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Nonprofiteer
← THE NATIONAL ACADEMIES CORPORATION

Form 990 for tax year 2022

Filed by THE NATIONAL ACADEMIES CORPORATION.

Totals

Total revenue
$210,574
Total expenses
$1,502,804
Contributions and grants received
$0
Grants paid
$883,371
Program service revenue
$0
Investment income
$142,096
Other revenue
$68,478
Total assets, end of year
$17,769,242
Total liabilities, end of year
$202,831
Net assets or fund balances, end of year
$17,566,411
Program services expenses (Part IX)
$1,343,394
Management and general expenses
$159,410
Fundraising expenses
$0
Program service expenses (Part III)
$1,343,394

Program services were 89.4% 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.

  • 3 · Investment income

    total $97,824 · excluded $97,824

  • 6a · Gross rents

    real property $68,478

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $68,478

  • 6d · Net rental income or loss

    total $68,478 · excluded $68,478

  • 7a · Gross sales of assets other than inventory

    securities $1,083,122

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

    securities $1,038,850

  • 7c · Gain or loss

    securities $44,272

  • 7d · Net gain or loss

    total $44,272 · excluded $44,272

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $883,371 · program services $883,371

  • 11a · Fees: management

    total $7,737 · management and general $7,737

  • 11c · Fees: accounting

    total $31,452 · management and general $31,452

  • 11f · Fees: investment management

    total $56,886 · management and general $56,886

  • 11g · Fees: other

    total $35,000 · management and general $35,000

  • 13 · Office expenses

    total $1,855 · management and general $1,855

  • 14 · Information technology

    total $800 · management and general $800

  • 16 · Occupancy

    total $69,856 · program services $63,159 · management and general $6,697

  • 19 · Conferences, conventions and meetings

    total $773 · management and general $773

  • 22 · Depreciation, depletion and amortization

    total $396,864 · program services $396,864

  • 23 · Insurance

    total $18,210 · management and general $18,210

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,991 · end of year $59,441

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $2,185

  • 10a · Land, buildings and equipment: cost or other basis

    $16,260,526

  • 10b · Land, buildings and equipment: accumulated depreciation

    $11,128,519

  • 10c · Land, buildings and equipment, net

    beginning of year $5,402,345 · end of year $5,132,007

  • 12 · Investments: other securities

    beginning of year $15,074,623 · end of year $12,575,609

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $15,941 · end of year $6,566

  • 25 · Other liabilities

    beginning of year $34,900 · end of year $196,265

  • 27 · Net assets without donor restrictions

    beginning of year $3,192,010 · end of year $2,505,607

  • 28 · Net assets with donor restrictions

    beginning of year $17,245,108 · end of year $15,060,804

Mission and programs · 2022

Mission

SEE SCHEDULE OTHE NATIONAL ACADEMIES CORPORATION (TNAC) OWNS AND MAINTAINS THE ARNOLD AND MABEL BECKMAN CENTER, A CONFERENCE AND STUDY CENTER IN IRVINE, CALIFORNIA, FOR THE BENEFIT OF THE NATIONAL ACADEMY OF SCIENCES, THE NATIONAL ACADEMY OF ENGINEERING, THE NATIONAL ACADEMY OF MEDICINE, AND THE NATIONAL RESEARCH COUNCIL.

Activities or mission (Part I)

THE NATIONAL ACADEMIES CORPORATION (TNAC) OWNS AND MAINTAINS THE ARNOLD AND MABEL BECKMAN CENTER, A CONFERENCE AND STUDY CENTER IN IRVINE, CALIFORNIA, FOR THE BENEFIT OF THE NATIONAL ACADEMY OF SCIENCES, THE NATIONAL ACADEMY OF ENGINEERING, THE NATIONAL ACADEMY OF MEDICINE, AND THE NATIONAL RESEARCH COUNCIL.

  • THE NATIONAL ACADEMIES CORPORATION (TNAC) OWNS AND MAINTAINS THE ARNOLD AND MABEL BECKMAN CENTER, A CONFERENCE AND STUDY CENTER IN IRVINE, CALIFORNIA, FOR THE BENEFIT OF THE NATIONAL ACADEMY OF SCIENCES, THE NATIONAL ACADEMY OF ENGINEERING, THE NATIONAL ACADEMY OF MEDICINE, AND THE NATIONAL RESEARCH COUNCIL.

    Expenses $1,343,394 · Grants $883,371

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

Listed in Part VII

  • Marcia McNutt

    PRESIDENT TO 6/30, CHAIR 7/1

    Total calculated
    $1,096,880
    From this org
    $0
    From related orgs
    $1,011,756
    Other
    $85,124
    Hours/week
    2 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $767,674 related
    Bonus
    $0
    Other
    $0 + $244,082 related
    Deferred
    $0 + $56,650 related
    Nontaxable benefits
    $0 + $28,474 related
    Filer's total
    $0 + $1,096,880 related

  • John Anderson

    CHAIR TO 6/30, PRESIDENT 7/1

    Total calculated
    $1,082,577
    From this org
    $0
    From related orgs
    $996,608
    Other
    $85,969
    Hours/week
    2 + 37.5 related

    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

  • Victor Dzau

    BOARD MEMBER

    Total calculated
    $1,082,556
    From this org
    $0
    From related orgs
    $996,421
    Other
    $86,135
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $754,308 related
    Bonus
    $0
    Other
    $0 + $242,113 related
    Deferred
    $0 + $56,650 related
    Nontaxable benefits
    $0 + $29,485 related
    Filer's total
    $0 + $1,082,556 related

  • Jacqueline K Barton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Thomas E Everhart

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anthony A James

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Roger L McCarthy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Krzysztof Palczewski

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • William H Press

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 19 related

  • David Tirrell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Alton Romig

    EXECUTIVE SECRETARY

    Total calculated
    $420,970
    From this org
    $0
    From related orgs
    $334,345
    Other
    $86,625
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $296,324 related
    Bonus
    $0 + $6,440 related
    Other
    $0 + $31,581 related
    Deferred
    $0 + $56,650 related
    Nontaxable benefits
    $0 + $29,975 related
    Filer's total
    $0 + $420,970 related

  • Kenneth Fulton

    EXECUTIVE DIRECTOR

    Total calculated
    $409,721
    From this org
    $0
    From related orgs
    $336,298
    Other
    $73,423
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $320,993 related
    Bonus
    $0 + $4,839 related
    Other
    $0 + $10,466 related
    Deferred
    $0 + $56,650 related
    Nontaxable benefits
    $0 + $16,773 related
    Filer's total
    $0 + $409,721 related

  • Mary Salmon

    CHIEF FINANCIAL OFFICER

    Total calculated
    $391,719
    From this org
    $0
    From related orgs
    $342,399
    Other
    $49,320
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $305,284 related
    Bonus
    $0 + $9,654 related
    Other
    $0 + $27,461 related
    Deferred
    $0 + $41,400 related
    Nontaxable benefits
    $0 + $7,920 related
    Filer's total
    $0 + $391,719 related

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
METHODS USED TO ESTABLISH COMPENSATION COMPENSATION FOR OFFICERS IS PAID BY THE NATIONAL ACADEMY OF SCIENCES (NAS), A RELATED ORGANIZATION, AND COMPENSATION DECISIONS ARE MADE BY NAS IN ACCORDANCE WITH ITS POLICIES AND PROCEDURES. FOR EXAMPLE, COMPENSATION DECISIONS FOR DISQUALIFIED PERSONS AS DEFINED IN IRC SECTION 4958 ARE MADE ANNUALLY BY AN EXECUTIVE COMPENSATION COMMITTEE COMPOSED OF INDEPENDENT MEMBERS ON THE BASIS OF COMPARABILITY DATA AND THERE IS A RECORD OF THEIR 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
9 November 2023
IRS schema version
2022v5.0
Source object
202343139349305794

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