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Report of the Treasurer to the Council for the Year Ended December 31, 2002 (2003) / Chapter Skim
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Treasurer's Statement
Pages 1-6

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From page 1...
... To achieve this goal, the NAS Council, acting on the recommendation of the Finance Committee, has adopted a spending limitation designed to maintain the purchasing power of the Endowment over time by reinvesting a portion of the annual total investment return. The spending limitation caps the annual spending at 5 percent of the three-year average market value of the participating funds in the investment pool.
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From page 2...
... Included in the $219.4 million total market value of the Endowment and Trust Investment Pool as of Deeember 31, 2002, are the amounts of $35.7 million, $16.9 million, and $5.2 million for the IOM, TNAC, and Woods Hole Endowment Funds, respectively. TNAC denotes The National Academies' Corporation (Beckman Center)
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From page 3...
... In February 2002, the NAS Council authorized management to proceed with planning for Phase 2 of the NRC office building at 500 Fifth Street. If approved, the project would add an eight-story addition in the space above the District of Columbia fire station adjacent to the new building.
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From page 4...
... Agency for International Development Defense Special Weapons Defense Supply Service Department of Agriculture Department of Commerce Department of Defense: Department of the Air Force Department of the Anny Department of Defense Department of the Navy United States Marine Corp Department of Education Department of Energy Department of Health and Human Services Department of Housing and Urban Development Department of the Interior Department of Justice Department of Labor Department of State Department of Transportation Environmental Protection Agency Executive Office of the President Federal Emergency Management Agency Federal Judicial Center General Accounting Office General Services Administration International Broadcasting Bureau National Aeronautics and Space Administration National Science Foundation National Security Agency Nuclear Regulatory Commission Smithsonian Institute Social Security Administration U.S. Postal Service U.S.
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From page 5...
... Although the NAS Endowment and Trust Fund continues to reflect the lackluster performance of the broad domestic and international investment markets, the NAS has the financial discipline and reserves to adjust to the reduced income for 2003. I would like to thank the Council, the Committee on Budget and Internal Affairs, the Finance Committee, and NRC management for their continued input and support.
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Key Terms

  • beckman center
  • investment pool
  • indirect costs
  • office building
  • nas reserve

  • woods hole
  • cynthia mitchell
  • nrc office
  • nonfederal sources
  • development office

  • trust investment
  • nrc programs
  • nonfederal revenue
  • mitchell endowment
  • direct costs

  • nas finance
  • nrc management
  • academies corporation
  • trust fund
  • market value

  • hole endowment
  • award trust
  • engineering fund
  • annual giving
  • nas council

  • executive office
  • spending limitation
  • trust funds
  • challenge grant
  • nrc program


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