The Liu Kuo-Sung Foundation
- Assets
- $273.3k
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Fremont, CA
- Founding
- Data as of
- 03/2023
- EIN
- 87-1099240
Organization Overview
The Liu Kuo-Sung Foundation is located in Fremont, CA. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liu Kuo-Sung Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, Liu Kuo-Sung Foundation generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 57.9% each year . All expenses for the organization totaled $2.2m during the year ending 03/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION DONATED 20 PIECES OF LIU, KUO-SUNG'S PAINTINS TO NATIONAL GALLERY SINGAPORE AS A PART OF THEIR REGULAR EXHIBITION.
THE LIU KUO-SUNG CATALOG RAISONNETHIS IS A PROJECT TO PUBLISH ALL THE WORKS THAT ARE DONE BY ARTIST LIU KUO-SUNG. THE LIU KUO-SUNG FOUNDATION IS COLLABORATING WITH HARVARD CAMLAB THAT IS HEADED BY PROF. EUGENE WANG FOR THIS PROJECT. THERE WILL BE 4-6 VOLUMES PUBLISHED AND WE ARE WORKING ON THE FIRST VOLUME. THE TARGET PUBLISH DATE FOR FIRST VOLUME IS FEB 2025. WE HAVE SIGNED A 5-YEAR COLLABORATION PLAN WITH HARVARD UNIVERSITY AND THE YEARLY BUDGET IS $200K.
FOUNDED IN 2019, THE LIU KUO-SUNG INK AWARD IS JOINTLY PRESENTED BY THE LIU KUO-SUNG FOUNDATION AND THE INK SOCIETY IN HONG KONG. THE AWARD WILL RECOGNIZE OUTSTANDING ACHIEVEMENT IN THE CREATION OF CONTEMPORARY INK ART IN THE GREATER CHINA REGION. A COMMITTEE COMPOSED OF CURATORS AND ART CRITICS WILL NOMINATE CANDIDATES FOR CONSIDERATION OF THE LIU KUO-SUNG AWARD. THE NOMINATED CANDIDATES MUST BE UNDER 40 YEARS OLD. A DISTINGUISHED PANEL OF JUDGES WILL MEET AND DISCUSS TO SELECT THE FINAL WINNER. THIS IS A BI-ANNUAL AWARD. THE FIRST AWARD WAS GRANTED IN 2019, SECOND AWARD IN 2021 AND 2023 WILL BE THE YEAR FOR THE THIRD AWARD. THIS YEAR'S AWARD'S FINAL JUDGING MEETING IS ON AUGUST 2, 2023 IN HONG KONG. JUDGES ARE: LIU KUO-SUNG, LIN MU, TINA PANG, ANDY HEI AND HSIEH SU-CHEN.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lin Lee CEO | 1 | $0 | |
Lin-I Liu Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,757,808 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,757,808 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,244 |
| Total operating and administrative expenses | $6,244 |
| Contributions, gifts, grants paid | $2,182,808 |
| Total expenses and disbursements | $2,189,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,345 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $190,000 |
| Total assets | $273,345 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, The Liu Kuo-Sung Foundation has awarded $2,182,808 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HARVARD UNIVERSITY PURPOSE: IN COLLABORATION WITH HARVARD UNIVERSITY TO PUBLISH ALL THE WORKS DONE BY ARTIST LIU, KUO-SUNG, KNOWN AS THE "FATHER OF MODERN CHINESE INK PAINTINGS". | $200,000 |
NATIONAL GALLERY SINGAPORE PURPOSE: THE FOUNDATION DONATED LIU, KUO-SUNG'S PAINTINGS TO NATIONAL GALLERY SINGAPORE TO BE PART OF THEIR REGULAR EXHIBITION. | $1,815,000 |
THE LIU KUO-SUNG ARCHIVES PURPOSE: THE FOUNDATION ORGANIZED "THE LIU KUO-SUNG INK ART AWARDS" TO RECOGNIZE OUTSTANDING ACHIEVEMENT IN THE CREATION OF CONTEMPORARY INK ART IN THE GREATER CHINA REGION. THE FOUNDATION CONTRACTED WITH A COMPANY IN TAIWAN TO HELP ORGANIZE THIS AWARD AS WELL AS ARRANGE FOR EXHIBITION OF LIU'S ART WORKS. | $167,808 |