2018 ANNUAL REPORT
Advancing theory and practice at the forefront of electrochemical and solid state science and technology, and allied subjects.
ECS is, and continues to be, the preeminent organization in the field of electrochemical and solid state science.� – Christopher J. Jannuzzi
Get the latest ECS news at www.electrochem.org
i
E
CS has thrived for well over a century because of its ability to adapt to changing times, while still honoring and staying true to our heritage. As a volunteer-led, memberdriven society, backed by a dedicated professional staff in Pennington, NJ, we will ensure ECS is, and continues to be, the preeminent organization in the field of electrochemical and solid state science. Free the Science has had an enormous impact on the Society. Since it launched, over a third of what ECS has published in its journals has been open access. Most importantly, of those authors choosing open access, the vast majority—over 90%—have done so at no cost to them or their institutions. This is all thanks to ECS’s commitment to open science through which the Society has paid over $2.1 million in open access publishing costs on behalf of authors. For an organization the size of ECS, that is an astounding statistic, one which every member of The Electrochemical Society can be proud. Though, despite how far Free the Science has come, we still have a long way to go before we can fully realize the dream of providing a truly open, world-class publishing platform for our community. It is our firm belief, however, that the activities and engagement detailed in this report, across all aspects of the Society’s operations (awards, education, fund development, meetings, membership, and publications), provide the roadmap for reaching that goal. 2018 was a year of unprecedented growth in student chapters around the world, due mainly to our volunteer leaders' outstanding ambassadorial work on behalf of the Society, which helped to launch chapters in Europe, Asia, Africa, as well as North and
South Americas. In other global Society news, The First International Conference on 4D Materials and Systems (4DMS), sponsored by ECS, was held August 26-30, 2018, by the Faculty of Engineering at Yamagata University, located in the castle town of Yonezawa. This conference marks ECS’s first sponsored meeting in Asia, and given its great success, this is encouraging sign of more international events to come in the future! Yes, things are changing at ECS. With new staff leadership, a growing membership, and new chapters and conferences on multiple continents, it is clear to see that ECS is an organization looking toward the future, a very bright future. But as we move forward into our 118th year, we do so firmly grounded in our storied past because organizations like ECS would not, could not exist without the volunteers, members, and other constituents like you who are willing to dedicate their time, talent, and energy to our collective cause.
Christopher Jannuzzi Executive Director and CEO
Yue Kuo ECS President
The Electrochemical Society • 2018 Annual Report • www.electrochem.org
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NEXT GENERATION
ACTIVITIES AND SUPPORT This fellowship taught me how to complete my work independently.” – Haegyeom Kim
$25,000 in summer fellowship awards
ECS Toyota Young Investigator Fellowship – awarded
$100,000 in funding for 2018-2019
Over
$16,000
in student chapter memberships awarded to students in 81 international ECS student chapters
$75,075
in biannual meeting travel grant awards for 2018
Special thank you to Peter C. Foller for making a $100,000 planned gift to the education fund to support fellowships. – Peter is a member of the Carl Hering Legacy Society for his gift. 4
The Electrochemical Society • 2018 Annual Report • www.electrochem.org
COMMUNITY Special thank you to Lili Deligianni for contributing her cash prize for the Vittorio de Nora Award to the education fund. Her generous support will help students receive educational programming. Lili has also supported the Jan Talbot Sponsored Collection.
Congratulations!
Lili Deligianni
Awards • 8 society awards • 9 section awards • 14 newly inducted Fellows of The Electrochemical Society • 33 division awards • $80,000 in award prizes
Author/Reviewer • The Electrochemical Society relies upon the technical expertise and judgement of the many individuals who, as reviewers, help to maintain the high standards characteristic of the Society’s peerreviewed journals. • In 2018, 3,528 individuals supported the Society’s long-standing commitment to ensuring both the technical quality of the works published, as well as the integrity and validity of the peer review the community provides. • ECS greatly appreciates the time and effort put forth by these individuals, and the Society would like to express a sincere thank-you for their hard work and support.
Meeting Attendance 233rd ECS Meeting • • • •
2,616 attendees 46 symposia 2,654 abstracts 53 countries represented
AiMES 2018 Meeting • • • •
1,973 attendees 53 symposia 2,177 abstracts 55 countries represented
$156,947
in symposium funding to support speakers at ECS biannual meetings
The Electrochemical Society • 2018 Annual Report • www.electrochem.org
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INNOVATION Thanks to Free the Science … ECS has paid over $2.1 million in open access publishing costs on behalf of authors. – Christopher J. Jannuzzi
Christopher J. Jannuzzi
Amazon Catalyst
$87,600
in funding to four projects for the Amazon Catalyst at ECS program
First International Conference on 4D Materials and Systems August 26-30, 2018, Yonezawa, Japan
Almost
300
Journal of The Electrochemical Society Focus Issue with
attendees
Data Science Program
$35,000
grant from Army Research Office to support the data science program
All attendees became members of ECS, the Sensor Division, and the Japan Section
55 papers
49
papers submitted to ECS Transactions
ECS Data Hack Week was an excellent introduction to the concept of open science and statistical learning techniques; one that I would recommend to anyone who is consistently collecting and interpreting data, i.e. every scientist out there.
– ECS Data Science Hack Week Attendee (233rd ECS Meeting)
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The Electrochemical Society • 2018 Annual Report • www.electrochem.org
RESEARCH & PUBLICATIONS Jan Talbot retired this past year and as a celebration of her body of work, she made a generous donation to help ECS open 48 articles.
Jan Talbot
42%
ECS Plus
1,111
journal articles published as open access in 2018
More than institutional subscribers
37%
of all journal content published since 2014 is now open access.
252
231
subscribing institutions had the opportunity to publish open access at no cost
1,900
OA Papers published (by Country)
1,812
journal articles were published in the 2018 volume year.
3.1 million
articles and abstracts downloaded
52 68
94 68
USA Germany Japan
China Canada Other
Launched in 2018
Society’s free online preprint service
ECS Digital Library surpassed
151,000
articles and abstracts The Electrochemical Society • 2018 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 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.
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. 8
ECS Board of Directors (as of December 31, 2018)
Officers Yue Kuo, President, Texas A&M University
Division Chairs Marca Doeff, Battery Division Masayuki Itagaki, Corrosion Division Christinia Bock, Vimal Chaitanya, Dielectric Science and Sr.Vice President, Technology Division National Research Council of Stanko Brankovic, Canada Electrodeposition Division Colm O’Dwyer, Stefan De Gendt, Electronics and Photonics Division 2nd Vice President, Andrew Herring, Katholieke Universiteit Leuven Energy Technology Division Eric Wachsman, 3rd Vice President, Greg Jackson, High-Temperature Energy, Materials, & Processes Division University of Maryland John Staser, Industrial Electrochemistry and Electrochemical Engineering Division James Fenton, Secretary, University of Central Florida Mikhail Brik, Luminescence & Display Materials Division Gessie Brisard,Treasurer, Slava Rotkin, Universite de Sherbrooke Nanocarbons Division Graham Cheek, Organic and Biological Christopher Jannuzzi, Electrochemistry Division Executive Director & CEO Alice Suroviec, Physical & Analytical The Electrochemical Society Electrochemistry Division Ajit Khosla, Sensor Division E. Jennings Taylor, Interdisciplinary Sci. & Tech Subcommittee Johna Leddy, Past President Stuart Swirson, Non Profit Financial Professional
The Electrochemical Society • 2018 Annual Report • www.electrochem.org
MEMBERSHIP ECS is really my professional home. I’ve been able to interact with a lot of scientists and researchers and form collaborations, some of them lasting more than a decade.Those are priceless.” – Shirley Meng
Shirley Meng
Overall membership retention rate
63%
Total individual members
More than
6%
increase in student memberships
8,273
(up 4% from 2017)
28%
increase in member and student member applications
Singapore Section – the first section added in more than
3.85%
growth in members
25 years
The Electrochemical Society • 2018 Annual Report • www.electrochem.org
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CORPORATE
DONORS ECS meetings bring people from all over the world that are specific to electrochemistry and that allows us to meet our customers in one place.” – Marion Jones, Sponsorship Commitee Chair
Marion Jones Sponsorship Committee Chair
ECS is grateful to the following companies and institutions which have supported the Society through sponsorship. Their involvement ensures that we are able to advance the most cutting edge research in our fields through conferences and publications. AIP Publishing Air Liquide
De Nora
LC Technology Solutions Inc.
Doosan Fuel Cell America
Mattson Thermal Products GmbH
EV Group Fine Feature Electrodeposition Laboratory Fluolyte FMC Corporation Gamry Instruments, Inc. Gelest Inc. Global Foundries
American Elements
Hawaii Tourism Authority- ‘Elele Program
AMETEK
Honda Research Institute
Applied Materials
Hydro Quebec
Arbin Instruments
IBM
Army Research Office
IKA Works Inc.
ASM
International Society of Functional Thin Film Materials & Devices Workshop on ActiveMatrix Flatpanel Displays and Devices
Bio-Logic Blue Solutions Canada Company Brookhaven National Laboratory Bruker CH Instruments, INC.
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Mercedes-Benz Research and Development Center Metrohm MicrotracBEL Corp. Nextron Corporation Office of Naval Research PAR/Solartron Photon, etc. Pine Research Instrumentation Pacific Northwest National Laboratory Quantachrome Instruments RASIRC Scribner Sigma-Aldrich Materials Science Solvionic Company Sumitomo Metal Mining Co., Ltd.
Ion-Power
Thermo Fisher Scientific
Jiang Family Foundation
Toyota Research Institute of North America
Lam Research
The Electrochemical Society • 2018 Annual Report • www.electrochem.org
WAYS TO
GIVE
Send a check The Electrochemical Society 65 South Main Street, Building D, Pennington, NJ 08534 Email: Development@electrochem.org Phone: 609.737.1902
Make a gift at www.electrochem.org Carl Hering Legacy Circle Make a future gift to ECS with a planned gift in your will. Stipend/Award Donate support you receive from ECS such as your stipend, or award prize. The Electrochemical Society (ECS) 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. ECS’s U.S. Tax ID: 13-177126.
Transfer Securities Make a charitable contribution of stocks, bonds, and/or mutual funds. Employer Match Have your employer match your donation. Recurring Make a monthly recurring gift from a credit card.
The Electrochemical Society • 2018 Annual Report • www.electrochem.org
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INDIVIDUAL GIVING
LIST OF DONORS Special thank you to Walter A. van Schalkwijk for donating his cumulative author royalties from his book Lithium Advances to the society. His donation supports the energy technology division, and battery division, and the education fund. He has also donated to the Roque Calvo Next Generation Fund.
Walter A. van Schalkwijk
Thanks to all of our generous 2018 donors. Kuzhikalail Abraham James Acheson Radoslav Adzic Mark Allendorf James Amick Khalil Amine Ryoichi Aogaki William Ayers Christina Bock Eric Brooman Roque Calvo Graham Cheek Karen Chmielewski David Cliffel Robert Comizzoli Direct Conference Pamela Cosman Beth Craanen Stefan De Gendt Lili Deligianni Howard Dewald Wei-Ping Dow Joseph Drago Ronnie-Gail Emden Larry Faulkner Peter Fedkiw James Fenton Jeffrey Fergus Randall Fowler
Gerald Frankel Yasuhiro Fukunaka Tim Gamberzky Fernando Garzon Norman Goldsmith John Goodenough Heiner Gores Vicki Grassian Turgut Gur Elena Haddon Claude Heller Andrew Herring Dennis Hess Michael Heynes Curtis Holmes Takayuki Homma W. Jean Horkans Charles Hussey Christopher Jannuzzi Foundation Christopher Johnson Yasushi Kanzaki Karen Kavanagh Robert Kelly Martin Kendig Bernd Kolbesen Yue Kuo Kelly Lazzaroni Johna Leddy
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Feng Lin Clovis Linkous Chung-Chiun Liu Roya Maboudian Henri Maget Tyler Mahy James McIntyre Joanna McKittrick Jose Medina Shirley Meng Tomofumi Miyashita Thomas Moffat Herbert Moltzan Rangachary Mukundan Vivek Murthi Winnie Mutch Paul Natishan John Newman Yaw Obeng Yutaka Okinaka Colin Oloman Peter Pintauro Thomas Popp Robert Rapp Mukundan Sarukkai Robert Savinell Thomas Schmidt Daniel Schwartz Tae-Yeon Seong Yang Shao-Horn
Diane Smith Jack Spiegelberg Suresh Sriramulu Gery Stafford John Staser Frederick Strieter Venkat Subramanian Anne Swartz Jay Switzer Jan Talbot Meng Tao E. Jennings Taylor Carl Townsend Orlin Trapp Forrest Trumbore Hiroaki Tsuchiya Charles Tu University of Virginia Walter van Schalkwijk Gomathi Venkat Sannakaisa Virtanen Eric Wachsman David Wipf Nae-Lih (Nick) Wu Mary Yess Huaxiang Yin Toshihiko Yoshida Jose Zagal Guangsheng Zhang
The Electrochemical Society • 2018 Annual Report • www.electrochem.org
Faisal Alamgir Chic Allen Romero Giaan Alvarez Casey Annunziata Susumu Arai Akshay Ashirgade Marcelle Austin Kazuhisa Azumi Daniel Bauza Madonna Bentz Valerie Bertagna Stanko Brankovic Mandy Bratton Mikhail Brik Gessie Brisard D. Noel Buckley James Burgess Keith Burnette Robert Lee Calhoun Linda Cannon Vimal Chaitanya Zhi David Chen C. M. Cheng-Ming Giovanni Pietro Chiavarotti Sid Clouser Julie Del Rosario Eric Detsi Detlef Diesing Nikolay Dimitrov Daniel Mark Dobkin Marca Doeff Ray Donohoe Sharmila Durairaj S. Elangovan John Elter Eiji Endoh Darell Engelhaupt Kiryung Eom Thomas Fahidy Olivia Fernandez Alejandro Franco K. Andreas Friedrich Shinji Fujimoto Jun Furukawa Judy Gaukel Hussein Gharibi Nathan Goldy Jyh-Rong Gong Olivia Graeve Camille Guerin Mercedes Oropeza Guzman Elod Gyenge Ion Halalay Ned Hall Hiroki Hamada Jinkyu Han Hidetaka Hayashi Yusuke Hibino Mary Hojlo
Teruhisa Horita Qiang Huang Howard Huff Simi Hundal Shunya Ishii Masayuki Itagaki Greg Jackson Prithi Jayaraj Yeon Jeongseok Vatsala Rani Jetti Gerry Johnson Norbert Jux Yu Kambe Wi Seob Kang Kensaku Kanomata Robert Kaplar Asif Islam Khan Thomas Kidd Do-Heyoung Kim Harry Knickle Takeshi Kobayashi Ichiro Koiwa Bianca Kovalenko Darshan Kundaliya James Landon Ngoc Le Benjamin Lee Hyo-Jong Lee Sangyeon Lee John Lewis Jianxin Li Ying Li Guanchen Li Jeffrey Libbert Shawn Litster Kyle Logan Nestor Perea Lopez Wenquan Lu Siddheswar Maikap Azzam Mansour Robert Mantz Takashi Matsumae Heather Mcalinn Richard Mccreery Matt Mcmahon Bastian Mei Kailash Mishra Sudhan Misra Minoru Mizuhata Ashley Moran Yutaka Moritomo Verena Mueller Matthew Murbach Deborah Myers Mikito Nagata Hironori Nakajima Sri Narayan Trung Van Nguyen Huilong Ning
Roberta Nipoti Mototaka Ochi Susan Odom Colm O’dwyer Ken Ogata Hoon-Jung Oh Toshikazu Okubo Kazuyoshi Okuno Anna Olsen Yasuhisa Omura Stephen Paddison Feng Fred Pan Nia Parker Emanuel Peled Mark Pellerite Ramesh Kumar Petla Elizabeth Podlaha Mark Pritzker Fred Redeker Shannon Reed Uwe Rossow Slava Rotkin Anisha Roy Kevin Ryan Morihiro Saito Masaki Sakamoto Marcos Jose Santos Kazunori Sato Kentarou Sawano Morton Schwartz Michael Shane Ashok Sharma Carolyn Sheehan David Shoesmith Drew Sinha N. Sinha William Smith Mitsuru Soma Gerry Sorce Ellen Speert Kathy Spencer Narasi Sridhar Ramanathan Srinivasan Brandon Stec Kathryn Steele Daniel Steingart Eric Stuve Yoshiyuki Suda Lidong Sun I-Wen Sun Yujie Sun Kevin Shing Sung Alice Suroviec Vladimir Svrcek Wendi Sweet Stuart Swirson Makoto Takahashi Kazuhisa Tamura Hiroaki Tanaka
Meron Tesfaye Sergio Trasatti Liliana Trevani Donald Tryk Kohei Uosaki Peter Van Del Wal Victor Vanpeene Mariana Madelen Vasquez Philippe Vereecken Flavio Villa Anil Virkar Alen Vizintin Mitsuru Wakisaka Hong Wang Yu Wang Masayoshi Watanabe Ralph White Hazel Whitlow Gabriele Wienhausen David Wilkinson Clinton Winchester Jessica Wisniewski Yewchung Sermon Wu Nianqiang Wu Zhixiao Xu Shozo Yanagida Seungyong Yang Jae Young Yoo Masaki Yoshio Robert Scott Young Liang-Tse Yu Piotr Zelenay Xiao-Dong Zhou Xinhua Zhu Yaqi Zhu Special recognition for donations in the honor of:
Roque Calvo Marca Doeff The James C. Acheson Foundation Ulrich Goesele Yue Kuo Dr. David Ramaker Prof. SK Rangarajan Subhash Singhal Glenn Stoner Jan Talbot Mary Yess YHX for 116 years of ECS
Thank you to all of our supporters. If there is a mistake in our listings, please contact development@electrochem.org and we will issue a correction.
The Electrochemical Society • 2018 Annual Report • www.electrochem.org
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ECS
HONOR ROLL PAST PRESIDENTS OF THE SOCIETY Johna Leddy............................................................... 2017-2018 2018 SOCIETY AWARD WINNERS Edward Goodrich Acheson Award Tetsuya Osaka......................................................................2018 Vittorio de Nora Award Hariklia (Lili) Deligianni......................................................2018 Henry B. Linford Award for Distinguished Teaching Ralph White..........................................................................2018 Charles W. Tobias Young Investigator Award Michael Arnold.....................................................................2018 HONORARY MEMBER Roque Calvo.........................................................................2018 ECS FELLOW Sheikh Akbar........................................................................2018 Yi Cui.....................................................................................2018 Jan Fransaer..........................................................................2018 Turgut Gür............................................................................2018 Pawel Kulesza.......................................................................2018 Stuart Licht...........................................................................2018 Y. Shirley Meng.....................................................................2018 Junichiro Mizusaki................................................................2018 Venkat Subramanian...........................................................2018 Jay Switzer.............................................................................2018 Hiroyuki Uchida...................................................................2018 Sannakaisa Virtanen.............................................................2018 Adam Weber........................................................................2018
Congratulations! 2018 YOUNG AUTHOR AWARDS Norman Hackerman Young Author Award Raymond Smith....................................................................2018 Bruce Deal & Andy Grove Young Author Award Shihyun Ahn................................................................................... ................................................................................................2018 ECS GENERAL SOCIETY STUDENT POSTER SESSION AWARDS Mario Cedano......................................................................2018 Aranzazu Cermona Orbezo.............................................2018 Garrett Huang.....................................................................2018 Jeffrey Kowalski....................................................................2018 Ayano Ohama......................................................................2018 Tammy Pham........................................................................2018 Hafis Pratama Rendra Graha............................................2018 Ashwin Ramanujam............................................................2018 David Reber.........................................................................2018 Hao Wang.............................................................................2018 Jae Young Yoo........................................................................2018 ECS SPONSORED MEETING STUDENT POSTER AWARD WINNERS Rio Grande Symposium on Advanced Materials Sara Franco...........................................................................2018
2018 SUMMER FELLOWSHIPS
Sociedad Mexicana de Electroquímíca (SMEQ) and AiMES 2018 Letícía Juárez Marmolejo...................................................2018
Edward G. Weston Summer Fellowship Aashutosh N. Mistry...........................................................2018
2018 LEADERSHIP CIRCLE AWARDS
Colin Garfield Fink Summer Fellowship Haegyeom Kim ...................................................................2018
Gold Level Central Electrochemical Research Institute.............................................. received 2018
Joseph W. Richards Summer Fellowship Yi Peng ..................................................................................2018 F. M. Becket Summer Fellowship Xinyou Ke ............................................................................2018
Silver Level Bio-Logic USA/Bio-Logic SAS.......................... received 2018 DLR-Institut für Vernetzte Energiesysteme e.V. ....................... received 2018
Herbert H. Uhlig Summer Fellowship Jeffrey Henderson...............................................................2018
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The Electrochemical Society • 2018 Annual Report • www.electrochem.org
2018 DIVISION AWARDS Battery Division Student Research Award sponsored by Mercedes-Benz Research & Development Fudong Han..........................................................................2018 Steven Lacey.........................................................................2018 Battery Division Research Award Kang Xu.................................................................................2018 Battery Division Technology Award Yongyao Xia..........................................................................2018 Feng Pan................................................................................2018 Battery Division Postdoctoral Associate Research Award sponsored by MTI Corporation and the Jiang Family Foundation Haodong Liu.........................................................................2018 David Bock...........................................................................2018 Corrosion Division H. H. Uhlig Award Rudolph Buchheit................................................................2018 Corrosion Division Morris Cohen Graduate Student Award Rebecca Schaller..................................................................2018 Electrodeposition Division Research Award Nosang Myung.....................................................................2018 Electrodeposition Division Early Career Investigator Award Jon Ustarroz.........................................................................2018 Electronics and Photonics Division Award Tae-Yeon Seong...................................................................2018 Energy Technology Division Research Award Yushan Yan.............................................................................2018 Energy Technology Division Supramaniam Srinivasan Young Investigator Award Maria Escudero-Escribano.................................................2018
Industrial Electrochemistry and Electrochemical Engineering Division H.H. Dow Memorial Student Achievement Award Soo Kim.................................................................................2018 Luminescence and Display Materials Division Centennial Outstanding Achievement Award Pieter Dorenbos..................................................................2018 Nanocarbons Division SES Young Investigator Award Michael Arnold.....................................................................2018 Organic and Biological Electrochemistry Division Manuel M. Baizer Award Flavio Maran.........................................................................2018 Physical and Analytical Electrochemistry Division Max Bredig Award in Molten Salt and Ionic Liquid Chemistry Robin Rogers.......................................................................2018 Sensor Division Outstanding Achievement Award Joseph Wang.........................................................................2018 2018 SECTION AWARDS Canada Section Electrochemical Award Ashok Vijh.............................................................................2018 Canada Section Student Award Shuai Chen............................................................................2018 Europe Section Allessandro Volta Medal Wolfgang Schuhmann.........................................................2018 India Section S. K. Rangarajan Graduate Student Award Farjana J. Sonia.....................................................................2018 Korea Section Student Award Hieu Quang Pham...............................................................2018
Energy Technology Division Graduate Student Award sponsored by Bio-Logic Deijun Xiong........................................................................2018
San Francisco Section Daniel Cubicciotti Student Award Yuzhang Li.............................................................................2018 Sara Renfrew.................................. Honorable Mention 2018 Alaina Strickler.............................. Honorable Mention 2018
High-Temperature Energy, Materials, & Processes Division Outstanding Achievement Award Meilin Liu...............................................................................2018
Outstanding Student Chapter Award University of Washington..................................................2018 Lewis University........................Chapter of Excellence 2018 University of Virginia.................Chapter of Excellence 2018
Industrial Electrochemistry and Electrochemical Engineering Division Student Achievement Award Yasser Ashraf Gandomi......................................................2018
The Electrochemical Society • 2018 Annual Report • www.electrochem.org
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FINANCE W
e are pleased to present the audited financial statements of ECS for the years ended December 31, 2018 and 2017. These reports indicate that, despite substantial temporary losses to our investment portfolio during the last quarter of 2018, 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, 2018 to the previous year, total assets decreased by $948 thousand. This was the result of a decrease in total net assets of $1.24 million, offset by increases in total liabilities of $291 thousand. Reviewing the Statement of Changes in Net Assets for the year ended December 31, 2018, total net assets decreased by $1.24 million. The decrease was a result of operating revenues, which were slightly over budget, totaling $7.52 million, less the net decrease in the fair value of investments of $1.71 million and expenses of $7.05 million. The operating revenue overage compared to the budget was largely due to positive performance in the publications and meetings areas, which were more than offset by the decrease in the fair value of the investment portfolio. The total operating expenses decreased compared to the prior year, primarily due to decreased meetings, membership, marketing, and fundraising costs, partially offset by increases in publications, constituent programs and general & administrative costs compared to the previous year. General & administrative costs increased as a result of organizational structure and personnel changes in 2018. The Society’s Statement of Financial Position reflects assets of $18.4 million. Of these total assets, 84.9% are reserved for 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, 2018 saw declines in the investment portfolio partially offset by the 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.
ECS Revenue Percentages - 2018 Membership 9.4%
Constituent programs 0.4%
Publications 35.1%
Other revenues 0.1% Rental income 7.0%
Grants 2.7%
Contributions 1.7%
Society meetings and activities 32.3%
Investment income 11.3%
ECS Expense Percentages - 2018 Membership 5.6%
Publications 36.7%
Rental operations 6.9% Fundraising 3.2%
Constituent programs 1.6% Society meetings and activities 29.6%
Grant subawards 2.7%
Marketing 3.7%
General and administrative 6.9%
Awards, fellowships and grants 3.1%
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, 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, 2018. To obtain a complete copy of the Audit Financial Statements, interested parties can e-mail their request to paul.grote@electrochem.org.
Gessie Brisard Treasurer
Tim Gamberzky Chief Operating Officer
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NOTE: Marketing expense depicted above does not include marketing expenses for programspecific purposes. Those expenses are included in the individual program areas. The Electrochemical Society • 2018 Annual Report • www.electrochem.org
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (At December 31, 2018 and 2017) ASSETS 2018 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 $1,030,342 and $943,337 Total assets
2017
$1,314,334 7,690 231,135 12,790,762 423 31,640
$1,491,540 33,385 338,035 13,380,408 423 65,144
1,603,427
1,603,427
2,445,643 $18,425,054
2,460,848 $19,373,210
$497,454 1,851,713 423 42,223 222,268
$432,168 1,641,330 424 38,248 210,556
14,129,825 985,068 696,080
15,408,075 959,068 683,341
15,810,973 $18,425,054
17,050,484 $19,373,210
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, 2018 and 2017)
REVENUES
Publications Membership Constituent programs Society meetings and activities Investment income Contributions Grants Rental income Other revenues Total Revenues
$2,648,051 706,850 29,224 2,430,910 851,191 125,571 199,640 527,489 4,687 7,523,613
$2,599,315 606,331 29,595 2,697,400 889,603 176,421 160,000 564,674 1,675 7,725,014
$2,585,896
$2,460,962
Membership 397,900 Constituent programs 114,295 These financial Society meetings andstatements activities are a condensed version of the audited statements of ECS for the years ending December 31, 2,086,797 2018 and 2017. ECS will be Grant sub-awards 187,600 pleased to provide complete copies along with all footnotes and the unqualified report of our auditors upon request. Awards, fellowships and grants 215,152 Total Program Services Expenses 5,587,640 Supporting services General and administrative 489,789 Marketing 262,705 Fundraising 223,612 Rental operations 489,644 Total Supporting Services Expenses 1,465,750
442,494 91,705 2,307,847 150,000 188,644 5,641,652
EXPENSES Program services Publications
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
7,053,390 470,223 (1,709,734) (1,239,511) 17,050,484 $15,810,973
401,332 298,419 409,644 512,972 1,622,367 7,264,019 460,995 1,078,557 1,539,552 15,510,932 $17,050,484
These financial statements are a condensed version of the audited statements of ECS for the years ending December 31, 2018 and 2017. ECS will be pleased to provide complete copies along with all footnotes and the unqualified report of our auditors upon request. The Electrochemical Society • 2018 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 donor-imposed restrictions. Accordingly, net assets and changes therein are classified as follows: net assets without donor restrictions and net assets with donor restrictions. 2 - Income Tax Status and Income Taxes ECS and its Divisions, Groups, and Sections qualify as a taxexempt 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, 2018. 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 net assets without donor restrictions. Cost and market at December 31, 2018 are summarized as follows: Value Equities (FMV)
$10,067,899
Corporate and U.S. bonds (FMV)
2,568,468
Corporate bond funds (FMV)
142,902
Real estate (Cost)
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 $5,079,415. 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 2023. Rental income under the aforementioned leases totaled $527,489 (excluding intercompany rentals of $93,323) for the year ended December 31, 2018. 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 2018 were Johna Leddy (Chair), Gessie Brisard, Christina Bock, Yue Kuo and Stuart Swirson. 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, 2018 and the Board unanimously approved.
5,079,415
Other Investments (FMV) Total
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 donorrestricted endowment funds absent explicit donor stipulations to the contrary. As a result, the Society classifies as net assets subject to donor restrictions the original value of gifts donated to the fund and the original value of subsequent gifts to the fund.
11,493 $17,870,177
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 donorrestricted funds and funds designated by the Board of Directors.
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The Electrochemical Society • 2018 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.
2018 Leadership Circle Award Recipients GOLD (25 years)
SILVER (10 years)
Bio-Logic USA/Bio-Logic SAS Central Electrochemical Research Institute
DLR-Institut für Vernetzte Energiesysteme e.V.
Benefactor Gelest, Inc. (9) Hydro-Québec (11) Industrie De Nora S.p.A. (35) Pine Research Instrumentation (12)
AMETEK-Scientific Instruments (37) Bio-Logic USA/Bio-Logic SAS (10) Duracell (61) Gamry Instruments (11)
(Number in parentheses indicates years of membership)
Patron Lawrence Berkeley National Laboratory (14) Scribner Associates, Inc. (22) Toyota Research Institute of North America (10)
3M (29) Energizer (73) Faraday Technology, Inc. (12) IBM Corporation Research Center (61)
Sponsoring Permascand AB (15) Technic Inc. (22) Teledyne Energy Systems, Inc. (19) The Electrosynthesis Company, Inc. (22) Tianjin Lishen Battery Joint-Stock Co., Ltd. (4) TOC Capacitor Co., Ltd. (1) Toyota Central R&D Labs., Inc. (38) Yeager Center for Electrochemical Sciences (20) ZSW (14)
BASi (3) Central Electrochemical Research Institute (25) DLR-Institut für Vernetzte Energiesysteme e.V. (10) EL-CELL GmbH (4) Ford Motor Corporation (4) GS Yuasa International Ltd. (38) Honda R&D Co., Ltd. (11) Medtronic Inc. (38) Nissan Motor Co., Ltd. (11) Panasonic Corporation, AIS Company (24)
Sustaining Axiall Corporation (23) General Motors Holdings LLC (66) Giner, Inc./GES (32) International Lead Association (39) Ion Power Inc. (4) Kanto Chemical Co., Inc. (6) Karlsruher Institut für Technologie (2) Leclanche SA (33)
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 • 2018 Annual Report • www.electrochem.org
12/31/2018
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