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OCR for page 7
I. Investments
OCR for page 8
SCHEDULE 1
J
Endowment and Trust Investment Funds - Description of Funds
for the Year Ended June 30, 1998
I. ENDOWMENT
A. Unrestricted
1. N4S
Agassiz Fund - Bequest of Alexander Agassiz, a member of the Academy.
Carnegie Fund - Balance of gift of $5,000,000 of 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.
Commonwealth Fund - A grant of the Commonwealth Fund for capital endowment of the
Academy.
Carl Eckart Fund - Bequest of Carl Eckart received for general purposes of the Academy.
Ford Foundation Fund - A grant of the Ford Foundation for capital endowment of the
Academy.
Henrietta and Alexander Hollaender Fund - A bequest to the Academy from Dr. Alexander
and Mrs. Henrietta Hollaender.
Grayce B. Kerr Fund - A grant from Grayce B. Kerr Fund for general purposes of the
Academy.
Nealley Fund - Bequest of George True Nealley for general purposes of the Academy.
Simon Ramo Fund - A gift from Simon Ramo for general purposes of the Academy.
Rockefeller Foundation Fund - A grant of The Rockefeller Foundation to the National
Academy of Sciences for general purposes.
Dorothea and Herbert Simon Fund - A gift from Dorothea and Herbert Simon for general
purposes of the Academy.
Sloan Foundation Endowment Fund - A grant of the Alfred P. Sloan Foundation for general
purposes of the Academy.
Amy Prudden Turner Fund - Bequest of Amy Prudden Turner for general purposes of the
Academy to serve as a memorial to her husband Scott and herself.
Anonymous Endowment Fund - A gift for general purposes of the Academy from a donor
who wishes to remain anonymous.
General Endowment Fund - Becuest of David LloYd Fillman and others for general Purposes
of the Academy. By action of the Council, the International Critical Tables were
transferred into this fund during fiscal 1976, and the proceeds from the sale of the
Audubon Folios were transferred in fiscal 1981.
Members Endowment Fund - Contributions from various members to be used for general
purposes of the Academy.
National Academy of Sciences Reserve Fund
Subtotal
For endowment contributions, the capital is typically restricted and the income is unrestricted.
8
Capital Contribution
Column 2 of Schedule 1A
Restricted Unrestricted
$ 50,000
3,275,000
500,000
5,000,000
250,000
19,556
14,000
202,320
1,000,000
7,146,660
2,375,375
$ 492,210
500,000
1,000,000
29,662
3,149,745
$19,832,911 $5,171,617
OCR for page 9
SCHEDULE 1
J
Endowment and Trust Investment Funds - Description of Funds
for the Year Ended June 30, 1998
2. IOM
General Endowment Fund - Contributions from various sources, including members of the
Institute of Medicine, for capital endowment of the IOM.
Robert Wood Johnson Foundation Fund - An endowment grant, the income from which is to
be used for core support of the Institute of Medicine.
IOM Reserve Funds
Henry J. Kaiser Family Foundation Fund - Contribution to an endowment fund to support
core activities of the Institute of Medicine. The grant indicates the foundation's view
that the Institute of Medicine is of great importance to the development of sound social
policy related to health. In 1989 this grant was amended by the Kaiser Family
Foundation to provide for transfer of $250,000 as a matching contribution to the
endowment contribution to the IOM's Food and Nutrition Board.
John D. and Catherine T. MacArthur Foundation Fund - A grant to be used exclusively as a
permanent endowment to the Institute of Medicine, the income from which is restricted
to the general purposes of the Institute.
Pharmaceutical Endowment Fund - Contributions of $250,000, over a period of 5 years,
from Glaxo, Inc., and $10,000 from Eli Lilly Company, the income from which is to be
used for general purposes of the Institute of Medicine.
Miscellaneous Private Sector - Contributions of Kaiser Permanente to be used for core
support requirements of the Institute of Medicine.
Subtotal
B. Restricted for Specific Purpose
1. Program
a. NAS
Arts in the Academy Fund - Contribution from various sources for sponsoring free cultural
programs of merit for local residents and for providing a platform for musicians and
artists.
Basic Science Fund - Earth Sciences - Contribution from an anonymous donor to match a
gift from the Palisades Geophysical Institution of New York. Together these contribu-
tions will be used to establish the Maurice Ewing and Planetary Sciences Fund of the
National Academy of Sciences.
Biology and Biotechnology Fund - Contributions from various individuals to be used for
studies and other activities that address emerging research and policy issues affecting
biology and biotechnology, especially cross-disciplinary aspects and those involving the
interface of science, technology, and commerce and used for dissemination and
outreach efforts that seek to inform policymakers about the findings of the results.
Blakeslee Fund - Bequest of Albert Francis Blakeslee, the income of which is to be used in
support of genetics research.
For endowment contributions, the capital is typically restricted and the income is unrestricted.
Capital Contribution
Column 2 of Schedule 1A
Restricted Unrestricted
$ 514,551
5,000,000
500,000
488,485
5,000,000
259,448
26,346
$11,788,830
$ 3,934
500,000
886,902
9
OCR for page 10
SCHEDULE 1
J
Endowment and Trust Investment Funds - Description of Funds
for the Year Ended Kline 30, 1998
Thomas Lincoln Casey Fund - Bequest of Thomas L. Casey as a memorial to his father,
Thomas Lincoln Casey, to be used in the advancement of engineering in all its
applications.
The Coca Cola Foundation Fund - A grant to be used for initiatives in precollege science and
mathematics education.
Arthur L. Day Fund - A bequest of Arthur L. Day, a member of the Academy, for the purpose
of advancing studies of the physics of the earth.
Cecil and Ida Green Fund - A gift from Cecil and Ida Green for general purposes of the
Academy.
Global Commons Project Fund
W. K. Kellogg Foundation Fund - A grant of the W. K. Kellogg Foundation for an
endowment in the areas of education, health, and agriculture. The income will be used
to fund studies and other activities within these communications and individuals, such
as enhancing the quality of U.S. education, assuring access to quality health care in an
era of rapidly rising costs, assessing the role of biotechnology in the future of
agriculture, and similar issues as they arise.
Kobelt Fund - Bequest of Nina I. Kobelt to be used for research scholarships for worthy
students.
Andrew W. Mellon Foundation Fund - A grant from the Andrew W. Mellon Foundation to
endow a program of Academy-initiated studies.
Postemployment Benefits
Frank Press Fund for Dissemination and Outreach - Established with contributions from
members of The Presidents' Circle of the NAS and IOM, the income from which is to
support a variety of dissemination and outreach activities that seek to share Academy
complex knowledge and resources with the policymaking community and the general
public.
Scientists and Engineers for the Future Fund - Contribution from an individual who wishes
to remain anonymous. The income from this fund is used for support of 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.
State Street Fund
Subtotal
b. NAS - Member Endowments
Anthropology Fund
Board on Chemical Sciences Fund
Board on Earth Sciences Fund
Board on Mathematical Sciences Fund
Board on Physical Sciences Fund
Board on Physics and Astronomy Fund
Committee on Human Rights Fund
Committee on International Security and Arms Control Fund
For endowment contributions, the capital is typically restricted and the income is unrestricted.
10
Capital Contribution
Column 2 of Schedule 1A
Restricted Unrestricted
$ 258,081
50,000
2,662,514
467,256
39,058
20,000,000
296,593
1,000,000
1,128,705
1,000,000
244,302
$899,179
$28,957,577 $899,179
250
31,250
2,025
1,300
450
100
89,007
23,800
OCR for page 11
SCHEDULE 1
J
Endowment and Trust Investment Funds - Description of Funds
for the Year Ended June 30, 1998
Committee on Life Sciences Fund
Embryology Fund
Environmental Studies Fund
Math and Science Education Endowment Fund
NAS Class I Fund
Section 14 Chemistry Discretionary Fund
The Family and Community Well-Being Fund
Abel Wolman Lecture Fund
Subtotal
c. IOM
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.
Food and Nutrition Board Fund - Grant of $250,000 to the IOM 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 to two
dollars from the earlier grant.
Food and Nutrition Board Corporations Fund - Contributions from Monsanto Company and
Nestle, USA, Inc., to provide support for FNB activities.
Food and Nutrition Board Members Fund - Contributions from various members to be used
for general purposes of the Food and Nutrition Board.
Howard Hughes Medical Institute Fund - Contribution for the exclusive use of the Institute
of Medicine to initiate and maintain a program of studies whose purpose is to foster the
translation of science into advances in health.
Women's Health Issues Fund - Contribution from Syntex (U.S.A.), Inc., to be used for
purposes related to women's health issues.
Subtotal
2. Prizes and Awards
a. NAS
American Psychological Association Science Directorate Fund - A gift from the APA to
conduct activities that will help inform the public of the knowledge base, value, and
importance of behavioral science research.
Applied Mathematics and Numerical Analysis Fund - Gift of the International Business
Machines Corporation to support the NAS Award in Applied Mathematics and
Numerical Analysis by an award of $5,000 approximately every 3 years. The fund
principal is not restricted.
For endowment contributions, the capital is typically restricted and the income is unrestricted.
Capital Contribution
Column 2 of Schedule 1A
Restricted Unrestricted
up
9,965
976
200
400
750
11,100
1,000
200
$ 172,773
$ 11,750
525,000
125,000
2,700
5,000,000
20,000
$5,684,450
$ 30,000
11
OCR for page 12
SCHEDULE 1
J
Endowment and Trust Investment Funds - Description of Funds
for the Year Ended Kline 30, 1998
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 on the ionosphere and terrestrial atmosphere.
B ache Fund - Bequest of Alexander Dallas Bache, a member of the Academy, to aid research
in physical and natural sciences.
Blaauw Fund - Bequest of Marianne Blaauw to establish the Edmond and Marianne Blaauw
Fund to support research in the field of ophthalmology.
John J. C arty Fund - Gift of the American Telephone and Telegraph Company in recognition
of the distinguished achievements of John J. C arty and as a lasting testimonial of the
love and esteem in which he was held by his many thousands of associates in the Bell
System, for a gold medal and award for noteworthy and distinguished accomplishments
in any field of science.
Comstock Fund - Gift of General Cyrus B. Comstock, a member of the Academy, to promote
research in electricity, magnetism, or radiant energy through the Comstock Prize to be
awarded for notable investigations.
Draper Fund - Gift of Mrs. Henry Draper in memory of her husband, a former member of the
Academy, to found the Henry Draper Medal to be awarded for notable investigations in
astronomical physics; the balance of income is applied to aid research in this science. 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.
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 Commission on Behavioral and Social Sciences and
Education.
Gibbs Brothers Fund - Gift of William Francis Gibbs and Frederic H. Gibbs to found the
Gibbs Brothers Medal for outstanding contributions in the field of naval architecture
and marine englneenng.
Gibbs Fund - Established by gift of Wolcott Gibbs, a member of the Academy, and increased
by a bequest of the late Morris Loeb in 1914 for the promotion of research in chemistry.
Ralph E. Gomory Award for the Application of Science - A grant from the International
Business Machines Corporation for an award to be given in honor of Ralph Gomory.
Gould Fund - Gift of Mrs. Alice B. ache Gould in memory of her father, a former member of
the Academy, for the promotion of research in astronomy, bequest of $20,000 from the
estate of Alice B. ache Gould received in 1954, and bequest of $10,000 from the estate of
Elizabeth Chandler Hockley in 1979.
Joseph Henry Fund - Contributions by Fairman Rogers, Joseph Patterson, George W. Childs,
and others as an expression of their respect and esteem for Joseph Henry, for the
establishment of a fund to assist meritorious investigators, especially in the direction of
original research.
Alexander Hollaender Award in Biophysics - A bequest of Alexander Hollaender, the income
Capital Contribution
Column 2 of Schedule 1A
Restricted Unrestricted
$ 95,736
60,000
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.
For endowment contributions, the capital is typically restricted and the income is unrestricted.
12
71,299
25,000
10,400
8,000
79,849
24,000
5,173
179,046
50,000
39,740
100,000
OCR for page 13
SCHEDULE 1
J
Endowment and Trust Investment Funds - Description of Funds
for the Year Ended Kline 30, 1998
Hunsaker Fund - Gift of Mr. and Mrs. J. C. Hunsaker to found an Academy award in the field
of aeronautical engineering.
Franklin Livingston Hunt Fund - Bequest of Franklin Livingston Hunt for aid to research in
physics, chemistry, and preventive medicine. A portion of the income may also be used
from time to time to provide a medal to be known as the Franklin Livingston Hunt
Medal for distinguished accomplishment in scientific research.
Kovalenko Fund - Gift of Michael S. Kovalenko, in memory of his wife, to found the Jessie
Stevenson Kovalenko Gold Medal for meritorious research in medical sciences. 44,086
Marsh Fund - Bequest of Othniel Charles Marsh, a member of the Academy, to promote
original research in the natural sciences.
George P. Merrill Fund - Gift of Mrs. George P. Merrill, the income from which is to be used
for studies of meteors, meteorites, and space.
Monsanto Award in Molecular Biology - A grant from the Monsanto Company for an award
to be given in recognition of contributions in the field of molecular biology.
Murray Fund - Gift of the late Sir John Murray to found the Alexander Agassiz Gold Medal
in honor of a former member and president of the Academy, to be awarded for original
contributions to the science of oceanography.
National Academy of Sciences Award for Chemistry in Service to Society - Established by
the E. I. duPont de Nemours & Company to recognize contributions to chemistry,
whether in fundamental science or its applications, that clearly satisfy a societal need.
Given in alternate years to chemists working in industry, academia, government, and
nonprofit organizations.
National Academy of Sciences _ard in Mathematics - Established by the American
Capital Contribution
Column 2 of Schedule 1A
Restricted Unrestricted
$ 24,750
10,465
Mathematical Society for a prize to be awarded every 4 years in mathematics.
National Academy of Sciences Award in Neuroscience - Established by the Fidia Research
Foundation for an award in neuroscience to be given every 3 years.
National Academy of Sciences Fund for Sciences and Technology in International Affairs -
Contributions from Cecil and Ida Green, J. Erik Jonsson, Jerome B. Wiesner, and
Academy sources to establish the National Academy of Sciences Fund for Sciences and
Technology in International Affairs in honor of Walter A. Rosenblith.
Pradel Fund - A bequest of Jules Pradel to be applied to work on the human central nervous
system and allied subjects.
H. P. Robertson Lectureship Fund - Contributions by friends of H. P. Robertson, foreign
secretary of the Academy, to establish a lectureship under which distinguished scientists
would be invited from anywhere in the world to present lectures to be known as the
Robertson Memorial Lecture of the National Academy of Sciences.
Helen P. Smith Fund - A bequest of Helen P. Smith in memory of her husband, Gilbert
Morgan Smith, to establish a biannual medal and honorarium to be conferred in
recognition of published research in marine and freshwater algae.
Mrs. J. Lawrence Smith Fund - Gift of Mrs. J. Lawrence Smith in memory of her husband, a
former member of the Academy, to found the J. Lawrence Smith Gold Medal to be
awarded for important investigations of meteoric bodies and to assist, by grants of
money, research concerning such objects.
Thompson Fund - Gift of Mrs. Mary Clark Thompson for a gold medal of appropriate
design, to be known as the Mary Clark Thompson Gold Medal, to be awarded for
important services to geology and paleontology.
For endowment contributions, the capital is typically restricted and the income is unrestricted.
10,000
10,000
421,374
6,000
181,838
140,206
49,119
16,392
20,325
67,107
8,000
10,000
1 ~
OCR for page 14
SCHEDULE 1
J
Endowment and Trust Investment Funds - Description of Funds
for the Year Ended June 30, 1998
Troland Fund - Bequest of Leonard T. Troland to be known as the Troland Foundation for
Research in Psychophysics. The income is to be expended with a view to the actual
advancement of scientific knowledge in the field of psychophysics.
Waksman Fund - Gift of the Foundation for Microbiology for an award of $5,000 every 2
years to be known as the Selman A. Waksman Award in Microbiology. The contribu-
tions from the Foundation may be fully expended for the intended purpose.
Walcott Fund - Gift of Mrs. Mary Vaux Walcott in honor of her husband, a former member
and president of the Academy, for the award of medals and honoraria to persons, the
results of whose published research, explorations, and discoveries in pre-Cambrian or
Cambrian life and history shall be judged most meritorious; the award is to be known as
the Charles Doolittle Walcott Medal.
G. K. Warren Fund - Gift of Emily B. Warren in memory of her father, a member of the
Academy, the income from which is to be used for an award to be known as the G. K.
Warren Prize in any field of science.
Watson Fund - Bequest of James Craig Watson, a member of the Academy, for the
promotion of astronomical sciences through the award of the Watson Gold Medal and
grants of money in aid of research.
Subtotal
b. IOM
Gustav O. Lienhard Award - Initially established by an annual grant award in 1986, the
Robert Wood Johnson Foundation in 1991 approved a grant for endowment of the
Gustav O. Lienhard Award to be given annually in recognition of an outstanding
contribution to the advancement of health care.
Rhoda and Bernard G. Sarnat International Prize in Mental Health - A grant from Rhoda and
Bernard G. Sarnat for the purpose of honoring an individual, group, or organization for
distinguished accomplishments in the field of mental health.
Subtotal
3. The National Academies Corporation (TNAC) - An endowment from The Arnold and
Mabel Beckman Foundation for operating and program uses. The Beckman endowment
is invested by NAS on behalf of TNAC.
Subtotal
4. Woods Hole
Peter C. Cornell Trust Fund - To memorialize Detlev W. Bronk, a former member and
president of the Academy, for his contributions to science and the nation and to
Capital Contribution
Column 2 of Schedule 1A
Restricted Unrestricted
$ 505,359
5,000
15,000
25,000
$ 2,354,264
$ 1,200,000
1,009,179
$ 2,209,179
$11,677,491
$11,677,491
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
For endowment contributions, the capital is typically restricted and the income is unrestricted.
14
OCR for page 15
SCHEDULE 1
J
Endowment and Trust Investment Funds - Description of Funds
for the Year Ended June 30, 1998
J. Enk Jonsson Woods Hole Fund - A gift for the Woods Hole Study Center of the NAS in
honor of J. Enk Jonsson, one of the founders of Texas Instruments and a former mayor
of Dallas. The donor wishes to remain anonymous.
Penzance Foundation Fund - A grant for the J. Enk Jonsson Woods Hole Study Center,
especially for support of the property's Clark Carnage House.
Woods Hole Endowment - Contnbutions from the Brown Foundation and venous individu-
als for maintenance of the Woods Hole Study Center.
Woods Hole Fund - Contnbutions from venous individuals for maintenance of the Woods
Hole Study Center.
Richard King Mellon Foundation Fund - Grant from the Richard King Mellon Foundation
for maintenance of the building and grounds at the Woods Hole Study Center.
Subtotal
5. PANS
Billings Fund - Bequest of Mrs. Mary Ann Palmer Draper (Mrs. Henry Draper) to support
the publication of the Proceedings of the National Academy of Sciences or for other
purposes to be determined by the Academy.
Subtotal
II. FUNDS FUNCTIONING AS ENDOWMENT
A. NAS - Prizes and Awards
Henry G. Booker Fellowship Fund - Contnbutions from venous 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.
Subtotal
B. PEAS
Proceedings of the National Academy of Sciences Fund
Subtotal
C. TNAC Capital Fund
Subtotal
For endowment contributions, the capital is typically restricted and the income is unrestricted.
Capital Contribution
Column 2 of Schedule 1A
Restricted Unrestricted
$2,002,500
502,500
819,691
12,874
50,000
$3,487,565
$ 50,102
$ 50,102
$ 15,826
$ 15,826
$1,000,000
$1,000,000
$1,249,294
$1,249,294
15
OCR for page 16
SCHEDULE 1
J
Endowment and Trust Investment Funds - Description of Funds
for the Year Ended June 30, 1998
III. RES TRI CTED CONTRIB UTI ONS
A. NAS
1. Program
Basic Science Fund - Various - Contributions from American Telephone and Telegraph
Corporation, Atlantic Richfield Foundation, Dow Chemical Corporation, E. I. duPont
de Nemours and Company, International Business Machines Corporation, Merck and
Company, Monsanto Company, Shell Oil Companies Foundation, and Standard Oil
Company to support studies designed to strengthen the basic natural sciences - physics,
chemistry, mathematics, and biology.
Slipher Fund - Bequest of V. M. Slipher, a member of the Academy, to be used as determined
by the Academy. The bequest principal is managed by Valley National Bank, Phoenix,
Arizona, which makes periodic income distributions to the Academy. Income distribu-
tions may be fully disbursed by the Academy in the year of receipt.
2. Prizes and Awards
Levison Memorial Fund - Contributions from various sources established by the Council of
the National Academy of Sciences to encourage staff development, training, and
commitment within the Commission on Behavioral and Social Sciences and Education
(CBASSE). Funds will be made available on a case-by-case basis as supplemental
support for development activities. A prize may be awarded to CBASSE staff who exert
notable and unusual effort toward improving the quality of working life at CBASSE.
Richard Lounsbery Foundation Award - An annual award of $50,000 established by Mrs.
Vera Lounsbery in memory of her husband, Richard Lounsbery, given in alternate years
to a young French or American researcher in biology or medicine. The laureate is
selected by a jury composed of members of the Academies of Science of the United
States of America and France. It was Mrs. Lounsbery's desire to encourage reciprocal
scientific exchanges between the two countries and to stimulate research contributing to
the biological understanding of man and to the improvement and welfare of mankind.
The recipient is given a 3-year option on an additional $20,000, which may be used to
pursue research in the opposite country.
National Academy of Sciences Award for Initiatives in Research - Established by Bell
Telephone Laboratories in honor of William O. Baker to recognize innovative young
scientists and encourage research likely to lead toward new capabilities for human
benefit. These annual contributions may be fully disbursed in the year of the award.
National Academy of Sciences Award in Chemical Sciences - Established by the Occidental
Petroleum Corporation in honor of Armand Hammer, these annual contributions may be
fully expended for the intended purpose.
For endowment contributions, the capital is typically restricted and the income is unrestricted.
16
Capital Contribution
Column 2 of Schedule 1A
Restricted Unrestricted
OCR for page 17
SCHEDULE 1
J
Endowment and Trust Investment Funds - Description of Funds
for the Year Ended Kline 30, 1998
National Academy of Sciences Award in Scientific Reviewing - Funds contributed by Annual
Reviews, Inc., and the Institute for Scientific Information in honor of James Murray Luck,
for an award to be given in recognition of and to pay tribute to authors who have
performed significant service to science and their fellow scientists in the writing of
outstanding scientific reviews. These annual contributions may be fully disbursed in the
year of award.
National Academy of Sciences Support Staff Award - Contributions from various sources for
annual awards for outstanding members of the National Research Council's administrative
staff. These contributions may be fully disbursed in the year of the award.
Grand Total
Capital Contribution
Column 2 of Schedule 1A
Restricted Unrestricted
$88,480,262 $6,070,796
Notes: Items that have a " " in the Capital Contribution column are those with no contribution this year but that have activity in the investment pool. In
most cases there is short-term investment activity.
For endowment contributions, the capital is typically restricted and the income is unrestricted.
17
OCR for page 18
SCHEDULE 1-A
Endowment and Trust Investment Funds - Financial Detail
of Funds from Inception for the Year Ended June 30, 1998
($ in thousands)
ENDOWMENT AND TRUST INVESTMENT POOL
Number of Cumulative
Participating Reinvestment Cumulative Total Cash and Equity Values
Capital Capital of Earned Realized Pooled Accrued June 30, June 30,
Units Contribution Income Gains Investments Income 1998 1998
Fund Market
A. Endowment
1. Unrestricted
NAS
Agassiz Fund628.43$ 50$ 56$ 252$ 358$ 98$ 456$ 554
Carnegie Fund42,528.143,2754,30217,27024,84735425,20137,516
Commonwealth Fund2,450.445002488341,582131,5952,162
Carl Eckart Fund1,902.564921535641,2091391,3481,678
Ford Foundation Fund24,621.265,0002,4998,39215,8915415,94521,720
Henrietta and Alexander
Hollaender Fund1,074.54500621407026708948
Grayce B. Kerr Fund501.612503165346(2)344442
National Academy of Sciences
Reserve Fund110.87 39327117298
Nealley Fund243.122026951411142214
Simon Ramo Fund35.1614362312431
Rockefeller Foundation Fund5,057.641,0005131,7323,245113,2564,462
Dorothea and Herbert Simon
Fund556.072022114036310373491
Sloan Foundation Fund5,059.611,0005141,7313,245113,2564,463
Amy Prudden Turner Fund139.5730 54841296123
Anonymous Endowment Fund15,741.697,1471,0712,25410,472(243)10,22913,886
General Endowment Fund9,233.613,1507232,0115,884195,9038,145
Members Endowment Fund4,895.302,3753356243,33483,3424,320
114,779.62 $25,005 $10,596 $36,196 $ 71,797 $493 $ 72,290 $101,253
h IOM
General Endowment Fund 1,217.20 $ 515 $ 206 $ 163 $ 884 ($ 35) $ 849 $ 1,074
Robert Wood Johnson Foundation
Fund 13,168.37 5,001 1,492 2,075 8,568 (311) 8,257 11,616
IOM Reserve Fund 576.21 500 500 500 508
Henry J. Kaiser Family Foundation
Fund 1,037.64 488 71 124 683 (26) 657 915
John D. and Catherine T. MacArthur
Foundation Fund 12,996.26 5,000 1,404 2,170 8,574 (307) 8,267 11,465
Pharmaceutical Endowment Fund 587.93 259 70 71 400 (20) 380 519
Miscellaneous - Private-Sector Fund 69.72 26 13 9 48 (3) 45 62
29,653.33 $11,789 $ 3,256 $ 4,612 $ 19,657 ($702) $ 18,955 $ 26,159
2. Restricted for Specific Purpose
a. Program
i. NAS - Outside Sources
Arts in the Academy Fund 10.68 $ 4 $ 2 $ 1 $ 7 $ 1 $ 8 $ 9
Basic Science Fund Earth
Sciences 1,063.41 500 106 146 752 3 755 938
Biology and Biotechnology
Fund 932.74 420 53 111 584 2 586 823
Blakeslee Fund 2,569.46 887 207 591 1,685 6 1,691 2,267
Thomas Lincoln Casey Fund 6,579.94 258 1,593 2,259 4,110 16 4,126 5,804
Coca Cola Foundation
Endowment Fund 113.63 50 9 15 74 74 100
Arthur L. Day Fund 15,715.48 2,663 2,937 4,080 9,680 27 9,707 13,863
Cecil and Ida Green Fund 1,486.63 467 105 399 971 6 977 1,311
Fund equity includes cumulative realized and unrealized gains and income.
18
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SCHEDULE 1-A
Endowment and Trust Investment Funds - Financial Detail
of Funds from Inception for the Year Ended Kline 30, 1998
($ in thousands)
ENDOWMENT AND TRUST INVESTMENT POOL
Number of Cumulative
Participating Reinvestment Cumulative Total Cash and Equity Values
Capital Capital of Earned Realized Pooled Accrued June 30, June 30,
Units Contribution Income Gains Investments Income 1998 1998
Fund Market
Global Commons Project Fund100.12$ 39$ 17$ 12$ 68$ 2$ 70$ 88
Houston Advanced Research
Center 9 9110
W. K. Kellogg Foundation
Fund42,572.4220,0002,2125,62727,8395227,89137,555
Kobelt Fund2,020.272973206611,27851,2831,782
Andrew W. Mellon Foundation
Fund2,342.091,0001903171,50761,5132,066
Postemployment Benefits1,533.058991671601,2261341,3601,352
Frank Press Fund for
Dissemination and Outreach2,152.581,1291502571,536581,5941,899
Scientists and Engineers for
the Future Fund2,603.681,0001763131,489(9)1,4802,299
State Street Fund 244 244 244
81,796.18 $29,857 $ 8,253 $14,949 $ 53,059 $310 $ 53,369 $ 72,156
ii. NAS - Members Endowment(s)
Anthropology Fund 0.53 $ $ $ $ $ $ $
Board on Chemical Sciences
Fund 100.48 31 24 13 68 6889
Board on Earth Sciences Fund 6.14 2 2 1 5 55
Board on Mathematical Sciences
Fund 3.56 2 1 3 33
Board on Physical Sciences Fund 0.88 1 1 11
Board on Physics and Astronomy
Fund 0.21
Committee on Human Rights
Fund 183.97 88 28 20 136 3139164
Committee on International
Security and Arms
Control Fund 69.31 24 15 9 48 4861
Committee on Life Sciences
Fund 25.23 10 4 3 17 1722
Embryology Fund 2.57 1 1 2 22
Environmental Studies Fund 0.44
Math and Science Education
Endowment Fund 0.74 1 1 11
NAS Class I Fund 2.25 1 1 2 22
Section 14 Chemistry
Discretionary Fund 32.85 11 7 4 22 2229
The Family and Community
Well-Being Fund 2.82 1 1 2 22
Abel Wolman Lecture Fund 0.22
432.20 $ 173 $ 84 $ 50 $ 307 $ 3 $ 310 $ 381
''. IOM
Distinguished Scholar Fund 38.18 $ 12
Food and Nutrition Board 1,516.43 525
Food and Nutrition Board
Corporations Fund
Food and Nutrition Board
Members Fund
Fund equity includes cumulative realized and unrealized gains and income.
$ 11$ 5$ 28 ($ 1)$ 27 $ 34
3021901,017 61,023 1,338
405.65 125
102 49 276
12.40 3 5 1 9
276 358
0 11
19
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SCHEDULE 1-A
Endowment and Trust Investment Funds - Financial Detail
of Funds from Inception for the Year Ended :lune 30, 1998
Number of
Participating
Capital Capital
Units Contribution
($ in thousands)
ENDOWMENT AND TRUST INVESTMENT POOL
Cumulative Fund Market
Reinvestment Cumulative Total Cash and Equity Values
of Earned Realized Pooled Accrued June 30, June 30,
Income Gains Investments Income 1998 1998
Howard Hughes Medical
Institute Fund12,360.48$ 5,000$ 1,684$ 1,788$ 8,472($ 22)$ 8,450 $ 10,904
Women's HealthIssues Fund47.56209635(1)34 42
14,380.70$ 5,685$ 2,113$ 2,039$ 9,837($ 17)$ 9,820 $ 12,687
b. Prizes and Awards
NAS
American Psychological
Association Science
Directorate Fund51.50$ 30$ 5$ 6$ 41$ $ 41$ 45
Applied Mathematics and
NumericalAnalysis Fund 29 2929
Henryk Arctowski Fund2,476.25968696591,6241,6242,184
Bache Fund 428.79 61 18 178 257 1258 378
Blaauw Fund 873.79 72 160 301 533 (3)530 771
John J. Carty Fund 673.30 25 212 206 443 3446 594
Comstock Fund 598.31 10 208 155 373 1374 528
Draper Fund 253.88 6 81 84 171 1172 224
Elliot Fund 163.91 8 45 51 104 1105 145
Estes Award in Social and
Behavioral Sciences 237.03 80 49 36 165 1166 209
Gibbs Brothers Fund 264.60 24 62 82 168 2170 233
Gibbs Fund 149.87 5 33 57 95 5100 132
Ralph E. Gomory Award for
the Application of Science 421.11 179 49 55 283 (2)281 371
Gould Fund 717.54 50 115 272 437 (3)434 633
Joseph Henry Fund 487.35 40 19 223 282 9291 430
Alexander Hollaender Award
in Biophysics 270.53 100 45 36 181 181 239
Hunsaker Fund 309.52 25 94 90 209 209 273
Hunt Fund 144.82 10 59 31 100 100 128
Kovalenko Fund 966.16 44 300 283 627 1628 852
Marsh Fund 215.29 10 18 95 123 1124 190
George P. Merrill Fund 79.03 10 13 27 50 (3)47 70
Monsanto Award in Molecular
Biology 1,001.19 421 65 161 647 19666 883
Murray Fund 191.75 6 72 42 120 (26)94 169
NAS Award for Chemistry in
Service to Society 370.96 182 21 43 246 4250 327
NAS Award in Mathematics 53 53 53
NAS Award in Neurosciences 380.42 140 70 53 263 263 336
NAS Fund for Sciences and
Technology in International
Affairs 177.93 49 53 24 126 126 157
Pradel Fund 601.86 16 258 132 406 1407 531
H. P. Robertson Lectureship
Fund 226.45 20 62 67 149 1150 200
Helen P. Smith Fund 489.46 67 123 134 324 324 432
Mrs. J. Lawrence Smith Fund 541.21 8 182 163 353 353 477
Thompson Fund 226.47 10 56 80 146 146 200
Troland Fund 3,400.55 505 1,053 1,082 2,640 2,640 3,000
Waksman Award
Walcott Fund 75.88 5 9 29 43 43 67
Fund equity includes cumulative realized and unrealized gains and income.
20
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SCHEDULE 1-A
Endowment and Trust Investment Funds - Financial Detail
of Funds from Inception for the Year Ended Kline 30, 1998
($ in thousands)
ENDOWMENT AND TRUST INVESTMENT POOL
Number of Cumulative FundMarket
Participating Reinvestment CumulativeTotalCash and EquityValues
CapitalCapitalof EarnedRealized Pooled Accrued June 30, June 30,
Units Contribution Income Gains Investments Income 1998 1998
149.01 $ 15 $ 38 $ 47 $ 100$ $ 100 $ 131
1,011.55 25 358 275 658658 893
18,627.27 $ 2,354 $ 4,956 $ 5,259 $ 12,569 $ 14 $ 12,583 $ 16,432
ii. IOM
Gustav O. Lienhard Award 2,963.98 $ 1,200 $ 395 $ 365 $ 1,960 $ $ 1,960 $ 2,614
Rhonda and Bernard G. Sarnat
International Prize in Mental
Health 1,312.41 1,009 52 68 1,129 50 1,179 1,158
4,276.39 $ 2,209 $ 447 $ 433 $ 3,089 $ 50 $ 3,139 $ 3,772
c. The National Academies'
Corporation 21,061.85 $11,677 $ 643 $ 2,522 $ 14,842 $ 1 $ 14,843 $ 18,579
21,061.85 $11,677 $ 643 $ 2,522 $ 14,842 $ 1 $ 14,843 $ 18,579
d. Woods Hole
Peter C. Cornell Fund 268.20 $ 99 $ 25 $ 58 $ 182 $ $ 182 $ 237
Erik Jonsson Woods Hole Fund 4,671.13 2,003 563 587 3,153 3,153 4,121
Richard King Mellon Foundation
Fund 206.80 50 53 38 141 141 182
Penzance Foundation Fund 1,169.49 503 143 147 793 793 1,032
Woods Hole Endowment Fund 1,207.51 820 65 109 994 994 1,065
Woods Hole Fund 43.37 13 9 7 29 29 38
7,566.50 $ 3,488 $ 858 $ 946 $ 5,292 $ $ 5,292 $ 6,675
$ 159 $ 380 $ $
$ 159 $ 380 $ $
e. PNAS
Billings Fund 590.02 $ 50 $ 171
590.02 $ 50 $ 171
159 $ 380
159 $ 380
do
up
1 ~
up
520
520
B. Funds Functioning as Endowment
1. NAS - Prizes and Awards
Henry G. Booker Fellowship Fund31.69$ 16$ 4$ 3$ 23$ $ 23$ 28
2. Proceedings of the National Academy
of Sciences Fund3,088.231,0005095452,0542,0542,724
3. The National Academies' Corporation
Capital Fund2,071.241,249852271,5611,5611,827
5,191.16 $ 2,265 $ 598 $ 775 $ 3,638 $ $ 3,638 $ 4,579
C. Restricted Contributions
1. NAS
a. Program
Basic Science Fund - Various
Slipher Fund
b. Prizes and Awards
Levison Memorial Fund
NAS Support Staff Award
TOTAL
Fund equity includes cumulative realized and unrealized gains and income.
1
99
99
$ $ 104 $ $ 104 $ $ 104 $
298,355.22 $94,552 $32,079 $67,940 $194,571 $152 $194,723 $263,193
21
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SCHEDULE 1-B
Endowment and Trust Investment Funds - Financial Detail
of Funds for Current Fiscal Year
($ in thousands)
ENDOWMENT AND TRUST INVESTMENT POOL
Fund Fund
Equity ExpendituresEquity
June 30, IncomeCapitalandJune 30,
1997ContributionsEarnedGainsTransfers1998
A. Endowment
1. Unrestricted
a. NAS
Agassiz Fund $ 296 $ $ 123 $ 57 ($ 20)
Carnegie Fund 20,290 2,120 4,125 (1,334)
Commonwealth Fund 1,323 126 222 (76)
Carl Eckart Fund 1,008 13 95 171 61
Ford Foundation Fund 13,248 1,239 2,230 (772)
Henrietta and Alexander Hollaender Fund 591 52 99 (34)
Grayce B. Kerr Fund 288 25 47 (16)
National Academy of Sciences Reserve Fund 1,060 5 10 (1,003)
Nealley Fund 116 15 19 (8)
Simon Ramo Fund 20 2 3 (1)
Rockefeller Foundation Fund 2,702 255 458 (159)
Dorothea and Herbert Simon Fund 302 11 27 50 (17)
Sloan Foundation Fund 2,702 255 458 (159)
Amy Prudden Turner Fund 81 7 12 (4)
Anonymous Endowment Fund 8,505 792 1,426 (494)
General Endowment Fund 4,892 465 835 (289)
Members Endowment Fund 2,628 197 238 427 (148)
$ 60,052 $ 221 $ 5,841 $10,649 ($ 4,473) $ 72,290
b. IOM
General Endowment Fund $ 706 $ 38 $ 60 $ 109 ($64) $ 849
Robert Wood Johnson Foundation Fund 7,192 666 1,209 (810) 8,257
IOM Reserve Fund 500 500
Henry J. Kaiser Family Foundation Fund 575 52 95 (65) 657
John D. and Catherine T. MacArthur
Foundation Fund 7,215 657 1,193 (798) 8,267
Pharmaceutical Endowment Fund 331 30 54 (35) 380
Miscellaneous - Private-Sector Fund 40 3 6 (4) 45
$ 16,059 $ 38 $ 1,468 $ 2,666 ($ 1,276) $ 18,955
2. Restricted for Specific Purpose
a. Program
i. NAS - Outside Sources
Arts in the academy Fund $ 6 $ $ 1 $ 1$ $ 8
Basic Science Fund Earth-Sciences 607 53 95755
Biology end Biotechnology Fund 486 46 83 (29) 586
Blakeslee Fund 1,417 132 234 (92) 1,691
Thomas Lincoln Casey Fund 3,421 326 587 (208) 4,126
Coca Cola Foundation Endowment Fund 62 6 10 (4) 74
Arthur L. Day Fund 8,025 778 1,401 (497) 9,707
Cecil and Ida Green Fund 816 75 133 (47) 977
Global Commons Project Fund 55 6 9 70
Houston Advanced Research Center 8 25 1 (24) 10
W. K. Kellogg Foundation Fund 23,360 2,067 3,795 (1,331) 27,891
Kobelt Fund 1,067 100 180 (64) 1,283
Andrew W. Mellon Foundation Fund 1,259 116 209 (71) 1,513
Postemployment Benefits 914 240 74 132 1,360
22
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SCHEDULE 1-B
Endowment and Trust Investment Funds - Financial Detail
of Funds for Current Fiscal Year
($ in thousands)
ENDOWMENT AND TRUST INVESTMENT POOL
Fund Fund
Equity Expenditures Equity
June 30, IncomeCapital and June 30,
1997ContributionsEarnedGains Transfers 1998
Postretirement Benefits $ 2,263 $ 308 $ 146 $ 372 ($3,089) $
Frank Press Fund for Dissemination and
Outreach 1,339 20 106 191 (62) $ 1,594
Scientists and Engineers for the Future
Fund 1,160 169 232 (81) 1,480
State Street Fund 224 20 244
$ 46,489 $ 613 $ 4,202 $ 7,664 ($ 5,599) $ 53,369
ii. NAS - Members Endowment (s)
Board on Chemical Sciences Fund $ 53 $ $ 5 $ 10$ $ 68
Board on Earth Sciences Fund 3 25
Board on Mathematical Sciences Fund 2 13
Board on Physical Sciences Fund 1 1
Committee on Human Rights Fund 87 27 9 16 139
Committee on International Security and
Arms Control Fund 38 3 7 48
Committee on Life Sciences Fund 14 1 2 17
Embryology Fund 2 2
Math and Science Education Endowment
Fund 1 1
NAS Class I Fund 2 2
Section 14 Chemistry Discretionary Fund 18 3 1 22
The Family and Community Well-Being
Fund 2 2
$ 223 $ 27 $ 21 $ 39 $ $ 310
iii. IOM
Distinguished Scholar Fund $ 21 $ $ 2 $ 4 $ $ 27
Food and Nutrition Board 829 77 137 (20)1,023
Food and Nutrition Board Corporations
Fund 220 20 36 276
Food and Nutrition Board Members Fund 7 1 1 1 10
Howard Hughes Medical Institute Fund 6,782 615 1,107 (54)8,450
Women's HealthIssues Fund 28 2 4 34
$ 7,887 $ 1 $ 717 $ 1,289 ($74)$ 9,820
b. Prizes and Awards
i. NAS
American Psychological Association
Science Directorate Fund $ 34 $ $ 3 $ 5 ($ 1) $ 41
Applied Mathematics and Numerical
Analysis Fund 27 2 29
Henryk Arctowski Fund 1,280 123 221 1,624
B ache Fund 216 22 40 (20) 258
Blaauw Fund 444 45 82 (41) 530
John J. Carty Fund 353 33 60 446
Comstock Fund 291 30 53 374
Draper Fund 136 13 23 172
23
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SCHEDULE 1-B
Endowment and Trust Investment Funds - Financial Detail
of Funds for Current Fiscal Year
($ in thousands)
ENDOWMENT AND TRUST INVESTMENT POOL
Fund Fund
Equity Expenditures Equity
June 30, IncomeCapital and June 30,
1997ContributionsEarnedGains Transfers 1998
Elliot Fund $ 82 $ $ 8 $ 15$ $ 105
Estes Award in Social and Behavioral
Sciences 133 12 21166
Gibbs Brothers Fund 133 13 24170
Gibbs Fund 85 8 14 (7) 100
Ralph E. Gomory Award for the
Application of Science 222 21 38 281
Gould Fund 364 37 67 (34) 434
Joseph Henry Fund 243 25 46 (23) 291
Alexander Hollaender Award in
Biophysics 160 14 26 (19) 181
Hunsaker Fund 166 15 28 209
Hunt Fund 81 7 12 100
Kovalenko Fund 522 49 89 (32) 628
Marsh Fund 103 11 20 (10) 124
George P. Merrill Fund 40 4 7 (4) 47
Monsanto Award in Molecular Biology 549 51 91 (25) 666
Murray Fund 81 10 18 (15) 94
NAS Award for Chemistry in Service to
Society 200 18 33 (1) 250
NAS Award in Mathematics 50 3 53
NAS Award in Neurosciences 212 20 36 (5) 263
NAS Fund for Sciences and Technology
in International Affairs 100 9 17 126
Pradel Fund 325 30 52 407
H. P. Robertson Lectureship Fund 120 10 20 150
Helen P. Smith Fund 257 24 44 (1) 324
Mrs. J. Lawrence Smith Fund 281 34 48 (10) 353
Thompson Fund 124 11 11 146
Troland Fund 2,233 172 310 (75) 2,640
Waksman Award 7 (7)
Walcott Fund 39 4 9 (9) 43
G. K. Warren Fund 89 8 15 (12) 100
Watson Fund 538 51 88 (19) 658
$ 10,313 $ 7 $ 950 $ 1,683 ($ 370)
ii. IOM
Gustav O. Lienhard Award$ 1,531 $ $ 147$ 264$ 18 $ 1,960
Rhonda and Bernard G. Sarnat
International Prize in Mental Health25 1,00959 6818
$ 1,556 $1,009$ 206 $ 332$ 36
24
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SCHEDULE 1-B
Endowment and Trust Investment Funds - Financial Detail
of Funds for Current Fiscal Year
($ in thousands)
ENDOWMENT AND TRUST INVESTMENT POOL
Fund Fund
Equity ExpendituresEquity
June 30, IncomeCapital andJune 30,
1997ContributionsEarnedGains Transfers1998
c. The National Academies' Corporation $ 12,594$ $ 1,063 $ 1,883 ($697) $ 14,843
$ 12,594 $ $ 1,063 $ 1,883 ($697) $ 14,843
d. Woods Hole
Peter C. Cornell Fund $154$ $ 13 $ 24 ($9) $ 182
Erik Jonsson Woods Hole Fund 2,657235 401 (140) 3,153
Richard King Mellon Foundation Fund 11911 19 (8) 141
Penzance Foundation Fund 66759 102 (35) 793
Woods Hole Endowment Fund 745 78 56 115 994
Woods Hole Fund 26 2 3 (2) 29
$ 4,368 $ 78 $ 376 $ 664 ($ 194) $ 5,292
e. PNAS
Billings Fund $ 301 $ $ 29 $ 50 $ $ 380
$ 301 $ $ 29 $ 50 $ $ 380
B. Funds Functioning as Endowment
1. NAS - Prizes and Awards
Henry G. Booker Fellowship Fund $ 19 $ $ 2 $ 2 $ $ 23
2. PNAS
Proceedings of the National Academy of
Sciences Fund
1,912 155
265 (278) 2,054
3. TNAC
TNAC Capital Fund1,22710791181 (45)1,561
$ 3,158$ 107$ 248$ 448 ($ 323)$ 3,638
C. Restricted Contributions
1. NAS
a. Program
Basic Science Fund - Various
Slipher Fund
b. Prizes and Awards
is
91
Levison Memorial Fund 2 2
NAS Support Staff Award 2 2
TOTAL
$ $ $
18 (10)
99
$ 96 $ 18 $ $ ($ 10) $ 104
$163,096
$2,119 $15,121
$27,367 ($12,980) $194,723
25
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SCHEDULE 2
Endowment and Trust Investment Pool
dime 30, 1998 and 1997
($ in thousands)
Balance Balance QuotedInvestment
June 30, June 30, MarketIncome
1997 Additions Net 1998 June 30,Year Ended
(et cost) (et cost)Reductions* Gain/(Loss) (et cost)** 1998June 30, 1998
FIXED-INCOME SECURITIES (Schedule 2-A)
Cash Equivalents$ 4,955 $ 6,366 $ 8,697 $ $ 2,624 $ 2,624 $ 129
Bonds and Notes 44,181 21,242 32 173 65,564 67,247 4,279
Real Estate - Mortgage 13,062 829 12,233 12,233 1,158
Total Fixed-Income Securities $ 62,198 $27,608 $ 9,558 $ 173 $ 80,421 $ 82,104 $ 5,566
EQUITY SECURITIES (Schedule 2-B) 99,421 54,776 67,246 27,005 113,956 181,089 9,663
TOTAL POOLED INVESTMENTS $161,619 $82,384 $76,804 $27,178 $194,377 $263,193 $15,229
Less: Investment Advisory Fees (115)
Net Investment Income
*Reductions from sales, redemptions, or payoff of mortgage.
**Balance excludes short-term investments which are reported on Schedules 1-A and 1-B.
26
$15,114
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SCHEDULE 2-A
Endowment and Trust Investment Pool - F~ced-Income Securities
Kline 30, 1998 and 1997
($ in thousands)
Interest Principal
Rate Maturity Amount Cost
Quoted
Market
CASH EQUIVALENTS
Bankers Trust Investment Fund Variable (1) Demand$41$41$41
Fidelity Money Market Trust Variable (2) Demand2,5832,5832,583
TOTAL CASH EQUIVALENTS $2,624$2,624$2,624
BONDS AND NOTES
BZW Barclay's U.S. Debit Index Fund B Variable (3) Demand$35,103$35,103$36,889
MAS Fixed-Income II Institutional Variable (4) Demand12,12712,12712,310
MAS High-Yield Institutional Fund Demand6,1916,1916,438
T. Rowe Price International
Bond Fund Variable (5) Demand2,8032,8032,745
Scudder International Bond Fund Variable (6) Demand3,1013,1012,605
State Street Bank Demand244244156
Vanguard High-Yield Corporate Variable(7) Demand5,9955,9956,104
TOTAL BONDS AND NOTES $65,564$65,564$67,247
REAL ESTATE - MORTGAGES
Bank of New York 9.125% $10,044$10,044$10,044
Bank of New York 9.125% 2,1892,189$2,189
TOTAL REAL ESTATE - MORTGAGES $12,233$12,233$12,233
Current yield on June 30, 1998:
(1) 4.89% (5) 5.65%
(2) 5.64% (6) 4.47%
(3) 10.56% (7) 8.22%
(4) 9.70%
27
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SCHEDULE 2-B
Endowment and Trust Investment Pool - Equity Securities
Kline 30, 1998
($ in thousands)
Number Quoted
of SharesCostMarket
Jones and BabsonEnteIpnse Fund601,442$9,254$11,806
BEA Emerging Market Fund124,3752,1091,723
Belmont II Limited Partners--16
Berkshire Hathaway, Inc.2751,20221,534
Berkshire Hathaway, Inc. (Class B)91424
Capital International Emerging Market Fund90,2791,8302,280
Chiron Corporation9,756205153
Insurance Partners, L.P.906906906
Scudder International Fund118,7834,7646,546
Templeton Emerging Market Fund183,6262,0071,548
Templeton Foreign Equity Series695,7097,79913,803
The Investment Fund Foundation220220220
VanguardIndexExtendedInstitutionalShares426,85613,33414,184
VanguardInstitutionalIndex Fund473,42519,48649,530
VanguardInternationalEuropean Portfolio360,9766,5539,216
VanguardInternationalPacific Portfolio223,2462,5071,616
Vanguard International Growth Portfolio1335,5183,9176,257
VanguardIntemationalValue158,3764,4284,146
Vanguard SmallCapitaiizationInstitutionalPortfolio553,93413,31213,682
Vanguard Windsor Fund1,169,18319,50321,759
Partnership Interest - New Enterprise Associates 606140
TOTAL EQUITY SECURITIES $113,956$181,089
SCHEDULE 3
Short-Term Investments
Kline 30, 1998
($ in thousands)
Interest
Type and Description RateCost
NASA FederalCredit Union 5.32%$100
Vanguard Admiral Funds - Short-Term U.S. Treasury Portfolio Variable (1)16,958
Vanguard Fixed-Income Securities Short-Term Corporate Portfolio Variable (2) 17,016
TOTAL SHORT-TERM INVESTMENTS
Current yield on June 30, 1998:
(1) 5.55%
(2) 5.98%
28
$34,074
Representative terms from entire chapter:
endowment fund
