IEEE Power & Energy Magazine - May/June 2016 - 6

leader's corner

Christopher Root

where the money is
an outline of PES's financial structure

W

W h eth er YOu A r e A lOngtime loyal reader or a newly minted
Ieee Power & energy Society (PeS)
member, you may wonder why the
PeS treasurer would author an article
in a column traditionally reserved for
the president. PeS President Damir
novosel's goal in asking me to accept
this honor is to share some of the contributions, responsibilities, and paths
of those of us who serve on the PeS
governing Board. I thank him for this
opportunity and hope that you find this
column helpful to you in your participation in the Society.
I have been on the PeS governing
Board for nine years, first as a memberat-large, then secretary, and now as treasurer for my second term. During that
time, I have learned much about how
the Society operates and truly works
to meet the needs of the many different
groups in PeS and in our industry.
As treasurer, it is my responsibility
to oversee the budgeting and spending
processes at PeS. the Society is a very
healthy organization financially, and
an outline of our financial structure
may help explain why we enjoy such
an enviable position. PeS is a technical Society within the Ieee, and both
are nonprofit organizations based on
the laws of united States. this is an important relationship and explains why,
when PeS generates revenues in excess
of expenses in any given year, the surplus is placed into a reserve account
Digital Object Identifier 10.1109/MPE.2016.2525239
Date of publication: 19 April 2016

6

ieee power & energy magazine

PES 2015 Income Budget

23.0%
36.7%

40.5%

Meetings
Periodicals
Committees

figure 1. A breakdown of PES
revenue.

with Ieee. At the end of 2015, the PeS
reserves were approximately uS$16
million. this is an accumulated amount
over many years. this
is one example of the
financial health of
PeS. Our objective
is to use this financial health to support
global initiatives that
help our membership,
industry, and society.
the annual budget
for PeS f luctuates
greatly in successive
years. this is a result
of sig nificant revenue increases that
take place in even years, driven by our
t&D Conference and exposition. the
Society's revenue comes from three

major areas: 1) publications, 2) meetings and conferences, and 3) membership dues. Figure 1 breaks down the
sources of 2015 revenue by percentage.
PeS and I eee a re significant
sources of technical information in the
world, and they sell technical papers
to customers through numerous journals, tutorials, webinars, courses, and
magazine advertising sales.
the second source of revenue is
through our two-dozen financially
sponsored and cosponsored meetings
and conferences that are held around
the world. One meeting is the single
largest determining factor in whether
there will be a budget surplus or deficit
for the Society in any given year. that
is the success of the PeS t&D exposition and Conference, which attracts
over 12,000 people every two years
and is held in the united States. this
conference is demanding and expensive to organize and
run but generates a
considerable surplus
for PeS. It is truly one
of the more important
venues for discussions about new utility
products and services
and interactions between suppliers and
utility personal. As a
result, in successive
years, our budgets are
significantly different. In these even
years, PeS revenues are approximately uS$16 million (the 2016 estimate),
but in the odd years revenues drop to

In the last few
years, PES
has provided
start-up funding
for two
major efforts.

may/june 2016



Table of Contents for the Digital Edition of IEEE Power & Energy Magazine - May/June 2016

IEEE Power & Energy Magazine - May/June 2016 - Cover1
IEEE Power & Energy Magazine - May/June 2016 - Cover2
IEEE Power & Energy Magazine - May/June 2016 - 1
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IEEE Power & Energy Magazine - May/June 2016 - Cover3
IEEE Power & Energy Magazine - May/June 2016 - Cover4
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