Year 2003 EMC Society Financial Summary

The financial good news is that the EMC Society’s 2003 operations yielded a net surplus of $235,000. The major factor contributing to that surplus was the “up-turn” in the finance market. The 2003 surplus represents about a 50% recovery of the combined 2001 and 2002 deficits. The Society’s 10-year financial history is reflected in the surplus/deficit bar graph. (Please note all amounts are shown in US Dollars.)


EMC Society 2003 revenue was $826,000. Of that total, Periodical sales income was $265,000; Newsletter ads provided $71,000; Conference surplus (from the 2002 Symposium) contributed $231,000; revenue from Member fees was $92,000 and Market Fluctuation was a positive $167,000 (in effect, this market gain covered all IEEE administration and infrastructure costs). The 2003 income pie chart below reflects the percentage, of the total, for each revenue category. EMC Society 2003 expenses (excluding symposium finances that are administered by the symposium Treasurer) were $587,000. Of that total, Periodical production and distribution costs were $133,000; the Newsletter cost $151,000 to print and distribute (a one time added expense was incurred for two symposium issues in 2003 - Istanbul and Boston); Society committee expenses were $150,000; and, IEEE administrative support/infrastructure costs were $153,000. The 2003 expense pie chart below indicates the percentage of the total expenses for those cost categories. EMC


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