Endowment and Trust Investment Funds – Description of Funds for the Year Ended December 31, 2006
Capital Contribution (Column 1 of Schedule 1–A)
I.
ENDOWMENT
A.
Unrestricted
1.
NAS Unrestricted Endowment
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. |
|
3,542,095 |
Members Endowment Fund – Contributions from various members to be used for the general purposes of the Academy. |
|
2,642,363 |
Subtotal: NAS Unrestricted Endowment |
$ |
26,860,318 |
2.
IOM Unrestricted Endowment
General Endowment Fund – Contributions from various sources, including members of the Institute of Medicine, for capital endowment of the Institute of Medicine. |
$ |
1,110,589 |
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 |
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: IOM Unrestricted Endowment |
$ |
12,844,868 |
B.
Restricted for Specific Purpose
1.
Program
a.
NAS Restricted Program
Arts in the Academy Fund – Contributions from various sources for sponsoring free cultural programs of merit for local residents and for providing a platform for musicians and artists. |
$ |
3,934 |
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 findings of the results. |
|
420,232 |
Blakeslee Fund – Bequest of Albert Francis Blakeslee, the income from which is to be used in support of genetics research. |
|
886,902 |
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 |
Henry and Bryna David Endowment – A bequest of Henry and Bryna David 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 |
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 |
Global Commons Project Fund |
|
39,058 |
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. |
|
10,000,000 |
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. |
|
35,150 |
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 dialogue through various Academy activities. |
|
600,000 |
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 |
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. |
|
3,750,000 |
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 |
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. |
|
60,966 |
Subtotal: NAS Restricted Program |
$ |
46,440,504 |
b.
IOM Restricted Program
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 |
Consequences of Uninsurance |
|
6,795 |
Dissemination Activities |
|
84,695 |
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. |
|
525,100 |
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. |
|
4,800 |
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. |
|
863,375 |
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 |
Improving Health Policy Communication |
|
16,775 |
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. |
|
3,234,002 |
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. |
|
1,726,706 |
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: IOM Restricted Program |
$ |
12,623,798 |
2.
Prizes and Awards
a.
NAS 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 Bell System associates, 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 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. |
|
5,173 |
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 |
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. |
|
61,821 |
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 |
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, former 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 |
Helen P. Smith Fund – A bequest of Helen P. Smith in memory of her husband, Gilbert Morgan Smith, to establish a triannual 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, for the award of medals and honoraria to persons, the results of whose published research, explorations, and discoveries of pre–Cambrian or Cambrian life and history shall be judged most meritorious; the award is to be known as the Charles Doolittle Walcott Medal. |
|
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 former 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: NAS Prizes and Awards |
$ |
2,903,873 |
b.
IOM 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: IOM Prizes and Awards |
$ |
2,209,179 |
3.
Woods Hole Restricted Endowment
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 |
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 |
Woods Hole Fund – Contributions from various individuals for maintenance of the Woods Hole Study Center. |
|
12,874 |
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 |
Subtotal: Woods Hole Restricted Endowment |
$ |
3,639,274 |
4.
PNAS Restricted Endowment
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 |
II.
FUNDS FUNCTIONING AS ENDOWMENT
A.
Unrestricted 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. |
$ |
3,176,075 |
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 |
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: Funds Functioning as Endowment, Unrestricted |
$ |
5,176,075 |
B.
Restricted for a Specific Purpose
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 |
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 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 traveling 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. 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. |
|
4,479,344 |
Proceedings of the National Academy of Sciences Fund |
|
1,000,000 |
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 |
Subtotal: Funds Functioning as Endowment, Restricted for a Specific Purpose |
$ |
33,581,322 |
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 |
TNAC Reserve for Program Expenditures – Unexpended income from the TNAC operations endowment as well as earnings from the TNAC program endowment are deposited into the Reserve for future spending. The Reserve supports NRC program activity held whole or in part at the Beckman Center. The Reserve is held on behalf of TNAC and invested by the NAS. |
|
3,767,675 |
Subtotal: TNAC Endowment |
$ |
13,707,319 |
TOTAL |
$160,036,632 |
Endowment and Trust Investment Funds - Financial Detail of Funds for the Year Ended December 31, 2006
|
(Dollars in thousands) ENDOWMENT AND TRUST INVESTMENT POOL |
|||||||||||||||
Capital Contributions as of Dec. 31, 2006 |
Market Value at Dec. 31, 2005 |
2006 Contributions |
2006 Investment Income |
2006 Expenditures & Transfers |
Market Value at Dec. 31, 2006 |
|||||||||||
I. Endowment |
||||||||||||||||
|
A. Unrestricted |
|||||||||||||||
|
|
1. NAS |
||||||||||||||
|
|
|
Agassiz Fund |
$ |
50 |
$ |
530 |
$ |
- |
$ |
97 |
$ |
(25) |
$ |
602 |
|
|
|
|
Carnegie Fund |
|
3,275 |
|
36,616 |
|
- |
|
6,712 |
|
(1,661) |
|
41,667 |
|
|
|
|
Commonwealth Fund |
|
500 |
|
2,365 |
|
- |
|
434 |
|
(99) |
|
2,700 |
|
|
|
|
Carl Eckart Fund |
|
1,246 |
|
2,423 |
|
- |
|
444 |
|
(113) |
|
2,754 |
|
|
|
|
Ford Foundation Fund |
|
5,000 |
|
23,271 |
|
- |
|
4,273 |
|
(992) |
|
26,552 |
|
|
|
|
Henrietta and Alexander Hollaender Fund |
|
500 |
|
1,038 |
|
- |
|
191 |
|
(43) |
|
1,186 |
|
|
|
|
Grayce B. Kerr Fund |
|
250 |
|
515 |
|
- |
|
95 |
|
(21) |
|
589 |
|
|
|
|
Nealley Fund |
|
20 |
|
210 |
|
- |
|
39 |
|
(10) |
|
239 |
|
|
|
|
Simon Ramo Fund |
|
14 |
|
35 |
|
- |
|
6 |
|
(1) |
|
40 |
|
|
|
|
Rockefeller Foundation Fund |
|
1,000 |
|
4,722 |
|
- |
|
867 |
|
(204) |
|
5,385 |
|
|
|
|
Dorothea and Herbert Simon Fund |
|
645 |
|
1,080 |
|
- |
|
198 |
|
(45) |
|
1,233 |
|
|
|
|
Sloan Foundation Fund |
|
1,000 |
|
4,707 |
|
- |
|
864 |
|
(203) |
|
5,368 |
|
|
|
|
Amy Prudden Turner Fund |
|
30 |
|
120 |
|
- |
|
22 |
|
(6) |
|
136 |
|
|
|
|
Anonymous Endowment Fund |
|
7,146 |
|
15,110 |
|
- |
|
2,776 |
|
(639) |
|
17,247 |
|
|
|
|
General Endowment Fund |
|
3,542 |
|
8,572 |
|
390 |
|
1,612 |
|
(371) |
|
10,203 |
|
|
|
|
Members Endowment Fund |
|
2,642 |
|
5,033 |
|
6 |
|
925 |
|
(210) |
|
5,754 |
|
|
|
|
|
|
$ |
26,860 |
$ |
106,347 |
$ |
396 |
$ |
19,555 |
$ |
(4,643) |
$ |
121,655 |
|
|
2. IOM |
||||||||||||||
|
|
|
General Endowment Fund |
$ |
1,111 |
$ |
1,860 |
$ |
3 |
$ |
338 |
$ |
(127) |
|
2,074 |
|
|
|
|
Robert Wood Johnson Foundation Fund |
|
5,000 |
|
11,058 |
|
- |
|
2,091 |
|
(881) |
|
12,268 |
|
|
|
|
IOM Kellogg Fund |
|
283 |
|
431 |
|
- |
|
82 |
|
- |
|
513 |
|
|
|
|
IOM Members Dues |
|
198 |
|
301 |
|
- |
|
57 |
|
- |
|
358 |
|
|
|
|
Henry J. Kaiser Family Foundation Fund |
|
488 |
|
870 |
|
- |
|
157 |
|
(70) |
|
957 |
|
|
|
|
John D. and Catherine T. MacArthur Foundation Fund |
|
5,000 |
|
11,076 |
|
- |
|
1,996 |
|
(874) |
|
12,198 |
|
|
|
|
Pharmaceutical Discretionary Fund |
|
480 |
|
734 |
|
- |
|
182 |
|
- |
|
916 |
|
|
|
|
Pharmaceutical Endowment Fund |
|
259 |
|
522 |
|
- |
|
99 |
|
(41) |
|
580 |
|
|
|
|
Miscellaneous Private Sector Fund |
|
26 |
|
65 |
|
- |
|
8 |
|
(5) |
|
68 |
|
|
|
|
|
|
$ |
12,845 |
$ |
26,917 |
$ |
3 |
$ |
5,010 |
$ |
(1,998) |
$ |
29,932 |
|
B. Restricted for Specific Purpose |
|||||||||||||||
|
|
1. Program |
||||||||||||||
|
|
|
a. NAS |
|||||||||||||
|
|
|
Arts in the Academy Fund |
$ |
4 |
$ |
15 |
$ |
- |
$ |
3 |
$ |
(1) |
$ |
17 |
|
|
|
|
|
Basic Science Fund - Earth Sciences |
|
503 |
|
1,138 |
|
- |
|
210 |
|
(35) |
|
1,313 |
|
|
|
|
Biology and Biotechnology Fund |
|
420 |
|
824 |
|
- |
|
109 |
|
(27) |
|
906 |
|
|
|
|
Blakeslee Fund |
|
887 |
|
2,407 |
|
- |
|
439 |
|
(106) |
|
2,740 |
|
|
|
|
Thomas Lincoln Casey Fund |
|
258 |
|
5,869 |
|
- |
|
1,078 |
|
(201) |
|
6,746 |
|
|
|
|
Coca-Cola Foundation Fund |
|
50 |
|
104 |
|
- |
|
20 |
|
- |
|
124 |
|
|
|
|
Henry and Bryna David Endowment |
|
850 |
|
1,201 |
|
- |
|
227 |
|
(10) |
|
1,418 |
|
|
|
Arthur L. Day Fund |
|
5,048 |
|
16,382 |
|
- |
|
2,984 |
|
(741) |
|
18,625 |
|
(Dollars in thousands) ENDOWMENT AND TRUST INVESTMENT POOL |
|||||||||||||||
Capital Contributions as of Dec. 31, 2006 |
Market Value at Dec. 31, 2005 |
2006 Contributions |
2006 Investment Income |
2006 Expenditures & Transfers |
Market Value at Dec. 31, 2006 |
|||||||||||
|
|
|
|
Cecil and Ida Green Fund |
|
468 |
|
1,388 |
|
- |
|
256 |
|
(45) |
|
1,599 |
|
|
|
|
Global Commons Project Fund |
|
39 |
|
137 |
|
- |
|
26 |
|
- |
|
163 |
|
|
|
|
W. K. Kellogg Foundation Fund |
|
20,000 |
|
39,371 |
|
- |
|
7,424 |
|
(307) |
|
46,488 |
|
|
|
|
Kobelt Fund |
|
297 |
|
1,814 |
|
- |
|
336 |
|
(50) |
|
2,100 |
|
|
|
|
Andrew W. Mellon Foundation Fund |
|
1,000 |
|
1,578 |
|
- |
|
299 |
|
- |
|
1,877 |
|
|
|
|
George and Cynthia Mitchell Endowment for Sustainability Sciences |
|
10,000 |
|
10,138 |
|
2,000 |
|
2,113 |
|
(240) |
|
14,011 |
|
|
|
|
George and Cynthia Mitchell Matching Endowment |
|
35 |
|
44 |
|
- |
|
16 |
|
- |
|
60 |
|
|
|
|
New Canaan Library Fund |
|
4 |
|
9 |
|
- |
|
2 |
|
- |
|
11 |
|
|
|
|
Kumar and Shela Patel Endowment for US-India Dialogs |
|
600 |
|
775 |
|
- |
|
146 |
|
(19) |
|
902 |
|
|
|
|
Frank Press Fund for Dissemination and Outreach |
|
1,167 |
|
2,168 |
|
- |
|
410 |
|
- |
|
2,578 |
|
|
|
|
Arthur M. Sackler Colloquia Fund |
|
3,750 |
|
4,865 |
|
- |
|
920 |
|
(2) |
|
5,783 |
|
|
|
|
Scientists and Engineers for the Future Fund |
|
1,000 |
|
1,583 |
|
- |
|
288 |
|
(69) |
|
1,802 |
|
|
|
|
NAS Members Endowment(s) |
|
61 |
|
233 |
|
- |
|
45 |
|
3 |
|
281 |
|
|
|
|
|
$ |
46,441 |
$ |
92,043 |
$ |
2,000 |
$ |
17,351 |
$ |
(1,850) |
$ |
109,544 |
|
|
|
b. IOM |
|||||||||||||
|
|
|
|
Distinguished Scholar Fund |
$ |
17 |
$ |
58 |
$ |
- |
$ |
11 |
$ |
- |
$ |
69 |
|
|
|
|
Consequences of Uninsurance |
|
7 |
|
9 |
|
- |
|
1 |
|
(10) |
|
- |
|
|
|
|
Dissemination Activities |
|
84 |
|
122 |
|
- |
|
7 |
|
(129) |
|
- |
|
|
|
|
Food & Nutrition Board (FNB) Fund |
|
525 |
|
1,361 |
|
- |
|
258 |
|
- |
|
1,619 |
|
|
|
|
FNB Corporations Fund |
|
125 |
|
366 |
|
- |
|
69 |
|
- |
|
435 |
|
|
|
|
FNB Members Fund |
|
5 |
|
20 |
|
- |
|
4 |
|
- |
|
24 |
|
|
|
|
Hamburg Endowment Fund |
|
863 |
|
659 |
|
308 |
|
154 |
|
- |
|
1,121 |
|
|
|
|
Howard Hughes Medical Institute Fund |
|
5,000 |
|
13,672 |
|
- |
|
2,465 |
|
(165) |
|
15,972 |
|
|
|
|
Improving Health Policy Communication |
|
17 |
|
22 |
|
- |
|
1 |
|
(23) |
|
- |
|
|
|
|
Kellogg Health of the Public Fund |
|
3,234 |
|
3,654 |
|
468 |
|
731 |
|
(146) |
|
4,707 |
|
|
|
|
Kellogg Health of the Public Fund Matching Contributions |
|
1,727 |
|
1,061 |
|
760 |
|
255 |
|
(6) |
|
2,070 |
|
|
|
|
Richard and Hinda Rosenthal Lecture Series |
|
1,000 |
|
1,320 |
|
- |
|
247 |
|
(31) |
|
1,536 |
|
|
|
|
Women’s Health Issues Fund |
|
20 |
|
67 |
|
- |
|
13 |
|
- |
|
80 |
|
|
|
|
|
$ |
12,624 |
$ |
22,391 |
$ |
1,536 |
$ |
4,216 |
$ |
(510) |
$ |
27,633 |
|
|
2. Prizes and Awards |
||||||||||||||
|
|
|
a. NAS |
|||||||||||||
|
|
|
|
American Psychological Association Science Directorate Fund |
$ |
30 |
$ |
64 |
$ |
- |
$ |
12 |
$ |
(6) |
$ |
70 |
|
|
|
|
Henryk Arctowski Fund |
|
96 |
|
2,925 |
|
- |
|
553 |
|
(3) |
|
3,475 |
|
|
|
|
Bache Fund |
|
60 |
|
376 |
|
- |
|
71 |
|
(19) |
|
428 |
|
(Dollars in thousands) ENDOWMENT AND TRUST INVESTMENT POOL |
|||||||||||||||||
Capital Contributions as of Dec. 31, 2006 |
Market Value at Dec. 31, 2005 |
2006 Contributions |
2006 Investment Income |
2006 Expenditures & Transfers |
Market Value at Dec. 31, 2006 |
|||||||||||||
|
|
|
|
Blaauw Fund |
|
71 |
|
811 |
|
- |
|
152 |
|
(38) |
|
925 |
||
|
|
|
|
John J. Carty Fund |
|
25 |
|
738 |
|
- |
|
135 |
|
(37) |
|
836 |
||
|
|
|
|
Comstock Fund |
|
11 |
|
699 |
|
- |
|
132 |
|
- |
|
831 |
||
|
|
|
|
Draper Fund |
|
6 |
|
300 |
|
- |
|
56 |
|
(3) |
|
353 |
||
|
|
|
|
Elliot Fund |
|
8 |
|
165 |
|
- |
|
31 |
|
- |
|
196 |
||
|
|
|
|
Estes Award in Social and Behavioral Sciences |
|
80 |
|
263 |
|
- |
|
- 47 |
|
(26) |
|
284 |
||
|
|
|
|
Gibbs Brothers Fund |
|
24 |
|
265 |
|
- |
|
50 |
|
- |
|
315 |
||
|
|
|
|
Gibbs Fund |
|
5 |
|
145 |
|
- |
|
23 |
|
(34) |
|
134 |
||
|
|
|
|
Ralph E. Gomory Award for the Application of Science |
|
179 |
|
462 |
|
- |
|
87 |
|
(2) |
|
547 |
||
|
|
|
|
Gould Fund |
|
50 |
|
674 |
|
- |
|
126 |
|
(33) |
|
767 |
||
|
|
|
|
Joseph Henry Fund |
|
40 |
|
439 |
|
- |
|
83 |
|
(22) |
|
500 |
||
|
|
|
|
Alexander Hollaender Award in Biophysics |
|
100 |
|
298 |
|
- |
|
57 |
|
- |
|
355 |
||
|
|
|
|
Hunsaker Fund |
|
25 |
|
370 |
|
- |
|
70 |
|
(2) |
|
438 |
||
|
|
|
|
Franklin Livingston Hunt Fund |
|
11 |
|
197 |
|
- |
|
38 |
|
- |
|
235 |
||
|
|
|
|
Kovalenko Fund |
|
62 |
|
1,213 |
|
1 |
|
229 |
|
(1) |
|
1,442 |
||
|
|
|
|
Marsh Fund |
|
10 |
|
192 |
|
- |
|
36 |
|
(9) |
|
219 |
||
|
|
|
|
George P. Merrill Fund |
|
10 |
|
601 |
|
- |
|
113 |
|
(21) |
|
693 |
||
|
|
|
|
Monsanto Award in Molecular Biology |
|
421 |
|
1,044 |
|
- |
|
192 |
|
(39) |
|
1,197 |
||
|
|
|
|
Murray Fund |
|
6 |
|
169 |
|
- |
|
32 |
|
- |
|
201 |
||
|
|
|
|
NAS Award for Chemistry in Service to Society |
|
182 |
|
365 |
|
- |
|
69 |
|
(5) |
|
429 |
||
|
|
|
|
NAS Award in Mathematics |
|
54 |
|
60 |
|
- |
|
11 |
|
- |
|
71 |
||
|
|
|
|
NAS Award in Chemical Sciences |
|
478 |
|
529 |
|
- |
|
97 |
|
(21) |
|
605 |
||
|
|
|
|
NAS Award in Neurosciences |
|
140 |
|
448 |
|
- |
|
85 |
|
(1) |
|
532 |
||
|
|
|
|
NAS Fund for Sciences and Technology in International Affairs |
|
49 |
|
217 |
|
- |
|
40 |
|
(4) |
|
253 |
||
|
|
|
|
Pradel Fund |
|
16 |
|
1,425 |
|
- |
|
269 |
|
- |
|
1,694 |
||
|
|
|
|
H. P. Robertson Lectureship Fund |
|
20 |
|
248 |
|
- |
|
46 |
|
(2) |
|
292 |
||
|
|
|
|
Helen P. Smith Fund |
|
67 |
|
585 |
|
- |
|
107 |
|
(27) |
|
665 |
||
|
|
|
|
Mrs. J. Lawrence Smith Fund |
|
8 |
|
640 |
|
- |
|
117 |
|
(31) |
|
726 |
||
|
|
|
|
Thompson Fund |
|
10 |
|
246 |
|
- |
|
44 |
|
(20) |
|
270 |
||
|
|
|
|
Troland Fund |
|
505 |
|
4,062 |
|
- |
|
753 |
|
(116) |
|
4,699 |
||
|
|
|
|
Walcott Fund |
|
5 |
|
81 |
|
- |
|
16 |
|
- |
|
97 |
||
|
|
|
|
G. K. Warren Fund |
|
15 |
|
182 |
|
- |
|
31 |
|
(14) |
|
199 |
||
|
|
|
|
Watson Fund |
|
25 |
|
1,231 |
|
- |
|
233 |
|
- |
|
1,464 |
||
|
|
|
|
|
$ |
2,904 |
$ |
22,729 |
$ |
1 |
$ |
4,243 |
$ |
(536) |
$ |
26,437 |
||
|
|
|
b. IOM |
|||||||||||||||
|
|
|
|
Gustav O. Lienhard Award |
$ |
1,200 |
$ |
3,740 |
$ |
- |
$ |
702 |
$ |
(34) |
$ |
4,408 |
||
|
|
|
|
Rhonda and Bernard G. Sarnat International Prize in Mental Health |
|
1,009 |
|
1,330 |
- |
|
249 |
|
(31) |
|
1,548 |
|||
|
|
|
|
|
$ |
2,209 |
$ |
5,070 |
$ |
- |
$ |
951 |
$ |
(65) |
$ |
5,956 |
|
(Dollars in thousands) ENDOWMENT AND TRUST INVESTMENT POOL |
|||||||||||||||
Capital Contributions as of Dec. 31, 2006 |
Market Value at Dec. 31, 2005 |
2006 Contributions |
2006 Investment Income |
2006 Expenditures & Transfers |
Market Value at Dec. 31, 2006 |
|||||||||||
|
|
3. Woods Hole |
||||||||||||||
|
|
|
Peter C. Cornell Trust Fund |
$ |
100 |
$ |
254 |
$ |
- |
$ |
47 |
$ |
(11) |
$ |
290 |
|
|
|
|
J. Erik Jonsson Woods Hole Fund |
|
2,002 |
|
4,395 |
|
- |
|
810 |
|
(189) |
|
5,016 |
|
|
|
|
Penzance Foundation Fund |
|
503 |
|
1,104 |
|
- |
|
203 |
|
(47) |
|
1,260 |
|
|
|
|
Woods Hole Endowment Fund |
|
971 |
|
1,271 |
|
- |
|
234 |
|
(54) |
|
1,451 |
|
|
|
|
Woods Hole Fund |
|
13 |
|
39 |
|
- |
|
7 |
|
(1) |
|
45 |
|
|
|
|
Richard King Mellon Foundation Fund |
|
50 |
|
186 |
|
- |
|
34 |
|
(8) |
|
212 |
|
|
|
|
|
|
$ |
3,639 |
$ |
7,249 |
$ |
- |
$ |
1,335 |
$ |
(310) |
$ |
8,274 |
|
|
4. PNAS |
||||||||||||||
|
|
|
Billings Fund |
$ |
50 |
$ |
770 |
$ |
- |
$ |
146 |
$ |
- |
$ |
916 |
|
|
|
|
|
|
$ |
50 |
$ |
770 |
$ |
- |
$ |
146 |
$ |
- |
$ |
916 |
II. Funds Functioning as Endowment |
||||||||||||||||
|
A. Unrestricted |
|||||||||||||||
|
|
National Academy of Sciences Reserve Fund |
$ |
3,176 |
$ |
2,977 |
$ |
- |
$ |
502 |
$ |
(438) |
$ |
3,041 |
||
|
|
IOM Reserve Fund |
|
500 |
|
742 |
|
- |
|
141 |
|
- |
|
883 |
||
|
|
TRB Reserve Fund |
|
1,500 |
|
1,885 |
|
- |
|
356 |
|
- |
|
2,241 |
||
|
|
Due to (from) National Academy of Sciences |
|
|
|
(144) |
|
|
|
|
|
444 |
|
300 |
||
|
|
|
|
|
$ |
5,176 |
$ |
5,460 |
$ |
- |
$ |
999 |
$ |
6 |
$ |
6,465 |
|
B. Restricted for a Specific Purpose |
|||||||||||||||
|
|
Henry G. Booker Fellowship Fund |
$ |
21 |
$ |
50 |
$ |
- |
$ |
10 |
$ |
- |
$ |
60 |
||
|
|
Marian Koshland Science Museum Fund |
|
22,786 |
|
25,015 |
|
- |
|
4,492 |
|
(2,085) |
|
27,422 |
||
|
|
Bruce Alberts Fund for the Marian Koshland Science Museum |
|
5,195 |
|
5,788 |
|
- |
|
1,088 |
|
(80) |
|
6,796 |
||
|
|
National Science Resources Center Fund |
|
4,479 |
|
4,812 |
|
500 |
|
978 |
|
(1) |
|
6,289 |
||
|
|
Proceedings of the National Academy of Sciences Fund |
|
1,000 |
|
4,188 |
|
- |
|
594 |
|
(3,729) |
|
1,053 |
||
|
|
Communications Initiative Fund |
|
- |
|
- |
|
|
|
198 |
|
3,729 |
|
3,927 |
||
|
|
USNC/IAU |
|
100 |
|
148 |
|
- |
|
28 |
|
- |
|
176 |
||
|
|
|
|
|
$ |
33,581 |
$ |
40,001 |
$ |
500 |
$ |
7,388 |
$ |
(2,166) |
$ |
45,723 |
III. Funds Held on Behalf of Others |
||||||||||||||||
|
A. The National Academies' Corporation |
|||||||||||||||
|
|
Endowment Fund |
$ |
- |
$ |
20,399 |
$ |
- |
$ |
1,194 |
$ |
(21,593) |
$ |
- |
||
|
|
Operations Endowment |
|
8,000 |
|
- |
|
- |
|
1,041 |
|
8,479 |
|
9,520 |
||
|
|
Program Endowment |
|
1,940 |
|
- |
|
- |
|
255 |
|
2,074 |
|
2,329 |
||
|
|
Capital Fund |
|
- |
|
2,185 |
|
- |
|
129 |
|
(2,314) |
|
- |
||
|
|
Reserve for Program Expense |
|
3,768 |
|
- |
|
- |
|
1,222 |
|
9,950 |
|
11,172 |
||
|
|
|
|
|
$ |
13,708 |
$ |
22,584 |
$ |
- |
$ |
3,841 |
$ |
(3,404) |
$ |
23,021 |
TOTAL |
$ |
160,037 |
$ |
351,561 |
$ |
4,436 |
$ |
65,035 |
$ |
(15,476) |
$ |
405,556 |
Endowment and Trust Investment Pool - Change in Valuation and Market Value Summary
Change in Valuation from 12/31/05 to 12/31/06
(Dollars in Thousands)
Market Value at 12/31/05 |
$ |
351,561 |
Realized Capital Gains |
|
10,446 |
Unrealized Capital Gains |
|
36,184 |
Reinvested Income |
|
18,405 |
Contributions |
|
4,436 |
Expenditures and Transfers |
|
(15,476) |
Market Value at 12/31/06 |
$ |
405,556 |
Holdings and Market Value Summary as of 12/31/06
U.S. Large Stocks
Berkshire Hathaway A |
$ |
25,518 |
Berkshire Hathaway B |
|
33 |
Biotech Index |
|
2,296 |
Vanguard Index 500 |
|
32,983 |
Vanguard Windsor |
|
32,224 |
Subtotal |
$ |
93,054 |
U.S. Small - Mid Stocks
Tamarack Enterprise |
$ |
10,752 |
Third Avenue Value |
|
13,655 |
Vanguard Extended |
|
11,765 |
Vanguard Small |
|
9,260 |
Subtotal |
$ |
45,432 |
Non - U.S. Developed
DWS International |
$ |
6,545 |
Templeton Foreign |
|
20,737 |
Vanguard European |
|
16,761 |
Vanguard Pacific |
|
10,592 |
Vanguard Intl. Growth |
|
11,743 |
Vanguard Intl. Value |
|
11,711 |
Subtotal |
$ |
78,089 |
Non - U.S. Emerging
Capital International |
$ |
19,482 |
Templeton Emerging |
|
15,793 |
Morgan Stanley India |
|
894 |
Subtotal |
$ |
36,169 |
Fixed Income
Morgan Stanley |
$ |
3,060 |
PIMCO Foreign Bond |
|
4,980 |
PIMCO FDS |
|
13,784 |
Price International |
|
2,961 |
DWS Global Bond |
|
2,540 |
Vanguard High Yield |
|
5,061 |
Other |
|
386 |
Subtotal |
$ |
32,772 |
Real Estate
Dow Jones RE Index |
$ |
8,737 |
Green Bldg Mortgages |
|
1,124 |
Third Avenue RE Fund |
|
7,865 |
Subtotal |
$ |
17,726 |
Hedge Funds
Commonfund |
$ |
11,430 |
GT Offshore |
|
8,575 |
Ironwood |
|
8,152 |
Princeton |
|
18,316 |
Renaissance |
|
22,724 |
Subtotal |
$ |
69,197 |
Private Placements |
$ |
13,598 |
Cash Equivalents |
$ |
19,519 |
GRAND TOTAL |
$ |
405,556 |