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-79-

[[underlined]]The Magazine[[/underlined]] has been one of the most successful public education ventures established by the Smithsonian. Its general acceptance is a tribute to the role it has played in filling a need for style and elegance, as well as lucid reporting on cultural and scientific developments taking place in today's world. The largest portion of the resources for this group of activities is contained within the operations of the Magazine.  In FY 1979, the expenses of this trust fund activity are approximately $24,900,000 and the Institution expects a net surplus of $6,300,000 from its operation.

[[underlined]]Business Management Activities [[/underlined]] are expected to generate $1,595,000 net revenues in FY 1979, after cost of sales and other expenses. Gross revenues for FY 1979 will approximate $14,345,000, with expenses and cost of sales amounting to about $12,750,000.  After meeting annual expenses, the surplus from these operations is used to fund various operational programs and activities of the Institution, or to increase the nonappropriated unrestricted trust fund reserves. A breakdown of income and expenses associated with the unrestricted trust operations expected for FY 1979 for these activities as a group follows:

[[3 column table]]
   | [[underlined]] Full-Time Employment | FY 1979 Unrestricted Funds ($000s) [[/underlined]]

INCOME: | |
Development Office | | -
Resident Associate Program | | $1,900
National Associate Program | | 6,505
Magazine | | 31,200
Business Management | | [[underlined]]14,345 [[/underlined]]
Total | | $53,950

EXPENSES: | |
Development Office | 8 | $232
Resident Associate Program | 38 | 1,800
National Associate Program | 21 | 6,555
Magazine | 72 | 24,900
Business Management | [[underlined]]159 | 12,750 [[/underlined]]
Total | 298 | $46,237

Net Gain |    | [[double-underlined]]$7,713 [[/double-underlined]] [[/table]]

Transcription Notes:
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