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KASF ERC Board of Directors Meeting

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 ERC Board of Directors Meeting

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  1. KASF ERCBoard of Directors Meeting November 19, 2011

  2. 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

  3. Welcome Exec. Dir. David Yang Korean American Scholarship Foundation

  4. President’s Remarks President Leonard Kim Korean American Scholarship Foundation

  5. 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

  6. Introduction of New Board of Directors Dr. Patrick Lee Korean American Scholarship Foundation

  7. 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

  8. Review of KASF-ERC Finance Bom Hoe Huh Korean American Scholarship Foundation

  9. Korean American Scholarship Foundation

  10. KASF Investment Portfolio Yoon Soo Park Chair, KASF NBD Investment Committee

  11. 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.

  12. Scholarship Committee Report Ed Chun

  13. 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

  14. Breakdown of 2011 KASF Scholarship Recipients High SchoolUndergraduateGraduateDesignatedTotal 4 23 22 4 53 U.S. CitizensVisa Students 35 18

  15. The 42nd Annual Scholarship AwardsBanquet

  16. Closing Remarks Mr. Nae Won Lee Korean American Scholarship Foundation

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