Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
×
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
×
SCHEDULE 1
| Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2017 | Capital Contribution | Market Value |
I. Funds that Support the NAS
A. General Fund — The 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 | $ 589,249 |
| 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 | 40,767,523 |
| Commonwealth Fund — A grant from the Commonwealth Fund for the capital endowment of the Academy. | 500,000 | 2,646,819 |
| Carl Eckart Fund* — A bequest of Carl Eckart for the general purposes of the Academy. | 1,246,366 | 2,693,873 |
| Ford Foundation Fund — A grant from the Ford Foundation for the capital endowment of the Academy. | 5,000,000 | 26,020,543 |
| Henrietta and Alexander Hollaender Fund* — A bequest of Dr. Alexander and Mrs. Henrietta Hollaender. | 500,000 | 1,164,609 |
| Grayce B. Kerr Fund — A grant from Grayce B. Kerr for the general purposes of the Academy. | 250,000 | 588,286 |
| Nealley Fund — A bequest of George True Nealley for the general purposes of the Academy. | 19,556 | 234,055 |
| Simon Ramo Fund — A contribution from Simon Ramo for the general purposes of the Academy. | 14,000 | 39,134 |
| Rockefeller Foundation Fund* — A grant from the Rockefeller Foundation to the National Academy of Sciences for the general purposes of the Academy. | 1,000,000 | 5,276,559 |
| Dorothea and Herbert Simon Fund — A contribution from Dorothea and Herbert Simon for the general purposes of the Academy. | 901,256 | 1,549,142 |
| Sloan Foundation Fund* — A grant from the Alfred P. Sloan Foundation for the general purposes of the Academy. | 1,000,000 | 5,259,175 |
| 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 | 133,093 |
| Anonymous Endowment Fund — A contribution for the general purposes of the Academy from a donor who wishes to remain anonymous. | 7,146,660 | 16,906,550 |
| 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. | 7,942,600 | 15,133,244 |
| Members Endowment Fund — Contributions from Academy members to be used for the general purposes of the Academy. | 2,892,033 | 5,946,528 |
| Fred Kavli Endowment Fund — A gift from the Kavli Foundation to support the NAS in its missions: to validate scientific excellence; to enhance the vitality of the scientific enterprise; to guide public policy with science; and to communicate the nature, values, and judgments of science to government and the public. | 2,100,000 | 2,328,823 |
| Subtotal — General Fund | $ 33,867,133 | $ 127,277,205 |
___________________
* Denotes funds for which the contribution was not permanently restricted by the donor
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
×
SCHEDULE 1
| Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2017 | Capital Contribution | Market Value |
B. Woods Hole — The 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 * — A contribution from the Peter C. Cornell Trust 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 | $ 278,610 |
| 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 | 4,823,415 |
| 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 | 204,767 |
| 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 | 1,212,072 |
| Woods Hole Endowment — Contributions from the Brown Foundation and various individuals for maintenance of the Woods Hole Study Center. | 971,400 | 1,394,374 |
| Woods Hole Fund — Contributions from various individuals for maintenance of the Woods Hole Study Center. | 12,874 | 42,236 |
| Subtotal — Woods Hole | $ 3,639,274 | $ 7,955,474 |
C. Presidents' Committee Funds — Each 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.
| Maurice Ewing and Planetary Sciences Fund — Contribution from the Palisades Geophysical Institute and an anonymous donor. | $ 503,231 | $ 1,440,318 |
| 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 | 988,601 |
| 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 | 6,722,933 |
| The Coca−Cola Foundation Fund — A grant from the Coca-Cola Foundation to be used for initiatives in precollege science and mathematics education. | 50,000 | 88,401 |
| 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 | 21,496,790 |
| 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 | 1,827,188 |
| W. K. Kellogg Foundation Fund — A grant from 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 | 49,567,261 |
___________________
* Denotes funds for which the contribution was not permanently restricted by the donor
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
×
SCHEDULE 1
| Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2017 | Capital Contribution | Market Value |
| Kobelt Fund * — A bequest of Nina I. Kobelt to be used for research scholarships for worthy students. | 296,593 | 2,230,522 |
| Andrew W. Mellon Foundation Fund — A grant from the Andrew W. Mellon Foundation to endow a program of Academy-initiated studies. | 1,000,000 | 1,795,669 |
| 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 | 30,886,877 |
| 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 | 131,522 |
| Frank Press Fund for Dissemination and Outreach — Contributions from members of the Presidents’ Circle of the NAS, NAE, and the NAM to support dissemination and outreach activities. | 1,167,255 | 2,493,708 |
| 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 | 1,967,843 |
| Subtotal — Presidents' Committee Funds | $ 50,325,244 | $ 121,637,633 |
D. Program Specific Funds — Each 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 * — An 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. The fund was fully expended during 2017. | $ 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 | 185,440 |
| 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 | 1,444,393 |
| Blakeslee Fund — A bequest of Albert Francis Blakeslee, the income from which is to be used in support of genetics research. | 886,902 | 2,777,178 |
| 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 | 82,476 |
| Ralph J. and Carol M. Cicerone Endowment for NAS Missions — Contributions from NAS president Ralph Cicerone and his wife Carol and others -- including a matching gift from the Simons Foundation -- to support the NAS in its missions: to validate scientific excellence; to enhance the vitality of the scientific enterprise; to guide public policy with science; and to communicate the nature, values, and judgments of science to government and the public. | 8,555,034 | 9,413,697 |
___________________
* Denotes funds for which the contribution was not permanently restricted by the donor
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
×
SCHEDULE 1
| Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2017 | Capital Contribution | Market Value |
| 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 dialogue and engagement at the intersection of science, culture and art. | 83,984 | 136,368 |
| 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 | 1,628,428 |
| Food and Nutrition Board Fund — Two grants from the Kaiser Family Foundation for core activities of the Food and Nutrition Board. | 525,350 | 2,394,938 |
| Food and Nutrition Board Corporations Fund — Contributions from Monsanto Company and Nestle, USA, Inc., to provide support for Food and Nutrition Board activities. | 125,000 | 699,650 |
| Food and Nutrition Board Members Fund — Contributions from members to be used for general purposes of the Food and Nutrition Board. | 9,300 | 44,417 |
| Global Commons Project Fund — A contribution by George Mitchell to support issues of sustainable development. | 39,058 | 262,222 |
| Frederic L. Hoch Fund — A bequest of Frederic L. Hoch to provide grants to women studying in the sciences. | 50,000 | 62,512 |
| Marian E. Koshland Fund * — Contributions from Dr. Daniel E. Koshland, Jr. and the Koshland Foundation to support public engagement programs that inspire people to use science to solve problems and reach current and future leaders whose decisions will be informed by science. | 22,793,243 | 20,234,132 |
| Bruce Alberts Fund of the Marian E. Koshland Fund * — Contributions from Dr. Daniel E. Koshland, Jr. and the Koshland Foundation to support outreach related to the purposes of the Marian E. Koshland Fund. | 5,134,871 | 9,201,490 |
| Christine Mirzayan Fellowship Fund — A contribution from the Kate Mahaffey Memorial Scholarship Fund of the Westmoreland Congregational United Church of Christ to support a program designed to engage graduate students in various fields in the analysis and creation of science and technology policy. | 5,760 | 10,216 |
| 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 | 4,209,371 |
| 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 | 6,759,352 |
| 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. | 49,119 | 344,540 |
| 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 | 17,106 |
| 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. | 618,500 | 979,822 |
| 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 promotes interaction among world−class researchers in rapidly advancing scientific fields. | 5,000,000 | 7,072,237 |
___________________
* Denotes funds for which the contribution was not permanently restricted by the donor
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
×
SCHEDULE 1
| Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2017 | Capital Contribution | Market Value |
| 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 | 2,422,014 |
| Raymond and Beverly Sackler Science Fund — A contribution, given in honor of Ralph J. Cicerone, 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 | 3,201,852 |
| 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 | 242,677 |
| The Arthur L. Day Memorial Fund * — A bequest of Ruth Easling Day to support research projects in any field of scientific endeavor or for the scientific publications of the Academy. | 2,235,894 | 2,403,602 |
| Subtotal – Program Specific Funds | $ 69,823,276 | $ 76,230,130 |
E. Prizes and Awards — The 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 | $ 98,109 |
| 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 | 4,616,679 |
| Richard C. Atkinson Fund — A contribution from 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 | 4,265,675 |
| Bache Fund — A bequest of Alexander Dallas Bache to aid research in the physical and natural sciences. | 60,000 | 439,195 |
| Edward and Marianne Blaauw Fund — A bequest of Marianne Blaauw to support research in the field of ophthalmology. | 71,299 | 953,881 |
| John J. Carty Fund — A contribution from 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 | 924,519 |
| Comstock Fund — A contribution from Cyrus B. Comstock for a prize for notable investigations in electricity, magnetism, or radiant energy. | 10,400 | 1,168,504 |
| Draper Fund — A contribution from 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 | 431,390 |
___________________
* Denotes funds for which the contribution was not permanently restricted by the donor
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
×
SCHEDULE 1
| Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2017 | Capital Contribution | Market Value |
| Elliot Fund — A contribution from Margaret Henderson Elliot for the most meritorious work on zoology and paleontology published in each year. | 8,000 | 231,960 |
| 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 | 289,053 |
| Food and Agriculture Research Fund — Contributions from the Foundation for Food and Agriculture Research and The Bill & Melinda Gates Foundation to provide support for the National Academy of Sciences Prize in Food and Agriculture Sciences which is to be awarded to an individual researcher at a U.S. institution who has made an extraordinary contribution to understanding the fundamental biology of an agriculturally important species and/or has had a major impact on agriculture. | 3,000,000 | 3,585,026 |
| 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 | 269,204 |
| Gibbs Fund — A contribution from Wolcott Gibbs and increased by a bequest of Morris Loeb for the promotion of research in chemistry. | 5,274 | 179,835 |
| 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 | 678,412 |
| 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 | 788,248 |
| Michael and Sheila Held Prize in Mathematical Programming — A bequest of Michael and Sheila Held for achievement in mathematical programming. | 3,975,226 | 4,869,785 |
| 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 | 512,443 |
| Alexander Hollaender Award in Biophysics — A bequest of Alexander Hollaender for a prize to an outstanding biophysicist. | 100,000 | 387,987 |
| Hunsaker Fund — A contribution from Mr. and Mrs. J. C. Hunsaker to found an Academy award in the field of aeronautical engineering. | 24,750 | 561,325 |
| Franklin Livingston Hunt Fund — A bequest of Franklin Livingston Hunt to aid research in physics, chemistry, and preventive medicine. | 10,465 | 377,666 |
| Kovalenko Fund — A contribution from Michael S. Kovalenko, in memory of his wife, to found the Jessie Stevenson Kovalenko Gold Medal for meritorious research in medical sciences. | 113,936 | 2,096,163 |
| Marsh Fund — A bequest of Othniel Charles Marsh to promote original research in the natural sciences. | 10,000 | 224,743 |
| George P. Merrill Fund — A contribution from Mrs. George P. Merrill for studies of meteors, meteorites, and space. | 10,000 | 735,730 |
| Stanley Miller Award * — A bequest of Stanley L. Miller for work or contributions to early earth studies. | 204,554 | 294,568 |
| Monsanto Award in Molecular Biology — A grant from the Monsanto Company for contributions in the field of molecular biology. | 421,374 | 1,326,908 |
| Murray Fund — A contribution from Sir John Murray in honor of Alexander Agassiz for original contributions to the science of oceanography. | 6,000 | 207,705 |
| National Academy of Sciences Award in Chemical Sciences — A contribution from The Merck Company Foundation for distinction in research and broad fundamental impact in pure chemistry. | 478,278 | 697,273 |
___________________
* Denotes funds for which the contribution was not permanently restricted by the donor
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
×
SCHEDULE 1
| Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2017 | Capital Contribution | Market Value |
| National Academy of Sciences Award for Chemistry in Service to Society — A contribution from 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 | 409,929 |
| National Academy of Sciences Award in Mathematics — A contribution from the American Mathematical Society for achievements in mathematics. | 103,897 | 123,578 |
| National Academy of Sciences Award in Neuroscience — A contribution from the Fidia Research Foundation for achievements in neuroscience. | 140,206 | 655,167 |
| Pradel Fund — A bequest of Jules Pradel to be applied to work on the human central nervous system and allied subjects. | 16,392 | 2,269,519 |
| 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 | 469,737 |
| 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 | 10,790,175 |
| 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 | 1,781,965 |
| 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 | 855,126 |
| Mrs. J. Lawrence Smith Fund — A contribution from 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 | 946,020 |
| Thompson Fund — A contribution from Mary Clark Thompson for important services to geology and paleontology. | 10,000 | 291,153 |
| Troland Fund — A bequest of Leonard T. Troland for the advancement of scientific knowledge in the field of psychophysics. | 505,359 | 5,425,677 |
| 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 | 563,977 |
| Walcott Fund — A contribution from Mary Vaux Walcott in honor of her husband for Cambrian or pre-Cambrian life and its history. | 5,000 | 89,332 |
| G. K. Warren Fund — A contribution from Emily B. Warren in memory of her father for achievements in any field of science. | 15,000 | 251,665 |
| Watson Fund — A bequest of James Craig Watson for the promotion of astronomical sciences and grants in aid of research. | 25,000 | 1,871,586 |
| Subtotal — Prizes and Awards | $ 25,178,529 | $ 58,006,592 |
___________________
* Denotes funds for which the contribution was not permanently restricted by the donor
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
×
SCHEDULE 1
| Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2017 | Capital Contribution | Market Value |
F. Reserve Funds — The 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. | $ 5,255,608 | $ 6,280,074 |
| Proceedings of the National Academy of Sciences (PNAS) Fund * | 1,000,000 | 1,765,898 |
| Transportation Research Board (TRB) Reserve Fund * — Income in excess of expenditures for TRB core support activities in a fiscal year. | 1,500,000 | 3,604,661 |
| Due to (from) National Academy of Sciences * | - | 73,300 |
| Subtotal — Reserve Funds | $ 7,755,608 | $ 11,723,933 |
| Subtotal — Funds that Support the NAS | $ 190,589,064 | $ 402,830,967 |
II. Funds that Support the NAM
A. General Funds — The 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. | $ 121,500 | $ 151,548 |
| General Endowment Fund — Contributions from various sources, including members of the National Academy of Medicine, for capital endowment of the National Academy of Medicine. | 1,158,789 | 2,173,277 |
| 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 | 12,447,196 |
| Henry J. Kaiser Family Foundation Fund — A contribution from the Henry J. Kaiser Family Foundation for core activities of the National Academy of Medicine. | 488,485 | 971,130 |
| National Academy of Medicine Kellogg Fund * — A grant from the Kellogg Foundation for the general purposes of the National Academy of Medicine. | 282,500 | 684,637 |
| National Academy of Medicine Members’ Dues * | 197,500 | 473,544 |
| 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 | 12,264,394 |
| 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 | 1,221,802 |
| Pharmaceutical Endowment Fund — Contributions from Glaxo Inc. and Eli Lilly Company for the general purposes of the National Academy of Medicine. | 259,448 | 589,113 |
| Kaiser Permanente Fund — Contribution from Kaiser Permanente for core support of the National Academy of Medicine. | 26,346 | 69,448 |
| Subtotal — General Funds | $ 13,014,568 | $ 31,046,089 |
___________________
* Denotes funds for which the contribution was not permanently restricted by the donor
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
×
SCHEDULE 1
| Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2017 | Capital Contribution | Market Value |
B. Program Specific Funds — Each 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. | $ 750,336 | $ 881,957 |
| Distinguished Scholar Fund — Contributions from NAM members for one or more persons of senior caliber to spend a period of time at the NAM in scholarly pursuits related to key program initiatives. | 16,550 | 110,402 |
| 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 | 1,063,918 |
| 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 | 875,255 |
| 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 | 2,026,316 |
| 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 | 17,793,735 |
| 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 | 5,914,203 |
| 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 | 8,219,133 |
| 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 | 4,843,845 |
| 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 | 1,021,386 |
| 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. | 750,000 | 819,079 |
| 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. | 751,000 | 917,144 |
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* Denotes funds for which the contribution was not permanently restricted by the donor
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
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SCHEDULE 1
| Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2017 | Capital Contribution | Market Value |
| 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 | 1,108,641 |
| 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 | 1,780,649 |
| 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 | 2,832,715 |
| 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 | 125,168 |
| Subtotal — Program Specific Funds | $ 26,797,194 | $ 50,333,546 |
C. Prizes and Awards — The 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 | $ 5,213,863 |
| Sandra H. Matthews Cecil Award * — Contributions from former Institute of Medicine presidents to support an 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 | 206,901 |
| 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 | 1,891,020 |
| Subtotal — Prizes and Awards | $ 2,362,354 | $ 7,311,784 |
D. Reserve Funds —The 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 | $ 1,419,515 |
| Subtotal — Reserve Funds | $ 500,000 | $ 1,419,515 |
| Subtotal — Funds that Support the NAM | $ 42,674,116 | $ 90,110,934 |
| Subtotal — NAS and NAM Funds | $ 233,263,180 | $ 492,941,901 |
___________________
* Denotes funds for which the contribution was not permanently restricted by the donor
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
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SCHEDULE 1
| Endowment, Trust, and Other Long-term Investments Pool Description of Funds for the Year Ended December 31, 2017 | Capital Contribution | Market Value |
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 | $ 9,685,367 |
| 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. | 1,923,034 | 2,364,139 |
| Building Maintenance Reserve * — Accumulated surplus from TNAC operations set aside for maintenance of the Beckman Center. The endowment is held on behalf of TNAC and invested by the NAS. | - | 1,248,284 |
| Subtotal — The National Academies’ Corporation | $ 9,923,034 | $ 13,297,790 |
| TOTAL | $ 243,186,214 | $ 506,239,691 |
___________________
* Denotes funds for which the contribution was not permanently restricted by the donor
Suggested Citation:"I. Investments." National Academy of Sciences. 2018. Report of the Treasurer for the Year Ended December 31, 2017. Washington, DC: The National Academies Press. doi: 10.17226/25177.
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SCHEDULE 2
Endowment, Trust, and Other Long-term Investments Pool Change in Valuation and Asset Allocation as of December 31, 2017 |
Change in Valuation from 12/31/16 to 12/31/17
(Dollars in Thousands)
| Market Value at 12/31/16 | $ 442,655 |
|---|---|
| Realized Capital Gain | 6,771 |
| Unrealized Capital Gain | 50,753 |
| Reinvested Income | 7,537 |
| Contributions | 14,242 |
| Expenditures and Transfers | (15,718) |
| Market Value at 12/31/17 | $ 506,240 |
Asset Allocation as of 12/31/17
(Dollars in Thousands)
| U.S. Large Equity | $ 145,187 |
| U.S. Small/Mid Equity | 27,373 |
| Non-U.S. Equity (Developed) | 66,914 |
| Non-U.S. Equity (Emerging) | 29,460 |
| Real Estate Equity | 8,277 |
| U.S. Fixed Income/Cash | $ 44,589 |
| Non-U.S. Fixed Income | 8,602 |
| Hedge Funds | 152,729 |
| Private Equity | 23,109 |
| GRAND TOTAL | $ 506,240 |
