In 2019, the EADV’s finances have strengthened thanks to the success of the 28 th EADV Congress in Madrid, increases in the number of members, and royalties from the JEADV, which is published under the full responsibility of the Academy. Compared to 2018, this year’s revenue increased by 1% and expenses decreased by 6%. Congress organisation remained the major source of income and generates over 85% of the total Academy revenue. Year after year congress income has been increasing, demonstrating the interest generated by the event in the dermatology community. Moreover, due to a large number of paying participants, the Congress’s income is sufficient to cover the cost of the Congress organisation, even without the support of sponsors and the leasing of exhibitor space. The measures implemented to manage costs have contributed to improving financial performance and the continuance of the dedication of funds to reach the EADV’s goals. The Academy employs 37 workers between the Lugano and Brussels offices; to maintain this organisation a fixed amount of at least 4 million Euros is necessary. Extra income is primarily spent on activities: dermatology courses, various scientific projects, fellowships, and many other undertakings like the European Survey for the burden of skin diseases, which is dedicated to education, health policy and patient care. Financially, the Academy remains solvent and liquid: about 95% of assets are represented by cash and investments. To protect assets from the uncertainty of the financial market, the EADV has implemented a conservative approach: funds are spread over several banks, and financial products are selected with the goal to preserve the capital invested. These positive financial results have made the Academy financially strong, able to support all its activities from
its own sources, and ready to face the challenges that the future has in store for us. You will find below the income statement and the balance sheet as of 31 December 2019.
EADV Head of Finance and Controlling
The EADV Executive Committee and Board of Directors (Madrid, October 2019)