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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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Suggested Citation:"I. Investments." National Academy of Sciences. 2003. Report of the Treasurer to the Council for the Year Ended December 31, 2002. Washington, DC: The National Academies Press. doi: 10.17226/10760.
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I. Investments 7

SCHEDULE 1 Endowment and Trust Investment Funds - Description of Funds from Inception for the Year Ended December 3], 2002 ~ ENDOWMENT A Unrestricted 1. NAS Unrestricted Endowment Agassiz Fund - Bequest of Alexander Agassiz, a member of the Aeademy. Carnegie Fund - Balance of gift of $5,000,000 of the Carnegie Corporation of New York, for the purposes of the National Aeademy of Sciences/National Research Council, $1,725,000 of which has been used to cover the cost of the Aeademy building and the acquisition of other property. Commonwealth Fund - A grant of the Commonwealth Fund for capital endowment of the Academy. Carl Eekart Fund - Bequest of Carl Eckart received for general purposes of the Academy. Ford Foundation Fund - A grant of the Ford Foundation for capital endowment of the Aeademy Henrietta and Alexander Hollaender Fund - A bequest to the Aeademy from Dr. Alexander and Mrs. Henrietta Hollaender. Grayee B. Kerr Fund - A grant from Grayee B. Kerr Fund for general purposes of the Aeademy Nealley Fund - Bequest of George True Nealley for general purposes of the Aeademy. Simon Ramo Fund - A gift from Simon Ramo for general purposes of the Aeademy. Rockefeller Foundation Fund - A grant of the Rockefeller Foundation to the National Aeademy of Sciences for general purposes. Dorothea and Herbert Simon Fund - A gift from Dorothea and Herbert Simon for general purposes of the Aeademy. Sloan Foundation Endowment Fund - A grant of the Alfred P. Sloan Foundation for general purposes of the Aeademy. Amy Prudden Turner Fund - Bequest of Amy Prudden Turner for general purposes of the Aeademy to serve as a memorial to her husband Scott and herself. Anonymous Endowment Fund - A gift for general purposes of the Aeademy from a donor who wishes to remain anonymous. General Endowment Fund - Bequest of David Lloyd Fillman and others for general purposes of the Aeademy. 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. Members Endowment Fund - Contributions from various members to be used for general purposes of the Aeademy. Subtotal: NAS Unrestricted Endowment 2. IOM Unrestricted Endowment General Endowment Fund - Contributions from various sources including members of the , Institute of Medicine, for capital endowment of the IOM. Robert Wood Johnson Foundation Fund - An endowment grant, the income from which is to be used for core support of the Institute of Medicine. For endowment contributions, the capital is typically restricted and the income is unrestricted. 8 Capital Contribution Column 1 of Schedule 1-A $ 50,000 3,275,000 500,000 1,228,130 5,000,000 500,000 250,000 19,556 14,000 1,000,000 586,623 1,000,000 29,662 7,146,660 3,152,095 2,488,967 $26,240,693 $ 985,473 5,000,000

SCHEDULE 1 Endowment and Trust Investment Funds - Description of Funds from Inception for the Year Ended December 31, 2002 IOM Kellogg Fund - A grant from the Kellogg Foundation to be used for general purposes of IOM. IOM Members' Dues 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 transfer of $250,000 as a matching contribution to the endowment contribution to the IOM's Food and Nutrition Board. John D. and Catherine T. MacArthur Foundation Fund - A grant to be used exclusively as a permanent endowment to the Institute of Medicine, the income from which is restricted to the general purposes of the Institute. Pharmaceutical Discretionary Fund - A grant from W. K. Kellogg to further the IOM's long- range program development. 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 general purposes of the Institute of Medicine. Miscellaneous Private Sector- Contributions of Kaiser Permanente to be used for core support requirements of the Institute of Medicine. Subtotal: IOM Unrestricted Endowment B. Restricted for Specif c Purpose 1. Program a. NAS Restricted Program Arts in the Academy Fund - Contribution from various sources for sponsoring free cultural programs of merit for local residents and for providing a platform for musicians and artists. 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. 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. Blakeslee Fund - Bequest of Albert Francis Blakeslee, the income from which is to be used in support of genetics research. 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. The Coca-Cola Foundation Fund - A grant to be used for initiatives in precollege science and mathematics education. For endowment contributions, the capital is typically restricted and the income is unrestricted. Capital Contribution Column 1 of Schedule 1-A $ 282,500 197,500 488,485 5,000,000 480,000 259,448 26,346 $12,719~752 $ 3,934 500,000 420,232 886,902 258,081 50,000 9

SCHEDULE 1 Endowment and Trust investment Funds - Description of Funds from Inception for the Year Ended December 3], 2002 Henry & 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. 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. Cecil and Ida Green Fund - A gift from Cecil and Ida Green for general purposes of the Academy. Global Commons Proiect Fund 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.D. education, assuring access to quality health care, assessing the role of biotechnology in the future of agriculture, and similar issues as they arise. Kobelt Fund - Bequest of Nina I. Kobelt to be used for research scholarships for worthy students. Andrew W. Mellon Foundation Fund - A grant from the Andrew W. Mellon Foundation to endow a program of Academy-initiated studies. The George and Cynthia Mitchell Endowment for Sustainability Science at the National Academy of 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. The Kumar and Shela Patel Endowment for US-India Dialogs - To support US-India scientific and technical communication and dialog through various Academy activities. 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. Arthur M. Sackler Colloquia of the National Academy of Sciences Fund - A gift from Mrs. Arthur M. Sackler to endow, in perpetuity, a series of scientific symposia that promote interaction among world-class researchers in rapidly advancing scientific fields. 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. NAS Members Endowmentts) - Additional member contributions that have been designated for special purposes, such as the Board on Chemical Sciences Fund, the Committee on Human Rights Fund, the Committee on International Security and Arms Control Fund, and the Section 14 Chemistry Discretionary Fund. Subtotal: NAS Restricted Program For endowment contributions, the capital is typically restricted and the income is unrestricted. 10 Capital Contribution Column 1 of Schedule 1-A $ 850,000 5,047,846 467,256 39,058 20,000,000 296,593 1,000,000 2,000,000 600,000 1,150,755 1,875,000 1,000,000 242,215 $36,687,872

SCHEDULE 1 Endowment and Trust Investment Funds - Description of Funds from Inception for the Year Ended December 3l, 2002 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. Consequences of Uninsuranee Dissemination Activities Food and Nutrition Board Fund- Grant of $250,000 to the Institute of Medicine as a contribution to the endowment fund to support eve activities of the Food and Nutrition Board. This award was contingent on the Institute of Medieine transferring a matching amount from the 1986 unrestricted contribution from the Kaiser family for general eve support of the Institute. Further contributions to the FNB endowment would be matched by one dollar from earlier grant for every two dollars of new contributions. Food and Nutrition Board Corporations Fund- Contributions from Monsanto Company and Nestle, USA, Ine., to provide support for FNB activities. Food and Nutrition Board Members Fund- Contributions from various members to be used for general purposes of the Food and Nutrition Board. Howard Hughes Medical Institute Fund- Contribution for the exclusive use of the Institute of Medieine to initiate and maintain a program of studies whose n~,rnn.ce. in to foster the. translation of science into advances in health. Improving Health Policy Communication - r—-r~~~ A The Riehard and Hinda Rosenthal Lecture Series - Through the generosity of the Riehard and Hinda Rosenthal Foundation, a lecture series was established in 1988. In 2000, the Riehard and Hinda Rosenthal Lecture Series was endowed at the Institute of Medieine of the National Academy of Sciences to bring greater attention to some of the critical health policy issues facing the country. Women's Health Issues Fund- Contribution from Syntex (U.S.A.), Ine., to be used for purposes related to women's health issues. Subtotal: IOM Restricted Program 2. Prizes and Awards a. NAS Prizes arid Awards American Psychological Association 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. Applied Mathematics and Numerical Analysis Fund - Gift of the International Business Machines Corporation to support the NAS award in Applied Mathematics and Numerical Analysis by an award of $5,000 approximately every three years. The fund principal is not restricted. Henryk Arctowski Fund - Bequest of Jane Aretowska in memory of her husband Henryk Aretowski, for the promotion and study of solar activity changes of short or long duration and their effects upon the ionosphere and terrestrial atmosphere. For endowment contributions, the capital is typically restricted and the income is unrestricted. Capital Contribution Column 1 of Schedule 1-A up 16,550 6,795 84,195 525,000 125,000 3,800 5,000,000 6,225 400,000 20.000 $ 6,187,565 $ 30,000 95,736 11

SCHEDULE 1 Endowment and Trust Investment Funds - Description of Funds from Inception for the Year Ended December al, 2002 B ache Fund - Bequest of Alexander Dallas Bache, a member of the Academy, to aid research in the physical and natural sciences. Blaauw Fund - Bequest of Marianne Blaauw to establish the Edmond and Marianne Blaauw Fund to support research in the field of ophthalmology. John J. Carty Fund - Gift of the American Telephone and Telegraph Company in recognition of the distinguished achievements of John J. C arty 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. 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. 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. 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. 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. 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. 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. 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. 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 B ache Gould received in 1954, and bequest of $10,000 from the estate of Elizabeth Chandler Hockley received in 1979. 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. 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. Hunsaker Fund - Gift of Mr. and Mrs. J. C. Hunsaker to found an Academy award in the field of aeronautical engineering. For endowment contributions, the capital is typically restricted and the income is unrestricted. 12 Capital Contribution Column 1 of Schedule 1-A $ 60,000 71,299 25,000 10,400 6,000 8,000 79,849 24,000 5,173 179,046 50,000 39,740 100,000 24,750

SCHEDULE 1 Endowment and Trust Investment Funds - Description of Funds from Inception for the Year Ended December 3I, 2002 Franklin Livingston Hunt Fund - Bequest of Franklin Livingston Hunt for aid to 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. 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. Marsh Fund - Bequest of Othniel Charles Marsh, a member of the Academy, to promote original research in the natural sciences. 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. Monsanto Award in Molecular Biology - A grant from the Monsanto Comnanv for an award ~ ~ ~ , to be given in recognition of contributions in the field of molecular biology. 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. 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. National Academy of Sciences Award in Mathematics - Established by the American Mathematical Society for a prize to be awarded every four years in mathematics. 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. National Academy of Sciences Award in Neuroscience - Established by the Fidia Research Foundation for an award in neuroscience, to be given every three years. 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. Pradel Fund - A bequest of Jules Pradel to be applied to work on the human central nervous system and allied subjects. 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. Helen P. Smith Fund - A bequest of Helen P. Smith in memory of her husband, Gilbert Morgan Smith, to establish a biannual medal and honorarium to be conferred in recognition of published research in marine and freshwater algae. For endowment contributions, the capital is typically restricted and the income is unrestricted. Capital Contribution Column 1 of Schedule 1-A $ 10,465 59,109 10,000 10,000 421,374 6,000 181,838 53,597 478,277 140,206 49,119 16,392 20,325 67,107 13

SCHEDULE 1 Endowment ant] Trust Investment Funds - Description of Punds from Inception for the Year Ended December 31, 2002 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. 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. 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. Waksman Fund - Gift of the Foundation for Microbiology for an award of $5,000 every two years to be known as the Selman A. Waksman Award in Microbiology. The contributions from the foundation may be fully expended for the intended purpose. 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 pre-Cambrian or Cambrian life and history shall be judged most meritorious; the award is to be known as the Charles Doolittle Walcott Medal. 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. 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. Subtotal: NAS Prizes and Awards b. IOM Prizes arid 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. 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. Subtotal: IOM Prizes and Awards 3. The National Academies' Corporation (TNAC) Restricted Endowment - An endowment from the Arnold and Mable Beckman Foundation for operating and program uses. The Beckman endowment is invested by the NAS on behalf of TNAC. For endowment contributions, the capital is typically restricted and the income is unrestricted. 14 Capital Contribution Column 1 of Schedule 1-A $ 8,000 10,000 505,359 10,000 5,000 15,000 25,000 $ 2,911,161 $ 1,200,000 1,009,179 $ 2 209 179 . . $12,1 12,013

SCHEDULE 1 Endowment and Trust Investment Funds - Description of Funds from Inception for the Year Ended December 3], 2002 4.Woods Hole Restricted Endowment Peter C. Cornell Trust Fund - To memorialize Detlev W. Bronk a former member and pres ident 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. 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. Penzance Foundation Fund - A grant for the J. Erik Jonsson Woods Hole Study Center especially for support of the property's Clark Carriage House. Woods Hole Endowment- Contributions from the Brown Foundation and various individuals for maintenance of the Woods Hole Study Center. Woods Hole Fund - Contributions from various individuals for maintenance of the Woods Hole Study Center. 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. Subtotal: Woods Hole Restricted Endowment 5. Transportation Research Board Restricted Endowment Turner Award - Holds the income received from private sources to be awarded to individuals who have been selected for the Francis Turner Medal for Lifetime achievement in Transportation. 6. PEAS 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. II. FUNDS FUNCTIONING AS ENDOWMENT A. Unrestricted Funds National Academy of Sciences Reserve Fund 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. 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. Subtotal: Funds Functioning as Endowment, Unrestricted For endowment contributions, the capital is typically restricted and the income is unrestricted. Capital Contribution Column 1 of Schedule 1-A $ 100,000 2,002,500 502,500 964,240 12,874 50,000 $ 3,632,114 $ 37,750 $ 50,102 $ 1,307,024 500,000 1,500,000 $ 3.307,024 15

SCHEDULE 1 Endowment and Trust Investment Funds - Description of Funds from Inceptio'~ for the Year Ended December 3l, 2002 B. Restrictedfora Specific Purpose Postemployment Benefits 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. Proceedings of the National Academy of Sciences Fund TNAC Capital Fund 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. Subtotal: Funds Functioning as Endowment, Restricted for a Specific Purpose III. RESTRICTED CONTRIBUTIONS A. NAS 1. Programed Basic Science Fund - Various - Contributions from American Telephone and Telegraph Corporation, Atlantic Richfield Foundation, Dow Chemical Corporation, E. I. DuPont de Nemours & Company, International Business Machines Corporation, Merck and Company, Monsanto Company, Shell Oil Companies Foundation, and Standard Oil Company to support studies designed to strengthen the basic natural sciences (physics, chemistry, mathematics, and biology). Martian E. Koshland Science Museum - A gift from Daniel E. Koshland, Jr. and the Koshland Memorial Foundation in memory of Marian E. Koshland for the planning, designing, construction, and operation of a museum to be known as the Marian E. Koshland Science Museum for the purposes of promoting the public understanding of science and the public display of scientific exhibitions. Arthur M. Sackler Colloquia of the National Aeademy of Sciences Fund - A gift from Mrs. Arthur M. Sackler to fund the annual operations of a series of scientific symposia that promote interaction among world-class researchers in rapidly advancing scientific fields. Slipher Fund - Bequest of V. M. Slipher, a member of the Aeademy, to be used as determined by the Academy. The bequest principal is managed by Bank One, Scottsdale, Arizona, which makes periodic income distributions to the Aeademy. Income distributions may be fully disbursed by the Aeademy in the year of receipt. Subtotal: NAS Restricted Contributions - Program For endowment contributions the capital is typically restricted and the income is unrestricted. 16 Capital Contribution Column 1 of Schedule 1-A $ 700,000 19,826 1,000,000 1,595,306 100,000 $ 3,415,132 up 5,000,000 200,000 $ 5,200,000

SCHEDULE 1 Endowment and Trust Investment Funds - Description of Punds from Inception for the Year Ended December Al, 2002 2. Prizes arid Awards Levison Memorial Fund- Contributions from various sources established by the Council of the National Academy of Seienees to encourage staff development, training, and commitment within the Division of Behavioral and Social Seienees and Education (DBASSE). Funds will be made available on a ease-by-ease basis as supplemental support for development activities. A prize may be awarded to a DBASSE staff member who exerts notable and unusual effort toward improving the quality of working life in DBASSE. Richard Lounsbery Foundation Award - An annual award of $50,000 established by Mrs.Vera Lounsbery in memory of her husband, Richard Lounsbery, given in alternate years to a young French or American researcher in biology or medicine. The laureate is selected by a jury composed of members of the Academies of Seienees of the United States of America and France. It was Mrs. Lounsbery's desire to encourage reciprocal scientific exchanges between the two countries and to stimulate research contributing to the biological understanding of man and to the improvement and welfare of mankind. The recipient is given a three-year option on an additional $20,000, which may be used to pursue research in the opposite country. NAS Award in Scientific Reviewing - Funds contributed by Annual Reviews Ine. the Institute , , for Scientific Information in honor of James Murray Luck, for an award to be given in recognition of and to pay tribute to authors who have performed significant service to science and their fellow scientists in the writing of outstanding scientific reviews. These annual contributions may be fully disbursed in the year of award. Subtotal: NAS Restricted Contributions - Prizes and Awards Grand Total Capital Contribution Column 1 of Schedule 1-A $ O $1 14,710,357 Note: Items that have a "—" in the Capital Contribution column are those with no contribution this year but that have activity in the investment pool. In most cases, there is short-term investment activity. For endowment contributions, the capital is typically restricted and the income is unrestricted. 17

B. Restricted for Specific Purpose 1. P~-og~-am a. NAS SCHEDULE 1-A Endowment and Trust Investment Punds - Financial Detail of Funds frown Inception for the Period Ended December 31, 2002 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Cumulative Fund Market Reinvestment Cumulative Total Cash and Equity Values of Earned Realized Pooled Accrued Dec. 31, Dec. 31, Contribution Income Gains Investments Income 2002 2002 - I. Endowment A. Unrestricted 1. NAS Agassiz Fund $ 50 $ 59 $ 279 $ 388 $ $ 388 $ 424 Carnegie Fund 3 275 4 579 20 460 28 314 97 28 411 28 725 Commonwealth Fund 500 262 994 1756 6 1762 1655 Carl Eckart Fund 1 228 144 421 1 793 23 1 816 1 939 Ford Foundation Fund 5 000 2 659 9 595 17 254 57 17 311 16 624 Henrietta arid Alexander Hollaender Fund 500 70 175 745 (11) 734 725 Grayce B. Kerr Fund 250 15 80 345 15 360 339 Nealley Fund 20 26 161 207 18 225 164 Simon Ramo Fund 14 4 9 27 4 31 24 Rockefeller Foundation Fund 1000 545 1 950 3 495 41 3 536 3 416 Dorothea and Herbert Simon Fund 586 22 162 770 9 779 732 Sloths Foundation Fund 1000 546 1933 3 479 64 3 543 3 418 Amy Prudden Turner Fund 30 2 60 92 1 93 94 Anonymous Endowment Fund 7 147 1 182 2 894 11 223 202 11 425 10634 General Endowment Fund 3 152 789 2 390 6 331 117 6 448 6 239 Members Endowment Fund 2 489 363 833 3 685 61 3 746 3 403 $26 241 $1 1 267 $42 396 $79 904 $704 $80 608 $78 555 2. IOM General Endowment Fund $ 985 $ 249 $ 222 $ 1456 $189 $ 1645 $ 1212 Robert Wood Johnson Foundation Fund 5 000 1 527 2937 9 464 63 9 527 8 885 IOM Kellogg Fund 283 55 11 349 2 351 272 IOM Members Dues 198 38 7 243 243 190 Henry J. Kaiser Family Foundation Fund 489 73 167 729 21 750 700 John D. arid Catherine T. MacArthur Foundation Fund 5 000 1 439 2698 9 137 30 9 167 8 766 Pharmaceutical Discretionary Fund 480 94 17 591 (32) 559 463 Pharmaceutical Endowment Fund 259 71 101 431 34 465 396 Miscellaneous Private Sector Fund 26 14 12 52 (2) 50 47 $12 720 $ 3 560 $ 6 172 $22 452 $305 $22 757 $20 931 Arts ill the Academy Fund $ 4 $ 5 $ 1 $ 10 $ $ 10 $ 9 Basic Science Fund - Earth Sciences 500 226 194 920 1 921 803 Biology and Biotechnology Fund 420 63 145 628 3 631 631 Blakeslee Fund 887 177 681 1 745 3 1 748 1665 Thomas Lincoln Casey Fund 258 1 666 2497 4421 15 4436 4480 Coca-Cola Foundation Fund 50 10 19 79 — 79 77 I-lenry and Bryna David Endowment 850 22 (7) 865 2 867 771 Arthur L. Day Fund 5048 3 184 4693 12925 38 12963 12588 Cecil arid Ida Green Fund 467 122 454 1043 4 1047 1012 Global Commons Project Fund 39 38 17 94 94 85 Houston Advanced Research Center — 11 11 11 18

2. Prize.s alla Awards a. NAS An Eric Psvcholouical Association SCHEDULE 1-A Endowment and Trust Investment Funds - Financial Detail of Funds from inception for the Period Ended December 31, 2002 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Cumulative Reinvestment Cumulative Total of Earned Realized Pooled Contribution Income Gains Investments _ Fund Market Cash and Equity Values Accrued Dec. 31, Dec. 31, Income 2002 2002 W. K. Kellogg Foundation Fund $20,000 $2,716 $ 7,180 $29,896 $ 98 $29,994 $28,921 Kobelt Fund 297 344 735 1,376 5 1,381 1,376 Andrew W. Mellon Foundation Fund 1,000 215 404 1,619 6 1,625 1,586 The George and Cynthia Mitchell Endowment for Sustainability Science at NAS 2,000 17 (31) 1,986 6 1,992 1,892 The Kumar and Shela Patel Endowment for US-India Dialogs 600 27 19 646 2 648 512 Frank Press Fund for Dissemination and Outreach 1,151 178 339 1,668 4 1,672 1,477 Arthur M. Sackler Colloquia of the NAS 1,875 98 11 1,984 31 2,015 1,665 Scientists and Engineers for the Future Fund 1,000 204 408 1,612 6 1,618 1,772 NAS Members Endowment(s) 242 179 67 488 (5) 483 428 $36,688 $9,502 $17,826 $64,016 $219 $64,235 $61,750 b. 1OM Distinguished Scholar Fund $ 17 $ 20 $ 7 $ 44 $ (3) $ 41 $ 36 Consequences of Uninsurance 7 — 7 7 6 Dissemination Activities 84 1 (1) 84 84 77 Food arid Nutrition Board Fund 525 449 254 1,228 (72) 1,156 1,146 Food and Nutrition Board Corporations Fund 125 187 66 378 1 379 343 Food and Nutrition Board Members Fused 4 7 1 12 1 13 12 I-Iowa-d Hughes Medical Institute Fused 5,000 2,236 2,313 9,549 (472) 9,077 8,780 I~p~ovi'~g Health Policy Communication 6 — 6 1 7 6 Richard arid Hinda Rosenthal Lecture Series 400 12 — 412 (2) 410 358 Wo~ne'~'s Health Issues Fund 20 19 9 48 48 40 $ 6,188 $2,931 $ 2,649 $11,768 $(546) $11,222 $10,804 Science Directorate Fund $ 30 $ 13 $ 7 $ 50 $ (9) $ 41 $ 41 Applied Mathematics and Numerical Analysis Fund — 1 — 1 1 2 Ile'~-yk Arctowski Fund 96 1,198 769 2,063 3 2,066 1,939 Bale Fund 60 23 198 281 1 282 292 Blaauw Fund 71 208 339 618 2 620 620 John J. Carty Fund 25 320 235 580 1 581 545 Co~nstock Fund 10 305 181 496 1 497 484 Dripper Fund 6 117 96 219 (4) 215 195 Elliot Fund 8 71 58 137 137 132 19

SCHEDULE 1-A Endowment am Trust Investment Punds - Financial Detail of Funds from Inception for the Period Ended December 31, 2002 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Cumulative Reinvestment Cumulative of Earned Realized Contribution Income Gains Fund Market Total Cash and Equity Values Pooled Accrued Dec. 31, Dec. 31, Investments Income 2002 2002 - Estes Award in Social and Behavioral Sciences Gibbs Brothers Fund Gibbs Fund Ralph E. Gomory Award for the Application of Science Gould Fused Joseph Henry Fund Alexander Hollaender Award in Biophysics Husker Fund Fra'~kli~ Livingston Hunt Fund Kovalenko Fund Marsh Fund George P. Merrill Fund Monsanto Award in Molecular Biology Murray Fund NAS Award for Chemistry in Service to Society NAS Award in Mathematics NAS Award in Chemical Sciences NAS Award in Neurosciences NAS Fund for Sciences and Technology in International Affairs Pradel Fused H. P. Robertson Lectureship Fund Helens P. Smith Fund Me s. J. Lawrence Smith Fund Tho~pso'~ Fund Trolled Fund Waks~na'~ Award Walcott Fund G. K. Warren Fund W.~tso,~ Fund b. IOM Grist TV O. Lienhard Award Rho'~da arid Bernard G. Sarnat International Prize in Mental Health 3. The National Academies Corporation 20 $ 80 24 5 179 50 40 100 25 10 59 10 10 421 6 182 54 478 140 49 16 20 67 8 10 505 10 5 15 25 $ 78 80 50 76 160 48 75 138 90 467 31 15 155 92 46 3 118 90 383 87 197 269 92 1 369 13 58 525 $ 47 101 64 74 305 246 49 104 38 327 105 30 206 51 60 2 (1) 70 32 159 77 155 186 90 1 232 33 54 308 $ 205 205 119 329 515 334 224 267 138 853 146 55 782 149 288 59 477 328 171 558 184 419 463 192 3 106 10 51 127 858 $ 205 207 112 (2) 1 2 (1) 1 (1) (4) (23) 1 2 (3) 1 2 (3) (2) (15) (3) (3) 24) 327 516 336 223 268 138 8s3 46 As 783 148 289 ss 4s4 329 171 s60 181 420 46s 189 3,104 (s 48 124 834 $ 200 204 102 291 514 349 206 246 122 803 54 s4 749 146 270 46 389 294 150 508 172 393 438 181 2,548 s4 116 828 $ 2,909 $7,061 $6,087 $16,057 $ (81) $15,976 $14,775 $ 1,200 $1,011 $ 499 $ 2,710 1,009 183 123 1,315 $(624) $ 2,086 $ 2,504 (150) 1,165 1,001 $ 2,209 $1,194 $ 622 $ 4,025 $(774) $ 3,251 $ 3,sos $12,112 $1,161 $3,39s $16,668 $ s2 $16,720 $15,020 $12,1 12 $1,161 $3,39s $16,668 $ s2 $16,720 $15,020

SCHEDULE 1-A Endowment and Trust Investment Funds - Financial Detail of Funds fro no Inception for the Period Ended December 31, 2002 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Cumulative Reinvestment Cumulative of Earned Realized Contribution Income Gains Fund Market Total Cash and Equity Values Pooled Accrued Dec. 31, Dec. 31, Investments Income 2002 2002 4. Woods Hole Peter C. Cornell Fund $ 100 J. Erik Poisson Woods Hole Fund 2,003 Penzance Foundation Fund 503 Woods ~ Iole Endowment Fund 964 Woods Hole Fund 13 Richard King Mellon Foundation Fund 50 Transportation Research Board Turner Award 6. PNAS Billings Fused II. Funds Functioning as Endowment A. Unrestricted National Academy of Sciences Reserve Fund IOM Reserve Fused TRB Reserve Fused B. Restricted for a Specific Purpose Postemployment Benefits Henry G. Booker Fellowship Fund Proceedings of the National Academy of Sciences Fused TNAC Capital Fused USNC/IAU III. Restricted Co~tributio'~s A. NA:S 1. do 27 597 152 73 7 57 $ 69 782 196 164 9 47 $ 196 3,382 851 1,201 29 154 196 $ 182 3,393 3,156 853 790 1,204 925 29 29 154 139 $ 3,633 $ 913 $ 1,267 $ 5,813 $ 16 $ 5,829 $ 5,221 $ 38 $ 2 $ $ 38 $ 2 $ — $ 40 $ 1 $ 41 $ — — $ 40 $ 1 $ 41 $ $ 50 $ 293 $ 185 $ 528 $ 2 $ 530 $ 498 $ 50 $ 293 $ 185 $ 528 $ 2 $ 530 $ 498 $ 1,307 500 1,500 $ 3 307 $ 505 $ 166 $ 3,978 $ (15) $ 3,963 $ 3,049 _ ~ 39 122 344 $ 58 26 82 $ 1,404 648 1,926 $ (20) $ 1,384 $ 1,126 1 649 487 4 1,930 1,436 $ 700 20 1,000 1,595 100 $ 78 2 1,001 386 16 $ 28 $ 806 26 833 356 4 2,834 2,337 120 $ 3 $ 809 $ 671 26 27 9 6 2,843 2,609 2,343 1,867 120 94 $ 3,415 $ 1,483 $ 1,225 $ 6,123 $ 18 $ 6,141 $ 5,268 Progr.~n Basic Science Fund - Various $ — $ M. E. Koshla'~d Fund 5,000 Arthur M Sackler Colloquia of the NAS 200 Slipher Fund 2. Prizes arid Awards Levis Memorial Fund Richer cl Lou'~sbery Foundation Award NAS Award ill Scientific Reviewing NAS Award for Initiatives in Research NAS Libraries Project NAS Support Staff Award TOTAL 393 162 $ $ 1 $ 5,393 362 — 2 2 $ 5,200 $ 560 $ $ 5,760 $(1,416) $ 4,344 $ — $1 14 710 $40,432 $81,990 $237,132 $(1,515) $235,617 $219,376 , $ 1 $ (922) 4,471 (395) (12) (33) (12) 2 (86) (86) (2) (2) — (3) (3) 4 4 2 21

SCHEDULE 1-B Endowment and Trust Investment Funds - Financial Detail of Funds fo,- tile Year Ended December Al, 2002 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Fund Fund Equity Expenditures Equity Dec. 31, Earned Realized and Dec. 31, 2001 Contributions Income Loss Transfers 2002 I. Endowment A. Unrestricted 1. NAS Agassiz Fused Carnegie Fund Co~nmo'~wealth Fund Carl Eckart Fund Ford Foundation Fund Henrietta arid Alexander Hollaender Fund Grayce B. Kerr Fund Nealley Fused Simon Ramo Fund Rockefeller Foundation Fund Dorothea arid Herbert Simon Fund Sloan Foundation Fund Allay P~-~clde~ Turner Fund Ai~o~yn~ous Endowment Fund General Endowment Fund Members Endowment Fund 18 364 $ 407 $— $ 29 669 1 835 1 883 18 039 766 375 232 33 3 686 434 3 693 97 1 1 890 6 720 3 824 $ 83 583 $453 $1 634 $(122) $(4 940) $80 608 - 9 $ (1) 599 (44) 34 (3) 40 (3) 347 (26) 15 (1) 7 (1) 3 71 13 71 2 — 222 2 130 69 71 (5) (2) (5) 6) 0) (s) $ (27) (1 813) (104) (122) (1 049) (46) (21) (10) (2) (216) (30) (216) (6) (671) (394) (213) $ 388 28411 1 762 1 816 17311 734 360 225 31 3 536 779 3 543 93 1 1 425 6448 3 746 2. IOM Ge'~e~al Endowment Fund $ 1 587 $ 91 $ 25 $ (2) $ (56) $ 1645 Robert Wood Johnson Foundation Fund 9 898 — 183 (16) (538) 9 527 IOM Kellogg Fund 345 — 6 — 351 IOM Members Dues 239 — 4 243 Heresy J. Kaiser Family Foundation Fund 779 — 14 (1) (42) 750 John D. arid Catherine T. MacArthur Fo~datio'~ Fund 9 531 — 181 (16) (529) 9 167 Pha~-~n ~ce~tical Discretionary Fund 551 — 9 (1) 559 Pha~-~aceutical Endowment Fund 482 8 (1) (24) 465 Miscellaneous Private Sector Fund 52 _ 1 (3) 50 $23464 $ 91 $ 431 $ (37) $(1 192) $22757 B. Restricted for Specific Purpose 1. PI o,`'r.lm a. NAS Arts ilk the academy Fund $ 10 $— $ $ $ $ 10 Basic Science Fund - Earth Sciences 957 — 17 (2) (51) 921 Biology and Biotechnology Fund 659 13 (1) (40) 631 Bl ~keslee Fund 1 818 36 (3) (103) 1748 Thomas Lincoln Casey Fund 4 633 92 (8) (281) 4 436 Coca-Cola Foundation Fund 82 _ 2 (5) 79 levy and Bryna David Endowment 864 — 16 (1) (12) 867 A~-tl~r L. Day Fund 13 472 — 265 (22) (752) 12963 Cecil acid Ida Green Fund 1 091 — 21 (2) (63) 1 047 Global Commons Project Fund 92 2 94 Ilo~ston Advanced Research Center 10 1 11 Current market values are reported in Schedule 1-A. 22

SCHEDULE 1-B Endowment and Trust Investment Funds - Financial Detail of Funds for the Year Ended December 3], 2002 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Fund Fund Equity Expenditures Equity Dec. 31, Earned Realized and Dec. 31, 2001 Contributions Income Loss Transfers 2002 W. K. Kellogg Foundation Fund $31 249 $ $ 606 $ (44) $(1 817) $29 994 Kobelt Fund 1441 — 28 (2) (86) 1 381 Andrew W. Mellon Foundation Fund 1 694 — 34 (3) (100) 1 625 The George and Cynthia Mitchell lS~clow~nent for Sustainability Science at the National Academy of Sciences — 2 000 23 (31) _ 1 992 The Kumar and Shela Patel Endowment for US-India Dialogs 638 — 11 (1) _ 648 Frank Press Fund for Dissemination arid Outreach 1737 — 31 (3) (93) 1672 Arthur M. Sackler Colloquia of the NAS 1 360 625 33 (3) — 2015 Scientists and Engineers for the Future Fund 1698 36 (3) (113) 1618 NAS Members Endowment(s) 455 20 9 (1) 483 $63 960 $2 645 $1 276 $(130) $(3 516) $64 235 b. IONI Distillg~lished Scholar Fund $ 40 $ — $ 1 $ $ — $ 41 Consequences of Uninsurance Dissemination Activities 4 80 1 (1) Focal arid Nutrition Board Fund 1 135 _ 23 (2) Food arid Nutrition Board Corporations Fund Food arid Nutrition Board Members Fused Howard Hughes Medical Institute Fed I~-ovi~g Health Policy Communication Richard arid Hinda Rosenthal Lecture Scabies Women s Health Issues Fund 7 a an 1 373 — 7 13 7 84 1 156 (1) 379 13 9 431 180 (15) (519) 9 077 4 3 — 7 210 200 7 (1) (6) 47 410 1 — — 48 $11264 $ 283 $ 220 $ (20) $ (525) $11222 2. Prizes Bald Awards a. NAS A~nerica'~ Psychological Association Science Directorate Fund $ 48 $ — $ 1 $ $ (8) $ 41 Applied Mathematics and Numerical Analysis Fund 16 — 1 (15) 2 llen~ykArctowski Fund 2115 — 40 (3) (86) 2066 Bache Fund 293 6 _ (17) 282 Bla~uw Fund 643 13 (1) (35) 620 John J. Carty Fund 571 11 (1) 581 Co~stock Fund 488 — 10 (1) 497 Current market vales are reported in Schedule 1-A. 23

SCHEDULE 1-B Endowment and Trust investment Funds - Financial Detail of Funds for the Year Ended December 31, 2002 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Fund Equity Dec. 31, 2001 Earned Realized Contributions Income Loss Expenditures and Transfers Fund Equity Dec. 31, 2002 Draper Fund Elliot Fused Estes Award in Social and Behavioral ~ - ~clellces Gibbs Brothers Fund Gibbs Fused Ralph E. Gomory Award for the Application of Science Gould Fused Joseph Henry Fund Alexander Hollaender Award in B. iophysics Hunsaker Fund Fra~kli'~ Livingston Hunt Fund Kovale~ko Fund M ~~ sh Fused George P. Merrill Fund Monsanto Award in Molecular 13 iology Mar fly Fused NAS Award for Chemistry in Service to Society NAS Award in Mathematics NAS Award in Chemical Sciences NAS Award in Neurosciences NAS Fused for Sciences and Technology in International Affairs P~.~clel Fused H. P. Robertson Lectureship Fund I]ele'~ P. Smith Fund Mars. J. Lawrence Smith Fund Tho~npso'~ Fund Trolled Fund W Led Award Walcott Fund G. K. Whiten Fund W.`tso~ Fund b. IOM Gustav O. Lienhard Award $ 2 100 Rhoda arid Bernard G. Samat l~ter'~ational Prize in Mental Health 3. The Natio'~alAcademies Corporation Current market valises are reported in Schedule 1-A. 24 $ 211 134 201 208 116 350 535 349 219 — 263 135 829 152 57 802 145 283 57 371 324 168 551 192 413 457 185 3 166 (15) 61 136 818 4 3 4 2 6 11 7 4 s 3 9 16 3 1 15 3 6 (1) (1) 100 8 (1) (1) 10 4 8 9 4 53 10 2 17 $ 215 137 (5) (6) (29) (3o) (20) (9) (3) (33) (3) - (1) (1) (1) (4) (111) (14) (14) 205 207 112 327 516 336 223 268 138 853 146 55 783 148 289 55 454 329 171 560 181 420 465 189 3 104 (5) 48 124 834 $ 16 047 $119 $305 $(18) $(477) $15 976 $ $51 $ (4) 1,225 — 21 (2 $ (61) $ 2,086 (79) 1,165 $ 3,325 $ $72 $ (6) $(140) $ 3,251 $ 17,239 $ _ $314 $(28) $ (80s) $16,720 $ 17,239 $ $314 $(28) $ (805) $16,720

III. Restricted Co~ltributions A. NAS 1. Progl-`llll Basic Sciellce Fund - Various M.E. Koshl.llld Fund Arthu~- M. Sackler Colloquia of the NAS Slipher F~'nd 2. Prizes a~cl Awards Leviso'~ Memorial Fund Richa~-d Lor~'lsbery Foundation Award NAS Award in Scientific Reviewing NAS Awa~-d for Initiatives in Research NAS Libraries Project NAS S c~ppo'-t Staff Award TOTAL Current market v.~lues are reported in Schedule 1-A. SCHEDULE 1-B Endowment and Trust ·nvestment Funds - Financ~al Detai! of Funds for the Year Ended December 31, 2002 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Fund Fund Equity Expenditures Equity Dec. 31, Earned Realized and Dec. 31, 2001 Contributions Income Loss Transfers 2002 - 4. Woods llole Peter C. Cornell Fund $ 204 $ — $ 4 $ - $ (12) $ 196 J. Erik Jo'~sso'~Woods Hole Fund 3,532 _ 66 (5) (200) 3,393 Pe~za~ce Fou'~dation Fund 888 — 16 (1) (50) 853 Woocls llole Endowment Fund 1,244 1 19 (1) (59) 1,204 Woods l-Iole Fund 30 — 1 (2) 29 Richard Ki'~g Mellon Foundation Fund 160 — 3 — (9) 154 $ 6,058 $ 1 $ 109 $ (7) $ (332) $ 5,829 5. Transpo~tio~ Research Board $ 40 $ — $ 2 $ — $ (1) $ 41 Tur'~er Awa~-~1 $ 40 $ — $ 2 $ — $ (1) $ 41 6. PNAS Billillgs Fu~d $ 521 $ — $ 10 $ (1) $ $ 530 $ 521 $ — $ 10 $ (1) $ — $ 530 II. Funds Functio~i'~g `~s Endowment A. Unrestrictecl National Acaden~y of Sciences Reserve Fund $ 990 $ — $ 21 $ (6) $ 379 $ 1,384 IOM Rese~-ve F:~d 640 — 10 (1) 649 TRB Reserve Fu'~d 1,904 29 (3) 1,930 $ 3,534 $ — $ 60 $ (10) $ 379 $ 3,963 B. Restrictecl fo~- ~ Specific Purpose Postemploylnellt Benefits $ 796 $ — $ 14 $ (1) $ — $ 809 Henry G. Booker Fellowship Fund 25 — 1 — 26 Proceedings of the National Academy of Scie'~ces Fu~d 2,795 — 53 (5) — 2,843 TNAC G~pital Fr~nd 2,407 — 40 (4) (100) 2,343 USNC/IAU 118 — 2 — — 120 $ 6,141 $ — $ 110 $ (10) $ (100) $ 6,141 $ 1 4,561 (163) (12) ~P - 2 (28) (2) — (22) 18 4 2 ~p 192 75 64 $ $ - $ 1 (282) (9) 6 (64) 1 4,471 (33) (12) (86) (2) (3) $ 4,343 $ 99 $ 256 $ — $ (354) $ 4,344 $239,519 $3,691 $4,799 $(389) $(12,003) $235,617 ~J

SCHEDULE 2 Endowment and Trust Investment Funds - Summary by Asset CIass December 3], 2002 ($ in thousands) Balance Balance Quoted Investment Dec. 31, Dec. 31, Market Income 2001 Additions Realized 2002 Dec. 31, Year Ended (et cost) (et cost) Reductions* Gain/(Loss) (et cost)** 2002 Dec. 31,2002 FIXED-INCOME SECURITIES (Schedule 2-A) Cash Equivalents $ 2,702 $ 23,329 $ 24,335 $ — $ 1,696 $ 1,696 $ 25 Bonds and Notes 51,732 2,143 7,457 (2,928) 43,490 42,355 2,579 Real Estate - Mo~-t~a~es 8,663 1,247 7,416 7,416 739 TotalFixed-ll~come Securities $ 63,097 $ 25,402 $ 33,039 $(2,928) $ 52,602 $ 51,467 $3,343 EQUITY SECURITIES (Schedule 2-B) 167,086 24,023 19,168 2,545 174,486 167,909 1,214 TOTAL POOLED INVESTMENTS $230,183 $ 49,425 $ 52,207 $ (383) $227,088 $219,376 $4,557 Less: Investment Advisory Fees (101) Net Investment Come *Reductions from sales, redemptions, or payoff of mortgage. **Balance excludes short-term investments that are reported in Schedules 1-A and 1-B. 26 $4,456

SCHEDULE 2-A Endowment and Trust investment Fund - Fixed-Income Securities December 31, 2002 ($ in thousands) Interest Quoted Rate Maturity Cost Market _ CASH EQUIVALENTS SSGA U.S. Motley Fund TOTAL CASH EQUIVALENTS Variable (1) Demand $ 1,696 $ 1,696 $ 1,696 $ 1,696 BONDS AND NOTES MSIF Trust I~vestme'~t Grade Fixed I Fund Variable (2) Demand $12,465 $12,523 PIMCO Total Returns Fund Class A Variable (3) Demand 15,617 15,835 T. Rowe Price l~ter'~ational Bond Fund Variable (4) Demand 2,834 2,690 Scudder Global Bond Income Fund Variable (5) Demand 3,101 2,596 State Street Batik — Demand 226 226 U.S. Treasury Securities — 05/15/23 2,827 3,701 Vanguard High-Yield Corporate Variable (6) Demand 6,420 4,784 TOTAL BONDS AND NOTES _43,490 $42,355 REAL ESTATE MORTGAGES Bank of New York 9.125% $ 6,089 $ 6,089* Bank of New York 9.125% 1,327 1,327* TOTAL REAL ESTATE - MORTGAGES $ 7,416 $ 7,416* TOTAL FIXED INCOME SECURITIES $52,602 $51,467 Current yield at D`'ce'''ber 31, 2002: (1) 1.01% (4) 2.62% (2) 2.08% (5) 2.52% (3) 3.94%. (6) 8.62% *Recorded at cost 27

SCHEDULE 2-B Endowment and Trust Investment Pool - Equity Securities December 31, 2002 ($ in thousands) Number of Shares 681,587 258 9 235,974 9,756 19,536 121,557 106,036 342,843 980,972 177,860 667,340 101,345 166,750 291,591 56,472 755,802 1,167,348 Babson Enterprise Fund Berkshire Hathaway, Inc. Berkshire Hathaway, Inc. (Class B) Capital International Emerging Market Fund Chiron Corporation T. Rowe Price Science and Technology Fund Putnam New Opportunities (Class A) Scudder International Fund- Class S Templeton Emerging Market Series Fund Templeton Foreign Equity Series - Primary Shares Vanguard European Stock Index Fund Vanguard Index Extended Institional Shares Vanguard International Growth Fund Vanguard International Value Fund Vanguard Institutional Index Fund Vanguard Pacific Stock Index Fund Vanguared Small Capitalization Institutional Portfolio Vanguard Windsor Fund Subtotal Hedge Funds Commonfund Hedge Investors Company B2 GT Offshore Funds, Ltd Ironwood Partners L. P. Lexington Associates Man-Glenwood Medallion Capital Investment Subtotal Private Placements Belmont II Limited Partners Capital Z Financial Services Fund II, L.P. Commonfund, International Private Equity Partners III, L.P. Commonfund, Endowment Private Equity Partners IV, L.P. GS Private Equity Partners 1999, L.P. Insurance Partners, I MIT Private Equity Fund New Enterprise Associates The Investment Fund Foundation Subtotal 990,960 $ 10,000 4,606 4,606 115 4,496 764 1,420 Cost $ 10,016 1,128 14 6,344 205 7,500 7,500 4,629 3,228 12,622 7,745 19,582 4,388 4,624 14,305 2,350 14,940 18,721 $139,841 Quoted Market $ 10,381 18,770 22 5,621 367 2,443 3,456 3,219 2,777 11,899 6,766 12,506 3,918 3,140 23,455 2,171 10,226 14,008 $135,145 $ 9,910 4,696 4,820 215 4,306 2,164 $ 26,111 $ 24,587 $ $ 2 1,819 242 499 1,372 299 1,075 72 1,273 $ 6,653 2,511 310 607 1,889 1,339 1,493 535 1,374 $ 10,058 TOTAL EQUITY SECURITIES $ 174,486 $ 167,909 28

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