In mid-March 2020, the Cosmos Club closed its doors, due to the orders issued by the District of Columbia government to contain the spread of COVID 19. The Club and the Foundation quickly adapted to Zoom technology to continue their programs and other activities. With help from Club staff, Cosmos Club members learned how to use Zoom and to the credit of all, the Cosmos Club Foundation had a highly successful year.

Foundation assets have increased to just over $4 million during the year, and donations by members increased to $155,577 from July 1, 2019 – June 30, 2020. In part, contributions Foundation through membership in the Powell Society accounts for the increase.

The McGovern Award in science was presented to Professor Richard Prum, Curator of Ornithology and Head Curator of Vertebrate Zoology in the Yale Peabody Museum of Natural History, spoke on The Evolution of Beauty on February 10, 2020. Professor Prum delighted the full-house audience with his knowledge and wit, accompanied by beautiful images of the avian world. The Foundation selected Joy Harjo, Poet Laureate of the United States, to receive the McGovern Award in the humanities, but the pandemic foreclosed an opportunity to present the award in person, and the lecture has been postponed until the Club is fully open.

Justice Ruth Bader Ginsburg was selected for the Cosmos Club Award for 2020, and her death in September meant that there was no lecture for the year.

The Cosmos Scholars program had a slight decrease in the number of applications from local area graduate students (171 instead of 195 in 2019), but the quality of applications was impressive. Twenty-two Master’s and PhD candidates received grants of up to $5,000 each for their research proposals. Unfortunately, the Foundation was not able to host receptions for the new grantees or for the 2019 students who were completing their research projects. Booklets featuring the graduate students’ research continue to be printed and distributed to members of the Cosmos Club. Credit for this successful program goes to Ellen Miles who has managed it for the past few years.

The Cosmos Club Foundation Fellows established a new program in 2020 that allows the DC Public Education Fund to award microgrants to graduates of the DC Public Schools to fill the gap that prevents their enrolling or staying in college. With the $50,000 per year provided by the Foundation, the Ed Fund can help students cover expenses that are not covered by scholarships—the cost of textbooks, a laptop, transportation expenses, or living expenses. The Foundation receives quarterly reports from the Ed Fund on how funds have been distributed.

The Cosmos Club Foundation Fellows are all Club members who volunteer their time to makes all of these programs a success. Administrative expenses are kept extremely low, thanks to the Fellows’ contributions. We are most grateful to the members of the Club who donate generously to these programs that support education in our community. The financial health of the Foundation can be seen in the IRS form 990 for 2020.

The Cosmos Club Foundation finished its year on a financially positive note. Due to the generosity of many Cosmos Club members, our finances are sound. Unfortunately, one of our most valued and long- time member, Joan Challinor, died last fall. She was generous with both her financial support and with her time having been instrumental in the work of our Cosmos Club Foundation Scholars Program.

To a full house, the McGovern Award for the Arts and Humanities was presented to renowned opera mezzo soprano, Denyce Graves, who gave a delightful program relating her life and subsequent rise to fame accompanied by vocal renditions of some of her most famous roles and other familiar works. It was a memorable evening for all those fortunate enough to be in attendance.

This year’s Cosmos Club Award, funded by the Foundation, was presented to Bryan Stevenson, public interest lawyer and founder and Executive Director of Equal Justice Initiative. Because of the number of attendees, the dinner was held in the Warner Lounge and Old Members Dining Room followed by his presentation in the Powell Room. Inspiring, thought provoking, moving, humble are just some of the words used to describe his speech which was very well received.

The Cosmos Foundation Scholars program continues to attract bright scholars working on their Masters or PhD diplomas. We had a total of 193 applicants from universities in the Washington, DC area. 24 grants from 6 institutions were awarded for a total of $73, 681. The top number of awards were given to Georgetown and UMCP students. The subjects were split between the sciences and arts and humanities. Pete Toulmin and Ellen Miles were in the forefront of the hard work necessary to organize the selection of the candidates. The Trustee and Advisors continue with sorting and judging the applications. The hard work and effort of all are intense but worth it. The funded research is fascinating and wide ranging.

There were two Scholars Receptions. The first was for the 2018- 19 incoming Scholars. The idea for this reception was initiated and organized by Nancy Work. It gave the Trustees and Advisors an opportunity to meet our new Scholars and their Advisors plus it gave them all an opportunity to visit the Cosmos Club, most for the first time. And as an added plus, it gave the Scholars an opportunity to meet each other. It was considered an outstanding success by all and will be repeated next year.

The second Reception was for the Scholars of 2017-18. This reception is open to all Cosmos Club members and guests. Following 79 the same format as in the past two years, the Scholars each presented his or her research at individual tables allowing a more personal and direct interaction. All who attend, faculty, mentors, Club members and guests, find this format to be very rewarding and successful. And the scholars, themselves, prefer this arrangement.

The finances of the Foundation remain strong. This can be assessed on IRS form 990 for 2018. Total expenses were $106,432. Contributions from 168 donors totaled $105,702. We have kept within budget while maintaining a strong balance.

The Cosmos Club Foundation had another successful year. This was due in part to the generosity of Cosmos Club members and friends who continue to support our efforts through contributions and participation. The Trustees and Advisors are especially grateful to the McGovern Foundation, Joan Challinor, Jeanne Rosenthal, Jean Federico, and Judith Geller for their exceptional gifts to the Foundation.

The McGovern Award program gave its award for science to Albert-Laslo Barabasi, a renown physicist. His presentation on network theory was both fascinating and understandable. A rare treat.

This year, the Cosmos Club Award, funded by the Foundation, was presented to David M. Rubenstein, well-known philanthropist, entrepreneur, and chairman of both the Smithsonian and the Kennedy Center. His presentation, to a sold-out house, was humble, humorous, and very well received.

Again, for the Cosmos Foundation Scholars program, we had a large number of applications – 273 to be exact. Of those, 27 were given awards totaling $71,295. The hard work of Pete Toulmin should be noted, plus the dedication of the Trustees and Advisors in sorting and judging the applications. It is a very intense process but well worth the efforts of many.

For the Scholars Reception, the same successful format as last year was used. Unlike the former and more formal dinners, the awardees individually presented the results of their research at separate tables, thereby allowing more flexibility and the ability of the guests to directly interact with them. There were over 100 attendees including faculty, mentors, university officials, Club members, and guests.

A gift for the publication of the brochure used in the solicitation letter for the Foundation was, again, generously funded by Joan Challinor.

The finances of the Foundation remain strong. This can be accessed on the IRS form 990 for 2017. Total expenses were $94,357 (slightly less than prior years because only one McGovern award was given in 2017 instead of the usual two). Contributions from 205 donors totaled $112,381. We continue to keep within budget while maintaining a strong balance.

The Cosmos Club Foundation’s three hallmark efforts continue to thrive thanks to the most welcome and important generosity of Club members and friends. The Trustees and Advisors once again are profoundly grateful to the McGovern Foundation, Joan Challinor, and to Jeanne Rosenthal for their continuing and exceptional gifts to the Foundation.

The McGovern Award program is thriving. Over 200 people attended the stimulating talk by Karl Deisseroth of Stanford University, whose pathbreaking work in optogenetics he explained with clarity and humor.

The Cosmos Club Award, funded by the Foundation, was presented to Lonnie Bunch, the founding Director of the Smithsonian’s National Museum of African American History and Culture. Director Bunch’s talk enthralled a sold-out audience in the Warne Ballroom. Interestingly, he commented that he wouldn’t hold the position were it not for the long-ago sponsorship of Joan Challinor, one of the Foundation’s trustees.

The Cosmos Scholars program flourished once again under the sterling leadership of Trustees Pete Toulmin, Jean Federico, Ann Sheffield, and Joan Challinor. The 211 applications for grants in aid were markedly superior again this year. For this reason, and thanks to the generosity of our donors, we were able to make 25 grants. Since its inception the program has supported 402 graduate students and allocated $762,370 to their research efforts.

The Scholars reception was well attended by more than 100 Club members and guests, current and former Cosmos Scholars, faculty mentors and university officials. Students presented the results of their research in a less formal but highly successful event which replaced the annual dinner.

The Foundation’s financial position is fully shown on the IRS form 990 for calendar year 2016, a public document. Total expenses ($105,133) exceeded investment income ($64,363), so contributions continue to be an important and greatly appreciated element of our operating budget. As the form 990 shows that only 3% of the expenditure went to general expenses such as accounting, banking, and insurance, donors can be confident that their contributions are supporting our programs.

The Cosmos Club Foundation’s three hallmark efforts continue to thrive thanks to the most welcome and important generosity of Club members and friends. The Trustees and Advisors once again are profoundly grateful to the McGovern Foundation and the Shields Foundation for their continuing and exceptional gifts to the Foundation. In CY’2015, the Foundation received contributions from 180 members of the Cosmos Club and is grateful to its many donors. The McGovern Award in the Humanities was presented to Jill Lepore, the David Woods Kemper (’41) Professor of American History at Harvard University and a staff writer at The New Yorker. The program was attended by a full house of Club members and members of the public who participated in a lively question and answer session after Professor Lepore’s insightful and witty talk. Ambassador and fellow Club member Thomas Pickering received the Cosmos Club Award on May 29, 2016; the stipend and citation for the Award are provided by the Cosmos Club Foundation. Carol Greider received the 2015 Cosmos Club Award on October 20, 2015. The Cosmos Scholars program flourished once again under the sterling leadership of Trustees Ann Sheffield and Priestley Toulmin. The 263 applications for grants-in-aid showed continued excellence. The annual Scholars dinner was well attended by 106 Club members and guests, current and former Cosmos Scholars, faculty mentors and university officials. The student presentations of research results made possible by the scholarships were notable for the quality of their efforts and the variety of topics studied. The Cosmos Scholars Program has now supported the research of 37 graduate students by dispensing $691,955.

The McGovern Award in Science will be awarded on November 7, 2016 to Karl Deisseroth for his pioneering work in “optogenetics, the technologies of CLARITY and optogenetics, and for applying integrated optical and genetic strategies to study normal neural circuit function as well as dysfunction in neurological and psychiatric disease.”

The Foundation’s financial position is fully shown on the IRS form 990, a public document. As the form 990 shows only 11% of the expenditures went to management and general expenses such as accounting and insurance, donors can be confident that their contributions are supporting our programs.

The Cosmos Club Foundation’s three hallmark efforts continue to thrive thanks to the most welcome and important generosity of Club members and friends. The Trustees and Advisors once again are profoundly grateful to the McGovern Foundation and the Shields Foundation for their continuing and exceptional gifts to the Foundation. With sadness and immense gratitude the Foundation received a gift from Jeanne Rosenthal in memory of her late husband Joseph K. McLaughlin who was a trustee of the Foundation. In calendar year 2014 the Foundation received contributions from 216 individuals and institutions; we are grateful for each and every donation.

The McGovern Award in Science was presented to Henry Petroski on November 3, 2014, in recognition of his manifold accomplishments in science and engineering. On January 12, 2015, Gail Kern Paster received the McGovern award in the humanities in recognition of her major contributions to Shakespeare studies. Both gave talks that were notable for their breadth, insight, and humor. As always, the McGovern award programs were well attended by Club members, their guests, and members of the public, who participated in lively question and answer sessions.

The Cosmos Club Award, funded by the Foundation, was presented to Alice Rivlin on April 21, 2014; as always, the occasion was one of intellectual stimulation and stimulating company. The Cosmos Scholars program flourished once again under the sterling leadership of Trustees Jean Federico, Joan Challinor, Ann Sheffield and Priestley Toulmin. The 228 applications for grants in aid were markedly superior this year. For this reason, and thanks to the generosity of our donors, we were able to increase the amount awarded and made 27 grants. Since its inception the program has supported 352 graduate students and allocated over $623,000 to their efforts.

The annual Scholars dinner was well attended by more than 100 Club members and guests, current and former Cosmos Scholars, faculty mentors and university officials. The students’ oral presentations of research results made possible by the research grants were notable for the quality which set a new standard of excellence. The professional archivist hired to bring order to our paper records has nearly completed her work, and the process of digitizing the material will be completed by the time you read this report. The Club has been watching our progress and hired our archivist. The Trustees are continuing to study how to proceed to archive the voluminous electronic records and emails produced during the last two decades.

The Foundation’s financial position is fully shown on the IRS form 990, a public document. Investment income was $70,511, far short of the $113,452 of expenses, so the Foundation really needs your continued support, particularly in this period of low interest rates. As the form 990 shows that only 11% of the expenditure (23% if archiving is included) went to management and general expenses such as accounting and insurance, you can be confident that your contributions are supporting our programs.

2014 Annual Report of the CCF + 2015 Grants in dollars

	2011	2012	2013	2014	2015
Contributions	95,520	122,525	155,370	123,500
Dividends and interest	33,926	36,740	44,638	70,511
Investment appreciation	(6,396)	139,334	310,694	89,986
Scholars’ grants	45,001	42,750	49,955	62,210	74,535
Awards, other expenses	34,790	27,216	26,493	51,242
Assets at year-end	1,577,334	1,805,968	2,240,222	2,410,767

Gerald B. Kauvar, Chair

The Cosmos Club Foundation’s three hallmark efforts continue to thrive thanks to the most welcome and important generosity of Club members and friends. The Trustees and Advisors once again are profoundly grateful to the McGovern Foundation and the Shields Foundation for their continuing and exceptional gifts to the Foundation. A gift by Gary Nordlinger in honor of his uncle, Gerson Nordlinger, enabled the Foundation to add a named grant in the arts and humanities to the Cosmos Scholars program. The Trustees also voted to name a grant in biomedical science for Joseph K. McLaughlin in recognition of his generous and continuing support for the goals of the Foundation. In calendar year 2013 the Foundation received contributions from 200 members of the Cosmos Club; we are grateful for each and every donation.

The McGovern Award in Science was presented to Harold Varmus on November 18, 2013 in recognition of his insights into the genetics of cancer cells that have led to important developments in the treatment of disease in patients.

Christoph Eschenbach received the McGovern Award in Arts and Humanities on February 5, 2014, for enriching the world of music as conductor, soloist, music director and mentor. Both programs were attended by a full house of Club members and members of the public, who participated in lively question and answer sessions after Harold Varmus’ informative and witty talk and Deborah Lamberton’s splendid interview of Maestro Eschenbach.

Author David McCullough and economist Alice Rivilin each received the Cosmos Club Award, the stipend and citation for which is provided by the Cosmos Club Foundation. Club members and their guests were educated and entertained by these two splendid additions to the distinguished roster of awardees.

The Cosmos Scholars program flourished once again under the sterling leadership of Trustees Ann Sheffield and Priestley Toulmin. The 185 applications for grants in aid were markedly superior this year. For this reason, and thanks to the generosity of our donors, we were able to increase the amount awarded even though the number of awards remained the same (26) as the previous year. Since its inception the program has supported 325 graduate students and allocated almost $550,000 to their efforts.

The annual Scholars Dinner was well attended by 101 Club members and guests, current and former Cosmos Scholars, faculty mentors and university officials. The student presentations of research results made possible by the scholarships were notable for the quality of their efforts and the variety of topics studed.

The Foundation engaged a professional archivist to bring order to our paper records, which date from 1967. As that project nears completion the Trustees are contemplating how to proceed to archive the voluminous electronic records and e-mails produced during the last two decades.

The Foundation’s financial position is fully shown on the IRS Form 990, a public document. As the Form 990 shows that only 13.4 percent of the expenditure went to management and general expenses such as accounting and insurance, you can be confident that your contributions are supporting our three programs.

Cosmos Club Foundation year-end financial results in dollars

	2011	2012	2013	2014
Contributions	95,520	122,525	155,370
Dividends and interest	33,926	36,740	44,638
Investment appreciation	(6,396)	139,334	310,694
Scholars’ grants	45,001	42,750	49,955	62,210
Awards, other expenses	34,790	27,216	26,493
Assets at year-end	1,577,334	1,805,968	2,240,222

Gerald B. Kauvar, Chair

The Cosmos Club Foundation’s three hallmark efforts continue to thrive thanks to the most welcome and important generosity of Club members and friends. The Trustees and Advisors are profoundly grateful to Joseph K. McLaughlin, the McGovern Foundation, and the Shields Foundation for their continuing and exceptional gifts to the Foundation.

The McGovern Award in Arts and Humanities was presented to Brian Lamb, the founder of CSPAN and recipient of the Presidential Medal of Freedom, whose talk and sparkling question and answer session charmed a large audience on February 11. Nobel Prize winner Daniel Kahneman received the McGovern Award in Science on April 30. His brilliant talk on “Policy Implications of Recent Research in Psychology and Behavioral Economics” was attended by 250 Club members and their guests. Members of the general public attending included a splendid turnout from the Princeton Club, the Economic Club of Washington, and the American Psychological Association.

The Cosmos Scholars program flourished once again under the sterling leadership of Trustees Ann Sheffield and Priestley Toulmin. The electronic display of previous winners, their thesis or dissertation topics, and the institution at which they studied continues to attract favorable comments from Club members and guests. This year (CY’13), thanks to the generosity of its 243 donors, the Foundation was able to raise the amount and number of grants-in-aid-of-research from $43,500 for 23 graduate students to $49,950 for 26 students – with no diminution in the quality of accepted proposals. The annual Scholars dinner was well attended by more than100 Club members and guests, current and former Cosmos Scholars, and university officials. The student presentations of research results made possible by the scholarships garnered praise for the quality of their efforts and the variety of topics studied.

The Foundation once again supported the Cosmos Club Award financially and through participation on the Awards Committee. Pulitzer Prize winning Historian David McCullough will receive the honor at a dinner on October 8.

The Foundation’s financial position is fully shown on the IRS form 990, a public document. The endowment is 63 percent invested in equities; at $1,805,968, it has fully recovered from the investment market collapse. Nevertheless, investment income was only $36,740, far short of the $69,966 of expenses, and so the Foundation really needs continued support of Club members, particularly in this period of low interest rates. As the form 990 shows that only 9 percent of the expenditure went to management and general expenses such as accounting and insurance, donors can be confident that their contributions are supporting our three programs.

Gerald B. Kauvar, Chair

Thanks to the most welcome and important generosity of Club members and friends, the Cosmos Club Foundation’s two hallmark efforts continue to thrive—the John P. McGovern Awards in Science, Literature, and Arts and Humanities, and the Cosmos Scholars program that provides grants for graduate student research conducted at area universities. The Trustees and Advisors are profoundly grateful to Joseph K.McLaughlin, the McGovern Foundation, and the Shields Foundation for their continuing and exceptional gifts to the Foundation.

The McGovern Award in Arts and Humanities was presented to Kwame Anthony Appiah, whose talk on honor, given to a large audience on January 5, has been placed on the Club website in the occasional papers series. In February, Professor Appiah was presented the National Medal in the Humanities by President Obama. Nobel Prize winner Daniel Kahneman has been selected to receive the McGovern Award in Science on November 2, 2012.

The Foundation once again supported the Cosmos Club Award financially and through participation on the Club’s Awards Committee, which selected the former director of the Metropolitan Museum of Art Philippe de Montebello as the 2012 honoree.

The Cosmos Scholars program flourished once again under the sterling leadership provided by Trustees Joan Challinor and Priestley Toulmin and the valuable assistance of Trustee Ann Sheffield. Two area institutions were added to the list of those whose students are eligible to compete: The Uniformed Services University of the Health Sciences and the Johns Hopkins School of Applied International Studies. An electronic display of previous winners, their thesis or dissertation topics, and the institution at which they studies was placed next to the coatroom; it has attracted many favorable comments from Club members and guests.

A summary of the Foundation’s year-end results is shown below. As expenditures are more than twice the investment income, contributions are essential to support the program of grants-in-aid and awards.

	2009	2010	2011	2012
Contributions	35	198	96
Dividends and interest	9	33	34
Scholars’ grants	(33)	(36)	(45)
Awards, other expenses	(30)	(36)	(35)
Assets at Year-end	1,253	1,534	1,577

In CY’2010, the Foundation received contributions from 279 members of the Cosmos Club and is grateful to its many donors.

Thanks to the generosity of Club members and friends, the Cosmos Club Foundation’s two hallmark efforts – the John P. McGovern Awards in Science, Literature, and Arts and Humanities, and the Cosmos Scholars program that provides grants for graduate student research conducted at area universities — continue to thrive. The Trustees and Advisors are profoundly grateful to Thomas W. Stern and Joseph K. McLaughlin for their exceptional generosity.

Two McGovern awards were presented during the year. The first was presented to Calvin Trillin for literature in recognition of his distinction in American letters in a wide variety of genre. Mr. Trillin presented a droll and informative talk on “The Writing Game” at the ceremony. The second award, in Science, went to Thad Allen, the national incident commander during the Deepwater Horizon disaster, for his ability to navigate the shoals of science, engineering, policy and politics. Mr. Allen’s talk about that journey was candid and illuminating. Both events were well attended by members and their guests as well as members of the public who are welcome to McGovern Award ceremonies in keeping with the Foundation’s Charter.

The Foundation once again supported the Cosmos Club Award financially and through participation on the Awards committee which selected physicist Leon Lederman as its honoree for 2011.

The Cosmos Scholars program flourished once again under the sterling leadership provided by Trustees Joan Challinor and Priestly Toulmin and the valuable assistance of Trustee Ann Sheffield.

The Foundation has recovered from the market meltdown of 2008 and expenditures have been restored to previous levels. In thousands of dollars:

	2008	2009	2010	2011
Contributions	51,874	35,320	198,150
Dividends and interest	34,863	29,242	33,327
Investment appreciation	(353,901)	157,597	121,330
Scholars’ grants	(45,195)	(33,040)	(35,950)	(45,001)
Awards, other expenses	(26,796)	(29,999)	(35,513)
Assets at Year-end	1,093,749	1,252,869	1,534,213

In CY’2010, the Foundation received contributions from 275 members of the Cosmos Club and is grateful to its many donors.

Since the Cosmos Club Foundation’s last annual report the Foundation has moved from strength to strength in both its major programs: the John P. McGovern Awards and the Cosmos Scholars grants to promising graduate students attending area universities.

Three McGovern awards were made for distinguished contributions to science.  Vinton G. Cerf was honored for his work in developing the internet, and David Baltimore for his contributions to cancer research.  Most recently, Anthony Fauci was recognized for his pioneering work on infectious diseases, particularly HIV Aids and influenza. An award in the arts was presented to Frances Sternhagen for her career on stage and film.  Another Arts and Humanities Award was presented to Elaine Pagels for her seminal work in the history of religion.  Each of these events attracted large audiences comprised of club members and their guests as well as members of the public who are welcome at these events in keeping with the Foundation’s charter.
The Henry Work Lecture delivered by scientist and theologian John Pulkinghorne was made possible through the generous contribution of Foundation Advisor Nancy Work.  The Foundation continued its support of the Cosmos Club Award financially and through trustee participation on the Awards Committee which selected opera star Frederica van Stade and historian Robert Caro as honorees in 2009 and 2010.

The Cosmos Scholar program, championed by Joan Challinor and Priestley Toulmin, continued to flourish, attracting more than 200 applications annually.  Since the inception of the program approximately seventy percent of awardees have completed either a Masters degree or a PhD and another ten percent are engaged in doctoral research.  To date, Cosmos Scholars have published more than 50 articles and published five books based on research funded by the Foundation’s grants.  The dinner, held in April 2010 to honor the 2009 scholars, attracted the largest audience of scholars, mentors, and university administrators in the event’s history.  The Foundation has completed work on an up-to-date biographical roster of Cosmos Scholars from the program’s inception in 1998.  Of particular interest to club members will be the development of ways to identify scholars working in their disciplines and professions.

The work of the Cosmos Club Foundation is supported primarily by members of the Club.  Contributions were $51,874 in 2008 and $35,320 in 2009.  Assets, which had closed 2008 at $1,432,905, declined with the market meltdown and stood at $1,093,749 by the end of 2008. In response, the Foundation reduced its expenditures from $71,993 in 2008 to $63,039 in 2009.  Grants to Cosmos Scholars, which are made at the beginning of the fiscal year, were reduced from $45,195 in 2008 to $33,040 in 2009.  McGovern Awards, of which there were three in 2007, were reduced to five for the next three years.  During 2009, the assets recovered somewhat, closing the year at $1,252,869.  In early 2010, Trustees cautiously increased the grants to Cosmos Scholars to $35,950.   Generous contributions and favorable market performance will enable to Foundation to increase its support for the Cosmos Scholars next year.

Gerald B. Kauvar, Chair, Cosmos Club Foundation

During the past year, the Cosmos Club Foundation devoted much of its effort to reconfiguring our grant-in-aid program, which is now known as the “Cosmos Scholars” grants. Through a rigorous evaluation program headed by trustees Priestley Toulmin and Joan Challinor, 27 awards were made to graduate students of area universities, totaling more than $45,000. Results of projects are presented by our Cosmos Scholar awardees at a dinner at the Club each spring.

As it became evident that the Consortium of Universities of the Washington Metropolitan Area no longer wishes to assist the Foundation in this program, the Foundation took on the task of administering the program itself. Mr. Toulmin, working with Ms. Challinor and consultant Amy Pearson prepared a new website, enabling applicants to apply electronically. The brochure announcing the grant program has been rewritten to reflect the current administration of the program, and the Cosmos Scholars web site has been moved to a new, more secure server better able to meet the Foundation’s requirements. The Foundation trustees decided to increase the maximum grant from $3,000 to $4,000 to reflect increasing costs of graduate level research.

After a full slate of John P. McGovern Awards in 2006-2007, McGovern subcommittee members Barbara Culliton (Science), Alan Fern (Arts and Humanities, and Mark Olshaker (literature) turned their attention to evaluating new candidates in each field. Vinton Cerf, one of the developers of the Internet, will be honored with the Science Award on October 6, 2008. An invitation has gone out for the next Literature Award.

The Foundation continued its support of the Cosmos Club Award, both financially and through trustee participation. Mark Olshaker sat on the Cosmos Club Awards committee, which selected astronomer Vera Rubin to receive the Award for 2008.

During calendar year 2007, the Foundation received $88,125 from 352 Club members and one out-of-town guest who was so impressed with the grants-in-aid program that he went home and wrote a $6,000 check. Treasurer Huebner is particularly pleased that so many Club members chose to support the Foundation and its efforts. Total expenses were $75,083, of which only 11.9% was used for administration, leaving $66,144 for direct support of the Foundation’s charitable programs. Early in 2007, the Foundation distributed $38,500 to 26 grant-in-aid recipients. Early in 2008, in recognition of Club members’ generous support, the Trustees distributed $45,195 to 27 grant recipients. If members continue their generosity, the Trustees hope to raise this sum again in 2009. At year-end 2007, the Foundation’s assets were $1,432,905, compared with $1,343,745 at the end of 2006. The assets are invested in widely diversified equity, bond, and money market funds. Looking ahead, the Treasurer’s concerns are the poor recent performance of the equity markets and the rising cost of financial reviews or audits. The Foundation thanks Christopher Buynak and Barbara Sturges of the Club staff for accounting and secretarial report during the year.

The trustees of the Foundation noted with sadness the death in March 2007 of Henry Work, a longtime trustee whose enthusiasm, dedication, and wise counsel will be sorely missed. The trustees decided to designate the highest-ranking Cosmos Scholar proposal in a scientific field each year in honor of Dr. Work. With equal sadness, we noted the passing in June 2007 of John P. McGovern, initial benefactor of the awards program named in his honor.

MARK OLSHAKER, Chair