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Treasurer's Statement
Pages 1-6

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From page 1... ... In projecting program level in 2014, we feel that this decline will be NAS Highlights halted and that the program will remain steady at the 2013 level, and possibly a little higher. Endowment, Trust, and Other Long-term Investments Portfolio With respect to the second source of revenue, it has for many years been the policy of the Council to limit annual As the Chairman of the Finance Committee, I am endowment spending to 5% of the average value of responsible, along with the other committee members, for endowment for the twelve quarters ending in June of the the prudent management of the endowment and trust previous year. Read the entire page →
From page 2... ... In gross terms, performance relative to the benchmark was dampened including the returns on investments, the gifts received, primarily by the limited contribution from the venture and the withdrawals made for endowment expenditures, capital, private equity, and multi-strategy hedge funds. the increase in the value of the endowment over DecemOn the positive side, investments in small and mid-size ber 31, 2012 was 9.7%, significantly in excess of inflation U.S. Read the entire page →
From page 3... ... : Expenses: Development Office $ 1,002 2013 2012 Member Services: Revenues: Annual Meeting 737 Subscriptions $ 8,720 $ 6,300 Other 256 Author charges 6,793 6,740 Programs/Projects: Other 28 102 Cultural Programs of the NAS 361 Total $ 15,541 $ 13,142 Evolution, Education & Communication 173 Expenses: Frontiers of Science 279 Publishing $ 8,030 $ 7,123 Committee on International Other 5,708 5,845 Security & Arms Control 219 Total $ 13,738 $ 12,968 InterAcademy Council 137 Foreign Meetings & Other Expenses 597 Net $ 1,803 $ 174 President's Office 33 NAS Executive Office 224 Facilities NRC Operations 819 Total Expenses $ 4,837 NAS owns the following facilities: Surplus $ 353 Keck Center of the National Academies at 500 Fifth St., NW in Washington, D.C. Any surplus in the General Funds Budget at the end of the National Academy of Sciences Building at 2101 year is added to the NAS Reserve; similarly, deficits are Constitution Ave., NW in Washington, D.C. Read the entire page →
From page 4... ... Philanthropic support enables the Academies to Valerie Rowe. Other major gifts were received focus on innovative work that cuts across interdisciplinary from the George Family Foundation, the Carson boundaries and to resolve important national problems Family Charitable Trust, the Ambrose Monell that the government cannot or is not yet ready to sponsor. Read the entire page →
From page 5... ... Environmental Protection Agency 4,209 This support is essential to the Academy's ability to fulfill Executive Office of the President 731 its mission as scientific adviser to the nation and we Government Accountability Office 418 deeply appreciate the philanthropic support from our Institute of Museum and Library Services 148 many donors. Marine Mammal Commission 43 National Aeronautics and Space Administration 7,586 National Geospatial-Intelligence Agency 70 NRC Highlights National Science Foundation 13,127 National Security Agency 39 Revenues National Transportation Safety Board 25 Nuclear Regulatory Commission 961 The two main sources of revenue for the NRC are the Office of the Director of National Intelligence 163 U.S. Read the entire page →
From page 6... ... Total Revenues $ 847.5 $ 370.2 Total Expenses 325.3 347.3 As in many universities and nonprofit institutions, indirect Change in Net Assets $ 522.2 $ 22.9 cost expenditures provide necessary support services and should be kept in reasonable proportion to program Net assets, or assets minus liabilities, can be a expenditures. Historically, NRC management has measurement of a not-for-profit organization's ability to successfully maintained a relatively constant relationship reinvest net income toward their mission while also between program and support costs, i.e., the growth rate maintaining reserves and helping protect against inflation. Read the entire page →

From page 1...

... In projecting program level in 2014, we feel that this decline will be NAS Highlights halted and that the program will remain steady at the 2013 level, and possibly a little higher. Endowment, Trust, and Other Long-term Investments Portfolio With respect to the second source of revenue, it has for many years been the policy of the Council to limit annual As the Chairman of the Finance Committee, I am endowment spending to 5% of the average value of responsible, along with the other committee members, for endowment for the twelve quarters ending in June of the the prudent management of the endowment and trust previous year.

Read the entire page →

From page 2...

... In gross terms, performance relative to the benchmark was dampened including the returns on investments, the gifts received, primarily by the limited contribution from the venture and the withdrawals made for endowment expenditures, capital, private equity, and multi-strategy hedge funds. the increase in the value of the endowment over DecemOn the positive side, investments in small and mid-size ber 31, 2012 was 9.7%, significantly in excess of inflation U.S.

Read the entire page →

From page 3...

... : Expenses: Development Office $ 1,002 2013 2012 Member Services: Revenues: Annual Meeting 737 Subscriptions $ 8,720 $ 6,300 Other 256 Author charges 6,793 6,740 Programs/Projects: Other 28 102 Cultural Programs of the NAS 361 Total $ 15,541 $ 13,142 Evolution, Education & Communication 173 Expenses: Frontiers of Science 279 Publishing $ 8,030 $ 7,123 Committee on International Other 5,708 5,845 Security & Arms Control 219 Total $ 13,738 $ 12,968 InterAcademy Council 137 Foreign Meetings & Other Expenses 597 Net $ 1,803 $ 174 President's Office 33 NAS Executive Office 224 Facilities NRC Operations 819 Total Expenses $ 4,837 NAS owns the following facilities: Surplus $ 353 Keck Center of the National Academies at 500 Fifth St., NW in Washington, D.C. Any surplus in the General Funds Budget at the end of the National Academy of Sciences Building at 2101 year is added to the NAS Reserve; similarly, deficits are Constitution Ave., NW in Washington, D.C.

Read the entire page →

From page 4...

... Philanthropic support enables the Academies to Valerie Rowe. Other major gifts were received focus on innovative work that cuts across interdisciplinary from the George Family Foundation, the Carson boundaries and to resolve important national problems Family Charitable Trust, the Ambrose Monell that the government cannot or is not yet ready to sponsor.

Read the entire page →

From page 5...

... Environmental Protection Agency 4,209 This support is essential to the Academy's ability to fulfill Executive Office of the President 731 its mission as scientific adviser to the nation and we Government Accountability Office 418 deeply appreciate the philanthropic support from our Institute of Museum and Library Services 148 many donors. Marine Mammal Commission 43 National Aeronautics and Space Administration 7,586 National Geospatial-Intelligence Agency 70 NRC Highlights National Science Foundation 13,127 National Security Agency 39 Revenues National Transportation Safety Board 25 Nuclear Regulatory Commission 961 The two main sources of revenue for the NRC are the Office of the Director of National Intelligence 163 U.S.

Read the entire page →

From page 6...

... Total Revenues $ 847.5 $ 370.2 Total Expenses 325.3 347.3 As in many universities and nonprofit institutions, indirect Change in Net Assets $ 522.2 $ 22.9 cost expenditures provide necessary support services and should be kept in reasonable proportion to program Net assets, or assets minus liabilities, can be a expenditures. Historically, NRC management has measurement of a not-for-profit organization's ability to successfully maintained a relatively constant relationship reinvest net income toward their mission while also between program and support costs, i.e., the growth rate maintaining reserves and helping protect against inflation.

Read the entire page →

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Treasurer's Statement Pages 1-6

Treasurer's Statement
Pages 1-6