Report of the Treasurer: For the Year Ended December 31, 2022 (2023)
Chapter: Statements of Activities
NATIONAL ACADEMY OF SCIENCES
Statements of Activities
For the years ended December 31, 2022 and 2021
(in thousands)
| 2022 | 2021 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Without Donor Restrictions | With Donor Restrictions | Total | Without Donor Restrictions | With Donor Restrictions | Total | ||||||||||||
| REVENUES, GAINS, LOSSES, AND OTHER SUPPORT | |||||||||||||||||
|
Government contracts and grants (Notes 2 and 11) |
$ | 195,391 | $ | - | $ | 195,391 | $ | 174,526 | $ | - | $ | 174,526 | |||||
|
Private contracts and grants |
15,641 | 56,312 | 71,953 | 16,063 | 59,430 | 75,493 | |||||||||||
|
Other contributions |
2,194 | 5,027 | 7,221 | 2,085 | 1,789 | 3,874 | |||||||||||
|
Fees and publications |
17,534 | - | 17,534 | 19,256 | - | 19,256 | |||||||||||
|
Investment (loss) income |
(16,515) | (156,142) | (172,657) | 20,607 | 136,001 | 156,608 | |||||||||||
|
Other income (Note 12) |
17,286 | - | 17,286 | 10,631 | - | 10,631 | |||||||||||
|
Net assets released from restriction (Note 8) |
99,973 | (99,973) | - | 73,120 | (73,120) | - | |||||||||||
|
Total revenues, gains, losses, and other support |
331,504 | (194,776) | 136,728 | 316,288 | 124,100 | 440,388 | |||||||||||
| EXPENSES (Note 2) | |||||||||||||||||
|
Programs (Note 10) |
286,909 | - | 286,909 | 250,159 | - | 250,159 | |||||||||||
|
Management and general |
63,086 | - | 63,086 | 47,866 | - | 47,866 | |||||||||||
|
Fundraising |
3,399 | - | 3,399 | 3,180 | - | 3,180 | |||||||||||
| Total expenses | 353,394 | - | 353,394 | 301,205 | - | 301,205 | |||||||||||
|
Other components of net periodic benefit cost (Note 13) |
(2,478) | - | (2,478) | (2,589) | - | (2,589) | |||||||||||
|
Postretirement changes other than net periodic benefit cost (Note 13) |
(158) | - | (158) | (3,965) | - | (3,965) | |||||||||||
| Change in net assets | (19,254) | (194,776) | (214,030) | 21,637 | 124,100 | 145,737 | |||||||||||
|
Net assets at beginning of year |
167,625 |
1,265,694 |
1,433,319 |
145,988 |
1,141,594 |
1,287,582 |
|||||||||||
|
Net assets at end of year |
$ |
148,371 |
$ |
1,070,918 |
$ |
1,219,289 |
$ |
167,625 |
$ |
1,265,694 |
$ |
1,433,319 |
|||||
The accompanying notes are an integral part of these financial statements.
