Report of the Treasurer for the Year Ended December 31, 2008 (2009) / Chapter Skim
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Treasurer's Statement
Treasurer's Statement
Pages 1-6
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scope of philanthropic support during 2008: Overview ! The NAS received two gifts totaling $2 million from Raymond and Beverly Sackler and their foundation First, we are delighted that we now have on board a new to endow a bilateral scientific forum to be operated Chief Financial Officer for the National Academy of jointly by the NAS and the Royal Society in London.
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2008 2007 planned gifts, such as charitable gift annuities, charitable Cash and Fixed-Income Securities $ 63,624 $ 80,515 remainder trusts, and bequests; and acquiring new Equity Securities 224,398 357,530 endowment gifts and capital gifts to support the planned Total $ 288,022 $ 438,045 restoration of the NAS Building At the beginning of 2008, the Pool consisted of $438.0 Endowment, Trust, and Other Long-term Investments million in assets. During the year, the Pool received Pool contributions of $7.5 million, withdrew funds for programs of $18.0 million, and suffered investment losses With the assistance of the Finance Committee, I am of $139.5 million, resulting in an ending asset balance of responsible for the prudent management of the endow $288.0 million.
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Included in the $288.0 million total market value of Unrestricted Endowment $ 5,638 the Pool as of December 31, 2008, are $5.6 million Woods Hole Endowment 383 for the Woods Hole Endowment Funds, $47.4 million Communications Initiative Fund 206 for the Institute of Medicine (IOM) , and $7.2 million Annual Giving from Members 193 for The National Academies' Corporation (TNAC)
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Since then, the District has advised us that it is undertaking a review of its city-wide property developJournal Publications ment strategy and is currently not interested in discussing development of the fire station property. This has allowed Financial results of the Proceedings of the National us to focus our attention on the NAS Building Restoration Academy of Sciences are shown below for the years ended Project.
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Government Agencies $ 202,810 reasonable proportion to program expenditures, is a continual challenge. Historically, NRC management has In the past ten years, the basic core of NRC programs, successfully maintained a relatively constant relationship which is represented by the government contracts and between program and support costs, i.e., the growth rate grants, has experienced relatively small percentage of indirect costs has been approximately equal to the changes from one year to the next.
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I would like to thank the Council, the Committee on Overall Financial Condition Budget and Internal Affairs, the Finance Committee, and NRC management for their continued input and support. The results of operations, per the NAS Statements of Also, thanks to the Controller's Office for preparation of Activities, are summarized as follows: the financial statements and to all of the finance staff for maintaining strong financial controls and reporting.
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