Report for the Academic Year 1992-1993 - The Institute Libraries ...

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FUNCTIONAL
Institute for advanced study
ALLOCATION OF EXPENSES
The costs of providing the various programs and other activities have been
summarized on a functional basis in the statement of support and revenue,
expenses, capital additions and changes in fund balances. Accordingly, certain
costs have been allocated among the programs and supporting services benefited.
The net costs incurred by the Institute in operating both the Dining Hall
($462,583 net of $361,638 m revenues) and Members' housing ($235,607, net of
$992,474 in revenues) have been allocated among the programs and supporting
services benefited. An overhead charge is allocated to certain schools generally
based upon their ability to recover such costs under the terms of various grants
and contracts. Overhead allocated from administration and general expenses to
various programs totalled $1,240,585 for the year ended June 30, 1993.
Interest expense on plant fund debt, net of interest income on short-term invest-
ments, is allocated to schools based upon their occupancy of academic buildings
funded with such debt. Allocated interest expense totalled $665,281 and allocated
interest income totalled $53,548 for the year ended June 30, 1993.
STATUS
The Institute is exempt from Federal income taxes pursuant to Section 501(c)(3)
of the Internal Revenue Code and is listed in the Internal Revenue Service Publi-
cation 78.
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