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Nonprofiteer
← THE NATIONAL ACADEMIES CORPORATION

Form 990 for tax year 2023

Filed by THE NATIONAL ACADEMIES CORPORATION.

Totals

Total revenue
$281,213
Total expenses
$1,367,454
Contributions and grants received
$0
Grants paid
$641,300
Program service revenue
$0
Investment income
$200,833
Other revenue
$80,380
Total assets, end of year
$17,957,983
Total liabilities, end of year
$324,564
Net assets or fund balances, end of year
$17,633,419
Program services expenses (Part IX)
$1,128,331
Management and general expenses
$239,123
Fundraising expenses
$0
Program service expenses (Part III)
$1,128,331

Program services were 82.5% 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 $31,977 · excluded $31,977

  • 6a · Gross rents

    real property $80,380

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $80,380

  • 6d · Net rental income or loss

    total $80,380 · excluded $80,380

  • 7a · Gross sales of assets other than inventory

    securities $720,984

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

    securities $552,128

  • 7c · Gain or loss

    securities $168,856

  • 7d · Net gain or loss

    total $168,856 · excluded $168,856

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $641,300 · program services $641,300

  • 11a · Fees: management

    total $10,750 · management and general $10,750

  • 11c · Fees: accounting

    total $34,696 · management and general $34,696

  • 11f · Fees: investment management

    total $43,005 · management and general $43,005

  • 11g · Fees: other

    total $122,460 · management and general $122,460

  • 13 · Office expenses

    total $2,885 · management and general $2,885

  • 14 · Information technology

    total $1,929 · management and general $1,929

  • 16 · Occupancy

    total $72,808 · program services $68,390 · management and general $4,418

  • 22 · Depreciation, depletion and amortization

    total $418,641 · program services $418,641

  • 23 · Insurance

    total $18,980 · management and general $18,980

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $59,441 · end of year $33,002

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,185 · end of year $2,232

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

    $16,285,307

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

    $11,547,160

  • 10c · Land, buildings and equipment, net

    beginning of year $5,132,007 · end of year $4,738,147

  • 12 · Investments: other securities

    beginning of year $12,575,609 · end of year $13,184,602

  • 19 · Deferred revenue

    beginning of year $6,566 · end of year $6,763

  • 25 · Other liabilities

    beginning of year $196,265 · end of year $317,801

  • 27 · Net assets without donor restrictions

    beginning of year $2,505,607 · end of year $1,833,817

  • 28 · Net assets with donor restrictions

    beginning of year $15,060,804 · end of year $15,799,602

Mission and programs · 2023

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 $1,128,331 · Grants $641,300

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Marcia McNutt

    CHAIR

    Total calculated
    $1,149,501
    From this org
    $0
    From related orgs
    $1,061,843
    Other
    $87,658
    Hours/week
    2 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $810,895 related
    Bonus
    $0
    Other
    $0 + $250,948 related
    Deferred
    $0 + $61,400 related
    Nontaxable benefits
    $0 + $26,258 related
    Filer's total
    $0 + $1,149,501 related

  • John Anderson

    PRESIDENT

    Total calculated
    $1,121,045
    From this org
    $0
    From related orgs
    $1,027,185
    Other
    $93,860
    Hours/week
    2 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $781,883 related
    Bonus
    $0
    Other
    $0 + $245,302 related
    Deferred
    $0 + $61,400 related
    Nontaxable benefits
    $0 + $32,460 related
    Filer's total
    $0 + $1,121,045 related

  • Victor Dzau

    BOARD MEMBER

    Total calculated
    $1,121,023
    From this org
    $0
    From related orgs
    $1,026,973
    Other
    $94,050
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $781,674 related
    Bonus
    $0
    Other
    $0 + $245,299 related
    Deferred
    $0 + $61,400 related
    Nontaxable benefits
    $0 + $32,650 related
    Filer's total
    $0 + $1,121,023 related

  • Jacqueline K Barton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Thomas E Everhart

    BOARD MEMBER (END 12/31/23)

    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
    $438,276
    From this org
    $0
    From related orgs
    $343,207
    Other
    $95,069
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $298,602 related
    Bonus
    $0 + $11,750 related
    Other
    $0 + $32,855 related
    Deferred
    $0 + $61,400 related
    Nontaxable benefits
    $0 + $33,669 related
    Filer's total
    $0 + $438,276 related

  • Kenneth Fulton

    EXECUTIVE DIRECTOR

    Total calculated
    $421,283
    From this org
    $0
    From related orgs
    $343,488
    Other
    $77,795
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $328,538 related
    Bonus
    $0 + $7,373 related
    Other
    $0 + $7,577 related
    Deferred
    $0 + $61,400 related
    Nontaxable benefits
    $0 + $16,395 related
    Filer's total
    $0 + $421,283 related

  • Mary Salmon

    CHIEF FIN. OFFICER (END 07/07/23)

    Total calculated
    $297,544
    From this org
    $0
    From related orgs
    $251,455
    Other
    $46,089
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $176,831 related
    Bonus
    $0 + $7,344 related
    Other
    $0 + $67,280 related
    Deferred
    $0 + $28,531 related
    Nontaxable benefits
    $0 + $17,558 related
    Filer's total
    $0 + $297,544 related

  • Ebun Johnson

    CHIEF FIN. OFFICER (BEG 8/12/23)

    Total calculated
    $314,105
    From this org
    $0
    From related orgs
    $249,616
    Other
    $64,489
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $225,280 related
    Bonus
    $0 + $22,000 related
    Other
    $0 + $2,336 related
    Deferred
    $0 + $31,933 related
    Nontaxable benefits
    $0 + $32,556 related
    Filer's total
    $0 + $314,105 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
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202443109349303209

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