Financial Committee Luan Truong, Chair.
Members: Helen Liapis, Glen Markovitz, Laure-Helene Noel, David Thomas

This report addresses the following points: 1) The current financial status of the RPS. 2) Financial supports by the RPS. 3) Strategies for increasing funding for the RPS.

The Current Financial Status of the RPS
The balance on 9/30/05 was 39,380.81 dollars. The balance on 2/5/06 was 42,989.85 dollars. Each member of the Financial Committee has reviewed the balance sheet and verified the income and spending.

RPS Treasure’s report for 2006

Date                        1/3/06                                   

Start-up                                        $35,584.19*                                   

1/31/06            Postage for mailing invoices to members    $140.34                                                                                                                                       
Membership dues to date                        2/5/06                                                 $8,550.00
2006 Jacob Churg Award                                                                                 $500.00           
2006 Lilliane Striker Young Investigator Award                                             $500.00                                                                                                                    
                                                            Balance                                       $42,989.85

*this amount includes $5,500.00 for the Pirani Award

Please see the attached list of estimated major yearly incomes and expenses for a general idea about the financial status of the RPS.

Financial Support Originated from the RPS

The Financial Committee is aware of the following types of request for financial support from the RPS.  They are listed below with the recommendation from the Financial Committee.

• Request from members of the RPS who received invitations to lecture at national or international meetings.  Since this invitation may not come with financial support for traveling, these members turn to the RPS for total or partial support.
• Recommendation: The RPS should not support this kind of request because it is not  related to the missions or responsibilities of the RPS.
• Support for speakers invited by the RPS. Historically, speakers who are not the RPS members and who do not otherwise attend the USCAP companion meeting are very frequently invited to lecture at this meeting. Similar invitation may be needed for other RPS-sponsored meetings such as the satellite meeting. 
• Recommendation:  Voluntary self-payment for traveling expenses is welcome.  Otherwise, the RPS should pay for the expenses.  For speakers from North America, the support should be 100%, which should include the round-trip, economy airfare; one-night hotel room at the place where the meeting is held; and other miscellaneous expenses, including meals and ground transportation.  For speakers from outside of North America, there should be a ceiling for support.  The ceiling should be $1,500   dollars.  This should pay for the entire cost of the trip for the North American speakers and for a significant portion for international speakers.  The maximum number of outside speakers should be two.  The currently available fund from the Society should make this goal possible.
• Travel support from the Pirani fund:

Strategies for Increasing Funding for the RPS

The following venues are submitted for discussion. Please see also the attached table comparing different pathology subspecialty societies.

• Increased dues from $75 to $100.  Since the RPS has 300 regular member currently, this would add 7,500 dollars per year to the incomes.
• Encouraging voluntary contribution in addition to the regular membership due.
• Offering one, rather than two, cocktail reception, preferable the one during the USCAP meeting.
• Independent scientific course sponsored by the Society.  This is the most important venue to generate funds for some societies, including the Pulmonary Pathology Society and the Ultrastructural Pathology Society. Request for financial help from companies that make electron microscopy and fluoresceinated antibodies used by practically every renal pathology laboratory.
• Most renal pathologists would have the opportunity to interact with pharmaceutical company representatives during the local renal biopsy conference.  Inquiry for financial support may be initiated and the members of the Financial Committee contacted for follow-up action.  Companies with major interests in renal care include Amgen, Genzyme, Watson, Johnson &Johnson, and Orthobiotics. How to acknowledge this potential contribution needs to be developed. 

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