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Suggested Citation:"Financials." National Academies of Sciences, Engineering, and Medicine. 2018. The Gulf Research Program Annual Report 2017. Washington, DC: The National Academies Press. doi: 10.17226/25223.
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Financials

Proceeds Received by the National Academy of Sciences

BP Exploration and Production Inc. Transocean Deepwater Inc. Total
Proceeds received 2013 $5,000,000 $2,000,000 $7,000,000
2014 $15,000,000 $7,000,000 $22,000,000
2015 $45,000,000 $21,000,000 $66,000,000
2016 $80,000,000 $60,000,000 $140,000,000
2017 $90,000,000 $60,000,000 $150,000,000
Proceeds received to date $235,000,000 $150,000,000 $385,000,000
Proceeds to be received 2018 $115,000,000 $115,000,000
Proceeds to be received $115,000,000 $115,000,000
Total proceeds $350,000,000 $150,000,000 $500,000,000

Financial Overview

Proceeds Received $385,000,000
Investment Return (includes dividends) $45,341,969
Total Funds Available $430,341,969
Program Expenditures
2013 ($1,372,402)
2014 ($3,018,699)
2015 ($8,557,425)
2016 ($12,601,374)
2017 ($21,996,977)
Total program expenditures ($47,546,877)
Net funds available at 12/31/2017 $382,795,092
Cash on hand for expenditures ($1,298,511)
Funds invested $384,093,603
Net funds available at 12/31/2017 $382,795,092
Image
This chart tracks program expenditures based on the three types of activities identified in agreements that led to the GRP’s creation.

Notes:

1Full and complete financial information pertaining to the GRP is available in the Report of the Treasurer of the National Academy of Sciences, published in June of each year for the preceding year.

2Many GRP awards are multi-year awards with payment of the total amount of the award distributed across more than 1 year. As such, discrepancies will exist between total awards announced versus total program expenditures in a given year. Program expenditures in a given year reflect payments of funds in that year, which may include payments of funds for awards announced in that year or in a previous year.

Suggested Citation:"Financials." National Academies of Sciences, Engineering, and Medicine. 2018. The Gulf Research Program Annual Report 2017. Washington, DC: The National Academies Press. doi: 10.17226/25223.
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The Gulf Research Program Annual Report 2017 Get This Book
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Each year, the Gulf Research Program (GRP) produces an annual report to summarize how funds were used. These reports review accomplishments, highlight activities, and, over time, will assess metrics to determine how the program is progressing in accomplishing its goals. The 2017 annual report is the fourth report in this series.

The GRP is an independent, science-based program founded in 2013. Through grants, fellowships, and other activities, it seeks to enhance oil system safety and the protection of human health and the environment in the Gulf of Mexico region and other areas along the U.S. outer continental shelf with offshore oil and gas operations.

This report captures key developments and successes in 2017. The GRP continues to build on its past work and seeks to learn, think about, and plan for how and where it can have the greatest cumulative and lasting impacts.

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