ANNUAL REPORT 2006-2007files.asme.org/Foundation/About/13330.pdf · Orlando, Fla. Graduate Teaching...

ANNUAL REPORT2006-2007

FndCvrBkCvr07:CvrBk 11/19/07 4:09 PM Page 3

Activities of the FoundationThe ASME Foundation raises money through an annualappeal, planned gifts, and special fund drive to support theactivities of ASME that promote the art, science and practiceof mechanical engineering worldwide. Under the able leader-ship of Chair K. Keith Roe and with the support of anincreased donor base, The ASME Foundation had a banneryear in 2006-2007.

For the Foundation’s annual appeal, 328 donors contributed$77,882. That included contributions for general purposes,scholarships, and the ASME Federal Fellows Program. Othergifts included $354,000 in bequests from two donors whohad named The ASME Foundation as a beneficiary in theirwills, $20,000 in planned gifts, and a challenge grant of$25,000 to establish an endowment for scholarships at Vir-ginia Polytechnic Institute and State University.

In addition, a total of $168,285 was contributed to the Foun-dation to endow awards honoring Thomas Caughey, ThomasJ.R. Hughes and Theodore Belytschko, and $22,000 wasdonated to establish a District G Student Design ContestFund. Finally, a one-time scholarship in the amount of $1,000was created in honor of the late Richard Slaybaugh, and over$10,000 was contributed to match the challenge grant forVirginia Tech scholarships.

The Foundation undertakes a number of support activities tofacilitate fundraising activities. During FY2007, new practicesand procedures helped streamline the processes, also helpingexpand the donor base and enhance donor relationships. Vis-ibility of the Foundation was increased through a revampedFoundation website, articles in ASME News, and regional out-reach to members.

Planned Giving is a cornerstone of fundraising activity in theFoundation. ASME members are offered the opportunity tocreate their own legacy by making a planned gift to theFoundation.

All planned gift donors become members of the ArchimedesClub, a prestigious group of individuals who have used oneof many vehicles available for this purpose. Receptions hon-oring Archimedes Club members are held at the ASME Inter-national Mechanical Engineering Congress and Expositionand at the ASME Summer Annual Meeting. These eventsoffer members an opportunity to catch up with old friends,make new acquaintances, and learn about recent activitiesof the Foundation.

During 2006-2007, the Archimedes Club welcomed Terryand Betsy Shoup, Betty Bowersox, John F. Elter, Alma Mar-tinez Fallon, Keith and Ruthy Thayer, and Sam and MyrnaZamrik.

Honoring the PastWithin ASME as elsewhere, the past informs the future. TheASME Foundation is proud to support the ASME Honors andAwards program, recognizing excellence of the past throughthe many awards named for engineers of yesterday. The Foun-dation manages the establishment and growth of endow-

T H E A S M E F O U N DAT I O N 2 0 0 6 - 2 0 07

The ASME Foundation is proud to support FIRST by collaborat-ing with the ASME Auxiliary in awarding $50,000 in scholar-ships recognizing students whose experience with FIRST hasinspired an interest in pursuing an engineering career.

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ASMEFnd07begRev2:ASMEFnd06Beg 11/19/07 4:12 PM

ments which fund the Honors and Awards program, andassists with fundraising for new awards.

Society-level awards honor achievements of the highest orderthrough a wide variety of accomplishments within the field ofmechanical and multi-disciplinary engineering. By showcasingengineering excellence, this recognition informs and encour-ages the future of the profession. The highlight of the Honorsand Awards program occurs annually at the formal Honorsand Awards Assembly, an elegant, high-tech presentation dur-ing the ASME Congress, which was held this past year inChicago.

Serving the PresentThe Foundation Grants program accepts proposals fromASME units in three program areas: technical literacy, careerplanning and skills development, and technologically soundpublic policy stewardship. Contributions to the capital cam-paign in the mid-1990s, as well as the Orr Fund, establishedas a legacy from ASME member Leighton Orr, provide thebase of funding for the grants program.

During 2006-2007, The ASME Foundation awarded $228,500for five programs: Technology and Engineering AdvocacyMentors, Increasing ASME Impact at the Graduate Level,Expand Mechanical Advantage Online, ASME Federal Govern-ment Fellowship Program, and Washington Internships forStudents in Engineering.

Investing in the FutureToday’s students represent the future of engineering. TheFoundation is proud to fund an increasing number of scholar-ships each year. In addition to The ASME Foundation Scholar-ship Fund, established by an anonymous donor to provide 19awards of $1,500 each, the Foundation manages numerousother endowed scholarship funds. Working closely with staffof the ASME Centers Sector, which manages the applicationprocess, the Foundation in FY2007 awarded $182,000 inscholarships benefiting 82 students. Together with the ASMEAuxiliary, the Foundation made awards to graduating highschool seniors who excelled as a member of a FIRST (For theInspiration and Recognition of Science and Technology) robot-

ics team and were nominated by an ASME member. The Lucyand Charles W.E. Clarke Scholarships, also awarded in con-junction with the ASME Auxiliary, are presented to five col-leges each year and awarded to incoming freshmen asstipulated by the donor.

In response to the tragedy that occurred on the campus ofVirginia Tech on April 16, 2007, the Foundation received achallenge grant from ASME to establish the ASME/VT Memo-rial Scholarship Fund. Beginning in 2008, this endowment willbenefit graduate students in engineering at VT and preservethe memory of victims as well as heroes of that day.

Also this year, the Foundation received a bequest from theestate of Mary Evans Stowell Thompson in the amount of$300,000, designated for scholarships in memory of Mrs.Thompson’s late husband, Willis, a longtime ASME memberof honor and distinction.

Board of DirectorsBoard members concluding their terms of service includedGene Feigel, Richard R. Grigg, John C. Mihm and Terry E.Shoup. The board was pleased to welcome as new membersRegis Matzie, Tom Pestorius, Charla Wise and Sam Zamrik.

T H E A S M E F O U N DAT I O N 2 0 0 6 - 2 0 07

Honorees at the 2006 Honors Assembly, with Virgil R. Carter, ASME executive director(front row, second from left); Terry E. Shoup, ASME President (front row, third from left),and William W. Durgin, 2006 chair of the ASME Committee on Honors (front row, fourthfrom left).

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S C H O L A R S H I P S

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The Kenneth Andrew Roe Scholarship1 award at $10,000Timothy Deppen, University of Illinois

The Melvin R. Green Scholarship2 awards at $3,500 eachZachary Edel, Michigan Technological

UniversityKatherine Sweet, Olivet Nazarene University

The Garland Duncan Scholarship2 awards at $3,500 eachSoumyo Dutta, University of TennesseeDaniel Woldtvedt, Colorado State University

The American Electric Power Scholarship1 award at $2,500Travis Turnbull, Texas Tech University

The William J. and Marijane E. Adams Jr.Scholarship

1 award at $3,000Ian Metzger, University of San Diego

The F. W. “Beich” Beichley Scholarship1 award at $2,000Kevin Bagnall, University of Oklahoma

The Stephen T. Kugle Scholarship1 award at $2,000Erin Keys, University of Texas

The Frank and Faye Masino Scholarship1 award at $2,000Shaan Polius, City College of New York

The Frank William and Dorothy GivenMiller ASME Auxiliary Scholarship

2 awards at $1,500 eachMark Barineau, Massachusetts Institute of

TechnologyTerrance McGuire, University of Cincinnati

The ASME Foundation Scholarship19 awards at $1,500 each Alexander Allan, University of CaliforniaAaron Ball, Brigham Young UniversityGregory Bond, Baylor UniversityLuke Domermuth, North Carolina State

UniversityDavid Fait, Baylor UniversityIlya Furer, CUNY College of Staten IslandMelissa Ireland, Cornell UniversityMichael Jorgens, University of HartfordKira Kembre, University of CincinnatiDanielle McClendon, Olivet Nazarene

University

Eduardo Navarrete Tolento, UniversidadNacional Auntonoma de Mexico

Martin Nolan, City College of New YorkMikael Persson, McGill UniversityTanner Scott, University of UtahEric Shaffer, Rensselaer Polytechnic InstituteDavid Shamrell, Gonzaga UniversityBrennan Sheehy, Oregon Institute of

TechnologyRobert Shirey, University of WisconsinSeth Walker, New Mexico State University

The John and Elsa Gracik Scholarship18 awards at $1,500 eachAdrian Akerson, Embry-Riddle Aeronautical

UniversityAlexander Boutin, Western New England

CollegeSamuel Brinton, Kansas State UniversityDonald Burlock, Kettering UniversityCrystal Byrd, University of South CarolinaLaura Campo, Rice UniversityCharles Cummings, III, University of

KentuckyColin Fischer, University of New HampshireBradley Harbur, University of MississippiQinxian He, Duke UniversityDavid Hoffert, University of WisconsinAaron Hover, North Carolina State UniversityBrandi Jackson, University of MarylandMichael Jeffers, Drexel UniversityJeremy Koehler, Purdue UniversityChristopher Rethmel, Tri-State UniversityJacob Schroeder, University of IdahoDaniel Weimer, Bucknell University

Power Division Scholarship1 award at $2,000Charles Stratton, University of Cincinnati

The Bruce J. Heim Foundation(Graduate) Scholarship

1 award at $1,500Columbia Mishra, Texas Tech University

The Richard M. Slaybaugh, Sr. MemorialScholarship

1 award at $1,000Andrew Fist, University of Dayton

2006 Clarke Scholarship (awarded jointlywith the ASME Auxiliary)

$6,000 awards to each of three universitiesfor 2006 freshmenMichael Jeremy Carter, University of

California

Steven Huang, University of California

Jiezi Hui, University of California

Hyun Jin Lee, University of California

Matthew Joseph Schmahl, University ofCalifornia

Joseph S. Turner, University of California

Andrew Gilbert, University of Alabama

Aaron Gertler, University of Alabama

William Warren, University of Alabama

Chris Searcy, University of Alabama

Matthew Westberry, University of Alabama

Bobby Roberson, Drexel University

Kathleen Rizzo, Drexel University

Kenny Palmer, Drexel University

Kevin Smiley, Drexel University

Marie La Posta, Drexel University

Nicholas Gomersall, Drexel University

ASME-ASME Auxiliary First ClarkeScholarship

9 awards at $5000 each

William J. Hopkins, Charter School ofWilmington, Newark, Del.

Jeffrey A. Lewis, Newberg High School,Newberg, Ore.

Chris Niznik, Century High School,Woodbine, Md.

John Walton, Inter-Lakes High School,Meredith, N.H.

Courtney Roberts, Hope Chapel Academy,Redondo Beach, Calif.

Travis M. White, Sault Area High School,Sault Ste. Marie, Mich.

Maxwell J. Mitchell, Cimarron Memorial HighSchool, Las Vegas, Nev.

Polina Danilyuk, Stuyvesant High School,New York, N.Y.

John Schoomaker, Edgewater High School,Orlando, Fla.

Graduate Teaching Fellowships4 awards for $5,000 each

Amber Bonivtch, Virginia Polytechnic Instituteand State University

Cullen Buie, Stanford University

Gavin Garner, University of Virginia

Joshua Vaughan, Georgia Institute ofTechnology


H O N O R R O L L O F D O N O R S

Centurion Club$1,000 and above Jim AdamASME Metropolitan

SectionThe Bruce J. Heim

FoundationLynden F. DavisWalter GarrisonBeth A. HincheeJames William JonesJohn B. KittoDaniel J. SegalmanRichard H. StanleyJohn A. SwansonKeith and Ruthy ThayerBabcock Power

Benefactors $500–$999 Network for GoodElizabeth BarnaAlbert E. Brion, Jr.Virgil CarterMr. Stephen H. CrandallRoger EichhornRalph EngelbergerVern and Betty EriksenRichard R. GriggRoy M. HuffingtonJoseph F. KennellWarren R. LeonardThomas LoughlinRobert H. PageSue Skemp

Patrons $250–$499 American Electric PowerJohn A. AldenSunao AokiE.A. AvallonePaul D. EdwardsJeffrey T. FongDr. and Mrs. George

HatsopoulosRichard A. HirschJ. M. JuranMendall H. LongKim I. MastalioWilliam F. MitchellC. D. Mote, Jr.Willard NottTom PestoriusWin PhillipsLaurel RasoBernard Ross

David SoukupRoy TrowbridgeJudy M. Vance

Sponsors $100–$249 Jan D. AchenbachAllen M. AchesonCrispulo AguninaldoJames AmyOtto W. AndersonHarry ArmenKenneth R. BalkeyThomas M. BarlowRoyce BeckettJohn E. Behen, IIIDavid L. BeldenArt BerglesRuthAnn BigleyJack BlaylockJohn G. BombaRobert H. BoorujyAbdon J. BrayStan BrodskyRonald E. BuckleyAnthony Cappucci Jr.Yu ChenKen ChickeringWilliam CraftEllison DavisonKenneth DeGhettoBurt DichtVince DilworthEdgar DoehlerRobert M. Drake, Jr.Charles E. Edmonds, Jr.William J. EllenbergerJohn F. ElterJ.L. Everett, IIIJohn H. FastabendF. Joseph Fischer Frank GilletteMark Glauser and Gina

Lee-GlauserDon GloverDonald H. GordonChristian GottzmanJohn GranahanSerge GratchThomas D. GreiderFrederick J. HanzalekDavid P. HardyArthur HarrisGary E. HarrisonF.G. (Rick) HeathOwen F. HeddenJohn F. HornKenneth C. Hudson

Robert G. JeffersGuido G. KarcherJudith KearneyRobert KeeferSteven A. KidwellHenry KoenigFred KohlossKishor M. KulkarniTed LarsenJohn A. LeeTom LoveMargaret J. LudoweseMichael MacLeanSam MartinNorman B. MaynardMichael MichaudJack MondayJohn L. Morrow, Jr.Daniel H. MoserIsaac MurrayJohn T. MyersThomas PerryW.A. PyshRonald E. RederLuciano SantosJ. William ScherByron G. Schieber, Jr.Virgil SchrockG.A. SchurmanRobert T. SimmonsArthur D. SkillmanJonathan C. SommersDonald SteeleCarl L. StrodtmanJohn A. TalbottHarold TaylorRobert D. Teece, Sr.David H. ThompsonLawrence Trupo, Jr.Jason T. WeissenburgerBrian R. WillStanley YokellDonald N. Zwiep

Friends Gifts to $99 Syed AfzalJames M. AllmanAnthony AlonzoCourtney D. AlveyMaco Machinery

Company Inc.Fred A. BagwellAllen BashoreCandice BauerCharles B. BaylesDavid Lee BergerCharles W. Bert

James BertramKenneth BickmanJohn C. Boehm Karl BoldtRobert W. BosseLeo J. BrancatoJeffrey BrooksAllan R. BrownBob BruschiJ.M. BurnsRichard BurowFrank CappuccioKenneth CartwrightSteven CatesWallace CookGene CoquetJohn and Sue CorcoranGeorge CoyleJohn R. CurreriLouise N. Dale, Jr.John G. DaviesLouise F. DavisMario DeCorsoWilliam DeFotisBill Der GarryWilliam DickhartE.D. FarmerGas Turbine Material

AssociatesJay D. GellerRobert F. Germain, Jr.Leo B. GlaserJames G. Glenn, IIIAbe GlicksmanCharles H. GoodmanBenjamin GoodwinRalph GordonAlex GreenHarry J. HamiltonJames R. HammGeorge HanleyEillen HannaLarry HarvillDennis F. HassonLawerence HaubenRobert I HeadJames HeartyRussell F. HenkeFrederick W. HerbstAllen HerskovitzHarold HerstedtRobert HessGerard R. HillenbrandRolf HoexterGeorge HollidayMelvin HolubarRobert N. HubbyHihad Hussain

Allan JenksE. Glynn JonesJoseph J. Kaldon, Jr.William R. KeaneyEmil KondraZbigniew KowalskiJames LeathersSamuel LevinDonal LevittMichael LubranoRandall MaedaGary E. MartinAlexander MatiukLee MatschWilliam T. McCroskeyDuncan R. McLeishJustin MetzWilliam M. MeyerCharles G. MooreRobert P. MottGeorge J. MrazEdward T. Mulvey, Jr.Malcolm G. Murray, Jr.Peter G. NocellaJames NordmannSevgin OktayScott OllerJohn PellegrinArthur PitmanRichard C. PotterLester G. RhoadsAllen RhodesMelvyn RoquemoreMurray SacksonBernard J. SchochetJayne and Ken ScottDavid SeltzerT.L. ShamJohn ShorttPaul SeifriedGeorge Silvestri, Jr.Fernando SistoFrank D. SkinnerGino SovranDavid SpokelyBernard A. SponEdwin StengardRichard StonageRobert H. StoneLawrence C. TobiasDavid C. TrimbleRichard T. WiseHelmut WolfRobert WurtzLeonard ZickMichael Zizza

CONTRIBUTORS TO THE ASME FOUNDATION ANNUAL APPEAL

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C A T E G O R I E S Planned Gift Face Value Amount

P L A T I N U M $1,000,000 and above

G O L D $500,000 to $999,999

S I L V E R $100,000 to $499,999

B R O N Z E $25,000 to $99,999

M E M B E R All Planned Gifts up to $24,999

T H E A S M E F O U N DAT I O N A R C H I M E D E S C L U B

P L A T I N U MMargaret and Leighton Orr

G O L DJohn A. Swanson

S I L V E RRobert Cepluch Lynden F. Davis Nancy and Roland Fitzroy St. Clair Luzzi Sr. Carol and Allen Rhodes K. Keith Roe Linda Kloeblen Tang and Thomas Tang Mary Evans Stowell Thompson Roy Trowbridge

B R O N Z EMahesh C. Aggarwal Irma and Robert Bennett Merle and Virgil Carter Rose and Samuel Collier Charles Concordia Falcon Family Trust Marilyn and Willis Gardner Richard J. Goldstein Francesca and Joe Holm Patricia and Duane Jordan Warren R. Leonard

(In Memory of Warren Leonard, Sr.)

Thomas G. Loughlin (In Memory of Julius A. Naab)

Byron G. Schieber, Jr. Susan Skemp Chor Tan Harvey Wagner George C. Wiedersum Robert Wurtz

M E M B E RElizabeth C. Barna Betty BowersoxJames Coaker John Corcoran John F. Elter Alma Martinez FallonPhilip Hamilton Henry Koenig June Ling E. Roland Maki Magda and Michael Michaud The Estate of James McHugh John C. Mihm Pamela and David Soukup Ruthy and Keith ThayerJames Woodburn Nina and Tal Webb Betsy and Terry Shoup Myrna and Sam Zamrik

Members of ASME and supporters of The ASME Foundation, past and present,who leverage the future of the mechanical engineering profession with a plannedgift, will be recognized as members of the Archimedes Club.

A R C H I M E D E S C L U B M E M B E R S H I P

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2006-2007 PLANNEDGIVING ADVISORY

COMMITTEE

MEMBERSJohn C. Mihm, ChairCaecilia M. Gotama

Duane P. JordanAllen F. RhodesLynden F. DavisJoseph Falcon

ASMEJudith Kearney

Warren R. Leonard

THE ASME FOUNDATION


H O N O R S A N D A W A R D S

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HONORARY MEMBERSAvram Bar-CohenFellow University of Maryland

Richard E. DeVorFellowUniversity of Illinois

Bobby L. GreenLife Fellow

ASME MEDALISTDean L. KamenMemberDEKA Research andDevelopment

ACHIEVEMENTAW ARDS

Bergles-RohsenowYoung InvestigatorAward in Heat TransferAndrei G. Federov Georgia Institute ofTechnology

Per Bruel Gold Medal ForNoise Control andAcousticsJerry H. GinsbergFellowGeorgia Institute ofTechnology

Daniel C. Drucker MedalAlbert S. KobayashiLife Fellow University of Washington

Thomas A. Edison PatentAwardNorman R. McCombsFellowAIRSEP Corporation

Fluids EngineeringAwardAlexander J. SmitsFellowPrinceton University

Y.C. Fung YoungInvestigator AwardStavros ThomopoulosMemberWashington UniversitySchool of Medicine

Melvin R. Green Codesand Standards MedalGuido G. KarcherLife FellowConsulting Engineer

Heat Transfer MemorialAward

GeneralDonald M. Mc EligotLife Fellow

ArtCostas GrigoropoulosFellowUniversity of California

ScienceVan P. CareyFellowUniversity of California

Mayo D. Hersey AwardHooshang HeshmatFellow Mohawk Innovative TechInc.

Soichiro Honda MedalWallace R. WadeMemberFord Motor Company

Internal CombustionEngine AwardPaul R. Danyluk Danyluk Technical Services,Inc.

ASME Johnson &Johnson ConsumerCompanies, Inc. MedalGenesys Works

Warner T. Koiter MedalChin-Teh SunLife FellowPurdue University

Frank Kreith EnergyAwardD. Yogi GoswamiLife FellowUniversity of South Florida

Bernard F. LangerNuclear Codes andStandards AwardRaymond R. WeidlerFellowDuke Power Company

Gustus L. LarsonMemorial AwardAnn Marie SastryFellowUniversity of Michigan

H. R. Lissner MedalMaury Lane HullFellowUniversity of California

Machine Design AwardSteven A. VelinskyFellowUniversity of California

Charles T. Main StudentSection Award

GoldDaniel Joseph HannaMemberDrexel University

SilverDanielle WilliamsVirginia PolytechnicInstitute and StateUniversity

M. Eugene MerchantManufacturing Medal OfASME/SMETakeo NakagawaUniversity of Tokyo

Van C. Mow MedalLori A. SettonDuke University

Nadai MedalHuseyin SehitogluFellowUniversity of Illinois

Burt L. Newkirk AwardLior KogutMemberQualComm MemsTechnologies

Edward F. Obert AwardAndrea LazzarettoMemberUniversity of Padova

Andrea ToffoloUniversity of Padova

Old Guard Early CareerAwardCandice A. BauerMemberUniversity of Nevada

Rufus OldenburgerMedalSuguru ArimotoRitsumeikan University

James Harry Potter GoldMedalSatwindar Sing SadhalMemberUniversity of SouthernCalifornia

Pressure Vessel andPiping MedalCarl E. JaskeFellowCC Technology, Inc./DNV

Dixy Lee Ray AwardRichard WilsonHarvard University

Charles Russ RichardsMemorial AwardRichard O. BuckiusFellowUniversity of Illinois

Ralph Coats Roe MedalRoop L. Mahajan

Safety Codes andStandards Medal Norman C. HargreavesTerex Corporation

R. Tom Sawyer AwardJohn Douglas DentonUniversity of Cambridge

Ben C. Sparks MedalCharles J. HurstLife Fellow

Ruth and Joel SpiraOutstanding DesignEducator AwardPanos Y. PapalambrosFellowUniversity of Michigan

Student Section AdvisorAwardRonald M. AdrezinMemberUniversity of Hartford

Spirit Of St. Louis MedalEarl H. DowellFellowDuke University

J. Hall Taylor MedalDonald F. LandersFellowLanders & Associates

Robert Henry ThurstonLecture AwardWing Kam LiuFellowNorthwestern University

Timoshenko MedalThomas J.R. HughesUniversity of Texas

Frank Von Flue AwardStephen William JuhaszLife Fellow

George WestinghouseMedalRoman WeberMemberUniversity of Clausthal

LITERATURE AWARDS

Blackall Machine Tooland Gage AwardYung C. ShinMemberPurdue University

Yinggang Tian Purdue University

Gas Turbine AwardIvor J. DayFellow Whittle Laboratory

Christopher FreemanJohn C. WilliamsMember

Worcester Reed WarnerMedalPortonovo AyyaswamyFellowUniversity of Pennsylvania

Arthur L. Williston Medal

Winner Michael SteelMember

SecondLori Michelle NeidigMember

ThirdDanielle Kimberly WilliamsMember

Prime Movers AwardThomas ReisMemberChevron North AmericaExploration & ProductionCompany

Dani FaddaMemberPeerless ManufacturingCompany

Mark A. BuzanowskiMemberPeerless ManufacturingCompany


THE ASME FOUNDATION/VIRGINIA TECH MEMORIAL SCHOLARSHIP FUND

Lucy Abrams

Frank Adamek

Mahesh Aggarwal

Muhammad Aslam

Marcelle Austin

Kenneth R. Balkey

Thomas M. Barlow

Elizabeth Barna

John Beck

David L. Belden

William Berger

Mathew Bickley

RuthAnn Bigley

Michael Borelli

Betty Bowersox

Allison Byk

Jose Carballo

Haley Carney

Virgil Carter

Victoria Chillemi

James Coaker

William Cousins

Thi Dang

Lynden F. Davis

Virginia DeGiorgia

Burton Dicht

Vince Dilworth

Norman A. Dudziak Jr.

John F. Elter

John G. Falcioni

Richard E. Feigel

Carmen Franco

Donald Frikken

Caroline Fuller

Amy Geffen

Marc Goldsmith

Philip Hamilton

Elaine Hauser

Marian Heller

Ross Huber

Allan Joseph

Judith Kearney

Lee S. Langston

Warren R. Leonard

Theresa Lin

June Ling

Thomas G. Loughlin

Robert Luna

Karen Malesky

Alma Martinez-Fallon

Colin McAteer

Loretta C.H. McHugh

Michael B. Michaud

Brian Michels

John C. Mihm

Noel Netel

Mike Norton

Willard Nott

Ozden Ochoa

Ivan Ognjanovic

Kemi Oluwanifise

Richard Pawliger

Thomas Perry

Leila Persaud

Tom Pestorius

Allian Pratt

Laurel Raso

Mary Lynn Realff

Victoria Rockwell

K. Keith Roe

Richard Rosenberg

Chittaranjan Sahay

Mark Schroyer

Ryan Scott

Terry E. Shoup

Robert Simmons

Robert Simoneau

J. Robert Sims

David J. Soukup

Catherine Southwork

Mary Grace Stefanchik

John A. Swanson

Keith Thayer

Paul J. Torpey

Mel Torre

Reggie Vachon

David N. Valliyappan

Khong Kwok Wai

Michael Weis

Thomas Wendt

David C. Wisler

Sam Zamrik

Xuping Zhang

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*New York and New Jersey staff contributed through the Jeans for Charity program.


NEW AWARD FUNDS

The Thomas J.R. Hughes YoungInvestigators Endowment

N.R. Aluru

Harry Armen

Francisco Armero

David Benson

Jiun Shyan Chen

Zhen Chen

Gonzalo Feijoo

Robert Ferencz

Jacob Fish

John O. Hallquist

Carl T. Herakovich

Ken Jansen

Jiannwen Ju

Sukky Jun

Hiroshi Kadowaki

Wing Liu

Yaling Liu

Hongsheng Lu

Yun Yun Lu

Jim Lua

Jerrold E. Marsden

Arif Masud

Nicolas Moes

Northwestern University

Assad Oberai

Ralph Orr

Dong Qian

Daniel Simkins

James Stewart

Tayfun Tezduyar

Xiaodong Wang

Shengmin Wen

Daning C. Wu

Shaoping Xiao

Lucy Zhang

The Theodore Belytschko AppliedMechanics Endowment

N.R. Aluru

Harry Armen

Francisco Armero

David Benson

Jiun Shyan Chen

Zhen Chen

John Dolbow

Horacio Espinosa

Robert Ferencz

Jacob Fish

John Hallquist

Carl T. Herakovich

Jiannwen Ju

Sukky Jun

Hiroshi Kadowaki

Eduard Karpov

Ronald Kulak

Wing Liu

Yaling Liu

Hongsheng Lu

Yun Yun Lu

Jim Lua

Arif Masud

Nicolas Moes


Ralph Orr

Dong Qian

Leonard E. Schwer

Daniel Simkins

Henryk Stolarski

Natarajan Sukumar

Xiaodong Wang

Shengmin Wen

G.E. Otto Widera

Daning C. Wu

Shaoping Xiao

The Thomas Caughey Endowment

ASME Applied Mechanics Division

California Institute of Technology

Jane Caughey

John Dienes

George Housner

Paul C. Jennings

Fai Ma


Theodore Y. Wu

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AS OF JULY 26, 2007


BequestsMary Adeline Hanley Mary Evans Stowell Thompson

Memorials

In Memory of Samuel H. DowdellBy Dottie Hughes

In Memory of Harold HeringBy Doris B. Hutchings

Richard M. Slaybaugh, Sr. Memorial ScholarshipBy Friends and Colleagues

Corporate Matching Gifts

ExxonMobil Foundation

On behalf of Philip Grossweiler

GE Foundation

On behalf of Edward J. WalshTheodore BeebeErnest RumbaughJerome JacobsenJohn Koshoffer

National Grid

On behalf of Connie Lausten

Williams CompanyOn behalf of

John Boehm

Melvin R. Green Codes and Standards Medal

In Memory of Charles StarmerJames T. Herrity

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K. Keith RoeChair of the Board

Chairman and President Burns and Roe Enterprises, Inc.

James F. WoodVice Chair

President and Chief ExecutiveOfficer

Babcock Power Inc.

David L. BeldenExecutive Director Emeritus, ASME

Virgil R. CarterExecutive Director, ASME

John F. ElterChief Technology Officer

Plug Power

Lee S. LangstonProfessor Emeritus, University of

Connecticut

Richard E. FeigelVice President of EngineeringHartford Steam Boiler Insp/Ins

Richard R. GriggExecutive Vice President

FirstEnergy Corp.

John C. MihmPresident

JCM Consulting

Robert E. NickellPresident

Applied Science and Technology

John A. SwansonPresident

Swanson Analysis Services, Inc.

Terry E. ShoupProfessor of Engineering

Santa Clara University

Nina WebbASME Auxiliary

Ward O. Winer Chair

School of Mechanical Engineering

Georgia Institute of Technology

Archimedes Club Observer

Lynden F. DavisConsultant

LFD Consulting

Staff

Judith KearneyDirector of Development

Warren R. LeonardExecutive Director

Michael K. WeisTreasurer

THE ASME FOUNDATION BOARD OF DIRECTORS 2006-2007


K. Keith RoeChairman and PresidentBurns and Roe Enterprises, Inc.

P.J. “Jim”Adam Jr. Chairman EmeritusBlack & Veatch Holding Co.

Adalberto Alfonso Jr. Vice PresidentFlorida Power & Light Co.

David L. BeldenExecutive Director Emeritus ASME

Stuart R. BellDean of EngineeringUniversity of Kansas

Virgil R. CarterExecutive Director ASME

Kenton Chickering III Retired Daniel Valve Co.

Jack T. CoffmanSenior Vice PresidentOklahoma Gas and Electric

D. Edward CrowRetired Pratt & Whitney

John F. ElterChief Technology OfficerPlug Power

Nancy D. FitzroyRetired General Electric

Walter R. Garrison ChairmanCDI Corp.

Richard R. GriggExecutive Vice President and ChiefOperating OfficerFirstEnergy Corp.

Robert M. GuezuragaRetiredMedtronic, Inc.

George N. HatsopoulosChairmanThermo Electron Corp.

Joseph KovachVice President, Engineering &Manufacturing TechnologyHydraulic GroupParker Hannifin Corp.

Allan E. Kukoski Director, Engineering and DesignFoster Wheeler Power Group

Kim I. Mastalio President, Energy Services DivisionBlack & Veatch

John C. MihmPresidentJCM Consulting

C. Dan Mote, Jr.PresidentUniversity of Maryland

Winfred M. Phillips Vice President and DirectorUniversity of Florida

Michael RencheckSenior Vice PresidentEngineering, Technical &Environmental ServicesAmerican Electric Power ServiceCorp.

David R. Smith Director, Production SystemsEngineering & TechnologyEastman Kodak

Richard H. Stanley ChairStanley Group

John A. Swanson PresidentSwanson Analysis Services, Inc.

Roy P. TrowbridgeRetired General Motors Corp.

Ward O. Winer ChairSchool of Mechanical Engineering Georgia Institute of Technology

James F. WoodPresident and Chief ExecutiveOfficerBabcock Power Inc.

Charles L. Wu Director, Manufacturing andVehicle Design Ford Motor Company

Warren R. LeonardExecutive DirectorThe ASME Foundation

T H E A S M E F O U N D A T I O N B O A R D O F T R U S T E E S

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F I N A N C I A L S TAT E M E N T S

STATEMENT OF ACTIVITIES

Year ended June 30, 2007(with summarized totals for the yearended June 30, 2006) Unrestricted

Temporarilyrestricted

Permanentlyrestricted

2006Total

2007Total

Operating revenueContributions $ 112,329 111,415 475,400 699,144 321,129 Interest and dividends, net ofinvestment fees of $86,045 in2007 and $92,381 in 2006 173,209 287,311 44,716 505,236 431,962

Net assets released from restrictions 392,440 (392,440) — — —TOTAL OPERATING REVENUE 677,978 6,286 520,116 1,204,380 753,091

Operating expenses (note 6)Grants 144,527 — — 144,527 156,803Contributions to ASME programs (note 3) 195,000 — — 195,000 303,400

Scholarships, awards, and honoraria 263,750 — — 263,750 263,287Development office salaries and benefits 201,950 — — 201,950 132,667Medals, plaques, and certificates 53,764 — — 53,764 37,053Occupancy and administration (note 3) 137,669 — — 137,669 87,200Professional and consulting fees 21,348 — — 21,348 26,466Reproduction, stationery, and supplies 14,482 — — 14,482 8,046Travel, postage, and other 89,899 — — 89,899 49,075 TOTAL OPERATING EXPENSES 1,122,389 — — 1,122,389 1,063,997(DEFICIENCY) EXCESS OF OPERATING REVENUE

OVER OPERATING EXPENSES (444,411) 6,286 520,116 81,991 (310,906)

Nonoperating activityAppreciation in fair value ofinvestments (note 4) 1,264,557 1,411,147 899 2,676,603 1,444,340

INCREASE IN NET ASSETS 820,146 1,417,433 521,015 2,758,594 1,133,434NET ASSETS AT BEGINNING OF YEAR 9,519,324 7,622,851 2,629,386 19,771,561 18,638,127NET ASSETS AT END OF YEAR $10,339,470 9,040,284 3,150,401 22,530,155 19,771,561

The Board of Directors

The ASME Foundation, Inc.:

We have audited the accompanying statement of financial position ofThe ASME Foundation, Inc. (the Foundation) as of June 30, 2007, andthe related statements of activities and cash flows for the year thenended. These financial statements are the responsibility of theFoundation’s management. Our responsibility is to express an opinionon these financial statements based on our audit. The prior year sum-marized comparative information has been derived from theFoundation’s 2006 financial statements, and in our report datedNovember 17, 2006, we expressed an unqualified opinion on thosefinancial statements.

We conducted our audit in accordance with auditing standards gen-erally accepted in the United States of America. Those standardsrequire that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of mater-ial misstatement. An audit includes consideration of internal controlover financial reporting as a basis for designing audit procedures thatare appropriate in the circumstances, but not for the purpose of

See accompanying notes to financial statements.

Independent Auditors’ Report

The ASME Foundation, Inc.

ASMEFndSts07:ASMEFndSts07 11/19/07 4:28 PM Page 2

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STATEMENT OF FINANCIAL POSITIONJune 30, 2007(with comparative amounts as ofJune 30, 2006) 2007 2006

AssetsCash and cash equivalents $ 44,048 119,699Student loans receivable, less allowance for doubtful accounts of$87,885 in 2007 and $90,492 in 2006 994,678 921,159

Medal inventory 159,489 183,873Investments (note 4) 21,905,950 19,139,521TOTAL ASSETS $23,104,165 20,364,252

Liabilities and Net AssetsLiabilities:Accounts payable and

accrued expenses $ 33,431 9,371Annuities payable 540,579 583,320

TOTAL LIABILITIES 574,010 592,691Net assets:Unrestricted 10,339,470 9,519,324Temporarily restricted (note 5) 9,040,284 7,622,851Permanently restricted (note 5) 3,150,401 2,629,386

TOTAL NET ASSETS 22,530,155 19,771,561TOTAL LIABILITIES AND NET ASSETS $23,104,165 20,364,252

STATEMENT OF CASH FLOWSJune 30, 2007(with comparative amounts for theyear ended June 30, 2006) 2007 2006

Cash flows from operating activitiesIncrease in net assets $2,758,594 1,133,434 Adjustments to reconcile increase in net assets to net cash provided by(used in) operating activities:

Endowment contributions and interest and dividends required to be added topermanently restricted net assets (520,116) (38,178)

Bad debt expense (2,607) (5,061) Appreciation in fair value

of investments (2,676,603) (1,444,340)Changes in assets and liabilities:

Decrease in contributions receivable — 8,949Decrease (increase) in medal inventory 24,384 (51,335)

Increase (decrease) in accounts payable and accrued expenses 24,060 (2,530)

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (392,288) (399,061)

Cash flows from investing activitiesPurchases of units in the investment pool of ASME (591,262) (1,189,567)

Sales of units in the investment pool of ASME 501,436 1,082,405

Loans issued to students (328,191) (333,834)Collection of loans from students 257,279 270,698NET CASH USED IN INVESTING ACTIVITIES (160,738) (170,298)

Cash flows from financing activitiesEndowment contributions and interest and dividends required to be added to permanently restricted net assets 520,116 38,178

Annuity payments (54,757) (30,242)Increase in annuities payable 12,016 559,876NET CASH PROVIDED BY FINANCING ACTIVITIES 477,375 567,812NET DECREASE IN CASH AND

CASH EQUIVALENTS (75,651) (1,547)Cash and cash equivalents at beginning of year 119,699 121,246

Cash and cash equivalents at end of year $ 44,048 119,699

expressing an opinion on the effectiveness of the Foundation’s inter-nal control over financial reporting. Accordingly, we express no suchopinion. An audit also includes examining, on a test basis, evidencesupporting the amounts and disclosures in the financial statements,assessing the accounting principles used and significant estimatesmade by management, as well as evaluating the overall financialstatement presentation. We believe that our audit provides a reason-able basis for our opinion.

In our opinion, the financial statements referred to above present fair-ly, in all material respects, the financial position of The ASMEFoundation, Inc. as of June 30, 2007, and the changes in its net assetsand its cash flows for the year then ended in conformity with U.S.generally accepted accounting principles.

October 12, 2007



ASMEFndSts07:ASMEFndSts07 11/19/07 4:28 PM Page 3

The ASME Foundation, Inc. Notes to Financial Statements June 30, 2007(with comparable financial information for June 30, 2006)

1. Organization

The ASME Foundation, Inc. (the Foundation) was incorporatedas a not for profit supporting organization on February 7, 1986to promote the art, science, and practice of mechanical engi-neering throughout the world, and engage in activities thatsupport ASME. The Foundation is exempt from federal incometaxes under Section 501(c)(3) of the Internal Revenue Code.

The Foundation provides the following services:• Encourages and rewards outstanding achievement in

mechanical engineering by obtaining funds for the confer-ring of honors and awards on persons and organizationswho or which have made substantial contributions to theadvancement of mechanical engineering;

• Obtains funding for scholarships, grants, and/or awards,which support and expand career opportunities or profes-sional growth in the field of mechanical engineeringthrough education and research;

• Sponsors programs and projects such as lectures, seminars,and clinics, which contribute to the continuing educationand professional growth of practicing mechanical engi-neers; and

• Supports research in mechanical engineering and the rapiddissemination of results throughout the community ofmechanical engineers.

2. Summary of Significant Accounting Policies

Basis of AccountingThe financial statements have been prepared on the accrualbasis of accounting.

Basis of PresentationThe Foundation’s net assets and revenue, expenses, gains, andlosses are classified based on the existence or absence of donorimposed restrictions. Accordingly, the net assets of the Founda-tion and changes therein are classified and reported as follows:

Unrestricted net assets. Net assets that are not subject todonor imposed stipulations.Temporarily restricted net assets. Net assets subject to donorimposed stipulations that will be met either by actions of theFoundation and/or the passage of time.Permanently restricted net assets. Net assets subject to donorimposed stipulations that they be maintained permanently bythe Foundation. Generally, the donors of these assets permitthe Foundation to use all or part of the income earned onrelated investments for general or specific purposes.Revenues are reported as increases in unrestricted net assets

unless their use is limited by donor imposed restrictions. Expens-es are reported as decreases in unrestricted net assets. Gainsand losses on investments and other assets or liabilities arereported as increases or decreases in unrestricted net assetsunless their use is restricted by explicit donor stipulation or by

law. Expirations of temporary restrictions on net assets (i.e., thedonor stipulated purpose has been fulfilled and/or the stipulat-ed time period has elapsed) are reported as net assets releasedfrom restrictions.

Medal InventoryMedal inventory is carried in the financial statements at thelower of cost, which is determined using the first in, first outmethod, or market.

Split Interest AgreementsThe Foundation receives contributions in the form of charitablegift annuities and trusts for which the Foundation is thetrustee. Such split interest agreements typically provide forpayments to a donor or their beneficiary a fixed amount for aspecified period. The time period can be for the life of thedonor or his/her designee. The assets received are recognizedat fair value when received, and an annuity payable is recordedat the present value of future cash flows expected to be paidto the donor or his/her designee based upon mortality tablesand interest assumptions. Contribution revenue is recognizedas the difference between these two amounts. Contributions,investments, and a liability to annuitants are recognized by theFoundation in the period in which the assets are donated.Adjustments to the annuity payable to reflect amortization ofthe discount and changes in the life expectancy of the donoror his/her beneficiary are recognized in the statement of activi-ties.

ContributionsContributions, which include unconditional promises to give(pledges), are recognized as revenue in the period received.

Use of EstimatesThe preparation of financial statements in conformity with U.S.generally accepted accounting principles requires managementto make estimates and assumptions that affect the reportedamounts of assets and liabilities and disclosure of contingentassets and liabilities at the date of the financial statements andthe reported amounts of revenues and expenses during thereporting period. Actual results could differ from those esti-mates.

Prior Year Comparative InformationThe financial statements are presented with 2006 comparativeinformation. With respect to the statement of activities, suchprior year information is presented in total, but not by net assetclass. Such information does not include sufficient detail to con-stitute a presentation in conformity with U.S. generally accept-ed accounting principles. Accordingly, such information shouldbe read in conjunction with the Foundation’s 2006 financialstatements from which the summarized information wasderived.

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F I N A N C I A L S TAT E M E N T S

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3. Transactions with ASME

ASME charges the Foundation for office space and other ser-vices. In 2007 and 2006, such charges totaled $137,669 and$87,200, respectively. In 2007 and 2006, the Foundation madecontributions of $195,000 and $303,400, respectively, to ASMEin support of honors and awards, and other programs.

4. Investments

The Foundation’s investments consist of an undivided interest inthe investment pool of ASME. ASME pooled investments con-sist of mutual funds, bonds and notes, common and preferredstock, money market funds and certificates of deposit. Invest-ments of the pool are recorded at fair value based upon quotedmarket prices. Realized and unrealized gains and losses are rec-ognized as changes in net assets in the periods in which theyoccur, and interest and dividends are recognized as revenue inthe period earned. At June 30, 2007 and 2006, the Founda-

tion’s interest had a cost basis of $18,907,664 and $17,457,266,respectively, and a fair value of $21,905,950 and $19,139,521,respectively.

The appreciation in fair value of investments for the yearsended June 30, 2007 and 2006 consisted of the following:

2007 2006Net realized gain on investment transactions $1,360,572 868,890

Net change in unrealized gain 1,316,031 575,450 $ 2,676,603 1,444,340

5. Temporarily and Permanently Restricted

Net Assets

Temporarily restricted net assets and the income earned on per-manently restricted net assets are restricted by donors to the fol-lowing purposes or future periods at June 30, 2007 and 2006:

2007 2006Temporarily Permanently Temporarily Permanently

restricted restricted restricted restrictedAward programs $5,398,353 1,076,491 4,918,305 1,023,949Scholarship and fellowship programs 1,746,024 2,058,910 1,121,352 1,590,437Grants and other programs 411,591 — 340,405 —College programs in power engineering 85,235 — 76,659 —U.S. engineering programs 386,550 — 336,321 —Gift annuity 348,207 — 238,238 —Student loan program 664,324 15,000 591,571 15,000

$9,040,284 3,150,401 7,622,851 2,629,386

6. Functional Expenses

The Foundation’s expenses, which are reported by natural classi-fication in the accompanying statement of activities, benefitedthe following program and supporting services for the yearsended June 30, 2007 and 2006:

2007 2006Program services:Awards $449,184 508,959Grants 144,527 156,803Scholarships and fellowships 195,956 188,056Student loan program 36,209 10,144

825,876 863,962Management and general 82,886 67,368Development 213,627 132,667

$1,122,389 1,063,997

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In 2007, the Foundation received a $300,000 contribution from The Willis Thompson Memorial Scholarship Fund. This contribution isincluded in permanently restricted net assets and will be used to establish a scholarship for students deemed worthy, at the discretionof the Foundation, who are studying in the field of mechanical engineering, with preference given to students that are particularlyinterested in the development of power generation.

ASMEFndNotes07:ASMEFndNotesFntRev2 11/19/07 4:26 PM Page 3

Produced by ASME Communications and Creative Services.

The ASME Foundation Three Park AvenueNew York, NY 10016-5990 U.S.A.212-591-7000www.foundation.asme.org

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