Dear Friends and Colleagues,
The IGCS Business Meeting was held at the IGCS Biennial Meeting in Kyoto, on Saturday, Sept 15. There, we informed the members about the status of our Society’s finances, provided an overview of expenses and revenue over the past six years and a look into the future of the Society. During the meeting my term as Secretary-Treasurer came to an end, and because some of you did not have the opportunity to attend, I thought it might be helpful to send an update to all members.
The IGCS continues to be in outstanding financial health with $2.3 million in overall assets. The core revenue of the Society includes: Education/Meetings, the International Journal of Gynecologic Cancer (IJGC), Industry Relationships, and Membership Dues. Over the last two years Council has focused on these revenue drivers and at each meeting of the Council, strategic discussions have included ways to increase and enhance these revenue drivers as evidenced in the following information.
As you may be aware, IGCS has experienced significant membership growth through our Strategic Alliance Partnership Program growing from approximately 1,000 members to over 2,650 members as of September 2018. This growth has provided greater balance of members from all regions of the globe and allows us to maintain our economically affordable dues pricing structure.
Annual Global Meeting
The increase in members from all over the world required the Council to revisit the frequency of the IGCS Meeting to occur every year rather than every two years. This decision not only benefits the organization’s yearly revenue but provides value to our members and attendees by providing more opportunities to share research, collaborate with colleagues, and bring women’s cancer awareness to the hosting area of the world.
Another important financial matter the Council examined in the last two years is the publishing agreement with our journal provider, leading us to negotiate a contract with a new publisher for the International Journal of Gynecological Cancer (IJGC) in concert with ESGO, our partner with the journal. Through the new agreement with the BMJ Publishing Group along with a new editorial team and structure, we are looking forward to seeing increased value and royalties in the years to come while decreasing the annual subscription rate paid by the societies and our membership.
Industry support has increased steadily over the last three years with our Women’s Cancer Corporate Roundtable. With our continued growth and global reach, I believe the Society will continue to be very relevant to our collaborators in industry.
Programmatic Growth: Commitment to Mentorship & Training
With projected fiscal growth, IGCS is and will continue to expand our international mentorship and training initiatives including the Global Curriculum and Mentorship Program and the re-establishment of the Traveling Scholars Program. The Council approved and committed to allocate close to $100,000 annually from the board-designated restricted funds to support these programs. As we increase our programs and provide services to a fast-growing membership, the Council is taking steps to ensure and continue to sustain and increase our annual operating revenue.
Over two years ago, IGCS made the conscious decision to start on a growth campaign and for this reason the Council recruited a seasoned CEO, Mary Eiken along with full-time staff to oversee the programs administered by IGCS and enhance our governance structure along with implementation of the strategic initiatives as approved by Council. I am sure it has been evident to all of you, the members of IGCS, the rejuvenation in the organization, our expansion in membership and ability to reach so many new members caring for women with gynecologic cancer around the globe.
If you have any questions about the society’s finances or programming, please feel free to email me at firstname.lastname@example.org or contact the IGCS CEO, Mary Eiken at email@example.com. It has been an honor to serve as your Secretary Treasurer these past two years and I am indebted and thankful to you, all my friends and colleagues in the IGCS family. I am confident that my successor, Prof. Andreas Obermair will take on the fiscal responsibilities of the role with great care for the organization and our members.
Walter Gotlieb, MD, PhD
IGCS Secretary Treasurer (2016-2018)