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2007 Treasurer Statement
Pages 1-23

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From page 1... ... on the recommendation of the Finance Committee, has adopted a spending limitation designed to maintain the Highlights of the year's Development efforts included: purchasing power of the endowment over time by reinvesting a portion of the annual total investment return. • The National Academies received 175 gifts and The spending limitation caps annual spending at 5 percent grants from foundations and corporations during of the three-year average market value of the participating 2007. Read the entire page →
From page 2... ... For 2007, a significant million for the Woods Hole Endowment Funds. portion of the returns for the year, both in absolute and TNAC, which is equally owned by the NAS and the relative terms, was due to the international markets, both National Academy of Engineering Fund (NAEF) Read the entire page →
From page 3... ... Home Secretary oversees the nomination process that Revenue: Unrestricted Endowment $ 5,079 selects award recipients and recommends to the Council Woods Hole Endowment 343 (subject to legal and financial review) changes in the Communications Endowment 175 award cycle, amounts of the honoraria, and any other Annual Giving from Members 284 administrative changes. Read the entire page →
From page 4... ... Erik Jonsson Center of the National Academies at 314 Quisset Dr. in Woods Hole, Massachusetts. Read the entire page →
From page 5... ... Historically, NRC management has In the past ten years, the basic core of NRC programs, successfully maintained a relatively steady relationship which is represented by the government contracts and between program and support costs, i.e., the growth rate grants, has experienced relatively small percentage of indirect costs was approximately equal to the growth changes from one year to the next. In 2007, the NRC rate of direct costs. Read the entire page →
From page 6... ... The investment return achieved in the NAS Endowment in 2007 continues to outperform the benchmark and helps to Overall Financial Condition provide additional financial support to NAS initiatives in the future. The results of operations, per the NAS Statements of Activities, are summarized as follows: I would like to thank the Council, the Committee on Budget and Internal Affairs, the Finance Committee, and (dollars in millions) Read the entire page →
From page 7... ... I. Investments 7 Read the entire page →
From page 8... ... 2,647,813 Subtotal: NAS Unrestricted Endowment $ 26,929,968 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. Read the entire page →
From page 9... ... 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. Read the entire page →
From page 10... ... 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. Read the entire page →
From page 11... ... 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. Read the entire page →
From page 12... ... 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. Read the entire page →
From page 13... ... 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 Read the entire page →
From page 14... ... 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. Read the entire page →
From page 15... ... $ 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. Read the entire page →
From page 16... ... 5,711 Amy Prudden Turner Fund 30 136 - 15 (6) 145 Anonymous Endowment Fund 7,147 17,247 - 1,849 (739) Read the entire page →
From page 17... ... 17,427 George and Cynthia Mitchell Matching Endowment 39 60 4 6 - 70 New Canaan Library Fund 4 11 - 1 - 12 Kumar and Shela Patel Endowment for US-India Dialogs 600 902 - 98 (12) 988 Frank Press Fund for Dissemination and Outreach 1,167 2,578 - 281 (86) Read the entire page →
From page 18... ... 814 Joseph Henry Fund 40 500 - 55 (24) 531 Alexander Hollaender Award in Biophysics 100 355 - 37 (23) Read the entire page →
From page 19... ... 5,339 Penzance Foundation Fund 503 1,260 - 136 (54) 1,342 Woods Hole Endowment Fund 971 1,451 - 156 (64) Read the entire page →
From page 20... ... Small-Mid Cap Equities 20.3% 4.6% Other Alternative Investments 3.1% Non-U.S. Stocks Developed Equities 24.9% Hedge Funds 14.9% Real Estate 3.1% Non-U.S. Read the entire page →
From page 21... ... Market Value at 12/31/07 $ 438,045 Holdings and Market Value Summary as of 12/31/07 U.S. Large Cap Equities U.S. Read the entire page →
From page 23... ... II. Private Contributions 23 Read the entire page →

From page 1...

... on the recommendation of the Finance Committee, has adopted a spending limitation designed to maintain the Highlights of the year's Development efforts included: purchasing power of the endowment over time by reinvesting a portion of the annual total investment return. • The National Academies received 175 gifts and The spending limitation caps annual spending at 5 percent grants from foundations and corporations during of the three-year average market value of the participating 2007.

2007 Treasurer Statement Pages 1-23

2007 Treasurer Statement
Pages 1-23