Viewing page 424 of 474

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]]