• June 13, 2007

     
     
     
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    ASBMR Summer Council Meeting Minutes

    Washington, DC, USA
    June 13, 2007

    Call to Order and Introductions
    At 8:30 a.m., ASBMR President Steven Goldring welcomed participants, recognized a quorum, and reviewed ASBMR’s confidentiality statement. Dr. Goldring reiterated the need for Councilors to review the disclosure spreadsheet and recognize when they are in conflict during the meeting and recuse themselves as necessary.

    Approval of Council Minutes
    A motion was made and seconded to approve the February 9, 2007, Council Minutes. The motion passed.

    President’s Report
    Dr. Goldring highlighted several recent ASBMR accomplishments from his May 2007 report to Council.

    • The Councilor conference calls were highly insightful and helpful in setting the agenda for the upcoming Council meetings in June and August.
    • 2007 Annual Meeting abstract submissions were strong with 1,884 abstracts submitted.
    • Planning for 2007 Topical Meeting on Targeting Bone Remodeling for the Treatment of Osteoporosis continues. The abstracts deadline is September 4.

    President-Elect’s Report
    ASBMR President-Elect Barbara Kream presented highlights from her report to Council:

    • The Committee Chair conference calls were extremely informative.
      • The 2008 Annual Meeting Program Co-chairs will be Raj Thakker and Phil Osdoby.
      • A survey will be sent to the membership about its thoughts on speakers and topics for the 30 th Annual Meeting.

    Executive Director’s Report
    ASBMR Executive Director Ann Elderkin reported:

    • The Society is on track to meet budget, and indicators are that ASBMR may exceed revenue projections.
    • ASBMR Publications Office is now fully staffed and ASBMR welcomes Director of Publications Lisa Dittrich and Editorial Assistant Aaron Fennell to the “Bone Team.” In addition, David Allen has been promoted to Deputy Director of Publications.
    • A search is currently underway for a new Director of Development who will focus on corporate support.
    • Marc Charon, CFO has taken a new position but will continue his work with the ASBMR through the end of August. A search is underway for his replacement.
    • Earline Marshall has transitioned to Senior Grants Administrator and assists with corporate grants writing in this capacity.
    • Doug Fesler has assumed day-to-day operational oversight.
    • Gretchen Bretsch has assumed more responsibilities with governance administration.

     Dr. Goldring thanked the Council, Committees, and Staff for their hard work on behalf of the Society.

     Investment Update and Proposed Investment Objectives and Policy Statement
    ASBMR Secretary-Treasurer Keith Hruska presented an overview of the proposed investment objectives and policy statement. He noted that the objectives of the proposed investment policy include:

    • More substance and a better overall mechanism to measure performance
    • A strategy that incorporates the percent of net assets the portfolio represents
    • An updated Target Asset Allocation Table that includes managed futures and benchmark(s) for each asset class.
    • Strengthened reporting and performance management

    A motion was made and seconded to approve the Finance Committee’s recommendations to change the Society’s Investment Objectives and Policy Statement. The motion passed.

    Proposed Net Assets Policy
    Dr. Hruska presented an overview of the proposed net asset policy that will be discussed at the August 2007 Council Meeting:

    • It is timely to revise the ASBMR Net Assets Policy to establish that there will be one year’s operating expenses kept in reserve but that there will be greater flexibility in spending funds in excess of that amount and in the maintenance of the funds.
    • A revised policy should include a target range and minimum and maximum amounts to provide guidance and direction to the leadership. The proposed policy aims to ensure that ASBMR never becomes non-compliant with its policy.
    • Next steps include:
      • developing different scenarios for Operations and Investment Returns to determine how long excess reserves could last
      • seeking Council input on how to spend the excess over the next three years
      • presenting the recommendations and voting on a new policy at the August 2007 Council Meeting

    Secretary-Treasurer’s Report

    Update on 2007 Budget
    Dr. Hruska reported that the First Quarter Forecast shows no major variances from budget.

    • The July Forecast will be much more meaningful as more information will be available on the annual meeting, corporate support and membership dues.
    • Annual Meeting abstract submissions were better than expected, which should have a positive correlation on registration.
    • Corporate Support is on target to at least meet Budget.
    • Excess cash flow remains extremely healthy; funds held at Capitol Securities will be moved to UBS to earn a slightly better interest rate and to consolidate the Society’s assets.

    Update on Corporate Support
    Ms. Elderkin reported that corporate support is coming in steadily and exhibits sales have exceeded budget.

    2006 Audit Report
    Dr. Goldring reported that the 2006 Audit Report is not yet complete, but should be available in the coming weeks.

    Evaluation of Current Awards Programs
    Overview of Core vs. Ancillary Trends and Awards Programs - Ms. Elderkin presented a summary of 2007 budgeted expenses and revenues for ASBMR’s core and ancillary awards programs, noting that:

    • In the operating budget, expenses exceed revenue for the grant and awards programs.
    • If it is not feasible to trim some of the costs associated with the grant and awards programs – both in terms of programs and allocation of staff time – some of the funds in reserve could be invested to generate more income.

    Bridge Funding Research Grants: Updates and Recommendations - Senior Grants Administrator Earline Marshall presented an overview of the ASBMR Bridge Funding Grant Program evaluation and Bridge Funding Awards Committee recommendations as follows:

    • Continue the Bridge Program through 2008
    • Offer the same number of awards and amount of grants
    • Continue to actively inform members about the program through email, the ASBMR website and during the ASBMR Annual Meeting
    • Remove criteria requirement that initial unfunded grant from the major funding source have a score in the top 25th percentile
    • Maintain the current eligibility criterion to include applicants who have other funding sources, but require such applicants to explicitly justify the additional funds being sought
    • Revise the application announcement and form to include:
    • A summary statement from all funding sources
    • A template application form so that all required information is provided
    • Identify a pool of reviewers before the process begins
    • Revise reviewer instructions and form to simplify the process for the reviewer
    • Acknowledge reviewers at the Annual Meeting

    Bridge Funding Committee Co-chairs Robert Nissenson and Bess Dawson Hughes joined the meeting by teleconference and also recommended:

    • Extending the grant deadline to July 16 th and actively publicizing the grants through weekly email promotions
    • Considering Increasing the number of review cycles from two to three

    A motion was made and seconded to approve the Bridge Funding Evaluation Committee’s Recommendations. The motion passed.

    Career Enhancement Awards: Update and Recommendations - Ms. Marshall presented an overview of the ASBMR Career Enhancement Awards and its Committee’s recommendations.

    A motion was made and seconded to approve the Career Enhancement Award (CEA) Evaluation Committee’s Recommendations with the following changes:

    • Add “General Research Award” that would provide funding for research without requiring applicant to leave home institution or need a mentor
    • Increase award to $50,000 and allow the budget to include the purchase of computers and other equipment (up to $5,000)
    • Add that CEA applicants may be employed as full-time faculty Assistant Professor or in early states of independent career, normally 10 years beyond post doc level
    • Explore industry-supported grants

    The motion passed.

    Additional discussion regarding the criteria related to CEA eligibility and award amount was deferred until the August 28, 2007, Council Meeting.

    Proposed Shun Harada Young Investigator Awards

    Ann Elderkin presented a proposal to establish the Shun Harada Young Investigator Awards

    • The ASBMR has received donations in memory of the late Dr. Shun Harada, an ASBMR member and a former Young Investigator Award Recipient (1996). It has been recommended by his family and friends that this money be put toward support of ASBMR Young Investigator Awards.
    • As a tribute to Shun Harada, the Shun Harada Young Investigator Awards will be established. At each of the next five years’ Annual Meetings, ASBMR will give three awards of $1,000 each to young investigators who receive the highest ranking for abstracts submitted in the categories most closely related to the scientific contributions made by Shun Harada (Bone, Cartilage and Connective Tissue Matrix; Osteoporosis – Treatment (Clinical); Osteoporosis – Pathophysiology). These awards will be given in addition to the 50 Young Investigator Awards ASBMR offers each year.

    A motion was made and seconded to establish the Shun Harada Young Investigator Awards as follows:

    At each of the next five Annual Meetings, ASBMR will give three awards of $1,000 each to young investigators who receive the highest ranking for abstracts submitted in the categories most closely related to the scientific contributions made by Shun Harada (Bone, Cartilage and Connective Tissue Matrix; Osteoporosis – Treatment (Clinical); Osteoporosis – Pathophysiology).

    The motion passed.

    Request for Young Investigator Awards for 2nd International Conference on Osteoimmunology
    ASBMR Councilor Mark Horowitz presented a request for $20,000 to support Young Investigator Awards for 2nd International Conference on Osteoimmunology.

    • This funding will be used to support young investigators (students, postdocs, and junior faculty with less than three years as an assistant professor or equivalent).
    • The money will be used as travel awards or as poster awards. This means the conference could support 30 individuals (10 travel awards at $1,000 and 20 poster awards at $500).

    A motion was made and seconded to approve the request for financial support. The motion passed. Drs. Goldring and Horowitz abstained from voting.

    Proposed 2nd Annual Research Forum for Fellows Training in Metabolic Bone Diseases (EFF/ASBMR)
    Ann Elderkin reported on a request to Council from Endocrine Fellows Foundation (EFF) Chair John Bilezikian that EFF and ASBMR join together to provide a 2 nd annual forum for fellows who are training in metabolic bone diseases.

    • The EFF/ASBMR Forum would be held on Saturday, September 15 th, in conjunction with the 29 th ASBMR Annual Meeting in Honolulu, Hawaii.
    • The first forum, held during the 2006 ASBMR Annual Meeting, was very successful both programmatically and financially.
    • Council approved putting the proceeds from the 2006 forum in escrow for 2007.
    • EFF is proposing to continue to plan for a 50/50 split of whatever balance of funds remains after $150,000 is put in escrow for the 2008 program.

    A motion was made and seconded to approve the EFF/ASBMR Forum to be held on Saturday, September 15th, in conjunction with the 29th ASBMR Annual Meeting in Honolulu, Hawaii. The motion passed with one negative vote and one abstention.

    Report from the Nominating Committee
    Elizabeth Shane presented the Nominating Committee report and slate of 2008 Officer and Councilor ballot nominees, as well as Committee appointments.

    A motion was made and seconded to approve the Nominating Committee recommended slate of ASBMR Officers, Councilors and Committee members with changes. The motion passed.

    National Coalition for Osteoporosis and Bone Related Disease, 2007 Strategic Plan
    Ms. Elderkin presented an overview of the National Coalition for Osteoporosis and Bone Related Diseases (Bone Coalition).

    Bone Coalition lobbyists Dominic Ruscio and Joyce Briscoe, and Advocacy Committee Chair Lynda Bonewald presented an overview of the current research funding climate in the U.S. Congress and detailed the work of the Bone Coalition over the past six months.

    ISCD Task Force on DXA Reimbursement
    ASBMR Associate Executive Director Doug Fesler updated the Council on the work of the ISCD DXA Work Group.

    ASBMR Annual Meetings
    2007 ASBMR 29th Annual Meeting in Hawaii
    ASBMR Program Manager Rebecca Myers gave an overview of the 29th Annual Meeting program, noting that work is in progress to complete the Program and Abstracts book that will have a newer and leaner appearance.

    Melissa Huston reported that Annual Meeting registration, hotel bookings and exhibit sales are robust.

    2015 Annual Meeting Venue Site Search
    Melissa Huston presented meeting site proposals for the 2015 Annual Meeting from Salt Lake City, Seattle, Atlanta, Seattle, San Francisco and Philadelphia.

    By majority vote, Seattle was selected as the 2015 Annual Meeting venue.

    Proposed Sunset for Archives Committee
    Mr. Fesler presents the recommendation to sunset the Archives Committee.

    A motion was made to sunset the Archives Committee. The motion passed.

    ASBMR Topical Meetings

    Targeting Bone Remodeling for the Treatment of Osteoporosis
    ASBMR Project Manager Gretchen Bretsch reported:

    • The call for abstracts opened in early May.
    • Almost all of the invited speakers are confirmed.
    • The meeting has been approved for 12.5 Category I CME credit hours.

    2008 Topical Meeting
    Dr. Kream has received feedback from Executive Committee, Corporate Advisory Board, Advocacy Committee, and conversations with other scientists on topics for the 2008 topical meeting. Proposed topics include:

    • Bone and Fat
    • Osteocyte Biology
    • Stem cell niches
    • Fracture repair and regeneration
    • State-of-the art bone imaging

    Dr. Kream encouraged Councilors to contact her with any other ideas of topics they may have.

    Dr. Goldring noted that the topical meetings have been very successful. NIH has been very interested in the topical meetings.

    Publications

    JBMR Report
    ASBMR JBMR Editor-in-Chief John Eisman presented highlights from his report to Council.

    • He commended Deputy Director of Publications Dave Allen and Publications Specialist Matt Kilby for the smooth operation of the ASBMR Publications office during the transition period involving staff changes.
    • The Task Force that convened to examine publishing procedures and standards received endorsements for the AAMC Guidelines on Principles for Protecting Integrity in the Conduct and Reporting of Clinical Trials from all participating societies.


    Editor-in-Chief Search
    Deputy Director of Publications David Allen updated the Council on the JBMR Editor-in-Chief Search:

    • Interviews are scheduled for five Editor-in-Chief candidates.
    • A report will be presented to Council in August with top choice for Council approval.

    Publications Office Update
    ASBMR Director of Publications Lisa Dittrich updated the Council on her first three weeks as Director of Publications.

    7th Edition Primer Update
    Publications Specialist Matt Kilby updated the Council on the Primer on the Metabolic Bone Diseases and Disorders of Mineral Metabolism, 7th Edition.

    • Primer sales are brisk
    • The Primer was launched on Amazon.com in April 2007.

    Updates/New Business

    Approval of Program Chairs for Annual Meeting and Topical Meeting
    Past Secretary-Treasurer Marc Drezner presented the idea that Council should be more involved in offering suggestions to the President-Elect on possible candidates for Annual Meeting and Topical Meeting Program Chairs/Organizing Committees. Council concurred.

    Task Force on Osteonecrosis of the Jaw (ONJ)
    Past President Elizabeth Shane reported that the Task Force on Osteonecrosis of the Jaw (ONJ) completed its report and submitted a manuscript to JBMR, which will be published in JBMR Online.

    Consent Agenda

    A motion was made to approve the Consent agenda. The motion passed.

    Adjourn
    Dr. Goldring adjourned the meeting at 3:25 p.m.