Report of the Treasurer to the Council For the Year Ended December 31, 2003.

TitlePage -- Contents -- Treasurer's Statement -- I. Investments -- SCHEDULE 1 Endowment and Trust Investment Funds - Description of Funds for the Year Ended December 31, 2003 -- SCHEDULE 1-A Endowment and Trust Investment Funds - Financial Detail of Funds for the Year Ended December 31, 2003 -- SCHEDULE 2 Endowment and Trust Investment Pool - Asset Allocation as of December 31, 2003 -- SCHEDULE 2-A Endowment and Trust Investment Pool - Change in Valuation and Market Value Summary -- II. Private Contributions -- III. Financial Condition -- Report of the Auditing Committee of the National Academy of Sciences -- Independent Auditors' Report -- Statements of Financial Position -- Statements of Activities -- Statements of Cash Flows -- Notes to Financial Statements.