Report of the Treasurer for the Year Ended December 31, 2019 (2020) / Chapter Skim
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Treasurer's Statement
Treasurer's Statement
Pages 1-8
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The General Funds section below describes the annual unrestricted spending. NAS Highlights Endowment and Other Long-term Investments Portfolio As the chair of the NAS Investment Committee, I am responsible, along with the other committee members, for the prudent management of the endowment fund.
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28,197 5% Long/short equity hedge funds 104,415 18% Multi-strategy hedge funds 256,672 43% Private equity funds 34,419 6% Total $ 591,981 100% Included in the $592.0 million total market value of the portfolio as of December 31, 2019, are $8.2 million for the Woods Hole Endowment Funds, $106.9 million for the National Academy of Medicine (NAM) , and $13.3 million for The National Academies' Corporation (TNAC)
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After an extensive search process, NAS hired Investure, a full-service investment firm located in Charlottesville, VA, serving twelve endowment clients with approximately $14 billion in assets under management. The investment management of the NAS Endowment officially transitioned to Investure on November 1, 2019.
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changes in the award cycle, amounts of the honoraria, and any other administrative changes. Journal Publications The Proceedings of the National Academy of Sciences (PNAS)
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The Blavatnik Family Foundation funded a five year joint program between the NAS and the Israel Academy of Sciences and Humanities to assist outstanding scientists in the United States and in Israel for the mutual benefit of the scientific communities of the two countries with a $1 million gift. The NAS raised over $603,000 through its annual fund from members and friends, with 24% of the membership making a gift.
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Agency for International Development $ 16,157 Arctic Research Commission 9 Department of Agriculture 1,085 Department of Commerce 6,510 Department of Defense: Defense Threat Reduction Agency 1,604 Department of the Air Force 9,113 Department of the Army 8,773 Department of Defense 1,424 Department of the Navy 13,473 Department of Education 60 Department of Energy 7,763 Department of Health and Human Services 26,522 Department of Homeland Security 3,271 Department of Housing and Urban Development 48 Department of the Interior 1,863 Department of Labor 322 Department of State 2,536 Department of Transportation 83,605 Department of Treasury 21 Department of Veterans Affairs 4,872 Environmental Protection Agency 2,038 Federal Reserve System 318 Government Accountability Office 450 General Services Administration 47 National Aeronautics and Space Administration 7,595 National Endowment for the Humanities 18 National Science Foundation 12,812 Nuclear Regulatory Commission 5 Office of the Director of National Intelligence 4,655 Social Security Administration 2,037 Adjustment to Indirect Cost Receivable & Other (5,517) Total U.S.
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Indirect Expenses As in many universities and nonprofit institutions, indirect cost expenditures provide necessary support services and should be kept in reasonable proportion to program expenditures. Historically, NRC management has maintained a relatively constant relationship between program and support costs, i.e., the growth rate of indirect costs has been approximately equal to the growth rate of direct costs.
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Also, special thanks are extended to the Office of the Chief Financial Officer, led by Mary "Didi" Salmon, our CFO, for help in managing Academy resources, providing steady oversight of the Academy's various budgets, and paying careful attention to the Academy's financial systems, records and reports. William H
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