Despite challenging economic conditions, the American Chemical Society (ACS) ended 2012 with favorable operating results by generating a net contribution of $16.4 million. In addition, total revenues increased 3.6 percent over 2011 with record operating results from ACS’s information services divisions (Chemical Abstracts Service and ACS Publications) driving the increase. The 2012 financial results represent the ninth consecutive year of positive net contribution. The Society’s strong operating performance was attributable to a combination of outstanding financial performance from the information services divisions and a continued emphasis on expense management across all operating units.
Despite the positive operating results and sizable investment gains, the ACS’s financial position weakened slightly from 2011. Unrestricted net assets declined from $139.5 million in 2011 to $138.8 million at December 31, 2012. The decrease is primarily attributable to two factors: non-cash accounting charges related to the Society’s underfunded postretirement benefit plans (i.e., defined benefit pension plan and retiree medical plan); and settlement of the Leadscope case in September 2012.
In furtherance of its mission “to advance the broader chemistry enterprise and its practitioners for the benefit of Earth and its people,” ACS continues to invest heavily in its information services units. These investments are made to strengthen the Society’s position as the world’s most trusted and comprehensive source for chemistry-related information. In support of this goal, in 2012, ACS added 5 million new small molecules to the CAS Registry℠, indexed more than 1.4 million articles and patents, and added more than 9 million reactions to CASREACT®. SciFinder® had four major releases and the first version of the new STN®, powered by the Search Engine of Tomorrow (SPOT), was released. ACS journals continued their preeminence in citations and Impact Factors, receiving more than 2 million citations and posting a #1 ranking in either Impact Factor and/or Total Citations in 16 categories as reported in the 2011 Journal Citation Reports® released in June 2012. ACS Publications undertook the first full calendar year of publication of two new titles: ACS Macro Letters and ACS Synthetic Biology.
Looking ahead, the Society intends to enthusiastically pursue the goals set out in its Strategic Plan for 2013 and Beyond. Whether providing information resources, advancing member careers, improving education or communicating chemistry’s value, ACS remains firmly committed to providing indispensable programs, products and services. In this way, ACS will enhance the Society’s value and relevance to its diverse stakeholders, including members, educators, public policy makers and other chemistry professionals.
To access ACS audited financial statements and IRS Form 990 returns, visit the ACS website. Click the About Us tab, scroll down and click on the link to ACS Financial Information, or view the page here.