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I. Investments 9

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SCHEDULE 1 Endowment and Trust Investment Funds Description of Funds Capital for the Year Ended December 31, 2005 Contribution Column 1 of Schedule 1A 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 Coun- cil, $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. 1,246,323 Ford Foundation Fund A grant of the Ford Foundation for capital endowment of the Acad- emy. 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 Audu- bon Folios were transferred in fiscal year 1981. 3,152,095 Members Endowment Fund Contributions from various members to be used for the general purposes of the Academy. 2,636,163 Subtotal: NAS Unrestricted Endowment $ 26,464,075 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. $ 1,107,889 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 For endowment contributions, the capital is typically restricted and the income is unrestricted. 10

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SCHEDULE 1 Endowment and Trust Investment Funds Description of Funds Capital for the Year Ended December 31, 2005 Contribution Column 1 of Schedule 1A 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 re- lated 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 longrange 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 $ 12,842,168 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 Acad- emy of Sciences. 503,230 Biology and Biotechnology Fund Contributions from various individuals to be used for studies and other activities that address emerging research and policy issues affecting biol- ogy and biotechnology, especially crossdisciplinary aspects and those involving the inter- face 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 CocaCola 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 For endowment contributions, the capital is typically restricted and the income is unrestricted. 11

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SCHEDULE 1 Endowment and Trust Investment Funds Description of Funds Capital for the Year Ended December 31, 2005 Contribution Column 1 of Schedule 1A 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. educa- tion, 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 Academyinitiated 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. 8,000,000 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 perma- nently maintain a current National Academies book collection in honor of Dr. H.R. Shep- herd at their library. 4,000 Kumar and Shela Patel Endowment for USIndia Dialogs To support USIndia 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 worldclass 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 fo- cused on maintaining the health of American science and technology by ensuring an ade- quate supply of wellprepared 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 Chemis- try Discretionary Fund. 60,966 Subtotal: NAS Restricted Program $ 44,440,503 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 For endowment contributions, the capital is typically restricted and the income is unrestricted. 12

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SCHEDULE 1 Endowment and Trust Investment Funds Description of Funds Capital for the Year Ended December 31, 2005 Contribution Column 1 of Schedule 1A 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. 525,000 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 forwardlooking studies. This fund honors former IOM president David Hamburg and his wife, colleague, and longtime NRC participant Beatrix Hamburg. 555,000 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 trans- lation 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. 2,765,690 Kellogg Health of the Public Fund Matching Contributions In response to the Kellogg chal- lenge grant to match dollar for dollar up to $2.5 million to support communication and out- reach activities now and for future projects. 967,156 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 $ 11,087,461 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 impor- tance 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 For endowment contributions, the capital is typically restricted and the income is unrestricted. 13

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SCHEDULE 1 Endowment and Trust Investment Funds Description of Funds Capital for the Year Ended December 31, 2005 Contribution Column 1 of Schedule 1A 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 establish- ment 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 Acad- emy'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. 61,210 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 For endowment contributions, the capital is typically restricted and the income is unrestricted. 14

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SCHEDULE 1 Endowment and Trust Investment Funds Description of Funds Capital for the Year Ended December 31, 2005 Contribution Column 1 of Schedule 1A 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 contri- butions 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 alter- nate years to chemists working in industry, academia, government, and nonprofit organiza- tions. 181,838 National Academy of Sciences Award in Mathematics Established by the American Mathe- matical 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 estab- lished 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 sci- entists 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 pub- lished 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 ser- vices 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 ad- vancement 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 preCambrian 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. War- ren 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 $ 2,903,262 For endowment contributions, the capital is typically restricted and the income is unrestricted. 15

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SCHEDULE 1 Endowment and Trust Investment Funds Description of Funds Capital for the Year Ended December 31, 2005 Contribution Column 1 of Schedule 1A 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. Lien- hard Award to be given annually in recognition of an outstanding contribution to the ad- vancement 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. The National Academies' Corporation (TNAC) Restricted Endowment An endowment from the Arnold and Mabel Beckman Foundation for operating and program uses. The Beckman endowment is invested by the NAS on behalf of TNAC. $ 12,112,013 4. 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 leader- ship 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 5. 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 For endowment contributions, the capital is typically restricted and the income is unrestricted. 16

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SCHEDULE 1 Endowment and Trust Investment Funds Description of Funds Capital for the Year Ended December 31, 2005 Contribution Column 1 of Schedule 1A 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 opera- tions during periods of market decline. $ 3,176,230 IOM Reserve Fund Unexpended balance earned on endowment based on IOM Council spending plan. The IOM reserve permits the effective management of unanticipated finan- cial 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 onetime expenditures. 1,500,000 Subtotal: Funds Functioning as Endowment, Unrestricted $ 5,176,230 B. Restricted for a Specific Purpose Postemployment Benefits NAS assets set aside to fund the Academy's postemployment benefit liability calculated at the end of each year. $ 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. 19,825 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 Endow- ment 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. 5,134,871 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. 3,979,343 Proceedings of the National Academy of Sciences Fund 1,000,000 TNAC Capital Fund 1,595,306 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. as- tronomers in the activities of the International Astronomical Union Triennial General As- semblies. 100,000 Subtotal: Funds Functioning as Endowment, Restricted for a Specific Purpose $ 35,315,588 Grand Total $156,239,855 For endowment contributions, the capital is typically restricted and the income is unrestricted. 17

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SCHEDULE 1-A Endowment and Trust Investment Funds - Financial Detail of Funds for the Year Ended December 31, 2005 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Capital Market Market Contributions Value at 2005 2005 Value at as of Dec. 31, Dec. 31, 2005 Investment Expenditures Dec. 31, 2005 2004 Contributions Income & Transfers 2005 I. Endowment A. Unrestricted 1. NAS Agassiz Fund $ 50 $ 502 $ - $ 52 $ (24) $ 530 Carnegie Fund 3,275 34,666 - 3,560 (1,610) 36,616 Commonwealth Fund 500 2,232 - 230 (97) 2,365 Carl Eckart Fund 1,246 2,296 - 235 (108) 2,423 Ford Foundation Fund 5,000 21,976 - 2,262 (967) 23,271 Henrietta and Alexander Hollaender Fund 500 980 - 100 (42) 1,038 Grayce B. Kerr Fund 250 485 - 50 (20) 515 Nealley Fund 20 199 - 20 (9) 210 Simon Ramo Fund 14 33 - 3 (1) 35 Rockefeller Foundation Fund 1,000 4,460 - 460 (198) 4,722 Dorothea and Herbert Simon Fund 645 1,016 - 105 (41) 1,080 Sloan Foundation Fund 1,000 4,447 - 458 (198) 4,707 Amy Prudden Turner Fund 30 113 - 12 (5) 120 Anonymous Endowment Fund 7,146 14,264 - 1,468 (622) 15,110 General Endowment Fund 3,152 8,099 - 833 (360) 8,572 Members Endowment Fund 2,636 4,730 16 488 (201) 5,033 $ 26,464 $ 100,498 $ 16 $ 10,336 $ (4,503) $ 106,347 2. IOM General Endowment Fund $ 1,108 $ 1,766 $ 10 $ 179 $ (95) $ 1,860 Robert Wood Johnson Foundation Fund 5,000 10,664 - 1,074 (680) 11,058 IOM Kellogg Fund 283 390 - 41 - 431 IOM Members Dues 198 273 - 28 - 301 Henry J. Kaiser Family Foundation Fund 488 840 - 84 (54) 870 John D. and Catherine T. MacArthur Foundation Fund 5,000 10,686 (5) 1,067 (672) 11,076 Pharmaceutical Discretionary Fund 480 664 - 70 - 734 Pharmaceutical Endowment Fund 259 501 - 51 (30) 522 Miscellaneous Private Sector Fund 26 63 - 6 (4) 65 $ 12,842 $ 25,847 $ 5 $ 2,600 $ (1,535) $ 26,917 B. Restricted for Specific Purpose 1. Program a. NAS Arts in the Academy Fund $ 4 $ 13 $ - $ 2 $ - $ 15 Basic Science Fund - Earth Sciences 503 1,079 - 110 (51) 1,138 Biology and Biotechnology Fund 420 777 - 80 (33) 824 Blakeslee Fund 887 2,277 - 231 (101) 2,407 Thomas Lincoln Casey Fund 258 5,539 - 565 (235) 5,869 18

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SCHEDULE 1-A Endowment and Trust Investment Funds - Financial Detail of Funds for the Year Ended December 31, 2005 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Capital Market Market Contributions Value at 2005 2005 Value at as of Dec. 31, Dec. 31, 2005 Investment Expenditures Dec. 31, 2005 2004 Contributions Income & Transfers 2005 Coca-Cola Foundation Fund 50 98 - 10 (4) 104 Henry and Bryna David Endowment 850 1,093 - 116 (8) 1,201 Arthur L. Day Fund 5,048 15,502 - 1,574 (694) 16,382 Cecil and Ida Green Fund 467 1,302 - 133 (47) 1,388 Global Commons Project Fund 39 124 - 13 - 137 W. K. Kellogg Foundation Fund 20,000 37,123 - 3,839 (1,591) 39,371 Kobelt Fund 297 1,711 - 174 (71) 1,814 Andrew W. Mellon Foundation Fund 1,000 1,505 - 151 (78) 1,578 George and Cynthia Mitchell Endowment for Sustainability Sciences 8,000 7,409 2,000 937 (208) 10,138 George and Cynthia Mitchell Matching Endowment 35 19 2 23 - 44 New Canaan Library Fund 4 8 - 1 - 9 Kumar and Shela Patel Endowment for US-India Dialogs 600 700 - 75 - 775 Frank Press Fund for Dissemination and Outreach 1,168 2,038 - 212 (82) 2,168 Arthur M. Sackler Colloquia Fund 3,750 3,820 625 420 - 4,865 Scientists and Engineers for the Future Fund 1,000 1,512 - 152 (81) 1,583 NAS Members Endowment(s) 61 212 - 21 - 233 $ 44,441 $ 83,861 $ 2,627 $ 8,839 $ (3,284) $ 92,043 b. IOM Distinguished Scholar Fund $ 16 $ 52 $ - $ 6 $ - $ 58 Consequences of Uninsurance 7 8 - 1 - 9 Dissemination Activities 85 110 1 11 - 122 Food & Nutrition Board (FNB) Fund 525 1,231 - 130 - 1,361 FNB Corporations Fund 125 331 - 35 - 366 FNB Members Fund 5 18 - 2 - 20 Hamburg Endowment Fund 555 452 150 57 - 659 Howard Hughes Medical Institute Fund 5,000 12,548 - 1,303 (179) 13,672 Improving Health Policy Communication 17 15 5 2 - 22 Kellogg Health of the Public Fund 2,766 3,133 266 364 (109) 3,654 Kellogg Health of the Public Fund Matching Contributions 967 448 562 89 (38) 1,061 Richard and Hinda Rosenthal Lecture Series 1,000 1,009 200 130 (19) 1,320 Women's Health Issues Fund 20 61 - 6 - 67 $ 11,088 $ 19,416 $ 1,184 $ 2,136 $ (345) $ 22,391 19

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SCHEDULE 1-A Endowment and Trust Investment Funds - Financial Detail of Funds for the Year Ended December 31, 2005 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Capital Market Market Contributions Value at 2005 2005 Value at as of Dec. 31, Dec. 31, 2005 Investment Expenditures Dec. 31, 2005 2004 Contributions Income & Transfers 2005 2. Prizes and Awards a. NAS American Psychological Association Science Directorate Fund $ 30 $ 58 $ - $ 7 $ (1) $ 64 Henryk Arctowski Fund 96 2,728 - 285 (88) 2,925 Bache Fund 60 355 - 38 (17) 376 Blaauw Fund 71 766 - 81 (36) 811 John J. Carty Fund 25 701 - 70 (33) 738 Comstock Fund 10 636 - 67 (4) 699 Draper Fund 6 290 - 28 (18) 300 Elliot Fund 8 153 - 16 (4) 165 Estes Award in Social and Behavioral Sciences 80 238 - 25 - 263 Gibbs Brothers Fund 24 240 - 26 (1) 265 Gibbs Fund 5 137 - 14 (6) 145 Ralph E. Gomory Award for the Application of Science 179 449 - 44 (31) 462 Gould Fund 50 636 - 68 (30) 674 Joseph Henry Fund 40 415 - 44 (20) 439 Alexander Hollaender Award in Biophysics 100 273 - 29 (4) 298 Hunsaker Fund 25 353 - 35 (18) 370 Franklin Livingston Hunt Fund 11 179 - 18 - 197 Kovalenko Fund 61 1,100 - 117 (4) 1,213 Marsh Fund 10 182 - 19 (9) 192 George P. Merrill Fund 10 554 - 58 (11) 601 Monsanto Award in Molecular Biology 421 979 - 99 (34) 1,044 Murray Fund 6 156 - 17 (4) 169 NAS Award for Chemistry in Service to Society 182 356 - 34 (25) 365 NAS Award in Mathematics 54 58 - 6 (4) 60 NAS Award in Chemical Sciences 478 502 - 50 (23) 529 NAS Award in Neurosciences 140 408 - 44 (4) 448 NAS Fund for Sciences and Technology in International Affairs 49 222 - 22 (27) 217 Pradel Fund 17 1,288 - 137 - 1,425 H. P. Robertson Lectureship Fund 20 238 - 24 (14) 248 Helen P. Smith Fund 67 529 - 56 - 585 Mrs. J. Lawrence Smith Fund 8 579 - 61 - 640 Thompson Fund 10 223 - 23 - 246 Troland Fund 505 3,794 - 388 (120) 4,062 Walcott Fund 5 74 - 7 - 81 G. K. Warren Fund 15 165 - 17 - 182 Watson Fund 25 1,117 - 118 (4) 1,231 $ 2,903 $ 21,131 $ - $ 2,192 $ (594) $ 22,729 20

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SCHEDULE 1-A Endowment and Trust Investment Funds - Financial Detail of Funds for the Year Ended December 31, 2005 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Capital Market Market Contributions Value at 2005 2005 Value at as of Dec. 31, Dec. 31, 2005 Investment Expenditures Dec. 31, 2005 2004 Contributions Income & Transfers 2005 b. IOM Gustav O. Lienhard Award $ 1,200 $ 3,436 $ - $ 361 $ (57) $ 3,740 Rhonda and Bernard G. Sarnat International Prize in Mental Health 1,009 1,414 - 129 (213) 1,330 $ 2,209 $ 4,850 $ - $ 490 $ (270) $ 5,070 3. The National Academies' Corporation $ 12,112 $ 19,264 - $ 1,967 $ (832) $ 20,399 $ 12,112 $ 19,264 $ - $ 1,967 $ (832) $ 20,399 4. Woods Hole Peter C. Cornell Trust Fund $ 100 $ 239 $ - $ 25 $ (10) $ 254 J. Erik Jonsson Woods Hole Fund 2,003 4,140 - 427 (172) 4,395 Penzance Foundation Fund 503 1,040 - 107 (43) 1,104 Woods Hole Endowment Fund 971 1,197 1 123 (50) 1,271 Woods Hole Fund 13 37 - 4 (2) 39 Richard King Mellon Foundation Fund 50 176 - 17 (7) 186 $ 3,640 $ 6,829 $ 1 $ 703 $ (284) $ 7,249 5. PNAS Billings Fund $ 50 $ 696 $ - $ 74 $ - $ 770 $ 50 $ 696 $ - $ 74 $ - $ 770 II Funds Functioning as Endowment A. Unrestricted National Academy of Sciences Reserve Fund $ 3,176 $ 1,667 $ 1,245 $ 310 $ (245) $ 2,977 IOM Reserve Fund 500 671 - 71 - 742 TRB Reserve Fund 1,500 1,704 - 181 - 1,885 Due to National Academy of Sciences 50 - (194) (144) $ 5,176 $ 4,092 $ 1,245 $ 562 $ (439) $ 5,460 B. Restricted for a Specific Purpose Postemployment Benefits $ 700 $ 1,184 $ - $ 15 $ (1,199) $ - Henry G. Booker Fellowship Fund 20 45 - 5 - 50 Marian Koshland Science Museum Fund 22,786 23,926 - 2,394 (1,305) 25,015 Bruce Alberts Fund for the Marian Koshland Science Museum 5,135 - 5,135 694 (41) 5,788 National Science Resources Center Fund 3,979 3,782 584 447 (1) 4,812 Proceedings of the National Academy of Sciences Fund 1,000 3,786 - 403 (1) 4,188 TNAC Capital Fund 1,595 2,527 - 241 (583) 2,185 USNC/IAU 100 134 - 14 - 148 $ 35,315 $ 35,384 $ 5,719 $ 4,213 $ (3,130) $ 42,186 TOTAL $ 156,240 $ 321,868 $ 10,797 $ 34,112 $ (15,216) $ 351,561 21

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SCHEDULE 2 Endowment and Trust Investment Pool Asset Allocation as of December 31, 2005 U.S. Large Cap 20.3% Non-U.S. Fixed Income 1.5% Non-U.S. Stocks - Cash Developed 5.9% 18.7% Hedge Funds 12.0% Non-U.S. Stocks - Emerging 8.1% Private Placements 3.3% Real Estate 4.6% U.S. Small-Mid Cap Investment Grade 17.7% High-Yield Fixed Income Fixed Income 6.5% 1.4% 22

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SCHEDULE 2-A Endowment and Trust Investment Pool - Change in Valuation and Market Value Summary Change in Valuation from 12/31/04 to 12/31/05 Market Value at 12/31/04 $ 321,868 Realized Capital Gains 2,959 Unrealized Capital Gains 17,581 Reinvested Income 13,572 Contributions 10,797 Expenditures and Transfers (15,216) Market Value at 12/31/05 $ 351,561 Holdings and Market Value Summary as of 12/31/05 U.S. Large Stocks Fixed Income Berkshire Hathaway A 21,623 Morgan Stanley $ 3,124 Berkshire Hathaway B 27 PIMCO 19,065 Biotech Index 2,281 Price International 2,873 Vanguard Index 500 23,123 Scudder International 2,485 Vanguard Windsor 24,369 Vanguard High Yield 5,020 Subtotal $ 71,423 Other 335 Subtotal $ 32,902 U.S. Small - Mid Stocks Tamarack Enterprise $ 15,439 Real Estate Third Avenue Value 12,580 Dow Jones RE Index $ 6,725 Vanguard Extended 18,820 Green Bldg Mortgages 2,917 Vanguard Small 15,399 Third Avenue RE Fund 6,666 Subtotal $ 62,238 Subtotal $ 16,308 Non - U.S. Developed Hedge Funds Scudder International $ 5,345 Commonfund $ 10,560 Templeton Foreign 17,347 GT Offshore 7,585 Vanguard European 12,881 Ironwood 7,275 Vanguard Pacific 9,662 Princeton 16,646 Vanguard Intl. Growth 10,337 Subtotal $ 42,066 Vanguard Intl. Value 10,108 Subtotal $ 65,680 Private Placements $ 11,546 Non - U.S. Emerging Cash Equivalents $ 20,841 Capital International $ 14,225 Templeton Emerging 14,332 Subtotal $ 28,557 GRAND TOTAL $ 351,561 23

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