Finance Committee Update

The Finance Committee would like to welcome their newest members, Michael-Alice Moga MD, Josh Blinder MD, and Andrew Smith MD. We are looking forward to their close collaboration and hard work on advancing the committee’s priorities and making 2022 another successful year.

Investments: The last committee meeting included an update by our financial advisor, Mr. Kenny Janes from UBS. Our investment portfolio was rebalanced last year to take advantage of the current financial outlook with a return on investment of 13.67% for 2021. Inflation pressures in 2022 will continue to impact the financial outlook which we are monitoring closely. Additional rebalancing of the portfolio will be considered in our April meeting in accordance with our Investment Guideline.

Budget: We are excited to support the society in developing and conducting our 2022 in-person live meeting in Miami. Last year we were successful in raising revenue from membership and conference registration to overcome our financial challenges, producing a small net gain. 2022 will continue to be challenging with rising costs in hosting the in-person meeting. The committee is aggressively reviewing and managing costs as well as developing novel sources of income to balance the 2022 budget.

Sponsorship: In an effort to develop novel sources of revenue and streamline the sponsorship process, the Finance committee in embarking on developing long-term relationships with industry partners for multi-year sponsorship through 2027. We are working closely with several PCICS committees to create sponsorship opportunities and are in the final stages of approving the 2022 conference prospectus.

Foundation subcommittee: The Foundation Subcommittee led by Amy Donnellan has made excellent progress in developing the mission and vision for the PCICS Foundation. Currently IMI and the Foundation Subcommittee are working on creating the Bylaws and Case for Support documents as they work towards fully activating the Foundation.