Risk, Return and Social Impact: Demystifying the Law of Mission Investing by U.S. Foundations

Discusses in detail the legal aspects of mission-related investing, including federal and state fiduciary laws, foundations' fiduciary responsibility, and emerging practices, and makes recommendations. Includes examples of investments and case studies

A Brief Guide to the Law of Mission Investing for U.S. Foundations

U.S foundations have considerable freedom to invest their assets in ways that further their missions, even at greater risk or lower financial return. The legal framework that governs the investment of foundation assets is both complex and ambiguous, however, with the result that many foundation leaders and investment advisors are unclear about what is legally permissible. Anne Stetson and Mark Kramer of FSG have prepared two reports, in consultation with nationally-recognized legal experts and senior foundation officers, analyzing the federal tax and state fiduciary laws as they apply to US foundations. In addition to legal analysis, the reports provide practical recommendations as to how foundations can best navigate these laws in making mission-related or program-related investments. A Brief Guide to the Law of Mission Investing for U.S. Foundations is a short 18 page booklet, suitable for foundation staff and boards, as well as their advisors, explaining in non-technical language the factors foundations must consider in making mission investments

Alloyed coatings for dispersion strengthened alloys

Processing techniques were developed for applying several diffusion barriers to TD-Ni and TD-NiCr. Barrier coated specimens of both substrates were clad with Ni-Cr-Al and Fe-Cr-Al alloys and diffusion annealed in argon. Measurement of the aluminum distribution after annealing showed that, of the readily applicable diffusion barriers, a slurry applied tungsten barrier most effectively inhibited the diffusion of aluminum from the Ni-Cr-Al clad into the TD-alloy substrates. No barrier effectively limited interdiffusion of the Fe-Cr-Al clad with the substrates. A duplex process was then developed for applying Ni-Cr-Al coating compositions to the tungsten barrier coated substrates. A Ni-(16 to 32)Cr-3Si modifier was applied by slurry spraying and firing in vacuum, and was then aluminized by a fusion slurry process. Cyclic oxidation tests at 2300 F resulted in early coating failure due to inadequate edge coverage and areas of coating porosity. EMP analysis showed that oxidation had consumed 70 to 80 percent of the aluminum in the coating in less than 50 hours

Development of Coatings for Tantalum Alloy Nozzle Vanes

A group of silicide coatings developed for the T222 tantalum-base alloy have afforded over 600 hours of protection at 1600 and 2400 F during cyclic exposure in air. These coatings were applied in two steps. A modifier alloy was applied by slurry techniques and was sintered in vacuum prior to siliciding by pack cementation in argon. Application of the modifier alloy by pack cementation was found to be much less effective. The addition of titanium and vanadium to molybdenum and tungsten yielded beneficial modifier alloys, whereas the addition of chromium showed no improvement. After siliciding, the 15Ti- 35W-15V-35Mo modifier alloy exhibited the best performance; one sample survived 1064 hours of oxidation at 2400 F. This same coating was the only coating to reproducibly provide 600 hours of protection at both 1600 and 2400 F; in the second and third of three experiments, involving oxidation of three to five specimens at each temperature in each experiment, no failures were observed in 600 hours of testing. The slurry coatings were also shown to protect the Cb752 and D43 columbium-base alloys

Advanced ceramic coating development for industrial/utility gas turbines

A program was conducted with the objective of developing advanced thermal barrier coating (TBC) systems. Coating application was by plasma spray. Duplex, triplex and graded coatings were tested. Coating systems incorporated both NiCrAly and CoCrAly bond coats. Four ceramic overlays were tested: ZrO2.82O3; CaO.TiO2; 2CaO.SiO2; and MgO.Al2O3. The best overall results were obtained with a CaO.TiO2 coating applied to a NiCrAly bond coat. This coating was less sensitive than the ZrO2.8Y2O3 coating to process variables and part geometry. Testing with fuels contaminated with compounds containing sulfur, phosphorus and alkali metals showed the zirconia coatings were destabilized. The calcium titanate coatings were not affected by these contaminants. However, when fuels were used containing 50 ppm of vanadium and 150 ppm of magnesium, heavy deposits were formed on the test specimens and combustor components that required frequent cleaning of the test rig. During the program Mars engine first-stage turbine blades were coated and installed for an engine cyclic endurance run with the zirconia, calcium titanate, and calcium silicate coatings. Heavy spalling developed with the calcium silicate system. The zirconia and calcium titanate systems survived the full test duration. It was concluded that these two TBC's showed potential for application in gas turbines

Internal coating of air-cooled gas turbine blades

Four modified aluminide coatings were developed for IN-792 + Hf alloy using a powder pack method applicable to internal surfaces of air-cooled blades. The coating compositions are Ni-19Al-1Cb, Ni-19Al-3Cb, Ni-17Al-20Cr, and Ni-12Al-20Cr. Cyclic burner rig hot corrosion (900 C) and oxidation (1050 C) tests indicated that Ni-Al-Cb coatings provided better overall resistance than Ni-Al-Cr coatings. Tensile properties of Ni-19Al-1Cb and Ni-12Al-20Cr coated test bars were fully retained at room temperature and 649 C. Stress rupture results exhibited wide scatter around uncoated IN-792 baseline, especially at high stress levels. High cycle fatigue lives of Ni-19Al-1Cb and Ni-12Al-20Cr coated bars (as well as RT-22B coated IN-792) suffered approximately 30 percent decrease at 649 C. Since all test bars were fully heat treated after coating, the effects of coating/processing on IN-792 alloy were not recoverable. Internally coated Ni-19Al-1Cb, Ni-19Al-3Cb, and Ni-12Al-20Cr blades were included in 500-hour endurance engine test and the results were similar to those obtained in burner rig oxidation testing

Report on Atlantis cruise # 266, June-July 1961

Originally issued as Reference No. 61-35, series later renamed WHOI-The data collected on ATLANTIS Cruise 266 has been tabulated and presented here as an aid to the preparation of rnanuscripts. The Chief Scientist's log is reproduced in narrative form. The current meter, camera, and dredge stations, as well as the continuous seismic profiles, are located and deck notes reproduced. Included are photographs of models of the areas visited.Submitted to Bureau of Ships, under Contract NObsr 7252

Internally coated air-cooled gas turbine blading

Ten candidate modified nickel-aluminide coatings were developed using the slip pack process. These coatings contain additives such as silicon, chromium and columbium in a nickel-aluminum coating matrix with directionally solidified MAR-M200 + Hf as the substrate alloy. Following a series of screening tests which included strain tolerance, dynamic oxidation and hot corrosion testing, the Ni-19A1-1Cb (nominal composition) coating was selected for application to the internal passages of four first-stage turbine blades. Process development results indicate that a dry pack process is suitable for internal coating application resulting in 18 percent or less reduction in air flow. Coating uniformity, based on coated air-cooled blades, was within + or - 20 percent. Test results show that the presence of additives (silicon, chromium or columbium) appeared to improve significantly the ductility of the NiA1 matrix. However, the environmental resistance of these modified nickel-aluminides were generally inferior to the simple aluminides

Surface Brightness and Stellar Populations at the Outer Edge of the Large Magellanic Cloud: No Stellar Halo Yet

We present a high quality CMD for a 36'x 36' field located 8 degrees (7 kpc) from the LMC center, as well as a precise determination of the LMC surface brightness derived from the resolved stellar population out to this large galactocentric radius. This deep CMD shows for the first time the detailed age distribution at this position, where the surface brightness is V=26.5 mag/sq". At a radius R=474' the main sequence is well populated from the oldest turnoff at I=21.5 to the 2.5 Gyr turnoff at I=19.5. Beyond this radius, a relatively strong gradient in the density of stars with ages in the 2.5-4 Gyr range is apparent. There are some stars brighter and bluer than the main population, quite uniformly distributed over the whole area surveyed, which are well matched by a 1.5 Gyr isochrone and may be indicative of a relatively recent star formation, or merger, event. The surface brightness profile of the LMC remains exponential to this large galactocentric radius and shows no evidence of disk truncation. Combining the information on surface brightness and stellar population we conclude that the LMC disk extends (and dominates over a possible stellar halo) out to a distance of at least 7 kpc. These results confirm that the absence of blue stars in the relatively shallow off-center CMDs of dIrr galaxies is not necessarily evidence for an exclusively old stellar population resembling the halo of the Milky Way.Comment: ApJLett, in press 13 pages including 3 color figure