Endowment and Trust Investment Funds—Description of Funds for the Year Ended December 31, 2003

Capital Contribution Column 1 of Schedule 1-A

6. 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



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

$ 3,307,024

B. Restricted for a Specific Purpose


Postemployment Benefits

$ 700,000

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

$ 3,415,132

Grand Total


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.

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