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KASF ERC Board of Directors Meeting. November 19, 2011. Agenda. Welcome – Exec. Dir. David Yang President’s Remarks - Leonard Kim Introduction of New BoDs – Dr. Patrick Lee Scholarship Committee Report – Dr. Ed Chun Banquet Committee Report – Sophia Park/Mihae Kim
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KASF ERCBoard of Directors Meeting November 19, 2011
Agenda • Welcome – Exec. Dir. David Yang • President’s Remarks - Leonard Kim • Introduction of New BoDs – Dr. Patrick Lee • Scholarship Committee Report – Dr. Ed Chun • Banquet Committee Report – Sophia Park/Mihae Kim • KASF-ERC Financial Report – Bom Hoe Huh • KASF Endowment Status – Dr. Yoonsoo Park • Closing Remarks Korean American Scholarship Foundation
Welcome Exec. Dir. David Yang Korean American Scholarship Foundation
President’s Remarks President Leonard Kim Korean American Scholarship Foundation
2011 Scholarship Goal - $100k • $57k from Chair Scholarships • $20k from Designated Scholarships • $10k from Banquet • $10k from 9/11 Music Concert • $ 5k from the savings in operations cost. • $103k – Estimated
Introduction of New Board of Directors Dr. Patrick Lee Korean American Scholarship Foundation
Intro of New BoDs • Mr. Joon Jae Song – CEO of a CPA firm in Annadale. • Mr. Henry Choi – CTO, Northrop Grumman. • Ms. Mihae Kim – President, Gimga Design Korean American Scholarship Foundation
Review of KASF-ERC Finance Bom Hoe Huh Korean American Scholarship Foundation
KASF Investment Portfolio Yoon Soo Park Chair, KASF NBD Investment Committee
The total household account value stood at $3,294,995 on October 31st, 2011. Intraday at 12:48pm P.S.T., November 10, 2011 the portfolio was valued at $3,281,236. This represents a change of ($13,759) or -0.42% since the beginning of the month. Currently, the S&P 500 (unaudited figures) has declined -3.6% since October 31st, 2011 until intraday November 10th.
Scholarship Committee Report Ed Chun
2011 KASF Scholarship Recipients Over 500 applications started 177 applications completed 53 KASF Scholarships awarded (less than 1 out of 3) 3 Super Scholarships awarded for $5,000 each Most awarded $2,000 High School students awarded $500 Overall, KASF awarded $104,500 this year
Breakdown of 2011 KASF Scholarship Recipients High SchoolUndergraduateGraduateDesignatedTotal 4 23 22 4 53 U.S. CitizensVisa Students 35 18
Closing Remarks Mr. Nae Won Lee Korean American Scholarship Foundation