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I. Investments 7
SCHEDULE 1 J Endowment and Trust Investments - Description of Funds for the SO Months Ended December Al, 1998 I. ENDOWMENT A. Unrestricted 1. NAS 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. Hennetta and Alexander Hollaender Fund - A bequest to the Academy from Dr. Alexander and Mrs. Hennetta 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 - Bequest of David Lloyd Fillman and others for general purposes of the Academy. By action of the Council, the International Cntical Tables were transferred into this fund during fiscal 1976, and proceeds from the sale of the Audubon Folios were transferred in fiscal 1981. Members Endowment Fund - Contnbutions from venous members to be used for general purposes of the Academy. National Academy of Sciences Reserve Fund Subtotal 2. IOM General Endowment Fund - Contnbutions from venous sources, including members of the Institute of Medicine, for capital endowment of the IOM. 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 14,000 202,319 1,000,000 7,146,660 2,375,375 $ 576,260 500,000 1,000,000 29,662 3,149,745 $19,832,910 $5,255,667 $ 552,126
SCHEDULE 1 J Endowment and Trust Investments - Description of Funds for the SO Months Ended December 3l, 1998 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 Fund - Unexpended balance earned on endowment based on IOM Council spending plan. The IOM reserve permits the effective management of unanticipated financial emergencies. IOM Kellogg Fund - A grant from the Kellogg Foundation to be used for general purposes of IOM. IOM Members' Dues 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 Discretionary Fund - A grant from the W. K. Kellogg to further the IOM's long-range program development. 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 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 3. TRB TRB Reserve Fund - Holds income in excess of expenditures for TRB core support activities in a fiscal year. This fund is used to cover temporary shortfalls and extraordinary one-time expenditures. Subtotal 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. For endowment contributions, the capital is typically restricted and the income is unrestricted. Capital Contribution Column 2 of Schedule 1A Restricted Unrestricted $ 5,000,000 500,000 55,000 35,000 488,485 5,000,000 110,000 259,448 26,346 $12,026,405 $ 1,500,000 $ 1,500,000 $ 3,934 9
SCHEDULE 1 Endowment and Trust Investments-Description of Funds Capital Contribution for the Six Months Ended December 31, 1998 Column 2 of Schedule 1A Restricted Unrestricted 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. 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 from which is to be used in support of genetics research. 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 aualilv of U.S. education. assuring access to aualilv health care in an _ _ _ _ _ _ - 7 · ~ · · . · . ~ ~ ~ ~ · . ~ ~ · . ~ ~ . era ot rapidly rising costs, assessing the role ot olotechnology In the tuture ot 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 the IOM, the income from the fund is to support a variety of dissemination and outreach activities that seek to share Academy complex knowledge and resources with the policy-making 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 For endowment contributions, the capital is typically restricted and the income is unrestricted. 10 $ 500,000 420,232 886,902 258,081 50,000 2,662,514 467,256 39,058 20,000,000 296,593 1,000,000 1,148,705 1,000,000 244,302 $941,179 $28,977,577 $941,179
SCHEDULE 1 J Endowment and Trust Investments - Description of Funds for the SO Months Ended December Al, 1998 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 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 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 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. 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 For endowment contributions, the capital is typically restricted and the income is unrestricted. Capital Contribution Column 2 of Schedule 1A Restricted Unrestricted 250 31,250 2,025 1,300 450 100 101,120 23,800 9,965 976 200 400 750 11,100 1,000 200 $ 184,886 $ 11,750 525,000 125,000 2,700 5,000,000 20,000 $5,684,450 11
SCHEDULE 1 J Endowment and Trust Investments - Description of Funds for the SO Months Ended December Al, 1998 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 three years. The fund principal is not restricted. 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. 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. Carty, 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 investiga- tions in astronomical physics; the balance of income is applied to aid research in this science. 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 in 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. For endowment contributions, the capital is typically restricted and the income is unrestricted. 12 Capital Contribution Column 2 of Schedule 1A Restricted Unrestricted $ 30,000 95,736 60,000 71,299 25,000 10,400 6,000 8,000 79,849 24,000 5,173
SCHEDULE 1 Capital Contribution Column 2 of Schedule 1A Restricted Unrestricted J Endowment and Trust Investments - Description of Funds for the SO Months Ended December Al, 1998 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 B. ache 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 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 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. 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 50,000 39,740 100,000 24,750 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 _ard in Molecular Biology - A grant from the Monsanto Company for an 10,465 10,000 10,000 award to be given in recognition of contributions in the field of molecular biology. 421,374 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 Award in Mathematics - Established by the American Mathematical Society for a prize to be awarded every four 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 three 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. For endowment contributions, the capital is typically restricted and the income is unrestricted. 6,000 181,838 140,206 49,119 $53,597 1 ~
SCHEDULE 1 J Endowment and Trust Investments - Description of Funds for the SO Months Ended December Al, 1998 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. 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 Microhiolo~v for an award of $5.()()() every two years to be known as the selman A. Waksman Award in Microbiology. the contributions 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 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. 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. For endowment contributions, the capital is typically restricted and the income is unrestricted. 14 Capital Contribution Column 2 of Schedule 1A Restricted Unrestricted $ 16,392 20,325 67,107 8,000 10,000 505,359 5,000 15,000 25,000 $2,354,264 $53,597 $1,200,000
SCHEDULE 1 J Endowment and Trust Investments - Description of Funds for the SO Months Ended December Al, 1998 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 organiza- tion for distinguished accomplishments in the field of mental health. Subtotal 3. The National Academies' Corporation (TNACJ - An endowment from the Arnold and Mabel Beckman Foundation for operating and program uses. The Beckman endow- ment 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 recog- nize 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. 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. Penzance Foundation Fund - A grant for the J. Erik Jonsson Woods Hole Study Center especially for support of the property's Clark Carriage House. Woods Hole Endowment - Contributions from the Brown Foundation and various individ- uals for maintenance of the Woods Hole Study Center. Woods Hole Fund - Contributions from various 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. Transportation Research Board Turner Awa - Holds the income received from private sources to be awarded to individ- uals who have been selected for the Francis Turner Medal for Lifetime Achievement in Transportation. Subtotal 6. PANS 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. Subtotal For endowment contributions, the capital is typically restricted and the income is unrestricted. Capital Contribution Column 2 of Schedule 1A Restricted Unrestricted $ 1,009,179 $ 2,209,179 $11,677,491 $11,677,491 $ 100,000 2,002,500 502,500 819,691 12,874 50,000 $ 3,487,565 $ 30,000 $ 30,000 $ 50,102 $ 50,102 15
SCHEDULE 1 J Endowment and Trust Investments - Description of Funds for the Six Months Ended December ill, 1998 II. FUNDS FUNCTIONING AS ENDOWMENT A. NAS - Prizes and Awards 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. Subtotal B. PEAS Proceedings of the National Academy of Sciences Fund Subtotal C. TNAC Capital Fund Subtotal 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 & 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 deter- mined by the Academy. The bequest principal is managed by Valley National Bank, Phoenix, Arizona, which makes periodic income distributions to the Academy. Income distributions 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 in CBASSE. For endowment contributions, the capital is typically restricted and the income is unrestricted. 16 Capital Contribution Column 2 of Schedule 1A Restricted Unrestricted $ 15,826 $ 15,826 $1,000,000 $1,000,000 $1,259,294 $1,259,294
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 Sciences 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 three-year option on an additional $20,000, which may be used to pursue research in the opposite country. NAS Award for Initiatives in Research - Established by Bell Telephone Laboratones 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. NAS 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. NAS 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. NAS Support Staff Award - Contnbutions from venous 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 SCHEDULE 1 Endowment and Trust Investments-Description of Funds Capital Contribution for the SO Months Ended December Al, 1998 Column 2 of Schedule 1A Restricted Unrestricted $90,289,949 $6,250,443 Notes: Items that have a " " in the Capital Contribution column are those with no contribution this year but that have activity in the investment pool. In most cases there is short-term investment activity. For endowment contributions, the capital is typically restricted and the income is unrestricted. 17
SCHEDULE 1-A Endowment and Trust Investment Funds - Financial Detail of Funds from Inception to December 3l, 1998 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Number of Cumulative Fund Market Participating Reinvestment Cumulative TotalCash and Equity Values Capital Capital of Earned Realized Pooled Accrued Dec. 31, Dec. 31, Units Contribution Income Gains Investments Income 1998 1998 A. Endowment 1. Unrestricted a. NAS Agassiz Fund Carnegie Fund Commonwealth Fund Carl Eckart Fund Ford Foundation Fund Henrietta and Alexander Hollaender Fund Grayce B. Kerr Fund National Academy of Sciences Reserve Fund Nealley Fund Simon Ramo Fund Rockefeller Foundation Fund Dorothea and Herbert Simon Fund Sloan Foundation Fund Amy Prudden Turner Fund Anonymous Endowment Fund General Endowment Fund Members Endowment Fund '.. IOM General Endowment Fund Robert Wood Johnson Foundation Fund IOM Reserve Fund Henry J. Kaiser Family Foundation Fund IOM Kellogg Fund IOM Members Dues John D. and Catherine T. MacArthur Foundation Fund Pharmaceutical Discretionary Fund Pharmaceutical Endowment Fund Miscellaneous - Private-Sector Fund 614.98 41,618.55 2,398.03 1,959.94 24,094.66 ,051.55 490.89 108.50 237.92 34.51 4,949.47 544.17 4,951.39 36.59 5,405.00 9,036.12 4,790.50 2,422.77 ,228.62 2,784.37 576.21 ,007.15 64.18 40.84 2,617.60 128.37 570.85 50 3,275 500 576 5,000 500 250 66$ 261 4,96917,833 285867 185589 2,8858,718 66 31 39 20 47 4 8 ,000 592 202 30 ,000 593 30 2 7,147 1,318 3,150 868 2,375 412 $25,089 $12,396 552 5,000 500 489 55 35 5,000 110 259 67.70 26 29,085.89 $12,026 $ 377 26,077 ,652 ,350 6,603 47 66 713 347 32 71 09 176 9 3 ,799 3,391 47 379 ,798 3,391 56 88 2,463 10,928 2,133 6,151 689 3,476 $37,716 $75,20 220$ 179 ,59 21 77 1 ,502 2 74 $ 951 2,248 8,839 8 529 37 703 56 35 2,341 8,843 112 79 412 1410 $ 3,502$ 5,002 50 $20,530 $ 98 $ 475 414 26,491 7 1,669 41 1,49 88 16,69 0 2 73 77 32 9 3,410 0 389 9 3,410 3 101 221) 10,707 33 6,184 13 3,489 $ 658 $75,859 $ (7) $ (313) 8,526 529 $ 539 36,487 2,102 1,718 21,124 723922 347430 95 209 31 4,339 477 4,340 20 3,505 7,922 4,200 $98,560 944 $ 1,077 11,208 505 (17) 686 883 56 56 35 36 (310) 8,533 112 (20) 392 (3) 47 $(670) $19,860 11,062 113 500 59 $25,499 c. Transportation Research Board TRB Reserve Fund 1,700.41 $ 1,500 $ 47 $ 23 $ 1,570 $ 13 $ 1,583 $ 1,491 1,700.41 $ 1,500 $ 47 $ 23 $ 1,570 $ 13 $ 1,583 $ 1,491 I. Restricted for Specific Purpose a. Program i. NAS - Outside Sources Arts in the Academy Fund Basic Science Fund - Earth Sciences Biology and Biotechnology Fund Blakeslee Fund Thomas Lincoln Casey Fund Coca Cola Foundation Endowment Fund 1,063.41 893.84 2,446.65 6,305.18 108.89 10.68 $ 4 500 420 887 258 50 Fund equity includes cumulative realized and unrealized gains and income. 18 142 160 53119 207612 1,5932,318 916 9 802 5 807 932 592 13 1,706 7 4,169 25 605784 1,7132,145 4,1945,528 75 1 76 96
SCHEDULE 1-A Endowment and Trust Investment Funds - Financial Detail of Funds from Inception to December 3l, 1998 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Number of Cumulative FundMarket Participating Reinvestment CumulativeTotalCash and EquityValues CapitalCapitalof EarnedRealized Pooled Accrued Dec. 31, Dec. 31, Units Contribution Income Gains Investments Income1998 1998 Arthur L. Day Fund15,058.81 $ 2,663 $2,937 $ 4,221 $ 9,821 $ 48$ 9,869 $13,202 Cecil and Ida Green Fund1,424.56 467 105 412 984 8992 1,249 Global Commons Project Fund100.12 39 20 13 72 476 88 Houston Advanced Research Center 9 9 110 W. K. Kellogg Foundation Fund40,794.85 20,000 2,212 6,009 28,221 10928,330 35,764 Kobelt Fund1,935.89 297 320 679 1,296 81,304 1,697 Andrew W. Mellon Foundation Fund2,244.43 1,000 190 338 1,528 91,537 1,968 Postemployment Benefits1,583.68 941 221 181 1,343 1361,479 1,388 Frank Press Fund for Dissemination and Outreach2,088.46 1,149 150 280 1,579 581,637 1,831 Scientists and Engineers for the Future Fund2,495.04 1,000 176 337 1,513 (6)1,507 2,187 State Street Fund244 244 244 78,554.49 $29,919 $8,347 $15,696 $53,962 $426$54,388 $68,868 NAS - Members Endowment(s) Anthropology Fund 0.53 $ $ $ $ $ $ $ Board on Chemical Sciences Fund 100.48 31 28 14 73 73 88 Board on Earth Sciences Fund 6.14 2 2 1 5 5 5 Board on Mathematical Sciences Fund 3.56 2 1 3 3 3 Board on Physical Sciences Fund 0.21 1 1 Board on Physics and Astronomy Fund 0.88 Committee on Human Rights Fund 198.16 101 34 23 158 4 162 174 Committee on International Security and Arms Control Fund 69.31 24 18 10 52 (1) 51 61 Committee on Life Sciences Fund 25.23 10 5 3 18 18 22 Embryology Fund 2.57 1 1 2 2 2 Environmental Studies Fund 0.44 Math and Science Education Endowment Fund 0.74 1 1 1 1 NAS Class I Fund 2.25 1 1 2 2 2 Section 14 Chemistry Discretionary Fund 32.85 11 8 5 24 23 29 The Family and Community Well-Being Fund 2.82 1 1 2 2 3 Abel Wolman Lecture Fund 0.22 446.39 $ 185 $ 99 $ 56 $ 340 $ 3 $ 343 $ 391 iii. IOM Distinguished Scholar Fund 38.18 $ 12 $ 12 $ 6 $ 30 $ (1) $ 29 $ 33 Food and Nutrition Board 1,516.43 525 354 211 1,090 8 1,098 1,329 Food and Nutrition Board Corporations Fund 405.65 125 116 54 295 2 297 356 Food and Nutrition Board Members Fund 12.40 3 5 1 9 1 10 11 Howard Hughes Medical Institute Fund 12,360.48 5,000 2,106 1,955 9,061 (5) 9,056 10,836 Fund equity includes cumulative realized and unrealized gains and income. 19
SCHEDULE 1-A Endowment and Trust Investment Funds - Financial Detail of Funds from Inception to December 3l, 1998 Number of Participating Capital Capital ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Cumulative Fund Market Reinvestment Cumulative Total Cash and Equity Values of Earned Realized Pooled Accrued Dec. 31, Dec. 31, Units Contribution Income Gains Investments Income 1998 1998 Women's Health Issues Fund47.56$ 20$ 11$ 7$ 38$(1)$ 37$ 42 14,380.70$5,685$2,604$2,234$10,523$ 4$10,527$12,607 b. Prizes and Awards i. NAS American Psychological Association Science Directorate Fund48.26$ 30$ 5$ 5$ 40$ 4$ 44$ 42 Applied Mathematics and NumericalAnalysis Fund 29 29 29 Henryk Arctowski Fund2,476.25969536921,74151,7462,171 B ache Fund428.7960331842772279376 Blaauw Fund873.7972190313575(11)564766 John J. Carty Fund673.30252352154754479590 Comstock Fund598.31102281634012403525 Draper Fund253.88690871831184223 Elliot Fund163.9185053111(2)109144 Estes Award in Social and Behavioral Sciences237.038057391762178208 Gibbs Brothers Fund264.60247186181 181232 Gibbs Fund149.87538591025107131 Ralph E. Gomory Award for the Application of Science421.111796361303(1)302369 Gould Fund717.5450139282471(1)470629 Joseph Henry Fund487.3540362303069315427 Alexander Hollaender Award in Biophysics270.5310054401941195237 Hunsaker Fund309.522510594224 224271 Hunt Fund144.82106433107 107127 Kovalenko Fund966.16443332966732675847 Marsh Fund215.291025981332135189 George P. Merrill Fund79.0310162854(3)5169 Monsanto Award in Molecular Biology1,001.194219917569521716878 Murray Fund191.7567945130(26)104168 NAS Award for Chemistry in Service to Society370.9618234482644268325 NAS Award in Mathematics62.5554 5415555 NAS Award in Neurosciences380.4214083582811282334 NAS Fund for Sciences and Technology in International Affairs177.93495926134 134156 Pradel Fund601.86172791404361437528 H. P. Robertson Lectureship Fund226.452070701601161199 Helen P. Smith Fund489.46671401413481349429 Mrs. J. Lawrence Smith Fund541.218200170378(3)375474 Thompson Fund226.47106483157 157199 Troland Fund3,400.555061,1691,1282,80352,8082,981 Waksman Award (5)(5) Walcott Fund75.88511304614766 G. K. Warren Fund149.01154349107 107131 Watson Fund1,011.5525393289707(2)705887 18,686.58$2,409$5,537$5,510$13,456$21$13,477$16,383 Fund equity includes cumulative realized and unrealized gains and income. 20
SCHEDULE 1-A Endowment and Trust Investment Funds - Financial Detail of Funds from Inception to December 3l, 1998 Number of Participating Capital Capital Units Contribution c. e. f. PNAS Billings Fund B. Funds Functioning as Endowment 1. NAS - Prizes and Awards Henry G. Booker Fellowship Fund 2. PNAS Proceedings of the National Academy of Sciences Fund 3. TNAC TNAC Capital Fund C. Restricted Contributions 1. NAS ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Cumulative Fund Reinvestment Cumulative TotalCash and Equity Market Values of Earned Realized Pooled Accrued Dec. 31, Dec. 31, Income Gains Investments Income 1998 1998 ii. IOM Gustav O. Lienhard Award2,963.98$ 1,200$ 496$ 405$ 2,101$ (40)$ 2,061$ 2,598 Rhonda and Bernard G. Sarnat International Prize in Mental Health1,312.411,00997861,192221,2141,151 4,276.39 $ 2,209 $ 593 $ 491 $ 3,293 $(18) $ 3,275 $ 3,749 The National Academies' Corporation 20,610.42 $11,677 $ 976 $ 2,803 $ 15,456 $ 30 $ 15,486 $ 18,069 20,610.42 $11,677 $ 976 $ 2,803 $ 15,456 $ 30 $ 15,486 $ 18,069 d. Woods Hole Peter C. Cornell Fund 262.85 $ 100 $ 30 $ 61 $ 191 $ $ 191 $ 230 Erik Jonsson Woods Hole Fund 4,566.88 2,003 647 649 3,299 63,305 4,004 Penzance Foundation Fund 1,143.39 502 163 162 827 4831 1,002 Woods Hole Endowment Fund 1,207.51 820 87 125 1,032 81,040 1,059 Woods Hole Fund 42.41 13 10 8 31 132 37 Richard King Mellon Foundation Fund 201.55 50 57 41 148 148 177 7,424.59 $ 3,488 $ 994 $ 1,046 $ 5,528 $ 19 $ 5,547 $ 6,509 Transportation Research Board Turner Award $ 30 $ $ $ 30 $ $ 30 $ $ 30 $ $ $ 30 $ $ 30 $ 590.02 $ 50 $ 191 $ 167 $ 408 $ 1 $ 409 $ 517 590.02 $ 50 $ 191 $ 167 $ 408 $ 1 $ 409 $ 517 31.69$ 16 3,088.231,000 614 587 2,201 $ (3)$ 21$ 28 52,2062,707 2,048.231,2591272551,641(7)1,6341,796 5,168.15$ 2,275$ 746$ 845$ 3,866$ (5)$ 3,861$ 4,531 a. Program Basic Science Fund - Various $ $ Slipher Fund b. Prizes and Awards Levison Memorial Fund Richard Lounsbery Foundation Award NAS Award for Initiatives in Research NAS Award in Chemical Sciences NAS Award in Scientific Reviewing NAS Support Staff Award TOTAL Fund equity includes cumulative realized and unrealized gains and income. 22 $ $ 104$ $ 104 293,346.80 $96,542 $36,136 $71,589 $204,267 is 1$ $ 1$ $ 1 $ 999999 22 2 (58) (15) (15) (10) (10) (5) (5) $ (88) $ 16 $394 $204,661 $257,174 21
2. Restricted for Specific Purpose a. Program SCHEDULE 1-B Endowment and Trust Investment Funds - Financial Detail of Funds for the SO Months Ended December 3l, 1998 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Fund Fund Equity ExpendituresEquity June 30, IncomeCapitalandDec. 31, 1998ContributionsEarnedGainsTransfers1998 A. Endowment 1. Unrestricted a. NAS Agassiz Fund $ 456 $ $ 22 $ 8 $ (11) $ 475 Carnegie Fund 25,201 1,486 563 (759) 26,491 Commonwealth Fund 1,595 86 32 (44) 1,669 Carl Eckart Fund 1,348 84 68 25 (34) 1,491 Ford Foundation Fund 15,945 860 326 (440) 16,691 Henrietta and Alexander Hollaender Fund 708 27 7 (19) 723 Grayce B. Kerr Fund 344 10 2 (9) 347 National Academy of Sciences Reserve Fund 72 3 (2) 73 Nealley Fund 142 25 14 (4) 177 Simon Ramo Fund 24 5 3 32 Rockefeller Foundation Fund 3,256 177 67 (90) 3,410 Dorothea and Herbert Simon Fund 373 19 7 (10) 389 Sloan Foundation Fund 3,256 177 67 (90) 3,410 Amy Prudden Turner Fund 96 5 2 (2) 101 Anonymous Endowment Fund 10,229 550 209 (281) 10,707 General Endowment Fund 5,903 323 122 (164) 6,184 Members Endowment Fund 3,342 171 64 (88) 3,489 $72,290 $ 84 $4,014 $1,518 $(2,047) $75,859 b. IOM General Endowment Fund $ 849 $ 68 $ 43 $ 16 $ (32) $ 944 Robert Wood Johnson Foundation Fund 8,257 456 173 (360) 8,526 IOM Reserve Fund 500 21 8 529 Henry J. Kaiser Family Foundation Fund 657 37 20 (28) 686 IOM Kellogg Fund 1 55 56 IOM Members Dues 35 35 John D. and Catherine T. MacArthur Foundation Fund 8,267 450 171 (355) 8,533 Pharmaceutical Discretionary Fund 2 110 112 Pharmaceutical Endowment Fund 380 20 8 (16) 392 Miscellaneous - Private-Sector Fund 45 3 1 (2) 47 $18,955 $ 68 $1,033 $ 397 $ (593) $19,860 c. Transportation Research Board TRB Reserve Fund $ $ $ 60 $ 23 $ 1,500 $ 1,583 $ $ $ 60 $ 23 $ 1,500 $ 1,583 c7 i. NAS - Outside Sources Arts in the academy Fund $ 8 $ $ $ $ $ 8 Basic Science Fund - Earth Sciences 755 38 14 807 Biology and Biotechnology Fund 586 41 12 (34) 605 Blakeslee Fund 1,691 88 33 (99) 1,713 Thomas Lincoln Casey Fund 4,126 225 85 (242) 4,194 Current market values are reported in Schedule 1-A. 22
SCHEDULE 1-B Endowment and Trust Investment Funds - Financial Detail of Funds for the SO Months Ended December 3l, 1998 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Fund Fund Equity ExpendituresEquity June 30, IncomeCapitalandDec. 31, 1998ContributionsEarnedGainsTransfers1998 Coca Cola Foundation Endowment Fund $ 74 $ $ 4 $ 2 $ (4) $ 76 Arthur L. Day Fund 9,707 537 204 (579) 9,869 Cecil and Ida Green Fund 977 51 19 (55) 992 Global Commons Project Fund 70 4 2 76 Houston Advanced Research Center 10 10 W. K. Kellogg Foundation Fund 27,891 1,455 552 (1,568) 28,330 Kobelt Fund 1,283 69 26 (74) 1,304 Andrew W. Mellon Foundation Fund 1,513 80 30 (86) 1,537 Postemployment Benefits 1,360 42 56 21 1,479 Frank Press Fund for Dissemination and Outreach 1,594 20 71 29 (77) 1,637 Scientists and Engineers for the Future Fund 1,480 89 34 (96) 1,507 State Street Fund 244 244 $53,369 $ 62 $2,808 $1,063 $(2,914) $54,388 ii. NAS - Members Endowment(s) Anthropology Fund $ $ $ $ $ $ Board on Chemical Sciences Fund 68 4 1 73 Board on Earth Sciences Fund 5 5 Board on Mathematical Sciences Fund 3 3 Board on Physical Sciences Fund 1 1 Board on Physics and Astronomy Fund Committee on Human Rights Fund 139 13 7 3 162 Committee on International Security and Arms Control Fund 48 2 1 51 Committee on Life Sciences Fund 17 1 18 Embryology Fund 2 2 Environmental Studies Fund Math and Science Education Endowment Fund 1 1 NAS Class I Fund 2 2 Section 14 Chemistry Discretionary Fund 22 1 23 The Family and Community Well-Being Fund 2 2 Abel Wolman Lecture Fund $ 310 $ 13 $ 15 $ 5 $ $ 343 iii. IOM Distinguished Scholar Fund $ 27 $ $ 1 $ 1 $ $ 29 Food and Nutrition Board 1,023 54 21 1,098 Food and Nutrition Board Corporations Fund 276 15 6 297 Food and Nutrition Board Members Fund 10 10 Howard Hughes Medical Institute Fund 8,450 441 165 9,056 Women's HealthIssues Fund 34 2 1 37 $ 9,820 $ $ 513 $ 194 $ $10,527 Current market values are reported in Schedule 1-A. 23
SCHEDULE 1-B Endowment and Trust Investment Funds - Financial Detail of Funds for the SO Months Ended December 3l, 1998 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Fund Fund Equity ExpendituresEquity June 30, IncomeCapital andDec. 31, 1998 Contributions EarnedGains Transfers1998 b. Prizes and Awards i. NAS American Psychological Association Science Directorate Fund $ 41 $ $ 2 $ 1$ $ 44 Applied Mathematics and Numerical Analysis Fund 29 29 Henryk Arctowski Fund 1,624 88 341,746 B ache Fund 258 15 6279 Blaauw Fund 530 22 12564 John J. Carty Fund 446 24 9479 Comstock Fund 374 21 8403 Draper Fund 172 9 3184 Elliot Fund 105 6 2 (4) 109 Estes Award in Social and Behavioral Sciences 166 9 3 178 Gibbs Brothers Fund 170 10 4 (3) 181 Gibbs Fund 100 5 2 107 Ralph E. Gomory Award for the Application of Science 281 15 6 302 Gould Fund 434 26 10 470 Joseph Henry Fund 291 17 7 315 Alexander Hollaender Award in Biophysics 181 10 4 195 Hunsaker Fund 209 11 4 224 Hunt Fund 100 5 2 107 Kovalenko Fund 628 34 13 675 Marsh Fund 124 8 3 135 George P. Merrill Fund 47 3 1 51 Monsanto Award in Molecular Biology 666 36 14 716 Murray Fund 94 7 3 104 NAS Award for Chemistry in Service to Society 250 13 5 268 NAS Award in Mathematics 53 2 55 NAS Awardin Neurosciences 263 14 5 282 NAS Fund for Sciences and Technology in International Affairs 126 6 2 134 Pradel Fund 407 21 9 437 H. P. Robertson Lectureship Fund 150 8 3 161 Helen P. Smith Fund 324 18 7 349 Mrs. J. Lawrence Smith Fund 353 19 7 (4) 375 Thompson Fund 146 8 3 157 Troland Fund 2,640 121 47 2,808 Waksman Award (5) (5) Walcott Fund 43 3 1 47 G. K. Warren Fund 100 5 2 107 Watson Fund 658 36 14 (3) 705 $12,583 $ $657 $256 $(19) $13,477 Current market values are reported in Schedule 1-A. 24
B. Funds Functioning as Endowment 1. NAS - Prizes and Awards Henry G. Booker Fellowship Fund 2. PNAS Proceedings of the National Academy of Sciences Fund SCHEDULE 1-B Endowment and Trust Investment Funds - Financial Detail of Funds for the SO Months Ended December 3l, 1998 ($ in thousands) ENDOWMENT AND TRUST INVESTMENT POOL Fund Fund Equity ExpendituresEquity June 30, IncomeCapitalandDec. 31, 1998ContributionsEarnedGainsTransfers1998 ii. IOM Gustav O. Lienhard Award $ 1,960$ $ 106 $ 40 $ (45) $ 2,061 Rhonda and Bernard G. Sarnat International Prize in Mental Health 1,17947 17 (29) 1,214 $ 3,139 $ $ 153 $ 57 $ (74) $ 3,275 c. The National Academies' Corporation $ 14,843$ $ 737 $ 281 $ (375) $ 15,486 $ 14,843 $ $ 737 $ 281 $ (375) $ 15,486 d. Woods Hole Peter C. Cornell Fund $ 182$ $ 9 $ 4 $ (4) $ 191 Erik Jonsson Woods Hole Fund 3,153163 62 (73) 3,305 Penzance Foundation Fund 79341 15 (18) 831 Woods Hole Endowment Fund 994 10 43 12 (19) 1,040 Woods Hole Fund 29 2 1 32 Richard King Mellon Foundation Fund 141 7 3 (3) 148 $ 5,292 $ 10 $ 265 $ 97 $ (117) $ 5,547 e. Transportation Research Board $ $ 30 $ $ $ $ 30 Turner Award $ $ 30 $ $ $ $ 30 f. PNAS Billings Fund $ 380 $ $ 21 $ 8 $ $ 409 $ 380 $ $ 21 $ 8 $ $ 409 $ 23 $ $ 1 $ $ (3) $ 21 2,054 110 42 2,206 3. TNAC TNAC Capital Fund1,5617328(28)$ 1,634 $ 3,638$ $ 184$ 70$ (31)$ 3,861 C. Restricted Contributions 1. NAS a. Program Basic Science Fund -Various $ 1 $ $ $ $ $ 1 Slipher Fund 99 4(4) 99 b. Prizes and Awards Levison Memorial Fund 2 2 Richard Lounsbery Foundation Award (58) (58) NAS Award for Initiatives in Research (15) (15) NAS Award in Chemical Sciences (10) (10) NAS Award in Scientific Reviewing (5) (5) NAS Support Staff Award 2 2 $ 104 $ $ 4$ $ (92) $ 16 TOTAL Current market values are reported in Schedule 1-A. $194,723 $267 $10,464 $3,969 $(4,762) $204,661 25
SCHEDULE 2 Endowment and Trust Investment Pool ,Iune 30 and December 3l, 1998 ($ in thousands) Balance Balance Quoted Investment June 30, Dec. 31, Market Income 1998Additions Net 1998 Dec. 31, Year Ended (et cost)(et cost)Reductions* Gain/(Loss) (et cost)t 1998 Dec. 31, 1998 FIXED-INCOME SECURITIES (Schedule 2-A) Cash Equivalents$ 2,624 $ 8,823 $ 3,970 $ $ 7,477 $ 7,477 $ 36 Bonds end Noses 65,564 11,231 4,719 314 72,390 73,405 2,256 Real Estate - Mortgages 12,233 443 11,790 11,790 504 TotalFixed-Income Securities $ 80,421 $20,054 $ 9,132 $ 314 $ 91,657 $ 92,672 $2,796 EQUITY SECURITIES (Schedule 2-B) 113,956 6,997 12,037 3,652 112,568 164,502 6,750 TOTAL POOLED INVESTMENTS $194,377 $27,051 $21,169 $3,966 $204,225 $257,174 $9,546 Less: Investment Advisory Fees (40) Net Investment Income *Reductions from sales, redemptions, or payoff of mortgage. "Balance excludes short-term investments that are reported in Schedules 1-A and 1-B. 26 $9,506
SCHEDULE 2-A Endowment and Trust Investment Pool - F~ced-Income Securities December 3l, 1998 ($ in thousands) Interest Principal Quoted Rate MaturityAmountCostMarket CASH EQUIVALENTS Admiral Money Market Fund Variable (1) Demand$6,000$6,000$6,000 Bankers Trust Investment Fund Variable (2) Demand737373 Fidelity Money Market Trust Variable (3) Demand1,4041,4041,404 TOTAL CASH EQUIVALENTS $7,477$7,477$7,477 BONDS AND NOTES BZW Barclay's U. S. DebtIndex Fund B Variable (4) Demand$38,799$38,799$40,373 MAS Fixed Income II Institutional Variable (5) Demand12,40812,40812,291 MAS High Yield Institutional Fund Variable (6) Demand4,6184,6184,351 T. Rowe Price International Bond Fund Variable (7) Demand2,8032,8032,997 Scudder International Bond Fund Variable (8) Demand3,1013,1012,841 State Street Bank Demand244244156 U.S. Treasury Securities 05/15/235,9985,9986,050 Vanguard High-Yield Corporate Variable (9) Demand4,4194,4194,346 TOTAL BONDS AND NOTES $72,390$72,390$73,405 REAL ESTATE - MORTGAGES Bank of New York 9.125% $ 9,680$ 9,680$ 9,680* Bank of New York 9.125% 2,1102,1102,110* TOTAL REAL ESTATE - MORTGAGES $11,790$11,790$11,790* Current yield at December 31, 1998: (1) 4.59% (6) 5.50% (2) 4.23% (7) 5.32% (3) 5.07% (8) 3.82% (4) 5.65% (9) 8.48% (5) 9.80% *Recorded at cost. 27
SCHEDULE 2-B Endowment and Trust Investment Pool - Equity Securities, December 3l, 1998 ($ in thousands) Number of Shares 601,442 124,375 Cost $ 10,740 2,135 Quoted Market $ 10,114 1,444 16 18,060 21 1,455 255 1,270 237 6,446 1,526 13,256 580 13,901 48,561 9,154 1,750 5,374 4,050 12,551 14,334 147 Jones and Babson Enterpnse Fund BEA Emerging Market Fund Belmont II Limited Partners Berkshire Hathaway, Inc. Berkshire Hathaway, Inc. (Class B) Capital International Emerging Market Fund Chiron Corporation Insurance Partners, I Insurance Partners, II Scudder International Fund Templeton Emerging Market Fund Templeton Foreign Equity Series The Investment Fund Foundation Vanguard Index Extended Institutional Shares Vanguard Institutional Index Fund Vanguard International European Portfolio Vanguard International Pacific Portfolio Vanguard International Growth Portfolio Vanguard International Value Vanguard Small Capitalization Institional Portfolio Vanguard Windsor Fund Partnership Interest - New Enterpnse Associates TOTAL EQUITY SECURITIES Short-Term Investments December 3l, 1998 Type and Description NASA Federal Credit Union Vanguard Admiral Funds - Short-Term U.S. Treasury Portfolio Vanguard Fixed-Income Securities - Short-Term Corporate Portfolio 258 9 66,309 9,756 1,270 237 132,370 183,626 746,370 580 426,856 473,425 360,976 223,246 335,518 158,376 592,005 920,646 1,128 14 1,344 205 1,270 237 5,425 2,007 8,658 580 14,110 17,899 6,582 2,507 3,358 4,475 14,076 15,219 599 $112,568 $164,502 SCHEDULE 3 ($ in thousands) Interest Rate 5.20% Variable (1) Variable (2) Cost $ 100 17,161 17,013 TOTAL SHORT-TERM INVESTMENTS Current yield on December 31, 1998: (1) 4.81% (2) 5.73% 28 $34,274
