| MEMBERS OR STOCKHOLDERS |
FORM 990, PART VI, SECTION A, LINES 6, 7A, AND 7B THE ORGANIZATION IS A PRIVATE MEMBERSHIP ORGANIZATION. THE NAS CONSTITUTION PROVIDES THAT THE ACADEMY SHALL CONSIST OF MEMBERS, MEMBERS EMERITI AND FOREIGN 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 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 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. |
| CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT |
FORM 990, PART VI, SECTION B, LINES 12B AND 12C 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. |
| PROCESS OF DETERMINING COMPENSATION |
FORM 990, PART VI, SECTION B, LINE 15 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 REQUIRED TO BE FILED ALONG WITH STATES |
FORM 990, PART VI, SECTION C, LINE 17 NAS FILES RETURNS IN THE STATES LISTED ON THE 990 PART VI SECTION C LINE 17. IN ADDITION, NAS FILES CHARITABLE SOLICITATION REGISTRATIONS WITH A 990 ATTACHED IN THE FOLLOWING STATES: AL, AK, AZ, AR, CO, CT, DC, FL, GA, HI, KY, ME, MD, MA, MI, MN, MS, NH, NJ, NM, NY, ND, OH, OK, PA, RI, TN, UT, VA, WA, WV, WI. |
| HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC |
FORM 990, PART VI, SECTION C, LINE 19 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. |
| OTHER CHANGES IN NET ASSETS OR FUND BALANCES |
FORM 990, PART XI, LINE 9 AMOUNT CONSISTS OF: UNREALIZED GAIN ON DERIVATIVES $1,284,360 UNREALIZED GAIN ON CHARITABLE GIFT ANNUITIES $177,814 LOSS ON ADVANCED BOND REFUNDING ($3,833,229) ---------- ($2,371,055) |
Attach to Form 990 or 990-EZ.