National Academy Of Engineering Fund
- Assets
- $96.8m
- Revenue
- $10.4m
- Investments
- $49.2m
- Employees
- 0
- Location
- Washington, DC
- Founding
- 07/1973
- Data as of
- 12/2020
- EIN
- 23-7284092
Organization Overview
National Academy Of Engineering Fund is located in Washington, DC. The organization was established in 1973. According to its NTEE Classification (U12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Academy Of Engineering Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, National Academy Of Engineering Fund generated $10.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $6.6m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, National Academy Of Engineering Fund has awarded 20 individual grants totaling $34,173,686. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
NATIONAL ACADEMY OF ENGINEERING FUND (NAEF) SUPPORTS THE ACTIVITIES OF (SEE SCHEDULE O)THE NATIONAL ACADEMY OF ENGINEERING (NAE).
Describe the Organization's Program Activity:
Part 3 - Line 4a
NAE PROGRAMS THAT ADDRESS RELEVANT ISSUES IN ENGINEERING FIELD INCLUDING, BUT NOT LIMITED TO, EDUCATION, ENGINEERING PRACTICE, AND THE ENGINEERING WORKFORCE, ENGINEERING AND THE ENVIRONMENT, ENGINEERING, THE ECONOMY, AND SOCIETY, INFORMATION TECHNOLOGY AND SOCIETY, ENGINEERING ETHICS, FRONTIERS OF ENGINEERING, MANUFACTURING, DIVERSITY, AND PUBLIC POLICY AND PROGRAM REVIEWS.
NAE PRESENTS SEVEN AWARDS: CHARLES STARK DRAPER PRIZE FOR ENGINEERING, FRITZ J. AND DOLORES H. RUSS PRIZE, BERNARD M. GORDON PRIZE FOR INNOVATION IN ENGINEERING AND TECHNOLOGY EDUCATION, ARTHUR M. BUECHE AWARD, SIMON RAMO FOUNDERS AWARD, GIBBS BROTHERS MEDAL, AND J. C. HUNSAKER AWARD IN AERONAUTICAL ENGINEERING. ACTIVITIES INCLUDE SOLICITING NOMINATIONS, SELECTION OF RECIPIENTS, ANNOUNCEMENT OF THE RECIPIENTS, AND PRESENTATION OF THE PRIZES.
NAE MEMBER PROGRAMS:ORGANIZATION AND ADMINISTRATION OF THE ANNUAL MEETING AND PUBLICATION OF NAE MEMORIAL TRIBUTES.
SUPPORT FOR NRC AND NAS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol K Hall Home Secretary | OfficerTrustee | 1 | $0 |
Roger L Mccarthy Treasurer From (july-Dec) | OfficerTrustee | 1 | $0 |
Donald C Winter Chair | OfficerTrustee | 1 | $0 |
James M Tien International Secretary | OfficerTrustee | 1 | $0 |
John L Anderson President | OfficerTrustee | 37.5 | $0 |
Martin B Sherwin Treasurer (jan-June) | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Makena Capital Management Investment Advisor | 12/30/21 | $116,582 |
Simon Quick Advisors Investment Advisor | 12/30/21 | $469,021 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,957,432 |
| Investment income | $601,724 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$48,894 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,361,868 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $740,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $449,230 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,552,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,705,839 |
| Pledges and grants receivable | $7,179,575 |
| Accounts receivable, net | $581,246 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,439 |
| Investments—publicly traded securities | $34,751,775 |
| Investments—other securities | $49,150,932 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,384,188 |
| Total assets | $96,772,994 |
| Accounts payable and accrued expenses | $2,117,270 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,117,270 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $94,655,724 |
Grants Awarded
Over the last fiscal year, National Academy Of Engineering Fund has awarded $3,500,229 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: SUPPORT FOR NAS PROGRAMS | $3,250,229 |
Cambridge, MA PURPOSE: 2021 BERNARD M. GORDON PRIZE | $250,000 |
Grants Recieved
Over the last fiscal year, we have identified 24 grants that National Academy Of Engineering Fund has recieved totaling $1,389,602.
| Awarding Organization | Amount |
|---|---|
Clark Charitable Foundation Inc Bethesda, MD PURPOSE: ENGINEERGIRL PROGRAM | $400,000 |
Alfred P Sloan Foundation New York, NY PURPOSE: TO PROVIDE ACTIONABLE INSIGHTS TO THE ENGINEERING EDUCATION COMMUNITY ABOUT EXISTING AND POTENTIAL NEW APPROACHES FOR INCREASING THE NUMBER OF URM ENGINEERING UNDERGRADUATE, GRADUATE, AND POSTGRADUATE STUDENTS AND FACULTY IN US COLLEGES AND UNIVERSITIES | $249,296 |
Robert W Galvin Foundation Chicago, IL PURPOSE: PUBLIC CHARITY | $200,000 |
Alfred P Sloan Foundation New York, NY PURPOSE: TO ENABLE THE PLANNING SUBCOMMITTEE (ESTABLISHED BY NAES RACIAL JUSTICE & EQUITY COMMITTEE) AND NAE STAFF TO CONDUCT A LITERATURE REVIEW AND LANDSCAPE SCAN ON FIVE TOPICAL AREAS TO IDENTIFY COLLABORATORS AND EXISTING BEST PRACTICES | $149,965 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $110,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $93,450 |
Endowment Analysis
| Beg. Balance | $41,449,588 |
| Earnings | $6,552,628 |
| Net Contributions | $10,953,431 |
| Grants | $862,172 |
| Ending Balance | $58,093,475 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Academy Of Engineering Fund Washington, DC | $96,772,994 | $10,361,868 |
The Foundation Of The Virginia Air And Space Center And The Hampton Hampton, VA | $546,737 | $591,543 |
Csab Inc Towson, MD | $974,753 | $312,499 |
National Propane Gas Foundation Washington, DC | $4,168,194 | $375,560 |
American Friends Of The Us-Israel Binational Science Foundation North Bethesda, MD | $35,127 | $77,500 |
Wwbbc Alexandria, VA | $15,312 | $0 |
D&m Foundation Great Falls, VA | $16 | $0 |