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As the 1960s drew to a close, so did the presidency of Frederick B. Adams Jr. Under his leadership, the Society completed a successful campaign that helped finance major capital renovations; the Society's board was restructured and the Society's first female trustee was elected; the Society adopted a total return ap­proach to the spending of investment proceeds from endowment; and the Pintard Fellows were established. In addition, the Society's renovated exhibition spaces and expanded emphasis on public programs positioned it to serve a larger con­stituency than it ever had before.

Not all the news had been good, however; the latter part of Adams's tenure exhibited a shift away from the careful stewardship that characterized his early years. Whereas Adams had shown great caution in 1963, warning the Society of impending budget problems and urging a capital campaign even as the Society was running surpluses, he and the board did not anticipate or respond to the financial difficulties of the late 1960s. There is no mention of financial concern in the remaining reports of the period; in fact, it was not until 1970, after the Society suffered its first operating deficit in many years, that Adams sounded the alarm. That was the first year that the Society's total return investment policy and 5 percent spending rule did not provide sufficient income to cover expenditures. As he turned over the presidency to Robert G. Goelet, Adams warned that "the prospect for 1971 and beyond is not cheerful; we shall have to draw heavily on our carefully husbanded Reserve Fund balance to make up operating deficits."

Formula for disaster: dramatic change outside, status quo inside, 1971-1982

The 1970s proved to be an extraordinarily difficult decade for all cultural insti­tutions, especially those that depended on endowment for much of their income. The "stagflation" of that period affected these institutions negatively in terms of both revenues and expenses. On the revenue side, the recessionary economy that prevailed during the early 1970s reduced the return on these institutions' investments, driving down total income. In 1973 and 1974, for example, the annual total return for domestic common stocks was -14.8 percent and -26.4 per­cent, respectively.

Kennedy and Schneider (1994, p. 19).
As for expenses, inflationary pressure from the oil crisis, among other things, drove up the cost of operations during the same period.

The Society's ability to meet the challenges was constrained. First, the capi­tal improvements and renovations had reduced the Society's unrestricted reserves, inhibiting its financial flexibility. Second, and equally important, the Society con­tinued to move aggressively to expand its services to a rapidly growing public constituency just as the financial noose was tightening. As had happened at other times in the Society's history, the expansion of services (and the concomitant growth in expenditures) was not matched by a comparable growth in existing rev­enue or by the identification of new sources of revenue.

Questions & Answers

find the 15th term of the geometric sequince whose first is 18 and last term of 387
Jerwin Reply
The given of f(x=x-2. then what is the value of this f(3) 5f(x+1)
virgelyn Reply
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Abhi
how do they get the third part x = (32)5/4
kinnecy Reply
can someone help me with some logarithmic and exponential equations.
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ninjadapaul
20/(×-6^2)
Salomon
okay, so you have 6 raised to the power of 2. what is that part of your answer
ninjadapaul
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ninjadapaul
it think it's written 20/(X-6)^2 so it's 20 divided by X-6 squared
Salomon
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Salomon
I got X =-6
Salomon
ok. so take the square root of both sides, now you have plus or minus the square root of 20= x-6
ninjadapaul
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ninjadapaul
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ninjadapaul
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Abhi
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Abhi
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Abhi
Commplementary angles
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Uday
what is a good calculator for all algebra; would a Casio fx 260 work with all algebra equations? please name the cheapest, thanks.
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a perfect square v²+2v+_
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algebra 2 Inequalities:If equation 2 = 0 it is an open set?
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or infinite solutions?
Kim
The answer is neither. The function, 2 = 0 cannot exist. Hence, the function is undefined.
Al
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Kristine 2*2*2=8
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Differences Between Laspeyres and Paasche Indices
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No. 7x -4y is simplified from 4x + (3y + 3x) -7y
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. After 3 months on a diet, Lisa had lost 12% of her original weight. She lost 21 pounds. What was Lisa's original weight?
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Cied
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Porter
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Porter
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Yasmin
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I'm interested in nanotube
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what is system testing?
AMJAD
preparation of nanomaterial
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Yes, Nanotechnology has a very fast field of applications and their is always something new to do with it...
Himanshu Reply
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AMJAD
what is system testing
AMJAD
what is the application of nanotechnology?
Stotaw
In this morden time nanotechnology used in many field . 1-Electronics-manufacturad IC ,RAM,MRAM,solar panel etc 2-Helth and Medical-Nanomedicine,Drug Dilivery for cancer treatment etc 3- Atomobile -MEMS, Coating on car etc. and may other field for details you can check at Google
Azam
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Prasenjit
after 100 year this will be not nanotechnology maybe this technology name will be change . maybe aftet 100 year . we work on electron lable practically about its properties and behaviour by the different instruments
Azam
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Prasenjit
how hard could it be to apply nanotechnology against viral infections such HIV or Ebola?
Damian
silver nanoparticles could handle the job?
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Azam
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Uday
I'm interested in Nanotube
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Prasenjit
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Prasenjit Reply
At high concentrations (>0.01 M), the relation between absorptivity coefficient and absorbance is no longer linear. This is due to the electrostatic interactions between the quantum dots in close proximity. If the concentration of the solution is high, another effect that is seen is the scattering of light from the large number of quantum dots. This assumption only works at low concentrations of the analyte. Presence of stray light.
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the Beer law works very well for dilute solutions but fails for very high concentrations. why?
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how did you get the value of 2000N.What calculations are needed to arrive at it
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Source:  OpenStax, The new-york historical society: lessons from one nonprofit's long struggle for survival. OpenStax CNX. Mar 28, 2008 Download for free at http://cnx.org/content/col10518/1.1
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