![Transcription Center logo](/themes/custom/tc_theme/assets/image/logo.png)
This transcription has been completed. Contact us with corrections.
-83- [[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 $25,403,000 and the Institution realized a net surplus of $6,343,000 from its operation. [[underlined]]Business Management[[/underlined]] activities generated $1,683,000 net revenues in FY 1979, after cost of sales and other expenses. Gross revenues for FY 1979 were $14,882,000 with expenses and cost of sales amounting to about $13,199,000. 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 for FY 1979 for these activities as a group follows: [[table - 3 columns]] | [[underlined]]Full-Time Employment | FY 1979 Unrestricted Funds ($000s)[[/underlined]] INCOME: | | Development Office | | -- Resident Associate Program | | $ 1,980 National Associate Program | | 6,942 Magazine | | 31,756 Business Management | | 14,882 | | [[line]] Total | | $55,560 EXPENSES: | | Development Office | 8 | $ 245 Resident Associate Program | 38 | 1,941 National Associate Program | 22 | 6,895 Magazine | 73 | 25,413 Business Management | 168 | 13,199 | [[line]] | [[line]] Total | 309 | $47,693 Net Gain | | $ 7,867 [[/table]]