Net Assets

At December 31, 2013, the Society had net assets totaling $896 million. More than Eighty percent of these net assets are designated for specific purposes, either by the donor or by the ACS Board of Directors.

  • Unrestricted net assets: $251 million
  • Temporarily restricted net assets: $499 million
  • Permanently restricted net assets: $146 million

Unrestricted Net Assets: $251 million

The Society has $251 million in unrestricted net assets. These net assets are intended to protect the Society’s long-term viability, particularly in the event of a severe and sustained downturn in the economy, uninsured losses or the occurrence of a catastrophic event.

The Member Insurance Program has accumulated $38 million in unrestricted net assets which is included in the $251 million listed above. The Board of Trustees of the Member Insurance Program has determined that these funds will be used for the benefit of participants in ACS Member Insurance Plans, and to protect the program against adverse claims experience.

Temporarily Restricted Net Assets: $499 million

The Society has approximately $499 million in temporarily restricted net assets, which represents donations received in support of specific Society programs.

Program Assets
ACS Petroleum Research Fund $471 million
Grants and Awards $25 million
Membership & Scientific Advancement $2 million
Education $1 million
Total Temporarily Restricted Net Assets $499 million

Permanently Restricted Net Assets: $146 million

Permanently restricted net assets are approximately $146 million. The ACS Petroleum Research Fund accounts for $73 million of the total. The $73 million is an endowed amount (permanently restricted net assets) that generates interest and dividends used to provide grants to support education and research in the petroleum field. The $73 million permanently restricted balance may not be expended at any time, for any purpose, in accordance with the establishment of the ACS Petroleum Research Fund by order of the Supreme Court of New York..

Program Assets
ACS Petroleum Research Fund $73 million
Grants and Awards $71 million
Membership & Scientific Advancement $2 million
Total Permanently Restricted Net Assets $146 million