| FORM 990, PART III, LINE 1 |
THE NATIONAL ACADEMY OF SCIENCES (NAS) WAS FORMED UNDER A CHARTER PASSED AS AN ACT OF INCORPORATION BY THE UNITED STATES CONGRESS AND SIGNED INTO LAW ON MARCH 3, 1863. THE NAS OPERATES AS A PRIVATE MEMBERSHIP ORGANIZATION OF DISTINGUISHED SCHOLARS ENGAGED IN SCIENTIFIC, ENGINEERING, OR MEDICAL RESEARCH. NAS IS DEDICATED TO THE FURTHERANCE OF SCIENCE FOR THE GENERAL WELFARE. NAS PROVIDES ADVICE AND OTHER SERVICES TO THE U.S. GOVERNMENT AND OTHER PRIVATE SPONSORS. THE NAS IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR UNRELATED BUSINESS INCOME. |
| FORM 990, PART VI, SECTION A, LINE 1 |
PART-TIME OFFICERS' COMPENSATION FOR THE VICE PRESIDENT, TREASURER, INTERNATIONAL SECRETARY AND HOME SECRETARY, TIME ESTIMATES ARE BASED ON A PERCENTAGE LEVEL OF EFFORT, WHICH RANGES BETWEEN 25% AND 50%. NAS REIMBURSES EACH PART-TIME OFFICER'S HOME INSTITUTION FOR THE APPLICABLE PERCENTAGE OF SALARY PAID BY THE HOME INSTITUTION. |
| FORM 990, PART VI, SECTION A, LINE 6 |
MEMBERS OR STOCKHOLDERS THE ORGANIZATION IS A PRIVATE MEMBERSHIP ORGANIZATION. THE NAS CONSTITUTION PROVIDES THAT THE ACADEMY SHALL CONSIST OF MEMBERS, MEMBERS EMERITI AND INTERNATIONAL ASSOCIATES. MEMBERS OF NAS ARE ELECTED BY THE MEMBERS IN RECOGNITION OF THEIR DISTINGUISHED AND CONTINUING ACHIEVEMENTS IN ORIGINAL RESEARCH. THE OFFICERS OF THE ACADEMY ARE CHOSEN FROM THE MEMBERSHIP, AND AMENDMENTS TO THE ORGANIZATION'S CONSTITUTION AND BYLAWS, AND ELECTION OF NEW MEMBERS, OFFICERS, AND COUNCIL MEMBERS REQUIRE A VOTE OF THE MEMBERS. THE OFFICERS OF THE ORGANIZATION, TOGETHER WITH TWELVE MEMBERS TO BE ELECTED, SHALL CONSTITUTE THE NATIONAL ACADEMY OF SCIENCES (NAS) COUNCIL FOR THE TRANSACTION OF SUCH BUSINESS AS MAY BE ASSIGNED TO IT BY THE CONSTITUTION, BYLAWS, OR THE MEMBERSHIP. THE NAS COUNCIL HAS GENERAL SUPERVISION OVER THE ELECTION OF THE OFFICERS OF THE ORGANIZATION, AND SHALL SET THE DATE FOR ELECTION AND APPOINTING NOMINATING COMMITTEES. THE NAS COUNCIL MAY DELEGATE ITS AUTHORITY TO APPROPRIATE OFFICIALS OF THE ORGANIZATION EXCEPT WITH RESPECT TO THOSE AUTHORITIES CONCERNING MEMBERSHIP AFFAIRS. |
| FORM 990, PART VI, SECTION A, LINE 7A |
PLEASE SEE FORM 990, PART VI, SECTION A, LINE 6 NARRATIVE. |
| FORM 990, PART VI, SECTION A, LINE 7B |
PLEASE SEE FORM 990, PART VI, SECTION A, LINE 6 NARRATIVE. |
| FORM 990, PART VI, SECTION B, LINE 11B |
FORM 990 REVIEW PROCESS THE DRAFT 990 IS PREPARED BY THE OFFICE OF THE CHIEF FINANCIAL OFFICER. IT IS REVIEWED BY THE OFFICE OF GENERAL COUNSEL AND AN EXTERNAL TAX ADVISOR BEFORE BEING REVIEWED BY THE AUDITING COMMITTEE. THE FINAL FORM IS THEN PROVIDED TO THE NAS COUNCIL PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C |
CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT ANNUALLY, THE GENERAL COUNSEL LEADS A DISCUSSION AT A MEETING OF OFFICERS AND COUNCIL MEMBERS AT WHICH THE CONFLICT OF INTEREST POLICY IS REVIEWED. OFFICERS AND COUNCIL MEMBERS ARE ASKED TO SIGN A STATEMENT THAT THEY WILL ABIDE BY THE ORGANIZATION'S CONFLICT OF INTEREST POLICIES AND PROCEDURES. OFFICERS, COUNCIL MEMBERS, AND KEY EMPLOYEES ARE ASKED TO COMPLETE AN ANNUAL QUESTIONNAIRE REGARDING CERTAIN BUSINESS TRANSACTIONS THAT COULD POTENTIALLY RESULT IN A CONFLICT OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 |
PROCESS OF DETERMINING COMPENSATION COMPENSATION DECISIONS FOR ALL DISQUALIFIED PERSONS AS DEFINED IN IRC SECTION 4958 ARE MADE ANNUALLY BY AN EXECUTIVE COMPENSATION COMMITTEE COMPOSED OF INDEPENDENT MEMBERS ON THE BASIS OF EXECUTIVE COMPENSATION COMPATIBILITY DATA, INCLUDING A MARKET COMPENSATION SURVEY CONDUCTED BY THE OFFICE OF HUMAN RESOURCES THAT REVIEWS THE COMPENSATION OF THE HEADS OF THE LEADING UNIVERSITIES AND CHIEF EXECUTIVE OFFICERS OF SIMILAR ORGANIZATIONS. THERE IS A RECORD OF THE EXECUTIVE COMPENSATION COMMITTEE'S DELIBERATIONS AND DECISIONS. COMPENSATION DECISIONS ARE MADE ANNUALLY FOR OTHER KEY AND HIGH PAID EMPLOYEES BY SENIOR STAFF ON THE BASIS OF COMPARIBILITY DATA. |
| FORM 990, PART VI, SECTION C, LINE 19 |
HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC NAS MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE GOVERNING DOCUMENTS AND ANNUAL FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. |
| FORM 990, PART XI, LINE 9: |
POST EMPLOYMENT VALUATION ADJUSTMENT 5,893,632. UNREALIZED GAIN ON CHARITABLE GIFT ANNUITIES 362,789. UNREALIZED LOSS ON DERIVATIVES -82,743. |
Attach to Form 990 or 990-EZ.