An Update from the Treasurer

I took over the job of Treasurer of the International League against Epilepsy (ILAE) in August 2005. The Information Officer, Simon Shorvon, thought that this would be a good time for me to summarise our financial structure and update our current situation for chapter members.

ILAE is a non-profit, publicly supported organization incorporated in the United States. As such, the League’s revenue is exempt from federal income tax according to US law. We are required to file an annual tax return that is prepared by Mike Ziebka, a partner in Budwitz & Meyerjack, P.C., Certified Public Accountants, who are based in Farmington, Connecticut. This firm is responsible for conducting an annual audit of our records in accordance with US accounting standards. Mike also works with the Treasurer in an advisory capacity in relation to all financial issues that may arise throughout the year.

The League adopted a new investment policy in 2004 with the assistance of Gary Rooth, Vice President and Senior Investment Management Consultant with Smith Barney Investments in Raleigh, North Carolina. The objective is to maintain a balanced and diversified portfolio that will minimize risk and maximize returns for the League. Our goal is to ensure that the annual income from these investments covers our operating expenses from year to year should the surpluses from Epilepsia and our international congresses dry up. Given the twin threats of open access publishing and shrinkage of the pharmaceutical industry’s commitment to epilepsy, this is not an impossible scenario. Our annual running costs now substantially exceed $1 million. In addition, the work of our Commissions and their funded projects usually extend across the complete 4 year term of each Executive Committee. It would be prudent, therefore, to identify other potential sources of income for the League and tentative plans in this regard are underway. 

ILAE’s Financial Manager, Donna Cunard, works closely with Budwitz & Meyerjack and with the Treasurer. Donna is based at the Financial Office in Hartford, Connecticut, US. She is responsible for maintaining all financial records in preparation for the League’s annual audit. She also assists the Treasurer with budget development and assumes responsibility for the day-to-day management of our operating account. In the past few months Grant Thornton, an Irish accounting firm, has been contracted to be financial administrator for the congress accounts.

Also based in the Hartford office is the League’s Administrative Director, Peter J Berry, CAE, who, in addition to supervising all work undertaken there, oversees the management of the Headquarters staff in Brussels. Peter has over 25 years of experience in association management. He is the liaison for the ILAE officers and organises the agenda for all Management and Executive Committee meetings wherever they take place around the world.

The financial status of the League is sound and, despite the caveats outlined earlier, we are in a good position to pursue an active epilepsy programme. With this in mind, the Executive Committee has identified two areas of particular interest - new projects and regional development. A total of 3% of the total investment portfolio of the League will be dedicated annually over the 2005-2009 term to underwrite these initiatives. Particular emphasis will be placed on proposals relating to education, epilepsy care and translational research.

Given that we have chapters in 96 countries with the expectation of more, it is imperative that we divide the global epilepsy agenda into more manageable groups with similar regional challenges. This process of setting up and developing the work of the Regional Commissions is a priority of this administration. One goal will be to coordinate their activities with the next phase of the Global Campaign against Epilepsy, our successful partnership with the World Health Organisation (WHO) and International Bureau for Epilepsy (IBE). There is a particular need to push forward with the establishment of the African Commission and to assist further with the development of the Latin American and Eastern Mediterranean programmes. A final objective is to define an active agenda for the North American Commission working in partnership with the American Epilepsy Society. 

I’d like to mention just one more initiative – the solidarity fund. This is composed of contributions donated exclusively for the use of chapters in the developing world requesting assistance with the payment of their annual dues. My personal thanks, therefore, go to the US, German, Swiss, Canadian, Taiwanese and Italian (twice!) chapters for their generous financial support in 2005 and 2006. 

It just remains for me to remind you that I am available to advise on any financial matters relevant to League business (mjb2k@clinmed.gla.ac.uk). As a Scotsman, I can never promise to be generous, but I’ll do my best to support all appropriate projects geared at improving the lives of people with epilepsy. I hope that many of you will contribute some time toward helping the League achieve its objectives.

Martin J Brodie
Treasurer, ILAE 
Glasgow, Scotland