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Report of the Treasurer to the Council for the Year Ended December 31, 1999 (2000) / Chapter Skim
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Treasurer's Statement
Pages 1-6

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From page 1...
... The current recommendation, which was approved by the NAS Council in fiscal year 1993, limits annual expenditures to 5% of the Endowment and Trust Investment Funds, averaged over the preceding three years. Included in the total market value of the Endowment and Trust Investment Pool as of December 31, 1999, are the amounts of $45.6 million, $21.7 million, and $7.0 million for the IOM, TNAC, and Woods Hole Endowment Funds, respectively.
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From page 2...
... After formal unification of the NAS, NAE, and IOM development offices and the recruitment of our new chief advancement officer, Michael O' Mahoney, in late 1998, 1999 saw the office's staffing completed with the hiring of NAS, NAE, and IOM major gift officers and senior development officers in foundation relations, corporate relations, and development marketing. The office has energetically expanded its activities to gather both core and program support, with new efforts in member annual giving and planned giving, individual major gifts, and foundation and corporate support.
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From page 3...
... . The Management Review Committee periodically reviews NRC administrative and financial operations to ensure quality improvements.
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From page 4...
... S250,000 $200.000 $100,000 $50,000 $o .IIllUlUlUlI I I I ~ 1991 1992 1993 1994 1995 1996 1997 1998 1999T 1999 REFLECTS FISCAL YEAR TOTALS THROUGH 1999 Government Contracts and Grants = Nongovernment Funded Activities 121 Publications Activities ~ Administrative and Other Specific figures for 1999 and FY99T as shown graphically above Government Contracts and Grants Nongovernment Funded Activities Total direct program expense Publication Activities ($ in thousands) 1999 FY99T Total Administrative and Other 658,314 526,211 44,621 4,521,263 1,820,189 $160,166,534 $ 26,779,232 5,589,176 $ 32,368,408 As shown in Figure 2, the total direct program expense for the NAS, NRC, and IOM for the year ended December 31, 1999, from government and private funds amounted to $148.2 million.
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From page 5...
... The financial activity and results of the National Academy of Engineering, the National Academy of Engineering Fund, and the National Academies' Corporation (Beckman Center) are audited and reported separately.
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Key Terms

  • market value
  • indirect cost
  • beckman center
  • finance committee
  • investment pool

  • woods hole
  • investment funds
  • spending rate
  • management review
  • government contracts

  • expenses associated
  • program expense
  • planned giving
  • nongovernment funded
  • periodically reviews

  • committee periodically
  • direct program
  • financial activity
  • unrestricted endowment
  • financial statements

  • award trust
  • engineering fund
  • academy complex
  • nas council
  • financial information

  • rate policy
  • cost pool
  • nonfederal sources
  • funded activities
  • total direct


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