National Academies Press: OpenBook
« Previous: Treasurer's Statement
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1

Endowment, Trust, and Other Long–term Investments Pool Description of Funds for the Year Ended December 31, 2015 Capital
Contribution
(Column 1 of
Schedule 1–A)
I. Funds that Support the NAS
A. General FundThe following funds provide unrestricted resources to support the activities of the National Academy of Sciences.
Agassiz Fund — A bequest of Alexander Agassiz, a member of the Academy. $ 50,000
Carnegie Fund — The balance of the original contribution of $5,000,000 from the Carnegie Corporation of New York, for the purposes of the National Academy of Sciences/National Research Council. $1,725,000 was used to cover the cost of the 1924 Academy building and the acquisition of other property. 3,275,000
Commonwealth Fund — A grant of the Commonwealth Fund for the capital endowment of the Academy. 500,000
Carl Eckart Fund* — A bequest of Carl Eckart for the general purposes of the Academy. 1,246,366
Ford Foundation Fund — A grant of the Ford Foundation for the capital endowment of the Academy. 5,000,000
Henrietta and Alexander Hollaender Fund* — A bequest of Dr. Alexander and Mrs. Henrietta Hollaender. 500,000
Grayce B. Kerr Fund — A grant from Grayce B. Kerr for the general purposes of the Academy. 250,000
Nealley Fund — A bequest of George True Nealley for the general purposes of the Academy. 19,556
Simon Ramo Fund — A contribution from Simon Ramo for the general purposes of the Academy. 14,000
Rockefeller Foundation Fund* — A grant of the Rockefeller Foundation to the National Academy of Sciences for the general purposes of the Academy. 1,000,000
Dorothea and Herbert Simon Fund — A contribution from Dorothea and Herbert Simon for the general purposes of the Academy. 898,752
Sloan Foundation Fund* — A grant of the Alfred P. Sloan Foundation for the general purposes of the Academy. 1,000,000
Amy Prudden Turner Fund* — A bequest of Amy Prudden Turner for the general purposes of the Academy to serve as a memorial to her husband Scott and herself. 29,662
Anonymous Endowment Fund — A contribution for the general purposes of the Academy from a donor who wishes to remain anonymous. 7,146,660
General Endowment Fund* — A bequest of David Lloyd Fillman and others for the general purposes of the Academy. By action of the Council, the proceeds from the sale of the International Critical Tables were transferred into this fund during fiscal year 1976, and proceeds from the sale of the Audubon Folios were transferred in fiscal year 1981. 4,144,079
Members Endowment Fund — Contributions from Academy members to be used for the general purposes of the Academy. 3,326,184
Subtotal — General Fund $ 28,400,259
B. Woods HoleThe following funds support the operation and maintenance of the J. Eric Jonsson Woods Hole Center in Woods Hole, Massachusetts. The Center is operated as an extension of conference facilities in Washington, D.C. and Irvine, California for meetings of the NAS, NAE, NAM, and NRC.
Peter C. Cornell Trust Fund* — To memorialize Detlev W. Bronk, former president of the Academy, for his contributions to science and the nation and to recognize the leadership and notable accomplishments of John S. Coleman as a member of the Academy’s staff. $ 100,000
J. Erik Jonsson Woods Hole Fund — A contribution for the Woods Hole Study Center of the NAS in honor of J. Erik Jonsson from a donor who wishes to remain anonymous. 2,002,500
Richard King Mellon Foundation Fund — A grant from the Richard King Mellon Foundation for maintenance of the building and grounds at the Woods Hole Study Center. 50,000

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1

Endowment, Trust, and Other Long–term Investments Pool Description of Funds for the Year Ended December 31, 2015 Capital
Contribution
(Column 1 of
Schedule 1–A)
Penzance Foundation Fund — A grant for the J. Erik Jonsson Woods Hole Study Center for support of the property’s Clark Carriage House. 502,500
Woods Hole Endowment — Contributions from the Brown Foundation and various individuals for maintenance of the Woods Hole Study Center. 971,400
Woods Hole Fund — Contributions from various individuals for maintenance of the Woods Hole Study Center. 12,874
Subtotal — Woods Hole $ 3,639,274
C. Presidents' Committee FundsEach of the following funds supports programmatic efforts in areas related to the purpose specified by the fund’s donor(s) awarded by a committee consisting of the NAS, NAE, and NAM Presidents.
Basic Science Fund - Earth Sciences — Contribution from an anonymous donor to match a contribution from the Palisades Geophysical Institution of New York to establish the Maurice Ewing and Planetary Sciences Fund of the National Academy of Sciences. $ 503,231
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. 420,232
Thomas Lincoln Casey Fund — A 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. 258,081
The Coca–Cola Foundation Fund — A grant of the Coca-Cola Foundation to be used for initiatives in precollege science and mathematics education. 50,000
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. 5,047,846
Cecil and Ida Green Fund — A contribution from Cecil and Ida Green to be used to support activities dedicated to improving the quality of life of our people. 467,256
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 from which is used to fund studies and other activities within these program areas such as enhancing the quality of U.S. education, assuring access to quality health care, assessing the role of biotechnology in the future of agriculture, and similar issues as they arise. 20,000,000
Kobelt Fund* — A bequest of Nina I. Kobelt to be used for research scholarships for worthy students. 296,593
Andrew W. Mellon Foundation Fund — A grant from the Andrew W. Mellon Foundation to endow a program of Academy-initiated studies. 1,000,000
George and Cynthia Mitchell Endowment for Sustainability Sciences — A contribution from the George and Cynthia Mitchell Foundation to guide academic, government and other institutions in the development of sustainability science and to encourage the world’s business community to apply knowledge from this new field in business practices. 20,000,000
George and Cynthia Mitchell Matching Endowment* — Contributions from public and private sources to be used to support the same purposes as the George and Cynthia Mitchell Endowment for sustainability sciences and to raise funds to be eligible for a matching contribution from George and Cynthia Mitchell. 114,750
Frank Press Fund for Dissemination and Outreach — Contributions from members of the Presidents’ Circle of the NAS, NAE, and the IOM to support dissemination and outreach activities. 1,167,255

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1

Endowment, Trust, and Other Long–term Investments Pool Description of Funds for the Year Ended December 31, 2015 Capital
Contribution
(Column 1 of
Schedule 1–A)
Scientists and Engineers for the Future Fund — Contribution from an individual who wishes to remain anonymous. The income from this fund is used to support 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. 1,000,000
Subtotal — Presidents' Committee Funds $ 50,325,244
D. Program Specific FundsEach of the following funds supports a specific programmatic purpose as designated by the donor(s).
Arnold and Mabel Beckman Fund of the National Academies of Sciences and Engineering* — A fully expendable fund designated for support of programs at the Beckman Center. The fund was established to receive contributions of unexpended income from The National Academies Corporation (TNAC) operations endowment as well as earnings from the TNAC program endowment. $ 13,495,811
Seymour Benzer Lecture Series — Contribution from Sydney Brenner to establish a free lecture series to increase public understanding of science, engineering, technology and health. 120,000
Billings Fund — A bequest of 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. 50,102
Blakeslee Fund — A bequest of Albert Francis Blakeslee, the income from which is to be used in support of genetics research. 886,902
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. 20,826
Ralph J. and Carol M. Cicerone Endowment for NAS Missions — A contribution from NAS president Ralph Cicerone and his wife Carol to provide support for the Koshland Science Museum of the NAS, the Cultural Programs of the NAS, public lectures of the NAS, or other purposes on behalf of the NAS. 100,000
Cultural Programs of the National Academy of Sciences Fund — Contributions from various sources for sponsoring free cultural programs for local residents and for providing a platform for musicians and artists. 62,384
Henry and Bryna David Endowment — A bequest of Henry and Bryna David to support the communication of insights and discoveries from the social and behavioral sciences to policy makers and other decision makers to promote informed public policy and staff development. 850,000
Food and Nutrition Board (FNB) Fund — A grant for core activities of the Food and Nutrition Board and a matching amount from the Kaiser Family Foundation for general core support of the Institute of Medicine. 525,350
Food and Nutrition Board Corporations Fund — Contributions from Monsanto Company and Nestle, USA, Inc., to provide support for FNB activities. 125,000
Food and Nutrition Board Members Fund — Contributions from members to be used for general purposes of the Food and Nutrition Board. 6,900
Global Commons Project Fund 39,058
Frederic L. Hoch Fund — A bequest of Frederic L. Hoch to provide grants to women studying in the sciences. 50,000
Marian Koshland Science Museum Fund* — Contributions from Dr. Daniel E. Koshland, Jr. and the Koshland Foundation to fund the operation and activities of the museum for the purpose of extending the resources of the National Academies and increasing public understanding of the nature and value of science. 22,793,243

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1

Endowment, Trust, and Other Long–term Investments Pool Description of Funds for the Year Ended December 31, 2015 Capital
Contribution
(Column 1 of
Schedule 1–A)
Bruce Alberts Fund of the Marian Koshland Science Museum* — Contributions from Dr. Daniel E. Koshland, Jr. and the Koshland Foundation to support the traveling costs of the museum's exhibits, to fund new exhibits to replace traveling exhibits, and to extend the museum's outreach to school districts. 5,134,871
Christine Mirzayan Fellowship Fund — A program designed to engage graduate students in various fields in the analysis and creation of science and technology policy. 5,760
NAS Members Endowment(s) — NAS members’ contributions that have been designated for special purposes, such as the Board on Chemical Sciences Fund and the Section 14 Chemistry Discretionary Fund. 58,941
National Science Resources Center (NSRC) Fund* — Royalty revenues from elementary and middle school science kits developed by the NSRC to provide core support of NSRC programs to enhance and improve the learning and teaching of science in domestic and international schools. 4,986,473
New Canaan Library Fund — Contribution from the Board of the New Canaan Library to permanently maintain a current National Academies book collection at the library in honor of Dr. H.R. Shepherd. 4,000
Kumar and Shela Patel Endowment for US–India Dialogs — Contributions from Kumar and Shela Patel to support US-India scientific and technical communication and dialog. 612,500
Arthur M. Sackler Colloquia of the National Academy of Sciences Fund — A contribution from Mrs. Arthur M. Sackler to endow a series of scientific symposia that promote interaction among world–class researchers in rapidly advancing scientific fields. 4,375,000
The Raymond and Beverly Sackler USA–UK Scientific Forum Endowment — A contribution from the Raymond and Beverly Sackler Foundation to endow a bilateral scientific forum to forge a partnership between the scientific leadership of the United Kingdom and the United States through conferences and meetings on topics of immediate and future scientific concern. 2,025,108
Raymond and Beverly Sackler Science Fund — A contribution from Raymond and Beverly Sackler to provide support for studies and projects in the areas of basic biology and of biomedical science – including the convergence of biology, physics, mathematics, and engineering sciences – in addressing problems in biomedical science and human health 2,000,000
U.S. National Committee for the International Astronomical Union (USNC/IAU) Fund* — Contributions from USNC/IAU to support participation by U.S. astronomers in the activities of the International Astronomical Union Triennial General Assemblies. 100,000
Subtotal – Program Specific Funds $ 58,428,229
E. Prizes and AwardsThe following funds support prizes or awards presented in various scientific fields as designated by the donor(s).
American Psychological Association (APA) Science Directorate Fund — A contribution from the APA to conduct activities that will help inform the public of the knowledge base, value, and importance of behavioral science research. $ 30,000
Henryk Arctowski Fund — A 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. 95,736
Richard C. Atkinson Fund — A contribution of Richard C. Atkinson to establish the National Academy of Sciences Prize in Psychological and Cognitive Sciences to be awarded for significant advances in the psychological and cognitive sciences with important implications for formal and systematic theory in these fields. 3,151,478
Bache Fund — A bequest of Alexander Dallas Bache to aid research in the physical and natural sciences. 60,000
Edward and Marianne Blaauw Fund — A bequest of Marianne Blaauw to support research in the field of ophthalmology. 71,299

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1

Endowment, Trust, and Other Long–term Investments Pool Description of Funds for the Year Ended December 31, 2015 Capital
Contribution
(Column 1 of
Schedule 1–A)
John J. Carty Fund — A contribution of the American Telephone and Telegraph Company in recognition of John J. Carty for a gold medal and award for noteworthy and distinguished accomplishments in any field of science. 25,000
Comstock Fund — A contribution of Cyrus B. Comstock for a prize for notable investigations in electricity, magnetism, or radiant energy. 10,400
Draper Fund — A contribution 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 — A contribution of Margaret Henderson Elliot for the most meritorious work on zoology and paleontology published in each year. 8,000
Estes Award in Social and Behavioral Sciences — A contribution 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 Division of Behavioral and Social Sciences and Education. 79,849
Gibbs Brothers Fund — A contribution from William Francis Gibbs and Frederic H. Gibbs for outstanding contributions in the field of naval architecture and marine engineering. 24,000
Gibbs Fund — A contribution from Wolcott Gibbs and increased by a bequest of Morris Loeb for the promotion of research in chemistry. 5,274
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 — A contribution and a bequest of Alice Bache Gould in memory of her father for the promotion of research in astronomy, increased by a bequest of Elizabeth Chandler Hockley. 50,000
Michael and Sheila Held Prize in Mathematical Programming — A bequest of Michael and Sheila Held for achievement in mathematical programming. 3,975,000
Joseph Henry Fund — Contributions by Fairman Rogers, Joseph Patterson, George W. Childs, and others in honor of Joseph Henry to assist meritorious investigators of original research. 39,740
Alexander Hollaender Award in Biophysics — A bequest of Alexander Hollaender for a prize to an outstanding biophysicist. 100,000
Hunsaker Fund — A contribution of Mr. and Mrs. J. C. Hunsaker to found an Academy award in the field of aeronautical engineering. 24,750
Franklin Livingston Hunt Fund — A bequest of Franklin Livingston Hunt to aid research in physics, chemistry, and preventive medicine. 10,465
Kovalenko Fund — A contribution of Michael S. Kovalenko, in memory of his wife, to found the Jessie Stevenson Kovalenko Gold Medal for meritorious research in medical sciences. 102,985
Marsh Fund — A bequest of Othniel Charles Marsh to promote original research in the natural sciences. 10,000
George P. Merrill Fund — A contribution of Mrs. George P. Merrill for studies of meteors, meteorites, and space. 10,000
Stanley Miller Award* — A bequest of Stanley L. Miller for work or contributions to early earth studies. 204,554
Monsanto Award in Molecular Biology — A grant from the Monsanto Company for contributions in the field of molecular biology. 421,374
Murray Fund — A contribution of Sir John Murray in honor of Alexander Agassiz for original contributions to the science of oceanography. 6,000
National Academy of Sciences Award in Chemical Sciences — A contribution of The Merck Company Foundation for distinction in research and broad fundamental impact in pure chemistry. 478,277
National Academy of Sciences Award for Chemistry in Service to Society — A contribution of the E. I. DuPont de Nemours & Company for contributions to chemistry, whether in fundamental science or its applications, that clearly satisfy a societal need. 181,838
National Academy of Sciences Award in Mathematics — A contribution of the American Mathematical Society for achievements in mathematics. 53,597

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1

Endowment, Trust, and Other Long–term Investments Pool Description of Funds for the Year Ended December 31, 2015 Capital
Contribution
(Column 1 of
Schedule 1–A)
National Academy of Sciences Award in Neuroscience — A contribution of the Fidia Research Foundation for achievements in neuroscience. 140,206
National Academy of Sciences Fund for Sciences and Technology in International Affairs — Contributions from Cecil and Ida Green, J. Erik Jonsson, and Jerome B. Wiesner and others in honor of Walter A. Rosenblith. 59,119
Pradel Fund — A bequest of Jules Pradel to be applied to work on the human central nervous system and allied subjects. 16,392
H. P. Robertson Lectureship Fund — Contributions by friends of H. P. Robertson for the Robertson Memorial Lecture of the National Academy of Sciences. 20,325
Raymond and Beverly Sackler Convergence Research Prize Fund — A contribution from Dr. Raymond R. Sackler and Beverly Sackler to establish a Prize to recognize significant advances by a group or individual in convergence research in two or more among the disciplines of mathematics, physics, chemistry, biomedicine, biology, astronomy, earth sciences, engineering and computational science. 10,000,000
John P. Schaefer Fund — A contribution from the Research Corporation for Science Advancement to create the National Academy of Sciences Award for Scientific Discovery, in honor of John P. Schaefer for basic research. 1,500,000
Helen P. Smith Fund — A bequest of Helen P. Smith in memory of her husband, Gilbert Morgan Smith for published research in marine and freshwater algae. 67,107
Mrs. J. Lawrence Smith Fund — A contribution of Mrs. J. Lawrence Smith in memory of her husband for important investigations of meteoric bodies and to assist, by grants of money, research concerning such objects. 8,000
Thompson Fund — A contribution of Mary Clark Thompson for important services to geology and paleontology. 10,000
Troland Fund — A bequest of Leonard T. Troland for the advancement of scientific knowledge in the field of psychophysics. 505,359
Selman A. Waksman Award Fund — A contribution from the Waksman Foundation for Microbiology to establish an award to be given biennially to an individual responsible for significant advances in the field of microbiology. 390,000
Walcott Fund — A contribution of Mary Vaux Walcott in honor of her husband for Cambrian or pre-Cambrian life and its history. 5,000
G. K. Warren Fund — A contribution of Emily B. Warren in memory of her father for achievements in any field of science. 15,000
Watson Fund — A bequest of James Craig Watson for the promotion of astronomical sciences and grants in aid of research. 25,000
Subtotal — Prizes and Awards $ 22,176,170
F. Reserve FundsThe following funds are invested in the long-term investment pool to provide for future unanticipated funding needs.
National Academy of Sciences Reserve Fund* — Accumulated surplus from NAS General Fund operating budget. $ 6,655,608
Proceedings of the National Academy of Sciences (PNAS) Fund * 1,000,000
Transportation Research Board (TRB) Reserve Fund* — Income in excess of expenditures for TRB core support activities in a fiscal year. 1,500,000
Subtotal — Reserve Funds $ 9,155,608
Subtotal — Funds that Support the NAS $ 172,124,784

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1

Endowment, Trust, and Other Long–term Investments Pool Description of Funds for the Year Ended December 31, 2015 Capital
Contribution
(Column 1 of
Schedule 1–A)
II. Funds that Support the NAM
A. General FundsThe following funds provide unrestricted resources to support the activities of the National Academy of Medicine.
H. Fineberg and M. Wilson Fund — A contribution by Harvey V. Fineberg and Mary E. Wilson to be used at the discretion of the president of the National Academy of Medicine to increase the impact of its activities and of the joint program with the National Academy of Sciences and National Academy of Engineering. $ 96,500
General Endowment Fund — Contributions from various sources, including members of the National Academy of Medicine, for capital endowment of the National Academy of Medicine. 1,137,182
Robert Wood Johnson Foundation Fund — A grant from the Robert Wood Johnson Foundation for core support of the National Academy of Medicine. 5,000,000
Henry J. Kaiser Family Foundation Fund — A contribution of the Hentry J. Kaiser Family Foundation for core activities of the National Academy of Medicine. 488,485
National Academy of Medicine Kellogg Fund* — A grant from the Kellogg Foundation for the general purposes of the National Academy of Medicine. 282,500
National Academy of Medicine Members’ Dues * 197,500
John D. and Catherine T. MacArthur Foundation Fund — A grant to the endowment of the National Academy of Medicine, the income from which is restricted to the general purposes of the Academy. 5,000,000
Pharmaceutical Discretionary Fund* — A grant from the W. K. Kellogg Foundation to further the National Academy of Medicine’s long-range program development. 480,000
Pharmaceutical Endowment Fund — Contributions of $250,000 from Glaxo, Inc., and $10,000 from Eli Lilly Company for the general purposes of the National Academy of Medicine. 259,448
Miscellaneous Private Sector Fund — Contributions from Kaiser Permanente for core support of the National Academy of Medicine. 26,346
Subtotal — General Funds $ 12,967,961
B. Program Specific FundsEach of the following funds supports a specific programmatic purpose as designated by the donor(s).
American Board of Emergency Medicine (ABEM) Fellowship Fund — A contribution from the American Board of Emergency Medicine for early career health science scholars in the field of emergency medicine to participate in the NAM study process as part of NAM’s Anniversary Fellows program. $ 750,000
Distinguished Scholar Fund — A contributions from NAM members for one or more persons of senior caliber to spend a p eriod of time at the NAM in scholarly pursuits related to key program initiatives. 16,550
Norman F. Gant, M.D. and American Board of Obstetrics and Gynecology Fellowship Fund — A contribution from the American Board of Obstetrics and Gynecology for an early career health scientist in the field of obstetrics and gynecology, as part of NAM’s Anniversary Fellows program. 650,500
Greenwall Fellowship in Bioethics — A contribution from the Greenwall Foundation to support a two-year fellowship at the National Academy of Medicine for an early career scholar in the field of bioethics. 750,000
David and Beatrix Hamburg Endowment Fund — Contributions from individuals for communication and dissemination programs, collaborations among key public health stakeholders, and forward-looking studies. 1,012,775
Howard Hughes Medical Institute Fund — A contribution from the Howard Hughes Medical Institute for a program of studies to foster the translation of science into advances in health. 5,000,000

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1

Endowment, Trust, and Other Long–term Investments Pool Description of Funds for the Year Ended December 31, 2015 Capital
Contribution
(Column 1 of
Schedule 1–A)
Robert Wood Johnson Foundation Culture of Health Program* — A grant from the Robert Wood Johnson Foundation to support programs and activities in the National Academy of Medicine related to the Culture of Health. 5,000,000
Kellogg Health of the Public Fund — A contribution from the W.M. Kellogg Foundation to advance the National Academy of Medicine's capacity to contribute to the improvement of the health of America's communities. 5,000,000
Kellogg Health of the Public Fund Matching Contributions — Contributions in response to the W.M. Kellogg Foundation’s challenge grant to support communication and outreach activities. 2,572,544
Omenn Fellowship Fund — A contribution from Gilbert S. Omenn and Martha Darling for early career health science scholars in the fields of biomedical science and population health to participate in the NAM study process as part of NAM’s Anniversary Fellows program. 752,805
Osteopathic Medicine Fellow Fund — Contributions from the American Osteopathic Association, the American Association of Colleges of Osteopathic Medicine, and the American Osteopathic Foundation for early career health science scholars in the field of osteopathic medicine to participate in the NAM study process as part of NAM’s Anniversary Fellows program. 499,999
Pharmacy Fellowship Fund — Contributions from the American Association of Colleges of Pharmacy and the American College of Clinical Pharmacy for early career health science scholars from the pharmaceutical and clinical sciences to participate in the NAM study process as part of NAM’s Anniversary Fellows program. 750,000
James C. Puffer / ABFM Fund — A contribution from the American Board of Family Medicine for early career health science scholars in the field of family medicine to participate in the NAM study process as part of the NAM’s Anniversary Fellows program. 750,000
Richard and Hinda Rosenthal Lecture Series — A contribution from the Richard and Hinda Rosenthal Foundation for a lecture series to bring greater attention to some of the critical health policy issues facing the country. 1,000,000
Leonard D. Schaeffer Fund — A contribution from Leonard D. Schaeffer to establish an endowed position in the Executive Office of the National Academy of Medicine. 2,020,684
Women’s Health Issues Fund — A contribution from Syntex (U.S.A.), Inc., to be used for purposes related to women’s health issues. 20,000
Subtotal — Program Specific Funds $ 26,545,857
C. Prizes and AwardsThe following funds support prizes or awards presented in various fields as designated by the donor(s).
Gustav O. Lienhard Award — A grant from the Robert Wood Johnson Foundation for an outstanding contribution to the advancement of health care. $ 1,200,000
Sandra H. Matthews Cecil Award* — For a current or former administrative support staff member who has made a significant and sustained contribution to developing and maintaining efficient, effective, and service oriented support for the membership or program activities. 153,175
Rhoda and Bernard G. Sarnat International Prize in Mental Health — A grant from Rhoda and Bernard G. Sarnat for distinguished accomplishments in the field of mental health. 1,009,179
Subtotal — Prizes and Awards $ 2,362,354

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1

Endowment, Trust, and Other Long–term Investments Pool Description of Funds for the Year Ended December 31, 2015 Capital
Contribution
(Column 1 of
Schedule 1–A)
D. Reserve FundsThe following funds are invested in the long-term investment pool to provide for future unanticipated funding needs.
NAM Reserve Fund* — Unexpended balance of endowment earnings based on NAM Council spending plan. $ 500,000
Subtotal — Reserve Funds $ 500,000
Subtotal — Funds that Support the NAM $ 42,376,172
Subtotal — NAS and NAM Funds $ 214,500,956
III. FUNDS HELD ON BEHALF OF OTHERS
A. The National Academies' Corporation (TNAC)
Operations Endowment An endowment from the Arnold and Mabel Beckman Foundation to TNAC to support operations of the Beckman Center in Irvine, California. The endowment is held on behalf of TNAC and invested by the NAS. $ 8,000,000
Program Endowment — An endowment from the Arnold and Mabel Beckman Foundation to TNAC to support NRC program activities conducted in whole or in part at the Beckman Center. The endowment is held on behalf of TNAC and invested by the NAS. 1,939,644
Subtotal — The National Academies’ Corporation $ 9,939,644
TOTAL $ 224,440,600

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1-A

Endowment, Trust, and Other Long-term Investments Pool
Financial Detail of Funds for the Year Ended December 31, 2015

(Dollars in thousands)
Capital Contributions as of Dec. 31, 2015 Market Value at Dec. 31, 2014 2015 Contributions 2015 Investment Loss 2015 Expenditures & Transfers Market Value at Dec. 31, 2015
I. Funds that Support the NAS
A. General Fund
Agassiz Fund $ 50 $ 550 $ - $ (6) $ (24) $ 520
Carnegie Fund 3,275 38,029 - (386) (1,659) 35,984
Commonwealth Fund 500 2,469 - (25) (108) 2,336
Carl Eckart Fund * 1,246 2,513 - (25) (110) 2,378
Ford Foundation Fund 5,000 24,273 - (246) (1,059) 22,968
Henrietta and Alexander Hollaender Fund * 500 1,084 - (11) (47) 1,026
Grayce B. Kerr Fund 250 543 - (6) (24) 513
Nealley Fund 20 218 - (2) (9) 207
Simon Ramo Fund 14 36 - (1) (1) 34
Rockefeller Foundation Fund * 1,000 4,922 - (49) (215) 4,658
Dorothea and Herbert Simon Fund 899 1,441 - (15) (61) 1,365
Sloan Foundation Fund * 1,000 4,906 - (50) (214) 4,642
Amy Prudden Turner Fund * 30 124 - (1) (5) 118
Anonymous Endowment Fund 7,147 15,771 - (160) (688) 14,923
General Endowment Fund * 4,144 9,919 100 (102) (378) 9,539
General Endowment Fund 454 560 - (6) (24) 530
Members Endowment Fund 2,871 5,509 15 (56) (240) 5,228
$ 28,400 $    112,867 $ 115 $ (1,147) $ (4,866) $ 106,969
B. Woods Hole
Peter C. Cornell Trust Fund * $ 100 $ 260 $ - $ (3) $ (11) $ 246
J. Erik Jonsson Woods Hole Fund 2,003 4,500 - (46) (196) 4,258
Richard King Mellon Foundation Fund 50 190 - (2) (8) 180
Penzance Foundation Fund 502 1,131 - (11) (50) 1,070
Woods Hole Endowment Fund 971 1,301 - (13) (57) 1,231
Woods Hole Fund 13 39 - - (2) 37
$ 3,639 $ 7,421 $ - $ (75) $ (324) $ 7,022
C. Presidents' Committee Funds
Basic Science Fund - Earth Sciences $ 503 $ 1,538 $ - $ (15) $ (122) $ 1,401
Biology and Biotechnology Fund 420 954 - (8) (94) 852
Thomas Lincoln Casey Fund 258 6,301 - (62) (266) 5,973
The Coca-Cola Foundation Fund 50 71 - (1) - 70
Arthur L. Day Fund 5,048 19,533 - (196) (496) 18,841
Cecil and Ida Green Fund 467 1,662 - (17) (46) 1,599
W. K. Kellogg Foundation Fund 20,000 45,225 - (440) (1,647) 43,138
Kobelt Fund * 297 2,049 - (18) (122) 1,909
Andrew W. Mellon Foundation Fund 1,000 1,675 - (18) (9) 1,648
George and Cynthia Mitchell Endowment for Sustainability Sciences 20,000 27,376 - -
(281)
-
(652)
26,443
George and Cynthia Mitchell Matching Endowment * 115 179 - (2) - 177
Frank Press Fund for Dissemination and Outreach 1,167 2,312 - (23) (98) 2,191
Scientists and Engineers for the Future Fund 1,000 1,692 - (18) (14) 1,660
$ 50,325 $ 110,567 $ - $ (1,099) $ (3,566) $ 105,902

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1-A

Endowment, Trust, and Other Long-term Investments Pool
Financial Detail of Funds for the Year Ended December 31, 2015

(Dollars in thousands)
Capital Contributions as of Dec. 31, 2015 Market Value at Dec. 31, 2014 2015 Contributions 2015 Investment Loss 2015 Expenditures & Transfers Market Value at Dec. 31, 2015
D. Program Specific Funds
Arnold and Mabel Beckman Fund of the NAS and NAE * $ 13,496 $ 1,046 $ - $ (1) $ (261) $ 784
Seymour Benzer Lecture Series 120 155 - (1) (1) 153
Billings Fund 50 1,181 - (13) (2) 1,166
Blakeslee Fund 887 2,475 - (23) (101) 2,351
Henry G. Booker Fellowship Fund 21 73 - (1) - 72
Ralph J. and Carol M. Cicerone Endowment for NAS Missions 100 100 - (1) - 99
Communications Initiative Fund * - 3,506 - (36) (153) 3,317
Cultural Programs of the NAS Fund 62 79 11 (1) - 89
Henry and Bryna David Endowment 850 1,448 - (15) (35) 1,398
Food and Nutrition Board Fund 525 1,979 - (21) (21) 1,937
Food and Nutrition Board Corporations Fund 125 572 - (6) (1) 565
Food and Nutrition Board Members Fund 7 33 1 - - 34
Global Commons Project Fund 39 214 - (2) - 212
Frederic L. Hoch Fund 50 60 - (1) - 59
Marian Koshland Science Museum Fund * 22,793 19,556 - (189) (953) 18,414
Bruce Alberts Fund of the Marian Koshland Science Museum * 5,135 8,031 - (82) (290) 7,659
Christine Mirzayan Fellowship Fund 6 8 - - - 8
NAS Members Endowment(s) 59 368 - (4) - 364
National Science Resources Center Fund * 4,986 6,321 - (67) (285) 5,969
New Canaan Library Fund 4 14 - - - 14
Kumar and Shela Patel Endowment for US-India Dialogs 613 883 2 (9) (47) 829
Arthur M. Sackler Colloquia of the NAS Fund 4,375 6,328 - (54) (466) 5,808
The Raymond and Beverly Sackler USA-UK Scientific Forum Endowment 2,025 2,253 - (24) (4) 2,225
Raymond and Beverly Sackler Science Fund 2,000 2,619 - (28) (4) 2,587
U.S. National Committee for the International Astronomical Union (USNC/IAU) Fund * 100 211 - - (2) - (13) 196
$ 58,428 $ 59,513 $ 14 $ (581) $ (2,637) $ 56,309
E. Prizes and Awards
American Psychological Association (APA) Science Directorate Fund $ 30 $ 84 $ - $ (1) $ - $ 83
Henryk Arctowski Fund 96 4,063 - (40) (95) 3,928
Richard C. Atkinson Fund 3,152 3,705 - (40) (2) 3,663
Bache Fund 60 421 - (4) (34) 383
Blaauw Fund 71 919 - (9) (73) 837
John J. Carty Fund 25 799 - (9) (2) 788
Comstock Fund 10 956 - (10) (1) 945
Draper Fund 6 384 - (4) (1) 379
Elliot Fund 8 191 - (2) - 189
Estes Award in Social and Behavioral Sciences 80 263 - (2) (27) 234
Gibbs Brothers Fund 24 257 - (3) - 254
Gibbs Fund 5 172 - (2) (14) 156
Ralph E. Gomory Award for the Application of Science 179 580 - (6) - 574
Gould Fund 50 759 - (8) (60) 691
Michael and Sheila Held Prize in Mathematical Programming 3,975 810 3,175 (57) - 3,928
Joseph Henry Fund 40 493 - (5) (39) 449

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1-A

Endowment, Trust, and Other Long-term Investments Pool
Financial Detail of Funds for the Year Ended December 31, 2015

(Dollars in thousands)
Capital Contributions as of Dec. 31, 2015 Market Value at Dec. 31, 2014 2015 Contributions 2015 Investment Loss 2015 Expenditures & Transfers Market Value at Dec. 31, 2015
Alexander Hollaender Award in Biophysics $ 100 $ 346 $ - $ (4) $ (1) $ 341
Hunsaker Fund 25 524 - (5) (57) 462
Franklin Livingston Hunt Fund 10 309 - (3) (1) 305
Kovalenko Fund 103 1,754 36 (18) (4) 1,768
Marsh Fund 10 216 - (2) (17) 197
George P. Merrill Fund 10 709 - (7) (57) 645
Stanley Miller Award * 205 259 - (3) (1) 255
Monsanto Award in Molecular Biology 421 1,185 - (11) (39) 1,135
Murray Fund 6 171 - (2) - 169
NAS Award in Chemical Sciences 478 634 - (6) (23) 605
NAS Award for Chemistry in Service to Society 182 390 -
-
(3) (29) 358
NAS Award in Mathematics 54 64 - (1) - 63
NAS Award in Neuroscience 140 568 (6) (2) 560
NAS Fund for Sciences and Technology
in International Affairs 59 289 10 (4) - 295
Pradel Fund 16 2,027 - (19) (64) 1,944
H. P. Robertson Lectureship Fund 20 384 - (4) (1) 379
Raymond and Beverly Sackler Convergence Research Prize Fund 10,000 - 10,000 (126) (454) 9,420
John P. Schaefer Fund 1,500 1,558 - (13) (1) 1,544
Helen P. Smith Fund 67 761 - (5) (64) 692
Mrs. J. Lawrence Smith Fund 8 831 - (6) (59) 766
Thompson Fund 10 258 - (2) (20) 236
Troland Fund 506 4,926 - (45) (177) 4,704
Selman A. Waksman Award Fund 390 - 390 (2) - 388
Walcott Fund 5 73 - (1) - 72
G. K. Warren Fund 15 206 - (2) (1) 203
Watson Fund 25 1,613 - (17) (3) 1,593
$ 22,176 $ 34,911 $ 13,611 $ (519) $ (1,423) $ 46,580
F. Reserve Funds
National Academy of Sciences Reserve Fund * $ 6,656 $ 5,316 $ - $ (57) $ (25) $ 5,234
Proceedings of the National Academy of Sciences (PNAS) Fund * 1,000 1,450 - (16) (2) 1,432
Transportation Research Board (TRB) Reserve Fund * 1,500 2,948 - (32) (4) 2,912
Due to (from) National Academy of Sciences * - (703) 825 - (147) (25)
$ 9,156 $ 9,011 $ 825 $ (105) $ (178) $ 9,553
Subtotal — Funds that Support the NAS $ 172,124 $ 334,290 $ 14,565 $ (3,526) $ (12,994) $ 332,335
II. Funds that Support the NAM
A. General Funds
H. Fineberg and M. Wilson Fund $ 97 $ - $ 97 $ - $ - $ 97
General Endowment Fund 1,137 2,048 - (16) (155) 1,877
Robert Wood Johnson Foundation Fund 5,000 11,798 - (93) (816) 10,889
Henry J. Kaiser Family Foundation Fund 488 922 - (8) (64) 850
NAM Kellogg Fund * 283 647 - (5) (43) 599
NAM Members' Dues * 198 435 - (4) (15) 416
John D. and Catherine T. MacArthur Foundation Fund 5,000 11,668 - (90) (809) 10,769
Pharmaceutical Discretionary Fund * 480 1,154 - (9) (77) 1,068
Pharmaceutical Endowment Fund 259 558 - (4) (39) 515
Miscellaneous Private Sector Fund 26 65 - (1) (4) 60
$ 12,968 $ 29,295 $ 97 $ (230) $ (2,022) $ 27,140

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 1-A

Endowment, Trust, and Other Long-term Investments Pool
Financial Detail of Funds for the Year Ended December 31, 2015

(Dollars in thousands)
Capital Contributions as of Dec. 31, 2015 Market Value at Dec. 31, 2014 2015 Contributions 2015 Investment Loss 2015 Expenditures & Transfers Market Value at Dec. 31, 2015
B. Program Specific Funds
American Board of Emergency Medicine (ABEM) Fellowship Fund $ 750 $ 754 $ - $ (7) $ 1 $ 748
Distinguished Scholar Fund 17 90 - (1) - 89
Norman F. Gant, M.D. and American Board of Obstetrics and Gynecology Fellowship Fund 650 914 - (9) 9 914
Greenwall Fellowship in Bioethics 750 - 750 (34) (23) 693
David and Beatrix Hamburg Endowment Fund 1,013 1,666 - (18) (3) 1,645
Howard Hughes Medical Institute Fund 5,000 18,403 - (181) (2,916) 15,306
Robert Woods Johnson Culture of Health Program * 5,000 - 5,000 (232) - 4,768
Kellogg Health of the Public Fund 5,000 7,039 - (71) (192) 6,776
Kellogg Health of the Public Fund Matching Contributions 2,573 3,968 - (44) (48) 3,876
Omenn Fellowship Fund 753 864 - (10) 16 870
Osteopathic Medicine Fellow Fund 500 213 250 (18) 64 509
Pharmacy Fellowship Fund 750 788 112 (14) (51) 835
James C. Puffer / ABFM Fund 750 975 - (10) (9) 956
Richard and Hinda Rosenthal Lecture Series 1,000 1,583 - (17) (39) 1,527
Leonard D. Schaeffer Fund 2,021 2,379 - (26) (3) 2,350
Women's Health Issues Fund 20 103 - (1) - 102
$ 26,547 $ 39,739 $ 6,112 $ (693) $ (3,194) $ 41,964
C. Prizes and Awards
Gustav O. Lienhard Award $ 1,200 $ 5,057 $ - $ (46) $ (680) $ 4,331
Sandra H. Matthews Cecil Award * 153 184 - (2) (5) 177
Rhoda and Bernard G. Sarnat
International Prize in Mental Health 1,009 1,680 - (17) (56) 1,607
$ 2,362 $ 6,921 $ - $ (65) $ (741) $ 6,115
D. Reserve Funds
NAM Reserve Fund * $ 500 $ 1,161 $ - $ (12) $ (1) $ 1,148
Subtotal — Funds that Support the NAM $ 42,377 $ 77,116 $ 6,209 $ (1,000) $ (5,958) $ 76,367
Subtotal — NAS and NAM Funds $ 214,501 $ 411,406 $ 20,774 $ (4,526) $ (18,952) $ 408,702
III. Funds Held on Behalf of Others
A. The National Academies' Corporation
Operations Endowment $ 8,000 $ 9,015 $ - $ (108) $ (365) $ 8,542
Program Endowment 1,940 2,197 - (28) (91) 2,078
Building Maintenance Reserve * - 371 - (6) 194 559
$ 9,940 $ 11,583 $ - $ (142) $ (262) $ 11,179
TOTAL $ 224,441 $ 422,989 $ 20,774 $ (4,668) $ (19,214) $ 419,881

* Denotes funds for which the contribution was not permanently restricted by the donor

Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×

SCHEDULE 2-A

Endowment, Trust, and Other Long-term Investments Pool
Change in Valuation and Market Value Summary

Change in Valuation from 12/31/14 to 12/31/15
(Dollars in Thousands)

Market Value at 12/31/14 $ 422,989
Realized Capital Gain 6,464
Unrealized Capital Loss (18,461)
Reinvested Income 7,329
Contributions 20,774
Expenditures and Transfers (19,214)
Market Value at 12/31/15 $ 419,881

Holdings and Market Value Summary as of 12/31/15
(Dollars in Thousands)

U.S. Large Equity
Berkshire Hathaway A $ 28,088
Berkshire Hathaway B 59
Vanguard Institutional Index 5,499
Vanguard Precious Metals & Mining 2,446
Materials Select Sector SPDR 4,965
Vanguard Energy Fund 2,610
Renaissance Inst'l Equities (long-short) 25,365
Maverick Fund Ltd. (long-short) 25,490
Subtotal $ 94,522
U.S. Small/Mid Equity
SPDR S&P Biotech ETF $ 15,280
Vanguard Extended Market Index 20,059
Vanguard Small Cap Index 9,458
Waters Corp 1,175
Dunkin Brands Group, Inc 894
Subtotal $ 46,866
Non-U.S. Equity (Developed)
Dodge & Cox International $ 9,227
Driehaus International Discovery 13,294
Templeton Institutional 9,924
Vanguard Pacific Stock Index 7,006
Vanguard International Growth 11,249
Vanguard International Value 9,790
Matthews Asia Dividend Fund 3,257
Platinum Fund (long-short) 10,766
Subtotal $ 74,513
Non-U.S. Equity (Emerging)
Emerging Markets Growth Fund $ 16,848
Templeton Emerging Market 8,456
Wisdomtree Emerging Markets 7,526
Driehaus Emerging Markets Growth 10,383
Subtotal $ 43,213
Real Estate Equity
iShares Dow Jones RE Index $ 7,870
Third Avenue RE Fund 6,927
Subtotal $ 14,797
U.S. Fixed Income/Cash
PIMCO Funds Total Return $ 15,829
Cash Equivalents 7,437
Subtotal $ 23,266
Non-U.S. Fixed Income
PIMCO Foreign Bond $ 9,012
PIMCO Developing 4,960
PIMCO Emerging Bond 2,474
Subtotal $ 16,446
Hedge Funds
Tactician Windward $ 5,910
Makena Capital Associates 40,613
Renaissance Inst'l Diversified 12,166
Bowery Opportunity Fund 8,518
Davidson Kempner 9,615
Highbridge Tactical 3,459
JPS Credit Opportunities 3,767
Subtotal $ 84,048
Private Equity $ 22,210
GRAND TOTAL $ 419,881
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 9
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 10
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 11
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 12
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 13
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 14
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 15
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 16
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 17
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 18
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 19
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 20
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 21
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 22
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 23
Suggested Citation:"I. Investments." National Academy of Sciences. 2016. Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015. Washington, DC: The National Academies Press. doi: 10.17226/23558.
×
Page 24
Next: II. Private Contributions »
Report of the Treasurer of the National Academy of Sciences for the Year Ended December 31, 2015 Get This Book
×
MyNAP members save 10% online.
Login or Register to save!
Download Free PDF

The income that supports the activities of the National Academy of Sciences (NAS) comes from two major sources: program revenue received from sponsors to pay for the myriad studies and other activities undertaken each year by the National Academies of Sciences, Engineering, and Medicine, and a much smaller sum that is obtained from our endowment under the endowment spending policies adopted by the Council. The goal of the endowment is to provide stable support for the Academy's programs and activities. To achieve this goal, the Council, acting on the recommendations of the Finance Committee, has historically authorized spending from the portfolio at a rate designed to maintain the purchasing power of the endowment over time.

This Report of the Treasure of the National Academy of Sciences presents the financial position and results of operations as well as a review of the endowment, trust, and other long-term investments portfolio activities of our Academy for the year ended December 31, 2015. While this book provides essential financial summary to key personnel, it also serves as a vital informative resource for various members of the public, private, and governmental sectors.

  1. ×

    Welcome to OpenBook!

    You're looking at OpenBook, NAP.edu's online reading room since 1999. Based on feedback from you, our users, we've made some improvements that make it easier than ever to read thousands of publications on our website.

    Do you want to take a quick tour of the OpenBook's features?

    No Thanks Take a Tour »
  2. ×

    Show this book's table of contents, where you can jump to any chapter by name.

    « Back Next »
  3. ×

    ...or use these buttons to go back to the previous chapter or skip to the next one.

    « Back Next »
  4. ×

    Jump up to the previous page or down to the next one. Also, you can type in a page number and press Enter to go directly to that page in the book.

    « Back Next »
  5. ×

    Switch between the Original Pages, where you can read the report as it appeared in print, and Text Pages for the web version, where you can highlight and search the text.

    « Back Next »
  6. ×

    To search the entire text of this book, type in your search term here and press Enter.

    « Back Next »
  7. ×

    Share a link to this book page on your preferred social network or via email.

    « Back Next »
  8. ×

    View our suggested citation for this chapter.

    « Back Next »
  9. ×

    Ready to take your reading offline? Click here to buy this book in print or download it as a free PDF, if available.

    « Back Next »
Stay Connected!