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NATIONAL ACADEMY OF SCIENCES Statements of Activities For the years ended December 31, 2020 and 2019 (in thousands) 2020 2019 Without Donor With Donor Without Donor With Donor Restrictions Restrictions Total Restrictions Restrictions Total REVENUES, GAINS, AND OTHER SUPPORT Government contracts and grants (Notes 2 and 11) $ 190,547 $ - $ 190,547 $ 213,489 $ - $ 213,489 Private contracts and grants 15,837 41,807 57,644 16,768 35,293 52,061 Other contributions 3,671 731 4,402 1,374 5,546 6,920 Fees and publications 19,196 - 19,196 16,721 - 16,721 Investment income 14,389 129,982 144,371 18,179 127,187 145,366 Other income (Note 12) 14,527 - 14,527 18,034 - 18,034 Net assets released from restriction (Note 8) 65,793 (65,793) - 83,981 (83,981) - Total revenues, gains, and other support 323,960 106,727 430,687 368,546 84,045 452,591 EXPENSES (Note 2) Programs (Note 10) 254,226 - 254,226 287,088 - 287,088 Management and general 53,656 - 53,656 63,541 - 63,541 Fundraising 3,061 - 3,061 3,738 - 3,738 Total expenses 310,943 - 310,943 354,367 - 354,367 Other components of net periodic benefit cost (Note 13) (1,182) - (1,182) (539) - (539) Postretirement changes other than net periodic benefit cost (Note 13) (6,015) - (6,015) 41 - 41 Change in net assets 20,214 106,727 126,941 14,677 84,045 98,722 Net assets at beginning of year 125,774 1,034,867 1,160,641 111,097 950,822 1,061,919 Net assets at end of year $ 145,988 $ 1,141,594 $ 1,287,582 $ 125,774 $ 1,034,867 $ 1,160,641 The accompanying notes are an integral part of these financial statements. 48
