The Andreww. Mellon Foundation

The AndrewW. Mellon Foundation

Report fromJanuary 1, 1985 through December31, 1985

140 East 62nd Street, New York, New York 10021 (212) 838-8400

Trustees William 0. Baker, Chairman Frank H. T. Rhodes Hanna H. Gray Charles A. Ryskamp Paul Mellon* John E. Sawyer Timothy Mellon John R. Stevenson Arjay Miller

Honorary Trustee Paul Mellon

Officers John E. Sawyer President J. Kellum Smith, Jr. Vice President and Secretary KennethJ. Herr TreasurerandAssistant Secretary

Program Directors David Saltonstall Claire List James M. Morris William Robertson IV

General Counsel Sullivan & Cromwell

*Mr. Mellon retired as a Trustee inJune 1985 and was elected an Honorary Trustee.

THE ANDREW W. MELLON FOUNDATION, a Not-for-Profit Corpora- tion underthe laws ofthe State ofNew York, is the resultofthe consolidation onJune30, 1969 ofOldDominion Foundation intoAvalon Foundation with the name ofthe latter being changedto TheAndrew W Mellon Foundation. Avalon Foundation had beenfounded by Ailsa Mellon Bruce, daughter of Andrew W Mellon, in December 1940 as a common law charitable trust. In 1954 it was incorporated under the Membership Corporations Law ofthe State ofNew York. OldDominion Foundation had been established in 1941 under the laws ofthe Commonwealth of Virginia by Paul Mellon, son of Andrew W Mellon. The purpose of the Foundation is to "aid and promote such religious, charitable, scientific, literary, and educational purposes as may be in fur- therance ofthe public welfare or tend to promote the well-doing or well- being ofmankind." Within this broad charter the Foundation currently makes grants on a selective basis to institutions in higher education; in cultural affairs and the performing arts; in medical, public health, and population education and research; and in certain areas ofconservation, natural resources, the environment, andpublicaffairs. Applications are considered throughout the year, and no specialforms are required. Ordinarily a simple letter setting forth the need, the nature and the amount ofthe request and thejustificationfor it, together with evidence ofsuitable classification bythe InternalRevenue Service andanysup- plementary exhibits an applicant may wish to submit, will suffice to assure consideration. Applicants must realize, however, that the Foundation is able to respondfavorably only to a smallfraction ofthe requests that it receives. The Foundation does not awardfellowships or othergrants to individuals or make grants toprimarily localorganizations.

7 PRESIDENT'S REPORT

Convinced that population pressures loom among the most urgent problems confronting much ofthe world, the Foundation has over the past decade steadily increased its efforts to address the problem in a variety of ways. These have ranged from research in reproductive biology to efforts to inform and enlarge understanding of choices that seem essential to ad- vancing human dignity and a decent standard of living for hundreds of mil- lions on this planet. Our efforts in this area, apart from their timeliness as a response to an immense and growing practical problem, exemplify the Foundation's long-term concerns for the quality of human life, excellence in accomplishment, preservation of resources, and those ideals of civilization that have found their best expression in the humanistic tradition. During its early years the Foundation provided steady support to the Population Council, Planned Parenthood Federation of America, and Planned Parenthood of New York City. In 1977, in the belief that few efforts to improve the conditions of life in most third-world countries can be fulfilled ifpopulation numbers are not reasonably controlled and that rapid population increase is an impediment to "the well-doing or well-being of mankind"-to quote the Foundation's charter-we substantially enlarged our population program. From 1977 through 1985 the Foundation made grants totalling more than $50 million in this program, including $9,792,850 in 1985. Most of this support has been provided since 1979, responsive to a critical need for "countercyclical funding" as other sources reduced their commitment to the field. The report that follows has been prepared primarily by J. Kellum Smith, Jr., Vice President of the Foundation, who has directed our programs in this area.

I. The GlobalPopulation Problem Having taken until the 1830s to reach its first billion and another century for its second, the human species is now adding to its current 4.9 billion at the rate of nearly a billion every decade. In 1985 the world's population increased by a record 82 million. The rate of increase slowed very slightly in 1985, a fact that has led some to confuse the issue; but the growing size of the population base and the pyramidal shape ofthe age-distribu- 8 tion graph (with nearly half the population of the less-developed countries not yet 16 years old) are bringing unprecedented numbers ofyoung people into their reproductive years, producing not only highest-ever increases in the actual number ofpeople but also the certainty that annual increases will continue to grow for years to come, barring such disasters as mass starva- tion or nuclear war. One must envision a population almost inevitably ris- ing to more than 7 billion and, if growth continues unchecked, expanding to 10 billion or more by the middle ofthe next century. For many years demographers, economists, and other social scientists have warned of the consequences of high rates ofpopulation growth. Twen- ty-five years ago one read ofthe coming "population explosion" or "population bomb. " Today we tend to use more temperate terms-oddly so when one considers that many ofthe consequences then forecast are now upon us and readily visible. Perhaps in inevitable reaction to the Malthusian view that unrestrained population growth is bad not only for places where it is most evident but for the globe, there has even arisen a school of thought which argues that growing human numbers are an absolute good, that technology will make resources infinite, that economic development is en- hanced by population increase, and that every time we discourage a human birth we risk losing a Mozart. Although in the view of most population experts this school of thought is wrong in the large, it is right on enough par- ticular situations (regions and times, for example, in which economic development gained velocity as an expanding population base supported widening transportation networks and markets) so that it has compelled the "population community" to rethink certain premises and develop its analyses with greater care. On this background, it may be worthwhile to examine seven major fea- tures of the global population problem. 1. The overall global increase is skewed toward the less-developed, poorer nations, which accounted for 74 million of the estimated 82-million increase in 1985. Industrial, northern nations are now close to population equilibrium, and at least two are actually losing population-experiencing death rates that slightly exceed birth rates. For less-developed nations ex- cluding China the overall rate of increase is 2.4 percent, with a doubling time of29 years. For some ofthe more populous third-world nations, such as Algeria, Bangladesh, Egypt, Ghana, Iran, Iraq, Kenya, Morocco, Ni- geria, Pakistan, Sudan, Tanzania, Uganda, and Zaire, rates of increase ap- proach or exceed 3 percent-with a doubling time of about 23 years. 9 2. In general, the regions in which these large increases are occurring are least able to cope with them-to provide schooling, health care, jobs, and that broad infrastructure most would consider necessary for a reasonably good life. Their economies typically depend on marginal agriculture conducted in conditions of insufficient or irregular rainfall, on landholdings too small to support proliferating generations, and in soil either underen- dowed by nature or exhausted by overcultivation. Surplus rural populations flock to the cities, hoping to find employment but frequently failing to do so. Unemployment and underemployment are frighteningly high, poverty endemic, living conditions dreadful (often in shack colonies on city out- skirts), education largely unavailable; and governments' efforts to improve matters are impeded by the tide of newcomers propelled by the population increases of 15 to 20 years before. While other factors may compound diffi- culties, in virtually all cases per-capita economic and social development is retarded ifnot set back by the high rates ofpopulation growth being experi- enced. 3. Expanding growth rates during the years since World War II have been the consequence primarily of reductions in death rates, especially in infant mortality-reflecting the availability of antibiotics and other advances in medicine and public health-which have greatly increased survival into the childbearing years. Since no one wishes to restore high death rates, population growth can only be restrained by bringing down birth rates. The difficulty of doing so derives from three very different causes: (a) the power and universality ofnatural sex drives, (b) many people's wish for tradition- ally large numbers of children, and (c) ignorance, absence, or nonuse of contraception. The distribution of the latter two causes among regions and nations varies considerably. In Kenya, which has a growth rate of 4.1 percent (a doubling time of 17 years), women regularly declare a wish to have eight or more children, and contraception tends to be ignored even where available. In many other areas, however, women will say that they want no more children and would welcome contraception. Yet even limited means ofcontraception are available, as apractical matter, to only aminority ofthe population of the less-developed world. Moreover, traditional methods of spacing births, such as breast-feeding (which can reduce a mother's fertility for as much as two or three years), have been supplanted in many regions by practices seen as more modern and less demanding. In such circumstances, successive births typically follow one another more closely. These situations obviously call for different remedies. Efforts are being 10 made, and increasingly so, to persuade people to have smaller families in exchange for better expectations in life. Economic incentives and disincentives are being employed, and in some cases coercion. Most members ofthe "population community" deplore coercion but see no alternative to economic incentives and disincentives in areas where preference for many children conflicts with per-capita advance and community development. For every woman who wants a large family there are counterparts- though perhaps not in the same village-who do not, or who have already produced as many children as, or more than, they can feed, clothe, house, and raise to adulthood. It is a global tragedy, in terms of sheer human suf- fering, that so few ofsuch women have practical access to contraceptive services. No one knows exactly how much lower the fertility rates of the third world would be if such services were generally available, but every pro- vider of family planning knows the need and can count hundreds or thou- sands of pregnancies and births averted. It is safe to say that, but for such family-planning services as do exist in the third world, our global population would be both larger and hungrier than it is today and that, were such services more widely available, it would be smaller and better off. 4. Contraceptive services in much ofthe third world are inadequate, or are insufficiently used, for several reasons. The most obvious is money. Al- though some estimates suggest that as much as $2 billion is spent annually for family planning in the less-developed countries, even that figure repre- sents a per-capita expenditure of about 56 cents. The estimated annual cost of providing contraceptive services to one third-world woman is between $10 and $20, which indicates how many women go unserved. But money is not the only problem: - Until recently, many third-world governments have favored high rates of population growth, not having yet comprehended their social and economic effects. On this question a profound change became evident at the Mexico City Conference on Population and Development in August 1984 where, in sharp contrast to views that had been expressed at Bucha- rest a decade earlier, nearly every third-world government joined most Western nations in recognizing the necessity for stabilizing population growth. - Some governments, especially those closely associated with certain religions, have been slow to encourage family planning or have actively dis- couraged it even when officially acknowledging the deleterious effects of rapid population growth. 11 - Even when a national family-planningprogram has been adopted, its administration may be plagued by the same inadequacies that affect other governmental efforts, as in agriculture or industry. - Decisions about numbers of children to have and whether or not to use contraceptives are culture-bound, privately reached, and not fully ac- cessible to outside inquiry. Social scientists have made limited progress in understanding the motives behind family-size choices or in learning how to encourage smaller families. - Cultural and social differences among peoples and tribes make certain forms of contraception unacceptable or even taboo; illiteracy and regional dialects combine to complicate explanation, instruction, labelling, and use. - Within the household, husband and wife may disagree, the wife feeling that more children will be an intolerable burden and the husband feeling that his masculinity or status is at stake. Similarly, in some cultures women feel their femininity to be defined by childbearing. - Perhaps most important and universal, no presently available form of contraception is really well suited to third-world use, in the sense of being absolutely simple, safe, reversible, and cheap, requiring no sophistica- tion or unusual hygiene in application, possessing extended shelf life, re- sisting conditions ofheat and humidity, and being insensitive to such vagar- ies as failure to keep track of the calendar. Nearly everyone agrees that the current contraceptive methods, if made widely enough available, could do much to reduce birth rates; but nearly everyone also agrees that better methods are badly needed. Poignant evidence ofthis need may be found in the fact that an estimated 50 million abortions are performed annually, many or perhaps most of them because a safe, simple, and reliable contraceptive was not available. Even under the best conditions-in a modern clinic or hospital-abortion is an undesirable means of birth control; but worldwide it is one of the most frequently used methods, and in some third- world countries complications from illegal abortions cause up to 70 percent of maternal deaths (deaths associated with pregnancy or birth). 5. The social and economic problems within individual countries cre- ated by high rates of population growth are accompanied by more general consequences that affect resources important to the world as a whole. Pop- ulation pressures, for example, are rapidly eroding the world's rain forests, which are being cut for their timber and fuel wood or, frequently, for the sake of a few seasons of farming-which may be all the poor soil that un- 12 derlies them can provide. In many areas ofthe earth, cultivation ofmarginal soils has led to rapid erosion by water and wind and to the soil's inability to retain such rain as may fall. The consequence, "desertification," may also ensue upon aridity when trees and shrubs, whose roots help to hold water and nourish the soil, are cut to be burned for cooking and warmth. Where people are numerous and poor, virtually all the ground cover that will burn has often been cut and the soil made useless for agriculture. 6. Migration and migration pressure across national borders may prove -over the longer run-even more destabilizing than population migration from rural to urban areas within individual countries. By definition, reliable figures on illegal migration are hard to obtain; but it is clear that wherever there are surplus populations-as Latin America, the Mediterra- nean, the Middle East, and Asia have demonstrated-the poor and unem- ployed seek to migrate when economic and social conditions are more in- viting in an adjacent or even remote region. Although migration serves to some extent as a "safety valve" forpopulation increase, it also exacerbates international tensions and assures that rapid population increase in one nation will be directly felt beyond its borders. The U.S., with its long and permea- ble borders and high standard of living, will continue to attract migrants, and most observers agree that the official count of legal and illegal immi- grants understates the reality. Our nearest neighbor to the south, Mex- ico-which is itself experiencing immigration pressure from its neigh- bors-is currently adding two million people a year to its population and has little prospect of employing its surplus labor force at home. Part of Mexico's population problem will probably continue to be exported to the U.S. 7. In many societies, early family formation is customary or frequent and adolescent motherhood is common. It is increasingly recognized that such early childbearing has serious disadvantages. Babies are often of low birthweight, which threatens their prospects. Their mothers' health may suffer more than if pregnancy and birth had been deferred for a few years, and opportunities for education and economic advancement usually termi- nate with the first birth. In addition, an early first birth correlates with a larger final family size than generally results when the first birth is deferred. From the point of view of reducing population growth, therefore, preventing adolescent pregnancy and birth carries a relatively high priority. This problem has become particularly serious in the U.S., where 15 percent of births are to teenagers-most of them to unmarried teenagers 13 who did not intend to become pregnant. If in the U.S. adolescent fertility has not contributed to excessive population growth (the growth rate of the U.S. is only 0.7 percent, not counting immigration), it most surely injures the life chances of both the babies and their mothers. The situation is worst among American blacks, almost 40 percent of whose babies are now being born to teenagers. Nearly a third of those mothers have a second baby before they are twenty, and nearly half live in a family unit without a resident man. Black single mothers and their children, whose numbers have been growing rapidly, are typically stranded in poverty. The growing numberof white teenagers who have babies also face damaging effects upon their, and their babies', life prospects. Other developed nations experience significantly lower rates of teen- age pregnancy than the U.S. The evidence indicates that this is largely because they have made sex education an integral part of the school curriculum and effectively provided contraceptive services to young people. For the U.S., the blighting effects ofteenage pregnancy pose an urgent problem that deserves priority on the national agenda.

II. The Foundation's Population Program During the period 1977 through 1985 the Foundation has supported population activities at several levels: basic research in reproductive biology; the training ofthe young scientists who will conduct that research in the years to come; development and testing of new contraceptives; research and training in demography and its allied social sciences (to provide more accurate population figures and assess the efficacy of various intervention efforts, and to achieve better understanding ofwhat affects choice offamily size); research and analysis useful in establishing national and international policies with respect to population; technical assistance to family-planning programs (significant direct support is generally beyond our means); and the provision of accurate, understandable information on population to constituencies ranging from third-world nurse-practitioners to government officials. In our expanded population program, the Population Council has loomed large and deserves special mention. As the leading and most com- prehensive organization in the field, with a wide international network, it has been given a total of $12,327,000 from 1977 through 1985 for the follow- 14 ing purposes: general support; postdoctoral training in reproductive biology and in the social sciences as they relate to population control; international program development, including a program of small grants in support of research in reproductive biology and in the social science of population; policy-oriented social-science research, analysis, and technical assistance; research on male reproductive physiology; and support of the work of the International Committee for Contraception Research, which oversees the Council's contraceptive-development work. Among the many organizations in the population field, the Council is literally the only one actively and continuously engaged in the broad-scale development and testing of new contraceptives. It can claim authorship of two promising ones now ready, the Copper-T IUD and the NORPLANTO -the latter a subdermal implant, approved for use in Sweden, Finland, In- donesia, and Thailand and being widely tested in the U.S. and elsewhere, which provides protection for at least five years but can be removed at any time. (Although the company that manufactured the Copper-T IUD for sale in the U.S. has ceased to do so because ofpotential litigation risks in this country, that IUD as developed by the Population Council remains approved for use both here and abroad. Other manufacturers have been li- censed to produce it for use in international family-planning programs.) The Foundation has also assisted a score of more specialized population organizations with grants in support ofdemography and research and analysis on population problems, publication and dissemination of information in usable form to various constituencies, and technical assistance to third-world family-planning programs. We have also assisted Planned Par- enthood of New York City (PPNYC) in grappling with the regional problems ofteenage pregnancy and in maintaining the availability ofthe region's network of contraceptive services, as well as in playing an appropriate role in the effort to expand sex education (with due attention to discouraging promiscuity) in the region's public schools. In 1977, after consultation with experts in the population field, who pointed to a need for substantially increased support of research and training in reproductive biology and contraceptive development, the staff recommended and the Trustees approved a program of grants to medical schools and schools ofpublic health with strong centers for such research and training. In 1977, grants were made to Columbia and Harvard. In 1978, Baylor, the University ofCalifornia, San Francisco, Johns Hopkins, Mayo, and the 15 University of Pennsylvania were added; in 1979, the University of Califor- nia, San Diego, the University of Michigan, and the University of Pitts- burgh; in 1980, Rockefeller University and the Salk Institute; in 1981, Yale; in 1982, the Worcester Foundation for Experimental Biology; in 1983 and 1984, Vanderbilt University and the University of North Carolina. Sixteen centers have now been assisted in the program (apart from similar general support to the Population Council) at a total cost of $19.5 million. Although the activities supported by the program are primarily in reproductive biology, some of the centers also carry on research and training in the social sciences as they relate to population programs. The grants to those centers have embraced both kinds of activity and have been designed to foster cooperation between the biologists and the social scientists. All the grants have been for use chiefly in support of young faculty members and postdoctoral scientists, with some provision for their research costs. The intention has been to attract talent into the field and provide bridging funds between termination of the usual postdoctoral fellowship and a young faculty member's achievement of a research record that permits competition for a tenure-track appointment and/or research support from the customary external sources. The early career trajectories of the young scientists assisted by the program indicate that it has substantially enlarged the entry of able researchers into this field. In 1979 the staff opened discussions with representatives of the Ford and Rockefeller Foundations concerning the desirability of a joint effort in support of highly focussed research projects in reproductive biology. The other two foundations had conducted their own programs for many years; each had staff members with credentials in reproductive biology; and each had its network of external advisors. Although both foundations had earlier supported research at U.S. institutions, they had shifted their focus substantially toward overseas centers. From 1980 through 1983 a joint Ford- Rockefeller-Mellon program supported research projects in several areas deemed by outstanding scientists (convened to define the program and ad- vise on proposals) particularly promising for the development of new contraceptive techniques. In 1983, following a shift ofprogram emphasis, Ford terminated its participation in the program. We and Rockefeller have continued at a somewhat reduced level. We have made grants in this program totalling an average of$1 million a year from 1980 through 1985 for projects at 19 research centers. 16 III. Assessment What has been accomplished by the expenditure of $50 million on population programs over a nine-year period? It is frequently difficult to attri- bute a definite accomplishment to a foundation grant, because ofthe possi- bility that what happened might have happened in other ways or on other funds. And, as is clear from Part I of this review, the world's population problems are far from being under control. More than half of the $50 million was devoted to training, and we know that many young scientists, both U.S. and foreign, depended on our support for the opportunities given them at the centers we assisted. We also know that their careers in reproductive biology or population science have been substantially advanced by the training and research experience they have received. Present career paths and placements confirm that. In assisting 16 such centers (17 if we in- clude the Population Council), the Foundation has helped set the stage for the next generation of inquiry in reproductive biology and population science-on which superior contraceptive techniques and their effective application must depend. In our grants to other kinds of population organizations and activities (complete lists appear in our Annual Reports) there was also a substantial training component, and there is ample evidence that a good many young people moved forward on our grants. Broader evaluation ofthis part of our program must rest on assessment of the performance of the organizations that were assisted. Most are among the leading organizations in the population field, and they play many important roles. We believe it can be demonstrated that they have helped the field to develop usefully during the nine- year period. Some examples: - Much more is known today than a decade earlier about the population of the world region by region-its distribution, its characteristics, its fertility, its age profile, its social and economic condition. We have better systems of counting and also better mathematical methods of extrapolating from thin or scattered figures. - The field has learned a good deal about cultural resistances and other motivational factors that underlie differential fertility rates-though we are still far from an adequate understanding of those factors. - The effect of high population growth rates as a burden and brake on economic and social development is better recognized than formerly- most importantly in the poor nations where high growth is occurring and 17 where policies to counter and cope with it must be devised. Several of our grantees make it their business to respond to requests from members of third-world governments for information, in compact, usable form and in appropriate language, about other nations' experience with various population policies. - Monographs and periodicals in many languages have been made available for the guidance of policy-makers, physicians, administrators of family-planning programs, and other interested audiences in the third world, including up-to-date information on both old and new contraceptives and the latest data on safety and use. - Important advances have been made in local manufacture, packag- ing, labelling, and distribution of contraceptives, with due attention to standards and reliability and to the provision ofsuitable instructions in adequate and culturally acceptable forms. - Family-planning programs now reach more people than ever (though there remains an immense unmet need), and in many areas fertility rates have begun to decline, although annual numerical increases-and population totals-continue to grow as larger numbers of young people enter their reproductive years. - Promising new contraceptive methods have been developed (the NORPLANTS and the Copper-T IUD have been noted), and a number of others with quite good prospects are being tested. In the absence of "the perfect contraceptive," a wide range of good, simple, safe techniques may best meet the needs of diverse cultures and families and of women and men at assorted ages. - Research in reproductive biology has produced leads which, ifwe are fortunate, might make it possible eventually to prevent unwanted fertilization by minute doses ofhormonal substances whose presence in a trace amount will impede fertilization or otherwise neutralize the intricate sequences by which pregnancy is accomplished. During the period under review, the organizations assisted by the Foundation have contributed to these and other developments which make the situation better than it otherwise would have been. Much remains to be done. 18 IV.

Within the Foundation's own affairs, the year 1985 saw the retirement of Paul Mellon, who continuously for more than 40 years has been much more than simply a devoted Trustee and guiding spirit of both The Andrew W. Mellon Foundation and its predecessors. The staff and Trustees expressed their appreciation in the following citation:

The firm decision of Paul Mellon to retire from the Board of The An- drew W. Mellon Foundation inJune 1985-a decision conveyed in a letter of March 1984 which stated that he did not wish "to entertain kindly per- suasion" to extend his term-has stirred in those who have been associated with him here a desire to record our deep appreciation ofthe qualities he contributed to ourjoint efforts to make best use ofthe resources he and his family have made available. Over a span of nearly half a century, as Chairman of the Old Domin- ion Foundation, which he founded in 1941, and as Trustee of the Avalon Foundation, established by his sister Ailsa, on through their convergence in 1969 to form The Andrew W. Mellon Foundation, Paul Mellon has shown an unswerving commitment to the best principles of American philanthropy in the constructive use of wealth. In these 45 years ofTrust- eeship he has quietly and thoughtfully presided over the distribution of nearly $900 million to carefully chosen ends. To our Board deliberations he has brought sensitive perception, wide perspective, humor, grace, and wisdom. Even when he said little, his ob- servations and his presence have served to elevate the discussion, to help all parties transcend private interests, and to keep the focus on the larger goals of the Foundation and the institutions and programs it supports. On the occasion of Paul Mellon's retirement, his fellow Trustees wish to express their gratitude for all he has given to this Foundation, in resources and in person, and their thanks for his generosity, his sensitivity, his friendship, and his lasting contribution to the lives of those who have shared in fulfilling a happy challenge.

Briefdescriptions of major grants given in 1985 in selected fields appear immediately after this report, followed by a complete record of all appropriations and payments made during the year. In 1985 the Foundation's qualifying distributions again exceeded the required five percent of asset value, and again both appropriations and payments weiog increased. Net income was $77,941,394 after investment expenses 19 and federal excise tax. Appropriations during the year totalled $64,770,350; grant payments $63,468,663. The market or appraised value of the Foun- dation's net assets on December 31, 1985 was $1,342 million. The total amount appropriated for charitable purposes by The Andrew W. Mellon Founda- tion and its predecessors, the Avalon and Old Dominion Foundations, has now reached $922,833,353.

JOHN E. SAWYER President March 1, 1986

21 Selected Grants in Major Program Areas-1985 HIGHER EDUCATION Area Studies Once again the Foundation offered support for foreign-area studies in a limited number of fields. Matching endowment grants totalling $5,000,000 went to eight universities to sustain their capacity for advanced research, training, and scholarship on Asia. For East Asian Studies, awards were made to Colum- bia University ($750,000), Harvard University ($750,000), The Univer- sity of California, Berkeley ($750,000), The University of Michigan ($750,000), and Princeton University ($600,000); for South Asian Studies, to The University of Chicago ($500,000) and the University of Pennsylva- nia ($400,000); and for Southeast Asian Studies, to the University of Wisconsin-Madison ($500,000). Additional grants concerned with Asia were made to the National Academy of Sciences ($225,000) for use by the Committee on Scholarly Communication with the People's Republic of China in support of an American Academic Office in Beijing, and to Tufts University ($165,000) for use by The Fletcher School of Law and Diplomacy in support of a program on Southwest Asia and Islamic Civilization. Matching endowment grants totalling $1,000,000 went to four universities to sustain their capacity for teaching and research on Latin Ameri- ca: Tulane University ($300,000), the University of Florida ($250,000), The University of Texas at Austin ($250,000), and the University of Cal- ifornia, Los Angeles ($200,000). The Foundation also appropriated $265,000 to the University of California, San Diego for fellowships and publications at its Center for U.S.-Mexican Studies; $250,000 to the Woodrow Wilson International Center for Scholars in support of its Latin American Program; and $225,000 to TheJohns Hopkins University for use by the School of Advanced International Studies in support of its Central American and Caribbean Program. Concluding a series of grants for university-based programs in Rus- sian Studies, the Foundation awarded $350,000 to the University of Toronto in support of its Centre for Russian and East European Studies. 22 Research Libraries An appropriation of $1,000,000 was made to the Council on Li- brary Resources, Inc. in support of its newly expanded research program to encourage exploration of the issues and questions raised by a changing information structure, with special attention to the needs of faculty members and students and to the services and responsibilities of academic and research libraries. The Council received a second appropriation ($150,000) toward costs of a documentary film on book and paper preservation, to be produced in cooperation with the Library of Congress and the National Endowment for the Humanities. Additional grants went to the Associa- tion of Research Libraries ($220,000) toward costs of an on-line inventory of research-library collections; to the American Academy in Rome ($350,000) as matching endowment for its library; to The New York Acad- emy of Medicine ($200,000) as matching endowment for the conservation department of its library; and to The American Trust for the British Library ($250,000) toward costs of microfilming Americana titles for acquisition by the British Library. Advanced Research andScholarship Yale University-$1,500,000 to establish the Paul Mellon Profes- sorship, on the occasion of Mr. Mellon's retirement from the Foundation's Board ofTrustees. Grants for special programs went to the American Council of Learned Societies-$640,000 for its American Studies Program; the Na- tional Humanities Center-$480,000 in support of senior fellows; Louisi- ana State University-$235,000 toward costs of the Eighteenth Century Short Title Catalogue; and the Woodrow Wilson National Fellowship Foundation-$195,000 for the administration ofthe Mellon Graduate Fel- lowships in the Humanities. LiberalArts Colleges Appropriations totalling $3,050,000 were made to another 13 institutions to develop fresh combinations in teaching and learning in the arts and sciences: $300,000 to Wake Forest University; $250,000 each to Am- herst College, Bucknell University, Lafayette College, Occidental Col- lege, and Washington and Lee University; $225,000 each to Bates College, Bowdoin College, Colby College, and Kenyon College; $200,000 each to Kalamazoo College, Reed College, and Wheaton College. In a joint program with The William and Flora Hewlett Founda- 23 tion, initiated in 1979, matching endowment grants were made to a final group of nine liberal-arts colleges to establish presidential discretionary funds, the income for institutional renewal, primarily faculty and curriculum development: $125,000 each to Amherst College and Oberlin Col- lege; $87,500 each to Furman University, Lewis and Clark College, Muhlenberg College, and Rhodes College; $75,000 each to Cornell Col- lege (Iowa), DePauw University, and Wofford College. Science, Technology, and the Humanities To help strengthen the relationships between the sciences, engineering, and technology on the one hand and the humanities and social sciences on the other, two grants were made: $300,000 to Rensselaer Poly- technic Institute toward costs of restructuring its undergraduate core curriculum, and $250,000 to the Association of American Colleges to help develop new patterns of humanities and social-science courses within undergraduate engineering education. Minority Education To advance educational opportunities for minority students, the Foundation appropriated $2,936,000 to the College Entrance Examina- tion Board in renewed support of the National Hispanic Scholar Awards Program; $196,000 to Cornell University for an experimental summer research-training program (in cooperation with Princeton, Stanford, and The University of California, Berkeley) for minority undergraduates; $1,250,000 to the United Negro College Fund, Inc. ($750,000 in continued support of strengthening the teaching of the humanities on its member- college campuses; $100,000 toward costs of developing a deferred-giving and bequest program; and $400,000 for its Premedical Summer Institute at Fisk University); and $425,000 to PREP, Inc. for its pre-college Summer Program. Appalachian Colleges An appropriation of $250,000 was made to The University of Ten- nessee, Knoxville, in continued support of the James R. Stokely Institute for Liberal Arts Education, and $100,000 was given to Berea College to expand scholarship pertaining to the region. Secondary Education Although the Foundation does not make direct grants to secondary 24 schools, several grants were made to help improve their teaching and curricula, especially in the arts and humanities, and to encourage collaboration between the schools and nearby colleges and universities: $650,000 to the Council of Chief State School Officers, $180,000 to Augustana College in Sioux Falls, South Dakota, and $150,000 to the University of Maryland at College Park. Other The Graduate School and University Center of the City University ofNew York-$375,000 in continued support ofthe Community Colleges Project. Marquette University-$350,000 in matching endowment for strengthening teaching and curricula, primarily in the humanities. The University of Michigan-$350,000 for a collaborative program with the Associated Colleges of the Midwest and the Great Lakes Colleges Association to improve undergraduate instruction in several non-western cultures and languages. The University of Chicago ($140,000) and Stanford University ($105,000)-for programs of professional growth and development for faculty members teaching in other colleges and universities in the region.

CULTURAL PROJECTS Museums National Gallery of Art-$3,600,000, of which $3,000,000 was appropriated as matching permanent endowment for its Patrons' Perma- nent Fund for the purchase of art for the collection, and $600,000 for use in television or educational programs associated with the Gallery's exhibitions. Matching endowment grants totalling $2,025,000 were made to the following seven art museums in support of research and publication of substantial scholarly quality: $500,000 to The Art Institute of Chicago; $400,000 to the Whitney Museum of American Art; $300,000 each to The Walters Art Gallery and Toledo Museum of Art; $350,000 to Yale Univer- sity (Yale University Art Gallery and the Yale Center for British Art); and $175,000 to Princeton University (The Art Museum). Palace of Arts and Science Foundation-$300, 000 in support of the Exploratorium's publication program. 25 International Exhibitions Foundation-$125,000 to assist catalogue production and exhibition development. Dance Grants totalling $1,975,000 were made to 14 ballet companies to assist them to commission new work, including fresh adaptations of existing pieces, for their repertoires: $250,000 each to New York City Ballet, Inc. and Ballet Theatre Foundation, Inc. (American Ballet Theatre); $200,000 each to San Francisco Ballet Association and Foundation for the Joffrey Ballet, Inc.; $150,000 each to Dance Theatre of Harlem, Inc. and Pennsyl- vania Ballet Association; $125,000 each to Ballet West and Cleveland Bal- let; $100,000 each to Houston Ballet Foundation, Pacific Northwest Ballet Association, and The Pittsburgh Ballet Theatre, Inc.; $75,000 each to Original Ballets Foundation, Inc. (The Feld Ballet), The Ohio Chamber Ballet, and North Carolina Dance Theater. Awards totalling $920,000 were made to 11 modern dance groups for similar purposes: $185,000 to Dance Theater Foundation, Inc. (Alvin Ailey American Dance Theater); $130,000 to Paul Taylor Dance Founda- tion, Inc.; $125,000 to Cunningham Dance Foundation, Inc.; $75,000 each to Nikolais/Louis Foundation for Dance, Inc. (Nikolais Dance Theatre) and Martha Graham Center of Contemporary Dance, Inc.; $60,000 each to Twyla Tharp Dance Foundation, Inc., Pilobolus, Inc., and The Bella Lewitzky Dance Foundation; $50,000 each to Trisha Brown Dance Company, Inc., The Dean Dance and Music Foundation, Inc., (Laura Dean Dancers and Musicians), and Lucinda Childs Dance Founda- tion, Inc. Art Conservation Permanent endowment grants totalling $1,500,000, two with matching conditions, were made to the following three training institutions: Institute of Fine Arts Foundation-New York University, University of Delaware-Winterthur Museum, and, without a matching requirement, Buffalo State College Foundation, Inc. (for the Art Conservation Depart- ment at Cooperstown). Carnegie-Mellon University-$790,000 for use by the Mellon In- stitute in continued support of the Research Center on Materials of the Artist and Conservator. 26 MEDICINE, PUBLIC HEALTH, AND POPULATION Medicaland Public-Health Education andResearch Three-year grants to 15 major private medical schools were renewed: $500,000 each to Columbia University, Harvard University, and The Johns Hopkins University; $400,000 each to Duke University, Stanford University, The University of Chicago, and Yale University; $350,000 each to the University of Pennsylvania and Washington Univer- sity; $325,000 each to Cornell University and New York University; $225,000 each to Case Western Reserve University, the University of Rochester, Vanderbilt University, and Yeshiva University (Albert Einstein College of Medicine). These grants, totalling $5,350,000, will make possible at these schools continued junior-faculty appointments for a number of able young scientists, to carry them through immediate postdoctoral years to a point at which they are eligible for tenure-track appointments or can compete independently for research support. The program reflects, in its initiation and continuation since 1973, the Foundation's paramount con- cern for the development and advancement ofthe most promising talents in its several fields of interest. Under a program, begun in 1980, in which assistance has now been given to seven institutions for research and training in clinical epidemiology, renewed support totalling $1,300,000 was given to two universities for use by their Schools of Medicine: $650,000 each to Harvard University and TheJohns Hopkins University. The Johns Hopkins University-$500,000 for use by its School of Hygiene and Public Health, principally for junior faculty appointments in the Department of Biostatistics. Population In continuation ofa program, begun in 1977, in which assistance has now been given to 17 major centers of research in reproductive biology and population dynamics, renewed grants totalling $3,150,000 were made to five such centers in support of young research faculty members and postdoctoral scientists: $700,000 to Columbia University, $650,000 to Yale University, and $600,000 each to Baylor College of Medicine, The Univer- sity ofMichigan, and the Worcester Foundation for Experimental Biology. In addition, $1,357,000 was awarded this year for reproductive- biology research projects recommended by a panel of outside scientific re- viewers: $360,000 to Baylor College ofMedicine; $297,000 to The Univer- 27 sity of Vermont; $275,000 to Vanderbilt University; $240,000 to Duke University; $185,000 to Clinical Research Institute of Montreal. The Population Council was awarded $3,000,000 for use toward general support; postdoctoral fellowships in reproductive biology and in the social sciences as they relate to population control; international program development; research on male reproductive physiology; an external grant program; policy-oriented social-science research, analysis, and technical assistance; and program expansion in sub-Saharan Africa. The Council was also awarded $700,000 in support of the contraceptive- development activities of its International Committee for Contraception Research. Princeton University-$385,000 for use by its Office of Population Research toward costs of a visiting faculty program, studies on population distribution and migration, and junior-professional research salaries, and for general support. The International Women's Health Coalition-$375,000 toward costs of providing training, technical assistance, and other forms of support to reproductive-health projects in developing nations. Population Reference Bureau, Inc. -$375,000 to strengthen its capacities for research and analysis in demography and population policy. The Global Committee of Parliamentarians on Population and De- velopment-$250,000 toward costs of its information program. The Center for Population Options-$175,000 to assist the Center's research and other activities concerned with prevention of adolescent pregnancy.

CONSERVATION AND THE ENVIRONMENT The Foundation made awards in this program area that included: $1,000,000 to The Trust for Public Land as a matching grant for its Perma- nent Land Preservation Fund; $450,000 to Clean Sites, Inc. in support of the scientific and engineering work of its Technical Review and Compli- ance Division; $295,000 to Yale University for use by its School of Forestry and Environmental Studies, and $90,000 to Harvard University for use by Harvard Forest in a cooperative program for forest microbiology; $330,000 to the Missouri Botanical Garden toward costs of developing its TROPICOS data bank and of associated fieldwork; $280,000 to the World Wildlife Fund for basic ecosystems research on tropical forests; $275,000 28 to Resources for the Future for a study of feasible incentives to reduce the generation of hazardous wastes in the organic-chemical industry; and $245,000 to the California Institute of Technology for use by the Environ- mental Quality Laboratory for research on transport and fates of water pollutants.

PUBLIC AFFAIRS The Brookings Institution-$260,000 for a study of existing systems of undergraduate student financial aid and an analysis of the likely effects ofalternative programs; and $340,000 to support a study ofwhether an "underclass" is emerging in the United States largely outside the nation's mainstream economy, and if so why, and what can be done about it. National Bureau of Economic Research, Inc. -$350,000 for use as follows: $200,000 for a series of coordinated studies of the causes of the overvalued dollar and its effects on the American economy, and $150,000 for a study ofthe extent to which undervaluation ofthe yen has been a critical factor in theJapan-U. S. competition. The International Institute for Strategic Studies-$450,000 in support of its research programs. Council on Foreign Relations, Inc.-$250, 000 for its International Affairs Fellowship Program during three academic years beginning in 1985-1986. Children's Television Workshop-$1,500,000 toward costs of developing and producing a major public-television series for schoolchildren about mathematics. WGBH Educational Foundation-$350,000 in support of the production costs of a 13-part public-television series entitled "The Nuclear Age." 29 The Andrew W. Mellon Foundation

Summary ofGrants, 1985

Unpaid Unpaid Jan. 1, Appro- Dec. 31, 1985 priated Paid 1985 Conservation and the Environment ...... $ 1,850,000 $ 3,947,000 $ 3,847,000 $ 1,950,000

Cultural Projects ...... $ 5,623,973 $12,249,000 $10,621,487 $ 7,251,486

Higher Education ...... $26,016,500 $27,087,000 $27,022,826 $26,080,674 Medicine, Public Health, and Population ...... $ 2,180,000 $16,967,350 $18,697,350 $ 450,000

PublicAffairs ...... $ -0- $ 4,520,000 $ 3,280,000 $ 1,240,000 Totals $35,670,473 $64,770,350 $63,468,663 $36,972,160 30 The Andrew W. Mellon Foundation

Classification ofGrants

Unpaid Unpaid CONSERVATION AND Jan. 1, Appro- Dec. 31, THE ENVIRONMENT 1985 priated Paid 1985 American Academy of Arts and Sciences, Cambridge, Mass.: For American participation in the 1985 Young Scientists' Summer Program of the In- ternational Institute for

Applied Systems Analysis ... $ - $ 25,000 $ 25,000 $ Bermuda Biological Station for Research, Inc., Ferry Reach, Bermuda: Matching endowment for its library ...... 100,000 50,000 50,000 Boyce Thompson Institute for Plant Research, Ithaca, N.Y.: For a program of research in forest ecology ...... - 147,000 147,000 California Institute of Technology, Pasadena, Cal.: For use by the Environmental Quality Laboratory for research on transport and fates of water pollutants ...... - 245,000 245,000 Carnegie Institution of Washington, Washington, D.C.: Toward costs of research and training at its Department of Plant Biology ...... 250,000 - 250,000 31

CONSERVATION AND Unpaid Unpaid THE ENVIRONMENT Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Center for Plant Conservation, Jamaica Plain, Mass.: To initiate a national program of plant germplasm conservation in coordina- tion with other botanical institutions ...... $ 200,000 $ - $ 200,000 $ Clean Sites, Inc., Alexandria, Va.: In support ofthe scientific and engineering work of its Technical Review and Compliance Division ...... - 450,000 150,000 300,000 Conservation Foundation, Washington, D.C.: To support a study of options for improving the design and implementation of environmental policy ...... 100,000 100,000 Environmental Law Institute, Washington, D.C.: To transfer its files to the Lexis system ...... 35,000 35,000 Harvard University, Cambridge, Mass.: For use by Harvard Forest in a program for forest microbiology ...... 90,000 90,000 Marine Biological Laboratory, Woods Hole, Mass.: Matching endowment for its library ...... 750,000 - 750,000 Missouri Botanical Garden, St. Louis, Mo.: Toward costs of developing its TROPICOS data bank and of associated field work ...... - 330,000 330,000 National Academy of Sciences, Washington, D.C.: For support of the PLANET EARTH/Geophysics Film Committee ...... 35,000 35,000 32

CONSERVATION AND Unpaid Unpaid THE ENVIRONMENT Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Nature Conservancy, Arlington, Va.: Toward completion of its natural-heritage inventory of the United States ...... $ 250,000 $ - $ 250,000 $ New York Botanical Garden, New York, N.Y.: For use by its Institute of Ecosystem Studies toward costs of its cloud-water project ...... - 115,000 115,000 Research Foundation of the State University of New York, Albany, N.Y.: For use by the State Univer- sity of New York at Stony Brook for a study to explore the usefulness of Hydra as toxicity test organisms ...... - 30,000 30,000 Resources for the Future, Washington, D.C.: For a study of feasible incentives to reduce the generation of hazardous wastes in the organic- chemical industry ...... - 275,000 275,000 For a project on global development and the atmosphere ...... - 35,000 35,000 Trust for Public Land, San Francisco, Cal.: Matching grant for its Perma- nent Land Preservation Fund ...... - 1,000,000 350,000 650,000 University of Miami, Miami, Fla.: Matching funds to strengthen Caribbean and South American collections in the Rosenstiel School of Marine and Atmo- spheric Science library ...... 200,000 - 200,000 33 CONSERVATION AND Unpaid Unpaid THE ENVIRONMENT Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 University of Minnesota, St. Paul, Minn.: For a paleoecological study of the influence of acid deposition upon peatlands ...... $ - $ 140,000 $ 140,000 $ - University of Pennsylvania, Philadelphia, Pa.: For a program of research in forest ecology ...... - 420,000 420,000 World Wildlife Fund, Washington, D.C.: To continue a program of basic ecosystems research on tropical forests ...... - 280,000 280,000 Yale University, New Haven, Conn.: For use by its School of Forestry and Environ- mental Studies in a program of forest microbiology ...... - 295,000 295,000 - Total-Conservation and the Environment $ 1,850,000 $ 3,947,000 $ 3,847,000 $ 1,950,000 34

Unpaid Unpaid Jan. 1, Appro- Dec. 31, CULTURAL PROJECTS 1985 priated Paid 1985 Action for Children's Television, Inc., Cambridge, Mass.: Toward costs of a publication on broadcast, cable, and radio productions for children and teenagers re- lating to the Constitutional Bicentennial ...... - $ 20,000 S 20,000 $ American Dance Festival, Durham, N.C.: For program support ...... 25,000 25,000 American Public Radio Associates, Inc., St. Paul, Minn.: Matching grant for the development of cultural programming for the public-radio system ...... 79,500 79,500 Art Institute of Chicago, Chicago, Ill.: Matching endowment for research and publication of substantial scholarly quality ...... - 500,000 - 500,000 Ballet Theatre Foundation, Inc., New York, N.Y.: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for the repertoire of the American Ballet Theatre ..... - 250,000 250,000 Ballet West, Salt Lake City, Utah: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire ...... 125,000 125,000 35 Unpaid Unpaid CULTURAL PROJECTS Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Brooklyn Institute of Arts and Sciences, Brooklyn, N.Y.: Matching grant for the conservation department of the Brooklyn Museum ...... S 25,000 $ - $ 25,000 $ Trisha Brown Dance Company, Inc., New York, N.Y.: To create new work, including fresh adaptations of existing pieces, for its repertoire ...... 50,000 50,000 Buffalo State College Foundation, Inc., Buffalo, N.Y.: Endowment for the Art Conservation Department at Cooperstown ...... - 500,000 - 500,000 Carnegie-Mellon University, Pittsburgh, Pa.: For the Mellon Institute in support of the Research Center on Materials of the Artist and Conservator ...... - 790,000 250,000 540,000 Central Educational Network, Chicago, Ill.: Toward development costs of the American Children's Television Festival ...... - 25,000 25,000 - Lucinda Childs Dance Foundation, Inc., New York, N.Y.: To create new work, including fresh adaptations of existing pieces, for its repertoire ...... 50,000 50,000 Cleveland Ballet, Cleveland, Ohio:

To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire 125,000 125,000 36

Unpaid Unpaid CULTURAL PROJECTS Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Cleveland Museum of Art, Cleveland, Ohio: Matching endowment for research and publication of substantial scholarly

quality ...... $ 500,000 $ - $1 - $ 500,000 Colonial Williamsburg Foundation, Williamsburg, Va.: Matching grant for its conservation department ...... 72,000 46,750 25,250 Cunningham Dance Foundation, Inc., New York, N.Y.: To create new work, including fresh adaptations of existing pieces, for its repertoire ...... - 125,000 125,000 Dance Theater Foundation, Inc., New York, N.Y.: To create new work, including fresh adaptations of existing pieces, for the repertoire of the Alvin Ailey American Dance Theater ...... - 185,000 185,000 Dance Theatre of Harlem, Inc., New York, N.Y.: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire ...... - 150,000 150,000 Dance/USA, Washington, D.C.: For program support ...... - 60,000 60,000 Dean Dance and Music Foundation, Inc., New York, N.Y.: To create new work, including fresh adaptations of existing pieces, for the repertoire of Laura Dean Dancers and Musicians ...... 50,000 50,000 37 Unpaid Unpaid CULTURAL PROJECTS jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Educational Broadcasting Corporation, New York, N.Y.: For program development ...... $ - $ 250,000 $ 250,000 $ Foundation for the Joffrey Ballet, Inc., New York, N.Y.: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire ...... - 200,000 200,000 Founders Society Detroit Institute of Arts, Detroit, Mich.: Matching endowment for its conservation department .... 450,000 - 300,000 150,000 Martha Graham Center of Contemporary Dance, Inc., New York, N.Y.: To create new work, including fresh adaptations of existing pieces, for its repertoire ...... 75,000 75,000 - Solomon R. Guggenheim Foundation, New York, N.Y.: Matching endowment for research and publication of substantial scholarly quality ...... 400,000 - 125,000 275,000 Harvard University, Cambridge, Mass.: For use by the Fogg Art Museum for its advanced- level conservation training program ...... 95,000 95,000 Houston Ballet Foundation, Houston, Tex.: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire ...... 100,000 100,000 38

Unpaid Unpaid CULTURAL PROJECTS Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Institute of Fine Arts Foundation, New York, N.Y.: For the Conservation Center of the Institute of Fine Arts ...... $ 90,000 $ - $ 90,000 $ Matching endowment for its Conservation Center ...... 500,000 - 500,000 Intermuseum Conservation Association, Oberlin, Ohio: For its advanced programs in conservation ...... 90,000 90,000 International Exhibitions Foundation, Washington, D.C.: In support of catalogue production and exhibition development ...... - 125,000 125,000 Bella Lewitzky Dance Foundation, Los Angeles, Cal.: To create new work, including fresh adaptations of existing pieces, for its repertoire ...... - 60,000 60,000 Lincoln Center for the Performing Arts, Inc., New York, N.Y.: In support of the public television series "Live from Lincoln Center" ...... 854,223 442,987 411,236 Metropolitan Museum of Art, New York, N.Y.: Matching endowment for research and publication of substantial scholarly quality ...... 500,000 - 500,000 39 Unpaid Unpaid CULTURAL PROJECTS Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Museum of Fine Arts, Boston, Mass.: Matching endowment for research and publication of substantial scholarly quality ...... $ 500,000 $ - $ 500,000 $ Museum of Modern Art, New York, N.Y.: Matching endowment for research and publication of substantial scholarly quality ...... 500,000 - 500,000 Museum of Science and Industry, San Francisco, Cal.: Toward costs of surveying science-museum programs for schools ...... 73,000 73,000 Museums Collaborative, Inc., New York, N.Y.: For its Cultural Institutions Management Program ...... 150,000 150,000 National Association for Regional Ballet, Inc., New York, N.Y.: In support of its Artistic Directors Seminar ...... - 20,000 20,000 National Gallery of Art, Washington, D.C.: Matching permanent endowment for the Patrons' Permanent Fund ...... - 3,000,000 3,000,000 For use in television or educational programs associated with its exhibition programs ...... - 600,000 600,000 National Trust for Historic Preservation, Washington, D.C.: For a program of empirical studies of the relation of historic preservation to certain critical urban problems ...... - 250,000 250,000 40

Unpaid Unpaid CULTURAL PROJECTS Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Nelson Gallery Foundation, Kansas City, Mo.: Matching grant for the conservation department of the Nelson-Atkins Museum of Art ...... $ 62,500 $ - $ 62,500 $ New York City Ballet, Inc., New York, N.Y.: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire ...... - 250,000 250,000 New York City Opera, New York, N.Y.: To assist the Opera to develop ways to increase earned and contributed income ...... 100,000 - 100,000 New-York Historical Society, New York, N.Y.: For development of its conservation department .... 135,000 135,000 Nikolais/Louis Foundation for Dance, Inc., New York, N.Y.: To create new work, including fresh adaptations of existing pieces, for the repertoire of the Nikolais Dance Theatre ...... 75,000 75,000 North Carolina Dance Theater, Winston-Salem, N.C.: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire ...... 75,000 75,000 Ohio Chamber Ballet, Akron, Ohio: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire ...... 75,000 75,000 41 Unpaid Unpaid CULTURAL PROJECTS Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Original Ballets Foundation, New York, N.Y.: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for the repertoire of the Feld Ballet ...... $ - $ 75,000 $ 75,000 $ Pacific Northwest Ballet Association, Seattle, Wash.: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire ...... 100,000 100,000 Palace of Arts and Science Foundation, San Francisco, Cal.: To support the Explora- torium's publication program ...... - 300,000 300,000 Pennsylvania Ballet Association, Philadelphia, Pa.: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire ...... 150,000 150,000 Philadelphia Museum of Art, Philadelphia, Pa.: Matching endowment for research and publication of substantial scholarly quality ...... 400,000 400,000 Pierpont Morgan Library, New York, N.Y.: Matching endowment for research and publication of substantial scholarly quality ...... 500,000 - 125,000 375,000 42

Unpaid Unpaid CULTURAL PROJECTS Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Pilobolus, Inc., Washington, Conn.: To create new work, including fresh adaptations of existing pieces, for its repertoire ...... $ - $ 60,000 $ 60,000 $ Pittsburgh Ballet Theatre, Inc., Pittsburgh, Pa.: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire ...... 100,000 100,000 Princeton University, Princeton, N.J.: Matching endowment for research and publication of substantial scholarly

quality at its Art Museum .... 175,000 - 175,000 Research Foundation of the State University of New York, Albany, N.Y.: To provide stipends for students completing their third year of training in the Art Conservation Department at Cooperstown ...... 105,750 _ 105,750 San Francisco Ballet Association, San Francisco, Cal.: To commission new choreo- graphic work, including fresh adaptations of existing pieces, for its repertoire ...... - 200,000 200,000 School of American Ballet, Inc., New York, N.Y.: Matching endowment ...... 150,000 150,000 Paul Taylor Dance Foundation, Inc., New York, N.Y.: To create new work, including fresh adaptations of existing pieces, for its repertoire ...... - 130,000 130,000 43

Unpaid Unpaid CULTURAL PROJECTS Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Twyla Tharp Dance Foundation, Inc., New York, N.Y.: To create new work, including fresh adaptations of existing pieces, for its repertoire ...... $ - $ 60,000 $ 60,000 S Toledo Museum of Art, Toledo, Ohio: Matching endowment for research and publication of substantial scholarly quality ...... - 300,000 300,000 University of Delaware, Newark, Del.: For the Master of Science Pro- gram in the Conservation of Artistic and Historic Objects conducted by the University and the Winterthur Museum ...... 100,000 100,000 Matching endowment for its conservator training program ...... - 500,000 500,000 Vermont Museum and Gallery Alliance, Inc., Montpelier, Vt.: In support of a collections management improvement program ...... 6,000 6,000 Wadsworth Atheneum, Hartford, Conn.: Matching grant for its conservation department .... 50,000 50,000 Walters Art Gallery, Baltimore, Md.: Matching endowment for research and publication of substantial scholarly quality ...... - 300,000 300,000 44

Unpaid Unpaid CULTURAL PROJECTS Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Whitney Museum of American Art, New York, N.Y.: Matching endowment for research and publication of substantial scholarly quality ...... - $ 400,000 $ - $ 400,000 Yale University, New Haven, Conn.: Matching endowment for research and publication of substantial scholarly quality at the Yale Center for British Art ...... 175,000 - 175,000 Matching endowment for research and publication of substantial scholarly quality at the Yale University Art Gallery ...... - 175,000 - 175,000

Total-CulturalProjects $ 5,623,973 $12,249,000 $10,621,487 $ 7,251,486 45 Unpaid Unpaid Jan. 1, Appro- Dec. 31, HIGHER EDUCATION 1985 priated Paid 1985 Academy of American Poets, Inc., New York, N.Y.: Toward costs of cataloguing - and preserving its archive .... $ $ 26,000 $ 26,000 $ Albion College, Albion, Mich.: Matching endowment for a Presidential Discretionary Fund ...... 25,000 25,000 Allegheny College, Meadville, Pa.: Matching endowment for a Presidential Discretionary Fund ...... 62,500 62,500 American Academy in Rome, New York, N.Y.: Matching endowment in support of its library ...... - 350,000 150,000 200,000 American Academy of Arts and Sciences, Cambridge, Mass.: For a collaborative project with the Chinese Academy of Social Sciences to examine the recent development of disciplines in the humanities and social sciences ...... - 75,000 75,000 American Association for the Advancement of Science, Washington, D.C.: In support of its high-school - - science-education project .... 350,000 350,000 American Association of State Colleges and Universities, Washington, D.C.: In support of the National Commission on the Role and Future of State

Colleges and Universities .... 35,000 35,000 46

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 American Council of Learned Societies, New York, N.Y.: For the Council's American Studies Program ...... $ 180,000 $ 640,000 $ 180,000 $ 640,000 In support of its central fellowships programs, and for new program initiatives ...... 250,000 - 250,000 American Library Association, Chicago, Ill.: To publish the proceedings of a preservation institute ...... - 15,000 15,000 American Trust for the British Library, Cambridge, Mass.: Toward costs of microfilming Americana titles for acquisition by the British Library ...... - 250,000 250,000 American University, Washington, D.C.: Matching grant to strengthen teaching and curricula in the arts and sciences ...... 350,000 50,000 300,000 Amherst College, Amherst, Mass.: To develop fresh combinations in teaching and learning in the arts and sciences ...... - 250,000 250,000 Matching endowment for a Presidential Discretionary Fund ...... 125,000 125,000 Armstrong State College, Savannah, Ga.: To compile a videotape archive of lectures by distinguished scholars ...... 35,000 35,000 47

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Asia Society, New York, N.Y.: For programs bringing humanistic approaches to the understanding of con-

temporary Asian issues ...... $ 250,000 $ - $2 - $ 250,000 Association of American Colleges, Washington, D.C.: To help four-year institutions improve their re- cruitment and retention of

two-year college students .... 175,000 125,000 50,000 To develop new patterns of humanities and social-science courses within undergraduate engineering education ...... 250,000 250,000 Association of Research Libraries, Washington, D.C.: Toward costs of an on-line inventory of research- library collections ...... 220,000 220,000 Atlanta University, Atlanta, Ga.: Matching grant to improve programs in the humanities .. 186,500 52,000 134,500 Augustana College, Sioux Falls, S.D.: To improve the teaching of the humanities in high schools in the region ...... 180,000 180,000 Austin College, Sherman, Tex.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 75,000 48

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Bard College, Annandale-on-Hudson, N.Y.: Matching endowment for a Presidential Discretionary Fund ...... $ 75,000 $ - $ - $ 75,000 Barnard College, New York, N.Y.: Matching endowment for a Presidential Discretionary Fund ...... 125,000 125,000 Bates College, Lewiston, Me.: Matching endowment for a Presidential Discretionary Fund ...... 25,000 25,000 To develop fresh combinations in teaching and learning in the arts and sciences ...... - 225,000 225,000 Benedict College, Columbia, S.C.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 250,000 100,000 150,000 Bennett College, Greensboro, N. C.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 250,000 - 250,000 Berea College, Berea, Ky.: To expand scholarship pertaining to the region - 100,000 100,000 Bethune-Cookman College, Daytona Beach, Fla.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 350,000 - 350,000 49 Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Birmingham-Southern College, Birmingham, Ala.: Matching endowment for a Presidential Discretionary Fund ...... $ 87,500 $ _ - $ 87,500 Bowdoin College, Brunswick, Me.: Matching endowment for a Presidential Discretionary Fund ...... 100,000 - - 100,000 To develop fresh combinations in teaching and learning in the arts and sciences ...... - 225,000 225,000 Bucknell University, Lewisburg, Pa.: Matching endowment for a Presidential Discretionary Fund ...... 50,000 50,000 To develop fresh combinations in teaching and learning in the arts and sciences ...... - 250,000 250,000 Catholic University of America, Washington, D.C.: Matching endowment for fellowships in its Early

Christian Studies program ... 350,000 - 200,000 150,000 In support of the Washington Collegium for Humanistic Study and Research ...... 20,000 20,000 Centre College of Kentucky, Danville, Ky.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 75,000 Claremont McKenna College, Claremont, Cal.: Matching endowment for a Presidential Discretionary Fund ...... 50,000 50,000 50

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Clark College, Atlanta, Ga.: Matching endowment for a Fund for Faculty and Curriculum Renewal in

the arts and sciences ...... $ 350,000 $ - ..4 - $ 350,000 Coe College, Cedar Rapids, Iowa: Matching endowment for a Presidential Discretionary Fund ...... 50,000 50,000 Colby College, Waterville, Me.: To develop fresh combinations in teaching and learning in the arts and sciences ...... - 225,000 225,000 Colgate University, Hamilton, N.Y.: Matching endowment for a Presidential Discretionary Fund ...... 25,000 25,000 College Entrance Examination Board, New York, N.Y.: For a National Hispanic

Scholar Awards Program .... 1,480,000 2,936,000 680,000 3,736,000 College of the Holy Cross, Worcester, Mass.: Matching endowment for a Presidential Discretionary Fund ...... 100,000 50,000 50,000 College of William and Mary, Williamsburg, Va.: For the Institute of Early American History and Culture ...... 100,000 67,000 33,000 51 Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Colorado College, Colorado Springs, Colo.: Matching endowment for a Presidential Discretionary Fund ...... $ 37,500 $ - $ 37,500 $ Columbia University, New York, N.Y.: Matching grant for its programs in Russian/ Soviet Studies ...... 500,000 - 500,000 For use by its Translation Center ...... - 35,000 35,000 - For completion of the JohnJay Papers project ...... - 35,000 35,000 - Matching endowment for advanced research and training on East Asia ...... - 750,000 250,000 500,000

Commission on College Retirement, New York, N.Y.: For a study of alternative provisions for college and university retirement ...... 250,000 - 250,000 Community College Humanities Association, Cranford, N.J.: For expansion of its membership and programs for faculty members ...... 100,000 25,000 75,000 Connecticut College, New London, Conn.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 25,000 50,000 Cornell College, Mount Vernon, Iowa: Matching endowment for a Presidential Discretionary Fund ...... 75,000 75,000 52 Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Cornell University, Ithaca, N.Y.: Matching grant to provide additional faculty positions for humanists at intermediate career levels ...... $ 600,000 $ - $ 600,000 $ Matching grant to provide postdoctoral fellowships for younger scholars in its Society for the Humanities ...... 48,000 - 48,000 For use by four universities in support of summer research for undergraduate minority students ...... 196,000 196,000 Council for Basic Education, Washington, D.C.: To improve the teaching of the humanities in Los Angeles high schools in conjunction with the University of California, Los Angeles ...... 25,000 25,000 Council of American Overseas Research Centers, Washington, D.C.:

Toward administrative costs .... - 35,000 35,000 - Council of Chief State School Officers, Washington, D.C.: To encourage collaboration between schools and colleges or universities ...... 100,000 650,000 100,000 650,000

Council on Library Resources, Inc., Washington, D.C.: Toward costs of developing a national computerized bibliographic system ...... 300,000 - 300,000 - For general support, and for its

program of external grants ... 500,000 - 250,000 250,000 For its research program ...... 1,000,000 200,000 800,000 Toward costs of a documentary film on book and paper preservation ...... 150,000 150,000 53 Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Cumberland College, Williamsburg, Ky.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... $ 150,000 $ - $ 100,000 $ 50,000 Dartmouth College, Hanover, N.H.: For use by the University Press of New England in developing an on-line file of book-review editors ...... 28,000 28,000 Davis & Elkins College, Elkins, W. Va.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 250,000 50,000 200,000 DePauw University, Greencastle, Ind.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 75,000 Dickinson College, Carlisle, Pa.: Matching endowment for a Presidential Discretionary Fund ...... 37,500 37,500 Dillard University, New Orleans, La.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 250,000 250,000 Duke University, Durham, N.C.: Matching endowment for its Canadian Studies Center .... 500,000 172,915 327,085 54

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Emory & Henry College, Emory, Va.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... $ 350,000 $ I - $ 350,000 Founding Fathers Papers, Inc., Princeton, N.J.: Toward costs of editing the papers of the Adams family, Benjamin Franklin, Thomas Jefferson, James Madison, and George Washington ..... 1,000,000 - 500,000 500,000 Furman University, Greenville, S.C.: Matching endowment for a Presidential Discretionary Fund ...... 87,500 87,500 Graduate School and University Center of the City University of New York, New York, N.Y.: For the Community Colleges Project ...... - 375,000 375,000 Gustavus Adolphus College, St. Peter, Minn.: Matching endowment for a Presidential Discretionary Fund ...... 25,000 25,000 Hampden-Sydney College, Hampden-Sydney, Va.: For a cooperative faculty and curriculum development program in six Virginia colleges ...... - 225,000 225,000 Hampshire College, Amherst, Mass.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 25,000 50,000 55

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Hampton Institute, Hampton, Va.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... $ 350,000 $ _ - $ 350,000 Harvard University, Cambridge, Mass.: Matching grant for programs in Russian/Soviet and East European Studies ...... 311,000 - 145,000 166,000 Matching endowment for advanced research and training on East Asia ...... - 750,000 250,000 500,000 Historical Society of Pennsylvania, Philadelphia, Pa.: Matching endowment for its

conservation department .... 100,000 100,000 Hobart and William Smith Colleges, Geneva, N.Y.: Matching endowment for a Presidential Discretionary Fund ...... 87,500 87,500 Johns Hopkins University, Baltimore, Md.: Matching endowment for the SAIS Center of Canadian Studies ...... 350,000 100,000 250,000 For the SAIS Central American and Caribbean Program ...... - 225,000 225,000 Johnson C. Smith University, Charlotte, N.C.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 350,000 - 200,000 150,000 56 Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Kalamazoo College, Kalamazoo, Mich.: To develop fresh combinations in teaching and learning in the arts and sciences ...... - $ 200,000 $ 200,000 $ Kenyon College, Gambier, Ohio: Matching endowment for a Presidential Discretionary Fund ...... 50,000 50,000 To develop fresh combinations in teaching and learning in the arts and sciences ...... 225,000 225,000 Lafayette College, Easton, Pa.: To develop fresh combinations in teaching and learning in the arts and sciences ...... - 250,000 250,000 Lake Forest College, Lake Forest, Ill.: Matching endowment for a Presidential Discretionary Fund ...... 25,000 25,000 Lewis and Clark College, Portland, Oreg.: Matching endowment for a Presidential Discretionary Fund ...... 87,500 87,500 Library Company of Philadelphia, Philadelphia, Pa.: Matching endowment for its conservation department .... 75,000 50,000 25,000 Literary Classics of the United States, Inc., New York, N.Y.: For a program to place volumes ofThe Library of America series in public libraries ...... 500,000 - 500,000 57 Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Louisiana State University, Baton Rouge, La.: Toward costs of the Eighteenth Century Short Title Catalogue ...... $ - $ 235,000 $ 235,000 $ Marquette University, Milwaukee, Wis.: Matching endowment to strengthen teaching and curricula, primarily in the humanities ...... - 350,000 350,000 Mars Hill College, Mars Hill, N.C.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 350,000 - 100,000 250,000 Maryville College, Maryville, Tenn.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 350,000 350,000 Massachusetts Institute of Technology, Cambridge, Mass.: To develop an archival documentation strategy for college and university records ...... - 140,000 140,000 Mills College, Oakland, Cal.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 - - 75,000 Morris Brown College, Atlanta, Ga.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 350,000 - 300,000 50,000 58

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Mount Holyoke College, South Hadley, Mass.: Matching endowment for a Presidential Discretionary Fund ...... $ 50,000 $ - $ 50,000 $ Muhlenberg College, Allentown, Pa.: Matching endowment for a Presidential Discretionary Fund ...... 87,500 87,500 National Academy of Sciences, Washington, D.C.: In support of an American Academic Office in Beijing ...... - 225,000 75,000 150,000 National Archives Trust Fund Board, Washington, D.C.: For use by the National Historical Publications & Records Commission in support of its editing

institutes ...... - 25,000 25,000 - National Endowment for the Humanities, Washington, D.C.: In support of summer seminars for secondary- school teachers ...... 500,000 - 500,000 National Humanities Center, Research Triangle Park, N. C.: Matching endowment, and in support of a senior fellows program ...... 800,000 480,000 780,000 500,000 New York Academy of Medicine, New York, N.Y.: Matching endowment for the conservation department of its library ...... - 200,000 100,000 100,000 59

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 New-York Historical Society, New York, N.Y.: Matching grant to catalogue

materials in its library ...... $ 50,000 $ - $4 - $ 50,000 New York Public Library, New York, N.Y.: Matching endowment for preservation activities and for technological planning and implementation in the Research Libraries ...... 626,000 - 626,000 Newberry Library, Chicago, Ill.: Matching endowment for its Center for the History of the American Indian ...... 172,500 123,911 48,589 Northwestern University, Evanston, Ill.: Matching grant to provide additional faculty positions for humanists at intermediate career levels ...... 300,000 - 300,000 Nuffield College, Oxford, England: To support scholarly activities in conjunction with the Andrew W. Mellon Professorship of American Government ...... - 250,000 250,000 Oberlin College, Oberlin, Ohio: Matching endowment for a Presidential Discretionary Fund ...... - 125,000 75,000 50,000 Occidental College, Los Angeles, Cal.: To develop fresh combinations in teaching and learning in the arts and sciences ...... 250,000 250,000 60

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Ohio Wesleyan University, Delaware, Ohio: Matching endowment for a Presidential Discretionary Fund ...... $ 100,000 $ - $ 100,000 $ Pace University, New York, N.Y.: To strengthen the faculty and the undergraduate liberalarts curriculum ...... 150,000 - 150,000 Paine College, Augusta, Ga.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 250,000 250,000 PREP, Inc., New York, N.Y.: In support of its pre-college Summer Program for minority students ...... 100,000* 425,000 100,000 425,000 Princeton University, Princeton, N.J.: To produce visual and textual aids for college and high- school teaching about China and Japan ...... - 26,000 26,000 - Matching endowment for advanced research and training on East Asia ...... - 600,000 200,000 400,000 Reed College, Portland, Oreg.: To develop fresh combinations in teaching and learning in the arts and sciences ...... - 200,000 200,000 - Rensselaer Polytechnic Institute, Troy, N.Y.: Matching grant to restructure its undergraduate core curriculum ...... - 300,000 100,000 200,000

*Unpaid balance of 1983 appropriation to Barnard College 61 Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Research Libraries Group, Inc., Stanford, Cal.: To develop its Scholarly Information Program ...... $ - $ 35,000 $ 35,000 $ Rhodes College, Memphis, Tenn.: Matching endowment for a Presidential Discretionary Fund ...... 87,500 87,500 St. Augustine's College, Raleigh, N.C.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 150,000 - 150,000 St. John's College, Annapolis, Md.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 75,000 SaintJohn's University, Collegeville, Minn.: For a program of postdoctoral fellowships in the Hill Monas- tic Manuscript Library ...... 75,000 75,000 Sarah Lawrence College, Bronxville, N.Y.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 25,000 50,000 Scripps College, Claremont, Cal.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 25,000 50,000 Smith College, Northampton, Mass.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 75,000 62

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Social Science Research Council, New York, N.Y.: In support of the Committee on Soviet Studies ...... $ 250,000 $ - $ 250,000 Society of American Archivists, Chicago, Ill.: To foster educational opportunities for practicing archivists ...... - 100,000 100,000 Spelman College, Atlanta, Ga.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 350,000 50,000 300,000 Stanford University, Stanford, Cal.: Matching endowment for advanced research and training on Latin America ...... 250,000 - 250,000 For a senior professorship at the Intercollegiate Center for Classical Studies in Rome ...... - 215,000 215,000 To provide opportunities for the professional growth of faculty members from neighboring colleges and universities ...... - 105,000 105,000 Stillman College, Tuscaloosa, Ala.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 150,000 150,000 Teachers College, Columbia University, New York, N.Y.: To support a program for high-school science teachers in the New York area ...... 30,000 30,000 63 Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Tougaloo College, Tougaloo, Miss.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... $ 350,000 $ - $ 350,000 Tufts University, Medford, Mass.: Matching grant to strengthen teaching and curricula in the arts and sciences ...... 350,000 - 350,000 For use by the Fletcher School of Law and Diplo- macy in support of a program on Southwest Asia and Islamic Civilization ...... 165,000 165,000

Tulane University, New Orleans, La.: Matching endowment for advanced research and training on Latin America ...... 300,000 100,000 200,000 Tuskegee Institute, Tuskegee Institute, Ala.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 350,000 - 200,000 150,000 Union College, Schenectady, N.Y.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 50,000 25,000 United Chapters of Phi Beta Kappa, Washington, D.C.: Toward costs of preparing a new history of the Society ...... 65,000 65,000 64

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 United Negro College Fund, Inc., New York, N.Y.: To support the Premedical Summer Institute at Fisk University...... 100,000 $ 400,000 $ 100,000 $ 400,000 To strengthen the teaching of the humanities at its member colleges ...... - 750,000 750,000 - To develop a deferred-giving and bequest program ...... - 100,000 100,000 - University of California, Berkeley, Berkeley, Cal.: Matching endowment for advanced research and training on Latin America ...... 250,000 - 250,000 Matching endowment for advanced research and training on East Asia ...... - 750,000 250,000 500,000 University of California, Los Angeles, Los Angeles, Cal.: Matching endowment for advanced research and training on Latin America ...... - 200,000 200,000 University of California, San Diego, LaJolla, Cal.: In support of fellowships and publications at its Center for U.S. -Mexican Studies ...... - 265,000 265,000 University of Cambridge, Cambridge, England: To encode the correspondence of Charles Darwin ...... 25,000 25,000 65 Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 University of Chicago, Chicago, Ill.: Matching endowment for advanced research and training

on Latin America ...... 150,000 $ - .4 - $ 150,000 To provide opportunities for the professional growth of faculty members from neighboring colleges and universities ...... 140,000 140,000 - For editorial costs of the DictionaryofMythologies ... 30,000 30,000 - Matching endowment for advanced research and training on South Asia ...... 500,000 167,000 333,000 University of Florida, Gainesville, Fla.: Matching endowment for advanced research and training on Latin America ...... - 250,000 75,000 175,000 University of Maryland at College Park, College Park, Md.: Toward costs of humanities summer institutes for fine-arts teachers in Maryland high schools ...... - 150,000 50,000 100,000 University of Michigan, Ann Arbor, Mich.: For use by the Bentley Historical Library in a research program on archival issues ...... - 120,000 120,000 For a collaborative program with colleges in the Midwest to improve undergraduate instruction in several non-western cultures and languages ...... - 350,000 350,000 Matching endowment for advanced research and training on East Asia ...... - 750,000 250,000 500,000 66 Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 University of Notre Dame, Notre Dame, Ind.: Matching endowment for faculty development in the College of Arts and Letters ...... $ 250,000 $ - $3 - $ 250,000 University of Pennsylvania, Philadelphia, Pa.: Matching support for the Philadelphia Center for Early American Studies ...... 350,000 350,000 Matching endowment for advanced research and training on South Asia ...... 400,000 133,000 267,000 University of Pittsburgh, Pittsburgh, Pa.: Matching endowment for advanced research and training on Latin America ...... 150,000 150,000 University of Tennessee, Knoxville, Knoxville, Tenn.: In support of theJames R. Stokely Institute for Liberal Arts Education ...... 250,000 250,000 University ofTexas at Austin, Austin, Tex.: Matching endowment for advanced research and training on Latin America ...... - 250,000 75,000 175,000 University ofthe South, Sewanee, Tenn.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 75,000 University ofToronto, Toronto, Ontario, Canada: In support of its Centre for Russian and East European Studies ...... - 350,000 350,000 67

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 University of Virginia, Charlottesville, Va.: Matching grant for a junior scholars program in its Center for Advanced Studies ...... $ 125,000 $ _ $p - $ 125,000 University of Wisconsin-Madison, Madison, Wis.: Matching endowment for advanced research and training on Southeast Asia ...... - 500,000 167,000 333,000 Vassar College, Poughkeepsie, N.Y.: Matching endowment for a Presidential Discretionary Fund ...... 125,000 25,000 100,000 Virginia Union University, Richmond, Va.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 350,000 - 350,000 Wake Forest University, Winston-Salem, N.C.: To develop fresh combinations in teaching and learning in the arts and sciences ...... - 300,000 300,000 Warren Wilson College, Swannanoa, N.C.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 300,000 - 100,000 200,000 Washington and Jefferson College, Washington, Pa.: Matching endowment for a Presidential Discretionary Fund ...... 50,000 25,000 25,000 68

Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Washington and Lee University, Lexington, Va.: Matching endowment for a Presidential Discretionary Fund ...... 100,000 $ - $ 50,000 $ 50,000 To develop fresh combinations in teaching and learning in the arts and sciences ...... - 250,000 250,000 Wellesley College, Wellesley, Mass.: Matching endowment for a Presidential Discretionary Fund ...... 125,000 25,000 100,000 Toward costs of the Tele-Video Project in French Language and Culture ...... - 250,000 250,000 Wells College, Aurora, N.Y.: Matching endowment for a Presidential Discretionary Fund ...... 75,000 25,000 50,000 West Virginia Wesleyan College, Buckhannon, W. Va.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 250,000 50,000 200,000 Wheaton College, Norton, Mass.: Matching endowment for a Presidential Discretionary Fund ...... 62,500 25,000 37,500 To develop fresh combinations in teaching and learning in the arts and sciences ...... - 200,000 200,000 Whitman College, Walla Walla, Wash.: Matching endowment for a Presidential Discretionary Fund ...... 87,500 25,000 62,500 69 Unpaid Unpaid HIGHER EDUCATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Wofford College, Spartanburg, S.C.: Matching endowment for a Presidential Discretionary Fund ...... - $ 75,000 $ - $ 75,000 Woodrow Wilson International Center for Scholars, Washington, D.C.: In support of its West European Program ...... - 30,000 30,000 In support of its Latin American Program ...... - 250,000 250,000 Woodrow Wilson National Fellowship Foundation, Princeton, N.J.: For a program of graduate fellowships in the humanities ...... 2,500,000 195,000 2,695,000 Xavier University of Louisiana, New Orleans, La.: Matching endowment for a Fund for Faculty and Curriculum Renewal in the arts and sciences ...... 350,000 - 350,000 Yale University, New Haven, Conn.: Matching endowment for educational programs in the Residential Colleges ...... 500,000 - 200,000 300,000 To establish the Paul Mellon Professorship ...... - 1,500,000 1,500,000 - For research and support costs associated with the Mellon Professorship ...... - 250,000 250,000 -

Total-Higher Education $26,016,500 $27,087,000 $27,022,826 $26,080,674 70

Unpaid Unpaid MEDICINE, PUBLIC HEALTH, Jan. 1, Appro- Dec. 31, AND POPULATION 1985 priated Paid 1985 Baylor College of Medicine, Houston, Tex.: For research in reproductive

biology ...... - $ 360,000 $ 360,000 $ For support of young research faculty members and postdoctoral scientists at its Center for Population Research and Reproductive Biology ...... - 600,000 600,000 Case Western Reserve University, Cleveland, Ohio: For use by its School of Medicine in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 225,000 225,000 Center for Population Options, Washington, D.C.: For research and other activities concerned with the prevention of adolescent pregnancy ...... - 175,000 175,000 Clinical Research Institute of Montreal, Montreal, Canada: For research in reproductive biology ...... - 185,000 185,000 Columbia University, New York, N.Y.: For use by its College of Physicians and Surgeons in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 500,000 500,000 Toward costs of research and training in its Inter- national Institute for the Study of Human Reproduction ...... - 700,000 700,000 71

MEDICINE, PUBLIC HEALTH, Unpaid Unpaid AND POPULATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Cornell University, Ithaca, N.Y.: For use by its Medical School in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... $ - $ 325,000 $ 325,000 $ Duke University, Durham, N.C.: For use by its Medical School in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 400,000 400,000 For use by its School of Medicine in support of research in reproductive biology ...... - 240,000 240,000 Emory University, Atlanta, Ga.: For use by its School of Medicine toward initial costs of developing a Chinese edition of Contraceptive Technology ...... 10,350 10,350 Fund for the Advancement of Basic Biomedical Research, Inc., Shrewsbury, Mass.: To support the activities of the Delegation for Basic Biomedical Research ...... 25,000 25,000 Global Committee of Parlia- mentarians on Population and Development, New York, N.Y.: To support its information program ...... - 250,000 250,000 Toward costs of recording the ceremonies attending the signing by various nations' leaders of the World Population Stabili- zation Statement ...... 15,000 15,000 72

MEDICINE, PUBLIC HEALTH, Unpaid Unpaid AND POPULATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Alan Guttmacher Institute, New York, N.Y.: Toward publication and distribution costs of International Family Planning Perspectives ...... $ 480,000 $ - $ 480,000 $ Harvard University, Cambridge, Mass.: For use by its Medical School in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 500,000 500,000 For use by its Faculty of Medicine toward costs of a teaching and research program in clinical epidemiology ...... - 650,000 650,000 International Planned Parenthood Federation-Western Hemisphere Region, Inc., New York, N.Y.: Toward costs of services for national family-planning programs ...... 750,000 - 750,000 International Women's Health Coalition, New York, N.Y.: To provide training, technical assistance, and other forms of support to reproductive-health projects in developing nations ...... - 375,000 375,000 Johns Hopkins University, Baltimore, Md.: For use by its School of Medicine in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 500,000 500,000 73

MEDICINE, PUBLIC HEALTH, Unpaid Unpaid AND POPULATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Johns Hopkins University, Baltimore, Md.: (continued) For use by its School of Medicine in a teaching and research program in clinical epidemiology ...... $ - $ 650,000 $ 650,000 $ For use by its School of Hygiene and Public Health toward appointments of additional junior faculty members in its Department of Biostatistics ...... - 500,000 500,000 Meharry Medical College, Nashville, Tenn.: To establish a clinical and epidemiological research unit in the Department of Internal Medicine ...... 450,000 450,000 New York University, New York, N.Y.: For use by its School of Medicine in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 325,000 325,000 Population Council, New York, N.Y.: For general support; postdoctoral fellowships in reproductive biology and in the social sciences; international program development; research on male reproductive physiology; an external grant program; policy-oriented social-science research, analysis, and technical assistance; and program expansion in sub-Saharan Africa ...... - 3,000,000 3,000,000 74

MEDICINE, PUBLIC HEALTH, Unpaid Unpaid AND POPULATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Population Council, New York, N.Y.: (continued) In support of the contraceptive-development activities of its International Com- mittee for Contraception

Research ...... $ - $ 700,000 $ 700,000 $ Population Reference Bureau, Inc., Washington, D.C.: To strengthen its capacities for research and analysis in demography and population policy ...... - 375,000 375,000 Princeton University, Princeton, N.J.: For use by its Office of Pop- ulation Research toward costs of a visiting faculty program, studies on population distribution and migration, and junior-professional research salaries, and for general support ...... - 385,000 385,000 Stanford University, Stanford, Cal.: For use by its School of Medicine in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 400,000 400,000 University of Chicago, Chicago, Ill.: For a program in clinical medical ethics at the Pritzker School of Medicine ...... 500,000 - 500,000 For use by the Pritzker School of Medicine in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 400,000 400,000 75

MEDICINE, PUBLIC HEALTH, Unpaid Unpaid AND POPULATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 University of Michigan, Ann Arbor, Mich.: For use by its Population Studies Center and its Reproductive Endocrinology Program in a collaborative postdoctoral research and training program ...... v.$ - $ 600,000 $ 600,000 $ University of Pennsylvania, Philadelphia, Pa.: For use by its School of Medicine in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 350,000 350,000 University of Rochester, Rochester, N.Y.: For use by its School of Medicine in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 225,000 225,000 University of Vermont, Burlington, Vt.: For use by its College of Medicine in support of research in reproductive biology ...... - 297,000 297,000 Vanderbilt University, Nashville, Tenn.: For use by its School of Medicine in support of research in reproductive biology ...... - 275,000 275,000 For use by its School of Medicine in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 225,000 225,000 76

MEDICINE, PUBLIC HEALTH, Unpaid Unpaid AND POPULATION Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 Washington University, St. Louis, Mo.: For use by its School of Medicine in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - $ 350,000 $ 350,000 $ Worcester Foundation for Experimental Biology, Shrewsbury, Mass.: For support of young research faculty members and postdoctoral scientists in reproductive biology ...... - 600,000 600,000 Yale University, New Haven, Conn.: For use by its School of Medicine in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 400,000 400,000 For support of young research faculty members and postdoctoral scientists in reproductive biology at its School of Medicine ...... - 650,000 650,000 Yeshiva University, New York, N.Y.: For use by its Albert Einstein College of Medicine in providing teaching and research opportunities for young faculty members in the biomedical sciences ...... - 225,000 225,000 - Total-Medicine, Public Health, and Population $ 2,180,000 $16,967,350 $18,697,350 $ 450,000 77 Unpaid Unpaid Jan. 1, Appro- Dec. 31, PUBLIC AFFAIRS 1985 priated Paid 1985 American Association for the Advancement of Science, Washington, D.C.: To provide unsold copies of Science 86 to schools ...... - $ 25,000 $ 25,000 $ Brookings Institution, Washington, D.C.: To study existing systems of undergraduate student financial aid and to analyze the likely effects of alternative programs ...... 260,000 260,000 - To support a study of whether an "underclass" is emerging in the United States outside the nation's mainstream economy ...... 340,000 100,000 240,000 Children's Television Workshop, New York, N.Y.: For a public-television series for schoolchildren about mathematics ...... - 1,500,000 500,000 1,000,000

Council on Foreign Relations, Inc., New York, N.Y.: For its International Affairs Fellowship Program ...... 250,000 250,000 Georgetown University, Washington, D.C.: For use by the Center for Strategic and Interna- tional Studies toward costs of analysis and development of the Nuclear Risk Reduction Centers ...... 30,000 30,000 Independent Sector, Washington, D. C.: To assemble and analyze statistical data on the voluntary sector and to encourage research on the role of voluntary activity and private philanthropy in the United States ...... 100,000 100,000 78 Unpaid Unpaid PUBLIC AFFAIRS Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 International Institute for Strategic Studies, London, England: In support of its research

programs ...... a - $ 450,000 $ 450,000 $ National Bureau of Economic Research, Inc., Cambridge, Mass.: For a series of studies of the causes of the overvalued dollar and its effects on the American economy, and for a study of the extent to which undervaluation of the yen has been a critical factor in theJapan-U.S. competition ...... - 350,000 350,000 Partners for Livable Places, Washington, D.C.: For general support, and to establish a working capital reserve ...... - 350,000 350,000 Regional Plan Association, New York, N.Y.: Toward costs of a regional open-space program ...... - 100,000 100,000 Scientists' Institute for Public Information, New York, N.Y.: For its Media Resource Service ...... - 250,000- 250,000 Trilateral Commission, New York, N.Y.: For general support ...... 165,000 165,000 79

Unpaid Unpaid PUBLIC AFFAIRS Jan. 1, Appro- Dec. 31, (continued) 1985 priated Paid 1985 WGBH Educational Foundation, Boston, Mass.: Toward production costs of a public-television series entitled The NuclearAge ...... $ - $ 350,000 $ 350,000 $ -

Total-Public Affairs $ - $ 4,520,000 $ 3,280,000 $ 1,240,000

GrandTotals $35,670,473 $64,770,350 $63,468,663 $36,972,160

Financial Statements

83 REPORT OF INDEPENDENT ACCOUNTANTS

To the Board ofTrustees of The Andrew W. Mellon Foundation In our opinion, the accompanying balance sheet (including the statement ofinvest- ment securities) and the related statement of income, expenses and changes in principal balance present fairly the financial position of The Andrew W. Mellon Foundation at December 31, 1985 and 1984, its income, expenses and changes in principal balance for the years then ended in conformity with generally accepted accounting principles consistently applied. Our examinations of these statements were made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing proce- dures as we considered necessary in the circumstances.

PRICE WATERHOUSE New York, New York March 17, 1986 84 The Andrew W. Mellon Foundation

Balance Sheet

ASSETS December31, 1985 1984 Investments: Bonds and notes ...... $438,179,790 $370,426,143 Stocks ...... 453,420,627 448,103,874 Total investment securities (approximate market value of $1,183,442,000 and $980,243,000 at December 31, 1985 and 1984, respectively) ...... 891,600,417 818,530,017 Interest in coal properties (Note 1) ...... 1,246,336 1,288,434 Interest in limited partnerships (Note 1) ...... 26,340,720 18,925,950 Total investments ...... 919,187,473 838,744,401 Cash ...... 277,262 302,395 Dividend and interest income receivable ...... 11,326,602 12,662,014 Coal property income receivable ...... 4,103,465 2,421,972 Receivable from unsettled securities sales ...... 1,189,634 208,157 Office building, at cost less accumulated depreciation of $187,000 and $176,000 at December 31, 1985 and 1984, respectively ...... 563,000 574,000 Total assets ...... $936,647,436 $854,912,939

LIABILITIES AND PRINCIPAL BALANCE

Grants payable ...... $ 36,972,160 $ 35,670,473 Federal excise tax payable (Note 2) ...... 2,943,092 2,372,131 Payable from unsettled securities purchases ...... 1,160,363 938,097 Accrued expenses payable ...... 778,771 640,489 Total liabilities ...... 41,854,386 39,621,190 Principal balance ...... 894,793,050 815,291,749 Total liabilities and principal balance ...... $936,647,436 $854,912,939 85 The Andrew W. Mellon Foundation

Statement of Income, Expenses and Changes in Principal Balance For the year ended December31, 1985 1984 Income: Interest on bonds and notes ...... $ 42,052,805 $ 37,612,766 Dividends ...... 26,300,429 27,469,748 Income from coal properties ...... 15,463,004 11,253,650 Income from limited partnerships ...... 938,773 307,242 84,755,011 76,643,406 Less investment advisory and custody fees ...... 2,017,128 1,601,144 82,737,883 75,042,262

Expenses: Federal excise tax ...... 2,943,092 2,372,131 Salaries and provision for employees' pensions ...... 1,169,658 1,097,272 Other administrative and office expenses including maintenance and depreciation of office building ...... 683,739 679,618 4,796,489 4,149,021 Income available for grants ...... 77,941,394 70,893,241 Program grants ...... 64,770,350 62,275,953 Excess of income over expenses and grants ...... 13,171,044 8,617,288 Gains realized on sales of investments ...... 66,330,257 51,397,057 Excess for the year ...... 79,501,301 60,014,345 Principal balance at beginning of year ...... 815,291,749 755,277,404 Principal balance at end of year ...... $894,793,050 $815,291,749 86 The Andrew W. Mellon Foundation

NOTES TO FINANCIAL STATEMENTS

NOTE 1-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: The financial statements ofThe Andrew W. Mellon Foundation have been prepared on an accrual basis. The significant accounting policies followed are described below.

Investments: Investments in securities are carried at cost or fair market value at dates of acquisition. Coal properties, which were appraised in 1982 by an independent engineering firm at $154 million, are carried at fair market value at date ofacquisition, less accumulated depletion. In- vestments in limited partnerships, which are carried at cost, were made under agreements to participate in limited marketability investments. Due to their nature, the market value of these investments is not readily determinable.

Grants: Grants are recorded in full when approved by the Trustees.

Officefurnishings: Cost of office furnishings and equipment is consistently charged to expense when in- curred because the Foundation does not deem such amounts to be sufficiently material to warrant capitalization and depreciation.

NOTE 2-FEDERAL EXCISE TAXES: Under federal tax law, the Foundation is subject to a 2% excise tax on net investment income, including realized gains, as defined in the law. Accordingly, federal excise taxes have been accrued in the amounts of $2,943,092 and $2,372,131 as of December 31, 1985 and 1984, respectively. 87 The Andrew W. Mellon Foundation

Investment Securities

December31, 1985 Principal Approximate Bonds andNotes: Amount Book Value Market Value

U.S. Treasury bills due: January 16, 1986 ...... $ 1,365,000 $ 1,335,247 $ 1,335,000 May 22, 1986 ...... 4,000,000 3,863,920 3,864,000 June 12, 1986 ...... 1,905,000 1,834,974 1,835,000 7,034,141 7,034,000

Other U.S. Government obligations: U.S. Treasury Bonds and Notes 113/4%, April 30, 1986 ...... 2,115,000 2,096,708 2,143,000 103/8%, November 30, 1986 ...... 11,175,000 11,423,855 11,426,000 87/8%,July3l, 1987 ...... 13,370,000 13,489,037 13,553,000 123/8%, August 15, 1987 ...... 10,000,000 10,428,125 10,653,000 11 1/8%, September 30, 1987 ...... 1,400,000 1,337,000 1,470,000 83/4%, November 15, 1988 ...... 450,000 451,406 455,000 115/8%, January 15, 1992 ...... 6,700,000 6,995,219 7,548,000 117/8%, August 15, 1993 ...... 56,150,000 58,275,720 64,923,000 113/4%, November 15, 1993 ...... 76,000,000 78,288,525 87,543,000 115/8, November 15, 1994 ...... 2,500,000 2,477,714 2,883,000 11 1/4%, February 15, 1995 ...... 5,000,000 4,986,700 5,658,000 111/4%, May 15, 1995 ...... 13,400,000 14,999,625 15,171,000 115/8%, November 15, 2002 ...... 19,250,000 20,792,188 22,529,000 103/4%, August 15, 2005 ...... 14,500,000 15,274,844 16,095,000 103/8%, November 15, 2012 ...... 2,500,000 2,642,188 2,696,000 Federal Home Loan Mortgage Corp. 10%, May 1, 2009 ...... 7,731,291 7,316,291 7,712,000 Federal National Mortgage Association 71/4%, January 1, 2008 ...... 4,546,261 3,603,396 3,924,000 Government National Mortgage Association 81/4%, June 15, 2008 ...... 7,917,764 6,819,884 7,284,000 261,698,425 283,666,000 Total U.S. Government obligations ...... 268,732,566 290,700,000 88

December31, 1985 Principal Approximate BONDS AND NOTES (continued) Amount Book Value Market Value Commercial paper: Bankers Trust Co. 7.84%, January 13, 1986 ...... 5,000,000 4,872,600 4,873,000 7.70%, February 28, 1986 ...... 5,000,000 4,905,889 4,906,000 C.I.T. Financial Corp. -. 7.80%, January 31, 1986...... 5,000,000 4,904,667 4,905,000 7.85%, January 31, 1986...... 5,000,000 4,907,326 4,907,000 7.85%, March 14, 1986 ...... 9,000,000 8,805,712 8,806,000 Copley Financing Corp. 7.90%, February 21, 1986 ...... 1,550,000 1,531,973 1,532,000 Ford Motor Credit Corp. 7.70%, January 3, 1986 ...... 1,083,000 1,083,000 1,083,000 7.80%, January 3, 1986 ...... 2,900,000 2,872,982 2,873,000 7.80%, January 10, 1986 ...... 4,800,000 4,800,000 4,800,000 7.80%, January 13, 1986 ...... 392,000 392,000 392,000 7.75%, January 17, 1986 ...... 54,000 54,000 54,000 7.85%, January 28, 1986...... 295,000 295,000 295,000 8.875%, March 12, 1986 ...... 5,000,000 5,011,506 5,011,000 7.70%, March 21, 1986 ...... 5,000,000 4,905,889 4,906,000 General Electric Credit Corp. 7.875%, January 9, 1986...... 7,605,000 7,605,000 7,605,000 General Motors Acceptance Corp. 7.85%, January 3, 1986 ...... 3,268,000 3,268,000 3,268,000 7.85%, January 6, 1986 ...... 1,760,000 1,750,022 1,750,000 7.90%,January8, 1986 ...... 1,000,000 1,000,000 1,000,000 7.75%, January 13, 1986 ...... 99,000 99,000 99,000 7.65%, January 28, 1986...... 42,000 42,000 42,000 7.80%, February 10, 1986 ...... 8,800,000 8,702,478 8,702,000 7.75%, February 10, 1986 ...... 4,550,000 4,497,106 4,497,000 10.95%, February 14, 1986 ...... 5,000,000 5,047,200 5,047,000 Heller International Corp. 7.95%, February 10, 1986 ...... 5,000,000 4,945,896 4,946,000 Household Finance Corp. 8.875%, January 13, 1986 ...... 1,530,000 1,530,000 1,530,000 Manufacturers Hanover Trust Co. 7.69%, February 10, 1986 ...... 5,000,000 4,824,839 4,825,000 Mellon Bank Canada 8.03%, January 9, 1986 ...... 5,000,000 4,960,965 4,961,000 Morgan (J. P.) & Co. 8.05%, January 3, 1986 ...... 4,142,000 4,142,000 4,142,000 7.88%, January 30, 1986...... 5,000,000 4,897,122 4,897,000 7.90%, January 31, 1986...... 1,600,000 1,587,711 1,588,000 T. Rowe Price Prime Reserve Fund demand notes ...... 128,905 128,905 129,000 Undivided interest in demand notes at Morgan Guaranty Trust Co...... 1,482,824 1,482,824 1,483,000 Total commercial paper ...... 109,853,612 109,854,000 89

December31, 1985 Principal Approximate BONDS AND NOTES (continued) Amount Book Value Market Value Corporate and other: Aluminum Co. of America 7%, November 15, 1996 ...... 4,750,000 3,437,750 3,755,000 American Bankers Insurance Group Inc. conv., 93/4%, December 1, 2004 ..... 500,000 500,000 570,000 Ampad Corp. conv., 8%, August 1, 2010 ...... 355,000 355,000 373,000 Associates Corp. of North America 121/2%, September 15, 1994 ...... 3,000,000 3,176,250 3,446,000 BB Investors Inc. 15%,July 1, 2004 ...... 260,900 260,900 261,000 Beneficial Corp. 143/8%, September 15, 1992 ...... 5,000,000 5,000,000 6,131,000 123/4%, August 15, 1994 ...... 3,500,000 3,727,500 4,067,000 CBS Inc. 107/8%, August 1, 1995 ...... 78,300 78,300 78,000 Caterpillar Tractor Co. conv., 5½12%,June 30, 2000 ...... 1,000,000 950,625 983,000 Chem Lawn Corp. conv., 10%, September 1, 2008 ...... 500,000 500,000 447,000 Computervision Corp. conv., 8%, December 1, 2009 ...... 1,000,000 1,000,000 640,000 Consolidated Oil & Gas Inc. conv., 9%,June 1, 1994 ...... 1,450,000 1,160,000 1,131,000 Coopervision Inc. conv., 85/x%, March 1, 2005 ...... 500,000 500,000 575,000 Deere & Co. conv., 9%, March 15, 2008 ...... 2,000,000 2,000,000 1,990,000 Farm Fresh Inc. conv., 71/2%, March 1, 2010 ...... 400,000 305,000 318,000 Flowers Industries Inc. conv., 8¼/4%, March 1, 2005 ...... 500,000 500,000 563,000 Ford Motor Co. 103/4%,July 1, 1995 ...... 2,750,000 2,743,125 2,900,000 Fujitsu, Ltd. 3%, March31, 1999 ...... 300,000 300,000 314,000 Healthcare USA, Inc. conv., 81/4%,June 30, 2003 ...... 700,000 525,000 497,000 Hechinger Co. conv., 8½/2%, September 15, 2009 ... 500,000 500,000 595,000 Household Finance Corp. 121/4%, October 15, 1994 ...... 2,500,000 2,493,750 2,838,000 Inexco Oil conv., 81/2%, September 1, 2000 .... 1,000,000 710,000 633,000 International Hydron Corp. conv., 10%, June 1, 2010 ...... 500,000 500,000 495,000 International Rectifier Corp. conv., 9%, June 15, 2010 ...... 750,000 600,000 634,000 90

December31, 1985 Principal Approximate BONDS AND NOTES (continued) Amount Book Value Market Value Johnstown American Companies conv., 93/4%, February 15, 1995 ..... 500,000 462,500 420,000 Kollmorgen Corp. conv., 83/4%, May 1, 2009 ...... 750,000 750,000 652,000 La Quinta Motor Inns, Inc. conv., 10%, June 15, 2002 ...... 450,000 513,000 418,000 Malrite Communications Group conv., 9%, October 1, 2010 ...... 500,000 500,000 500,000 Mapco Inc. conv., 10%, May 15, 2005 ...... 500,000 440,000 528,000 Monsanto Co. 113/8%, November 15, 2015 ...... 4,000,000 4,000,000 4,209,000 Moran Energy, Inc. conv., 83/4%, January 15, 2008 ...... 1,000,000 823,750 745,000 PSA Inc. conv., 11 I/8%, August 1, 2004 ...... 500,000 501,000 540,000 Petrie Stores Corp. conv., 71½2%, March 15, 2010 ...... 1,000,000 1,000,000 1,160,000 Philadelphia Savings Fund Society 12%, November 15, 1990-94 ...... 7,000,000 6,991,250 7,829,000 Price Co. conv., 8%, August 31, 2009 ...... 500,000 500,000 665,000 Sealed Power Corp. conv., 9%, April 1,2010...... 500,000 500,000 510,000 Southwest Forest Industries Inc. conv., 101/2%, December 15, 2003 500,000 500,000 477,000 Teledyne Inc. 10%, June 1, 2004 ...... 9,750,000 8,333,912 9,080,000 Texaco Capital N.V. conv., 117/8%, May 1, 1994...... 500,000 483,750 499,000 Towle Manufacturing Co. conv., 9½12%, November 1, 2000 .... 1,250,000 971,250 788,000 Trans Lux Corp. conv., 9%, December 1, 2005 ...... 500,000 500,000 545,000 Total corporate and other ...... 59,593,612 63,799,000 Total bonds and notes ...... 438,179,790 464,353,000 91

December31, 1985 Approximate Corporate Stock: Shares Book Value Market Value

Aachener & Muenchner Beleiligungs ...... 850 373,098 670,726 Aaron Rents Inc...... 28,000 515,175 483,000 Abbott Laboratories ...... 150,000 2,593,482 10,256,250 ACCO World Corp...... 23,000 472,640 603,750 Aetna Life & Casualty Co...... 8,600 302,938 460,100 Alcan Aluminium Ltd...... 20,000 598,700 580,000 Allied-Signal Inc...... 147,060 4,947,778 6,875,055 Aluminum Co. of America ...... 696,300 12,461,794 26,807,550 American Express Co...... 181,760 6,726,693 9,633,280 American Group Ltd...... 20,000 417,458 472,520 American Home Products Corp...... 120,000 7,457,490 7,545,000 American Information Technologies Corp...... 20,000 1,189,857 2,130,000 Amoco Corp...... 290,000 13,027,572 17,943,750 AMP, Inc...... 321,000 5,345,539 11,556,000 Amsterdam-Rotterdam Bank ...... 23,520 512,559 984,440 Archer-Daniels-Midland Co...... 125,000 2,736,786 3,250,000 Atlantic Richfield Co...... 32,000 1,582,815 2,040,000 Avantek Inc...... 100,000 2,681,052 1,912,500 Avery International Corp...... 40,000 1,319,148 1,475,000 Baker International Corp...... 115,000 2,858,811 2,055,625 Bankers Trust New York Corp...... 40,000 2,894,069 2,940,000 Baxter Travenol Laboratories, Inc...... 121,281 1,656,850 1,910,176 Baxter Travenol Laboratories, Inc. pfd. A ...... 13,254 662,740 639,506 Baxter Travenol Laboratories, Inc. pfd. B ...... 21,207 1,060,384 1,211,450 Bell Atlantic Corp...... 20,000 1,207,611 2,130,000 BellSouth Corp...... 60,000 1,558,033 2,940,000 Belo (A. H.) Corp...... 8,000 365,130 418,000 Best Electric Co., Ltd...... 57,000 369,103 511,269 Best Products Co., Inc...... 35,000 437,565 529,375 Bethlehem Steel, $5. 00 conv. pfd. 25,000 1,170,850 984,375 Big Three Industries, Inc...... 150,000 3,694,545 3,881,250 Birmingham Steel Corp...... 226,952 964,104 964,104 Boise Cascade Corp...... 150,000 4,739,899 7,050,000 Bolar Pharmaceutical Co...... 25,000 360,263 437,500 Bombardier Inc...... 40,229 405,862 420,351 Bristol-Myers Co...... 114,000 6,025,021 7,552,500 Brush Wellman, Inc...... 40,000 1,065,875 1,360,000 Burlington Northern Inc...... 30,000 2,148,000 2,047,500 Burroughs Corp...... 55,000 4,234,425 3,485,625 CBS Inc...... 4,701 446,542 544,728 CIGNA Corp...... 157,400 3,958,965 10,112,950 Cable & Wireless PLC ...... 61,875 307,340 500,809 Cabot Corp...... 25,000 667,898 637,500 92

December31, 1985 Approximate CORPORATE STOCK (continued) Shares Book Value Market Value

Capital Holding Corp ...... 110,000 564,350 3,231,250 Carlo Gavazzi Holding AG ...... 173 275,797 471,060 Caterpillar Tractor Co...... 100,000 6,102,160 4,200,000 Champion International Corp...... 50,000 1,260,598 1,243,750

Chesebrough-Pond's Inc ...... 24,600 994,794 1,042,425 Chicago Pacific Corp...... 19,200 517,526 441,600 Cipher Data Products Inc...... 28,000 559,625 486,500 CityFed Financial, $2. 10 conv. pfd...... 20,000 487,500 485,000 Coca-Cola Co ...... 102,600 7,723,189 8,669,700 Colorado National Bankshares Inc ...... 18,000 347,257 400,500 Consumers Power Co...... 77,000 485,655 577,500 ContinentalCorp ...... 12,300 391,107 578,100 Continental Illinois Holding Co ...... 100,000 2,521,011 475,000

Cooper Industries, Inc ...... 11,200 392,894 470,400 Corning Glass Works ...... 35,500 1,294,053 2,192,125 DC Investors Inc...... 6,528 626,406 626,406

Deere&Co ...... 135,000 4,406,408 3,881,250

Delmarva Power & Light Co ...... 55,000 1,444,447 1,533,125

Diebold, Inc ...... 15,000 830,858 620,625 Digital Communications Associates ...... 11,940 277,775 471,630

Digital Equipment Corp ...... 40,000 5,025,760 5,300,000 Dionex Corp...... 12,000 295,700 510,000

Distillers Co ...... 100,000 401,231 711,488 Dome Mines, Ltd ...... 65,000 1,177,890 593,125

Dome Petroleum, Ltd ...... 500,000 5,801,137 1,062,500

Donnelley (R.R.) and Sons Co ...... 25,000 689,740 1,590,625

Dover Corp...... 10,000 353,400 403,750

Dresser Industries, Inc ...... 230,000 6,947,025 4,168,750 Dun & Bradstreet Corp ...... 161,500 3,447,387 13,525,625

Dunlop Olympic Ltd ...... 330,000 499,918 583,026

Emerson Electric Co ...... 6,000 438,872 487,500 EmulexCorp ...... 36,400 551,712 418,600 Enserch Corp...... 50,200 1,303,014 1,116,950 Exxon Corp...... 500,000 13,777,602 27,562,500 FPL Group, Inc ...... 400,000 5,481,218 11,300,000 Fanuc Ltd...... 15,400 428,382 567,110

Fidelcor Inc ...... 16,000 237,185 510,000 First Pennsylvania Corp., $2.625 conv. pfd...... 20,000 526,897 650,000

Fort Howard Paper Co ...... 40,000 714,170 1,960,000

GAF Corp...... 7,000 371,059 413,000 General Cinema Corp...... 31,000 643,203 1,197,375 General Electric Co...... 174,800 4,947,921 12,716,700 GeneralReCorp ...... 125,000 682,751 12,515,625 General Signal Corp ...... 25,000 1,092,976 1,159,375

Grace (W.R.) & Co ...... 11,000 490,880 526,625 93

December31, 1985 Approximate CORPORATE STOCK (continued) Shares Book Value Market Value

Great Lakes Chemical Corp...... 50,000 1,278,432 1,937,500 Great Northern Nekoosa Corp...... 32,000 1,105,933 1,340,000

Gulf States Utilities Co ...... 54,000 1,060,619 702,000 HK-TVB Ltd ...... 600,000 452,847 476,877 Hanna (M.A.) Co...... 100,182 4,558,281 2,028,686 Hercules Inc ...... 100,000 2,582,072 3,937,500 Hewlett-Packard Co...... 250,000 1,450,600 9,187,500 Honeywell, Inc ...... 100,000 3,521,851 7,412,500 Hong Kong & China Gas Co. Ltd...... 386,250 407,273 693,202

Hubbell, Harvey Inc ...... 60,000 972,002 1,492,500 Hussel Holding AG ...... 4,700 445,628 822,036 Inland Steel Co., $4.75conv. pfd ...... 22,300 965,201 1,050,888

International Business Machines Corp ...... 268,656 10,375,113 41,776,008 International Flavors & Fragrances, Inc. .... 125,000 2,781,229 5,000,000 International Harvester Co., $5.76 conv. pfd...... 8,300 346,013 429,525 International Paper Co...... 175,000 6,026,562 8,881,250 Jamesway Corp...... 26,500 451,667 559,813 Johnson &Johnson ...... 202,900 6,223,842 10,677,613 Keystone International, Inc ...... 34,452 622,481 542,619 Kimberly-Clark Corp...... 200,000 3,581,231 13,400,000

Koppers Co...... 119,400 747,187 2,507,400 KoreaFund Inc ...... 26,193 333,821 461,652 La Quinta Motor Inns, Inc...... 35,000 423,653 433,125 Leffers AG ...... 2,940 264,300 418,543 LiebertCorp ...... 18,000 361,200 468,000 Lockheed Corp...... 100,000 5,053,453 4,912,500 Loctite Corp ...... 16,000 463,307 544,000 Lone Star Industries Inc...... 17,200 489,760 524,600 Long Island Lighting Co...... 53,000 449,234 424,000

Longview Fibre Co ...... 25,000 658,125 687,500 Lubrizol Corp ...... 40,000 884,507 1,120,000 Macy(R.H.)&Co ...... 107,100 2,004,133 6,666,975 Management Science of America Inc. 40,000 599,450 440,000 McDonald's Corp...... 25,000 1,972,725 2,021,875

MellonBankCorp ...... 439,360 11,460,406 22,901,640 Melville Corp ...... 8,700 386,642 439,350 Merck & Co...... 106,300 7,599,485 14,563,100

Micom Systems Inc ...... 22,500 722,400 500,625 Middle South Utilities, Inc ...... 300,000 5,410,849 3,187,500 Midland-Ross Corp ...... 28,000 459,380 511,000 Minnesota Mining & Manufacturing Co. ... 129,500 7,064,005 11,622,625 . Mobil Corp ...... 530,000 11,055,425 16,032,500

Molex, Inc...... 14,400 389,592 525,600 Monsanto Co ...... 11,000 507,280 525,250

Morgan(J.P.)&Co ...... 100,000 2,171,072 6,412,500 Motorola, Inc ...... 30,000 1,140,592 1,166,250 Mount Charlotte Investments PLC ...... 337,000 279,326 431,104 94

December31, 1985 Approximate CORPORATE STOCK (continued) Shares Book Value Market Value NCR Corp...... 21,000 504,103 845,250 National Intergroup, Inc...... 32,300 987,948 884,213 New England Business Service Inc...... 16,100 507,025 515,200 Newmont Mining Corp...... 35,000 1,837,459 1,649,375 Noble Affiliates, Inc...... 93,000 1,641,440 1,255,500 Northern Indiana Public Service Co...... 122,000 2,614,576 1,204,750 Norwest Corp...... 13,000 324,495 406,250 NYNEX Corp...... 20,000 1,133,175 1,955,000 Occidental Petroleum Corp., $6.25 conv. pfd...... 10,000 509,850 555,000 Ogilvy Group, Inc...... 14,000 349,125 605,500 Oklahoma Gas & Electric Co...... 100,000 1,775,832 2,737,500 Olivetti Group, Inc...... 110,000 326,530 485,407 PLM AB ...... 29,600 413,001 546,209 Pacific Telesis Group ...... 20,000 1,022,090 1,692,500 Pall Corp...... 199,999 3,215,727 5,999,970 Pfizer Inc...... 20,000 951,100 1,012,500 Philadelphia Savings Fund Society. 42,600 448,500 431,325 Philips Lamps ...... 20,500 313,242 459,398 Pic 'n' Save Corp...... 26,000 552,550 799,500 Pillsbury Co...... 170,600 5,023,591 10,470,575 Pitney Bowes, Inc...... 22,000 700,372 1,067,000 Policy Management Systems Corp. 87,200 2,095,508 2,005,600 Rainier Bancorporation ...... 12,200 356,423 419,375 Ralston Purina Co...... 17,000 716,285 799,000 Raytheon Co...... 8,000 364,755 429,000 Regis Corp...... 34,000 304,401 586,500 Rite Aid Corp...... 17,000 390,905 439,875 Roadway Services Inc...... 17,300 503,187 601,175 Rodime PLC ...... 42,000 421,250 472,500 Rymer Co., $1.175 conv. pfd...... 70,000 728,677 892,500 Safeco Corp...... 10,000 454,650 463,750 Sara Lee Corp...... 17,000 460,688 864,875 Schlumberger, Ltd...... 163,000 4,750,456 5,949,500 Schweizerischer Bankverein Inhaber ...... 3,075 414,104 852,108 Sears, Roebuck and Co...... 102,600 2,750,121 4,001,400 Sharp Corp...... 103,000 443,044 469,635 Shell Transport & Trading Co...... 34,000 1,282,330 1,317,500 Siemens AG ...... 2,533 388,192 778,394 SmithKline Beckman Corp...... 100,000 2,920,896 7,562,500 Societe des Applications Generales d'Electricite et de Mecanique ...... 2,150 382,808 488,957 Sonat Inc...... 30,000 785,623 1,020,000 Southern California Edison Co...... 54,064 606,882 1,439,454 Southwestern Bell Corp...... 20,000 1,092,520 1,710,000 Squibb Corp...... 125,000 4,137,162 10,000,000 Standard Oil Co. of Ohio ...... 150,000 5,922,244 7,481,250 95

December31, 1985 Approximate CORPORATE STOCK (continued) Shares Book Value Market Value Stevens J.P.) & Co...... 17,600 379,066 545,600 Sundstrand Corp...... 100,000 3,515,678 5,450,000 Super Valu Stores, Inc...... 318,000 2,514,451 7,115,250 Supermarkets General Corp...... 28,000 256,656 1,414,000 Syntex Corp...... 43,400 1,154,185 2,028,950 Tandy Corp...... 23,300 782,429 949,475 Tektronix, Inc...... 50,000 2,327,604 2,812,500 Texas Industries, Inc...... 26,376 778,142 801,171 Texas Oil & Gas Corp...... 80,200 1,619,467 1,233,075 Texas Utilities Co...... 200,000 3,896,678 5,975,000 Thomas & Betts Corp...... 20,000 502,243 815,000 Transamerica Corp...... 15,000 486,540 506,250 Transworld Corp...... 14,700 453,981 582,488 Travelers Corp...... 200,000 3,467,998 9,600,000 USF & G Corp...... 210,400 6,391,319 8,205,600 Union Camp Corp...... 155,000 1,889,593 6,161,250 Union Pacific Corp...... 11,000 439,835 592,625 U S West, Inc...... 20,000 1,029,528 1,780,000 Walgreen Co...... 47,500 300,714 1,335,938 Walter Rentsch AG ...... 240 283,168 601,446 Warner-Lambert Co...... 200,000 4,774,685 9,500,000 Washington Post Co...... 9,000 598,107 1,068,750 Westinghouse Electric Corp...... 98,300 903,613 4,374,350 Westvaco Corp...... 30,000 884,500 1,271,250 Weyerhaeuser Co...... 209,300 4,986,108 6,435,975 Willamette Industries Inc...... 22,000 960,125 1,133,000 Xerox Corp...... 72,073 5,248,705 4,306,362 Yamazaki Baking Co...... 113,000 305,180 502,956 Zenith National Insurance Corp., $2.25 conv. pfd...... 20,000 500,000 640,000 418,368,225 681,749,971 Other stockholdings, none valued at more than $400,000 ...... 35,052,402 37,339,282 Total corporate stock ...... 453,420,627 719,089,253 Total investment securities ...... $891,600,417 $1,183,442,253 TYPOGRAPHY: COLUMBIA PUBLISHING COMPANY, INC. PRINTING: SCHNEIDEREITH & SONS, INC.