TheAndrew W. Mellon Foundation Report 1969 · 2018. 10. 26. · TheAndrewW.MellonFoundation Report fromJanuary1, 1969 throughDecember31,1969 140East 62ndStreet, NewYork, NewYork 10021

The Andrew W. Mellon Foundation

Report 1969

Manufactured in the United States ofAmerica1969


ReportfromJanuary 1, 1969through December31, 1969

140 East 62nd Street, New York, New York 10021

AILSA MELLON BRUCE

igol - 1969

Trustees

William 0. BakerG. Lauder GreenwayCharles S. Hamilton, Jr.

Paul MellonNathan M. PuseyStoddard M. Stevens

Officers

Charles S. Hamilton, Jr. PresidentAlbert O'B. Andrews Vice President and SecretaryKennethJ. Herr Treasurer and Assistant Secretary

General Counsel Sulivan & Cromwell

7

O N June 30, I969 Old Dominion Foundation was merged into AvalonFoundation and the name of the latter changed to The Andrew W.

Mellon Foundation. This then is the first Annual Report ofthe Foundationunder its present name.

Avalon Foundation was founded by Ailsa Mellon Bruce on Decem-ber 26, I940 as a common law charitable trust. In I954 it was incorporatedunder the Membership Corporations Law ofthe State ofNew York. OldDominion Foundation had been established in I94I by Paul Mellon underthe laws ofthe Commonwealth ofVirginia. The two individuals were thechildren ofAndrew W. Mellon who served as Secretary of the Treasuryfrom I92I to I932, and subsequently as Ambassador to the Court of St.James s.

At December 3 I, I969 total assets ofThe Andrew W. Mellon Foun-dation approximated $233,828,072 at market value and $220,3I4,I9I atbook value. Net income for the year available for grants, on a combinedbasis, amounted to $Io,875,62I, and grants paid during the year totalled$II,4I3,274. Since the formation of the Foundation in I940, it and OldDominion Foundation have appropriated a total of $I65,389,382 forphilanthropic purposes, ofwhich $I59,I38,849 had been paid as ofthe endof I969.

Ailsa Mellon Bruce died on August 25, I969. She had served as aTrustee ofthe Foundation since its formation, andhadbeen a most generousbenefactor to it and to many other philanthropic causes. Seeking onlyanonymity in her giving, her generosity brought aid and comfort to manyothers and constituted philanthropy in its finest sense.

The Foundation has remainder interests in certain trusts establishedby Mrs. Bruce during her lifetime and is the residuary legatee under her

8

will. It is expected that pursuant to these instruments substantial distribu-tions will be received by the Foundation during the current year.

The information set forth in this Annual Report is presented on abasis which combines the operations of Avalon Foundation and OldDominion Foundation during the period oftheir separate existence in I969to June 30th with the operations ofThe Andrew W. Mellon Foundationfor the balance ofthe year under review. In the listing ofgrants, accordingly,no distinction is drawn as between donors of the grants. The financialstatements contained herein are similarly presented on such a combinedbasis.

The Foundation does not make grants to individuals. It has noprescribed forms of application for grants, and usually a reasonably de-scriptive letter is sufficient to determine whether further investigationseems warranted. Both the status of the applicant and the status of anypossible grant which may be made by the Foundation will necessarily in-volve consideration of the provisions of the Tax Reform Act of I969relating to foundations. Prospective applicants would, therefore, be welladvised to familiarize themselves with such provisions ofthe Act as may bepertinent.

There follows a brief summary of certain selected grants madeduring the year under review. There is appended to this Report a detailedlist of all appropriations made and grants paid during the year, togetherwith the relevant financial statements.

CHARLES S. HAMILTON, JR.

PresidentMay 1, 1970

9

Summaries of Certain Selected Grants

EDUCATION

The American Association of Theological Schools in the United States andCanada, Inc., Dayton, Ohio-$450,000 in general support for the Associationwhich, among other things, functions as the official accrediting agency forgraduate and professional theological education.

American Field Service, Inc., New York, N. Y.-$ioo,ooo for scholarshippurposes, in support of the Service's international educational exchangeprogram for high school students.

American School inLondon Foundation, Inc., New York, N.Y. -$200,000toward the construction ofa library at the School, which provides educationfor young Americans living in England.

Clare College, Cambridge, England-$200,000 for the purpose of in-creasing the endowment for fellowships at Clare Hall, a Centre for Ad-vanced Scholars established by the College.

Educational Broadcasting Corporation, New York, N.Y.-$ioo,ooo forthe general support ofthe Corporation, which operates New York City'sfirst educational television station.

The Fundfor Theological Education, Inc., Princeton, N.J.-$i5o,ooo insupport of the Fund's Trial Year Fellowships Program and MinisterialRecruitment Programs, both designed to acquaint men and women withchurch-related careers.

Harvard University, Cambridge, Mass.-$i,ooo,ooo toward the endow-ment ofthe Center for Hellenic Studies, in Washington, D.C. The Center,which was established in I96I with the assistance of the Foundation, pro-vides fellowships and publication assistance to advance teaching andresearch in classical Greek culture and the Hellenic tradition.

Institute for Philosophical Research, Chicago, III.-$i5o,ooo for thegeneral support of the Institute, which was established to analyze and

10

clarify Western thought on subjects of continuing philosophical interestfrom ancient Greece to the present day.

Smith College, Northampton, Mass.-$5oo,ooo toward the constructionofa new Center for the Fine Arts to provide facilities for the DepartmentofArt and the Museum ofthe College.

Tougaloo College, Tougaloo, Miss.-$ioo,ooo to aid in the constructionofa new library building.

Tulane University, New Orleans, La.-$ioo,ooo toward the construc-tion ofa new Science Center which will house the departments ofbiology,psychology, chemistry, physics and mathematics.

The Virginia Foundatiott for Independent Colleges, Lynchburg, Va.$25o,ooo to provide support over a three-year period for the Foundation'sprogram of developing financial aid from the business community for itstwelve member colleges.

The Woodrow Wilson National Fellowship Foundation, Princeton, N.J.-$i5o,ooo in support of the Foundation's First Year Graduate FellowshipProgram, which provides financial assistance to graduate students seekingcareers in college-level teaching ofthe humanities and social sciences.

Yale University, New Haven, Conn.-$750,000 to endow a professor-ship in honor ofthe late William C. DeVane, Dean ofYale College for 2Syears. The holders of the professorship will be responsible for devisingcourses to convey the essence of their specialties to nonspecialists.

HEALTH AND MEDICINE

Affiliated Hospitals Center, Inc., Boston, Mass.-$5oo,ooo to aid in theconstruction of a proposed new unified hospital and medical facility tohouse the Boston Hospital for Women, the Peter Bent Brigham Hospitaland the Robert B. Brigham Hospital, all teaching hospitals of HarvardMedical School.

American Friends Service Committee, Inc., Philadelphia, Pa.-$I75,000in support ofthe Committee's family planning program in Latin America,initiated with a grant from the Foundation in I965.

11

Blood Research Institute, Inc., Boston, Mass.-$ioo,ooo to assist inacquiring and renovating a building to house the Institute which is in-volved in a wide variety of projects covering biochemical research onblood.

Duke University Medical Center, Durham, N.C.-$2oo,ooo to aid inthe construction of a new classroom facility for the Center's School ofNursing, which offers a four-year baccalaureate program.

Harvard University, Cambridge, Mass.-$250,000 to the School ofPublic Health toward the construction ofa new educational facilities build-ing, which will enable the School to expand its enrollment.

Health Research, Inc., Buffalo, N.Y. -$2oo,ooo toward the constructionofa chemo-therapy-pharmacology building at the Roswell Park MemorialInstitute, a major cancer research and treatment center.

Knickerbocker Hospital, New York, N.Y.-$ioo,ooo for emergencysupport of the Hospital, one of the first voluntary hospitals established inNew York City.

The Menninger Foundation, Topeka, Kan.-$25o,ooo to aid in theconstruction of a children's clinic building adjacent to the Children'sHospital operated by The Menninger Foundation for the treatment ofemotionally disturbed young people.

National Medical Fellowships, Inc., Downers Grove, III.-$ioo,ooo forthe purpose of supporting the organization's scholarship program whichassists black students seeking medical careers.

The New York Institutefor the Education ofthe Blind, New York, N.Y.-$2oo,ooo to aid in the construction of a new Diagnostic Clinic and Edu-cational Center for multi-handicapped blind children.

NewYork University Medical Center-Institute ofRehabilitation Medicine,New York, N.Y.-$i5o,ooo in support ofresearch activities in the field ofhypertension and stroke.

Planned Parenthood Federation of America, Inc., New York, N.Y.-$ioo,ooo to continue support of the organization's program of familyplanning assistance in the southeastern states.

The Population Council, New York, N.Y.-$300,000 for the general

12

support ofthe Council which serves as a clearing house for information inthe field of population studies and stimulates research, training and con-sultation in this area.

St. Vincent's Hospital and Medical Center, New York, N.Y.-$20o,oootoward the construction of a new building for the Hospital's School ofNursing.

The Salk Institutefor Biological Studies, San Diego, Cal. -$25o,ooo toaid in equipping new laboratories for expanding programs in neuro-biology and reproductive biology at the Institute.

University ofPennsylvania School ofDental Medicine, Philadelphia, Pa.-$ioo,ooo to assist in the construction ofan Oral Health Sciences Buildingwhich will enlarge the School's capacity for teaching and research.

OTHER CULTURAL PROJECTS

American Museum ofNaturalHistory, New York, N.Y.-$i,ooo,ooo to-ward a $25,000,000 capital funds drive for plant improvement and endow-ment.

American Shakespeare Festival Theatre and Academy, Stratford, Conn.-$200,000 toward general support and to provide working capital for theTheatre's presentations and educational programs.

New Jersey Symphony Orchestra, Newark, N.J.-$ioo,ooo for thegeneral support ofthe Orchestra.

The Paul Mellon FoundationforBritish Art, London, England-$I39,773to support research and publication advancing knowledge ofBritish paint-ing, sculpture, and graphic arts.

CIVIC PROGRAMS, COMMUNITY SERVICES ANDCONSERVATION

The American Law Institute, Philadelphia, Pa.-$ioo,ooo to aid a studyof the federal regulatory statutes administered by the Securities and Ex-change Conmmission.

13

Family and Child Services of Washington, D.C.-$ioo,ooo toward thecost ofdeveloping camping facilities at Moss Hollow, Markham, Virginiafor children and families ofthe Washington ghetto.

National Audubon Society, New York, N.Y.-$200,ooo to increase thenumber ofits field representatives who maintain nationwide contact withlocal chapters and other groups with aims similar to those of the Society.

Population Reference Bureau, Washington, D.C.-$IO5,OOO for thegeneral support of the Bureau which gathers, interprets and disseminatesinformation on population trends.

Wildlife Preserves, Inc., Tenafly, N.J.-$205,000 to assist the organi-zation in meeting its land acquisition payment obligations with respect toland in Troy Meadows, NewJersey, which it now owns or controls.

Statistical Tables and Financial Statements

Included in this report are tables asfollows:

I Summary of grants, I969

II Statement of grants, I969

III Financial statements for the year I969

16


Table ISummary ofGrants 1969

UnpaidJan. 1,1969

Civic Programs andCommunity Services . $ I70,000

Cultural Projects:Performing Arts . . $ 220,000Museums and Libraries 4I8,000Conservation . . . 355,000Other Cultural Projects 31I,340

$I,304,340

Education . . $2,72I,697

Appro-priated Paid

UnpaidDec. 31,1969

$ 486,497 $ 576,497 $ 80,ooo

$ 488,oooI,273,500

542,500214,773

$ 2,5I8,773

$ 4,931I,000

$ 548,ooo $ I60,0009I I,666 779,834697,500 200,000526,1I3 -0

$ 2,683,279 $1,I39,834

$ 5,796,998 $i,855,699

Health and Medicine:Education in the HealthSciences . . . . $ 66o,ooo $ 860,ooo $ 370,000 $I,I50,000Other Grants for Healthand Medicine .

Youth Programs .

780,000

$1,440,000

$ I02,500

Totals $5,738,537

2,620,500

$ 3,480,500

$ 5o8,5oo

$I1,925,270

1,450,500 I,950,000

$ I,820,500 $3,100,000

$ 536,ooo $ 75,000

$II,4I3,274 $6,250,533

17


Table IIStatement ofGrants 1969*

CIVIC PROGRAMS ANDCOMMUNITY SERVICESAgribusiness Council, Inc., New York:

Support ofprogram to help resolve foodproblems in emerging countries .

American Law Institute, Philadelphia, Pa.:To aid in a study of federal regulatory

statutes administered by the Securitiesand Exchange Commission

American Red Cross:Greater New York Chapter.Nassau County Chapter, Mineola, N.Y.

American Society of Intemational Law,Washington, D.C.:

Support ofthe Society which serves as aforum for the exchange ofthought amongprofessionals in the field ofintemationallaw

Community Council of Greater New York,Inc.:

Support of this central resourcecoordinating the work ofNew York'svoluntary health and social welfareagencies .

UnpaidJan. 1,1969

Appro-priated

UnpaidDec. 31,

Paid 1969

- $IS,000 SIs,000 $ -

- IOO,300,0003S,0o0 65,ooo

- 10,000 IO,OOO -- 3,000 3,000 -

25,000 - 2S,000

- 10,000 I0,000

* Unless otherwise noted, grants arefor general purposes ofrecipient.

18

CIVIC PROGRAMS ANDCOMMUNITY SERVICES (continued)

UnpaidJan. 1,1969

Appro-priated

UnpaidDec. 31,

Paid 1969

Community Service Society ofNew York:Support of the Socie's programs

for needy families in New York . . . $

Council ofChurches ofthe City ofNew York:

Support ofcommunity services andchurch-oriented programs

Goodwill Industries of Greater New York,Inc.

Henry Street Settlement, New York:To assist in financing repairs

at its summer camp

Human Resources Center,Albertson, N.Y.:To assist in implementing the Center'scomputer training program forhandicappedpersons. I00,000

Industrial Home for the Blind,Brooklyn, N.Y.:

General support ofa multi-serviceprogram for the blind.

International Center in New York, Inc.:General support of its services for foreign

visitors studying or training in theUnited States

James WeldonJohnson CommunityCenter, Inc., New York:

Support of its community serviceprograms in East Harlem.30,000

Legal Aid Society, New York:Support ofprogram of legal advisory

service and representation for thoseunable to pay

$I1,500 $I,500 $ -

1,000 I,000

2,497 2,497

4,000 4,000

- I00,000

5,000 5,000 -

28,000 28,000 -

- I 5,000 I 5,000

I0,000 I0,000

CIVIC PROGRAMS AND

COMMUNITY SERVICES (continued)Lenox Hill Neighborhood Association, Inc.,New York:

For general support of its communityservice programs in the Upper East Sidearea ofManhattan.

Moton Memorial Foundation, Inc.,(Richmond, Va.), New York:For renovation ofMoton Conference

Center, an adult education conferencecenter in Capahosic, Virginias.

National Information Bureau, New York:For support of its advisory service

for contributors to charities

New York Association for the Blind:For support ofprogram of socio-

recreative services for the blind

Park Association ofNew York City, Inc.:For support ofprogram ofThe

Environmental Resource Councilconsisting ofrepresentatives of Cityorganizations interested in environmentand conservation

General support

Population Reference Bureau, Inc.,Washington, D.C.:

For general support ofBureau whichgathers, interprets and disseminatesinformation on population trends

Recording for the Blind, Inc., New York:For general support in recording of

textbooks and educational materialsfor the blind

Salvation Army, New York:Support of its programs of social welfare

to the homeless and needy

UnpaidJan. 1, Appro-1969 priated

UnpaidDec. 31,

Paid 1969

- $I7,000 $I7,000 $ -

- 5,000 5,000 -

- 500 500 -

- 1,500 I,500 -

- 10,000 I0,000 -

- 2,500 2,500 -

15,000 I05,000 I20,000 -

- 5,000 5,000 -

- 3,000 3,000

19

20

CIVIC PROGRAMS AND

COMMUNITY SERVICES (continued)

Tolstoy Foundation, Inc., New York:Support of its program ofimmigrationand resettlement ofrefugees .

Travelers Aid Society ofNew York:Support ofthe Society which gives

individualized services to travelers

United Neighborhood Houses ofNew York,Inc.:

Support ofJoint Supplemental Fund,shared with member settlement houses

United Service Organizations ofNew York,Inc.:

Support of its program ofservicesto members ofthe Armed Forces

Women's Prison Association and Home,Inc., New York:

Support ofrenovation and expansionof its headquarters .

UnpaidJan. 1,1969

Appro-priated

UnpaidDec. 31,

Paid 1969

$- $40,000 $40,000 S -

- 2,000 2,000

- s°,000 50,000

- 5,000 5,000 -

- 50,000 50,000 -

Total-Civic Programs andCommunity Services $I70,000 $486,497 $576,497 $80,000

21

CULTURAL PROJECTSPerforming Arts

American Shakespeare FestivalTheatre and Academy (Stratford,Conn.), New York:

Support ofthe Theatre'spresentations and educationalprograms

California Institute ofTechnology,Pasadena, Cal.:Toward cost ofestablishingan art workshop program

City Center ofMusic and Drama,Inc., New York:

Support ofprogram offree ordiscount priced tickets forNew York City underprivilegedchildren, and students

Metropolitan Opera Association,Inc., New York

NewJersey Symphony Orchestra,Newark, N.J.

New York Shakespeare Festival,New York:

Support ofthe Public Theatreat the Astor Library

Opera Association ofNew Mexico,Santa Fe, N.M.:

Support of its ApprenticeProgram

General support .

Opera Festival Association, Inc.,Glens Falls, N.Y.:Toward support ofLake George

Opera Festival

Philharmonic-Symphony SocietyofNew York, Inc..

UnpaidJan. 1,1969

Appro-priated Paid

UnpaidDec. 31,1969

- $2,00000 $Io0,000 $50,000

- 25,oO025,000 25,OOO -

75,OOO - 25,000 50,000

- 25,000 2S,000 -

- I00,000 I00,000 -

- 35,000 35,000 -

6o,ooo - 30,000 30,0006o,ooo - 30,000 30,000

- 3,000 3,000 -

- 25,000 25,000

22

UnpaidJan. 1,1969

CULTURAL PROJECTSPerforming Arts (continued)Saratoga Performing Arts Center,Inc., Saratoga Springs, N.Y.:Toward completion ofamphitheatre.

Theatre Incorporated (PhoenixTheatre), New York

Washington Drama Society, Inc.,Washington, D.C.:Toward construction ofnew

theatre unit ofArena Stage

Subtotal $220,ooo

Museums and Libraries

American Museum ofNaturalHistory, New York:Toward capital funds driveGeneralsupport.

Brooklyn Museum, Brooklyn, N.Y.:Toward construction ofworkshops for the Museum'sJunior Membership program

Cooper Union Museum CharitableTrust, New York:To assist in preserving Cooper HewittMuseum

Denver Public Library Foundation,Inc., Denver, Col.:

Support ofthe ConservationLibrary Center ofNorthAmerica

Frederick Douglass InstituteofNegro Arts and History,Washington, D.C.:Toward the cost of enlarging andimproving the Museum ofAfrican Art

Appro-priated

$25,ooo $ -

UnpaidDec. 31,

Paid 1969

$25,000 $ -

- 50,000 50,000

25,000

$488,ooo25,000

$548,ooo $I60,000

- $I,OOO,OOO $Soo,ooo $500,ooo- 2,500 2,500 -

- 50,000 50,000 -

25,000

25,000

- 25,000 -

- 25,000 -

- 50,000 50,000

23

CULTURAL PROJECTS

Museum and Libraries (continued)Horticultural Society ofNew York:Toward renovation and equippingof library space for its bookcollection

Museum ofAmerican Folk Art,New York:Toward operating costs

Museum ofthe City ofNew York:Toward cost ofacquiring and

exhibiting the collection ofthephotographic work ofCecil Beaton

For teacher-pupil audio-visualeducation program

National Gallery of Art,Washington, D.C.:

Support of its project at theCarnegie-Mellon Universityrelative to the preservationof pamitmigs

A. W. Mellon Lecturesin the Fine Arts

New York Public Library:Survey ofcorporate use of its

facilitiesGeneral support .

New York Zoological Society:Toward current capital projects

at the Bronx Zoo.

Smithsonian Institution,Washington, D.C.:Toward cost ofacquiring land

for Chesapeake BayCenter for Field Biology

Subtotc

UnpaidJan. 1,1969

Appro-priated Paid

UnpaidDec. 31,1969

- $25,000 $25,000 $-

- 25,000 25,000 -

- I1,000 1,000 -

- I0,000 I0,000 -

I83,000

35,000

- 73,I66 io9,834

- I 5,000 20,000

- 25,000 25,000- I0,000 I0,000

150,000 - I150,000

*- 75,000 75,000 -

il $4I8,ooo $1,273,500 $9II,666 $779,834

24

CULTURAL PROJECTS

ConservationAfrican Wildlife LeadershipFoundation, Inc., Washington, D.C.:Toward construction ofpark

headquarters at ArushaNational Park in Tanzania

American Littoral Society, Inc.,Highlands, N.J.:

Support ofprogram for publiceducation to promote theconservation ofestuarine habitatsand littoral resources .

Conservation Foundation,Washington, D.C.:

Support ofthe Foundationwhich conducts research andeducation in the naturalresources field.

International Union forConservation ofNature and NaturalResources, Washington, D.C.:Toward the cost ofholding

a general assembly on environ-mental problems, and for thepurchase ofequipment

National Audubon Society,New York:Towards strengthening its programoffield representatives

National Educational Television,New York:

Support ofa series on ecologyand conservation .

National Recreation and ParkAssociation, Washington, D.C.:Toward establishment ofaYouth Advisory Service.

UnpaidJan. 1,1969

Appro-priated Paid

UnpaidDec. 31,1969

$50,000 $50,000 $ -

5,000 5,000

300,000 - I00,000 200,000

- I15,000 I5,000

200,000 200,000

- 50,000 50,000

7,500 7,500

CULTURAL PROJECTS

Conservation (continued)Open Space Action Institute, Inc.,New York:

General support ofpreserving,for recreation and similar uses,

remaining open space in NewYork metropolitan region

UnpaidJan. 1,1969

Appro-priated

$25,000 $ -

Paid

$25,ooo $ -

Student Conservation Association,Inc., Oyster Bay, N.Y.:Toward conservation program

in National Parks for highschool, college, and graduatestudents

Thorne Ecological Foundation,Boulder, Col.:

Support of its ecological researchand education program

WGBH Educational Foundation,Boston, Mass.:Toward cost ofproducing

television programs onconservation for school andgeneral audiences.

Wildlife Preserves, Inc.,Tenafly, N.J.:Toward purchase ofmarshland

in Troy MeadowsSubtotal

Other Cultural Projects

American Federation ofArts,New York:

Support ofAmerican HandworkIndustries in Appalachia . . . S-

To aid in providing artperiodicals for public museumsand university galleries

- 5,000 5,000 -

- 5,000 5,000 -

30,000 - 30,000 -

- 205,000 205,000 -

$355,000 $542,500 $697,500 $200,000

$5,000 $5,000 $ -

5,000 5,000

25

UnpaidDec. 31,1969

26

CULTURAL PROJECTS

Other Cultural Projects (continued)Associated Councils ofthe Arts,New York:

Support of its program toencourage the development ofthe arts in the United Statesand Canada

Atlantic Council ofthe UnitedStates, Inc., Washington, D.C.:

Support ofthe AtlanticInstitute, a study andconference center dealing withissues affecting the commoninterests ofthe NATO countries

Business Committee for the Arts,Inc., New York:To develop a program of

increased business support ofthe arts.

Edward MacDoweil Association,Inc., Peterborough, N.H.:

Support ofMacDowell Colony,a working retreat for composersand other artists

English-Speaking Union of theUnited States, New York.

International ExhibitionsFoundation, Washington, D.C.:

Support of its program oforganizing and circulatingtraveling art exhibitions .

Paul Mellon Foundation forBritish Art, London, England:

Support of its program for theadvancement ofBritish art

San Francisco Art Institute,San Francisco, Cal.:Toward construction ofa new

studio building

UnpaidJan. i,1969

Appro-priated Paid

UnpaidDec._31,1969

$30,000 $30,000 $ -

30,000

50,000

- 30,000

- 50,000

- 2,500 2,500 -

- 2,500 2,500 -

- 5,000 5,000 -

206,340 I39,773 346,II3 -

- 25,000 25,000

CULTURAL PROJECTSOther Cultural Projects (continued)Spanish Institute, Inc., New York:Support ofits program to promote

interest in the Spanish world

Total-Cultura

UnpaidJan. 1,

1969

$ 25,000

Subtotal $ 311,340

Projects $1,304,340

27

Appro-priated

$ -

$ 2I4,773

$2,5I8,773

Paid

$ 25,000

$ 526,II3

$2,683,279

UnpaidDec. 31,1969

$ -0-

$1,139,834

28

EDUCATION

American Academy in Rome(Italy), New York:Toward support ofPhoto-

Reference CollectionSupport of the expanded programof excavations in the RomanForum.

For support ofthe Rome PrizeFellowships

American Association ofTheological Schools in the UnitedStates and Canada, Inc., Dayton,Ohio:

Support ofthe Association which acts asthe official accrediting agency forgraduate and professional theologicaleducation

American Council ofLearnedSocieties, New York:Toward endowment ofthis

organization which directs itsactivities towards the advance-ment ofhumanistic studies . . 2

American Field Service, Inc.,New York:

For scholarship purposesTo aid in the expansion and

renovation of its headquartersin New York City . . . . I

American School in LondonFoundation, Inc., New York:Toward library constructionprogram constituting part ofnew school building complex

American School of Classical Studiesat Athens, Athens, Greece:Toward cost ofpublishing the

second volume ofa report on theexcavations at Isthnia, nearCorinth

UnpaidJan. 1,1969

Appro-priated

SIO,500 $ -

Paid

UnpaidDec. 31,1969

$IO,500 S -

I0,000 - I0,000

- 45,000 45,000

450,000 I50,000 300,000

50,000 - 250,000

- I00,000 100,000

00,000 - I00,000

- 200,000 200,000

5,000 5,000

EDUCATION (continued)

American Schools ofOrientalResearch, Baltimore, Md.:

For continuation oftheexcavations at Samosata,capital ofAntiochus I ofCommagene, in southeastern

Turkey

Bank Street College ofEducation, New York:Toward cost ofacquiring books

and other educational materialsfor new library

Berea College, Berea, Ky.:

To aid in construction ofnewdormitory facilities

Catalyst, New York:Support of a program to train

college educated women forpart-time teaching .

Center for Information onAmerica, Washington, Conn.:

General program ofdisseminainginformation on importantnational issues.

Clare College, Cambridge, England:To increase the endowment of

Clare Hall.

Commission for the UnitedWorld Colleges, Inc., New York:To provide scholarships to enableAmerican boys to attend theUnited World College oftheAtlantic in South Wales .

Council for Religion in

Independent Schools, New York:Support of the Council which

assists independent preparatoryschools in their religiousprograms

UnpaidJan. 1,1969

Appro-priated Paid

- $5,000 $5,000 $ -

- 50,000 50,000 -

100,000 - I00,000

- 25,000 25,000 -

- 10,000 I0,000 -

- 200,000 200,000 -

- 30,000 30,000 -

2,500 2,500

29

UnpaidDec. 31,1969

30


Council ofHigher EducationalInstitutions in New York City:Toward support ofgraduate

adcmissions assistance center

Dartmouth College, Hanover, N.H.:To endow a Chair in the

Humanities

Duke University, Durbam, N.C.:To enable American teachers and

students to participate inexcavations at Winchester,England

Educational BroadcastingCorporation, New York .

Experiment in International Living,Putney, Vt.:Toward cost ofa new classroom

building for the School forInternational Training

Fund for Theological Education,Inc., Princeton, N.J.:

Support ofTrial Year FellowshipsProgram and its MinisterialRecruitment Programs

Harvard University, Cambridge,Mass.:To assist in construction ofunderground addition toWidenerLibrary.

Support ofthe program ofresearch and development in thearts carried on by the GraduateSchool ofEducation . .

Additional endowment for theCenter for Hellenic Studiesin Washington, D.C. .

Hollins College, Hollins College, Va.:Toward the first year costs ofa new

graduate program in liberal artsfor public school teachers

UnpaidJan. 1,1969

Appro-priated

$25,ooo0 $ -

6oo,ooo

UnpaidDec. 31,

Paid 1969

$25,ooo $-

- 300,000 300,000

- I0,000 I0,000 -

- I00,000 I00,000 -

- 75,000 75,000 -

- 150,000 I50,000 -

150,000 - 150,000

- 35,000 35,000 -

- 1,000,000 I,000,000 -

- I5,000 I5,000

31

EDUCATION (continued)Independent Schools TalentSearch, Boston, Mass.:For support of its ABC-A Better Chance Program

Institute for Advanced Study,Princeton, N.J.:

Support ofProfessor BenjaminMeritt's project on AtticProsopography

Institute for Philosophical Research,Chicago, Ill.:For its research and publicationprogram

Institute of International Education,New York:

General support ofthe Institutewhich promotes interchange ofstudents and cultural programs

Instituto Mexicano Norteamericanode Relaciones Culturales, A.C.,Mexico City, Mexico:To continue program ofguest

lecturers from the UnitedStates

International Student House,Washington, D.C.:Toward the erection ofnew

facilities to enlarge dormitoryspace

Johns Hopkins University,Baltimore, Md.:

For purchase ofbooks and othereducational materials for thelibrary ofthe History ofArtDepartment

Johns Hopkins University, SchoolofAdvanced International Studies,Washington, D.C.:Development Program .

UnpaidJan. 1,1969

Appro-priated Paid

UnpaidDec. 31,1969

- $50,000 $50,000 $ -

- 6,5oo 6,5oo -

- 150,000 I50,000 -

50,000

IO,OOO

20,000

- 25,OOO 25,000

- I0,OOO

- 20,000

IO,OOO - IO,OOO

20,000 - 20,000

32


Long Island University, New York:Toward the support ofarchaeo-

logical excavation at Knidos insouthwestern Turkey

UnpaidJan. 1,1969

Appro-priated

$I5,000 $ -

UnpaidDec. 31,

Paid 1969

$I5,000 $ -

Marlboro College, Marlboro, Vt.:Toward costs ofworking

drawings for new campusbuilding

Mary Baldwin College, Staunton,Va.:

For purchase ofbooks and backfiles ofmagazines in history andbooks in German literature anddrama for its library .

McGill University, Montreal,Canada:

Support ofthe Institute ofIslamicStudies Teheran Branch .

I5,000 - 15,000

5,000

- 25,000 25,000

Mid-Appalachia CollegeCouncil, Inc., Bristol, Tenn.:

Support of Council whichpromotes cooperative effortsamong i2 member colleges .

National Endowment for theHumanities, Washington, D.C.:

For use of the AmericanAcademy in Rome towardsupport ofPhoto-ReferenceCollection.

For use ofThe Associated Collegesofthe Midwest, The NewberryLibrary, to support theNewberry Library Seminar inthe Humanities

For use ofPrinceton UniversityPress toward the preparation ofthe Dictionary ofClassicalArchaeology

- 20,000 20,000 -

4,500 4,500

70,000 I7,500 52,500

25,000 I0,000 35,000 -

5,000

33

EDUCATION (continued)National Gallery of Art,Washington, D.C.:

Fellowships for training ofmuseum curators .

New College, Sarasota, Fla.:For acquisition by the College

library ofbooks and othereducational materials.

New York University:Toward expenses of archaeologicalwork to be carried on atAphrodisias in Caria, Turkey

Institute of Fine Arts:In support ofresearch in theAustralian New GuineaHighlands.

Princeton Theological Seminary,Princeton, N.J.:To continue support of Center for

Continuing Education forministers

Princeton University,Princeton, N.J.:Toward capital needs of

University's Library system .

Queens College ofthe CityUniversity ofNew York,Flushing, N.Y.:Toward support ofthe

publication Computers and theHumanities.

Recording for the Blind, inc.,New York:

For improvement ofequipmentto increase the production oftape-recorded books for theblind.

St. John's College, Annapolis, Md.:Endowment Fund: matching grant

UnpaidJan. 1,1969

Appro-priated

$55,000 $ -

Paid

UnpaidDec. 31,1969

$I9,000 $36,ooo

- 50,000 50,000 -

20,000 - 20,000 -

2,000 2,000 -

25,000

300,000

- 25,000

300,000

5,000 5,000

- 25,000 25,000 -

47_,77- 308,I43 I67,034475,I177

34

EDUCATION (continued)Salzburg Seminar in AmericanStudies, Cambridge, Mass.:

General support ofthe Seminarwhich provides opportunity forEuropeans to learn aboutAmerican institutions

UnpaidJan. 1,1969

Appro-priated

SI0,000 $ -

UnpaidDec. 31,

Paid 1969

$I0,000 $ -

Skowhegan School ofPainting andSculpture, Skowhegan, Me.:Toward its scholarship and

operating fundEndowment Fund: matching grant

Smith College, Northampton,Mass.:Toward cost ofconstruction ofanew building to provide facilitiesfor the Department ofArt andthe Museum ofthe College.

Tougaloo College, Tougaloo, Miss.:To aid in construction ofnew

library .

Trinity College, Hartford, Conn.:Toward a new summer programofstudy in Italian language andcivilization

Tulane University,New Orleans, La.:To aid in construction ofnew

Science Center

Union Settlement Association,New York:

In support of its CollegeReadiness Program forminority group youth S

Union Theological Seminary,Richmond, Va.:To enable the Seminary to acquire

a set ofthe Human RelationsArea microfilm files

- 5,000 5,000 -4,705 - 4,705 -

- 500,000 250,000 250,000

IOO,OOO I00,000 - 200,000

- 5,000 5,000 -

- 100,000 100,000 -

36,ooo 36,ooo

- 10,000 I0,000 -

EDUCATION (continued)University of Connecticut, Storrs,Conn.:

In support ofan Institute inPolitical and Legal Philosophywhich the Council forPhilosophical Studies held forcollege and university teachersofphilosophy.

UnpaidJan. 1,1969

Appro-priated

$25,ooo $ -

Paid

$25,000 $ -

University of Hartford,West Hartford, Conn.:To aid in construction of a new

central university library.

University ofPennsylvania,Philadelphia, Pa.:

In support ofunderwaterarchaeological work beingcarried out under thesponsorship ofthe UniversityMuseum

University of the West Indies,Jamaica, W.I.:Toward the initial program costsofthe University's Creative ArtsCenter .

Virginia Fellowship Programin the Humanities:

Fellowships for selected teachersand administrators from Virginiapublic high schools for study inthe humanities at the Universityof Virginia and Yale University

To University of VirginiaTo Yale University

Virginia Foundation for IndependentColleges, Lynchburg, Va.:To support program for develop-ment of financial aid from thebusiness community for itsmember colleges.

I00,000 - I00,000

- 5,000 5,000 -

- 35,000 35,000 -

66,000 75,000 75,000

39,000 -

27,000 -

- 250,000

35

UnpaidDec. 31,1969

-250,000

36

EDUCATION (continued)Woodrow Wilson National Fellow-ship Foundation, Princeton, N.J.:

For support ofthe First YearGraduate Fellowship program

Yale University, New Haven, Conn.:Exchange Fellowships with Clare

College, Cambridge, EnglandTo endow a professorship in honorofthe late William C. DeVane,formerly Dean ofthe College

Program support for Pennsylvania-Yale Archaeological Expeditionto Egypt

Total-Education

UnpaidJan. 1,1969

Appro-priated Paid

UnpaidDec. 31,1969

$I50,000 $150,000 $ -

84,8IS - 39,650 45,J65

750,000 750,000

25,000

$4,93 I,0002S,000

$5,796,998$2,72,4697 Si,855,699

I50,000 50,000 I00,000

200,000 - 200,000

37

HEALTH AND MEDICINEEducation in the Health Sciences

Anna Freud Foundation, New York:Support of the training program

for child therapists at TheHempstead Child-TherapyCourse and Clinic, London,England

Boston University SchoolofMedicine, Boston, Mass.:

Support ofprogram to strengthenthe faculty.

Duke University Medical Center,School of Nursing, Durham, N.C.:Toward cost ofconstruction ofnew classroom facility for itsSchool ofNursing

Erikson Institute for EarlyEducation, Chicago, Ill.:

For general support ofthis trainingcenter for teachers ofpre-schoofchildren

Harvard University, School ofPublic Health, Boston, Mass.:To aid in construction of

educational facilities buildingMeharry Medical College,Nashville, Tenn.:Toward program of strengthening

the faculty.Mount Sinai College ofMedicine,New York:Toward construction ofnew

four-year medical school

National Commission for the StudyofNursing Education, Inc.,Rochester, N.Y.:To aid in financing a study of

nursing education in theUnited States.

UnpaidJan. 1,1969

Appro-priated

$40,000 $ -

I50,000

Paid

UnpaidDec. 31,1969

$40,000 $ -

- 50,000 I00,000

200,000 - 200,000

- ,°000 5,000 -

- 250,000 - 250,000

20,000 - 20,000 -

38

HEALTH AND MEDICINE

Education in the Health Sciences*(continued)

National Medical Fellowships, Inc.,Downers Grove, Ill.:

Support of scholarship programfor black students seekingmedical careers

New York Institute for theEducation ofthe Blind, New York:Toward construction of

Diagnostic Clinic andEducational Treatment Center

Syracuse University, Syracuse, N.Y.:Toward construction ofnew

School ofNursing

University ofPennsylvania, SchoolofDental Medicine, Philadelphia, Pa.:Toward construction of Oral

Health Sciences Building

UnpaidJan. 1,1969

Appro-priated Paid

UnpaidDec. 31,1969

- $100,000 $I00,000 $ -

- 200,000 - 200,000

I00,000 _ - I00,000

- 100,000 100,000

Washington School ofPsychiatry,Washington, D.C.:To provide scholarships forworkshops and conferenceson group relations held inthe summer of i969 . . . . - 5,000 5,000

Subtotal $66o,ooo $860o,ooo $370,000 $I,I50,000

Other Grantsfor Health and MedicineAffiliated Hospitals Center, Inc.,Boston, Mass.:To aid in the construction ofa

proposed new unified hospitaland medical facility . . . . $-

American Friends ServiceCommittee, Inc., Philadelphia, Pa.:

Support offamily planningprogram in Latin America

$500,000 $ -

I75,000 I75,000

$500,ooo

HEALTH AND MEDICINE

Other Grantsfor Health and Medicine(continued)

Blood Research Institute, Inc.,Boston, Mass.:Toward cost ofacquisition and

renovation ofbuilding to housethe Institute

Boone Memorial Hospital,Madison, W. Va.:To assist in building an addition

to the Hospital

Brother's Brother Foundation,Pittsburgh, Pa.:

Support of its program ofmass inmmunization campaignsin Latin America.

Cancer Care, Inc., New York:To assist in establishing an office

in Nassau CountyGeneral support .

Children's Hospital ofPhiladelphia,Philadelphia, Pa.:To aid in construction ofnew

Center, jointly planned withPhiladelphia Child GuidanceClinic

Community Hospital at Glen Cove,Glen Cove, N.Y.

Crotched Mountain Foundation,Greenfield, N.H.:Toward capital projects' costs of

Foundation which operates arehabilitation center for crippledand disabled children and adults

Empire State Medical, Scientific andEducational Foundation,Syracuse, N.Y.:

Study of physician shortagein rural New York State.

UnpaidJan. 1,1969

Appro-priated Paid

- $100,000 $I00,000 $ -

5,000 5,000 10,000 -

- 20,000 20,000 -

75,000 - 75,000 -

- 5,000 5,000

100,000 - 100,000

- 2,000 2,000 -

75,000 - 75,000 -

- 25,000

39

UnpaidDec. 31,1969

25,000

40

HEALTH AND MEDICINE


Health Research, Inc., Buffalo, N.Y.:Toward construction ofcancer

drug center at the RoswellPark Memorial Institute .

UnpaidJan. 1,1969

Appro-priated Paid

UnpaidDec. 31,1969

$200,000 $ - $200,000

Knickerbocker Hospital, New York. - I00,000 - I00,000

Manhattan Eye, Ear and ThroatHospital, New York:Toward constructionofnew building

Margaret Sanger Research Bureau,New York:

Support ofBureau whichprovides training, research andpatient services in the birthcontrol field

Memorial Sloan-Kettering CancerCenter, New York:

Building FundFor needy patient care

Menninger Foundation,Topeka, Kan.:To aid in the construction ofthe

children's clinic building adjacentto its Children's Hospital

Musicians' Emergency Fund, Inc.,New York:

Support of its music therapyprogram for the hospitalized

National Association for MentalHealth, Inc., New York:Toward support ofa national

conference to accelerate andimprove the recruitment andtraining of personnel formental health programs .

I50,000 - Is50,000

- 25,000 2S,000

250,000I0,000 I0,000

250,000

- 250,000 - 250,000

- 2,500 2,500 -

- 25,000 25,000

41

HEALTH AND MEDICINE


National Council on Alcoholism,Inc., New York:Toward establishment ofaprogram information servicesdepartment

New York Heart Association.

New York Infirmary.

New York University MedicalCenter, Institute ofRehabilitationMedicine:

For support ofresearch activitiesin hypertension and stroke

Oyster Bay Visiting NurseAssociation, Oyster Bay, N.Y.

Planned Parenthood Federation ofAmerica, Inc., New York:

In support ofthe national programsofPlanned Parenthood-WorldPopulation and the programsofthe International PlannedParenthood Federation

For continuing support of itsprogram in the southeasternstates

Planned Parenthood ofNew YorkCity, Inc.:Toward expansion of its clinic

in the Bronx

Population Council, New York:In support ofthe Council which

serves as a clearing house forinformation in the field ofpopulation studies

Roosevelt Hospital, New York:Medical treatment

for needy persons.

UnpaidJan. 1,1969

Appro-priated Paid

UnpaidDec. 31,1969

i- $So,ooo $25,ooo $25,000

- 7,500 7,500 -

- I1,000 1,000 -

- I50,000 50,000 I00,000

- 500 500 -

50,000 - 50,000 -

- I00,000 I00,000 -

- 8o,ooo 8o,ooo -

- 300,000 I50,000 I50,000

- 20,000 20,000 -

42

HEALTH AND MEDICINE


St. Luke's Hospital Center-Woman's Hospital, New York

St. Vincent's Hospital andMedical Center, New York:Toward construction ofnew

facility for its School ofNursing

UnpaidJan. 1,1969

Appro-priated

- 200,000

Paid

UnpaidDec. 31,1969

Salk Institute for Biological Studies,San Diego, Cal.:To aid in equipping new

laboratories ofthe Institute

Southampton Hospital Association,Southampton, N.Y.

United Hospital Fund ofNew York:Support ofprogram ofgiving aid

to its member hospitals

Virginia Council on Health andMedical Care, Richmond, Va.:

Support of its Health CareersProgram

Visiting Nurse Service ofNew York:Support ofprogram to provide

nursing care and health aideservices in the home .

World Rehabilitation Fund, Inc.,New York:

Support of training program andother activities in physicalrehabilitation

SubtotalTotal-Health and Medicine

- 250,000 250,000 -

- 2,000 2,000 -

- I0,000 10,000 -

- 15,000 I5,000 -

- I0,000 I0,000 -

50,000

$ 780,ooo

$I,440,000

$2,620,500

- $3,480,500

25,000

$I,450,500

$I,820,500

$5,ooo $5,oo $ -

- 200,000

25,000

$I,950,000

$3,100,000

43

YOUTH PROGRAMSBerkshire Farm for Boys,New York:Toward construction ofnew

cottages at Farm whichprovides care and trainingfor delinquent boys

Big Brothers, Inc., New York:To assist in the operationofa residential centerin New York City.

Big Sisters, Inc., New York

Boy Scouts ofAmerica-Greater New York Councils

UnpaidJan. 1,1969

Appro-priated Paid

UnpaidDec. 31,1969

$75,000 $75,ooo $ -

30,000 15,000 I5,000

7,500

3,000

Boys Brotherhood RepublicofNew York, Inc.:

Support of the programsofBoys Brotherhood, aLower East Side boys' club

Boys' Club ofNew York:Support ofeducational program

for selecting boys forsecondary school and collegescholarship awards. .

Generalsupport.

7,500

25,000I,000

7,500 -

3,000 -

7,500 -

25,000 -

I,000 -

Children's Aid Society,New York:To aid in establishment of

Family Service Center inEast Harlem

Child Adoption Service .37,500 _- 5,000

37,500 -5,o000

Christian Herald Children'sHome, Inc., New York:To aid in strengthening its inner

cityprogram. 30,000 30,000

44

YOUTH PROGRAMS (continued)

Columbia University, UrbanCenter, New York:

Support of Sports Foundation,Inc., which sponsorsrecreational programs foryouth, educational guidanceandjob training

Family and Child Services ofWashington, D.C., Washington,D.C.:Toward developing camping

facilities at Moss Hollow,Markham, Va. .

Fresh Air Fund, New York:Support of Fund's vacationprogram for New York Citychildren .

UnpaidJan. 1,1969

Appro-priated Paid

$5,000 $5,000 $-

- I00,000 100,000 -

2,500

Girl Scout Council of GreaterNew York, Inc. . 3,000

Girls Clubs ofAmerica, Inc.,New York:

Support ofthe organization'sexpanding activities in thedevelopment oflocal clubs

2,So

3,000

75,000 25,000 50,000

Madison Square Boys' Club, Inc.,New York:To aid in construction ofnew

facility in the Bronx 50,000 - 50,000 -

New York City Mission Society:Support of its religious and

social service programs foryouth in deprived areas ofNew York . 7,500

UnpaidDec. 31,1969

7,500

45

UnpaidJan. 1,

YOUTH PROGRAMS (continued) 1969

Northside Center for ChildDevelopment, Inc., New York:

Support of the Center whichoperates a mental healthoutpatient clinic for childrenin Harlem . . . . . . $Is,ooo

Orphan Asylum Society in theCity ofNew York (GrahamHome for Children),Hastings-on-Hudson, N.Y.:

Capital funds drive

Police Athletic League, Inc.,New York:

Support for its youth-serving activities

Vocational Advisory Service,Inc., New York:

Support of its vocationalcounseling and educationalprograms

Vocational Foundation, Inc.,New York:

Support of itsjob placementservice for young people withcorrectional background .

Wiltwyck School for Boys,Incorporated, Yorktown Heights,N.Y.:Toward support of its out-

patient clinic.

Youth Consultation Service ofthe Diocese ofNew York, Inc.:Toward support ofDana House,

a home for unwed mothers

Appro-priated Paid

UnpaidDec. 31,1969

$I5,000 $ -

- 50,000 50,000 -

I,000 I,000 -

5,000 5,000 -

3,500 3,500

20,000 I0,000 10,000

2,000 -2,000

46

Unpaid UnpaidJan. 1, Appro- Dec. 31,

YOUTH PROGRAMS (continued) 1969 priated Paid 1969

Youth Development, Inc.,New York:Toward the purchase ofbuilding

to house its activities, whichinclude providing education,job training, recreation andleadership for youths in EastHarlem.$...... $ - $ 50,000 $ 50,000 $ -

Total-Youth Programs $ I02,500 $ 5o8,500 $ 536,ooo $ 75,000

Grand Totals $5,738,537 $II,925,270 $II,4I3,274 $6,250,533

Table IIIFinancial Statements

49

PRICE WATERHOUSE & CO.6o Broad Street

New York I0004April I0, I970

To the Board ofTrustees ofThe Andrew W. Mellon Foundation

We have examined the statement of assets and principal resulting from cash trans-actions and contributions received ofThe AndrewW. Mellon Foundation as ofDecember31, I969 and the related statements ofincome collected, expenses disbursed and changes inprincipal account for the year and the schedule ofinvestments at December 3I, I969. Ourexamination of these statements was made in accordance with generally accepted auditingstandards and accordingly included such tests of the accounting records and such otherauditing procedures as we considered necessary in the circumstances, including con-firmation ofthe cash and securities owned at December 3I, I969 by correspondence withdepositaries.

As more fully described in the note, the accompanying statements are presented onthe cash basis ofaccounting and include the combined accounts ofAvalon Foundation andOld Dominion Foundation which were consolidated as ofJune 30, I969 and operate underthe name ofThe Andrew W. Mellon Foundation.

In our opinion, the accompanying statements examined by us present fairly, on thebasis mentioned above which is consistent with that ofthe preceding year, the assets andprincipal of The Andrew W. Mellon Foundation at December 31, I969 resulting fromcash transactions and contributions received, and the income collected, expenses disbursedand changes in principal account for the year and the supplementary information oninvestments.

PRICE WATERHOUSE & CO.


Statement ofAssets and Principal ResultingfromCash Transactions and Contributions ReceivedDecember 31, 1969(Note)

AssetsInvestments, at fair value at dates ofacquisition as determined by the

Trustees or at cost:Bonds and notes, less premium amortization:United StatesGovernment.Corporate and other.Commercial paper

Stocks

Cas]Inte

. $ 23,247,34455,782,o728,037,756

I29,5I3.904

Total securities (approximate market value of $230,095,000) 2I6,58I,076Interest in West Virginia coal properties . . . . . . . . . I,426,8I5

Total investments 2I8,007,89I1,OI6,582

rest purchased and otherreceivables... . 27,I98Office building, office fumiture and equipment, at cost,

less accumulated depreciation of$i6,8I7Land, Washington, D.C., atcost.

PrincipalAppropriated for unpaid grants, payable in I970 and later years .

Unappropriated balance .

5o

760,568311,952

$220,31I4,I91

. $ 6,250,533214,063,658

$220,3 I4,19I

51


Statement ofIncome Collected and Expenses DisbursedCalendar Year 1969(Note)Income:Dividends.Interest on bonds, notes and bills,

less amortization ofpremiums of $II,723:United States Government.Commercial paper, corporate and other

Net income from West Virginia coal properties

Expenses:Salaries and provision for employees' pensions .Professional, consulting and other feesOther administrative and office expenses

including maintenance and depreciation of office building

Excess ofincome over expenses.

$ 6,I76,I89

I,338,3I53,599,7895o5,i26

I I,6I9,4I9

429,3I52I7,645

96,838743,798

. $Io,875,62I

52


Statement ofChanges in Principal AccountCalendar Year 1969(Note)Balance atJanuary I, i969...... . .. . .. . . $228,037,840

Increase:Excess ofincome over expenses, per attached statementGain on sale ofoffice building, furniture and equipment

at 7I3 Park Avenue, New York, New YorkGift ofcash.

Decrease:Grants paid during the year .

Net loss on sales of securities

Balance at December 3I, I969

. . . Io,87s,62I

4I9,0I550,000

II,344,636

I I,4I3,2747,655,011

Ig,o68,285Net decrease in principal 7,723,649

.. . $220,3 14,I9I

NOTE TO STATEMENTS DECEMBER 3I, I969

Effective June 30, I969, Old Dominion Foundation was merged into Avalon Foun-dation and the name ofthe latter was changed to The Andrew W. Mellon Foundation. Theaccompanying statements indude the combined accounts of the Foundations for the entireyear I969.

The accounts ofthe Foundation are maintained on the cash basis ofaccounting exceptthat interest purchased and other receivables and depreciation expense are recorded in theaccounts. Accrued investment income not recorded totaled approximately $I,467,ooo and$I,390,000 at December 31, I969 and I968, respectively. Such investment income notrecordedby thepredecessor foundations in prior years was not considered material in amount.

The Foundation has remainder interests in certain trusts established by the late AilsaMellon Bruce during her lifetime and is the residuary legatee under her will. It is expectedthat pursuant to these instruments substantial distributions will be received by the Foundationduring the current year.

53


Investment SecuritiesDecember 31, 1969

Bonds and NotesUnited States Government:

U.S. Treasury Bonds and Notes:5¼4%, May I5, I97I4%, August I5, I97I4%, FebruarY 5, I972 .4%, August IS,I973.4Y8%, November I5, I973.4%%, Febru I 5, 1974 .3%%, November I5, I974.

Total-U.S. Treasury Bonds and Notes

United States Government Agencies:Federal National Mortgage Assn.:4%Y% Certificates due September I0, I9704%4% Certificates due September I0, I97I4.70% Certificates due December I, I9765.30% Certificates due April I, I980 .

4.70% Certificates due December I, I9805%% Cerdficates dueJune 23, I98I

Total-U.S. Govemment Agencies.Total-U.S. Government

.$i,ooo,ooo $I,ooo,8021,350,000 1,352,898

. 3,000,000 3,006,6I6

. 2,000,000 I,978,8I0* 4,500,000 4,476,73 I. 3,000,000 2,988,228. 2,500,000 2,462,562

I7,266,647

I,000,000 I,000,260I,000,000 I,005,667*I500,000 I,474,770I,000,000 I,000,000500,000 500,000

I,000,000 I,000,000

.5,980,69723,247,344

Commercial Paper:C.I.T. Financal Corp. 8%%,January 7, I970 . I,000,000 I,000,000C.I.T. Financial Corp. 9%, January 27, I970 . 1,000,000 I,000,000Commercial Credit Corp. 9%,January I2, I970. I,500,000 1,500,000Ford Motor Credit Corp.8%%, January I9, 1970. I,000,000 I,000,000

Ford Motor Credit Corp.8%%,January27, I970. I,000,000 I,000,000

General Motors Acceptance Corporation,9%,January I2, I970 . 800,000 797,600

May Department Stores,8%%,January 7, I970. 750,000 740,I56

Westinghouse Credit Corporation,83A%,January I2, I970. I,000,000 I,000,000

Total-Commercial Paper ..8,037,756

Principal ApproximateAmount Book Value Market Value

$ 962,187I,264,78I2,745,000I,727,500

3,879,8442,564,0622,07I,875

15,2I5,249

967,500927,500

I,209,375

790,000370,000780,000

5,044,37520,259,624

I,000,0001,000,000I,500,000

I,000,000

1,000,000

797,600

740,I56

I,000,000

8,037,756

54

Principal ApproximateBONDS AND NOTES (continued) Amount Book Value Market ValueCorporate and other:Public Utility:American Telephone & TelegraphCompany, 5%%, I995 .,750,000 I,542,275 I,266,562

American Telephone & TelegraphCompany, 5Y2%,1997. 750,000 722,455 531,375

Bell Telephone Company of Canada,4.85%, I995 500,000 500,000 278,750

Bell Telephone Company of Canada,6.90%, I998.250,000 250,000 I85,625

Columbia Gas System, Inc., 4%%, I989 . 500,000 500,000 309,450Columbia Gas System, Inc., 6Y4%, I99I . 250,000 25i,637 I84,900Commonwealth Edison Company,6¼4%, I998 .2,000,000 I,7I8,320 I,539,000

Commonwealth Edison Company,3%,I977. I50,000 I48,500 I05,060

Consolidated Edison Company, 5%, i996 . I,000,000 I,006,743 624,900Consumers Power Company, 5%%, i996 . i,ooo,ooo 87I,635 74i,800Consumers Power Company, 6%%, i998 . I,200,000 I,05I,200 964,920Dayton Power & Light Company,5%%, I997 500,000 490,437 358,450

Detroit Edison Company, 3¼Y4%, I980 . 250,000 251,573 I58,225Duke Power Company, 8%, I999 . . I,000,000 1,004,9I7 946,100Duke Power Company, 6%%, I998 . . 2,250,000 I,989,445 I,76i,525Georgia Power Company, 53/4%, I996 . 227,000 223,595 I59,876Georgia Power Company, 6%%, i998 . i,ooo,ooo 886,450 786,600Idaho Power Company, 6Y8%, i996 . . 250,000 249,375 I83,625Illinois Bell Telephone Company, 6%, i998* 750,000 6I7,932 559,500Illinois Power Company, 5.85%, i996 . 375,000 375,000 275,362Michigan Bell Telephone Company,6%%,2005. I,500,000 I,367,100 i,j58,600

Mountain States Telephone & TelegraphCompany, 6%,2007. I,000,000 822,900 73i,600

Mountain States Telephone & TelegraphCompany, 8%, 2009. I,OOO,OOO 976,875 943,300

New England Telephone & TelegraphCompany, 6¼s%, 2006 .1,000,000 768,775 742,400

Niagara Mohawk Power Corp., 5%%, i996. 500,000 502,5I6 356,200Northern States Power Co., 8%, I999 . I,000,000 96I,680 936,oooNorthwestern Bell Telephone Co.,

6y4%, 2007 .250,000 250,000 i89,o5oOhio Edison Company, 8¼4%, I999 . . I,OO,00 i,oig,667 957,500Pacific Gas & Electric Co., 5%%, I998 . 250,000 246,250 i69,675Pacific Telephone & Telegraph Company,

6Y2%, 2003 .1,000,000 834,188 783,700Pacific Telephone & Telegraph Company,6%, 2002.1,500,000 1,4I5,44I I,06,700

55

Principal ApproximateBONDS AND NOTES (continued) Amount Book Value Market Value

Philadelphia Electric Company, 618%, I997. 2,250,000 I,882,550 i,693,350Public Service Co. of Colorado, 5%%, I996. 500,000 500,000 342,600Public Service Electric & Gas Company,4%%, I983.. . . . . . . . 242,000 245,34I I63,93 I

Public Service Electric & Gas Company,6 14%,I997 .500,000 4I7,480 38I,200

San Diego Gas & Electric Company,7%, I998.I,000,000 910,000 825,800

Southern Bell Telephone & TelegraphCompany, 6%, 2004. 500,000 455,502 367,500

Southem California Edison Co., 7%s%, I994. 500,000 463,420 425,600Southern California Edison Co., 6%8%, I99I. 250,000 245,625 I92,750Southern Califomia Edison Co., 5%%, I992. 500,000 50I,12I 373,650Southern Counties Gas Company,434%, 1990 .250,000 248,200 I54,550

Southwestern Bell Telephone & TelegraphCompany, 5%%,2003 .,500,000 I,92,500 I,090,800

Southwestern Bell Telephone & TelegraphCompany, 8¼4%, 2005 .1,000,000 I,OI2,563 96I,300

Southwestern Bell Telephone & TelegraphCompany, 5%%,2006 .500,000 489,375 322,500

Union Electric Company, 81/4%,1999 . I,000,000 1,014,750 957,500

Total-Public Utilities .33,395,308 28,249,36I

Industrial and other:Aluminum Co. of America, 6%, I992 . . 250,000 247,8I3 I92,500American Tobacco Co., 5%%, 1992 . . . 250,000 247,500 i86,250Anaconda Corporation, 6%%, I993 . . . 250,000 248,750 207,500Associates Investment Company, 4%%, I984 250,000 247,500 I52,500Atlantic Coast Line Railroad, 4%%, I977 . 250,000 244,858 I87,675Atlantic Coast Line Railroad, 4%%, 1978 . 250,000 244,540 I82,075Beneficial Finance Company, 434%, I993 . 500,000 500,000 29I,875Bethlehem Steel Corporation, 5.40%, I992 . 325,000 325,000 234,000Caterpillar Tractor Company, 5.30%, I992 . I,000,000 873,100 720,000C.I.T. Financial Corporation, 4½2%, I984 * 550,000 546,315 351,3I2C.I.T. Financial Corporation, 4%%, I989 . 500,000 496,250 30I,250Corn Products Company, 534%, 1992 . . 250,000 248,750 I87,500Deere & Company, 5.40%, I992 . . . . 500,000 500,000 347,500Dow Chemical Company, 6.70%, I998 . . 470,000 470,000 390,100Fidelity Bank, 6Y8%,I992. 250,000 248,I25 I83,125General Aniline and Film Corp., 5%%, I99I 500,000 501,214 372,500General Motors Acceptance Corp.,4%%, I986 .500,000 498,750 325,000

General Motors Acceptance Corp.,718%, I990 .500,000 496,250 430,000

PrincipalBONDS AND NOTES (continued) Amount

Goverment of Canlada, 6%%, i988 . . . i,ooo,oooGulf Oil Corporation, 6%%, 993 . . 500,000Hanna Mining Company, 434%, I990 . 289,200Household Finance Corporation, 7M%, I990 500,000International Bank for Reconstruction andDevelopment, 6%%, I994. . 250,000

International Harvester Co., 4%%, I988 . . 85,400International Harvester Co., 4.80%, I99I . 37,1OOInternational Nickel Company, 6.85%, I993 750,000Marine Midland Corporation, 4Y2%, I989 . I50,000J. C. Penney Credit Corp., 4Y2%, I984 * * 500,000Pittsburgh Plate Glass Co., 5%%, I99I * 500,000Province of Ontario, 8%%, i999 . . . . I,OOO,OOOSears Roebuck & Company, 6%%, I993. . 500,000Sherwin Williams Company, 5.45%, I992 . 460,000Southern Railway Company, 4%%, I988 . 246,oooStandard Oil Co. of California, 5%%, I992 . 2,000,000Standard Oil Co. of Indiana, 6%, I998 . . i,ooo,oooStandard Oil Co. ofNewJersey, 6%, 1997 . I,250,000Standard Oil Co. ofNewJersey, 6Y2%, I998 500,000Texaco, Inc., 54%, I997.. 750,000Union Bank (Los Angeles), 4%%, I988 . . 500,000Virginian Railway, 6%, 2008 . .. . . 500,000Wachovia Bank and Trust Company,4.60%, I990 . .500,000

Wells Fargo Bank, 4Y2%, I989 . . . . 500,000Westinghouse Electric Corporation,5%%, I992. 500,000

Weyerhaeuser Company, 5.20%, I99I . . I,OO0,OOOTotal-Industrials and others .

Total-Corporate andOther.

ApproximateBook Value Market Value

938,125500,000279,80I442,385

248,I257I,73635,106

749,375I47,780495,625500,000982,586500,000460,000246,000

I,798,50o952,570

1,I62,635500,000

748,750500,000442,950

830,000425,000I88,34I4I 5,000

I95,31256,36425,042

630,00093,562340,000367,500900,000

4I5,000329,820I52,827

I,543,600782,500

1,012,500425,000570,000305,625350,000

500,000 305,625500,000 295,625

500,000 360,000I,OOO,OOO 7I0,OOO

22,3 86,764 17,266,905

55,782,072 45,5I6,266

57

Common Stocks ApproximateShares Book Value Market Value

Aerospace:Lockheed Aircraft Corporation

Aluminum:Aluminum Company ofAmerica

Automobile:Chrysler Corporation.Ford Motor CompanyGeneral Motors Corporation.

Banks:BankAmerica CorporationChase Manhattan CorporationCitizens and Southern National BankFirst National Bank ofBostonSoutheast Bancorporation

Building Materials:National Gypsum Company .U.S. GypsumCompany.

Chemicals:Allied Chemical CorporationE. I. duPont de Nemours Company .Koppers CompanyMonsanto CompanyUnion Carbide Corporation.

Drugs:Bristol Myers CompanyMerck & CompanySchering Corporation.Upjohn Company.Warner Lambert Pharmaceutical Company

Electrical and Electronic:General Electric CompanyHewlett Packard CompanyMotorola, IncorporatedSperry Rand CorporationTexas Instruments, Inc.

I0,000 542,i88

35,OO 2,I74,I21

48,227 I,820,86239,786 I,333,82673,424 3,069,410

6,224,098

59,880 2,764,903I5,000 576,56832,2I0 45I,2857,500 470,6874,000 117,775

4,381,2I8

24,738 54I,35825,000 i,854,624

2,395,982

57,9I8 2,507,95I4,300 669,256

3 I,200 562,70044,863 2,274,55047,000 2,568,775

8,583,232

I0,000 774,35112,I00 1,002,872I6,ooo I70,854I0,000 404,I378,ooo 298,295

2,650,509

20,000 1,388,205I0,000 370,23I6,ooo 674,079

32,000 1,410,846IO,100 i,i62,844

5,oo6,205

I72,500

2,500,875

i,657,8031,636,I995,075,4348,369,436

3,862,260780,00090I,880502,500240,000

6,286,640

58i,343I,506,2502,o87,593

1,41 I,75 I

45I,5001,209,000I,63 I,8921,739,0006,443,143

750,0001,367,300928,000532,500564,ooo

4,14I,800

1,550,000I,030,0008II,500

I,I 88,oooI,259,975

5,839,475

COMMON STO CKS (continued)Finance:

C.I.T. Financial Corporation .Standard Car Finance Corporation

Foods:CPC International, Inc.General Foods Corporation

Insurance:Capital Holding CorporationConnecticut General Insurance Corp.General Reinsurance Corp.

Machinery:Caterpillar Tractor Company

Office Equipment:International Business Machines Corp.Xerox Corporation.

Oil:Continental Oil Company.Getty OilCompany.Gulf Oil Corporation .Texaco, Inc.

Paper:International Paper CompanyKimberly-Clark CorporationMead Corporation. .

Union Camp CorporationWeyerhaeuser Company .

Photography:Eastman Kodak CompanyPolaroid Corporation .

6o,000 2,I07,190I64 -0-

2,I07,I90

i8,ooo 836,606IO,700 807,102

I,643,708

27,500 564,35045,000 I,948,1I64,500 698,549

3,2II,OI i

I5,000 34I,658

25,722 I,773,721I2,000 I,054,257

2,827,978

24,260 789,360500 46,562

I,643,585 40,195,6376,694 i95,264

41,226,823

32,300 992,162I0,000 683,78850,000 1, I I7,90054,000 I,104,82330,000 792,68I

4,691,354

36,800 1,756,6806,ooo 721,264

2,477,944

ApproximateShares Book Value Market Value

2,100,0004,100

2,104,100

567,000889,438

1,456,438

605,ooo3,I6I,250I,327,500

5,093,750

637,500

9,375,669I,269,ooo

Io,644,669

642,89024,000

50,951,135205,004

5I,823,029

I,199,I37792,500

I,03 I,250I,667,250I,2I 5,000

5,905,137

3,03 I,400750,000

3,78i,400

COMMON STOCKS (continued)Railroads:Norfolk & Western Railway.Penn Central Company

Retail:Allied Stores Corporation

Rubber:B. F. Goodrich Company.

Steel:Armco Steel Corporation.National Steel Corporation .

Utilities:American Electric Power Co.American Telephone & Telegraph Co.Baltimore Gas & Electric Co..Central & Southwest CorporationCommonwealth Edison CompanyConsolidated Natural Gas Co.Delinarva Power & Light CompanyGeneral Public Utilities Corp.Gulf States Utilities CompanyHouston Lighting & Power Co..Middle South Utilities, Inc.Northern Illinois Gas Company.Northern Indiana Public Service Co.Northern Natural Gas Co.Public Service Co. of ColoradoSouthern California Edison Co.Southern CompanyTexas Gas Transmission Company

Miscellaneous:American Hospital Supply CompanyColumbia Broadcasting System, Inc.Corning Glass Works.Dun & Bradstreet, Inc.Gillette Company.Hanna Mining Company.

I0,000 I,I18,23I8,ooo 587,2i6

I,705,447

27,4S0 86I,I99

54,000 2,146,830

53,600 I,472,06420,000 1,I36,656

2,608,720

38,17450,000

40,o60I0,000I3,00068,ooo56,2I4

15,000

54,0005,000

50,00014,25045,60025,00029,92527,03233,000I 5,000

2I,000

7,7452,000

i 8,oooI0,00035,948

1,479,I00

3,057,593I,I66,077

479,525692,879

I,953,033

1,494,145

530,105I,060,6I92I2,828

I,I65,509

543,3671,486,497I,248,514837,235606,882825,317

492,677

19,33 I,902

3I4,184

522,932473,224744,3 I2

572,393805,2I8

59

ApproximateShares Book Value Market Value

773,750226,000

999,750

785,756

1I,768,500

1,534,300825,000

2,359,300

1,149,9922,431,250I,25i,875402,500487,500

1,751,000i,o68,o66360,ooo

I,I8I,250I97,500

I,087,500402,563

1I,254,0001,025,00056I,0948I4,339841,500506,250

I6,773,179

947,625378,537509,000

I,053,000525,000

1,491,842

6o

COMMON STOCKS (contnued)Approximate

Shares Book Value Market Value

Lubrizol Corporation. i6,ooo 635,376 I,000,000McDermott (J. Ray) & Company . . . 6,787 239,855 359,7IIMinnesota Mining & Manufacturing Co. . 25,000 I,448,029 2,740,625National Lead Company.82,000 2,64I,084 2,070,500Owens Corning FiberglasCorp. 9,000 670,839 785,250Rank Organization, ADR .65,ooo 1,032,060 I,I05,000Sybron Corporation. I5,000 504,707 58I,250Trans Union Corporation .8o,ooo I,770,370 2,760,000

I2,374,583 I6,307,340

Total-Common Stocks. $I29,5I3,904 $I56,28I,3I0

Documents

TheAndrew W. Mellon Foundation Report 1969 · 2018. 10. 26. · TheAndrewW.MellonFoundation Report fromJanuary1, 1969 throughDecember31,1969 140East 62ndStreet, NewYork, NewYork 10021