Society's Assets and Liabilities as of 2022 December 31:
| Assets | |
| Cash account | 3,659,186.72$ |
| Certificate of deposits | 2,145,456.55$ |
| Prepaid expenses | 253,424.20$ |
| Accounts receivable | 0.00$ |
| Total | 6,058,067.47$ |
| Liabilities | |
| Accounts payable | 703,539.74$ |
| Deferred membership | 30,442.80$ |
| Deferred Journal Revenue | 576,732.00$ |
| Total | 1,310,714.54$ |
| Net assets | 4,747,352.93$ |
This report covers the 12 months from 2022 January 1 to 2022 December 31. The Society continues to be in good financial health. For 2022, the net revenue collected by the Society was $821,734.14, with the main sources of revenue being our 2 journals, Molecular Biology and Evolution (MBE; $562,992) and Genome Biology and Evolution (GBE; $226,268). The revenue for both GBE and MBE was down from last year, but these 2022 figures will likely more accurately reflect the expected future revenue for the journals, as these figures reflect the complete shift to the Open Access model of publishing with no residual subscription carry-forward as has happened in the past 2 years.
Before the COVID-19 pandemic, most of the Society's expenses were dedicated to travel for the in-person annual meeting. However, the in-person annual meeting was again canceled in 2022 and was held virtually. The bulk of the Society's 2022 expenses of $723,018.30 were toward payouts to journal Editors-in-Chief, journal editing, and marketing efforts, the organization and implementation of the 2022 virtual meeting, and Society prizes such as the midcareer award, lifetime contribution award, and graduate student excellence awards. Some in-person SMBE Satellite meetings also returned in 2022.
Society's Revenues and Expenses for FY2022:
| Revenues | |
| Membership dues | 22,076.56$ |
| MBE FY2020 revenue | 562,992.00$ |
| GBE FY2020 revenue | 226,268.00$ |
| Unrestricted donation | 495.00$ |
| Interest income | 9,902.58$ |
| Total revenues | 821,734.14$ |
| Expenses | |
| Miscellaneous prize and career awards | 11,000$ |
| Total prize and awards | 11,000$ |
| Operating expenses | 45,011.72$ |
| Executive administration | 36,595.95$ |
| Corporation fee | 40.00$ |
| Council travel | 112.38$ |
| Banking charges | 885.87$ |
| Tax preparation and consultancy fees | 5,500.00$ |
| Total operations | 88,145.92$ |
| MBE editing | 241,000.00$ |
| Editorial assistance | 7,796.62$ |
| GBE editing | 100,000.00$ |
| GBE highlight honoraria | 33,555.00$ |
| Total editorial | 382,351.62$ |
| Annual SMBE meeting | 72,843.28$ |
| Seed money for 2023 meeting | 22,471.48$ |
| Satellite meetings | 146,206.00$ |
| Total meetings | 241,520.76$ |
| Total expenses | 723,018.30$ |
| Change in net assets | 98,715.84$ |
Contributor Information
Prepared by John P McCutcheon, SMBE Treasurer.
Audited by Jeffrey L Thorne, SMBE Treasurer.