NATIONAL ACADEMY OF SCIENCES

Statements of Financial Position December 31, 2010 and 2009 (Dollars in thousands)

Assets

2010

2009

Current assets:

 

 

Cash and cash equivalents

$ 1,522

$ 1,387

Short-term investments (note 3)

56,777

49,113

Contracts receivable – U.S. government (note 12)

58,426

47,027

Contributions and other receivables, net (note 6)

12,922

14,565

Bond proceeds held with trustee (note 13)

47,216

-

Other current assets

5,828

4,627

Total current assets

182,691

116,719

Other assets (notes 2, 13, 15, and 17)

7,468

8,093

Long-term investments (note 3)

423,062

376,163

Contributions receivable, net (note 6)

22,235

28,191

Property and equipment, net (notes 5 and 16)

134,953

127,476

Einstein Memorial

1,723

1,723

Total assets

$ 772,132

$ 658,365

Liabilities and Net Assets

 

 

Liabilities:

 

 

Current liabilities:

 

 

Accounts payable and accrued expenses

$ 47,116

$ 42,064

Deferred revenue (notes 7 and 12)

28,007

32,080

Line of credit (note 8)

10,000

-

Other current liabilities (notes 13 and 14)

4,776

3,498

Total current liabilities

89,899

77,642

Bonds payable (note 13)

181,202

122,545

Funds held on behalf of others (note 3)

9,918

8,794

Note payable (note 14)

-

757

Accrued employee benefits (note 15)

4,618

4,603

Other long-term liabilities (notes 2, 13, and 16)

13,370

14,057

Total liabilities

299,007

228,398

Net assets:

 

 

Unrestricted

89,054

72,871

Temporarily restricted (note 9)

265,702

241,734

Permanently restricted (note 10)

118,369

115,362

Total net assets

473,125

429,967

Commitments and contingencies (notes 3, 12, 13, 15, 18, and 19)

 

 

Total liabilities and net assets

$ 772,132

$ 658,365

See accompanying notes to financial statements.



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NATIONAL ACADEMY OF SCIENCES Statements of Financial Position December 31, 2010 and 2009 (Dollars in thousands) Assets 2010 2009 Current assets: Cash and cash equivalents $ 1,522 $ 1,387 Short-term investments (note 3) 56,777 49,113 Contracts receivable – U.S. government (note 12) 58,426 47,027 Contributions and other receivables, net (note 6) 12,922 14,565 Bond proceeds held with trustee (note 13) 47,216 - Other current assets 5,828 4,627 Total current assets 182,691 116,719 Other assets (notes 2, 13, 15, and 17) 7,468 8,093 Long-term investments (note 3) 423,062 376,163 Contributions receivable, net (note 6) 22,235 28,191 Property and equipment, net (notes 5 and 16) 134,953 127,476 Einstein Memorial 1,723 1,723 Total assets $ 772,132 $ 658,365 Liabilities and Net Assets Liabilities: Current liabilities: Accounts payable and accrued expenses $ 47,116 $ 42,064 Deferred revenue (notes 7 and 12) 28,007 32,080 Line of credit (note 8) 10,000 - Other current liabilities (notes 13 and 14) 4,776 3,498 Total current liabilities 89,899 77,642 Bonds payable (note 13) 181,202 122,545 Funds held on behalf of others (note 3) 9,918 8,794 Note payable (note 14) - 757 Accrued employee benefits (note 15) 4,618 4,603 Other long-term liabilities (notes 2, 13, and 16) 13,370 14,057 Total liabilities 299,007 228,398 Net assets: Unrestricted 89,054 72,871 Temporarily restricted (note 9) 265,702 241,734 Permanently restricted (note 10) 118,369 115,362 Total net assets 473,125 429,967 Commitments and contingencies (notes 3, 12, 13, 15, 18, and 19) Total liabilities and net assets $ 772,132 $ 658,365 See accompanying notes to financial statements. 42