Report of the Treasurer for the Year Ended December 31, 2010 (2011)
Chapter: Statements of Financial Position
NATIONAL ACADEMY OF SCIENCES
Statements of Financial PositionDecember 31, 2010 and 2009(Dollars in thousands)
Assets | 2010 | 2009 |
Current assets: |
|
|
Cash and cash equivalents | $ 1,522 | $ 1,387 |
Short-term investments (note 3) | 56,777 | 49,113 |
Contracts receivable – U.S. government (note 12) | 58,426 | 47,027 |
Contributions and other receivables, net (note 6) | 12,922 | 14,565 |
Bond proceeds held with trustee (note 13) | 47,216 | - |
Other current assets | 5,828 | 4,627 |
Total current assets | 182,691 | 116,719 |
Other assets (notes 2, 13, 15, and 17) | 7,468 | 8,093 |
Long-term investments (note 3) | 423,062 | 376,163 |
Contributions receivable, net (note 6) | 22,235 | 28,191 |
Property and equipment, net (notes 5 and 16) | 134,953 | 127,476 |
Einstein Memorial | 1,723 | 1,723 |
Total assets | $ 772,132 | $ 658,365 |
Liabilities and Net Assets |
|
|
Liabilities: |
|
|
Current liabilities: |
|
|
Accounts payable and accrued expenses | $ 47,116 | $ 42,064 |
Deferred revenue (notes 7 and 12) | 28,007 | 32,080 |
Line of credit (note 8) | 10,000 | - |
Other current liabilities (notes 13 and 14) | 4,776 | 3,498 |
Total current liabilities | 89,899 | 77,642 |
Bonds payable (note 13) | 181,202 | 122,545 |
Funds held on behalf of others (note 3) | 9,918 | 8,794 |
Note payable (note 14) | - | 757 |
Accrued employee benefits (note 15) | 4,618 | 4,603 |
Other long-term liabilities (notes 2, 13, and 16) | 13,370 | 14,057 |
Total liabilities | 299,007 | 228,398 |
Net assets: |
|
|
Unrestricted | 89,054 | 72,871 |
Temporarily restricted (note 9) | 265,702 | 241,734 |
Permanently restricted (note 10) | 118,369 | 115,362 |
Total net assets | 473,125 | 429,967 |
Commitments and contingencies (notes 3, 12, 13, 15, 18, and 19) |
|
|
Total liabilities and net assets | $ 772,132 | $ 658,365 |
See accompanying notes to financial statements.
