Biophysical Newsletter - April 2014

4

BIOPHYSICAL SOCIETY NEWSLETTER

2014

APRIL

Treasurer’s Report

At the end of each fiscal year, which runs from July 1-June 30, the Society’s finances undergo an audit. The fiscal year ending 2013 (FYE13) audit was conducted in August 2013 and presented to Council at its October 2013 meeting. This audit showed that Society operations resulted in net revenue of $459,280, not including interest and dividends from reserves. This revenue reflects the continued growth of the Society as well as efficient control of overall costs. The full audit is available online at http://www.biophysics.org/AboutUs/ Committees/Finance/tabid/472/Default.aspx. Society Reserves As has been done in past years, a majority of the net revenues from FY13 are being moved to the professionally managed reserves. The purpose of these reserves is to ensure that the Society has sufficient funds to operate in spite of catastrophic events such as a precipitous decline in meeting attendance due to a blizzard. The Society’s net assets (chiefly in reserves) grew from $9,651,927 at the end of FYE12 to $11,177,742 at the end of FYE13, due to the transfer of net revenues into reserves, and gains in the stock market. As prescribed by Council, the average reserve balance over the last three years is now sufficient to cover the operational expenses projected for FY14. Working for Its Members Members increasingly turn to their professional societies for support and services during diffi- cult economic times. The Society is continually updating its website (www.biophysics.org) to help members learn about Society programs and take full advantage of Society membership. We have been working with Cell Press to maintain the ex-

cellence of Biophysical Journal and increase its im- pact. To that end, members are offered reduced page charges and online color figures without charge. Students, postdoctoral fellows, and un- derrepresented minority scientists were given 162 travel, poster, society and science fair awards in FY13. The Society recently sponsored four very successful thematic meetings in China, India, Ko- rea, and Maine, with four more meetings planned in the near future. Ten grants were awarded to Society members throughout the world for local networking events. The Public Affairs committee promotes diverse activities to help educate those in the government and various agencies about the importance of research funding for biophysics. The Society will be choosing and sponsoring a AAAS fellow to work with a member of Congress and make sure that the science is understood and represented in the legislative process. Outlook The Biophysical Society has continued to flourish even in financially challenging times. The San Francisco Annual Meeting attracted the highest number of abstracts ever (4,514) and nearly 7,000 attendees. Membership continues to be strong with 8,531 members in 2013. The Society has seen an increase in the percentage of membership from outside the US, which now stands at nearly 35%. We attribute this success to our focus on the core mission of encouraging the development and dissemination of knowledge in biophysics. The Finance Committee and Council will contin- ue to monitor the Society’s fiscal health diligently to ensure continued success.

Paul Axelsen Treasurer