Illinois Heartland American Chemical Society

Outstanding Performance 1999-2004

2005 Annual Report

Currently viewing: Illinois Heartland 2005 Annual Report » Financial
Updated:
February 15, 2006

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Welcome to the Illinois Heartland!

The Illinois Heartland American Chemical Society practices fiscal responsibility by setting yearly budgets, soliciting donations from corporate partners, active fundraising, seeking partnerships with other organizations to share costs, and providing continuous oversight of financial transactions.

Voluntary dues are currently set at $7/year. Approximately 75% of our members participate.

Treasurer: Dr. Karen Bartelt (Eureka College)

Net Worth (December 2005)

Total Assets:$47875.54
Checking:$5010.70
Savings:$109.55
Money Market (2.0%):$4055.04
Postal Account:$450.68
CSA CD (3.75%):$16182.21
GLRM04 CD (4.75%):$17000.00
Reserve CD (4.09%):$5067.36

2005 Budget

Income$11250.21 (Other Income)
ACS Allotment:$5336.00Project SEED [3]:$16900.00
Voluntary Dues:$1260.50Councilor Travel:$1238.89
Corporate Donations [1]:$1000.00
Earned Interest:$587.62
Rebates:$46.09
Meal Receipts:$1020.00
LSAC IPG [2]:$2000.00
[1] Caterpillar Foundation & Aventine Renewable Energy donated $500 each to NCW in 2005. [2] The ACS Local Section Activities Committee funded an Innovative Program Grant to sponsor the collaborative Distinguished Scientist Award. [3] Project SEED monies are requested from ACS by individual mentors and deposited with the Section. Educational stipends are disbursed to SEED students biweekly during the summer program.

Expenses$8479.25(Other Expenses)
Councilor Travel [4]:$412.97Project SEED:$16900.00
Leadership Conference (chair-elect):$503.11
Monthly Meetings [5]:$1748.65
YCC Student Poster [6]:$189.79
National Chemistry Week:$1076.05
Distinguished Scientist [7]:$1265.82
HS Chem Contest:$711.00
Collegiate Scholars:$662.00
HS Chem Teacher:$100.00
Chemist of the Year:$121.83
Banquets [8]:$1364.10
Newsletter [9]:$736.90
[4] Councilor travel reimbursement to national meetings: $1651.86 (total) - $1238.89 (national subsidy) = $412.97 (net expense). [5] Meeting abstracts. [6] Younger Chemists Student Research Poster Session (September). [7] Funded by IPG (see [2]). [8] Banquets: Recognition and Awards (May) & Chemist of the Year (November). [9] Newsletter costs reduced by using donated copy machine.

2006 Budget

Income$14376.00
ACS Allotment:$5426.00
Voluntary Dues:$1250.50
Corporate Donations:$1000.00
Earned Interest:$1100.00
Meal Receipts:$1000.00
LSAC IPG [10]:$3000.00
Councilor Travel:$1600.00
Expenses$14000.00
Councilor Travel:$2000.00
Leadership Conference (chair-elect):$800.00
Monthly Meetings:$1700.00
YCC Student Poster:$200.00
National Chemistry Week:$1000.00
Distinguished Scientist [11]:$100.00
HS Chem Contest:$800.00
Collegiate Scholars:$800.00
HS Chem Teacher:$100.00
Chemist of the Year:$100.00
Banquets:$1400.00
Newsletter:$1000.00
Teacher Workshop (IPG) [10]:$3000.00
CCA travel (Rockwood) [12]:$1000.00
[10] Innovative Grant Proposal to be submitted to fund Teacher Workshop (Melissa Winchell & Michelle Edgcomb). [11] 2006 Distinguished Scientist chosen from ACS Speakers Bureau ($300). [12] Our NCW Coordinator, Jill Rockwood, was appointed to the National ACS Committee on Communty Activities (CCA) for 2006-2007. This committee meets at National Meetings.
Note: Project SEED is expected to to have 8-10 students ($22,000) in Summer 2006.

Great Lakes Regional Meeting Final Report

Thank you to everyone who helped plan and organize the Regional Meeting in 2004. The Illinois Heartland is truly an OUTSTANDING organization because of you, its members!

GLRM04 provided state-of-the-art chemical information by offering over 30 different symposia. GLRM04 offered inter- and multi-disciplinary symposia and inclusive events for everyone in the community including students, educators, and the Arts community. Unprecedented community involvement in GLRM04 demonstrated that the ACS is the premier professional organization not only for practitioners but also for the public. GLRM04 received support from ACS Technical Divisions, ACS National Committees, Ameren-Cilco, Sigma-Aldrich, Aventine Renewable Energy, ADM, Abbott Labs, the Economic Development Board, Caterpillar, and the USDA. The Exposition was filled with 34 different vendors showcasing their products and services to over 700 participants.
Total income: $124,211
Total expenses: $89,710
Difference: $34,501
Net to Illinois Heartland: $17,250.62

Long Range Financial Plan

Team members: Karen Bartelt (Treasurer, Eureka College), Steve Cermak (past treasurer, NCAUR), Jill Rockwood (NCW coordinator, Teacher), Amy Barklage (CAT), Vicki Finkenstadt (Councilor, NCAUR)

  1. Build up cash reserves per ACS recommendation: 1.5 x $6500 (yearly allotment + voluntary dues) = $9750
    In 1999, the cash reserve was $2500. In 2005, the Illinois Heartland cash reserve stood at $9100 (Reserve CD + Money Market).
  2. Build Collegiate Scholarship Award (CSA) Endowment
  3. Raise funds for programming such as National Chemistry Week (NCW), Distinguished Scientist, Chemist of the Year, Student Research Poster Session, and High School Chemistry Contest (Olympiad).
  4. Periodic review of investments.
  5. Provide support to ANGEL donor estate planning.
  6. Partner with other scientific & community organizations to share costs and enhance programming.

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