This transcription has been completed. Contact us with corrections.
- vi - reinvestment of income over payout of $3.3 million, and new funds received for existing endowments totalling $645 thousand. Endowments The market value of the consolidated endowment as of December 31, 1994 was $370.5 million, a net decrease of $7.5 million over September 30, 1994. This decrease in market value resulted primarily from a decline in the stock market during the first quarter of fiscal year 1994. The endowment's total return was -0.96% for the quarter. Additions to the Institution's consolidated endowment pool during the first quarter included new funds of $645 thousand designated for existing endowments. The Regents considered the establishment of the Archives of American Art Endowment Fund to convert several gift funds restricted to the general purposes of the Archives of American Art into an endowment fund. It was VOTED that the Board of Regents authorizes the Secretary to establish, as part of the Institution's Endowment funds, a quasi-restricted fund to be known as the Archives of American Art Endowment Fund and to authorize the transfer of the monies identified for this purpose. CONTINUATION OF THE VOLUNTARY CONTRIBUTIONS PROGRAM IN MUSEUMS VOTED that the Board of Regents authorizes the Secretary to continue indefinitely the voluntary donations project in the various Smithsonian museums and the National Zoo and to expand the project where promising, with the understanding that the results of this program will be reported regularly to the Board. SMITHSONIAN EARTH DAY CONFERENCE ON BIODIVERSITY On April 21-22, 1995, Secretary Heyman and Counselor to the Secretary Thomas Lovejoy hosted a major symposium on biodiversity and the Endangered Species Act. STATUS REPORTS The Regents received status reports on the following topics: Litigation Mitchell and other Advancement/Idemnification Cases Legislative Actions and Issues Senior Level Recruitments Voluntary Early Retirement Program Development Initiatives and Funds Raised Major Construction Activities Natural History Museum West Court/Discovery Center Biodiversity and Environmental Initiatives Electronic Access and Communications Update on Latino Affairs