
    2401 GILLHAM RD
    KANSAS CITY,MO64108     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 100,000
    GIRL SCOUTS OF NE KANSAS & NW MISSOURI
    8383 BLUE PARKWAY DRIVE
    KANSAS CITY,MO64133     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 25,000
    KANSAS CITY BALLET
    500 W PERSHING ROAD
    KANSAS CITY,MO64108     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 10,000
    KANSAS CITY SYMPHONY
    1020 CENTRAL
    KANSAS CITY,MO64105     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 50,000
    KANSAS STATE UNIVERSITY FOUNDATION
    2323 ANDERSON AVENUE SUITE 500
    MANHATTAN,KS66502     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 25,000
    KANSAS UNIVERSITY ENDOWMENT ASSOC
    1891 CONSTANT AVENUE
    LAWRENCE,KS66044     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 211,000
    KAO FAMILY EDUCATION FOUNDATION
    C/O MIN KAO 1200 E 151ST ST
    OLATHE,KS66062     		NONE RELATED FOREIGN NON- ORGANIZATION'S GENERAL CHARITABLE PURPOSES 586,000
    OPERATION BREAKTHROUGH INC
    3039 TROOST AVE
    KANSAS CITY,MO64109     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 50,000
    OREGON STATE UNIVERSITY FOUNDATION
    850 SW 35TH STREET
    CORVALIS,OR97333     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 47,734
    RECONCILIATION SERVICES
    3101 TROOST AVENUE
    KANSAS CITY,MO64109     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 100,000
    SAVING INNOCENCE
    PO BOX 93037
    LOS ANGELES,CA90093     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 100,000
    SCLERODERMA RESEARCH FOUNDATION
    220 MONTGOMERY ST SUITE 1411
    SAN FRANCISCO,CA64104     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 5,000
    THORN
    1240 ROSENCRANS AVENUE SUITE 120
    MANHATTAN BEACH,CA90266     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 100,000
    UNITED WAY OF GREATER KANSAS CITY
    1080 WASHINGTON STREET
    KANSAS CITY,MO64105     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 50,000
    UNIVERSITY OF MO - COLUMBIA
    W1006 LAFFERRE HALL
    COLUMBIA,MO65211     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 48,000
    UNIVERSITY OF NEBRASKA FOUNDATION
    1010 LINCOLN MALL SUITE 300
    LINCOLN,NE68508     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 560,000
    BLACK FARMER FUND
    2161 PROSPECT AVE
    BRONX,NY10457     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 90,000
    GIVING THE BASICS
    927 S 7TH STREET
    KANSAS CITY,KS66105     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 3,000
    JOHNSON COUNTY COMMUNITY COLLEGE FOUNDATION
    12345 COLLEGE BLVD
    OVERLAND PARK,KS66210     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 50,000
    NATIONAL TAIWAN UNIVERSITY ACADEMIC DEVELOPMENT FOUNDATION
    38 RIDGEFIELD LANE
    WILLOWBROOK,IL60527     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 10,000
    THE UNDERGROUND MUSEUM
    3508 W WASHINGTON BLVD
    LOS ANGELES,CA90018     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 150,000
    UNIVERSITY OF MISSOURI-KANSAS CITY FOUNDATION
    202 ADMINISTRATIVE CENTER 5115 OAK
    ST
    KANSAS CITY,MO64112     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 50,000
    WATTS CONSERVANCY OF MUSIC
    C/O RSL COMPANY 6300 WILSHIRE BLVD
    880
    LOS ANGELES,CA90048     		NONE PC ORGANIZATION'S GENERAL CHARITABLE PURPOSES 209,000
    Total .................................bullet 3a 4,680,634
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 10  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 112,469  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 3,500,068 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    3,500,068
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    KAO FAMILY FOUNDATION
     
    Employer identification number

    20-2014620
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    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
    Special Rules
    ......... 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) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    KAO FAMILY FOUNDATION
          		Employer identification number
    20-2014620
    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
    1
    KENNETH KAO
    1200 EAST 151ST STREET
     
    OLATHE, KS66062

    		$ 4,293,325


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    JENNIFER KAO
    1200 EAST 151ST STREET
     
    OLATHE, KS66062

    		$ 4,293,325


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    KAO FAMILY FOUNDATION
          		Employer identification number

    20-2014620
    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
    1
    		 15,000 SHARES OF GARMIN LTD $ 2,135,700 2021-05-10
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 12,500 SHARES OF GARMIN LTD $ 2,157,625 2021-08-25
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    2
    		 15,000 SHARES OF GARMIN LTD $ 2,135,700 2021-05-10
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    2
    		 12,500 SHARES OF GARMIN LTD $ 2,157,625 2021-08-25
    (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) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    KAO FAMILY FOUNDATION
          		Employer identification number

    20-2014620
    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 $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use 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 (c) Use 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 (c) Use 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 (c) Use 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) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 15,127 0   15,127

    TY 2021 DistributionFromCorpusElection
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Election:
    PURSUANT TO TREASURY REGULATION SECTION 53.4942(A)-3(D)(2) THE FOUNDATION ELECTS TO TREAT THE AMOUNT OF $380,000 PAID TO KAO FAMILY EDUCATION FOUNDATION (EIN 98-1473209) WITHIN THE CALENDAR YEAR 2020 AS A DISTRIBUTION FROM CORPUS.

    TY 2021 GeneralExplanationAttachment
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Identifier Return Reference Explanation
      EXPENDITURE RESPONSIBILITY SUMMARY REQ'D BY 53.4945-5(C)(4) NAME OF GRANTEE: KAO FAMILY EDUCATION FOUNDATION (KFEF)DATES AND AMOUNTS OF GRANTS:01/21/21: 145,00004/08/21: 157,00008/23/21: 284,000PURPOSE OF GRANTS: FUNDS FOR GRANTS BY KFEF TO TAIWANESE CHARITABLE ORGANIZATIONSAMOUNTS SPENT AS OF LAST REPORT: 586,000DIVERSIONS FROM REQUIRED PURPOSE: NONEDATES OF REPORTS FROM GRANTEE: 04/08/2021, 07/03/2021, 11/18/2021DATES AND RESULTS OF VERIFICATION OF REPORTS: 03/31/2022 RESULTS VERIFIEDLAST DATE VERIFIED IN 2021: 08/10/2021

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AERCAP IRELAND CAPITAL DAC 1,931,802 2,153,420
    AIR LEASE CORP FXD TO 12026 VAR THRAFTR 4.1250%(DIV) 996,496 992,500
    AMAZON.COM INC 215,286 227,670
    ANHEUSER BUSCH INBEV WORLDWIDE INC 1,309,702 1,619,330
    ANHEUSER-BUSCH COS LLC 1,143,100 1,408,340
    BANK OF AMERICA CORP 103,844 112,500
    CHARTER COMMUNICATIONS OPERATING LLC 1,002,894 1,100,510
    CIT GROUP INC FXD TO 062022 2,014,429 2,027,500
    CITI 4% WORSTOF FIXED CALLABLEDX RTY SPX 600,000 567,300
    CITI 4% WORSTOF FIXED CALLABLEDX RTY SPX 600,000 563,760
    CITIGROUP INC FXD TO 052023 VAR THRAFTR 5.3500% 253,375 254,688
    COMCAST CORP 1,180,765 1,455,540
    CREDIT SUISSE GROUP AG FXD TO 122024 2,044,381 2,136,300
    CVS HEALTH CORP 998,756 1,078,250
    DELL INTERNATIONAL LLC 2,031,938 2,312,860
    DISCOVER BANK FXD TO 082023 1,990,006 2,090,460
    DISCOVER COMMUNICATIONS LLC 949,506 1,195,780
    ENBRIDGE INC FXD TO 032028 1,916,603 2,172,300
    FORD MOTOR CO 1,107,295 1,202,500
    GENERAL ELECTRIC CO 3,029,003 3,084,500
    GENERAL MILLS INC 998,506 1,074,170
    GM FINANCIAL 6.50% B FXD TO 09/30/2028 2,904,206 3,318,330
    GOLDMAN SACHS CAPITAL II 488,481 573,300
    HANESBRANDS INC REGS 1,932,006 2,094,280
    HUNTINGTON BANCSHARES FXD TO 042023 300,000 304,500
    HYATT HOTELS CORP 1,981,601 2,164,240
    JPMORGAN CHASE 5.15 257,500 256,118
    JPMORGAN CHASE 3.9316% 203,700 199,998
    JPMORGAN CHASE 6.75 111,081 108,388
    KINDER MORGAN ENERGY PARTNERS LP 1,193,932 1,386,530
    LLOYDS BANKING GROUP 1,006,417 1,050,330
    M&T BANK CORP FXD TO 112026 1,030,648 1,071,250
    MCDONALDS CORP 1,179,852 1,423,680
    MICRON TECHNOLOGY INC 2,019,760 2,368,900
    MORGAN STANLEY 032023 VAR THRAFTR 5.300% 927,803 1,037,500
    SVB FINANCIAL GROUP FXD TO 112026 VAR THRAFTR 4.25% 302,962 304,200
    SYNCHRONY FINANCIAL 1,812,646 2,125,080
    SYNOVUS FINANCIAL CORP FXD TO 022024 VAR THRAFTR 5.9000% 2,019,573 2,138,460
    TIME WARNER CABLE LLC 1,069,080 1,310,980
    VERIZON COMMUNICATIONS INC 1,204,128 1,567,800
    VIRGINIA ELECTRIC & POWER CO 1,195,781 1,370,020
    ACCRUED INTEREST 0 591,193

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Name of Stock End of Year Book Value End of Year Fair Market Value
    APPLE INC 377,035 1,846,728
    ABBVIE INC COM 163,119 203,100
    DOW INC 483,435 453,760
    GILEAD SCIENCE 164,933 181,525
    GARMIN LTD 23,783,815 30,061,979
    3M COMPANY 183,280 177,630
    ALTRIA GROUP INC 116,371 118,475
    MORGAN STANLEY 5.85%-K 100,000 116,360
    PFIZER INC 343,668 559,499
    JPM 8% CONTIINGENT AUTOCALL FB 200,000 179,400
    CITI 8.5% CONTINGENT AUTOCALL ABBV 200,000 202,400
    JPM 10.55% CONTINGENT AUTOCALL MD 200,000 205,600
    RBC 14.755% CONTINGENT AUTOCALL UBER 100,000 100,500
    GS 13.7% CONTINGENT AUTOCALL ABNB 100,000 103,640
    VERIZON COMMUNICATIONS 389,723 363,876

    TY 2021 InvestmentsOtherSchedule2
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    CREDIT SUISSE FLT RT HI INC AT COST 249,621 240,274
    DOUBLELINE TOTAL RETURN N AT COST 400,000 370,736
    MSIF ULTRA-SHORT INCOME A AT COST 421,945 421,942
    METROPOLITAN WST UNCNSTRD BD M AT COST 249,999 246,838
    TEMPLETON GLOBAL BD FD A AT COST 330,805 236,230
    GCM GROSVENOR NET LEASE III FEEDER FUND AT COST 183,686 183,686
    BLACKSTONE BREIT AT COST 305,443 360,995
    BLACKSTONE BCRED AT COST 211,174 214,673

    TY 2021 LegalFeesSchedule
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL 260 0   260


    TY 2021 OtherExpensesSchedule
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    GCM GROSVENOR AG NET LEASE III FEEDER FUND P/T EXPENSES 758 758   0
    MAILBOX RENTAL 90 0   90
    MISCELLANEOUS EXPENSE 6 5   1
    OFFICE SUPPLIES & SOFTWARE 6,353 0   6,353
    PAYROLL PROCESSING FEES 1,424 0   1,424
    WEBSITE MAINTENANCE 1,654 0   1,654


    TY 2021 OtherIncomeSchedule2
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OPTION PREMIUMS-MORGAN STANLEY 009 18,275 18,275 18,275
    GCM GROSVENOR AG NET LEASE III FEEDER FUND 451 451 451


    TY 2021 OtherIncreasesSchedule
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Description Amount
    UNREALIZED GAIN ON GRANT OF APPRECIATED STOCK 2,488,557


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PHILANTHROPHY CONSULTING 30,000 0   30,000


    TY 2021 TaxesSchedule
    Name:
    KAO FAMILY FOUNDATION
    EIN:
    20-2014620
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    2020 EXTENSION PAYMENT 15,000 0   0
    2021 ESTIMATED TAXES 35,000 0   0
    FOREIGN TAXES PAID 743 743   0
    ANNUAL REGISTRATION/FRANCHISE FEE 190 0   190
    PAYROLL TAXES 8,070 0   8,070