BIOPHYSICAL SOCIETY NEWSLETTER
4
APRIL
2014
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
/
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 (
) 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
