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← NATIONAL ACADEMY OF ENGINEERING FUND

Form 990 for tax year 2022

Filed by NATIONAL ACADEMY OF ENGINEERING FUND.

Totals

Total revenue
$6,453,990
Total expenses
$8,938,082
Contributions and grants received
$5,268,203
Grants paid
$5,551,900
Program service revenue
$263,200
Investment income
$922,544
Other revenue
$43
Total assets, end of year
$106,510,410
Total liabilities, end of year
$4,845,345
Net assets or fund balances, end of year
$101,665,065
Program services expenses (Part IX)
$5,551,900
Management and general expenses
$2,219,495
Fundraising expenses
$1,166,687
Program service expenses (Part III)
$5,551,900

Program services were 62.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $3,750

  • 1b · Membership dues

    $539,800

  • 1f · All other contributions, gifts and grants

    $4,724,653

  • 1g · Noncash contributions included above

    $128,746

  • 2a · Program service revenue: NAT'L MEETING REGIST.

    total $263,200 · related or exempt $263,200

  • 3 · Investment income

    total $705,416 · unrelated business $225,059 · excluded $480,357

  • 7a · Gross sales of assets other than inventory

    securities $19,206,024

  • 7b · Less cost or other basis and sales expenses

    securities $18,988,896

  • 7c · Gain or loss

    securities $217,128

  • 7d · Net gain or loss

    total $217,128 · excluded $217,128

  • 10a · Gross sales of inventory

    $6,626

  • 10b · Cost of goods sold

    $6,626

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: OTHER REVENUE

    total $43 · excluded $43

  • 11e · Other revenue, total

    $43

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,989,400 · program services $4,989,400

  • 2 · Grants to domestic individuals

    total $312,500 · program services $312,500

  • 3 · Grants to foreign organizations and individuals

    total $250,000 · program services $250,000

  • 11f · Fees: investment management

    total $520,754 · management and general $520,754

  • 24a · Other expenses: REIMBURSED EXPENSES

    total $2,834,496 · management and general $1,667,809 · fundraising $1,166,687

  • 24b · Other expenses: CREDIT CARD FEES

    total $27,048 · management and general $27,048

  • 24c · Other expenses: TAXES

    total $3,884 · management and general $3,884

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $17,419,800 · end of year $7,850,828

  • 3 · Pledges and grants receivable

    beginning of year $5,041,950 · end of year $5,154,142

  • 4 · Accounts receivable

    beginning of year $199,943 · end of year $1,017,182

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,547 · end of year $24,432

  • 11 · Investments: publicly traded securities

    beginning of year $32,866,816 · end of year $30,066,430

  • 12 · Investments: other securities

    beginning of year $63,075,776 · end of year $61,095,559

  • 15 · Other assets

    beginning of year $1,885,939 · end of year $1,301,837

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,587,047 · end of year $4,845,345

  • 27 · Net assets without donor restrictions

    beginning of year $39,776,499 · end of year $32,510,218

  • 28 · Net assets with donor restrictions

    beginning of year $78,143,225 · end of year $69,154,847

Mission and programs · 2022

Mission

NAEF SUPPORTS THE ACTIVITIES OF THE NATIONAL ACADEMY OF ENGINEERING (NAE). NAE OPERATES WITHIN THE CHARTER AND FRAMEWORK OF THE NATIONAL ACADEMY OF SCIENCES (NAS) AND ADVISES THE FEDERAL GOVERNMENT ON MATTERS OF SCIENCE AND TECHNOLOGY. NAE ALSO SPONSORS ENGINEERING PROGRAMS AIMED AT MEETING NATIONAL NEEDS, ENCOURAGES EDUCATION AND RESEARCH, AND RECOGNIZES THE SUPERIOR ACHIEVEMENTS OF ENGINEERS.

Activities or mission (Part I)

NATIONAL ACADEMY OF ENGINEERING FUND (NAEF) SUPPORTS THE ACTIVITIES OF (SEE SCHEDULE O)THE NATIONAL ACADEMY OF ENGINEERING (NAE).

  • NAE PROGRAMS THAT ADDRESS RELEVANT ISSUES IN ENGINEERING FIELD INCLUDING, BUT NOT LIMITED TO, EDUCATION, ENGINEERING PRACTICE, AND THE ENGINEERING WORKFORCE, ENGINEERING AND THE ENVIRONMENT, ENGINEERING, THE ECONOMY, AND SOCIETY, INFORMATION TECHNOLOGY AND SOCIETY, ENGINEERING ETHICS, FRONTIERS OF ENGINEERING, MANUFACTURING, DIVERSITY, AND PUBLIC POLICY AND PROGRAM REVIEWS.

    Expenses $2,802,500 · Grants $2,802,500

  • NAE MEMBER PROGRAMS:ORGANIZATION AND ADMINISTRATION OF THE ANNUAL MEETING AND PUBLICATION OF NAE MEMORIAL TRIBUTES.

    Expenses $1,308,059 · Grants $1,308,059 · Revenue $263,200

  • NAE PRESENTS SEVEN AWARDS: CHARLES STARK DRAPER PRIZE FOR ENGINEERING, FRITZ J. AND DOLORES H. RUSS PRIZE, BERNARD M. GORDON PRIZE FOR INNOVATION IN ENGINEERING AND TECHNOLOGY EDUCATION, ARTHUR M. BUECHE AWARD, SIMON RAMO FOUNDERS AWARD, GIBBS BROTHERS MEDAL, AND J. C. HUNSAKER AWARD IN AERONAUTICAL ENGINEERING. ACTIVITIES INCLUDE SOLICITING NOMINATIONS, SELECTION OF RECIPIENTS, ANNOUNCEMENT OF THE RECIPIENTS, AND PRESENTATION OF THE PRIZES.

    Expenses $1,169,478 · Grants $1,169,478

  • SUPPORT FOR NRC AND NAS

    Expenses $271,863 · Grants $271,863

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Donald C Winter

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • John L Anderson

    PRESIDENT

    Total calculated
    $1,080,460
    From this org
    $0
    From related orgs
    $996,608
    Other
    $83,852
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $655,366 related
    Bonus
    $0 + $99,125 related
    Other
    $0 + $242,117 related
    Deferred
    $0 + $56,650 related
    Nontaxable benefits
    $0 + $29,319 related
    Filer's total
    $0 + $1,082,577 related

  • Corale L Brierley

    VICE PRESIDENT (JAN-JUNE)

    Total calculated
    $50,000
    From this org
    $0
    From related orgs
    $50,000
    Other
    $0
    Hours/week
    1

  • Carol K Hall

    HOME SECRETARY

    Total calculated
    $50,000
    From this org
    $0
    From related orgs
    $50,000
    Other
    $0
    Hours/week
    1

  • James M Tien

    INTERNATIONAL SECRETARY

    Total calculated
    $50,000
    From this org
    $0
    From related orgs
    $50,000
    Other
    $0
    Hours/week
    1

  • Wesley L Harris

    TRUSTEE & VICE PRESIDENT (JULY-DEC)

    Total calculated
    $25,000
    From this org
    $0
    From related orgs
    $25,000
    Other
    $0
    Hours/week
    1

  • Roger L McCarthy

    TREASURER

    Total calculated
    $50,000
    From this org
    $0
    From related orgs
    $50,000
    Other
    $0
    Hours/week
    1

  • Nadine Aubry

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Anjan Bose

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Josephine Cheng

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Brenda J Dietrich

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • James O Ellis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Katharine G Frase

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Edward D Lazowska

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Robin K McGuire

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Howard B Rosen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Alan I Taub

    TRUSTEE (JAN-JUNE)

    Total calculated
    $0
    Hours/week
    1

  • Yannis C Yortos

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jose G Santiesteban

    TRUSTEE (JULY-DEC)

    Total calculated
    $0
    Hours/week
    1

  • Susan L Graham

    TRUSTEE (JULY-DEC)

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE NATIONAL ACADEMY OF ENGINEERING FUND DOES NOT COMPENSATE ANY OFFICERS OR DIRECTORS. ALL COMPENSATION SHOWN IN PART VII OF THE FORM 990, AND SCHEDULE J, PAGE 2, PART II, IS PAID BY A RELATED ORGANIZATION OF THE FUND, THE NATIONAL ACADEMY OF SCIENCES (NAS). THE COMPENSATION POLICY OF NAS IS AS FOLLOWS: THE COMPENSATION POLICY OF NAS AS IT RELATED TO NAEF PROVIDES THAT COMPENSATION DECISIONS FOR THE NAE PRESIDENT, A DISQUALIFIED PERSON AS DEFINED IN IRC SECTION 4958, IS MADE ANNUALLY BY THE NAS EXECUTIVE COMPENSATION COMMITTEE COMPOSED OF INDEPENDENT DIRECTORS ON THE BASIS COMPATIBILITY DATA, AND THERE IS A RECORD OF ITS DELIBERATIONS AND DECISIONS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
26 September 2023
IRS schema version
2022v5.0
Source object
202342869349302374

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