Report from the Society Committee on Budget and Finance

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Presentation transcript:

Report from the Society Committee on Budget and Finance Denver, CO March 25, 2015 American Chemical Society

2014 Financial Highlights Net from Operations – $17.9M $4.2M favorable Total Revenues – $499.0M $0.7M or 0.1% favorable Total Expenses – $481.1M $3.5M or 0.7% favorable Unrestricted Net Assets – $144.7M Decrease from $207.0M at Dec. 31, 2013 Note: Excludes the ACS Petroleum Research Fund and the Member Insurance Program. American Chemical Society

Net from Operations 2014 Actuals ($ in Millions) Information Services Investments Net Dues Revenue All Other Office of Public Affairs Web Strategy & Operations Education Membership & Scientific Advancement Net From Operations Note: Information Services includes CAS and ACS Publications. All Other includes Unallocated Indirect Costs, Development, Grants and Awards, Governance, HDS, and ACS International Ltd. Net from Operations excludes the ACS Petroleum Research Fund and the Member Insurance Program. American Chemical Society

Unrestricted Net Assets 2010 – 2014 Actuals ($ in Millions) Net from Operations $ 17.9M Investment Gains 13.5M PRBP Acct. Charge (93.7M) Total Decrease ($62.3M) Note: Excludes the ACS Petroleum Research Fund and the Member Insurance Program. PRBP = Postretirement Benefit Plans. American Chemical Society

At www.acs.org The Society’s 2014 audited financial statements were posted on the ACS public website on March 10. If you are interested in reviewing them, just go to the home page at www.acs.org and click on “About Us” in the bottom right hand of the main site (CLICK) Step #1 5 5

At www.acs.org Step #2 Once at the “About Us” page, then click on “ACS Financial Information”. For comparison purposes, we have 5 years of statements available on the site. Also available on this site are the Frequently Asked Questions associated with the finances of the Society. (CLICK) 6

2016 Fully Escalated Dues Calculation 2015 Dues Rate x CPI $158.00 x 1.0249 = $161.94 $162.00 American Chemical Society

Dues Comparison with Other Scientific Societies - 2015 This slide compares the 2015 dues rate for several other scientific societies. With a dues rate of $158.00, the American Chemical Society is just about in the middle of this peer group of the Scientific Societies in this sampling, and would remain there even with the $4.00 dues increase for 2016. (CLICK) American Chemical Society

2016 Fully Escalated Dues Calculation 2015 Dues Rate x CPI $158.00 x 1.0249 = $161.94 $162.00 The Society Committee on Budget and Finance recommends to Council that the 2016 dues be set at the fully escalated rate of $162. American Chemical Society

Report from the Society Committee on Budget and Finance Denver, CO March 25, 2015 American Chemical Society