Viewing page 76 of 164

This transcription has been completed. Contact us with corrections.

- 57 -

THE SECRETARY'S REPORT

The Secretary briefed the Regents on a number of matters which did not lend themselves to written presentations in the prepared agenda for this meeting.

SMITHSONIAN MAGAZINES

The Secretary reported on state of the Smithsonian's popular magazines, which have a major role to play in the Institution's diffusion of knowledge. He acknowledged that Smithsonian magazine is, like many magazines, feeling the effects of economic downturn and diminishing advertising as well as sharp increases in postal rates, compounded by the relative disadvantages of a general magazine and one which may have only limited appeal to younger audiences. In all, Smithsonian is still a very successful magazine, but its return to the institution is projected to drop substantially. While Air & Space magazine has had a positive cash flow in the current year, in 1992 for some of the same reasons, including the postal rate increase, it is anticipated that the magazine may run at a deficit.

SESQUICENTENNIAL FUND

Mr. Adams noted that the Smithsonian National Board would like to be involved in a substantial endowment campaign but would like to find a way in which to use that activity as a way of reasserting the importance of the "private" side of the Smithsonian's public/private partnership and would like to reaffirm thereby to the Congress and to the Administration the vitality of that special Smithsonian partnership. The suggestion is that a special fund named for the contributions of the National Board, resting upon a decision-making process which involves the National Board along with the Board of Regents and the Institution's priorities, would make a auspicious beginning for an endowment campaign. The Institution's General Counsel will be working