The income that supports the activities of the National Academy of Sciences (NAS) comes from two major sources: program revenue received from sponsors to pay for the myriad studies and other activities undertaken each year by the National Research Council (NRC), and a much smaller sum that is obtained from our endowment under the endowment spending policies adopted by the Council. The goal of the endowment is to provide stable support for the Academy's programs and activities. To achieve this goal, the Council, acting on the recommendations of the Finance Committee, has historically authorized spending from the portfolio at a rate designed to maintain the purchasing power of the endowment over time.
This Report of the Treasure of the National Academy of Sciences presents the financial position and results of operations as well as a review of the endowment, trust, and other long-term investments portfolio activities of our Academy for the year ended December 31, 2011. While this book provides essential financial summary to key personnel, it also serves as a vital informative resource for various members of the public, private, and governmental sectors.
Table of Contents
|SCHEDULE 1 Endowment, Trust, and Other Longterm Investments Pool Description of Funds for the Year Ended December 31, 2011||8-16|
|SCHEDULE 1-A Endowment, Trust, and Other Long-term Investments Pool Financial Detail of Funds for the Year Ended December 31, 2011||17-20|
|SCHEDULE 2 Endowment, Trust, and Other Long-term Investments Pool Asset Allocation as of December 31, 2011||21-21|
|SCHEDULE 2-A Endowment, Trust, and Other Long-term Investments Pool - Change in Valuation and Market Value Summary||22-22|
|II. Private Contributions||23-23|
|Donor Recognition--Private Contributors||24-34|
|Foundations, Corporations and Other Organizations||35-38|
|III. Financial Condition||39-39|
|Report of the Auditing Committee||40-40|
|Independent Auditor's Report--Letter from KMPG||41-41|
|Statements of Financial Position||42-42|
|Statements of Activities||43-43|
|Statements of Cash Flows||44-44|
|Notes to Financial Statements||45-62|
|2011 Officers and Committees||63-64|
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