In 2005, the American Chemical Society produced a report called The Chemical Enterprise in 2015. This report foresaw that the coming decade — years in which the scientific world would meld and the global economy would expand — as one of extraordinary transformation and unprecedented challenges.
Looking back, little did we know how monumentally transforming and challenging those changes would be and how rapidly they would occur.
As we conclude 2010 — still five years short of the report’s projected timeline — much of what was predicted in it has come to pass and, based on its recommendations, we have positioned the Society to remain at the forefront of the chemistry enterprise and have developed a broad array of new programs and services to meet our members' evolving needs.
And yet, so much that has happened in the past two years — particularly the unexpected global economic downturn — has left many of our members trying to make sense of it all. As they look to ACS for guidance and support in these difficult times, we find ourselves drawing strength from the conclusions of that 2005 report as well as other forward-looking documents such as the ACS Strategic Plan.
As we move forward, ACS members can rest assured that their Society has faced challenges head-on and we continue to provide the important programs, products, and services they value and rely upon to advance their careers and improve people’s lives. We remain poised to address future challenges in constructive ways.
With that in mind, we are pleased to report that ACS ended 2010 with many mission-related accomplishments and in a sound financial position. Stable revenues and a continued focus on rigorous expense management contributed to a seventh consecutive year of positive net contribution from operations. In addition, the combination of strong operating results and favorable capital market returns bolstered the Society’s financial position by increasing unrestricted net assets. The Board of Directors has made several important decisions over the past two years to ensure the Society’s continued financial sustainability. As a result, ACS is well positioned for the future.
Joseph S. Francisco
Bonnie A. Charpentier
Board of Directors