Report of the Treasurer for the Year Ended December 31, 2015 (2016) / Chapter Skim
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Treasurer's Statement
Treasurer's Statement
Pages 1-8
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Our total NRC significantly in 2008, the Council made the prudent program revenue for 2015 experienced an increase of decision to hold spending to 4% and to avoid spending approximately 0.9% above 2014 revenue. In projecting from specific endowment funds having values below the program level in 2016, we anticipate a program level original gift amount, starting in 2009.
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One further comparison may be useful. Including the The market value of the portfolio, along with the actual return on investments and the gifts received and the portfolio allocation and policy guidelines as of December 31, 2015, were as follows: withdrawals made for endowment expenditures, the endowment asset value has increased by 19.2% over the Amount Portfolio Policy ten year period preceding December 31, 2015 for an (000's)
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. The NAS Council has approved a General Funds Budget NAS leases a facility at 8619 Westwood Center Drive in of $6.0 million for 2016, which is based on an expendi- Vienna, Virginia for the National Academies Data Center.
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The selected gifts described below highlight and Melinda Gates Foundation, Mr. Ming Wai Lau, the scope of philanthropic support received during 2015: the Gordon and Betty Moore Foundation, and the • The NAS received a gift from Raymond and Beverly Wellcome Trust to support the work of the Global Sackler and the Raymond and Beverly Sackler Foun- Health Risk Framework Commission for which the dation to endow the Convergence Research Prize NAM served as secretariat.
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Agency for International Development $ 13,548 • The Committee on Human Rights of the NAS, NAE, Department of Agriculture 2,065 and NAM received support from 180 members across Department of Commerce 7,014 the three academies raising more than $175,000. Department of Defense: This amount includes renewed support from Martha Defense Threat Reduction Agency 1,560 Vaughan (NAS)
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Historically, NRC management has Department of Justice 1,357 successfully maintained a relatively constant relationship Department of Labor 54 between program and support costs, i.e., the growth rate Department of State 2,200 of indirect costs has been approximately equal to the Department of Transportation 83,104 growth rate of direct costs. In 2015, management Department of Treasury 209 approved a slightly increased indirect cost level in line Department of Veterans Affairs 6,768 with the increased program level.
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Conclusion I would like to thank the members of the Council, the Committee on Budget and Internal Affairs, the Finance Committee, and the NRC leadership for their continued support. Also, special thanks are extended to the Office of the Chief Financial Officer, led by Mary "Didi" Salmon, our CFO, for help in managing the Endowment and Trust Pool, providing steady oversight of the Academy's various budgets, and paying careful attention to the Academy's financial systems, records and reports.
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