ANNUAL
REPORT 2019
New partners, dramatic growth, ground-breaking achievements
2019 was an amazing year for The Electrochemical Society. From new beginnings and partnerships to unprecedented growth in publications and meetings—and longtime ECS members being recognized for ground-breaking achievements—the Society’s vision and mission advanced dramatically through the efforts of our community— volunteers, members, constituents, and staff.” – Christopher J. Jannuzzi Executive Director & CEO
Get the latest ECS news at www.electrochem.org 2
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
YEAR IN REVIEW New Beginnings
A
defining aspect of ECS’s legacy and reputation is its preeminence as a technical publisher in the field of electrochemical and solid state sciences. To adapt to a changing publishing world, and to ensure our ongoing preeminence, ECS launched a new publishing partnership with the Institute of Physics Publishing (IOPP). IOPP is more than a vendor supporting ECS’s publishing operations. An outstanding technical publisher, IOPP shares our commitment to ensuring the technical quality of the works published, and the integrity and validity of peer review by the ECS community. The entire ECS Digital Library, including The Journal of the Electrochemical Society and the ECS Journal of Solid State Science and Technology, now resides on IOPscience, IOPP’s industry-leading platform for publishing and disseminating world-class scientific content.
Giants Among Us! One of the year’s highlights—frankly, of any year in ECS’s storied history—was the announcement, just days before the 236th ECS Meeting, that long-standing ECS members John Goodenough, M. Stanley Whittingham, and Akira Yoshino received the 2019 Nobel Prize in Chemistry “for the development of Lithium-ion batteries.” This is fitting recognition for the truly groundbreaking advancements these pioneers made to our field and the whole of humanity. Simply put, their research is the enabling science upon which the solutions to the grand challenges facing the planet—renewable energy, clean transportation, communications, to name but a few—are based. The ECS community is honored to count their nearly 60 years of combined membership among our ranks.
Strong Performance Operationally, the Society had an extremely successful year, improving performance across the majority of important indicators: • Membership rose 6% over 2018 figures to 8,771 • For the first time, journal submissions surpassed 4,000 (4,096), resulting in nearly 2,000 (1,955) articles published, and 3.5M downloads • Meeting attendance (4,710 total attendees) and submissions were very strong; over 2,285 abstracts were submitted for the 235th meeting, and 2,521 for the 236th meeting The credit goes to ECS’s professional core. From the Pennington, NJ, base, they directed the organization’s critical operations effectively, while significantly reducing operating expenses. This is a testament to the volunteer/ staff partnership which is a hallmark of ECS and a key element of our sustained success. Simply put, ECS would not, could not, exist without the volunteers, members, and other constituents like you who give their time, talent, and energy to our collective cause. Thank you.
Christina Bock ECS President Spring 2019-Spring 2020 Christopher Jannuzzi Executive Director and CEO
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
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Copyright © The Nobel Foundation.
2019
John Goodenough, M. Stanley Whittingham, and Akira Yoshino share the NOBEL
Giants Among Us
G
PRIZE IN CHEMISTRY
oodenough, Whittingham, and Yoshino’s extensive publications with ECS are curated in the 2019 Nobel Laureates in Chemistry collection, which highlights their scientific contributions and traces the history of the development of the lithium-ion battery—the revolutionary invention for which they shared the Nobel.
ECS and Goodenough, Whittingham, and Yoshino
John Bannister Goodenough
Goodenough received the ECS Honorary Member Award in 2013.
John Goodenough receives ECS Honorary Membership award in 2016.
View Masters Series 2016 Goodenough Interview
John B. Goodenough receiving his Nobel Prize from H.M. King Carl XVI Gustaf of Sweden at Konserthuset Stockholm on December 10, 2019. © Nobel Media. Photo: Alexander Mahmoud
ECS Honors and Awards • ECS Fellow (2016) • ECS Olin Palladium Award (1999) ECS Publications • 33 JES articles (1982-2020) • 3 Interface articles (2016-2019) • 2 ECS Transactions articles (2007, 2013) • 5 Electrochemical and Solid-State Letters articles (1999-2009) • ECS Masters – John B. Goodenough, The Electrochemical Society, 2016 • ECS Podcast – The Battery Guys, The Electrochemical Society, 2016
M. Stanley Whittingham
Whittingham became an ECS member in 1970. He was honored with ECS Emeritus Member status in 2015. ECS Honors and Awards • ECS Fellow (2004) • ECS Battery Division Research Award (2002) • ECS Young Author Award (1971) ECS Publications • 24 JES articles (1971-2019) • 2 Interface articles (2019) • 6 Electrochemical and Solid-State Letters articles (1999-2010) • ECS Masters – M. Stanley Whittingham, The Electrochemical Society, 2015 • ECS Podcast – The Battery Guys, The Electrochemical Society, 2016
ECS Meetings Goodenough gave his first talk at the fall 1984 meeting in New Orleans, LA. From 1984 to 2018, he delivered some 45 ECS meeting presentations, many in collaboration with students in his research group. Goodenough presented “Electrochemistry and Energy Conversion” when he received the ECS Olin Palladium Award at the fall 1999 meeting in Honolulu, HI. His talk at the 25th Silver Anniversary of the Lithium-ion Battery symposium at PRiME 2016 was “Solid Electrolytes and Metallic Lithium Anodes.” View Masters Series 2015 Whittingham Interview
H.M. King Carl XVI Gustaf of Sweden presents the Nobel Prize to M. Stanley Whittingham at Konserthuset Stockholm on December 10, 2019. © Nobel Media. Photo: Nanaka Adachi 4
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
The three long-standing ECS members shared the 2019 Nobel Prize “for the development of Lithium-ion batteries.” Goodenough, Whittingham, and Yoshino have almost 60 combined years of ECS membership. John B. Goodenough
Whittingham at ECS Meetings (cont.) From 1970 to 2019, Whittingham delivered some 50 ECS meeting presentations. The first, “Transport Properties of Silver Beta Aluminum,” co-authored with Robert Huggins, was presented at the 1970 fall meeting in Atlantic City, NJ. Other significant presentations include one of his first talks on intercalation, given at the spring 1977 meeting in Philadelphia, PA.; and his talk as recipient of the ECS Battery Research Award at the 2002 fall meeting in Salt Lake City, UT. For the 25th Silver Anniversary of the Lithium-ion Battery symposium at PRiME 2016, he presented “The Introduction of Intercalation into Battery Science: 1968-1990.” Whittingham was notified of his Nobel Prize the week before the fall 2019 ECS meeting in Atlanta, GA, where he gave a keynote address in a symposium dedicated to Robert Huggins.
M. Stanley Whittingham received a standing ovation at the fall 2019 ECS meeting's plenary session.
Akira Yoshino
M. Stanley Whittingham
Photo: The University of Texas at Austin
Photo: Robb Cohen Photo & Video
Akira Yoshino Photo: Asahi Kasei
Yoshino's ECS Honors and Awards • ECS Battery Division Technology Award (1999) ECS Publications • 1 JES article (2004) • 2 Interface articles (2019) ECS Meetings Yoshino received the 1999 ECS Battery Technology Award at the fall 1999 meeting in Honolulu, HI. His award presentation, “Development of Lithium Ion Battery,” covered his work with polyacetylene and carbonaceous materials in pursuit of a commercially feasible rechargeable battery.
Chemistry Laureate Akira Yoshino at the Nobel Prize Museum. © Nobel Media. Photo: Nanaka Adachi
Yoshino became an ECS member in 1999. He was honored with ECS Emeritus Member status in 2019.
ADDITIONAL INFORMATION To learn more about Goodenough, Whittingham, and Yoshino, visit ‟ECS and Nobel Prize Winners.ˮ
Akira Yoshino receiving his Nobel Prize from H.M. King Carl XVI Gustaf of Sweden at Konserthuset Stockholm on December 10, 2019. © Nobel Media. Photo: Nanaka Adachi
ECS is proud that through its long history, it has been the scientific home of many winners of the Nobel Prize, the most prestigious award presented to researchers.
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
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Volunteer Leadership ECS Mission The mission of The Electrochemical Society is to advance theory and practice at the forefront of electrochemical and solid state science and technology, and allied subjects. To encourage research, discussion, critical assessment, and dissemination of knowledge in these fields, the Society holds meetings, publishes scientific papers, fosters training and education of scientists and engineers, and cooperates with other organizations to promote science and technology in the public interest.
ECS Vision
ECS Board of Directors
The vision of ECS is to be recognized as the steward of electrochemical and solid state science and technology. By creating uninhibited availability of the science through open access, ECS can Free the Science, and accelerate scientific discovery and innovation, leading the community as the advocate, guardian, and facilitator of our technical domain.
(as of December 31, 2019)
Officers Christina Bock, President National Research Council of Canada
Division Chairs Marca Doeff, Battery Divison Masayuki Itagaki, Corrosion Division
Stefan De Gendt, Sr.Vice President Katholieke Universiteit Leuven Eric Wachsman, 2nd Vice President University of Maryland Turgut Gur, 3rd Vice President Stanford University James Fenton, Secretary University of Central Florida
Thank You ECS gratefully acknowledges the outstanding volunteer service of our standing committees, editorial board members, and division chairs. Thank you to those members finishing their terms of service in 2019.
Vimal Chaitanya, Dielectric Science and Technology Division Philippe Vereecken, Electrodeposition Division Junichi Murota, Electronics and Photonics Division Vaidyanathan Subramanian, Energy Technology Division Paul Gannon, High-Temperature Energy, Materials, and Processes Divison John Staser, Industrial Electrochemistry and Electrochemical Engineering Division Jakoah Brgoch, Luminescence and Display Materials Division
Gessie Brisard, Treasurer Universite de Sherbrooke
Slava Rotkin, Nanocarbons Division
Christopher Jannuzzi Executive Director & CEO The Electrochemical Society
Petr Vanýsek, Physical and Analytical Electrochemistry Division
Diane Smith, Organic and Biological Electrochemistry Division
Ajit Khosla, Sensor Division
Awards
$78,000 awarded for
6
• 22 division awards • 9 section awards • 6 society awards
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Fellows of The Electrochemistry Society inducted The Electrochemical Society • 2019 Annual Report • www.electrochem.org
Membership ECS members selected Joan Berkowitz as the first female president 40 years ago, showing we are a Joan Berkowitz forward-thinking society. Today our diversity statement articulates what ECS stands for. Diversity fosters change and innovation—and guides the future we’re all working towards.ˮ – Christina Bock, ECS President ECS member since 1994
62%
8,771
Overall membership retention rate
Individual members 6% increase over 2018
Diversity and Inclusion The Electrochemical Society strives to be an inclusive organization that promotes and values diversity. We recognize and respect the rights of all, and are committed to building and maintaining a culture that encourages, supports, and celebrates the unique backgrounds and experiences of our members, volunteers, employees, and constituents. Diversity is our strength. It fuels innovation, enhances collaboration, enables our best accomplishments, brings us closer to the communities we serve, and advances our mission to promote electrochemical and solid state science worldwide.
12
student chapters for a total of 93
12% increase in
student members from 2018
The same people always return to ECS meetings because the people involved with ECS tend to be lifetime members. You can rely on seeing the same people at fall and spring meetings, catching up with them, forming a kind of bond. It’s more than just networking. It’s almost a family.” – Alice Suroviec, ECS member since 2002 The Electrochemical Society • 2019 Annual Report • www.electrochem.org
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Meetings ECS meetings are an opportunity to share my research and meet some of the founding Telpriore Tucker members who are pioneers in the field. I can network and get insights from our field’s living legends.”
– Telpriore Tucker ECS member since 2007
$50,206
$103,499
235th ECS Meeting Symposia Funding
236th ECS Meeting Symposium Funding ECEE 2019 attendees, Scotland
455 2,195
2,515
235th ECS Meeting attendees
236th ECS Meeting attendees
ECS has been my home for 38 years. I came here first as a grad student. It had such a powerful impact on my career, my learning, my growth—and also getting a community of family and friends.ˮ – E. Jennings Taylor, ECS member since 1978 8
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
Publications Through 2019, ECS prepared to launch a new partnership with IOP Publishing—with IOPscience as the ECS Digital Library’s new home—in January 2020. Together, ECS and IOPP bring over 200 years of excellence in scientific publishing to advancing theory and practice at the forefront of electrochemical and solid state science and technology, and allied subjects.
1,627
o USA – 269 o Germany – 90 o Japan – 89in 2019 articles published o volume Chinayear – 70 o Canada – 57 o Other – 235
Open access papers published in 2019 (by country)
235
328
57 70
articles published in 2019 volume year
1,955
Total journal articles published in 2019 volume year
2,000 1,209 institutional subscribers Over
41%
of 2019 journal articles are open access
For the first time, over
4,000 journal submissions
ECS Plus subscribing institutions
269
89
USA Germany Japan
90
China Canada Other
Over
37%
of journal articles published since 2014 are open access
3.5 Million
articles and abstracts downloaded from the ECS Digital Library Jeff Dahn Research Group’s ‘A Wide Range of Testing Results on an Excellent Lithium-Ion Cell Chemistry to be used as Benchmarks for New Battery Technologies’ had 37,416 downloads in 2019. This substantiates JES’ high quality and importance. With IOPscience, ECS brings the most important research to the widest audience.”
– Doron Aurbach, ECS member since 1983
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
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Innovation Everybody I know in the field, all my collaborators, are involved in ECS to some degree or another. I couldn’t imagine my professional life without the Society.ˮ
Marca M. Doeff
– Marca M. Doeff, ECS Battery Division Chair, fall 2018-spring 2020
Member since 2014
Free the Science Week 2019 – April 1-7, 2019 Over
Unrestricted access to
151,000+ scientific articles and abstracts
62%
of visitors (39,380) were new in the ECS Digital Library
14,370
Free the Science blogs received
Total usage across all ECS publications in April increased by
30%
over the 2019 first-quarter monthly average
unique page views
365,000+ full-text articles were downloaded in April 2019, exceeding download totals for April 2017 and April 2018
As a board member and someone who cares about the Society expanding its audience, I felt that there are many activities going on in applying electrochemistry in space, and the uniqueness of the space environment merited a special symposium.ˮ – Greg Jackson, ECS member since 1999 10
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
Next Generation Activities and Support
Yang Wang
Early career scientists from outside the U.S. often do not have the budget to attend international conferences. The travel grant made it possible for me to attend the 236th ECS Meeting. It was very important to access a group of well-known scientists in my area and get ‘sparks’ from their talks…Thank you!ˮ
– Yang Wang ECS member since 2018
$250,000 ECS Toyota Young Investigator Fellowship funding for 2019-2020
$72,705 Total
$20,300 in student chapter memberships awarded
$24,000+ provided in student chapter funding for community outreach and chapter programs awarded in biannual meeting travel grants
$10,000 in summer fellowship awards
Prof. Neil Dasgupta, University of Michigan, received a 2019-2020 ECS Toyota Young Investigator Fellowships for innovative electrochemical research in green energy technology. The Electrochemical Society • 2019 Annual Report • www.electrochem.org
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2019 Society Honor Roll ECS has a vibrant awards program that focuses both on rewarding scientific achievement, and on impressive educational achievements and service to the broad electrochemistry and electrochemical engineering communities.”
Shelley Minteer
– Shelley Minteer, Chair, ECS Honors & Awards Committee ECS member since 1996
PAST PRESIDENT OF THE SOCIETY Yue Kuo, 2018-2019
SOCIETY AWARD WINNERS Allen J. Bard Award in Electrochemical Science Héctor Abruña Gordon E. Moore Medal for Outstanding Achievement in Solid State Science & Technology David Lockwood Olin Palladium Award of the Electrochemical Society Shimshon Gottesfeld Carl Wagner Memorial Award of the Electrochemical Society John Weidner
FELLOWS OF THE ELECTROCHEMICAL SOCIETY Alison Davenport Vito Di Noto Hubert Girault Takayuki Homma Paul Kenis Jun Liu Flavio Maran Michael Perry Larry Nagahara Michael Perry Thomas Schmidt Alok Srivastava Han Kook Sun Joseph Wang Masayoshi Watanabe Yushan Yan Outstanding Student Chapter Award University of Calgary Chapters of Excellence Lewis University Technical University Munich
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ECS TOYOTA YOUNG INVESTIGATOR FELLOWSHIPS Nemanja Danilovic Neil Dasgupta Kelsey Hatzell Jennifer L. Schaefer Zhenhua Zeng
SUMMER FELLOWSHIPS Edward G. Weston Summer Fellowship Bilen Aküzüm F. M. Becket Summer Fellowship Ritambhara Gond
YOUNG AUTHOR AWARDS Bruce Deal & Andy Grove Young Author Award Jiancheng Yang Norman Hackerman Young Author Award Jan Schwammlein
ECS GENERAL STUDENT POSTER SESSION AWARDS Alana Danielle Dunne Ramchandra Gawas Junpei Koike Shirin Mehrazi Thomas Lee Spencer Billal Zayat
ECS SPONSORED MEETING STUDENT POSTER AWARD WINNERS Polymer Electrolyte Fuel Cells & Electrolyzers Holly Fruehold Jonathan Grunewald Yiwei Zheng Sociedad Mexicana de Electroquímica (SMEQ) and ECS Mexican Section Meeting Luis Manuel Alvarez Cerda
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
CONGRATULATIONS! 2019 LEADERSHIP CIRCLE AWARDS Silver Level (10 years of membership) GeIest Inc. Los Alamos National Laboratory Bronze Level (5 years of membership) El-Cell GmbH Ford Motor Company Ion Power, Inc. SanDisk Tianjin Lishen Battery Joint Stock Co., Ltd.
DIVISION AWARDS
Battery Division Technology Award Yi Cui Battery Division Research Award Khalil Amine Battery Division Postdoctoral Associate Research Award Sponsored by MTI Corporation and the Jiang Family Foundation Linqin Mu Minghao Zhang Battery Division Student Research Award Sponsored by Mercedes-Benz Research & Development Peter Attia Leo Duchene Corrosion Division H. H. Uhlig Award Alison Davenport Corrosion Division Morris Cohen Graduate Student Award Aria Kahyarian Dielectric Science and Technology Division Thomas D. Callinan Award Sean King Electrodeposition Division Research Award Krishnan Rajeshwar Electrodeposition Division Early Career Investigator Award Myung Jun Kim Electronics and Photonics Division Award Jung Han Energy Technology Division Research Award Plamen Atanassov
Energy Technology Division Supramaniam Srinivasan Young Investigator Award Fikile Brushett Energy Technology Division Graduate Student Award Sponsored by Bio-Logic Zan Gao High-Temperature Energy, Materials, & Processes Division J. Bruce Wagner, Jr. Award Nicola Perry Industrial Electrochemistry and Electrochemical Engineering Division New Electrochemical Technology (NET) Award Rainey Yu Wang Industrial Electrochemistry and Electrochemical Engineering Division Student Achievement Award Xinyou Ke Industrial Electrochemistry and Electrochemical Engineering Division H. H. Dow Memorial Student Achievement Award Pongsarun Satjaritanun Nanocarbons Division Richard E. Smalley Research Award Maurizio Prato Physical and Analytical Electrochemistry Division David C. Grahame Award Shelley Minteer
SECTION AWARDS
Canada Section W. Lash Miller Award Edouard Asselin Canada Section Student Award Jeffrey Daniel Henderson Europe Section Heinz Gerischer Award Nathan Lewis India Section S.K. Rangarajan Graduate Student Award Farjana J. Sonia Korea Section Student Award Minkyu Kim San Francisco Section Cubicciotti Award Erin Creel William Gent, honorable mention Yi Peng, honorable mention
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
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Financial Statement
W
e are pleased to present the audited financial statements of ECS for the years ended December 31, 2019 and 2018. These reports indicate that our financial health continues to be strong and that we continue to work towards the Society’s objectives of contributing to the advancement of electrochemical and solid state science through the dissemination of technical content. Comparing the Statement of Financial Position at December 31, 2019, to the previous year, total assets increased by about $1.8 million. This was the result of an increase in total net assets of $2.5 million, offset by a decrease in total liabilities of $673 thousand. Reviewing the Statement of Changes in Net Assets for the year ended December 31, 2019, total net assets increased by $2.47 million. The increase was a result of operating revenues totaling $10 million, less the net decrease in the fair value of investments of $770 thousand and expenses of $6.76 million. The operating revenue overage compared to the budget was partially due to positive performance in the meetings, publications, and membership areas. After subtracting unrealized losses of $770 thousand, the investment portfolio yielded a $2.1 million return. The total operating expenses increased compared to the prior year. The increase is due to increased constituent programs, meetings, grant sub-awards, and marketing costs, partially offset by decreases in publications, membership, awards, general & administrative, and fundraising costs compared to the previous year. General & administrative costs decreased as a result of organizational structure and personnel changes in 2019. The Society’s Statement of Financial Position reflects assets of $20.2 million. Of these total assets, over 75% are either custodial or endowment funds. Growth in these funds is important because it is clear that there will be pressure to generate financial support through investment and contribution revenues. Changes in the scientific publishing industry have inspired the Society’s Free the Science open access initiative, the goal of which is to make ECS content free to publish and free to access. Digital Library subscription revenue, over time, will begin to decline. In anticipation of a declining subscription revenue model, ECS continues to look for opportunities to generate additional revenues and operating margins from both traditional and new revenue sources. Our broader financial goal is to avoid the use of the endowment funds to cover operating expenses, for as long as possible, enabling the funds to maintain future growth. From an operational perspective, 2019 saw increases in the investment portfolio and positive financial performance of some of our program areas. We anticipate the continued need for program revenue and margin growth and growth in our investment portfolio to fund advances in our programs, the broader dissemination of our content, and open access initiatives. We continue to take steps towards our goal of becoming operationally break-even or better within the next couple of years.
ECS Revenue Revenue Percentages Percentages -- 2019 2019 ECS Constituent Membership Membership 5.8% 5.8%
Society Societyand meetings meetings and activities activities 32.3% 32.3%
Constituent programs programs 0.6% 0.6%
Publications Publications 35.1% 35.1%
Other revenues Other0.0% revenues 0.0% Rental income Grants Rental income Grants 5.9% 2.6% 5.9% 2.6%
Investment Investment income income 28.6% 28.6%
Contributions Contributions 0.5% 0.5%
ECS Expense Expense Percentages Percentages -- 2019 2019 ECS Membership Constituent Membership 5.2% 5.2%
Publications Publications 35.8% 35.8%
Rental Rental operations operations 6.9% 6.9%Fundraising Fundraising 0.7% Marketing 0.7% Marketing 4.2% 4.2%
General and General and administrative administrative 4.9% 4.9%
Constituent programs programs 2.2% 2.2%
Society Societyand meetings meetings and activities activities 29.6% 29.6%
Grant subGrant subawards Awards, awards Awards, 3.8% fellowships and fellowships grants and 3.8% grants 2.2% 2.2%
The Electrochemical Society is a nonprofit international association of scientists and engineers chartered as a tax-exempt organization under Section 501(c)(3) of the United States Internal Revenue Code. The Board of Directors engages the services of an independent auditor to assure that the Society maintains an effective system of financial management, and operates under its nonprofit charter. The Board of Directors received an opinion from their independent auditors, EisnerAmper LLP, formerly known as Horvath & Giacin, P.C., that the financial statements present fairly, in all material respects, the financial position of The Electrochemical Society, Inc. and Subsidiary as of December 31, 2019. To obtain a complete copy of the Audit Financial Statements, interested parties can e-mail their request to sophiap.jorge@electrochem.org. NOTE: Marketing expense depicted above does not include marketing expenses for program-specific purposes. Those expenses are included in the individual program areas.
Gessie Brisard, Treasurer
Tim Gamberzky, Chief Operating Officer and Chief Financial Officer
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The Electrochemical Society • 2019 Annual Report • www.electrochem.org
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (At December 31, 2019 and 2018) ASSETS 2019 Cash and cash equivalents Accounts receivable, net Prepaid expenses, deposits and other assets Investments in marketable securities Custodial account investments Deferred rent Investments in real estate: Land Buildings, less accumulated depreciation of $868,442 and $250,484 Intangible assets Total assets
2018
$2,567,439 5,772 243,340 13,328,376 424 48,416
$1,314,334 7,690 231,135 12,790,762 423 31,640
1,603,427 2,424,552 $20,221,746
1,603,427 2,445,643 $18,425,054
$321,358 1,558,348 424 43,163 17,596
$497,454 1,851,713 423 42,223 222,268
16,554,157 985,068 741,632 18,280,857 $20,221,746
14,129,825 985,068 696,080 15,810,973 $18,425,054
LIABILITIES AND NET ASSETS Liabilities Accounts payable and accrued expenses Deferred revenue Custodial account liability Security deposits Deferred compensation Net Assets Unrestricted Donor restrictions perpetual in nature Purpose restricted Total net assets Total liabilities and net assets
CONSOLIDATED STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS (For the years ended December 31, 2019 and 2018)
REVENUES Publications 15 Membership Constituent programs Society meetings and activities Investment income Contributions Grants Rental income Other revenues Total Revenues
$2,648,051 The Electrochemical Society • 2019 Annual$2,708,471 Report • www.electrochem.org 584,188 57,173 2,894,933 2,858,699 54,301 256,000 588,924 971 $10,003,660
706,850 29,224 2,430,910 851,191 125,571 199,640 527,489 4,687 $7,523,613
$2,419,242 350,412 151,552 2,271,187 254,999 146,732 $5,594,124
$2,585,896 397,900 114,295 2,086,797 187,600 215,152 $5,587,640
330,853 284,085 45,404 509,292 $1,169,634
489,789 262,705 223,612 489,644 $1,465,750
6,763,758 3,239,902 (770,018) 2,469,884 15,810,973 $18,280,857
7,053,390 470,223 (1,709,734) (1,239,511) 17,050,484 $15,810,973
EXPENSES Program services Publications Membership Constituent programs Society meetings and activities Grant sub-awards Awards, fellowships and grants Total Program Services Expenses Supporting services General and administrative Marketing Fundraising Rental operations Total Supporting Services Expenses Total Expenses Increase in net assets from operations Net change in fair value of investments Change in net assets Net assets, beginning of year Net assets, end of year This financial statement is a condensed version of ECS's audited statement for the year ending December 31, 2019. ECS is pleased to provide a complete copy with footnotes and the unqualified report of our auditor upon request. The Electrochemical Society • 2019 Annual Report • www.electrochem.org
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Notes to Financial Statements 1 - Summary of Significant Accounting Policies The consolidated financial statements include the accounts of The Electrochemical Society, Inc. (the Society) and its Divisions, Groups and Sections and ECS Holdings, LLC, (the LLC). All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements are prepared on the accrual basis of accounting. Revenue, other than contributions, is recognized when earned and expense is recognized when the obligation is incurred. The consolidated financial statements have been prepared to focus on the Society and its subsidiaries as a whole, and to present balances and transactions according to the existence or absence of donorimposed restrictions. Accordingly, net assets and changes therein are classified as follows: Unrestricted net assets—net assets not subject to donor-imposed stipulations; Temporarily restricted net assets—net assets subject to donor-imposed stipulations that will be met by actions of the Society and/or by the passage of time; Permanently restricted net assets are net assets subject to donor-imposed stipulations that they be maintained permanently by the Society. 2 - Income Tax Status and Income Taxes ECS and its Divisions, Groups, and Sections qualify as a tax-exempt organization described under Section 501(c)(3) of the United States Internal Revenue Code and all of its income, except income generated through the advertising included in its publications, is exempt from Federal income taxes. As a single-member limited liability company, the LLC is treated as a “disregarded entity” for income tax purposes and, as such, its financial activity is reported in conjunction with the Federal income tax filings of ECS. The Society has adopted the accounting pronouncement that provides guidance on uncertain tax positions. The Society has no unrecognized tax benefits at December 31, 2019. 3 - Investments Investments in equities and fixed income instruments are reported at fair market value (FMV), and investment in real estate is reported at cost. Investment income and realized and unrealized net gains and losses on investments of restricted net assets are reported as increases or decreases in net assets subject to donor restrictions. Investment income and realized and unrealized net gains and losses on investments of net assets not subject to donor restrictions are reported as increases or decreases in unrestricted net assets. Cost and market at December 31, 2019 are summarized as follows: Value Equities (FMV)
$456,308
Corporate bonds (FMV)
$3,802,890
U.S. Treasuries (FMV)
$9,069,178
Real estate (Cost) Total
16
$5,146,797
4 - Endowment Funds The Society’s endowment funds consist of several funds established to support awards, as well as an education fund and a Free the Science Fund. These funds include both donor-restricted funds and funds designated by the Board of Directors. As required by generally accepted accounting principles (GAAP), net assets associated with endowment funds are classified based on the existence or absence of donor-imposed restrictions. The Society’s policy requires the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result, the Society classifies as restricted net assets the original value of gifts donated to the fund and the original value of subsequent gifts to the fund. 5 - ECS Holdings, LLC ECS Holdings LLC was chartered in 1998 to manage the real estate assets of the Society. Current real estate holdings include five buildings at Howe Commons in Pennington, NJ, valued at a cost of $5,146,797. The Society occupies one of the five buildings and all are classified as an investment. The LLC leases office space in these four buildings to various tenants under operating lease arrangements expiring through 2025. Rental income under the aforementioned leases totaled $588,924 (excluding intercompany rentals of $93,539) for the year ended December 31, 2019. Report of the ECS Audit Committee The ECS Audit Committee provides oversight of The Electrochemical Society’s financial reporting process on behalf of the Board of Directors. Management (ECS Staff Directors and Officers) is responsible for the financial statements and the financial reporting process, including the system of internal control. In fulfilling its oversight responsibilities, the Committee discussed the financial statements in the annual report with management, including a discussion of quality, not just the acceptability, of the accounting principles; the reasonableness of significant judgments; and the clarity of disclosures in the financial statements. The members of the Audit Committee in 2019 were Yue Kuo (Chair), Gessie Brisard, Christina Bock, Stefan De Gendt, and Robb Micek. The ECS Audit Committee discussed with the independent auditors the overall scope and plans for their respective audits.The Committee meets with the independent auditors with and without management present, to discuss the results of their examinations, their evaluations of the Society’s internal control, compliance with laws and regulations, and the overall quality of the Society’s financial reporting. Based on the discussions referenced above, the ECS Audit Committee recommended for acceptance to the Board of Directors the audited financial statements for the year ended December 31, 2019 and the Board unanimously approved.
$18,475,173
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
ECS Institutional Members The Electrochemical Society values the support of its institutional members. These organizations help ECS support scientific education, sustainability, and innovation. Through ongoing partnerships, ECS will continue to lead as the advocate, guardian, and facilitator of electrochemical and solid state science and technology.
Corporate and Institutional Donors
The Army Research Office funded the 19th Polymer 2018 Leadership Circle Award Recipients Electrolyte Fuel Cell Symposium (236th ECS Meeting) as one of
the foremost gatherings for fuel cell scientists to present and discuss SILVER (10 years) GOLD (25 years) Robert Mantz Photo: US Army
cutting edge research results. Fuel cells represent a key technology to reduce logistical burdens associated with powering military systems and to enable new future capabilities.” – Robert Mantz, Program Manager at Army Research Office ECS member since 1994
Bio-Logic USA/Bio-Logic SAS
DLR-Institut für Vernetzte Energiesysteme e.V.
Electrochemical Research Institute ECS thanksCentral the following companies and institutions for their support which ensures that ECS advances the most cutting edge research through meetings and publications.
Benefactor
Admiral Instruments Instruments (37) ALS, Co.,AMETEK-Scientific Ltd. AMAT Inc. Bio-Logic USA/Bio-Logic SAS (10) American Elements AmericanDuracell Society of(61) Mechanical Engineers AMETEK (Par/solartron) Gamry Instruments (11) Ampcera, Inc. Applied Materials, Inc. Applied Nanofluorescence, LLC Arbin Instruments Argonne National Laboratory ASM International N.V. BASi (29) Bio-Logic3M USA/Bio-Logic SAS BioPro Scientific Co.(73) Ltd. Energizer BMW Faraday Bruker Optics, Inc.Technology, Inc. (12) DeNora IBM Corporation Research Center (61) Department of Chemical & Biological Engineering, Center for Catalytic Science and Engineering, University of Delaware ECS Electrodeposition Division ECS Industrial Electrochemistry and Electrochemical Engineering Division BASi (3) El-Cell Central Electrochemical Research Institute (25) Furuya Metal Americas DLR-Institut für Vernetzte Energiesysteme e.V. (10) Gamry Instruments Gelest EL-CELL GmbH (4) HaikuTech, IncMotor Corporation (4) Ford Han Yi Technology Supplies Ltd. GS Yuasa Inc. International Ltd. (38) HEKA Electronics Honda R&D Co., Ltd. (11) Hiden Analytical Hope Loves Company, Medtronic Inc.Inc. (38) Horiba Scientific Nissan Motor Co., Ltd. (11) IBM Panasonic Corporation, AIS Company (24) IOP Publishing Ivium Technologies KOWA American Corporation Lam Research Corporation Livent Corporation Axiall Corporation (23) Los Alamos National Laboratory General Motors Holdings LLC (66) Maccor Giner, Inc./GES (32) Malvern International Panalytical Inc. Lead Association (39) MetrohmIon Power Inc. (4) Kanto Chemical Co., Inc. (6) Karlsruher Institut für Technologie (2) Leclanche SA (33)
Micrux Technologies Gelest, Inc. (9) MilliporeSigma MTI Corporation Hydro-Québec (11) National Renewable Energy Laboratory Industrie Nora S.p.A. National Tsing HuaDe University (NTHU)(35) NAURA Akrion Inc. Pine Research Instrumentation (12) neaspec GmbH Neware Technology Limited indicates years of membership) (Number in parentheses Novonix OCI Vacuum Microengineering, Inc. Pacific Northwest National Laboratory PalmSens BV Park Systems, Inc. Lawrence Berkeley National Laboratory (14) Photon ETC Pine Research Instrumentation Scribner Associates, Inc. (22) ProSys, Inc. Toyota Research Institute of North America (10) RASIRC Research a Science Partner Journal SCREEN Semiconductor Solutions Co., Ltd. Scribner Associates, Inc. SK Innovation Southeastern Nanotechnology Infrastructure Corridor SuginoPermascand Corp. AB (15) Sumitomo Electric Industries, LTD TEL Technic Inc. (22) Teledyne Energy Systems, Inc. (19) TCI America Thermal TechnologyCompany, Inc. (22) TheHazard Electrosynthesis ToyotaTianjin Research Institute ofJoint-Stock North America Lishen Battery Co., Ltd. (4) United States Army Research Office TOC Capacitor Co., Ltd. (1) United States Office of Naval Research Toyota R&D University of Central California SanLabs., DiegoInc. (38) Vacuum Technology, Yeager Center Inc for Electrochemical Sciences (20) VidaBio Technology Co., LTD. ZSW (14) Vigor Tech USA, LLC Wanqian Technology Wildcat Discovery Technologies, Inc Xergy Inc. Sustaining XTC New Energy Materials(Xiamen) Co., Ltd. Zahner
Patron
Sponsoring
Los Alamos National Laboratory (10) Microsoft Corporation (1) MTI Corporation (2) Occidental Chemical Corporation (76) Sandia National Laboratories (42) SanDisk (4) Targray (2)
Please help us continue the vital work of ECS by joining as an institutional member today. Contact Shannon.Reed@electrochem.org for more information. The Electrochemical Society • 2019 Annual Report • www.electrochem.org
12/31/2018
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Individual Donors Your donation supports not only the healthy growth of the 118-year-old ECS, but also the progress of its core fields—solid state and electrochemical science and technology—and the bright future of the Society.”
Yue Kuo
– Yue Kuo, Past President, ECS member since 1995 Awarded Life Membership in 2015
Thank you to all our generous donors! Vishnuram Abhinav Kuzhikalail M. Abraham James C. Acheson Dhananjay Agrawal Shahriar Alam Faisal M. Alamgir Khalil Amine Susumu Arai Thomas M. Arruda Plamen B. Atanassov Albert G. Baca Keiran Max Ball Pallab Barai Sibel Barisci Victor Batista Daniel Bauza Loris Berardo Valerie Bertagna Kirti Bhardwaj Matteo Bianchini Christina Bock Pierre Boillat Leonard J. Borucki Rod L. Borup Gerardine Gabriela Botte Stanko R. Brankovic Roger Alan Brewer Todd J. Bridgewater Gessie Brisard Keith T. Burnette Chao Cai Scott A. Calabrese Barton Robert Lee Calhoun, Jr. Fahe Cao Jinwei Cao
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The Electrochemical Society • 2019 Annual Report • www.electrochem.org
Martin Kolek Anja Kopac Lautar Takumi Kosaba Sankalp Kota Sadagopan Krishnan Andrei A. Kulikovsky Yue Kuo Narendra Kurra Ahmet Kusoglu Jose Larcin Lynne LaRochelle Richard Kelly Cubicciotti Lazzaroni Ngoc Le Johna Leddy Pui Kit Lee Martin Leimbach Quentin Lemarie Charly Lemoine Wenyue Li Xiao Li Yejing Li Zhaodong Li Torleif Lian Shawn D. Lin Zong-Hong Lin Clovis Alan Linkous Baichen Liu Chia-Chen Liu Jingli Luo Stuart B. Lyon G. Madhavi Akira Maekawa Henri J. R. Maget Tyler X. Mahy Robert A. Mantz Surendra K. Martha Noriyoshi Matsumi Atsushi Matsunaga Toyoaki Matsuura James A. McIntyre J. Tyler Mefford Xiangbo Meng Robert Micek Carlos R. Michel John J. Michel Tomofumi Miyashita
Arjun Ajith Mohan Lorena Monzon Munekazu Motoyama Sanjeev Mukerjee Rangachary Mukundan Deborah J. Myers Keerti M.Naik Hironori Nakajima Motoi Nakao Paul M. Natishan Jeanne N’Diaye Benjamin Ng Trung Van Nguyen Kosuke Nishida Yaw S. Obeng Susan Odom Colm O’Dwyer Junya Ohyama Naoki Okamoto Karl Oleson Anna Olsen Yasuhisa Omura Yevgeniy Ostrovskiy Ozlem Ozcan Stephen J. Paddison Elliot Padgett Chong-Yun Park Stephen J. Pearton Xiong Peng Ramesh Kumar Petla Lisa Louise Pierinet Alan Zygmunt Stewart Pikor Peter N. Pintauro Elizabeth J. Podlaha Ilya Polovov Thomas Popp Mark D. Pritzker Ivo J. Raaijmakers Mohammad Rafiee Krishnan Rajeshwar Robert A. Rapp Xuefeng Ren Reyixiati Repukaiti Tatyana Reshetenko Cynthia A. Rice Christiane de Arruda Rodrigues
Sandra C. Rondinini Slava V. Rotkin Luc Rouveyre Michael D. Sanders Susmita Sarkar Kyomin Sasaki Robert Savinell Montree Sawangphruk Saurabh Saxena Ruth Schlenker Ali Seifitokaldani Hongmin Seo Lior Sepunaru Cesar Augusto C. Sequeira Yang Shao-Horn Muhammad Arslan Shehzad David W. Shoesmith Samira Siahrostami Mayura Sankalpa Silva Eddy R. Simoen Diane K. Smith Liang Song Jozsef Speder James H. Spreen Ramanathan Srinivasan Rengaswamy Srinivasan Suresh Sriramulu John A. Staser Anna Stefanopoulou Joseph R. Stetter Keith Stine Charles Stone Chao Su Akshay Subramaniam Wataru Sugimoto Dongseok Suh I-Wen Sun Shaopeng Sun Alice H. Suroviec Mika Tamski Yong Teck Tan E. Jennings Taylor Thomas Thomberg Katsuhiro Tomioka Carl W. Townsend Paul Chappell Trulove
Donald A. Tryk Hiroaki Tsuchiya Lioudmila Tsygankova Nazym Tuleushova Jeffrey Urban Victor Vanpeene Natasa R.Vasiljevic Mariana Madelen Vasquez Marko J.Vehkamaki Miguel Velazquez-Manzanares Lucien Veleva Sundeep Vema Ramakrishnan Venkataraman Mikko Vepsalainen Philippe M.Vereecken Anil V.Virkar Eric Wachsman Léon Walker Hong Wang Yaqiong Wang Yu Wang Takanobu Watanabe Takeshi Watanabe Adam Z. Weber David P. Wilkinson Nae-Lih (Nick) Wu Jianhan Xiong Zhaohong Xiu Chengshan Xu Kang Xu Huiqin Yao Jaesik Yoon Kazuki Yoshida Kazunari Yoshida Weilai Yu Jose H. Zagal Hadis Zarrin Thomas A. Zawodzinski Piotr Zelenay Jinyang Zhang Mengyi Zhang Yueheng Zhang Feng Zhao Hong Susan Zhou Zhiru Zhou Hongli Zhu
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
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With the backing of its Institutional Members, ECS supports scientific education, sustainability, and innovation. Thanks to these ongoing partnerships, ECS serves as lead advocate, guardian, and facilitator of electrochemical and sold state science and technology.
Institutional Members 2019 Leadership Circle Awards Silver Level – 10 years
Gelest Inc.
Los Alamos National Laboratory Bronze Level – 5 years
El-Cell GmbH
Ford Motor Company
Benefactor
AMETEK-Scientific Instruments (38) Bio-Logic USA/Bio-Logic SAS (11) Duracell (62) Gamry Instruments (12) Gelest, Inc. (10) Hydro-Québec (12) Pine Research Instrumentation (13)
Sponsoring
BASi (4) Central Electrochemical Research Institute (26) DLR-Institut für Vernetzte Energiesysteme e.V. (11) EL-CELL GmbH (5) Ford Motor Corporation (5) GS Yuasa International Ltd. (39) Honda R&D Co., Ltd. (12) Medtronic Inc. (39) Nissan Motor Co., Ltd. (12) Panasonic Corporation, AIS Company (25) Permascand AB (16) Technic Inc. (23) Teledyne Energy Systems, Inc. (20) The Electrosynthesis Company, Inc. (23) Tianjin Lishen Battery Joint-Stock Co., Ltd. (5) Yeager Center for Electrochemical Sciences (21) ZSW (15)
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Ion Power
Tianjin Lishen Battery Joint Stock Co., Ltd.
SanDisk
Patron 3M (30) Energizer (74) Faraday Technology, Inc. (13) GE Global Research Center (1) Lawrence Berkeley National Laboratory (15) Scribner Associates, Inc. (23) Toyota Research Institute of North America (11)
Sustaining Axiall Corporation (24) Battery Sciences LLC (1) General Motors Holdings LLC (67) Giner, Inc./GES (33) Hydrogenics Corporation (1) IBM Corporation Research Center (62) Ion Power Inc. (5) Kanto Chemical Co., Inc. (7) Karlsruher Institut für Technologie (3) Leclanché SA (34) Los Alamos National Laboratory (11) Microsoft Corporation (2) Occidental Chemical Corporation (77) Sandia National Laboratories (43) SanDisk (5)
The Electrochemical Society • 2019 Annual Report • www.electrochem.org
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