NATIONAL ACADEMY OF SCIENCES

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1863

Legal Domicile

Principal Officer

MARCIA MCNUTT

Phone

2023343003

Tax Period

2023-01-01 to 2023-12-31

NATIONAL ACADEMY OF SCIENCES, founded in 1863, is a major nonprofit in the Science & Technology sector that reported $324.6M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $364.3M exceeded revenue, resulting in a 12% operating deficit.

Mission

THE NATIONAL ACADEMY OF SCIENCES WAS FORMED UNDER A CHARTER PASSED AS AN ACT OF INCORPORATION BY THE UNITED STATES CONGRESS AND SIGNED INTO LAW ON MARCH 3, 1863. 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.

Program Service Accomplishments

Program 1

Expenses: $186,222,752 Revenue: $1,321

PERFORMANCE IN CONNECTION WITH CONTRACTS AND GRANTS WITH THE U.S. GOVERNMENT IN ACCORDANCE WITH THE NATIONAL ACADEMY OF SCIENCES' CONGRESSIONAL CHARTER.

Program 2

Expenses: $94,281,301 Revenue: $9,435,923

STUDIES, PROJECTS AND OTHER SERVICES IN CONNECTION WITH PRIVATE GRANTS AND OTHER ARRANGEMENTS EXCLUSIVE OF WORK FUNDED BY THE U.S. GOVERNMENT.

Program 3

Expenses: $6,498,592 Revenue: $271,782

ENDOWMENT AND TRUST ACTIVITIES REPRESENTING SCIENTIFIC PRIZES, AWARDS, AND SUPPORT OF RESEARCH.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $274,904,240

Program Service Revenue $9,200,986

Investment Income $37,442,486

Other Revenue $3,019,430

TOTAL REVENUE $324,567,142

Expense Breakdown

Grants Paid $67,552,609

Salaries & Benefits $162,581,476

Fundraising Expenses $4,072,701

Program Expenses $287,002,645

Other Expenses $134,176,133

TOTAL EXPENSES $364,349,582

Year-over-Year Comparison

	2023	2022	Change
Revenue	$324,567,142	$279,925,416	+0.2%
Expenses	$364,349,582	$342,729,113	+0.1%
Net Income	$-39,782,440	$-62,803,697	-0.4%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

1382

Volunteers

4230

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$5,036,079

Total Directors

$1,160,751

Key Employees

$1,498,393

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARCIA MCNUTT	PRESIDENT	37.50	Officer Director	$1,061,843	$87,658	$1,149,501
DIANE E GRIFFIN	VICE PRESIDENT	19.00	Officer Director	$0	$0	$0
NANCY C ANDREWS	NAS COUNCIL MEM/HOME SEC(BEG 7/1/23)	19.00	Officer Director	$0	$0	$0
SUSAN R WESSLER	HOME SECRETARY (END 6/30/23)	19.00	Officer Director	$0	$0	$0
JOHN G HILDEBRAND	INTERNATIONAL SECRETARY	19.00	Officer Director	$0	$0	$0
WILLIAM H PRESS	TREASURER	19.00	Officer Director	$0	$0	$0
HUDA AKIL	NAS COUNCIL MEMBER	4.00	Director	$11,250	$0	$11,250
JOHN C BOOTHROYD	NAS COUNCIL MEMBER	4.00	Director	$0	$0	$0
RUTH S DEFRIES	NAS COUNCIL MEMBER (END 6/30/23)	4.00	Director	$0	$0	$0
JOSEPH S FRANCISCO	NAS COUNCIL MEMBER (END 6/30/23)	4.00	Director	$0	$0	$0
KATHERINE H FREEMAN	NAS COUNCIL MEMBER (BEG 7/1/23)	4.00	Director	$0	$0	$0
ANGELA M GRONENBORN	NAS COUNCIL MEMBER	4.00	Director	$0	$0	$0
MARY LOU GUERINOT	NAS COUNCIL MEMBER (BEG 7/1/23)	4.00	Director	$0	$0	$0
ANDREA J LIU	NAS COUNCIL MEMBER	4.00	Director	$0	$0	$0
DAVID J MELTZER	NAS COUNCIL MEMBER	4.00	Director	$0	$0	$0
CAROL L PRIVES	NAS COUNCIL MEMBER (BEG 7/1/23)	4.00	Director	$0	$0	$0
KENNETH A RIBET	NAS COUNCIL MEMBER	4.00	Director	$0	$0	$0
GENE E ROBINSON	NAS COUNCIL MEMBER	4.00	Director	$0	$0	$0
GERTRUD M SCHUPBACH	NAS COUNCIL MEMBER (END 6/30/23)	4.00	Director	$0	$0	$0
MICHAEL S WITHERELL	NAS COUNCIL MEMBER (BEG 7/1/23)	4.00	Director	$0	$0	$0
HAO WU	NAS COUNCIL MEMBER	4.00	Director	$0	$0	$0
JOHN ANDERSON	PRESIDENT - NAE	37.50	Officer	$1,027,185	$93,860	$1,121,045
VICTOR DZAU	PRESIDENT - NAM	37.50	Officer	$1,026,973	$94,050	$1,121,023
GREGORY SYMMES	CHIEF PROGRAM OFFICER	37.50	Officer	$422,374	$95,469	$517,843
LORY WINGATE	CHIEF OPERATING OFFICER	37.50	Officer	$417,929	$97,089	$515,018
EBUN JOHNSON	CHIEF FINANCIAL OFFICER(BEG 8/12/23)	37.50	Officer	$249,616	$64,489	$314,105
MARY SALMON	CHIEF FINANCIAL OFFICER (END 7/7/23)	37.50	Officer	$251,455	$46,089	$297,544
MONICA FEIT	EXECUTIVE DIRECTOR, HMD	37.50	Key Emp	$282,034	$90,882	$372,916
VICTORIA SHEEHAN	EXECUTIVE DIRECTOR, TRB	37.50	Key Emp	$304,563	$65,186	$369,749
VAUGHAN TUREKIAN	EXECUTIVE DIRECTOR, PGA	37.50	Key Emp	$283,641	$85,792	$369,433
LAUREN ALEXANDER AUGUSTINE	EXECUTIVE DIRECTOR, GULF	37.50	Key Emp	$306,018	$80,277	$386,295
AUDREY MOSLEY	GENERAL COUNSEL	37.50	Highest	$373,692	$73,405	$447,097
DAVID MAY	CHIEF COMMUNICATIONS OFFICER	37.50	Highest	$331,478	$110,190	$441,668
ALTON ROMIG	NAE EXECUTIVE OFFICER	37.50	Highest	$343,207	$95,069	$438,276
KENNETH FULTON	NAS EXECUTIVE DIRECTOR	37.50	Highest	$343,488	$77,795	$421,283
LAURA CASTILLO-PAGE	CHIEF DIVERSITY & INCLUSION OFFICER	37.50	Highest	$333,788	$82,644	$416,432

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$324,567,142	$364,349,582	$1,561,553,741	$-39,782,440
2022	$279,925,416	$342,729,113	$1,493,529,469	$-62,803,697
2021	$311,720,918	$286,829,847	$1,716,496,615	$24,891,071
2020	$351,062,351	$296,824,040	$1,553,804,321	$54,238,311
2019	$406,416,247	$339,454,609	$1,421,374,418	$66,961,638
2018	$298,227,583	$313,096,686	$1,313,044,278	$-14,869,103