The American Chemical Society Board of Directors has approved a 2018 operating budget with projected revenues of $559.3 million—an increase of $23.2 million over the projected results for 2017—and a net contribution of $29.6 million. This translates into an overall return on revenue from core operations of 5.5%, which is within the board’s financial guidelines.
The board, which met on Dec. 1–2 in Washington, D.C, also approved a capital budget of $36.4 million, a decrease of $1.5 million over 2017.
In other actions, the board elected John E. Adams, Curators’ Distinguished Teaching Professor Emeritus at the University of Missouri, as board chair for 2018. Adams succeeds Pat Confalone, who has served as chair since 2015.
“I want to make sure we focus on the strategic direction of the society, and that we’re deploying the human and financial assets of ACS in the most efficient way possible,” Adams tells C&EN.
At the board meeting, Paul W. Jagodzinski and Dorothy J. Phillips were elected to fill terms on its executive committee. Jagodzinski will fill a two-year term, and Phillips will fill a one-year term.
In other actions, the board approved modifications to the ACS Strategic Plan for 2018 & Beyond. Goal 1 has been modified to read: Provide Information Solutions: deliver indispensable chemistry-related information and solutions and to address issues facing the world’s scientific community.” Goal 2 has been modified to read: Provide access to opportunities, resources, skills training, and networks to empower our members and member communities to thrive in the global economy.
The board also approved an ACS Science & Human Rights Recognition honoring Scholars at Risk; the continuation of the Shanghai and Thailand International Chemical Sciences Chapters; amendments to the Board Regulations on the ACS Green Chemistry Institute Governing Board; and several recommendations from the Financial Planning Conference conducted in November 2017 to strengthen and update financial guidelines.
The board approved a “future state model” for the Board Standing Committee on Corporation Associates, which strengthens the committee’s role as the nexus between ACS and the chemical industry and authorizes the committee to form topical forums to address issues facing corporations in the chemical enterprise.