Report of the Treasurer for the Year Ended December 31, 2014 (2015) / Chapter Skim
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Treasurer's Statement
Treasurer's Statement
Pages 1-6
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Overview NAS Highlights The income that supports the activities of the Academy comes from two major sources: program revenue received Endowment, Trust, and Other Long-term Investments from sponsors to pay for the myriad studies and other Portfolio activities undertaken each year by the National Research Council (NRC) , and a much smaller sum that we As the Chairman of the Finance Committee, I am withdraw from our own endowment under the endowment responsible, along with the other committee members, for spending policies adopted by the Council.
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In gross terms, Revenues: including the return on investments, the gifts received, Unrestricted Endowment $ 4,408 and the withdrawals made for endowment expenditures, Annual Giving from Members 518 the increase in the value of the endowment over Membership Dues 338 December 31, 2013 was 2.0%, exceeding the 0.8% Annual Meeting 332 inflation rate during the one year period. On the same Other 10 basis, the endowment asset value has increased by 30.7% over the ten year period preceding December 31, 2014 for Total Revenue $ 5,606 an average (compounded)
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. The NAS Council has approved a General Funds Budget of $5.8 million for 2015, which is based on a slightly NAS leases a facility at 8619 Westwood Center Drive in increased endowment expenditure rate of 4.50%.
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Additionally, the MacArthur Foundation and $200,000 from the Robert NAS Auditorium seat naming campaign continued to Wood Johnson Foundation to support a study on how garner interest with 19 additional seats being named to improve the use of economic analysis to inform that raised $95,000 for the NAS building fund. investment in interventions to improve outcomes for children, youth, and families; grants of $550,008 The IOM saw a 20% increase in the funds raised from the Bill and Melinda Gates Foundation, and through its annual fund campaign, bringing in $150,000 each from the Alfred P
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promote and support informed community decision- Agency for International Development $ 10,389 making, received a grant of $200,000 from the Si- Department of Agriculture 1,174 mons Foundation. Department of Commerce 6,857 Department of Defense: The Committee on Human Rights of the NAS, IOM, Defense Threat Reduction Agency 1,912 and NAE received support from 111 members across Department of the Air Force 6,935 the three academies raising $76,938.
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measurement of a not-for-profit organization's ability to reinvest net income toward its mission while also As in many universities and nonprofit institutions, indirect maintaining reserves and helping protect against inflation. cost expenditures provide necessary support services and The NAS 2014 results of operations are further described should be kept in reasonable proportion to program in the financial statements starting on page 51.
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