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OCR for page 7
Report of the Treasurer of the National Academy of Sciences
I.
Investments
OCR for page 8
Report of the Treasurer of the National Academy of Sciences
Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2008
Capital Contribution (Column 1 of Schedule 1–A)
I. Funds that Support the NAS
A. General Fund
Agassiz Fund—Bequest of Alexander Agassiz, a member of the Academy.
$50,000
Carnegie Fund—Balance of the original gift of $5,000,000 from the Carnegie Corporation of New York, for the purposes of the National Academy of Sciences/National Research Council, $1,725,000 of which has been used to cover the cost of the Academy building and the acquisition of other property.
3,275,000
Commonwealth Fund—A grant of the Commonwealth Fund for capital endowment of the Academy.
500,000
Carl Eckart Fund—Bequest of Carl Eckart received for the general purposes of the Academy.
1,246,366
Ford Foundation Fund—A grant of the Ford Foundation for capital endowment of the Academy.
5,000,000
Henrietta and Alexander Hollaender Fund—A bequest to the Academy from Dr. Alexander and Mrs. Henrietta Hollaender.
500,000
Grayce B.Kerr Fund—A grant from Grayce B.Kerr for the general purposes of the Academy.
250,000
Nealley Fund—Bequest of George True Nealley for the general purposes of the Academy.
19,556
Simon Ramo Fund—A gift from Simon Ramo for the general purposes of the Academy.
14,000
Rockefeller Foundation Fund—A grant of the Rockefeller Foundation to the National Academy of Sciences for the general purposes of the Academy.
1,000,000
Dorothea and Herbert Simon Fund—A gift from Dorothea and Herbert Simon for the general purposes of the Academy.
644,616
Sloan Foundation Fund—A grant of the Alfred P.Sloan Foundation for the general purposes of the Academy.
1,000,000
Amy Prudden Turner Fund—Bequest of Amy Prudden Turner for the general purposes of the Academy to serve as a memorial to her husband Scott and herself.
29,662
Anonymous Endowment Fund—A gift for the general purposes of the Academy from a donor who wishes to remain anonymous.
7,146,660
General Endowment Fund—Bequest of David Lloyd Fillman and others for the general purposes of the Academy. By action of the Council, the International Critical Tables were transferred into this fund during fiscal year 1976, and proceeds from the sale of the Audubon Folios were transferred in fiscal year 1981.
3,606,295
Members Endowment Fund—Contributions from various members to be used for the general purposes of the Academy.
2,717,179
Subtotal—General Fund
$26,999,334
B.Woods Hole
Peter C.Cornell Trust Fund—To memorialize Detlev W.Bronk, former member and president of the Academy, for his contributions to science and the nation and to recognize the leadership and notable accomplishments of John S.Coleman as a member of the Academy’s staff. The gift may be fully expended for its intended purpose.
$100,000
J.Erik Jonsson Woods Hole Fund—A gift for the Woods Hole Study Center of the NAS in honor of J.Erik Jonsson, one of the founders of Texas Instruments and a former mayor of Dallas. The donor wishes to remain anonymous.
2,002,500
Richard King Mellon Foundation Fund—Grant from the Richard King Mellon Foundation for maintenance of the building and grounds at the Woods Hole Study Center.
50,000
Penzance Foundation Fund—A grant for the J.Erik Jonsson Woods Hole Study Center especially for support of the property’s Clark Carriage House.
502,500
Woods Hole Endowment—Contributions from the Brown Foundation and various individuals for maintenance of the Woods Hole Study Center.
971,400
OCR for page 9
Report of the Treasurer of the National Academy of Sciences
Capital Contribution (Column 1 of Schedule 1–A)
Woods Hole Fund—Contributions from various individuals for maintenance of the Woods Hole Study Center.
12,874
Subtotal—Woods Hole
$ 3,639,274
C. Presidents’ Committee Fund
Basic Science Fund—Earth Sciences—Contribution from an anonymous donor to match a gift from the Palisades Geophysical Institution of New York. Together these contributions will be used to establish the Maurice Ewing and Planetary Sciences Fund of the National Academy of Sciences.
$503,231
Biology and Biotechnology Fund—Contributions from various individuals to be used for studies and other activities that address emerging research and policy issues affecting biology and biotechnology, especially cross-disciplinary aspects and those involving the interface of science, technology, and commerce and used for dissemination and outreach efforts that seek to inform policymakers about the financial of the results.
420,232
Thomas Lincoln Casey Fund—Bequest of Thomas L.Casey as a memorial to his father, Thomas Lincoln Casey, to be used in the advancement of engineering in all its applications.
258,081
The Coca–Cola Foundation Fund—A grant to be used for initiatives in precollege science and mathematics education.
50,000
Arthur L.Day Fund—A bequest of Arthur L.Day, a member of the Academy, for the purpose of advancing studies of the physics of the earth.
5,047,846
Cecil and Ida Green Fund—A gift from Cecil and Ida Green to be used to support activities dedicated to improving the quality of life of our people.
467,256
W.K.Kellogg Foundation Fund—A grant of the W.K.Kellogg Foundation for an endowment in the areas of education, health, and agriculture. The income will be used to fund studies and other activities within these program areas such as enhancing the quality of U.S. education, assuring access to quality health care, assessing the role of biotechnology in the future of agriculture, and similar issues as they arise.
20,000,000
Kobelt Fund—Bequest of Nina I.Kobelt to be used for research scholarships for worthy students.
296,593
Andrew W.Mellon Foundation Fund—A grant from the Andrew W.Mellon Foundation to endow a program of Academy-initiated studies.
1,000,000
George and Cynthia Mitchell Endowment for Sustainability Sciences—Contribution from the George and Cynthia Mitchell Foundation to be held and used by the Academy in perpetuity to guide academic, government and other institutions in the development of sustainability science and to encourage the world’s business community to apply knowledge from this new field in business practices.
14,000,000
George and Cynthia Mitchell Matching Endowment—Contributions from public and private sources to be used to support the same purposes as the original George and Cynthia Mitchell Endowment for sustainability Sciences. Also, to raise funds to be eligible for a matching gift from George and Cynthia Mitchell.
39,749
Frank Press Fund for Dissemination and Outreach—Established with contributions from members of the Presidents’ Circle of the NAS, NAE, and the IOM, the income from the fund is to support a variety of dissemination and outreach activities that seek to share the Academy’s complex knowledge and resources with the policy making community and the general public.
1,167,255
Scientists and Engineers for the Future Fund—Contribution from an individual who wishes to remain anonymous. The income from this fund is used to support educational projects focused on maintaining the health of American science and technology by ensuring an adequate supply of well-prepared American scientists and engineers for the future.
1,000,000
Subtotal—Presidents’ Committee Funds
$44,250,243
OCR for page 10
Report of the Treasurer of the National Academy of Sciences
Capital Contribution (Column 1 of Schedule 1–A)
D. Program Specific Funds
Arnold and Mabel Beckman Fund of the National Academies of Sciences and Engineering—A fully expendable fund designated for support of programs at the Beckman Center. The fund was established to receive contributions of unexpended income from the TNAC operations endowment as well as earnings from the TNAC program endowment.
$11,951,876
Billings Fund—Bequest of Mrs. Mary Ann Palmer Draper (Mrs. Henry Draper) to support publication of the Proceedings of the National Academy of Sciences or for other purposes to be determined by the Academy.
50,102
Blakeslee Fund—Bequest of Albert Francis Blakeslee, the income from which is to be used in support of genetics research.
886,902
Henry G.Booker Fellowship Fund—Contributions from various individuals to provide a travel grant to one young American radio scientist to attend each International Union of Radio Science Assembly as a Henry G.Booker Fellow.
20,826
Cultural Programs of the National Academy of Sciences Fund—Contributions from various sources for sponsoring free cultural programs of merit for local residents and for providing a platform for musicians and artists.
18,934
Henry and Bryna David Endowment—A bequest of Henry and Bryna David for the establishment and funding of the Henry and Bryna David Endowment to support the communication of insights and discoveries from the social and behavioral sciences to policy makers and other decision makers to promote informed public policy and staff development through various Academy activities.
850,000
Global Commons Project Fund
39,058
Marian Koshland Science Museum Fund—Contributions from Dr. Daniel E.Koshland, Jr. and the Koshland Foundation to fund the operation and activities of the museum for the purpose of extending the resources of the National Academies and increasing public understanding of the nature and value of science. Dr. Koshland’s original commitment of $30 million was completed in 2004. The gift was used to fund the museum’s opening in April 2004 and ongoing operations until November 2004, when the remainder was invested in the Endowment and Other Long-term Investments Pool.
22,786,243
Bruce Alberts Fund of the Marian Koshland Science Museum—Contributions from Dr. Daniel E.Koshland, Jr. and the Koshland Foundation to support the travelling costs of the museum’s exhibits, to fund new exhibits to replace traveling exhibits, and to extend the museum’s outreach to school districts.
5,194,909
National Science Resources Center Fund—Funded by royalty revenues from elementary and middle school science kits developed by the National Science Resources Center (NSRC). Funds will be used to provide core support of NSRC programs to enhance and improve the learning and teaching of science in domestic and international schools.
4,986,473
New Canaan Library Fund—Contribution from the Board of the New Canaan Library to permanently maintain a current National Academies book collection in honor of Dr. H.R.Shepherd at their library.
4,000
Kumar and Shela Patel Endowment for US-India Dialogs—To support US-India scientific and technical communication and dialog through various Academy activities.
600,000
Arthur M.Sackler Colloquia of the National Academy of Sciences Fund—A gift from Mrs. Arthur M.Sackler to endow a series of scientific symposia that promote interaction among world-class researchers in rapidly advancing scientific fields.
4,375,000
The Raymond and Beverly Sackler USA-UK Scientific Forum Endowment—Contribution from the Raymond and Beverly Sackler Foundation to endow a bilateral scientific forum. The primary purpose of this Forum is to forge a partnership between the scientific leadership of the United Kingdom and the United States through conferences and meetings on topics of immediate and future scientific concern.
2,025,108
OCR for page 11
Report of the Treasurer of the National Academy of Sciences
Capital Contribution (Column 1 of Schedule 1–A)
U.S. National Committee for the International Astronomical Union (USNC/IAU) Fund— Contributions from USNC/IAU to provide funds in support of participation by U.S. astronomers in the activities of the International Astronomical Union Triennial General Assemblies.
100,000
NAS Members Endowment(s)—Additional member contributions that have been designated for special purposes, such as the Board on Chemical Sciences Fund and the Section 14 Chemistry Discretionary Fund.
58,941
Subtotal—Program Specific Funds
$53,948,372
E. Prizes and Awards
American Psychological Association (APA) Science Directorate Fund—A gift from the APA to conduct activities that will help inform the public of the knowledge base, value, and importance of behavioral science research.
$30,000
Henryk Arctowski Fund—Bequest of Jane Arctowski in memory of her husband Henryk Arctowski, for the promotion and study of solar activity changes of short or long duration and their effects upon the ionosphere and terrestrial atmosphere.
95,736
Bache Fund—Bequest of Alexander Dallas Bache, a member of the Academy, to aid research in the physical and natural sciences.
60,000
Blaauw Fund—Bequest of Marianne Blaauw to establish the Edmond and Marianne Blaauw Fund to support research in the field of ophthalmology.
71,299
John J.Carty Fund—Gift of the American Telephone and Telegraph Company in recognition of the distinguished achievements of John J.Carty and as a lasting testimonial of the love and esteem in which he was held by his many thousands of associates in the Bell System, for a gold medal and award for noteworthy and distinguished accomplishments in any field of science.
25,000
Comstock Fund—Gift of General Cyrus B.Comstock, a member of the Academy, to promote research in electricity, magnetism, or radiant energy through the Comstock Prize to be awarded for notable investigations.
10,400
Draper Fund—Gift of Mrs. Henry Draper in memory of her husband, a former member of the Academy, to found the Henry Draper Medal to be awarded for notable investigations in astronomical physics; the balance of income is applied to aid research in this science.
6,000
Elliot Fund—Gift of Margaret Henderson Elliot to found the Daniel Giraud Elliot Gold Medal and Honorarium for the most meritorious work on zoology and paleontology published in each year.
8,000
Estes Award in Social and Behavioral Sciences—A gift from William K. and Katherine W.Estes to be used initially for an award relating to contributions to the prevention of nuclear war. After several awards are given for this purpose, the remaining money will be set aside for use by the Division of Behavioral and Social Sciences and Education.
79,849
Gibbs Brothers Fund—Gift of William Francis Gibbs and Frederic H.Gibbs to found the Gibbs Brothers Medal for outstanding contributions in the field of naval architecture and marine engineering.
24,000
Gibbs Fund—Established by gift of Wolcott Gibbs, a member of the Academy, and increased by a bequest of the late Morris Loeb in 1914 for the promotion of research in chemistry.
5,274
Ralph E.Gomory Award for the Application of Science—A grant from the International Business Machines Corporation for an award to be given in honor of Ralph Gomory.
179,046
Gould Fund—Gift of Mrs. Alice Bache Gould in memory of her father, former member of the Academy, for the promotion of research in astronomy, bequest of $20,000 from the estate of Alice Bache Gould received in 1954, and bequest of $10,000 from the estate of Elizabeth Chandler Hockley received in 1979.
50,000
OCR for page 12
Report of the Treasurer of the National Academy of Sciences
Capital Contribution (Column 1 of Schedule 1–A)
Joseph Henry Fund—Contributions by Fairman Rogers, Joseph Patterson, George W.Childs, and others as an expression of their respect and esteem for Joseph Henry, for the establishment of a fund to assist meritorious investigators, especially in the direction of original research.
39,740
Alexander Hollaender Award in Biophysics—A bequest of Alexander Hollaender, the income from which is to be used to provide a prize to an outstanding biophysicist. The prize is to be given at the Annual Meeting of the Academy, with selection of the recipient at the Academy’s discretion.
100,000
Hunsaker Fund—Gift of Mr. and Mrs. J.C.Hunsaker to found an Academy award in the field of aeronautical engineering.
24,750
Franklin Livingston Hunt Fund—Bequest of Franklin Livingston Hunt to aid research in physics, chemistry, and preventive medicine. A portion of the income may also be used from time to time to provide a medal to be known as the Franklin Livingston Hunt Medal for distinguished accomplishment in scientific research.
10,465
Kovalenko Fund—Gift of Michael S.Kovalenko, in memory of his wife, to found the Jessie Stevenson Kovalenko Gold Medal for meritorious research in medical sciences.
63,789
Marsh Fund—Bequest of Othniel Charles Marsh, a member of the Academy, to promote original research in the natural sciences.
10,000
George P.Merrill Fund—Gift of Mrs. George P.Merrill, the income from which is to be used for studies of meteors, meteorites, and space.
10,000
Stanley Miller Award—Bequest of Stanley L.Miller, member of the Academy, to establish a medal to be awarded to a recipient selected by the Academy for work or contributions to early earth studies. The National Academy of Sciences Award in Early Earth and Life Sciences will rotate presentations of the Stanley Miller Medal for research on early earth sciences and the Charles Doolittle Walcott Medal for research on Cambrian or pre-Cambrian life and its history.
154,554
Monsanto Award in Molecular Biology—A grant from the Monsanto Company for an award to be given in recognition of contributions in the field of molecular biology.
421,374
Murray Fund—Gift of the late Sir John Murray to found the Alexander Agassiz Gold Medal in honor of a former member and president of the Academy, to be awarded for original contributions to the science of oceanography.
6,000
National Academy of Sciences Award for Chemistry in Service to Society—Established by the E.I.DuPont de Nemours & Company to recognize contributions to chemistry, whether in fundamental science or its applications, that clearly satisfy a societal need. Given in alternate years to chemists working in industry, academia, government, and nonprofit organizations.
181,838
National Academy of Sciences Award in Mathematics—Established by the American Mathematical Society for a prize to be awarded every four years in mathematics.
53,597
National Academy of Sciences Award in Chemical Sciences—An annual award currently sponsored and endowed by The Merck Company Foundation to recognize distinction in research and broad fundamental impact in pure chemistry. This award was originally established by the Occidental Petroleum Corporation in honor of Armand Hammer.
478,277
National Academy of Sciences Award in Neuroscience—Established by the Fidia Research Foundation for an award in neuroscience, to be given every three years.
140,206
National Academy of Sciences Fund for Sciences and Technology in International Affairs—Contributions from Cecil and Ida Green, J.Erik Jonsson, Jerome B.Wiesner, and Academy sources to establish the National Academy of Sciences Fund for Sciences and Technology in International Affairs in honor of Walter A.Rosenblith.
49,119
Pradel Fund—A bequest of Jules Pradel to be applied to work on the human central nervous system and allied subjects.
16,392
H.P.Robertson Lectureship Fund—Contributions by friends of H.P.Robertson, foreign secretary of the Academy, to establish a lectureship under which distinguished scientists would be invited from anywhere in the world to present lectures to be known as the Robertson Memorial Lecture of the National Academy of Sciences.
20,325
OCR for page 13
Report of the Treasurer of the National Academy of Sciences
Capital Contribution (Column 1 of Schedule 1–A)
Helen P.Smith Fund—A bequest of Helen P.Smith in memory of her husband, Gilbert Morgan Smith, to establish a triennial medal and honorarium to be conferred in recognition of published research in marine and freshwater algae.
67,107
Mrs. J.Lawrence Smith Fund—Gift of Mrs. J.Lawrence Smith in memory of her husband, a former member of the Academy, to found the J.Lawrence Smith Gold Medal to be awarded for important investigations of meteoric bodies and to assist, by grants of money, research concerning such objects.
8,000
Thompson Fund—Gift of Mrs. Mary Clark Thompson for a gold medal of appropriate design, to be known as the Mary Clark Thompson Gold Medal, to be awarded for important services to geology and paleontology.
10,000
Troland Fund—Bequest of Leonard T.Troland to be known as the Troland Foundation for Research in Psychophysics. The income is to be expended with a view to the actual advancement of scientific knowledge in the field of psychophysics.
505,359
Walcott Fund—Gift of Mrs. Mary Vaux Walcott in honor of her husband, a former member and president of the Academy, to establish a medal to be awarded to a recipient selected by the Academy for work or contributions to Cambrian or pre-Cambrian life and its history. The National Academy of Sciences Award in Early Earth and Life Sciences will rotate presentations of the Charles Doolittle Walcott Medal for research on Cambrian or pre–Cambrian life and its history and the Stanley Miller Medal for research on early earth sciences.
5,000
G.K.Warren Fund—Gift of Miss Emily B.Warren in memory of her father, a member of the Academy, the income from which is to be used for an award to be known as the G.K.Warren Prize in any field of science.
15,000
Watson Fund—Bequest of James Craig Watson, a member of the Academy, for the promotion of astronomical sciences through the award of the Watson Gold Medal and grants of money in aid of research.
25,000
Subtotal—Prizes and Awards
$3,060,496
F. Reserve Funds
National Academy of Sciences Reserve Fund—Accumulated surplus from prior years’ NAS General Fund operating budget. The reserve provides additional funding for ongoing operations during periods of market decline.
$4,090,168
Proceedings of the National Academy of Sciences (PNAS) Fund
1,000,000
Transportation Research Board (TRB) Reserve Fund—Holds income in excess of expenditures for TRB core support activities in a fiscal year. This fund is used to cover temporary shortfalls and extraordinary one-time expenditures.
1,500,000
Subtotal—Reserve Funds
$6,590,168
Subtotal—Funds that Support the NAS
$138,487,887
II. Funds that Support the IOM
A. General Funds
General Endowment Fund—Contributions from various sources, including members of the Institute of Medicine, for capital endowment of the Institute of Medicine.
$1,113,097
Robert Wood Johnson Foundation Fund—An endowment grant, the income from which is to be used for core support of the Institute of Medicine.
5,000,000
Institute of Medicine Kellogg Fund—A grant from the Kellogg Foundation to be used for the general purposes of the Institute of Medicine.
282,500
Institute of Medicine Members’ Dues
197,500
OCR for page 14
Report of the Treasurer of the National Academy of Sciences
Capital Contribution (Column 1 of Schedule 1–A)
Henry J.Kaiser Family Foundation Fund—Contribution to an endowment fund to support core activities of the Institute of Medicine. The grant indicates the Foundation’s view that the Institute of Medicine is of great importance to the development of sound social policy related to health. In 1989 this grant was amended by the Kaiser Family Foundation to provide for the transfer of $250,000 as a matching contribution to the endowment contribution to the Institute of Medicine’s Food and Nutrition Board.
488,485
John D. and Catherine T.MacArthur Foundation Fund—A grant to be used exclusively as an endowment to the Institute of Medicine, the income from which is restricted to the general purposes of the Institute.
5,000,000
Pharmaceutical Discretionary Fund—A grant from W.K.Kellogg to further the Institute of Medicine’s long-range program development.
480,000
Pharmaceutical Endowment Fund—Contributions of $250,000 over a period of five years from Glaxo, Inc., and $10,000 from Eli Lilly Company, the income from which is to be used for the general purposes of the Institute of Medicine.
259,448
Miscellaneous Private Sector Fund—Contributions from Kaiser Permanente to be used for core support requirements of the Institute of Medicine.
26,346
Subtotal—General Funds
$12,847,376
B. Program Specific Funds
Distinguished Scholar Fund—Contributions from various IOM members to permit the selection of one or more persons of senior caliber to spend a period of time at the IOM in scholarly pursuits related to key program initiatives.
$16,550
Food and Nutrition Board (FNB) Fund—Grant of $250,000 to the Institute of Medicine as a contribution to the endowment fund to support core activities of the Food and Nutrition Board. This award was contingent on the Institute of Medicine transferring a matching amount from the 1986 unrestricted contribution from the Kaiser family for general core support of the Institute. Further contributions to the FNB endowment would be matched by one dollar from the earlier grant for every two dollars of new contributions.
525,350
Food and Nutrition Board Corporations Fund—Contributions from Monsanto Company and Nestle, USA, Inc., to provide support for FNB activities.
125,000
Food and Nutrition Board Members Fund—Contributions from various members to be used for general purposes of the Food and Nutrition Board.
4,550
Norman F.Gant, M.D. and American Board of Obstetrics and Gynecology Fellowship Fund—A gift from the American Board of Obstetrics and Gynecology for an endowment to establish the Norman F.Gant, M.D. and American Board of Obstetrics and Gynecology Fellowship fund at the Institute of Medicine for an early career health scientist in the field of obstetrics and gynecology, as part of IOM’s Anniversary Fellows program.
650,000
David and Betty Hamburg Endowment Fund—Contributions from various individuals in support of communication/dissemination programs, collaborations among key public health stakeholders, and forward-looking studies. This fund honors former IOM president David Hamburg and his wife, colleague, and longtime NRC participant Beatrix Hamburg.
987,775
Howard Hughes Medical Institute Fund—Contribution for the exclusive use of the Institute of Medicine to initiate and maintain a program of studies whose purpose is to foster the translation of science into advances in health.
5,000,000
Kellogg Health of the Public Fund—Contribution for the establishment of the Kellogg Health of the Public Fund, an endowment which shall be held and used by the National Academy of Sciences to advance the Institute of Medicine’s capacity to contribute to the improvement of the health of America’s communities.
4,460,620
Kellogg Health of the Public Fund Matching Contributions—In response to the Kellogg challenge grant to match dollar for dollar up to $2.5 million to support communication and outreach activities now and for future projects.
2,278,844
OCR for page 15
Report of the Treasurer of the National Academy of Sciences
Capital Contribution (Column 1 of Schedule 1–A)
Richard and Hinda Rosenthal Lecture Series—Through the generosity of the Richard and Hinda Rosenthal Foundation, a lecture series was established in 1988. In 2000, the Richard and Hinda Rosenthal Lecture Series was endowed at the Institute of Medicine of the National Academy of Sciences to bring greater attention to some of the critical health policy issues facing the country.
1,000,000
Women’s Health Issues Fund—Contribution from Syntex (U.S.A.), Inc., to be used for purposes related to women’s health issues.
20,000
Subtotal—Program Specific Funds
$15,068,689
C. Prizes and Awards
Gustav O.Lienhard Award—Initially established by an annual grant award in 1986, the Robert Wood Johnson Foundation in 1991 approved a grant for endowment of the Gustav O.Lienhard Award to be given annually in recognition of an outstanding contribution to the advancement of health care.
1,200,000
Rhoda and Bernard G.Sarnat International Prize in Mental Health—A grant from Rhoda and Bernard G.Sarnat for the purpose of honoring an individual, group, or organization for distinguished accomplishments in the field of mental health.
1,009,179
Subtotal—Prizes and Awards
$2,209,179
D. Reserve Funds
IOM Reserve Fund—Unexpended balance earned on endowment based on IOM Council spending plan. The IOM reserve permits the effective management of unanticipated financial emergencies.
$500,000
Subtotal—Reserve Funds
$500,000
Subtotal—Funds that Support the IOM
$30,625,244
Subtotal—NAS and IOM Funds
$169,113,131
III. FUNDS HELD ON BEHALF OF OTHERS
A. The National Academies’ Corporation (TNAC)
Operations Endowment—An endowment from the Arnold and Mabel Beckman Foundation to TNAC to support operations of the Beckman Center in Irvine, California. The endowment is held on behalf of TNAC and invested by the NAS.
$8,000,000
Program Endowment—An endowment from the Arnold and Mabel Beckman Foundation to TNAC to support NRC program activities conducted in whole or in part at the Beckman Center. The endowment is held on behalf of TNAC and invested by the NAS.
1,939,644
Subtotal—The National Academies’ Corporation
$9,939,644
TOTAL
$179,052,775
OCR for page 16
Report of the Treasurer of the National Academy of Sciences
Endowment, Trust, and Other Long-term Investments Pool Financial Detail of Funds for the Year Ended December 31, 2008
(Dollars in thousands)
Capital Contributions as of Dec. 31, 2008
Market Value at Dec. 31, 2007
2008 Contributions
2008 Investment Loss
2008 Expenditures & Transfers
Market Value at Dec. 31, 2008
I. Funds that Support the NAS
A. General Fund
Agassiz Fund
$50
$640
$-
$(201)
$(28)
$411
Carnegie Fund
3,275
44,297
-
(13,933)
(1,913)
28,451
Commonwealth Fund
500
2,874
-
(904)
(123)
1,847
Carl Eckart Fund
1,246
2,928
-
(921)
(127)
1,880
Ford Foundation Fund
5,000
28,257
-
(8,892)
(1,209)
18,156
Henrietta and Alexander Hollaender Fund
500
1,262
-
(397)
(54)
811
Grayce B.Kerr Fund
250
627
-
(197)
(27)
403
Nealley Fund
19
254
-
(80)
(11)
163
Simon Ramo Fund
14
43
-
(13)
(2)
28
Rockefeller Foundation Fund
1,000
5,730
-
(1,803)
(245)
3,682
Dorothea and Herbert Simon Fund
645
1,312
-
(413)
(56)
843
Sloan Foundation Fund
1,000
5,711
-
(1,797)
(245)
3,669
Amy Prudden Turner Fund
30
145
-
(45)
(6)
94
Anonymous Endowment Fund
7,147
18,357
-
(5,776)
(784)
11,797
General Endowment Fund
3,606
10,483
-
(3,443)
(375)
6,665
Members Endowment Fund
2,717
6,584
69
(1,950)
(344)
4,359
$26,999
$129,504
$69
$(40,765)
$(5,549)
$83,259
B. Woods Hole
Peter C.Cornell Trust Fund
$100
$308
$-
$(98)
$(13)
$197
J.Erik Jonsson Woods Hole Fund
2,002
5,339
-
(1,695)
(229)
3,415
Richard King Mellon Foundation Fund
50
226
-
(72)
(10)
144
Penzance Foundation Fund
503
1,342
-
(427)
(57)
858
Woods Hole Endowment Fund
971
1,543
-
(490)
(66)
987
Woods Hole Fund
13
47
-
(14)
(2)
31
$3,639
$8,805
$-
$(2,796)
$(377)
$5,632
C. Presidents’ Committee Funds
Basic Science Fund—Earth Sciences
$503
$1,498
$-
$(484)
$(1)
$1,013
Biology and Biotechnology Fund
420
993
-
(316)
(16)
661
Thomas Lincoln Casey Fund
258
7,415
-
(2,353)
(226)
4,836
Coca-Cola Foundation Fund
50
160
-
(52)
-
108
Arthur L.Day Fund
5,048
20,532
-
(6,413)
(940)
13,179
Cecil and Ida Green Fund
467
1,764
-
(568)
(13)
1,183
W.K.Kellogg Foundation Fund
20,000
51,504
-
(16,317)
(1,570)
33,617
Kobelt Fund
297
2,320
-
(735)
(58)
1,527
Andrew W.Mellon Foundation Fund
1,000
2,049
-
(647)
(154)
1,248
George and Cynthia Mitchell Endowment for Sustainability Sciences
14,000
17,427
2,000
(6,025)
(470)
12,932
George and Cynthia Mitchell Matching Endowment
40
70
1
(23)
-
48
Frank Press Fund for Dissemination and Outreach
1,167
2,773
-
(855)
(180)
1,738
Scientists and Engineers for the Future Fund
1,000
2,007
-
(636)
(54)
1,317
$44,250
$110,512
$2,001
$(35,424)
$(3,682)
$73,407
OCR for page 17
Report of the Treasurer of the National Academy of Sciences
(Dollars in thousands)
Capital Contributions as of Dec. 31, 2008
Market Value at Dec. 31, 2007
2008 Contributions
2008 Investment Loss
2008 Expenditures & Transfers
Market Value at Dec. 31, 2008
D. Program Specific Funds
Arnold and Mabel Beckman Fund of the NAS and NAE
$11,952
$11,299
$274
$(3,261)
$(1,957)
$6,355
Billings Fund
50
1,015
-
(328)
-
687
Blakeslee Fund
887
2,910
-
(901)
(131)
1,878
Henry G.Booker Fellowship Fund
21
66
-
(21)
(2)
43
Communications Initiative Fund
-
4,163
-
(1,355)
(200)
2,608
Cultural Programs of the NAS Fund
19
29
5
(11)
-
23
Henry and Bryna David Endowment
850
1,540
-
(492)
(19)
1,029
Global Commons Project Fund
39
181
-
(59)
-
122
Marian Koshland Science Museum Fund
22,786
28,354
-
(8,770)
(1,793)
17,791
Bruce Alberts Fund for the Marian Koshland Science Museum
5,195
7,329
-
(2,340)
(137)
4,852
National Science Resources Center Fund
4,987
6,490
-
(2,099)
(3)
4,388
New Canaan Library Fund
4
12
-
(4)
-
8
Kumar and Shela Patel Endowment for US-India Dialogs
600
988
-
(309)
(39)
640
Arthur M.Sackler Colloquia Fund
4,375
6,417
625
(2,012)
(301)
4,729
Raymond & Beverly Sackler USA-UK Scientific Forum Endowment
2,025
-
2,025
(566)
-
1,459
USNC/IAU
100
195
-
(63)
-
132
NAS Members Endowment(s)
59
311
-
(100)
-
211
$53,949
$71,299
$2,929
$(22,691)
$(4,582)
$46,955
E. Prizes and Awards
American Psychological Association Science Directorate Fund
$30
$78
$-
$(25)
$(1)
$52
Henryk Arctowski Fund
96
3,854
-
(1,237)
(87)
2,530
Bache Fund
60
454
-
(147)
-
307
Blaauw Fund
71
982
-
(317)
-
665
John J.Carty Fund
25
898
-
(281)
(32)
585
Comstock Fund
11
922
-
(298)
(2)
622
Draper Fund
6
392
-
(127)
(1)
264
Elliot Fund
8
217
-
(64)
(20)
133
Estes Award in Social and Behavioral Sciences
80
315
-
(102)
-
213
Gibbs Brothers Fund
24
350
-
(112)
(5)
233
Gibbs Fund
5
142
-
(46)
-
96
Ralph E.Gomory Award for the Application of Science
179
604
-
(185)
(34)
385
Gould Fund
50
814
-
(263)
-
551
Joseph Henry Fund
40
531
-
(171)
(1)
359
Alexander Hollaender Award in Biophysics
100
369
-
(119)
(1)
249
Hunsaker Fund
25
485
-
(157)
-
328
Franklin Livingston Hunt Fund
11
260
-
(84)
-
176
Kovalenko Fund
64
1,570
-
(507)
(1)
1,062
Marsh Fund
10
232
-
(75)
-
157
OCR for page 18
Report of the Treasurer of the National Academy of Sciences
(Dollars in thousands)
Capital Contributions as of Dec. 31, 2008
Market Value at Dec. 31, 2007
2008 Contributions
2008 Investment Loss
2008 Expenditures & Transfers
Market Value at Dec. 31, 2008
George P.Merrill Fund
$10
$737
$-
$(238)
$(1)
$498
Stanley Miller Award
155
-
155
(45)
-
110
Monsanto Award in Molecular Biology
421
1,297
-
(409)
(35)
853
Murray Fund
6
203
-
(66)
-
137
NAS Award for Chemistry in Service to Society
182
452
-
(147)
(1)
304
NAS Award in Mathematics
54
79
-
(23)
(8)
48
NAS Award in Chemical Sciences
478
652
-
(205)
(21)
426
NAS Award in Neuroscience
140
560
-
(181)
-
379
NAS Fund for Sciences and Technology in International Affairs
49
280
-
(90)
-
190
Pradel Fund
16
1,879
-
(607)
(1)
1,271
H.P.Robertson Lectureship Fund
20
324
-
(105)
-
219
Helen P.Smith Fund
67
738
-
(238)
(3)
497
Mrs. J.Lawrence Smith Fund
8
806
-
(262)
-
544
Thompson Fund
10
299
-
(97)
(1)
201
Troland Fund
505
5,100
-
(1,614)
(116)
3,370
Walcott Fund
5
93
-
(30)
-
63
G.K.Warren Fund
15
221
-
(71)
-
150
Watson Fund
25
1,579
-
(506)
(14)
1,059
$3,061
$28,768
$155
$(9,251)
$(386)
$19,286
F. Reserve Funds
National Academy of Sciences Reserve Fund
$4,090
$3,324
$914
$(1,318)
$(96)
$2,824
Proceedings of the National Academy of Sciences Fund
1,000
1,169
-
(341)
(1)
827
Transportation Research Board Reserve Fund
1,500
2,486
-
(803)
(1)
1,682
Due to (from) National Academy of Sciences
-
(17)
-
-
(393)
(410)
$6,590
$6,962
$914
$(2,462)
$(491)
$4,923
Subtotal—Funds that Support the NAS
$138,488
$355,850
$6,068
$(113,389)
$(15,067)
$233,462
II. Funds that Support the IOM
A. General Funds
General Endowment Fund
$1,113
$2,243
$-
$(700)
$(114)
$1,429
Robert Wood Johnson Foundation Fund
5,000
13,239
-
(4,128)
(687)
8,424
IOM Kellogg Fund
283
569
-
(184)
-
385
IOM Members Dues
198
398
-
(128)
(1)
269
Henry J.Kaiser Family Foundation Fund
488
1,033
-
(322)
(54)
657
John D. and Catherine T.MacArthur Foundation Fund
5,000
13,166
-
(4,127)
(667)
8,372
Pharmaceutical Discretionary Fund
480
1,016
-
(328)
(1)
687
Pharmaceutical Endowment Fund
259
626
-
(195)
(32)
399
Miscellaneous Private Sector Fund
26
74
-
(23)
(4)
47
$12,847
$32,364
$-
$(10,135)
$(1,560)
$20,669
OCR for page 19
Report of the Treasurer of the National Academy of Sciences
(Dollars in thousands)
Capital Contributions as of Dec. 31, 2008
Market Value at Dec. 31, 2007
2008 Contributions
2008 Investment Loss
2008 Expenditures & Transfers
Market Value at Dec. 31, 2008
B. Program Specific Funds
Distinguished Scholar Fund
$16
$76
$-
$(24)
$-
$52
Food & Nutrition Board (FNB) Fund
525
1,669
-
(539)
(1)
1,129
FNB Corporations Fund
125
482
-
(156)
-
326
FNB Members Fund
5
27
-
(9)
-
18
Norman Gant & ABOG Fellowship
650
-
650
(17)
-
633
Hamburg Endowment Fund
988
1,351
19
(441)
(1)
928
Howard Hughes Medical Institute Fund
5,000
16,657
-
(5,381)
(8)
11,268
Kellogg Health of the Public Fund
4,461
5,766
693
(2,039)
(186)
4,234
Kellogg Health of the Public Fund Matching Contributions
2,279
2,748
87
(868)
(21)
1,946
Richard and Hinda Rosenthal Lecture Series
1,000
1,691
-
(540)
(24)
$1,127
Women’s Health Issues Fund
20
89
-
(29)
-
60
$15,069
$30,556
$1,449
$(10,043)
$(241)
$21,721
C. Prizes and Awards
Gustav O.Lienhard Award
$1,200
$4,804
$-
$(1,534)
$(62)
$3,208
Rhonda and Bernard G.Sarnat International Prize in Mental Health
1,009
1,688
-
(539)
(37)
1,112
$2,209
$6,492
$-
$(2,073)
$(99)
$4,320
D. Reserve Funds
IOM Reserve Fund
$500
$979
$-
$(316)
$-
$663
Subtotal—Funds that Support the IOM
$30,625
$70,391
$1,449
$(22,567)
$(1,900)
$47,373
Subtotal—NAS and IOM Funds
$169,113
$426,241
$7,517
$(135,956)
$(16,967)
$280,835
III. Funds Held on Behalf of Others
A. The National Academies’ Corporation
Operations Endowment
$8,000
$9,027
$-
$(2,613)
$(1,049)
$5,365
Program Endowment
1,940
2,196
-
(648)
(260)
1,288
Building Maintenance Reserve
-
581
-
(263)
216
534
$9,940
$11,804
$-
$(3,524)
$(1,093)
$7,187
TOTAL
$179,053
$438,045
$7,517
$(139,480)
$(18,060)
$288,022
OCR for page 20
Report of the Treasurer of the National Academy of Sciences
Endowment, Trust, and Other Long-term Investments Pool—Asset Allocation as of December 31, 2008
OCR for page 21
Report of the Treasurer of the National Academy of Sciences
Endowment, Trust, and Other Long-term Investments Pool—Change in Valuation and Market Value Summary
Change in Valuation from 12/31/07 to 12/31/08 (Dollars in Thousands)
Market Value at 12/31/07
$438,045
Realized Capital Losses
(4,653)
Unrealized Capital Losses
(152,807)
Reinvested Income
17,980
Contributions
7,517
Expenditures and Transfers
(18,060)
Market Value at 12/31/08
$288,022
Holdings and Market Value Summary as of 12/31/08 (Dollars in Thousands)
U.S. Large Cap Equities
Berkshire Hathaway A
$31,105
Berkshire Hathaway B
29
Powershares Water Resources
1,151
Vanguard Index 500
10,389
Vanguard Precious Metals
1,176
Materials Select Sector SPDR
1,183
Subtotal
$45,033
U.S. Small—Mid Cap Equities
Tamarack Enterprise
$1,797
Third Avenue Value
4,589
Vanguard Extended
2,788
Vanguard Small
2,277
Subtotal
$11,451
Non-U.S. Developed Equities
Dodge & Cox International
$5,841
Driehaus Int’l Discovery
6,563
Templeton Foreign
15,709
Vanguard European
9,487
Vanguard Pacific
6,987
Vanguard Int’l Growth
6,506
Vanguard Int’l Value
7,378
Subtotal
$58,471
Real Estate Equities
iShares Dow Jones RE Index
$3,903
Third Avenue RE Fund
3,604
Subtotal
$7,507
Non-U.S. Emerging Equities
Capital International
$13,408
Templeton Emerging
10,155
Morgan Stanley India
1,406
Subtotal
$24,969
U.S. Fixed Income
PIMCO Funds Total Return
$16,760
Cash Equivalents
13,479
Other
312
Subtotal
$30,551
Non-U.S. Fixed Income
PIMCO Foreign Bond
$26,738
PIMCO Developing
6,335
Subtotal
$33,073
Hedge Funds
GT Offshore
$8,468
Goldman Sachs Princeton
21,572
Renaissance Institutional Equities
15,313
Renaissance Institutional Futures
19,930
Subtotal
$65,283
Other Alternative Investments
$11,684
GRAND TOTAL
$288,022
OCR for page 22
Report of the Treasurer of the National Academy of Sciences
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