National Academies Press: OpenBook
« Previous: Treasurer's Statement
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

I.
Investments

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

Endowment and Trust Investment Funds – Description of Funds for the Year Ended December 31, 2006
Capital Contribution (Column 1 of Schedule 1–A)

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 Council, $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.

 

1,246,366

Ford Foundation Fund – A grant of the Ford Foundation for capital endowment of the Academy.

 

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 Audubon Folios were transferred in fiscal year 1981.

 

3,542,095

Members Endowment Fund – Contributions from various members to be used for the general purposes of the Academy.

 

2,642,363

Subtotal: NAS Unrestricted Endowment

$

26,860,318

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.

$

1,110,589

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

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

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 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 long–range 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

$

12,844,868

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 Academy of Sciences.

 

503,231

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.

 

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 Coca–Cola 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

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

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. education, 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 Academy–initiated studies.

 

1,000,000

George and Cynthia Mitchell Endowment for Sustainability Sciences – Contribution from the George and Cynthia Mitchell Foundation to be held and used by the Academy in perpetuity to guide academic, government and other institutions in the development of sustainability science and to encourage the world’s business community to apply knowledge from this new field in business practices.

 

10,000,000

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 permanently maintain a current National Academies book collection in honor of Dr. H.R. Shepherd at their library.

 

4,000

Kumar and Shela Patel Endowment for US–India Dialogs – To support US–India 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 world–class 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 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.

 

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 Chemistry Discretionary Fund.

 

60,966

Subtotal: NAS Restricted Program

$

46,440,504

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

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

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.

 

525,100

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 forward–looking studies. This fund honors former IOM president David Hamburg and his wife, colleague, and longtime NRC participant Beatrix Hamburg.

 

863,375

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 translation 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.

 

3,234,002

Kellogg Health of the Public Fund Matching Contributions – In response to the Kellogg challenge grant to match dollar for dollar up to $2.5 million to support communication and outreach activities now and for future projects.

 

1,726,706

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

$

12,623,798

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 importance 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

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

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 establishment 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 Academy’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.

 

61,821

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

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

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.

 

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 alternate years to chemists working in industry, academia, government, and nonprofit organizations.

 

181,838

National Academy of Sciences Award in Mathematics – Established by the American Mathematical 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 established 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 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.

 

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 published 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 services 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 advancement 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 pre–Cambrian 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. Warren 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

$

2,903,873

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

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. Lienhard Award to be given annually in recognition of an outstanding contribution to the advancement 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.
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 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.

$

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

4.
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

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 operations during periods of market decline.

$

3,176,075

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.

 

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 one–time expenditures.

 

1,500,000

Subtotal: Funds Functioning as Endowment, Unrestricted

$

5,176,075

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
B.
Restricted for a Specific Purpose

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.

$

20,826

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 Endowment 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.

 

5,194,909

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.

 

4,479,344

Proceedings of the National Academy of Sciences Fund

 

1,000,000

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.

 

100,000

Subtotal: Funds Functioning as Endowment, Restricted for a Specific Purpose

$

33,581,322

III.
FUNDS HELD ON BEHALF OF OTHERS

A.
The National Academies’ Corporation (TNAC)

Operations Endowment – An endowment from the Arnold and Mabel Beckman Foundation to TNAC to support operations of the Beckman Center in Irvine, California. The endowment is held on behalf of TNAC and invested by the NAS.

$

8,000,000

Program Endowment – An endowment from the Arnold and Mabel Beckman Foundation to TNAC to support NRC program activities conducted in whole or in part at the Beckman Center. The endowment is held on behalf of TNAC and invested by the NAS.

 

1,939,644

TNAC Reserve for Program Expenditures – Unexpended income from the TNAC operations endowment as well as earnings from the TNAC program endowment are deposited into the Reserve for future spending. The Reserve supports NRC program activity held whole or in part at the Beckman Center. The Reserve is held on behalf of TNAC and invested by the NAS.

 

3,767,675

Subtotal: TNAC Endowment

$

13,707,319

TOTAL

$160,036,632

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

Endowment and Trust Investment Funds - Financial Detail of Funds for the Year Ended December 31, 2006

 

(Dollars in thousands)

ENDOWMENT AND TRUST INVESTMENT POOL

Capital Contributions as of Dec. 31, 2006

Market Value at Dec. 31, 2005

2006 Contributions

2006 Investment Income

2006 Expenditures & Transfers

Market Value at Dec. 31, 2006

I. Endowment

 

A. Unrestricted

 

 

1. NAS

 

 

 

Agassiz Fund

$

50

$

530

$

-

$

97

$

(25)

$

602

 

 

 

Carnegie Fund

 

3,275

 

36,616

 

-

 

6,712

 

(1,661)

 

41,667

 

 

 

Commonwealth Fund

 

500

 

2,365

 

-

 

434

 

(99)

 

2,700

 

 

 

Carl Eckart Fund

 

1,246

 

2,423

 

-

 

444

 

(113)

 

2,754

 

 

 

Ford Foundation Fund

 

5,000

 

23,271

 

-

 

4,273

 

(992)

 

26,552

 

 

 

Henrietta and Alexander Hollaender Fund

 

500

 

1,038

 

-

 

191

 

(43)

 

1,186

 

 

 

Grayce B. Kerr Fund

 

250

 

515

 

-

 

95

 

(21)

 

589

 

 

 

Nealley Fund

 

20

 

210

 

-

 

39

 

(10)

 

239

 

 

 

Simon Ramo Fund

 

14

 

35

 

-

 

6

 

(1)

 

40

 

 

 

Rockefeller Foundation Fund

 

1,000

 

4,722

 

-

 

867

 

(204)

 

5,385

 

 

 

Dorothea and Herbert Simon Fund

 

645

 

1,080

 

-

 

198

 

(45)

 

1,233

 

 

 

Sloan Foundation Fund

 

1,000

 

4,707

 

-

 

864

 

(203)

 

5,368

 

 

 

Amy Prudden Turner Fund

 

30

 

120

 

-

 

22

 

(6)

 

136

 

 

 

Anonymous Endowment Fund

 

7,146

 

15,110

 

-

 

2,776

 

(639)

 

17,247

 

 

 

General Endowment Fund

 

3,542

 

8,572

 

390

 

1,612

 

(371)

 

10,203

 

 

 

Members Endowment Fund

 

2,642

 

5,033

 

6

 

925

 

(210)

 

5,754

 

 

 

 

 

$

26,860

$

106,347

$

396

$

19,555

$

(4,643)

$

121,655

 

 

2. IOM

 

 

 

General Endowment Fund

$

1,111

$

1,860

$

3

$

338

$

(127)

 

2,074

 

 

 

Robert Wood Johnson Foundation Fund

 

5,000

 

11,058

 

-

 

2,091

 

(881)

 

12,268

 

 

 

IOM Kellogg Fund

 

283

 

431

 

-

 

82

 

-

 

513

 

 

 

IOM Members Dues

 

198

 

301

 

-

 

57

 

-

 

358

 

 

 

Henry J. Kaiser Family Foundation Fund

 

488

 

870

 

-

 

157

 

(70)

 

957

 

 

 

John D. and Catherine T. MacArthur Foundation Fund

 

5,000

 

11,076

 

-

 

1,996

 

(874)

 

12,198

 

 

 

Pharmaceutical Discretionary Fund

 

480

 

734

 

-

 

182

 

-

 

916

 

 

 

Pharmaceutical Endowment Fund

 

259

 

522

 

-

 

99

 

(41)

 

580

 

 

 

Miscellaneous Private Sector Fund

 

26

 

65

 

-

 

8

 

(5)

 

68

 

 

 

 

 

$

12,845

$

26,917

$

3

$

5,010

$

(1,998)

$

29,932

 

B. Restricted for Specific Purpose

 

 

1. Program

 

 

 

a. NAS

 

 

 

Arts in the Academy Fund

$

4

$

15

$

-

$

3

$

(1)

$

17

 

 

 

 

Basic Science Fund - Earth Sciences

 

503

 

1,138

 

-

 

210

 

(35)

 

1,313

 

 

 

 

Biology and Biotechnology Fund

 

420

 

824

 

-

 

109

 

(27)

 

906

 

 

 

 

Blakeslee Fund

 

887

 

2,407

 

-

 

439

 

(106)

 

2,740

 

 

 

 

Thomas Lincoln Casey Fund

 

258

 

5,869

 

-

 

1,078

 

(201)

 

6,746

 

 

 

 

Coca-Cola Foundation Fund

 

50

 

104

 

-

 

20

 

-

 

124

 

 

 

 

Henry and Bryna David Endowment

 

850

 

1,201

 

-

 

227

 

(10)

 

1,418

 

 

 

Arthur L. Day Fund

 

5,048

 

16,382

 

-

 

2,984

 

(741)

 

18,625

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

 

(Dollars in thousands)

ENDOWMENT AND TRUST INVESTMENT POOL

Capital Contributions as of Dec. 31, 2006

Market Value at Dec. 31, 2005

2006 Contributions

2006 Investment Income

2006 Expenditures & Transfers

Market Value at Dec. 31, 2006

 

 

 

 

Cecil and Ida Green Fund

 

468

 

1,388

 

-

 

256

 

(45)

 

1,599

 

 

 

 

Global Commons Project Fund

 

39

 

137

 

-

 

26

 

-

 

163

 

 

 

 

W. K. Kellogg Foundation Fund

 

20,000

 

39,371

 

-

 

7,424

 

(307)

 

46,488

 

 

 

 

Kobelt Fund

 

297

 

1,814

 

-

 

336

 

(50)

 

2,100

 

 

 

 

Andrew W. Mellon Foundation Fund

 

1,000

 

1,578

 

-

 

299

 

-

 

1,877

 

 

 

 

George and Cynthia Mitchell Endowment for Sustainability Sciences

 

10,000

 

10,138

 

2,000

 

2,113

 

(240)

 

14,011

 

 

 

 

George and Cynthia Mitchell Matching Endowment

 

35

 

44

 

-

 

16

 

-

 

60

 

 

 

 

New Canaan Library Fund

 

4

 

9

 

-

 

2

 

-

 

11

 

 

 

 

Kumar and Shela Patel Endowment for US-India Dialogs

 

600

 

775

 

-

 

146

 

(19)

 

902

 

 

 

 

Frank Press Fund for Dissemination and Outreach

 

1,167

 

2,168

 

-

 

410

 

-

 

2,578

 

 

 

 

Arthur M. Sackler Colloquia Fund

 

3,750

 

4,865

 

-

 

920

 

(2)

 

5,783

 

 

 

 

Scientists and Engineers for the Future Fund

 

1,000

 

1,583

 

-

 

288

 

(69)

 

1,802

 

 

 

 

NAS Members Endowment(s)

 

61

 

233

 

-

 

45

 

3

 

281

 

 

 

 

 

$

46,441

$

92,043

$

2,000

$

17,351

$

(1,850)

$

109,544

 

 

 

b. IOM

 

 

 

 

Distinguished Scholar Fund

$

17

$

58

$

-

$

11

$

-

$

69

 

 

 

 

Consequences of Uninsurance

 

7

 

9

 

-

 

1

 

(10)

 

-

 

 

 

 

Dissemination Activities

 

84

 

122

 

-

 

7

 

(129)

 

-

 

 

 

 

Food & Nutrition Board (FNB) Fund

 

525

 

1,361

 

-

 

258

 

-

 

1,619

 

 

 

 

FNB Corporations Fund

 

125

 

366

 

-

 

69

 

-

 

435

 

 

 

 

FNB Members Fund

 

5

 

20

 

-

 

4

 

-

 

24

 

 

 

 

Hamburg Endowment Fund

 

863

 

659

 

308

 

154

 

-

 

1,121

 

 

 

 

Howard Hughes Medical Institute Fund

 

5,000

 

13,672

 

-

 

2,465

 

(165)

 

15,972

 

 

 

 

Improving Health Policy Communication

 

17

 

22

 

-

 

1

 

(23)

 

-

 

 

 

 

Kellogg Health of the Public Fund

 

3,234

 

3,654

 

468

 

731

 

(146)

 

4,707

 

 

 

 

Kellogg Health of the Public Fund Matching Contributions

 

1,727

 

1,061

 

760

 

255

 

(6)

 

2,070

 

 

 

 

Richard and Hinda Rosenthal Lecture Series

 

1,000

 

1,320

 

-

 

247

 

(31)

 

1,536

 

 

 

 

Women’s Health Issues Fund

 

20

 

67

 

-

 

13

 

-

 

80

 

 

 

 

 

$

12,624

$

22,391

$

1,536

$

4,216

$

(510)

$

27,633

 

 

2. Prizes and Awards

 

 

 

a. NAS

 

 

 

 

American Psychological Association Science Directorate Fund

$

30

$

64

$

-

$

12

$

(6)

$

70

 

 

 

 

Henryk Arctowski Fund

 

96

 

2,925

 

-

 

553

 

(3)

 

3,475

 

 

 

 

Bache Fund

 

60

 

376

 

-

 

71

 

(19)

 

428

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

 

(Dollars in thousands)

ENDOWMENT AND TRUST INVESTMENT POOL

Capital Contributions as of Dec. 31, 2006

Market Value at Dec. 31, 2005

2006 Contributions

2006 Investment Income

2006 Expenditures & Transfers

Market Value at Dec. 31, 2006

 

 

 

 

Blaauw Fund

 

71

 

811

 

-

 

152

 

(38)

 

925

 

 

 

 

John J. Carty Fund

 

25

 

738

 

-

 

135

 

(37)

 

836

 

 

 

 

Comstock Fund

 

11

 

699

 

-

 

132

 

-

 

831

 

 

 

 

Draper Fund

 

6

 

300

 

-

 

56

 

(3)

 

353

 

 

 

 

Elliot Fund

 

8

 

165

 

-

 

31

 

-

 

196

 

 

 

 

Estes Award in Social and Behavioral Sciences

 

80

 

263

 

-

 

-

47

 

(26)

 

284

 

 

 

 

Gibbs Brothers Fund

 

24

 

265

 

-

 

50

 

-

 

315

 

 

 

 

Gibbs Fund

 

5

 

145

 

-

 

23

 

(34)

 

134

 

 

 

 

Ralph E. Gomory Award for the Application of Science

 

179

 

462

 

-

 

87

 

(2)

 

547

 

 

 

 

Gould Fund

 

50

 

674

 

-

 

126

 

(33)

 

767

 

 

 

 

Joseph Henry Fund

 

40

 

439

 

-

 

83

 

(22)

 

500

 

 

 

 

Alexander Hollaender Award in Biophysics

 

100

 

298

 

-

 

57

 

-

 

355

 

 

 

 

Hunsaker Fund

 

25

 

370

 

-

 

70

 

(2)

 

438

 

 

 

 

Franklin Livingston Hunt Fund

 

11

 

197

 

-

 

38

 

-

 

235

 

 

 

 

Kovalenko Fund

 

62

 

1,213

 

1

 

229

 

(1)

 

1,442

 

 

 

 

Marsh Fund

 

10

 

192

 

-

 

36

 

(9)

 

219

 

 

 

 

George P. Merrill Fund

 

10

 

601

 

-

 

113

 

(21)

 

693

 

 

 

 

Monsanto Award in Molecular Biology

 

421

 

1,044

 

-

 

192

 

(39)

 

1,197

 

 

 

 

Murray Fund

 

6

 

169

 

-

 

32

 

-

 

201

 

 

 

 

NAS Award for Chemistry in Service to Society

 

182

 

365

 

-

 

69

 

(5)

 

429

 

 

 

 

NAS Award in Mathematics

 

54

 

60

 

-

 

11

 

-

 

71

 

 

 

 

NAS Award in Chemical Sciences

 

478

 

529

 

-

 

97

 

(21)

 

605

 

 

 

 

NAS Award in Neurosciences

 

140

 

448

 

-

 

85

 

(1)

 

532

 

 

 

 

NAS Fund for Sciences and Technology in International Affairs

 

49

 

217

 

-

 

40

 

(4)

 

253

 

 

 

 

Pradel Fund

 

16

 

1,425

 

-

 

269

 

-

 

1,694

 

 

 

 

H. P. Robertson Lectureship Fund

 

20

 

248

 

-

 

46

 

(2)

 

292

 

 

 

 

Helen P. Smith Fund

 

67

 

585

 

-

 

107

 

(27)

 

665

 

 

 

 

Mrs. J. Lawrence Smith Fund

 

8

 

640

 

-

 

117

 

(31)

 

726

 

 

 

 

Thompson Fund

 

10

 

246

 

-

 

44

 

(20)

 

270

 

 

 

 

Troland Fund

 

505

 

4,062

 

-

 

753

 

(116)

 

4,699

 

 

 

 

Walcott Fund

 

5

 

81

 

-

 

16

 

-

 

97

 

 

 

 

G. K. Warren Fund

 

15

 

182

 

-

 

31

 

(14)

 

199

 

 

 

 

Watson Fund

 

25

 

1,231

 

-

 

233

 

-

 

1,464

 

 

 

 

 

$

2,904

$

22,729

$

1

$

4,243

$

(536)

$

26,437

 

 

 

b. IOM

 

 

 

 

Gustav O. Lienhard Award

$

1,200

$

3,740

$

-

$

702

$

(34)

$

4,408

 

 

 

 

Rhonda and Bernard G. Sarnat International Prize in Mental Health

 

1,009

 

1,330

-

 

249

 

(31)

 

1,548

 

 

 

 

 

$

2,209

$

5,070

$

-

$

951

$

(65)

$

5,956

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

 

(Dollars in thousands)

ENDOWMENT AND TRUST INVESTMENT POOL

Capital Contributions as of Dec. 31, 2006

Market Value at Dec. 31, 2005

2006 Contributions

2006 Investment Income

2006 Expenditures & Transfers

Market Value at Dec. 31, 2006

 

 

3. Woods Hole

 

 

 

Peter C. Cornell Trust Fund

$

100

$

254

$

-

$

47

$

(11)

$

290

 

 

 

J. Erik Jonsson Woods Hole Fund

 

2,002

 

4,395

 

-

 

810

 

(189)

 

5,016

 

 

 

Penzance Foundation Fund

 

503

 

1,104

 

-

 

203

 

(47)

 

1,260

 

 

 

Woods Hole Endowment Fund

 

971

 

1,271

 

-

 

234

 

(54)

 

1,451

 

 

 

Woods Hole Fund

 

13

 

39

 

-

 

7

 

(1)

 

45

 

 

 

Richard King Mellon Foundation Fund

 

50

 

186

 

-

 

34

 

(8)

 

212

 

 

 

 

 

$

3,639

$

7,249

$

-

$

1,335

$

(310)

$

8,274

 

 

4. PNAS

 

 

 

Billings Fund

$

50

$

770

$

-

$

146

$

-

$

916

 

 

 

 

 

$

50

$

770

$

-

$

146

$

-

$

916

II. Funds Functioning as Endowment

 

A. Unrestricted

 

 

National Academy of Sciences Reserve Fund

$

3,176

$

2,977

$

-

$

502

$

(438)

$

3,041

 

 

IOM Reserve Fund

 

500

 

742

 

-

 

141

 

-

 

883

 

 

TRB Reserve Fund

 

1,500

 

1,885

 

-

 

356

 

-

 

2,241

 

 

Due to (from) National Academy of Sciences

 

 

 

(144)

 

 

 

 

 

444

 

300

 

 

 

 

 

$

5,176

$

5,460

$

-

$

999

$

6

$

6,465

 

B. Restricted for a Specific Purpose

 

 

Henry G. Booker Fellowship Fund

$

21

$

50

$

-

$

10

$

-

$

60

 

 

Marian Koshland Science Museum Fund

 

22,786

 

25,015

 

-

 

4,492

 

(2,085)

 

27,422

 

 

Bruce Alberts Fund for the Marian Koshland Science Museum

 

5,195

 

5,788

 

-

 

1,088

 

(80)

 

6,796

 

 

National Science Resources Center Fund

 

4,479

 

4,812

 

500

 

978

 

(1)

 

6,289

 

 

Proceedings of the National Academy of Sciences Fund

 

1,000

 

4,188

 

-

 

594

 

(3,729)

 

1,053

 

 

Communications Initiative Fund

 

-

 

-

 

 

 

198

 

3,729

 

3,927

 

 

USNC/IAU

 

100

 

148

 

-

 

28

 

-

 

176

 

 

 

 

 

$

33,581

$

40,001

$

500

$

7,388

$

(2,166)

$

45,723

III. Funds Held on Behalf of Others

 

A. The National Academies' Corporation

 

 

Endowment Fund

$

-

$

20,399

$

-

$

1,194

$

(21,593)

$

-

 

 

Operations Endowment

 

8,000

 

-

 

-

 

1,041

 

8,479

 

9,520

 

 

Program Endowment

 

1,940

 

-

 

-

 

255

 

2,074

 

2,329

 

 

Capital Fund

 

-

 

2,185

 

-

 

129

 

(2,314)

 

-

 

 

Reserve for Program Expense

 

3,768

 

-

 

-

 

1,222

 

9,950

 

11,172

 

 

 

 

 

$

13,708

$

22,584

$

-

$

3,841

$

(3,404)

$

23,021

TOTAL

$

160,037

$

351,561

$

4,436

$

65,035

$

(15,476)

$

405,556

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

Endowment and Trust Investment Pool – Asset Allocation as of December 31, 2006

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

Endowment and Trust Investment Pool - Change in Valuation and Market Value Summary

Change in Valuation from 12/31/05 to 12/31/06

(Dollars in Thousands)

Market Value at 12/31/05

$

351,561

Realized Capital Gains

 

10,446

Unrealized Capital Gains

 

36,184

Reinvested Income

 

18,405

Contributions

 

4,436

Expenditures and Transfers

 

(15,476)

Market Value at 12/31/06

$

405,556

Holdings and Market Value Summary as of 12/31/06

U.S. Large Stocks

Berkshire Hathaway A

$

25,518

Berkshire Hathaway B

 

33

Biotech Index

 

2,296

Vanguard Index 500

 

32,983

Vanguard Windsor

 

32,224

Subtotal

$

93,054

U.S. Small - Mid Stocks

Tamarack Enterprise

$

10,752

Third Avenue Value

 

13,655

Vanguard Extended

 

11,765

Vanguard Small

 

9,260

Subtotal

$

45,432

Non - U.S. Developed

DWS International

$

6,545

Templeton Foreign

 

20,737

Vanguard European

 

16,761

Vanguard Pacific

 

10,592

Vanguard Intl. Growth

 

11,743

Vanguard Intl. Value

 

11,711

Subtotal

$

78,089

Non - U.S. Emerging

Capital International

$

19,482

Templeton Emerging

 

15,793

Morgan Stanley India

 

894

Subtotal

$

36,169

Fixed Income

Morgan Stanley

$

3,060

PIMCO Foreign Bond

 

4,980

PIMCO FDS

 

13,784

Price International

 

2,961

DWS Global Bond

 

2,540

Vanguard High Yield

 

5,061

Other

 

386

Subtotal

$

32,772

Real Estate

Dow Jones RE Index

$

8,737

Green Bldg Mortgages

 

1,124

Third Avenue RE Fund

 

7,865

Subtotal

$

17,726

Hedge Funds

Commonfund

$

11,430

GT Offshore

 

8,575

Ironwood

 

8,152

Princeton

 

18,316

Renaissance

 

22,724

Subtotal

$

69,197

Private Placements

$

13,598

Cash Equivalents

$

19,519

GRAND TOTAL

$

405,556

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×

This page intentionally left blank.

Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 7
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 8
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 9
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 10
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 11
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 12
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 13
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 14
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 15
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 16
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 17
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 18
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 19
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 20
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 21
Suggested Citation:"I. Investments." National Academy of Sciences. 2007. Report of the Treasurer to the Council for the Year Ended December 31, 2006. Washington, DC: The National Academies Press. doi: 10.17226/11958.
×
Page 22
Next: II. Private Contributions »
Report of the Treasurer to the Council for the Year Ended December 31, 2006 Get This Book
×
MyNAP members save 10% online.
Login or Register to save!
Download Free PDF
  1. ×

    Welcome to OpenBook!

    You're looking at OpenBook, NAP.edu's online reading room since 1999. Based on feedback from you, our users, we've made some improvements that make it easier than ever to read thousands of publications on our website.

    Do you want to take a quick tour of the OpenBook's features?

    No Thanks Take a Tour »
  2. ×

    Show this book's table of contents, where you can jump to any chapter by name.

    « Back Next »
  3. ×

    ...or use these buttons to go back to the previous chapter or skip to the next one.

    « Back Next »
  4. ×

    Jump up to the previous page or down to the next one. Also, you can type in a page number and press Enter to go directly to that page in the book.

    « Back Next »
  5. ×

    Switch between the Original Pages, where you can read the report as it appeared in print, and Text Pages for the web version, where you can highlight and search the text.

    « Back Next »
  6. ×

    To search the entire text of this book, type in your search term here and press Enter.

    « Back Next »
  7. ×

    Share a link to this book page on your preferred social network or via email.

    « Back Next »
  8. ×

    View our suggested citation for this chapter.

    « Back Next »
  9. ×

    Ready to take your reading offline? Click here to buy this book in print or download it as a free PDF, if available.

    « Back Next »
Stay Connected!