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people connecting with people_ working with people_ helping people


									people connecting

with people,

we’re people
working with people,

helping people

a n n u a l   r e p o r t   2 0 0 4
we’re the

                                the Ieee is the leading organization for the advancement of technology.
                                our global association consists of members who are engineers,
                                scientists and allied professionals, and their technical interests are
                                rooted in the electrical and computer sciences, and in engineering
                                and related disciplines.

                                the Ieee’s two predecessor societies –the american Institute of
                                electrical engineers and the Institute of radio engineers–were founded
                                in 1884 and 1912, respectively. the two organizations united in 1963 to
                                form the Ieee.

                                at year-end 2004, the 38 Ieee Societies and four Ieee technical
                                Councils provided an unmatched ability to embrace the breadth and
                                depth of existing technologies and to represent emerging and
                                converging areas of interest. also at year’s end, the cohesive Ieee
                                geographic organization encompassed 307 Sections, 1,446 Chapters,
                                1,333 Student Branches, and 345 Student Branch Chapters. together,
                                they facilitate local communications and activities among more than
                                365,000 members in about 150 countries.

table of contents

who we are 01   message from the president and the executive director 03   serving society 04

serving members 10    products and services 13   membership development 19      operations 20

awards, fellows and honors 21   2004 board of directors and management council 23

message from the treasurer 24   report of independent auditors 24   financial statements 25
who we are
Society Memberships                                                                                             Financial Information 2000–2004
IEEE	Aerospace	and	Electronic	Systems	Society	                                             5,064                (US$000)	          	      2000	 	       2001	 	        2002	 	       2003	 	      2004
IEEE	Antennas	and	Propagation	Society	                                                     8,050
IEEE	Broadcast	Technology	Society	                                                           1,973              Total	Assets	          $	 285,587	 $	 285,867	 $	 253,376	 $	 254,871	 $	 284,057
IEEE	Circuits	and	Systems	Society	                                                          12,119              Revenue	           	      190,791	 	    199,331	 	     199,805	 	    250,178	 	   276,993
IEEE	Communications	Society	                                                              46,952                Net	Assets	        	      121,676	 	    92,350	 	        91,011			   116,602	 	   138,588
IEEE	Components,	Packaging,	and	Manufacturing	Technology	                                    3,127
IEEE	Computational	Intelligence	Society	                                                    5,482                                 Membership Status
IEEE	Computer	Society	                                                                    92,846
                                                                                                                                                 Honorary	Members		24
IEEE	Consumer	Electronics	Society	                                                            3,161
                                                                                                                                                         Fellows		5,666
IEEE	Control	Systems	Society	                                                               8,707
                                                                                                                                                Senior	Members		27,007
IEEE	Dielectrics	and	Electrical	Insulation	Society	                                         1,987
                                                                                                                                                      Members		237,821
IEEE	Education	Society	                                                                      3,071
                                                                                                                                                     Associates		26,607
IEEE	Electromagnetic	Compatibility	Society	                                                 4,251
                                                                                                                                                       Students		68,358
IEEE	Electron	Devices	Society	                                                             11,494                                            Total	Membership		365,483
IEEE	Engineering	in	Medicine	and	Biology	Society	                                           7,848
IEEE	Engineering	Management	Society	                                                        6,359              Members in Global Workforce
IEEE	Geoscience	and	Remote	Sensing	Society	                                                2,909
                                                                                                           	                                    Industry	       	    49.6%
IEEE	Industrial	Electronics	Society	                                                        3,676
                                                                                                           	                                   Academia	        	    24.8%
IEEE	Industry	Applications	Society	                                                        9,864
                                                                                                           	                                Government	         	     8.8%
IEEE	Information	Theory	Society	                                                            3,918
                                                                                                           	                              Self-employed	        	     5.6%
IEEE	Instrumentation	and	Measurement	Society	                                               4,341
                                                                                                           	                                     Retired	       	     3.9%
IEEE	Lasers	and	Electro-Optics	Society	                                                     8,024
                                                                                                           	                                Unemployed	         	     2.8%
IEEE	Magnetics	Society	                                                                     2,817
                                                                                                           	                                       Other	       	     4.5%
IEEE	Microwave	Theory	and	Techniques	Society	                                             12,027
IEEE	Nuclear	and	Plasma	Sciences	Society	                                                  2,866                                        ages of Members
IEEE	Oceanic	Engineering	Society	                                                           1,588
IEEE	Power	Electronics	Society	                                                            5,608           	                                    Under	30	       	    25.7%
IEEE	Power	Engineering	Society	                                                           21,364           	                                       30-39	       	    20.3%
                                                                                                           	                                      40-49	        	    22.9%
IEEE	Product	Safety	Engineering	Society	(New)	                                                 472
                                                                                                           	                                      50-59	        	    16.3%
IEEE	Professional	Communication	Society	                                                    1,330
                                                                                                           	                                      60-69	        	     8.5%
IEEE	Reliability	Society	                                                                   2,038
                                                                                                           	                                 70	and	over	       	     6.3%
IEEE	Robotics	and	Automation	Society	                                                      6,093
IEEE	Signal	Processing	Society	                                                            15,715
IEEE	Society	on	Social	Implications	of	Technology	                                          1,964
IEEE	Solid-State	Circuits	Society	                                                         12,361          	                                       Female	      	 8.8%
IEEE	Systems,	Man,	and	Cybernetics	Society		                                               3,890           	                                         Male	      	 91.2%
IEEE	Ultrasonics,	Ferroelectrics,	and	Frequency	Control	Society	                            2,199
IEEE	Vehicular	Technology	Society	                                                          4,345                        Geographic Distribution
                                                                                                           	                              United	States	        	 60.5%
Note:	About	36	percent	of	IEEE	members	belong	to	at	least	one	Society;	while	20	percent	belong	to	         	                    India/China/Pacific	Rim	         	 17.4%
two	or	more.	                                                                                              	                  Europe/Middle	East/Africa	        	 14.6%
                                                                                                           	                                     Canada	        	 4.1%
Sources: Members	in	Global	Workforce	data	from	2004	Member	Satisfaction	Survey;	age	and	                   	                              Latin	America	        	 3.3%
gender	data	are	from	IEEE	Membership.	All	other	membership	data	are	from	the	Annual	Statistics	                                                     Note:	Percentages	total	
of	the	IEEE	–	2004.                                                                                                                           99.9	percent	due	to	rounding.	



 2004 highlights

 january                                  FeBruary                             MarCh

 Ieee Xplore® online content totals one   Ieee is lead society for first        Ieee life Fellow leo Beranek receives
 million documents                        international engineers Week         u.S. national Medal of Science
 arthur W. Winston takes oªce as 2004     alan Kay, Butler lampson, robert     Ieee strengthens global standards
 Ieee president                           taylor and Charles thacker receive   presence with Itu radiocommunica-
                                          nae’s Charles Stark Draper prize     tions sector membership
                                          Ieee life Fellow Frank S. Barnes     Ieee Distributed Systems becomes
                                          receives nae’s Bernard M.            Ieee’s first free online-only publication
                                          Gordon prize
                       Message from the President and the Executive Director

In 2004, the Ieee again demonstrated that we are an                  million. on 31 December, our 10-year plan to build Ieee
organization of people connecting with each other and                reserves to 50 percent of our operating budget was achieved
working together to advance the practice of engineering              in just three years. the increased emphasis on strategic
and the application of technology for the benefit of                  planning begun in 2004 will help to continue building and
people everywhere.                                                   optimizing all areas of our operations.
   our accomplishments spanned many areas, but shared                   throughout Ieee operations, our dedicated volunteers
one essential principle: the Ieee’s mission to facilitate the        and staff again teamed to deliver outstanding results. We
global exchange of information and ideas.                            introduced or enhanced a variety of new products and
   Because we serve a worldwide membership and we                    services, reflecting our goal of providing members and
believe in free, open scholarly exchange, one of our notable         other people with easy access to useful Ieee information.
achievements during 2004 was our successful negotiations                the Ieee enterprise online library, launched in 2004, has
with the u.S. treasury Department’s oªce of Foreign assets           been received enthusiastically by the medium and smaller
Control (oFaC). after more than two years of working                 businesses to which it is geared. Ieee enterprise provides
with key oFaC oªcials, in april we obtained a ruling that            instant desktop access to articles and papers from Ieee
exempted the Ieee’s peer review and editing processes from           publications, with three different access levels and prices
oFaC regulations, thus ensuring that authors anywhere                based on the business’s information needs. In addition,
could publish their research in our journals. this ruling            the Ieee Member Digital library, which lets individual
enabled the Ieee to focus its resources on assessing                 members purchase a reasonably priced package of articles
unresolved membership issues. In october, we restored                each month, enjoyed additional acceptance and growth.
electronic communications for members in countries under             these products contributed to the use of Ieee Xplore®,
u.S. trade embargoes. Finally, in December, pressure from            our online delivery platform, which grew another 18
the Ieee and other groups resulted in oFaC issuing general           percent last year, with an average 4.3 million full-text pDF
licenses that freed up co-authorship and collaboration with          documents downloaded each month.
authors in the oFaC-embargoed countries.                                a metric we established in 2003, which established the
   Globalization, and the fact that technological progress           strong link between Ieee technical literature and company
has no national boundaries, was further highlighted at our           patents, again demonstrated persuasive results. according
2004 Ieee honors Ceremony. We presented the Ieee                     to Ieee-commissioned research, Ieee-published technical
Medal of honor to tadahiro Sekimoto, former chairman                 articles were cited in 39 percent of all patent citations in
of neC Corporation. We also honored 19 other notable                 2003 in our fields of interest–more than three times that of
engineers and scientists and two corporations–together,              other publishers.
a microcosm of our global organization.                                 Ieee conferences also set a new record in 2004, with
   the importance of thinking strategically and of                   thousands of members and other technical professionals
considering the multitude of continuing changes in how               attending and networking at 335 events sponsored either
engineers think, communicate and work, received fresh, new           entirely or in part by the Ieee.
emphasis. our Board of Directors increased its focus on this            our growth in online services is reflected in more than
critical skill, which will help shape the future of the Ieee.        90 Ieee communities at year’s end. they are encouraging
   Despite continued world tensions and sluggish global              thousands of members to network asynchronously on a
economy, the Ieee’s international family grew in 2004.               variety of technical, career development and related topics.
at year’s end, Ieee membership had increased 1.2 percent,               Because our members and our interests are worldwide,
to 365,483. Student membership, which had declined                   the Ieee is committed to enabling people to connect with
in 2003 after a substantial dues increase, not only                  each other for the benefit of global society. We will continue
rebounded, but also was the reason for much of the                   to build upon that tradition.
overall membership growth.
     In the third year of our current financial model, Ieee
operations ended 2004 favorable to budget by uS$11.4
million. Moreover, despite ongoing diªculties in the global          Daniel	J.	Senese	               Arthur	W.	Winston
investment markets, net investment gains were uS$13.2                IEEE	Executive	Director	        	2004	IEEE	President

Since the 18th century, when Dutch windmills helped to           thanks to Ieee Member oyewole
launch the Industrial revolution, the netherlands has relied     Funso-adebayo –and some help
on the wind to help provide energy. today, the rotterdam         from the Ieee Foundation, the
harbor has several wind farms, or clusters of wind turbines.     Ieee and hewlett-packard
like their predecessors, these turbines generate electricity     Foundation –students at the
with great energy eªciency and without emitting greenhouse       university of Ibadan now have a
gases. Courtesy of Siemens.                                      60-seat computer center.

Serving Society

From a Chance Meeting, a Computer Center                               West african nation of 137 million people. the nigerian
For Nigerian Engineering Students                                      government is watching the project as a possible model for
                                                                       training a better-educated national population of engineers.
helping others often begins in small, unexpected ways.                    hewlett-packard (hp) donated the computers,
In mid-2003, while Ieee Spectrum Senior associate editor               peripherals and a diesel-power generator for the 60-seat
harry Goldstein was on assignment in nigeria, Ieee                     center, as well as the cost for the first year of Internet
member oyewole Funso-adebayo asked him for help with                   access. the Ieee Foundation is funding two more years of
obtaining a laptop computer for a student. Goldstein                   Internet access and half of the center coordinator’s salary
learned that students at nigerian state universities typically         for two years. In addition, Ieee Spectrum is paying the
do not have access to computers or the Internet to look up             other half of the coordinator’s salary for this period, and
technical material, and those students who can afford it use           the Ieee donated a three-year subscription to the Ieee/Iee
computers at commercial Internet cafés.                                electronic library (see page 14) of more than 1.1 million
   Back home, Goldstein realized that while one laptop                 Ieee technical articles.
might be useful, a computer center for Funso-adebayo’s                    “We try to make sure our investments will foster an
alma mater, the university of Ibadan, would benefit the                 activity the community can sustain,” said Gilles lambinet,
entire student body. he applied for and received grants                of hp’s philanthropy Board for the Middle east and africa.
from the hewlett-packard Foundation and the Ieee                       “With the Ieee as a committed partner, we can achieve that
Foundation totaling more than uS$150,000 to create a                   goal of sustainability.”
state-of-the-art facility. It began operating in mid-2005
and is the only one of its kind at a state university in this

EWeek 2004
   engineers Week Chair joe lillie of the   In Dubai, united arab emirates,               at a united nations briefing on
  Ieee (center) and honorary Chair alan     hanan Ishaq (left) of Ieee Women in           introducing more girls to engineering,
  Boeckmann (rear) of Fluor Corporation     engineering shows two young,                  panelists included (from right) Sylvia
  celebrate with the winning team in the    potential engineers the intricacies of        thomas of the Ieee, Cream Wright of the
  eWeek Future City Competition, from       some problem-solving games.                   united nations Children’s Fund, and
  riverview junior/Senior high School in                                                  paul hoeffel of the united nations.
  oakmont, pennsylvania, uSa.

Helping to Lead Global                                               Student teams from the u.S.–and for the first time, japan
Engineering Recognition                                            and egypt–participated in the Future Cities Competition, in
                                                                   which 12- and 13-year-olds used real-world engineering skills
how can the global engineering profession increase                 to present their vision of a city of the future. In addition,
public awareness of engineering and engineers’                     almost 8,500 area youngsters and their parents attended
contributions to society, as well as encourage diversity in        the ZooM into engineering Family Festival at Washington’s
the engineering workforce? the first international engineers        national Building Museum.
Week (eWeek) worked to do just that in                               helping to extend the eWeek message globally, Ieee
February 2004, with the Ieee serving as lead society for           Women in engineering led “Introduce a Girl to engineering
the precedent-setting celebration.                                 Day” activities in India, egypt, the united arab emirates,
  together with corporate sponsor Fluor Corporation,               Colombia and Canada, as well as in the u.S.
Ieee-uSa–the Ieee organizational unit that serves the                as a result of its efforts, Ieee-uSa received several
career and public policy interests of u.S. members–                communications industry awards, including first prize in the
coordinated, along with the eWeek Committee, an array of           special event and observance category of the International
outreach programs and activities. they included a united           public relations association Golden World awards.
nations briefing on how to interest more girls to technology
careers, advertisements in uSa today and the International
herald tribune, and record-breaking participation in the
annual Future City Competition and other eWeek events in
Washington, D.C.

(left) From left, Sony electronics executives jean Baronas,               IEEE-SA Corporate Program Builds Momentum,
ed Barrett and james Williamson celebrate their organization
                                                                          Global Program Reaches Milestone
receiving the Ieee Standards association Corporate award for
2004. Williamson is vice president of Sony electronics’                   the Ieee Standards association (Ieee-Sa) Corporate
technology Standards oªce.                                                program, which gives companies a direct voice in the
                                                                          Ieee standards development process, made considerable
 (right) 2004 Ieee-Sa leaders Donald heirman and james Carlo              progress in 2004. Six corporate standards projects were
(left and right) congratulate Chuck adams of IBM on receiving             approved, initiating work on standards covering electronic
the Ieee-Sa International award. adams was honored for his                design automation, rechargeable batteries for cell phones,
contributions, including serving as chair of the Ieee-Sa Corporate        and memory transport protocol to support both data
advisory Group.                                                           growth and data security requirements in the changing
                                                                          microprocessor environment. In addition, the Ieee
                                                                          livium™ standard for rechargeable batteries for mobile
                                                                          computers was published in less than 18 months from
                                                                          start to finish.
                                                                             the Corporate program gained extra momentum from
                                                                          the addition of six members of the Ieee-Sa Corporate
                                                                          advisory Group (CaG), which decides the strategy, mission
                                                                          and direction of the corporate program. CaG members
                                                                          now include IBM, hewlett-packard, Intel, Motorola, Sony,
                                                                          Siemens, panasonic, Mentor Graphics, nortel and lucent
                                                                          technologies. at year’s end, the Corporate program
                                                                          included 67 corporate members.
                                                                             the first IeC/Ieee International Standard, relating to
                                                                          instrument buses, was published under a joint agreement
                                                                          with the International electrotechnical Commission. this
                                                                          new standard demonstrates how the public can benefit
                                                                          from a balanced approach to international standardization
                                                                          that uses existing, market-relevant technical standards.
                                                                          In addition, the International telecommunication
                                                                          union (Itu) approved membership for the Ieee in its
                                                                          radiocommunications sector. this enables the Ieee to
                                                                          contribute directly to standards and other documents
                                                                          developed by the Itu sector, while broadening the Ieee’s
                                                                          presence as a provider of standards for international use.

Global IEEE Workshops
Promote University Accreditation
If university-level technical education is to produce
qualified graduates, then academic leaders everywhere
must pay more attention to accrediting their engineering
and science programs. the Ieee has consistently promoted
this message in accreditation workshops held around the
world since 1992.
   at a workshop in november 2004 in Bangkok, the
Ieee brought together more than 50 academic, corporate
and government leaders from Southeast asian and
pacific rim nations. attendees included representatives
from Chulalongkorn university in Bangkok, as well as
from tokyo Institute of technology in japan and Griªth               (top) a classical thai dancer performs at
university in australia.                                             an event during the workshop in Bangkok.
   the Bangkok workshop, which was the first of its kind
presented by the Ieee in this region, included presentations         (Bottom) Ieee Senior Member akinori
about accreditation processes currently used around the              nishihara, of the tokyo Institute of
world. In addition, speakers from different asia and pacific          technology, makes a point during the
countries discussed their extremely diverse geographic               international accreditation workshop, the
region, which has education and accreditation systems that           first of its kind presented by the Ieee in
vary greatly between nations.                                        this region.
   the goals of the international accreditation workshops
are to educate the Ieee’s regional groups on the academic            (Background) With its single, inverted-y
program criteria required for accreditation and to                   tower soaring 160 meters over Bangkok’s
encourage Ieee members to either get involved in their               Chao phraya river, the asymmetrical, cable-
country’s establishment of an accreditation process or help          stayed rama VIII Bridge is a dramatic part
to improve an existing process. It is estimated that half the        of the skyline. an observation tower at the
                                                                     top of the tower was designed to resemble
engineering schools in more than 75 countries with Ieee
                                                                     a closed lotus flower.
members lack any accreditation process at all.
   a workshop in latin america is planned for late 2005.
previous accreditation workshops have been held in
Bangalore, Buenos aires, San Salvador, Bratislava and
helsinki. they have greatly influenced current engineering
accreditation systems in peru, Mexico, Germany and austria.

                                                                           last year, these eight new Milestones joined some 50
                                                                         others worldwide:
                                                                             alternating Current electrification, Great Barrington,
                                                                             Massachusetts, uSa. In 1886, William Stanley
                                                                             demonstrated the first practical system for providing
                                                                             electrical illumination to oªces and stores on the
                                                                             city’s Main Street.
                                                                             DeCew Falls hydro-electric Development, hamilton,
                                                                             ontario, Canada. a pioneering project in 1898,
                                                                             DeCew Falls generated and transmitted electrical
                                                                             energy at higher voltages and greater distances
                                                                             than previously possible.
                                                                             electrical Breeder reactor 1, Idaho Falls, Idaho, uSa.
                                                                             In 1951, electricity was first generated from the heat
  (left) one of the foremost electrical engineers of his day, Moses          produced by a sustained nuclear reaction providing
  Farmer (1820-1893) helped to develop the Boston electric fire               steam to a turbine generator, ultimately launching the
  alarm system. Dedicated in 1852, it was the first municipal                 u.S. nuclear power industry.
  system to use call boxes on the street.                                    electric Fire alarm System, Boston. the first municipal
                                                                             electric fire alarm system using call boxes to indicate
  (right) the Fleming Valve is one of the most important historical
                                                                             the location of a fire began operating in 1852.
  contributions to electronics. In 1904 in london, john ambrose
                                                                             electronic Quartz Wristwatch, tokyo. after 10 years
  Fleming used it to rectify high-frequency oscillations and thus
                                                                             of research and development at a Seiko facility, the
  detect wireless signals.
                                                                             first commercially available timepiece of its kind was
                                                                             introduced in 1969.
IEEE Milestones Honor                                                        Fleming Valve, london. Developed in 1904 by john
Eight Historical Achievements                                                ambrose Fleming at university College, london,
                                                                             the device was a precursor to a new tube and to
Ieee members, eager to honor the significant technological
                                                                             applications that laid the foundation for electronics.
contributions that occurred in their respective geographic
                                                                             lempel-Ziv Data Compression algorithm, haifa. the
or technical areas, last year enabled a record eight
                                                                             data compression algorithm developed in 1977 by
new achievements to take their place among the Ieee
                                                                             abraham lempel and jacob Ziv at the Israel Institute of
Milestones in electrical engineering and Computing.
                                                                             technology enabled rapid, eªcient data transmission,
  For more than 20 years, the Ieee Milestones program
                                                                             which contributed to making the Internet a global
has recognized great achievements in electrical engineering
                                                                             communications medium.
history, all of them proposed by members, Ieee Sections,
                                                                             power System for rapid transit, Boston. Introduced
Societies and other organizational units, to the Ieee history
                                                                             in 1889, the first large-scale rapid transit system to
Committee. the Committee then evaluates the applications
                                                                             use electric traction overcame major safety, reliability
and forwards its recommendations to the Ieee executive
                                                                             and economic challenges, providing a model for other
Committee for approval.
                                                                             cities’ mass transit systems.

     2004 highlights

     aprIl                                               M ay                                          june

     Four Ieee societies host international              First IeC/Ieee International                  tadahiro Sekimoto receives
     conference on the hydrogen economy                  Standard for instrument buses                 Ieee Medal of honor
                                                         is published.
     Ieee publishes livium™ standard for                                                               Ieee enterprise online library is
     mobile computer rechargeable batteries              elena leah Glassman receives                  introduced for small businesses
                                                         Ieee presidents’ Scholarship
     DeCew Falls hydro-electric Development                                                            Ieee Virtual Museum launches new
     in Canada named Ieee Milestone                                                                    exhibit on microelectronics
                                                                     (left) elena leah Glassman, left, accepts the uS$10,000 Ieee presidents’
                                                                     Scholarship from 2004 Ieee president-elect W. Cleon anderson.

                                                                     (right) Bartosz nyczkowski was one of the team members from poznan
                                                                     university of technology to win first place in the 2004 Ieee Computer
                                                                     Society International Design Competition.

Keystroke Software for Disabled Wins                                a radio frequency transceiver. users can send and receive
IEEE Presidents’ Scholarship                                        digital signals through other local ICus and a command
                                                                    center. the lifetch system combines enhanced GpS
Developing a computer program that enables people with              technology with algorithms that accurately calculate a user’s
muscle diseases to use a computer helped elena leah                 position. Digital position messages and data from other
Glassman of Doylestown, pennsylvania, uSa, to win the               sensors are sent periodically, eliminating the need for the
uS$10,000 Ieee presidents’ Scholarship. Glassman, who               person, who may be injured, to call.
was 17 years old at the time, received the award at the 2004           a team from the politechnica university of Bucharest in
Intel International Science and engineering Fair (ISeF) in          romania received second place and uS$10,000 for devising
portland, oregon, uSa.                                              the eXpress! help system, an inexpensive mobile phone
   people unable to manipulate a computer keyboard or               add-on that can help the elderly, disabled and children get
mouse usually must use computer-assisted communications             help faster by pinpointing their location. third place and
programs such as voice recognition. But Glassman                    uS$6,000 went to students from Iowa State university,
understood the diªculty when paralysis or a degenerative            ames, uSa, for their Spatial Cue system, created to aid
disease such as amyotrophic lateral sclerosis–also called           large-scale search and rescue operations.
lou Gehrig’s Disease –affects the person’s ability to speak.           Microsoft Corporation provided most of the financial
her software senses the signals, or wavelets, generated             support for the competition, with additional funding from
in the brain when the user merely thinks about doing a              the Ieee Foundation and the aBB Group.
task. the software then processes the signals and issues a
typing command to a keyboard interface –with more than
                                                                    IEEE Virtual Museum Marks 2004
70 percent accuracy. Glassman is now studying electrical
engineering and computer science at the Massachusetts               With New Exhibit, Awards
Institute of technology in Cambridge.                               a new exhibit that examines the world of microelectronics
   the Ieee Foundation sponsors the annual presidents’              and how its innovations have profoundly affected the last
Scholarship, which is the largest presented in the Special          40 years of world history marked the third year of the Ieee
awards category at ISeF.                                            Virtual Museum. launched in 2001 to introduce youngsters
                                                                    ages 10 to 18 and their parents and teachers to the
Polish Students Win Computer Society                                technologies that engineers have created, the Museum relies
Competition with Wearable                                           on expert historians and technologists–many of them Ieee
                                                                    members–to develop the material for museum exhibits.
Communications Device                                                  “let’s Get Small: the Shrinking World of Microelectronics”
a team of students from poznan university of technology             traces the history of the subject from early radios, television
in poland won first place and uS$15,000 in the 2004                  sets and room-size computers through the development
Ieee Computer Society International Design Competition              of transistors, integrated chips and nanotechnology,
(CSIDC). the students’ entry, lifetch, is a lightweight,            and encourages visitors to learn about people, historical
portable unit designed to help hikers and other outdoors            events and technologies that offer historical context
enthusiasts obtain emergency help, particularly in areas            and significance.
beyond the reach of cellular communications.                           also last year, Scientific american honored the Ieee
   this was the fifth year of the CSIDC, which encourages            Virtual Museum as one of 50 recipients of its 2004 Science
undergraduate engineering students to take on real-world            and technology Web awards, describing it as “a beautifully
projects that are both useful and marketable. the 2004              designed Web site featuring a cornucopia of exhibits.”
theme, “Making the World a Safer place,” generated nearly           harvard Business School’s Working Knowledge praised the
250 entries from 144 universities in 28 countries.                  Virtual Museum, noting “We’re suckers for good museums
   the wearable Intelligent Communications unit (ICu)               about technology… this collection focusing on technology
includes a Global positioning System (GpS) receiver and             developments around electricity is fun and informative.”

                                                                                    (left) at the 2004 Ieee region 10 Student Congress
                                                                                    in hong Kong, attendees gather between formal
                                                                                    sessions to exchange ideas and information. More
                                                                                    than 90 student leaders attended from Southeast
                                                                                    asian and pacific rim nations.

                                                                                    (right) the lincoln Memorial in Washington, D.C. is a
                                                                                    fitting background for Ieee-uSa 2003-04 engineering
                                                                                    and Diplomacy Fellows. From left, they are: emily
                                                                                    Sopensky, richard lamb, Donald Silversmith, Sajjad
                                                                                    Durrani, and Congressional Fellow joseph Czika, jr.
                                                                                    not pictured: 2004 Congressional Fellows Martin
                                                                                    Sokoloski, Steve Watkins and peter Winokur.

Serving Members

IEEE Resumes Publishing Processes,                                  contact information. Individuals in embargoed countries
Electronic Member Communications                                    who may have let their memberships lapse can reinstate
                                                                    them using the Ieee Web site, and prospective members
After OFAC Negotiations                                             also can now join the Ieee online.
after more than two years of working with the u.S. treasury
Department’s oªce of Foreign assets Control (oFaC), the             IEEE-USA Supports Key Technology,
Ieee in 2004 resolved key issues concerning journals and
                                                                    Career Legislation
authors in the u.S.-embargoed countries including Cuba,
Iran and Sudan.                                                     Ieee-uSa, the Ieee unit that represents the public policy
   the Ieee hosted a February meeting in Washington,                and career interests of u.S. members as well as all u.S.
D.C. where oFaC oªcials discussed scholarly publishing              engineers, carried out a range of communications and
with more than 30 not-for-profit and commercial scholarly            career services programs in 2004.
publishers. In april, oFaC ruled that the Ieee’s peer review           Continuing to combat unemployment among u.S.
and copy editing processes come within the “information             members, Ieee-uSa encouraged key u.S. Congressional
and informational materials” exemption under the oFaC               committees to support hiring more u.S. citizens, and
regulations for Cuba, Iran and Sudan–thus resolving                 supported u.S. government funding of a study on how
Ieee publication issues and setting a model for the entire          offshore outsourcing affects unemployment. the unit’s
scholarly publishing community. pressure from the Ieee              annual salary survey, its most extensive yet, will help
and other groups resulted in oFaC issuing, in December,             to enable launching a new salary service in 2005 as a
general licenses that removed the final lingering concerns           compensation planning tool for human resources and
about co-authorship with individuals in oFaC-embargoed              engineering managers.
countries, and also about scholarly collaboration, a                   With the Consumer electronics association and
membership issue that transcends publication authorship             netCaucus, Ieee-uSa successfully opposed an excessively
and could be seen to inhibit a broad range of activities            broad bill to protect copyrighted works and technology with
normally associated with participating as a member of a             significant “non-infringing” uses.
professional society.                                                  Ieee-uSa ensured its members’ voices were heard
   In october, the Ieee re-established electronic                   in Washington, D.C. at more than 150 formal meetings
subscriptions for members in Cuba, Iran and Sudan under             with u.S. Congressional members and their staffs. In
the information and informational materials exemption.              addition, the unit sponsored or cosponsored four major
Individuals in these countries again have online access to          events in 2004 to highlight specific technology policy
their Ieee publications subscriptions and can electronically        issues, including: globalization and its effects on offshore
change subscriptions, renew memberships and change                  outsourcing; how technology can address the healthcare

needs of the aging population; the ethical, market and               agents for different skills and career goals, and a geographic
regulatory issues surrounding deregulated energy markets;            radius search that locates all jobs within a particular area.
and how blackouts occur.
                                                                     More Members Networking in
myIEEE Offers Members                                                Online Communities
Personalized Information                                             at year’s end, more than 12,000 Ieee members in 90
how can Ieee members get user-friendly, online                       separate online collaborative sites were interacting and
information tailored to their individual needs? and, where           exchanging knowledge without concern for time zones and
can professionals interested in Ieee membership obtain a             work schedules. Introduced in 2003 as a new collaborative
clear overview of the benefits of belonging? In both cases,           tool, the number of online communities grew by 15 percent
the myIeee membership portal is designed to do just that.            last year. they cover a wide range of technical topics
   launched in january 2005, the portal includes both                including power and energy, embedded systems, and
a public site and a members-only area where members                  ethernet passive optical networks.
can view both their active memberships and a list of                    In addition to the many communities devoted to
relevant upcoming conferences. after the member has                  technical topics, others provide a means for members to
completed a technical interest profile, a “Service advisor”           discuss employment and professional development. the
tool recommends Ieee memberships and publications                    employment and Career Strategies Community, which
personalized to the profile. also myIeee enables members              is hosted by Ieee-uSa (see page 10), has over 1,800
to easily renew, add services and change their profile from           participants and is the largest and most active online
one location. It also permits browsing the current headlines         community. In addition, at year-end 2004, about a dozen
from Ieee Spectrum, the Institute and StandardsWire.                 sites were helping members of various Ieee regions and
   the publicly accessible area of the site provides news and        societies to network and discuss common concerns, and
information about specific aspects of different membership            four Spanish-language communities were serving
benefits and includes links to other important Ieee areas,            members in latin america.
including Ieee societies, Standards, the history Center
and ShopIeee.                                                        294 Million E-mail Messages –
                                                                     All Scanned for Viruses
IEEE Job Site Makes Impact
                                                                     a record 294 million e-mail messages passed through the
On Online Job Market                                                 Ieee e-mail system in 2004–nearly 70 percent more than the
By emphasizing only opportunities for high-quality                   previous year. Moreover, the e-mail alias service stopped more
electrical engineering jobs, in 2004 the Ieee job Site               than 9.5 million viruses from being delivered to Ieee members,
managed to capture significant attention in the highly                more than five times the infected messages stopped in 2003.
competitive online job market.                                       With about 100,000 members using this service, it is blocking
  at the end of its third full operating year, 32,000 Ieee           approximately 10 attacks a month per user.
members had registered profiles on the site so they can                   the Ieee personal e-mail alias is a free benefit of Ieee
automatically search through the hundreds of positions               membership. the service provides an e-mail address,
available each month from over 1,000 employers posting               and scans all incoming mail for viruses before forwarding
them. anyone who visits the Ieee job Site can view job               messages to each member’s actual internet account.
postings, but only Ieee members can submit and maintain                  a special filtering feature added in 2004 lets members
profiles and set up search criteria that will alert them of           manage the unsolicited commercial e-mail (uCe) or spam
new positions matching their specifications.                          sent to their individual Ieee aliases. after the user selects
  the fully automated employer posting process now                   his or her desired level of e-mail scanning, the feature
enables new positions to appear almost immediately at any            then tags or blocks any messages considered to be uCe,
time of day and the system automatically notifies registered          depending on the user’s selections. tagged mail can be
members whose profiles match the position if they have set            easily identified, permitting the recipient to delete or read
up a job search agent. other improved benefits for members            it. at year’s end, more than 15,000 members were using
using the site include improved navigation, an easier process        this service, which in 2004 alone identified 30.4 million
for uploading resumes and profiles, multiple job-search               messages as potential spam.



 2004 highlights

 j u ly                                 auGuSt                                  SepteMBer

 poznan university of technology team   ISI journal Citation report again       Ieee Fellow teck Seng low receives
 wins Ieee Computer Society Student     ranks Ieee journals highly, with Ieee   Singapore’s national Science and
 Design Competition                     publishing 18 of the top 20 journals    technology Medal
                                        in their fields
 Fleming Valve dedicated in london as                                           Ieee publishes black-box standard
 Ieee Milestone                                                                 for motor vehicles
                                                                                new spam filtering feature introduced
                                                                                for members with Ieee personal
                                                                                e-mail alias
                                                                                             (left) the IBM poWer microprocessor is
                                                                                             at the core of everything from game consoles
                                                                                             to powerful supercomputers. Courtesy of
                                                                                             International Business Machines Corporation.
                                                                                             unauthorized use not permitted.

                                                                                              (Center) physicians can examine three-
                                                                                             dimensional images in real time for more
                                                                                             extensive, accurate and precise diagnoses
                                                                                             in abdominal, vascular and obstetrics
                                                                                             imaging. Courtesy of Siemens.

                                                                                             (right) During 2004 engineers Week,
                                                                                             a student works on his entry for a
                                                                                             robotics competition.

Products and Services

Two Studies Reaªrm Value of IEEE Journals                             IEEE Xplore® Enhancements
In 2004, two separate studies continued to confirm the                 Contribute to Record Usage
value of Ieee technical journals to engineers and scientists.         ongoing improvements that make new content available
Because patent citation has become a strong indicator                 quickly and conveniently have enabled Ieee Xplore®,
of journal usefulness, the Ieee again commissioned an                 the online delivery platform for all Ieee intellectual
analysis of how often patents issued by the u.S. patent               property, to reach new levels of usability and content.
oªce cite scientific literature –especially Ieee-published             By year’s end, users had downloaded a record of more
content. ChI research, Inc., which conducted the                      than 52 million full-text pDF documents, which is 18
study for the Ieee, reported that in 2003, Ieee journal               percent more than in 2003. In early 2004, the one-
titles accounted for 38 percent of all citations from the             millionth document in Ieee Xplore® went online, and
patent holdings of the top 25 patenting companies                     by 31 December the database comprised approximately
and universities. this was more than three times the                  1.1 million documents.
second most highly cited publisher.                                      three separate enhancements to the Ieee Xplore®
   the patent citation metric has joined another                      platform provided users with improved research tools.
established tool for measuring the value of Ieee                      In april 2004, Version 1.7 introduced a pilot of full-text
journals –the Institute of Scientific Information’s (ISI)
annual journal Citation report, which ranks the impact
of journals according to how frequently their content is
quoted or cited by other scientific publications in their
initial year of publication. according to the ISI’s 2003 study
released in late 2004, the Ieee publishes the top 18 of
the leading 20 journals in electrical engineering and the
top five in telecommunications. For the sixth consecutive
year, proceedings of the Ieee was the only electrical and
electronics engineering journal in the top ten. proceedings’
“cited half-life,” a gauge of a journal’s value over time, was
rated as more than 10 years.

Shanghai’s new trans-rapid railway offers a fast way to connect the financial district of the metropolis with its new pudong International
airport 31.5 kilometers away. Introduced in mid-2004, the trains are expected to carry 10 million passengers a year in 2005 and about
26 million passengers by 2020. Courtesy of Siemens.

searches of all Ieee Xplore® documents, and in june,                       companies–automotive, power, chip manufacturing and
Version 1.8 launched Ieee enterprise, an alternative                       pharmaceuticals, among others.
product for small businesses. (See below.) In october,                       the Ieee Member Digital library was introduced in 2003
Version 1.9 introduced a new Crossref search function,                     as a members-only benefit and provides access to
which hunts through 27 other publishers’ sites in                          25 articles a month for the flat fee of uS$35 a month.
partnership with the Google search engine without                             the full array of Ieee online content is available
requiring the user to leave Ieee Xplore®.                                  through Iel, which is used by large companies, as well as
  also in 2004, development proceeded for the March                        governments and universities around the world. among
2005 release of Ieee Xplore® 2.0. the newly designed                       the new university consortia organized by the Ieee during
and architected document delivery system provides a                        2004 are Spain, portugal and argentina. Students at the 99
foundation for future customization and personalization.                   universities in these three consortia have joined students at
other new features include multiple new search functions,                  more than 500 other universities in europe and hundreds
an improved single-article purchase process, and journal                   more in the pacific rim and India in their ability to retrieve
home pages with full information on a title’s scope                        the more than 1.1 million documents in Iel.
and editorial contacts, sponsoring Ieee societies and
manuscript submissions.                                                    New Journals Emphasize
                                                                           Emerging Technologies
From Businesses of All Sizes to Individuals:
                                                                           automation, bioinformatics, secure computing, and
Online Information Delivery for Everyone                                   geoscience and remote sensing are addressed in four
With Ieee enterprise, the online collection of Ieee journals               quarterly, peer-reviewed publications introduced in 2004:
and conference proceedings for small- and medium-sized                     IEEE Transactions on Automation Science and Engineering,
businesses, the Ieee now offers a range of cost-eªcient                    IEEE/ACM Transactions on Computational Biology and
solutions to meet almost any organization’s technical                      Bioinformatics, IEEE Transactions on Dependable and Secure
information needs.                                                         Computing, and IEEE Geoscience and Remote Sensing Letters.
   Introduced in 2004, Ieee enterprise was designed to                       IEEE Transactions on Automation Science and Engineering
fill the gap between the Ieee/Iee electronic library (Iel)                  covers new research on scientific methods and technologies
for large institutions and the Ieee Member Digital library                 that improve automation in all areas, such as pharmaceutical
for individual members. Ieee enterprise is a subscription                  testing and intelligent systems for health delivery, as well
service that permits downloads of fewer articles, at                       as manufacturing. Its sister publication is IEEE Transactions
lower prices, than larger collections. Ieee enterprise is                  on Robotics; both are published by the Ieee robotics and
available at three different price levels depending on the                 automation Society.
number of documents required. Since its launch, Ieee                         IEEE/ACM Transactions on Computational Biology and
enterprise has been well received by a wide variety of                     Bioinformatics publishes new research related to methods,

programs and databases that are central to bioinformatics
and computational biology. It is published by the Ieee
Computer Society, the association for Computing
Machinery, Ieee Computational Intelligence Society and
Ieee engineering in Medicine and Biology Society. the
co-sponsor is the Ieee Control Systems Society.                Software accounts for a large share of the value
   IEEE Transactions on Dependable and Secure Computing        creation for new products –whether for cars, power
addresses research on systems and networks that are            plants or cell phones. Courtesy of Siemens.
dependable and secure to the desired degree without
compromising performance. It is published by the Ieee
Computer Society.
   IEEE Transactions on Geoscience and Remote
Sensing covers science and engineering concepts and
techniques for sensing the earth, oceans, atmosphere
and space. the publisher is the Ieee Geoscience and
remote Sensing Society.
   the Ieee’s first online-only publication also was
introduced. IEEE Distributed Systems Online, which is
peer reviewed, is published monthly by the Ieee
Computer Society.
   also last year, two new periodicals were developed for
publication beginning in 2005: IEEE Journal of Display
Technology and IEEE Transactions on Industrial Informatics.
   Four new tools designed to make authors’ work easier
were introduced; they include an electronic copyright form
and a graphics checker to validate electronic illustrations.
Most of the 123 Ieee journals and magazines are now
produced using Manuscript Central™, a Web-based system
tailored to Ieee needs that makes it easier for authors to
submit articles for consideration and for their colleagues
to participate in peer review of these articles.
                                                                     IEEE Spectrum marked its 40th anniversary year with a complete
                                                                     graphic design makeover. the award-winning publication also
                                                                     added to its accolades with design and writing awards.

IEEE Spectrum Marks 40th Year                                        Society (eDS), celebrated its 50th anniversary year
With New Design, Awards                                              in San Francisco. More than 2,000 professionals
                                                                     interested in microelectronics, molecular electronics,
While turning 40 can create a midlife crisis for some, IEEE          optoelectronics and microelectromechanical system
Spectrum celebrated the start of its 40th year of publication        technology attended. Speakers included richard e.
in 2004 with a complete design makeover and nine new                 Smalley, who discussed the need for a clean and
awards. the graphic redesign was introduced as part of               sustainable major new energy source within the next
ongoing efforts to make Spectrum easy to navigate and                few decades. Smalley received the 1996 nobel prize
more interesting to read. the IEEE Spectrum Web site also            in chemistry for his discovery of carbon buckyballs.
received a design makeover.                                          to help celebrate the 50th anniversary of IeDM,
   one aspect of Spectrum that has not changed is its long           each attendee received a DVD containing the IeDM
tradition of important industry recognition for design               technical Digest Collection, which included conference
and writing. among the u.S.-based awards presented                   digests from 1955 through 2004.
to the Ieee’s flagship publication during 2004 were two
gold awards for writing –one from the Society of national            the Ieee’s largest meeting, the optical Fiber
association publications and the other from the trade                Communication Conference (oFC), met in
association and Business publications International, plus            los angeles with more than 15,000 people attending.
three apex awards of excellence for magazine redesign,               Cosponsors were the Ieee Communications Society,
e-mail newsletters and marketing materials.                          Ieee lasers and electro-optics Society and the optical
                                                                     Society of america. Shortly after this meeting, plans
Thousands Attend a Record                                            were announced to combine oFC with the national
335 IEEE Conferences                                                 Fiber optic engineers Conference (nFoeC) to create
                                                                     the most comprehensive conference and trade show
thousands of Ieee members and other technical
                                                                     exposition of its kind. nFoeC was formerly owned
professionals representing the breadth of Ieee fields of
                                                                     and sponsored by telcordia technologies, Inc. the
interest attended a record 335 conferences last year around
                                                                     first event took place in March 2005 in anaheim,
the world where they heard presentations by foremost
                                                                     California, uSa.
experts, exchanged ideas and networked.
   these are just a few of the 2004 conferences, all
                                                                     the 2004 Ieee Consumer Communications and
sponsored entirely or in part by the Ieee:
                                                                     networking Conference (CCnC) was co-located with
                                                                     the Consumer electronics association’s International
    the 2004 International electron Devices Meeting
                                                                     Consumer electronics Show in las Vegas, uSa.
    (IeDM), sponsored by the Ieee electron Devices
                                                                     Sponsored by the Ieee Communications Society,

                                                                              (left) Ieee president-elect W. Cleon anderson (left)
                                                                              presents Ieee life Fellow tingye li with the Ieee
                                                                              photonics award at the 2004 Ieee optical Fiber
                                                                              Communications Conference. retired from at&t
                                                                              labs, li was honored for his contributions to
                                                                              optical fiber communications and laser science.

                                                                               (right) William hederman (left) of the u.S. Federal
                                                                              energy regulatory Commission chats with lester
                                                                              lave of Carnegie Mellon university during the
                                                                              “ethics and Changing energy Markets” conference
                                                                              at the university of notre Dame, notre Dame,
                                                                              Indiana, uSa.

CCnC enabled over 250 researchers, developers and
practitioners to attend both events. jed johnson of
Motorola told the CCnC audience that the “connected
home” is becoming a reality as consumers seek to
leverage the always-on capability of broadband Internet
services with devices both in the home and away.

over 100 people attended a conference in Washington,
D.C. to discuss “the hydrogen economy.” International
experts gave their views on hydrogen production, its
possible delivery infrastructure, and system interface
issues, as well as how hydrogen fuel might affect the
future delivery of electric energy. Four Ieee societies
organized the meeting: the Ieee power engineering
Society, the Ieee power electronics Society, the Ieee
Industry applications Society and the Ieee Society on
Social Implications of technology.

More than 250 people attended the first Ieee                    hydrogen is one of the sustainable energies that engineers and
International Conference on Sensor and ad hoc                  other technologists are developing as a future alternative to fossil
Communications networks (SeCon) in                             fuels. In the engines of BMW Cleanenergy hydrogen vehicles, the
Santa Clara, California, uSa. Sponsored by the                 hydrogen generated from energy and water combusts with
Ieee Communications Society with technical                     oxygen and returns to water. Courtesy of BMW Group.
sponsorship by its technical Committee on Computer
Communications, the meeting included talks and
panel discussions on topics such as energy mobility,
communications architectures and research funding.
Keynote speaker john Strand, of oak ridge national
laboratory, oak ridge, tennessee, uSa, discussed
lessons and challenges in building a national
communications network.



 2004 highlights

 oCtoBer                                   noVeMBer                               DeCeMBer

 Ieee Xplore® introduces Crossref search   Michael r. lightner elected 2005       Ieee Xplore® database reaches a
 function                                  Ieee president-elect                   record 1.1 million documents
 Ieee Foundation and hewlett-packard       Ieee Fellow Vijay Bhargava receives    2004 International electron Devices
 grants fund computer center for           royal Society of Canada’s              Meeting in San Francisco marks its
 university of Ibadan, nigeria             thomas W. eadie Medal                  50th anniversary year
 Boston electric Fire alarm System and     International accreditation workshop   Daniel j. Senese retires after
 alternating Current electrification are    in Bangkok draws educators from        more than nine years as Ieee
 dedicated as Ieee Milestones              asia and australia                     executive Director
                                                                  In a highly visible public building like the Williamj. Clinton Center in little
                                                                 rock, arkansas, uSa, security matters are paramount. the fire alarm,
                                                                 evacuation and security monitoring systems for the presidential library of
                                                                 Bill Clinton, the 42nd president of the united States, reflect state-of-the-art
                                                                 technology. Courtesy of Siemens.

Membership Development

2004 IEEE Membership Recovers,                                       the way with a 6.7 percent increase, followed by region
With Notable Non-U.S. Growth                                         8 (europe, the Middle east and africa) with a 6.3 percent
Despite two ongoing impediments to growth –a                            at year’s end, members from outside the u.S. constituted
sluggish global economy and continuing engineering                   39.5 percent of the total organization, up from 37.8 percent
unemployment –Ieee membership rebounded somewhat                     the previous year.
in 2004 to 365,483. this was a 1.2 percent increase over                Ieee society memberships declined again in 2004,
2003, which was the first year since 1996 that membership             marking the third consecutive year of decreases. of the
had not grown.                                                       38 Ieee societies operating last year, only four recorded
   at year’s end, region 10, which comprises asia and the            growth. they are the Ieee Geoscience and remote
pacific rim, took the lead as the largest of the 10 Ieee              Sensing Society (10.5 percent); Ieee Social Implications
regions with 63,548 members. Within this total, region 10            of technology Society (1.2 percent); Ieee robotics and
also had the largest population of student members,                  automation Society (.8 percent); and Ieee ultrasonics,
with 18,254.                                                         Ferroelectrics and Frequency Control (.8 percent).
   last year’s membership increase was encouraging                      the percentage of female Ieee members again increased
because student membership, which had dropped                        slightly in 2004. although still underrepresented in the
significantly in 2003 after a substantial dues hike, accounted        overall membership population, women now comprise
for much of the 2004 overall membership growth. Student              8.8 percent of the total Ieee member roster.
membership grew in all but two of the Ieee’s 10 geographic              three new Ieee Sections were formed last year, all in
regions in 2004, for an overall net increase of 7 percent.           region 8. the Sections, which enable local communications
Growth of both higher grade Ieee memberships (non-                   and activities for local members, are in lebanon, Morocco
students, for example) and student memberships was                   and Qatar.
especially notable outside north america. region 10 led

 (left) at the year-end 2004 Ieee Standards
 association (Ieee-Sa) meeting, Ieee Fellow
 and 2003 Ieee-Sa president Ben johnson
 (left) congratulates Daniel Senese on his
 retirement after more than nine years as
 Ieee executive Director.

  (Center) new ultrasound imaging
 technology allows physicians to examine
 three-dimensional pictures in real time for
 better diagnoses. Courtesy of Siemens.

  (right) IBM poWer5 is a highly advanced
 microprocessor that is the “brain” of
 powerful new computer systems. Courtesy of
 International Business Machines Corporation.
 unauthorized use not permitted.


Daniel Senese Retires                                               accounts grew to more than 489,000–from some 423,000
                                                                    the previous year. Web accounts enable members and
on 31 December, Daniel j. Senese retired after more than
                                                                    other subscribers to access Ieee publications online and to
nine years as Ieee executive Director. as chief staff oªcer,
                                                                    update their membership or customer profile in real time.
he was responsible for the operations of the Ieee and its
                                                                       at year’s end, about one-third of Ieee members were
employees. throughout his tenure, Senese emphasized
                                                                    using the Ieee’s e-mail alias service, which includes both
the importance of “doing business electronically,” and he
                                                                    virus-scanning of all messages passing through Ieee
oversaw the creation of an array of electronic services and
                                                                    servers and a spam-filtering feature. additional details can
products. these include online tools to enable members
                                                                    be found in “294 Million e-mail Messages–all Scanned for
to manage their memberships, and a spectrum of other
                                                                    Viruses” on page 11.
electronic offerings such as an expanding line of electronic
                                                                       Continuing system improvements enabled a record 69
libraries to meet the needs of smaller companies and
                                                                    percent of all Ieee members to renew their memberships
individuals, as well as large organizations. he also
                                                                    online during the 2004 renewal period. this represents
directed the development of the Ieee Data Center, which
                                                                    193,191 members who renewed between September 2004,
now supports a myriad of electronic services for the Ieee’s
                                                                    when the renewal period began, and month-end March
global membership.
                                                                    2005. In addition, online applications were used by almost
                                                                    27,293 prospective members–some 56 percent of the
New Records for IEEE Systems, Usage                                 48,311 individuals who applied for new membership or
last year, tens of thousands of Ieee members and other              reinstatement through month-end March 2005.
users seeking to satisfy their information needs helped to             also at year’s end, the Ieee Web site included 100,000
set several new records for the organization’s electronic           pages and the number of individual visits averaged more
systems. For example, total e-mail traªc increased 70               than 425,000 a month.
percent –from 208 million messages in 2003 to 294 million
in 2004. at the same time, the number of Ieee Web

Awards, Fellows and Honors

                                             tadahiro Sekimoto receives Ieee’s highest honor
                                             2004 Ieee president arthur W. Winston (left) presented the Ieee Medal of honor to tadahiro
                                             Sekimoto of the Institute for International Socio-economic Studies, tokyo, at the annual honors
                                             Ceremony. W. Cleon anderson, 2004 Ieee president-elect, is at the right. also an Ieee life Fellow,
                                             Dr. Sekimoto was honored for his contributions to digital satellite communications, promotion of
                                             information technology research and development, and his technical and corporate leadership in
                                             computers and communications.

                                               In addition to the Medal of honor, president Winston also presented 11 other Medals,
                                             two Service awards, and one leadership and two Corporate Innovation recognitions at the
                                             honors Ceremony in Kansas City, Missouri, uSa.

IEEE Medal of Honor                          IEEE Richard W. Hamming Medal                        IEEE Simon Ramo Medal
tadahiro Sekimoto                            jack Keil Wolf                                       Boris e. Chertok (deceased)
Institute for International                  university of California                             russian academy of Sciences
Socio-economic Studies                       San Diego, California, uSa                           Moscow
tokyo                                        Sponsor: at&t labs
Sponsor: Ieee Foundation                                                                          nikolai n. Sheremetevsky (deceased)
                                             IEEE Jack S. Kilby Signal Processing Medal           all-russia Institute for electromechanics
IEEE Edison Medal                            thomas W. parks                                      Moscow
Federico Capasso                             Cornell university                                   Sponsor: trW Foundation
harvard university                           Ithaca, new york, uSa
Cambridge, Massachusetts, uSa                                                                     IEEE John von Neumann Medal
Sponsors: Ieee Foundation and Ieee edison    james h. McClellan                                   Barbara h. liskov
Medal Fund                                   Georgia Institute of technology                      Massachusetts Institute of technology
                                             atlanta, Georgia, uSa                                Cambridge, Massachusetts, uSa
IEEE James H. Mulligan Jr. Education Medal   Sponsor: texas Instruments, Incorporated             Sponsor: IBM
paul r. Gray
university of California                     IEEE Jun-ichi Nishizawa Medal                        IEEE Richard M. Emberson Award
Berkeley, California, uSa                    Frederick h. Dill                                    Kenneth r. laker
Sponsors: the Mathworks, Inc., national      hitachi Global Storage technologies                  university of pennsylvania
Instruments Foundation, pearson prentice     San jose, California, uSa                            philadelphia, pennsylvania, uSa
hall, and Xilinx, Inc.                       Sponsors: Semiconductor research                     Sponsor: Ieee technical activities Board
                                             Foundation and the Federation of electric
IEEE Medal for Engineering Excellence        power Companies, japan                               IEEE Haraden Pratt Award
richard l. Doughty (retired)                                                                      jerry r. yeargan
e. I. dupont de nemours & Co., Inc.          IEEE Robert N. Noyce Medal                           university of arkansas
Wilmington, Delaware, uSa                    Craig r. Barrett                                     Fayetteville, arkansas, uSa
                                             Intel Corporation                                    Sponsor: Ieee Foundation
h. landis Floyd, II                          Chandler, arizona, uSa
e. I. dupont de nemours & Co., Inc.,         Sponsor: Intel Foundation                            IEEE Corporate Innovation Recognition
Wilmington, Delaware, uSa                                                                         hewlett-packard Company
                                             IEEE Dennis J. Picard Medal for Radar
thomas e. neal                               Technologies and Applications                        QualCoMM, Incorporated
neal associates, ltd.                        David atlas                                          Sponsor: Ieee
Guilford, Connecticut, uSa                   naSa Goddard Space Flight Center
Sponsor: Siemens aG                          Greenbelt, Maryland, uSa                             IEEE Ernst Weber Engineering
                                             Sponsor: raytheon Company                            Leadership Recognition
IEEE Founders Medal                                                                               pasquale pistorio
Mildred S. Dresselhaus                                                                            StMicroelectronics, n.V.
Massachusetts Institute of technology                                                             Geneva
Cambridge, Massachusetts, uSa                                                                     Sponsor: Ieee
Sponsor: Ieee Foundation

2004 Class of IEEE Fellows
In 2004, 260 Ieee Senior Members were elected to Ieee Fellow. this distinction is the highest membership grade any Ieee
member can achieve and is awarded each year to no more than 0.1 percent of the voting membership as of 31 December of
the preceding year. the grade of Ieee Fellow recognizes a member’s professional distinction for accomplishments in any of the
Ieee fields of interest that have contributed significantly to advancing or applying engineering, science and technology.

  Ieee life Fellow leo Beranek (left) received the u.S. national           Ieee Fellow Vijay K. Bhargava (left) received the royal Society of
  Medal of Science from president George W. Bush. Beranek was              Canada’s 2004 thomas W. eadie Medal for his contributions to
  honored for his contributions to the field of acoustical research.        wireless communications.

  Ieee Fellow teck-Seng low (left) was presented with                      the nae presented its 2004 Bernard M. Gordon prize to Ieee
  Singapore’s national Science and technology Medal, the                   life Fellow Frank S. Barnes (left) for pioneering the International
  nation’s highest such award, from Singapore’s Minister of                telecommunications program to produce leaders who bridge
  education, tharman Shamugaratnam.                                        engineering, social sciences and public policy. With him are 2004
                                                                           Gordon prize Committee Chair alice agogino and nae Chair
                                                                           George M.C. Fisher.

  (From left) Ieee Members Charles p. thacker and alan C. Kay,             Sir Stephen Gomersall (left), the united Kingdom’s ambassador
  and Ieee Computer Society aªliate member Butler W. lampson               to japan, presented Ieee life Fellow tsuneo nakahara with the
  shared the national academy of engineering (nae) Charles Stark           medal signifying his title of honorary Commander of the Most
  Draper prize, along with robert W. taylor, for conceiving and            excellent order of the British empire. the honor cited nakahara
  developing the first practical networked personal computers.              for creating high-tech links between the u.K. and japan.
  Congratulating them are 2004 Draper prize Committee Chair
  aaron Cohen and nae president William a. Wulf.

2004 Board of Directors and Management Council

2004 IEEE Board of Directors
Front Row                                                             Third Row
james M. tien, Vice president, educational activities; john           William o. Kennedy, Director & Delegate, region 7; john
W. Steadman, president, Ieee-uSa; ralph W. Wyndrum, jr.,              W. estey, Director & Delegate, Division VII; james D. Isaak,
Vice president, technical activities; Mohamed e. el-hawary,           Director & Delegate, Division VIII; Gene F. hoffnagle,
Secretary; W. Cleon anderson, president-elect; arthur W.              Director & Delegate, Division V; harold l. Flescher, Director
Winston, president; Michael S. adler, past president; Marc            & Delegate, Division IV; William B. harrison, Director &
t. apter, Vice president, regional activities; Michael r.             Delegate, region 3; john a. reagan, Director & Delegate,
lightner, Vice president, publication Services & products;            Division IX; john W. Meredith, Director & Delegate, region 5;
pedro a. ray, treasurer; james t. Carlo, president, Ieee              Francisco r. Martinez, Director & Delegate, region 9
Standards association                                                 Missing from photo: richard l. Doyle, Director & Delegate,
                                                                      Division VI
Second Row
roger K. Sullivan, Director & Delegate, region 1; Moshe
Kam, Director & Delegate, region 2; jung u. Seo, Director
                                                                      IEEE Management Council
& Delegate, region 10; theodore W. hissey, jr., Director              Daniel j. Senese, Executive Director
emeritus; roberto Boisson de Marca, Director & Delegate,              Chris j. Brantley, Professional Activities
Division III; evelyn h. hirt, Director & Delegate, region 6;          Donald r. Curtis, Human Resources
lewis M. terman, Director & Delegate, Division I;                     anthony Durniak, Publications Activities
phillip t. Krein, Director & Delegate, Division II; eric herz,        judith l. Gorman, Standards Activities
Director emeritus; enrique h. ruspini, Director & Delegate,           Cecelia jankowski, Regional Activities
Division X; anthony C. Davies, Director & Delegate,                   Matthew S. loeb, Corporate Strategy and Communications
region 8; Burton j. loupee, Director & Delegate, region 4;            richard D. Schwartz, Business Administration
Daniel j. Senese, executive Director                                  Barbara Coburn Stoler, Educational Activities
                                                                      Mary C. Ward-Callan, Technical Activities
                                                                      Sally a. Waselik, Information Technology

           Message From the Treasurer

I am pleased to present the audited financial reports of the Ieee.                  offset by a reduction of uS$6.0 million net investment
these reports indicate that the overall financial health of the                    income, total net investment income was uS$13.2 million in
organization continues to be strong.                                              2004 versus uS$19.2 million in 2003.
   the Institute’s Statement of Financial position showed total
assets of uS$284.1 million on 31 December 2004. this is an                      the operational surplus in 2004 was uS$8.8 million. the
11.5% increase from 2003, while the Institute’s total liabilities            surplus was further enhanced by the net investment gains
increased by 5.2% over the same time. overall, the Institute’s net           of uS$13.2 million for 2004. the total net surplus including
assets (“reserves”) grew to uS$138.6 million from the restated               operations and investment gains in 2004 was uS$22.0 million
2003 year-end balance of uS$116.6 million.                                      the Ieee received an unqualified or clean opinion from ernst
   In 2004, the Institute had revenues of uS$277.0 million,                  & young, l.l.p. in the report of Independent auditors. the
an increase of uS$26.8 million from 2003 as shown by the                     independent auditors meet with the Ieee audit Committee to
Statement of activities. the increase in revenue was primarily               discuss the scope and results of their audit, their review on the
due to the following:                                                        adequacy of internal accounting controls, and the quality of
       Dues and assessments revenue increased uS$1.4 million,                financial reporting prior to issuing their opinion.
      despite a drop in u.S. membership, which was offset by an                 the Ieee is tax exempt under Section 501(c)(3) of the Internal
      increase in non-u.S. members.                                          revenue Code. the Ieee Foundation is a separately incorporated
       periodical subscriptions and other publication activities             aªliate of the Ieee; accordingly, its audited financial statements
      revenue increased uS$15.0 million primarily due to sales of            are not included in the accompanying documents.
      electronic products, including Iel whose gross revenue grew               I submit these reports with the certainty that the Ieee
      uS$12.4 million.                                                       continues to be a financially sound organization.
       Conference revenue increased uS$16.3 million due to an
      enhanced conference accrual process.
       other revenue increased uS$0.08 million.                              pedro a. ray, 2004 Ieee treasurer

Report of Independent Auditors
the Board of Directors                                                       audit also includes examining, on a test basis, evidence supporting
the Institute of electrical and                                              the amounts and disclosures in the financial statements, assessing
electronics engineers, Inc.                                                  the accounting principles used and significant estimates made
                                                                             by management, and evaluating the overall financial statement
We have audited the accompanying statements of financial                      presentation. We believe that our audits provide a reasonable basis
position of the Institute of electrical and electronics engineers,           for our opinion.
Inc. (the “Institute”) as of December 31, 2004 and 2003, and                    In our opinion, the financial statements referred to above
the related statements of activities and cash flows for the years            present fairly, in all material respects, the financial position of the
then ended. these financial statements are the responsibility of              Institute of electrical and electronics engineers, Inc. at December
the Institute’s management. our responsibility is to express an              31, 2004 and 2003, and the changes in its net assets and its cash
opinion on these financial statements based on our audits.                    flows for the years then ended in conformity with accounting
   We conducted our audits in accordance with auditing standards             principles generally accepted in the united States.
generally accepted in the united States. those standards require                as discussed in note 3 to the financial statements, the Institute
that we plan and perform the audit to obtain reasonable assurance            restated its 2003 financial statements to reflect assets, liabilities
about whether the financial statements are free of material                   and net assets of sections whose accounts were not previously
misstatement. We were not engaged to perform an audit of the                 included in the Institute’s financial statements.
Institute’s internal control over financial reporting. our audits
included consideration of internal control over financial reporting
as a basis for designing audit procedures that are appropriate
in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Institute’s internal control over
financial reporting. accordingly, we express no such opinion. an              May 20, 2005, except for note 3, as to which the date is august 31, 2005

Statement of Financial Position
December 31, 2004 and 2003                                                                                                                          2004                                           2003
Assets                                                                                                                                                                              (As	restated,	Note	3)
Current	assets:	                                                                                                         	
	 Cash	and	cash	equivalents	                                                                                             $	                  6,040,500	                        $	             6,076,200
	 Accounts	receivable,	less	allowance	for	doubtful	accounts	of	$1,385,300	in	2004	and	$1,583,700	in	2003	                	                  44,237,800	                        	             41,134,400
	 Inventories,	prepaid	expenses	and	other	assets	                                                                        	                   14,148,400	                       	              14,107,400
	 Investments	                                                                                                           	                  181,715,800	                       	            156,637,300
Total	current	assets	                                                                                                    	                 246,142,500	                        	            217,955,300
Prepaid	pension	and	other	assets	                                                                                        	                  6,824,200	                         	             4,508,400
Long-term	investments	                                                                                                   	                     191,400	                        	                191,400
Land,	buildings	and	equipment,	net	of	accumulated	depreciation	                                                          	                 30,898,900	                         	             32,215,900
Total	assets	 	                                                                                                          $	                284,057,000	                        $	           254,871,000

Liabilities and net assets		                                                                                             	
Current	liabilities:	                                                                                                    	
	 Accounts	payable	and	accrued	expenses	                                                                                 $	                    21,738,400	                     $	             19,572,100
	 Deposits	by	IEEE	Foundation	and	others	                                                                                	                       8,310,100	                    	              7,984,500
	 Trading	liabilities	                                                                                                   	                        120,900	                     	                 396,100
	 Current	portion	of	debt	obligations	                                                                                   	                        810,000	                     	                 775,000
	 Current	portion	of	capital	lease	obligations	                                                                          	                      1,006,500	                     	               1,065,100
	 Deferred	income:	                                                                                                      	
	 	 Dues	and	assessments	                                                                                                	                  37,030,700	                        	             37,615,000
	 	 Subscriptions	and	other	                                                                                             	                  65,097,200	                        	            58,656,400
Total	current	liabilities	                                                                                               	                  134,113,800	                       	           126,064,200
Long-term	debt:	                                                                                                         	
	 Debt	obligations,	less	current	portion	                                                                                	                      9,813,800	                     	             10,759,100
	 Obligations	under	capital	leases,	less	current	portion	                                                                	                      1,541,300	                     	              1,445,500
Total	liabilities		
	 	                                                                                                                      	                 145,468,900	                        	            138,268,800
Net	assets:		
	 Unrestricted	                                                                                                          	                 137,656,700	                        	            115,256,900
	 Temporarily	restricted	                                                                                                	                     740,000	                        	               1,153,900
	 Permanently	restricted	                                                                                                	                      191,400	                       	                 191,400
Total	net	assets	                                                                                                        	                 138,588,100	                        	            116,602,200
Total	liabilities	and	net	assets	                                                                                        $	                284,057,000	                        $	           254,871,000

Statement of Activities
                                                                                                                       Temporarily                         Permanently
Year Ended December 31, 2004                                                                     Unrestricted            Restricted                           Restricted                          Total
	 Dues	and	assessments	                                                              $	           45,062,600	     	                   	    	                               	   $	           45,062,600
	 Periodical	subscriptions,	other	publication	activities	
	 	 and	educational	products	and	services	                                           	            128,523,400	    	                  	     	                            	      	            128,523,400
	 Conventions,	conferences	and	other	technical	activities	                           	            80,609,200	     	                  	     	                            	      	            80,609,200
	 Investment	income,	net	                                                            	              13,173,700	   $	           26,800	     	                            	      	             13,200,500
	 Other	income	                                                                      	               9,597,100	   	                  	     	                            	      	               9,597,100
	 Net	assets	released	from	restrictions	                                             	                440,700	    	          (440,700)	    	                            	      	                       –
Total	revenue	 	
	 	 	 	                                                                              	            277,406,700	    	           (413,900)	   	                           	       	           276,992,800
	 Program	services:	                                                                 	                       	    	
	 	 Publishing	                                                                      	            113,293,800	    	                   	    	                               	   	            113,293,800
	 	 Educational	activities	                                                          	              2,401,800	    	                   	    	                               	   	              2,401,800
	 	 Conventions,	conferences	and	other	technical	activities	                         	             73,947,900	    	                   	    	                               	   	             73,947,900
	 	 Services	for	and	support	of	sections	and	branches	                               	              9,186,000	    	                   	    	                               	   	              9,186,000
	 	 Membership	records	and	services	                                                 	            48,584,700	     	                   	    	                               	   	            48,584,700
Total	program	services	
	 	                                                                                  	            247,414,200	    	                  –	    	                               	   	            247,414,200		
Supporting	services:	                                                                	                       	    	
	 General	and	administrative	                                                        	              7,592,700	    	                   	    	                               	   	              7,592,700
Total	expenses	                                                                      	           255,006,900	     	                  –	    	                               	   	           255,006,900
Change	in	net	assets	                                                                	            22,399,800	     	           (413,900)	   	                           	       	             21,985,900
Net	assets,	beginning	of	year	                                                       	            115,256,900	    	          1,153,900	    $	                   191,400	       	            116,602,200
Net	assets,	end	of	year	                                                             $	           137,656,700	    $	          740,000	     $	                   191,400	       $	           138,588,100
See accompanying notes.
Statement of Activities
                                                                                                                        Temporarily                          Permanently
Year Ended December 31, 2003 (As restated, Note 3)                                             Unrestricted               Restricted                           Restricted                         Total
	 Dues	and	assessments	                                                                $			     43,687,300	     	                      	     	                           	   $			            43,687,300
	 Periodical	subscriptions,	other	publication	activities	
	 and	educational	products	and	services	                                               	        112,608,100	    $				       882,800	         	                           	   	              113,490,900
Conventions,	conferences	and	other	technical	activities	                               	        63,997,900	     	            309,100	        	                           	   	               64,307,000
Investment	income,	net	                                                                	          19,131,500	   	              41,100	       	                           	   	                19,172,600
Other	income	 	                                                                        	          9,487,900	    	             32,500	        	                           	   	                9,520,400
Net	assets	released	from	restrictions	                                                 	           1,218,900	   	         (1,218,900)	       	                           	   	                         –
Total	revenue	 	                                                                       	        250,131,600	    	              46,600	       	                           	   	              250,178,200
	 Program	services:	                                                                   	                   	    	
	 	 Publishing	                                                                        	        103,621,000	    	                      	     	                           	   	              103,621,000
	 	 Educational	activities	                                                            	          2,333,900	    	                      	     	                           	   	                2,333,900
	 	 Conventions,	conferences	and	other	technical	activities	                           	         53,843,600	    	                      	     	                           	   	               53,843,600
	 Services	for	and	support	of	sections	and	branches	                                   	          8,603,600	    	                      	     	                           	   	                8,603,600
	 Membership	records	and	services	                                                     	        50,404,000	     	                      	     	                           	   	              50,404,000
Total	program	services	                                                                	        218,806,100	    	                    –	      	                           	   	              218,806,100
	 Supporting	services:	                                                                	                   	    	
	 	 General	and	administrative	                                                        	          5,781,100	    	                      	     	                           	   	                5,781,100
Total	expenses	                                                                        	       224,587,200	     	                    –	      	                           	   	             224,587,200

Change	in	net	assets	                                                                  	        25,544,400	     	              46,600	       	                           	   	              25,591,000
Net	assets,	beginning	of	year:	                                                        	                  	     	
	 As	previously	reported	                                                              	        74,932,900	     	             1,107,300	     $	                   191,400	   	               76,231,600
Adjustment	-	net	assets	of	previously	excluded	sections	                               	        14,779,600	     	                      	     	                           	   	               14,779,600
As	adjusted		 	                                                                        	         89,712,500	    	             1,107,300	     	                    191,400	   	               91,011,200
Net	assets,	end	of	year	                                                               $	       115,256,900	    $	            1,153,900	     $	                   191,400	   $	             116,602,200

Statements of Cash Flows
Year Ended December 31, 2004 and 2003                                                                                                                 2004                                         2003
Operating Activities                                                                                                                                                                (As	restated,	Note	3)
Change	in	net	assets	                                                                                                     $	                 21,985,900	                     $	              25,591,000
Adjustments	to	reconcile	change	in	net	assets	to	net	cash	provided	by	operating	activities:	                              	
	 Depreciation	and	amortization	expense	                                                                                  	                     6,119,100	                   	               6,066,900
	 Loss	on	disposal	of	fixed	assets	                                                                                        	                             –	                   	                   111,300
	 Net	realized	and	unrealized	gains	from	investments	                                                                     	                  (10,212,200)	                   	              (18,538,900)
	 Change	in	fair	value	of	interest	rate	swaps	                                                                            	                     (135,300)	                   	                 (457,900)
	 Change	in	assets	and	liabilities:	                                                                                      	
	 	 Increase	in	accounts	receivable	                                                                                      	                   (3,103,400)	                   	                (2,611,400)
	 	 Increase	in	inventories,	prepaid	expenses	and	other	assets	                                                           	                  (2,356,800)	                    	               (4,428,700)
	 	 (Increase)	decrease	in	accounts	payable	and	accrued	expenses	                                                         	                   (1,355,200)	                   	                   265,100
	 	 Proceeds	from	sale	of	investments	held	for	IEEE	Foundation	and	others	                                                	                        14,400	                   	               15,878,800
	 	 Increase	(decrease)	in	deposits	                                                                                      	                       311,200	                   	              (14,738,800)
	 	 Increase	in	deferred	income	                                                                                          	                   5,856,400	                     	               4,099,200
Net	cash	provided	by	operating	activities	                                                                                	                       17,124,100	                	               11,236,600
Investing activities
Proceeds	from	sale	of	investments	                                                                                        	                 325,708,000	                     	              299,097,500
Purchase	of	land,	buildings	and	equipment	                                                                                	                   (3,878,100)	                   	               (3,065,900)
Purchases	of	investments	                                                                                                 	                (340,849,500)	                    	             (301,435,400)
Net	cash	used	in	investing	activities	                                                                                    	                 (19,019,600)	                    	               (5,403,800)
Financing activities
Change	in	cash	overdraft	                                                                                                 	                       3,521,500	                 	              (2,209,900)
Payment	of	debt	obligations	                                                                                              	                       (775,000)	                 	               (2,441,100)
Payment	of	capital	lease	obligations	                                                                                     	                       (886,700)	                 	               (1,293,300)
Net	cash	provided	by	(used	in)	financing	activities	                                                                       	                      1,859,800	                  	               (5,944,300)

Net	decrease	in	cash	and	cash	equivalents	                                                                                	                        (35,700)	                 	                		(111,500)
Cash	and	cash	equivalents	at	beginning	of	year	                                                                           	                      6,076,200	                  	                6,187,700
Cash	and	cash	equivalents	at	end	of	year	                                                                                 $	                     6,040,500	                  $	              	6,076,200

Supplemental data
Interest	paid	 	                                                                                                         $	                      1,005,400	                  $	                1,154,100
Non-cash	items:	                                                                                                         	
	 Acquisition	of	equipment	through	capital	lease	obligation	                                                             $	                        923,900	                  $	               1,662,000
See accompanying notes.                                                                        26
Notes to Financial Statements

1. Organization and Nature of Operations                                          the Institute’s share of revenue and expense from conferences is
                                                                                  recognized principally when financial reports are submitted by societies
the objectives of the Institute of electrical and electronics engineers,          and councils.
Inc. (the “Institute” or “Ieee”) are (a) scientific and educational,                  revenue from contributions is recorded at its fair value in the period
directed toward the advancement of the theory and practice of electrical          received including unconditional promises to give and is classified
engineering, electronics engineering, computer engineering, computer              based upon the existence or absence of donor-imposed restrictions.
sciences, and the allied branches of engineering and related arts and                Contributions received by the Institute are primarily private and
sciences and (b) professional, directed toward the advancement of the             governmental grants containing donor-imposed restrictions as to their
standing of the members of the profession it serves.                              use. these restrictions are usually fulfilled within a two-year period by
   Implementation of the Institute’s objectives is primarily performed            satisfying the respective restrictions.
through regions, sections, societies and councils and their financial
results are incorporated in the accompanying Institute’s financial                 Cash and Cash Equivalents
statements. these units were formed to serve the specialized technical            Cash and cash equivalents include highly liquid short-term investments
interests of members and to coordinate these with the local activities            purchased with maturities of three months or less from the date of
of the sections and the broader activities of the Institute. the societies        acquisition.
and councils promote the technical interests of their members through
symposia, conferences and various publications.                                   Investments
                                                                                  Investments, except special funds, are carried at fair value which is
2. Summary of Significant Accounting Policies                                      generally determined on the basis of quoted market prices (see note 4).
                                                                                  Special funds are managed by an international investment adviser and
Financial Statements                                                              management group of companies (the “Investment Manager”) and
resources are reported for accounting purposes into separate classes              invested primarily in non-u.S. equity and debt securities. these are
of net assets based on the existence or absence of donor-imposed                  carried at the unit price computed by the Investment Manager based
restrictions. In the accompanying financial statements, net assets that            on the respective funds’ net assets.
have similar characteristics have been combined into similar categories              realized gains and losses on sales of investments are determined
as follows:                                                                       on an average cost basis.
   permanently restricted –net assets subject to donor-imposed
stipulations that they be maintained permanently by the Institute. Such           Inventories
assets primarily include the Institute’s permanent endowment funds.               Inventories consist of periodicals published by the Institute and are
the principal of these endowments cannot be expended. the income                  stated at the lower of average cost or net realizable value.
earned can only be used as designated by the donor, and is then
recorded as temporarily restricted.                                               Land, Buildings and Equipment
   temporarily restricted –net assets whose use by the Institute is               Depreciation is provided on a straight-line basis over the estimated
subject to donor-imposed stipulations that can be fulfilled by actions             useful life of the asset. Buildings, furniture and equipment are
of the Institute pursuant to those stipulations or that expire by the             depreciated over periods ranging from three to thirty-five years. assets
passage of time. these temporarily restricted net assets are designated           under capital leases are depreciated over the shorter of the lease terms
principally for awards, medals and specific projects.                              or the useful lives of the assets. Building improvements are amortized
   unrestricted–net assets that are not subject to donor-imposed                  over twenty years.
stipulations. unrestricted net assets may be designated for specific                  upon retirement or other disposition of fixed assets, the cost and
purposes by action of the Board of Directors or may otherwise be                  related accumulated depreciation are removed from the accounts and
limited by contractual agreements with outside parties. unrestricted              the resulting gains or losses, if any, are reflected in operations.
net assets can be utilized to carry out any of the purposes of the
Institute.                                                                        Accounts Payable and Accrued Expenses
   expenses are generally reported as decreases in unrestricted net               Included in accounts payable and accrued expenses are cash
assets. expiration of donor-imposed stipulations that simultaneously              overdrafts. at December 31, 2004 and 2003 these cash overdrafts
increase unrestricted net assets and decrease temporarily restricted net          amounted to $4,241,700 and $720,200, respectively.
assets are reported as reclassifications. temporarily restricted revenues
received and expended during the same fiscal year are recorded as                  Use of Estimates
unrestricted revenues and expenses in the statement of activities.                the preparation of financial statements in conformity with
   the financial statements of the Institute should be read in                     accounting principles generally accepted in the united States requires
conjunction with the financial statements of the Ieee Foundation,                  management to make estimates and assumptions that affect the
a related organization (see note 14).                                             reported amounts of assets and liabilities and disclosure of contingent
                                                                                  assets and liabilities at the date of the financial statements and the
Revenue Recognition                                                               reported amounts of revenues and expenses during the reporting
revenue from membership dues and yearly periodical subscriptions                  period. actual results could differ from those estimates.
is recognized ratably over the period to which it pertains. amounts
received in advance are included in deferred income. revenue and                  Reclassifications
expense from conferences are recorded on the accrual basis in the                 Certain reclassifications have been made to prior year balances in order
year the conferences are held, except for smaller conferences where               to conform to the current year presentation.

3. Adjustment to Opening Net Assets
In prior years, the accounts of sections were not included in the financial statements of the Institute. as a result of the initiatives undertaken in fiscal 2004 to
strengthen the financial oversight over geographic units, the Institute determined that the accounts of the sections should have been included in the Institute’s
financial statements.
   In fiscal 2004, the Institute’s financial statements for the year ended December 31, 2003, including net assets as of December 31, 2002, were restated to
include the financial position and changes in the net assets and cash flows of these sections.
   the net effect of these adjustments, which do not impact temporarily or permanently restricted net assets, was to increase the Institute’s net assets as follows:

                                                                                                            As Previously Reported                               Adjustment                     As Restated
Statement	of	financial	position	at	December	31,	2003:	                                                       	                          	
	 Total	assets	                                                                                             $	              247,540,400	        $			               7,330,600	      $	            254,871,000
	 Total	liabilities	                                                                                        	               144,944,100	        	                 (6,675,300)	     	             138,268,800
Net	assets	 	 	                                                                                             $	              102,596,300	        $	               14,005,900	       $	            116,602,200

Statement	of	activities	for	the	year	ended	December	31,	2003:	                                              	                           	
	 Total	revenue	                                                                                            $	               246,536,100	       $		                3,642,100	      $	            250,178,200
	 Total	expenses	                                                                                           	                220,171,400	       			               	4,415,800	      	             224,587,200
Change	in	net	assets	                                                                                       	               		26,364,700	       	                   (773,700)	     	              25,591,000
Net	assets,	beginning	of	year	                                                                              	                 76,231,600	       	                 14,779,600	      	               91,011,200
Net	assets,	end	of	year	                                                                                    $	              102,596,300	        $	               14,005,900	       $	            116,602,200

Statement	of	cash	flows	for	the	year	ended	December	31,	2003:	                                              	                           	
	 Net	cash	provided	by	(used	in):		                                                                         	                           	
	 	 Operating	activities	                                                                                   $		              	11,054,900	       $					               	181,700	     $			           11,236,600
	 	 Investing	activities	                                                                                   	                 (5,467,000)	      	                     63,200	      	             (5,403,800)
	 	 Financing	activities	                                                                                   	                (5,944,300)	       	                           –	     	             (5,944,300)
Net	(decrease)	increase	in	cash	and	cash	equivalents	                                                       	                     (356,400)	    	                   244,900	       	                (111,500)
Cash	and	cash	equivalents	at	beginning	of	year	                                                             	                     1,278,100	    	                 4,909,600	       	               6,187,700
Cash	and	cash	equivalents	at	end	of	year	                                                                   $								              921,700	     $			               5,154,500	      $						        6,076,200

4. Investments
Investments and trading liabilities at December 31, 2004 and 2003 consist of the following:

                                                                                            2004 Cost                    2004 Fair Value                          2003 Cost                  2003 Fair Value
Investments	 	                                                                                                                	                              	           (As	restated,	Note	3)
Short-term	investments:	                                                       	                       	    	                           	
Due	from	brokers	and	accrued	interest	                                         $								       		39,400	    $									           	39,400	       $									           	11,200	      $									        	11,200
Money	market	and	mutual	funds	                                                 	            38,100,800	     	                38,100,800	        	                54,540,500	       	             54,624,400
	 	 	 	 	                                                                      	            38,140,200	     	                38,140,200	        	                 54,551,700	      	             54,635,600
Equity	investments:	                                                           	                       	    	                           	
Equity	securities	                                                             	            39,353,100	     	                52,206,700	        	                 41,207,300	      	             50,638,900
Money	market	and	mutual	funds	                                                 	             1,760,500	     	                 1,760,500	        	                  1,459,800	      	              1,459,800
Due	from	brokers	and	accrued	interest	and	fees	                                	                174,600	    	                    174,600	       	                    467,500	      	                467,500
	 	 	 	 	                                                                      	            41,288,200	     	                 54,141,800	       	                 43,134,600	      	             52,566,200
Fixed	income	investments:	                                                     	                       	    	                          	
Money	market	and	mutual	funds	                                                 	             67,118,300	    	                68,258,600	        	                 25,239,300	      	              25,974,100
Special	funds:		                                                               	                      	     	
Capital	Guardian	International	(Non-U.S.)	Equity	Fund	for	Tax-Exempt	Trusts	   	            13,137,400	     	                 16,575,000	       	                 14,619,400	      	              17,467,700
Emerging	Markets	Growth	Fund	                                                  	            2,964,300	      	                  4,791,600	       	                 4,660,400	       	               6,185,100
	 	 	 	 	                                                                      	             16,101,700	    	                21,366,600	        	                 19,279,800	      	             23,652,800

Total	investments	                                                             	           162,648,400	     	                181,907,200	       	                142,205,400	      	             156,828,700
Trading liabilities 	                                                          	                       	    	                              	
Equity	investments:	                                                           	                       	    	                              	
	 Due	to	brokers	and	accrued	fees	                                             	               (111,900)	   	                      (111,900)	   	                  (388,400)	      	               (388,400)
Fixed	income	investments:	                                                     	                       	    	                              	
Due	to	brokers	and	accrued	fees	                                               	                (9,000)	    	                       (9,000)	    	                     (7,700)	     	                  (7,700)
Total	trading	liabilities		                                                    	              (120,900)	    	                     (120,900)	    	                   (396,100)	     	                (396,100)
Net investments 	                                                              $	          162,527,500	     $	               181,786,300	       $	               141,809,300	      $	            156,432,600

5. Investment Income
net investment income (loss) for the years ended December 31, 2004 and 2003 consisted of the following:
                                                                                                                                                           2004                    2003		(As	restated,	Note	3)
Interest	and	dividends		                                                                                                            $		               	2,988,300	                  $					                 	633,700
Realized	gains	(losses),	net	                                                                                                       	                  5,576,700	                  	                    (2,793,100)
Change	in	net	unrealized	gains	                                                                                                     	                  4,635,500	                  	                   21,332,000
	 	 	 	 	                                                                                                                           $	            13,200,500	                      $	                  19,172,600

6. Land, Buildings and Equipment
Fixed assets, carried at cost, and the related accumulated depreciation at December 31, 2004 and 2003 consist of the following:
                                                                                                           2004                         2004                             2003                        2003
                                                                                                            Cost     Accumulated Depreciation                             Cost    Accumulated Depreciation
	                                                                                                                                                                                           (As	restated,	Note	3)
Buildings	 	 	                                                                         $	            18,625,300	       $			          8,440,300	   $	                18,625,300	    $		                   	7,913,100
Furniture	and	equipment	                                                               	             36,641,400	       	            23,645,800	   	                 41,823,000	    	                   28,241,900
Building	improvements	                                                                 	              8,569,300	       	             2,824,600	   	                  8,441,500	    	                    2,492,500
	 	 	 	 	                                                                              	             63,836,000	       	            34,910,700	   	                 68,889,800	    	                   38,647,500
Land	 	 	 	                                                                            	              1,973,600	       	                     –	   	                  1,973,600	    	                            –
Total	 	 	 	                                                                           $	            65,809,600	       $	           34,910,700	   $	                70,863,400	    $	                  38,647,500

Furniture and equipment included assets under capital leases of $6,354,700 and $7,018,100 as of December 31, 2004 and 2003, respectively.

7. Long-term Debt
Debt Obligations
Debt obligations at December 31, 2004 and 2003 consist of loans from proceeds of bonds issued by the new jersey economic Development authority (“njeDa”),
as follows:
                                                                                                                                                           2004                                              2003
NJEDA	2001	Series	A	Bonds,	average	coupon	of	4.55%,	annual	principal	and	sinking	fund	payments	through	April	1,	2014	(the	
	 “Series	A	Bonds”);	collateralized	by	irrevocable	direct-pay	letter	of	credit	issued	by	Wachovia	Bank,	NA	(“Wachovia	Bank”).	      $		               	6,910,000	                  $					              6,995,000
NJEDA	2001	Series	B	Bonds,	average	coupon	of	4.34%,	annual	principal	and	sinking	fund	payments	through	April	1,	2014	
	 (the	“Series	B	Bonds”);	collateralized	by	irrevocable	direct-pay	letter	of	credit	issued	by	Wachovia	Bank.	                       	                  3,125,000	                  	                   3,365,000
NJEDA	1994	Bonds,	average	coupon	of	6.30%,	annual	principal	and	sinking	fund	payments	through	April	1,	2004	(the	
	 “1994	Bonds”);	collateralized	by	irrevocable	direct-pay	letter	of	credit	issued	by	Wachovia	Bank,	fully	paid	on	April	1,	2004.	   	                           	                  	                     450,000
	 	 	 	 	                                                                                                                           	             10,035,000	                      	                   10,810,000
Liability	under	swap	agreements:	                                                                                                   	
	 Series	A	Bonds	                                                                                                                   	                   423,200	                   	                      518,700
	 Series	B	Bonds	                                                                                                                   	                   165,600	                   	                     205,400
	 	 	 	 	                                                                                                                           $	                10,623,800	                  $	                   11,534,100

    the Series a Bonds consist of variable rate bonds issued in the                                                  renovation of a 15,000 square-foot warehouse facility into a new computer
aggregate amount of $7,065,000 on May 10, 2001 for the purpose of                                                    center and related equipment purchases and installations. In conjunction
advance refunding a portion of the 1994 Bonds to take advantage of lower                                             with the issuance of the Series B Bonds, the Institute entered into a
interest rates. the advance refunding resulted in the defeasance and legal                                           swap agreement dated august 22, 2001 with Wachovia Bank whereby the
extinguishment of the callable portion of the 1994 Bonds due from 2005 to                                            Institute’s interest rate obligation under the Series B Bonds is fixed at 4.34%
2014 totaling $6,390,000. In conjunction with the issuance of the Series a                                           per annum (the “Series B Swap”). the underlying notional amount of the
Bonds, the Institute entered into a swap agreement on april 24, 2001                                                 Series B Swap amortizes through april 1, 2014 and matches the outstanding
with Wachovia Bank whereby the Institute’s interest rate obligation under                                            balance of the Series B Bonds, which amounted to $3,125,000 and
the Series a Bonds is fixed at 4.55% per annum (the “Series a Swap”).                                                 $3,365,000 as of December 31, 2004 and 2003, respectively. the estimated
the underlying notional amount of the Series a Swap amortizes through                                                fair value of the Series B Swap reflects a liability of approximately $165,600
april 1, 2014 and matches the outstanding balance of the Series a Bonds,                                             and $205,400 at December 31, 2004 and 2003, respectively. the Series B
which amounted to $6,910,000 and $6,995,000 as of December 31, 2004                                                  Bonds are due on april 1, 2014, but are subject to mandatory annual sinking
and 2003, respectively. the estimated fair value of the Series a Swap reflects                                       fund redemption on april 1 of each year in amounts ranging from $250,000 in
a liability of approximately $423,200 and $518,700 at December 31, 2004                                              2005 to $385,000 in 2014.
and 2003, respectively. the Series a Bonds are due on april 1, 2014, but are                                            an irrevocable standby letter of Credit and reimbursement agreement
subject to mandatory annual sinking fund redemption on april 1 of each year                                          with Wachovia Bank, dated May 1, 2001 and amended on September 1, 2001,
in amounts ranging from $560,000 in 2005 to $840,000 in 2014.                                                        collateralizes both Series a Bonds and Series B Bonds. the letter of credit
    the Series B Bonds consist of variable rate bonds issued in the aggregate                                        amounted to $10,186,300 at December 31, 2004.
amount of $3,810,000 on September 28, 2001 to permanently finance the

   Future principal repayments required under the njeDa Bond agreements
                                                                                                  2005	                                                                        $	                 1,204,600
as of December 31, 2004 are as follows:
                                                                                                  2006	                                                                        	                    840,500
                                                                                                  2007	                                                                        	                    667,000
2005	                                                     $	            810,000                   2008	                                                                        	                    334,400
2006	                                                     	             845,000                   2009	                                                                        	                     76,600
2007	                                                     	             880,000
                                                                                                  Total	                                                                       	                   3,123,100
2008	                                                     	             930,000
                                                                                                  Less	amount	representing	interest	imputed	at	an	average	rate	of	5.2%	        	                    575,300
2009	                                                     	             970,000
Thereafter	                                               	           5,600,000                   Present	value	of	minimum	lease	payments	                                     $	                 2,547,800
	 	                                                       $	      10,035,000
                                                                                                  8. Commitments and Contingencies
   Interest expense on the debt obligations amounted to approximately
$569,600 for 2004 and $636,500 for 2003. the interest expense associated                          at December 31, 2004, minimum rental commitments under noncancelable
with the interest swap exposures resulted in net savings of $135,300 and                          operating leases for oªce space and computer equipment are as follows:
$207,900 in 2004 and 2003, respectively.
   the Institute maintains a $25,000,000 credit facility consisting of                            2005	                                                                        $	                 1,562,200
$13,750,000 with Wachovia Bank and $11,250,000 with the Bank of new york                          2006	                                                                        	                   1,321,500
under a revolving credit agreement dated February 28, 2002, as amended.
                                                                                                  2007	                                                                        	                   1,087,100
the Institute is charged commitment fees, which amounted to $31,800
                                                                                                  2008	                                                                        	                    966,200
in 2004 and $47,500 in 2003, on the unused portion of the credit facility.
                                                                                                  2009	                                                                        	                    638,200
Interest expense resulting from the utilization of the credit facility during
2003 amounted to approximately $1,500. the credit facility was not utilized in                    Thereafter	                                                                  	                   2,021,100
2004. the Institute had no outstanding borrowings under the credit facility                       	 	                                                                          $	                 7,596,300
at December 31, 2004 or 2003. the revolving credit agreement, as amended,
expires on october 31, 2005.
   the Institute is required to maintain certain financial ratios under the                            the leases for the oªce space are subject to escalation. total rent expense
amended and restated letter of Credit and reimbursement agreement with                            for noncancelable operating leases amounted to $2,920,700 and $3,340,900
Wachovia Bank and the revolving credit agreement with Wachovia Bank and                           in 2004 and 2003, respectively.
the Bank of new york. the Institute is in compliance with these ratios as of                          at December 31, 2004, the Institute had an irrevocable standby letter of
December 31, 2004.                                                                                credit in the amount of $583,000 with Wachovia Bank, which serves as a
                                                                                                  security deposit as required by the terms of its lease agreement with park
Obligations Under Capital Leases                                                                  avenue Building Company, llC.
the approximate annual rental payments for obligations under capital leases                           the Institute is currently involved in certain litigation and claims arising in
follow:                                                                                           the ordinary course of business. the Institute’s management believes that
                                                                                                  the amount of any liability arising out of these actions that may be sustained,
                                                                                                  if any, beyond existing insurance liability coverages would not have a material
                                                                                                  impact on the accompanying financial statements.

9. Pension and Other Postretirement Benefits
the Institute sponsors two qualified and one non-qualified pension plan and other postretirement benefit plans for its employees. the following tables provide a
reconciliation of the changes in the plans’ benefit obligations and fair value of assets over the two-year period ended December 31, 2004, and a statement of the
funded status as of December 31 of both years:
                                                                  2004 Pension Benefits                   2003 Pension Benefits            2004 Other Benefits            2003 Other Benefits
Reconciliation	of	benefit	obligation	                             	                          	       	                         	
Obligation	at	January	1	                                         $	               58,781,500	       $	             47,501,800	     $		             2,519,700	        $		           2,258,600
Service	cost	 	                                                  	                 3,918,300	       	               3,302,500	     	                  83,600	        	                85,000
Interest	cost	 	                                                 	                 3,382,500	       	                3,125,200	    	                 147,000	        	               144,400
Plan	amendments		                                                	                         –	       	                 508,000	     	                       –	        	                     –
Actuarial	loss	(gain)		                                          	                   368,500	       	               7,099,200	     	                  28,600	        	               162,600
Benefit	payments	                                                 	                (3,245,800)	      	              (2,755,200)	    	                 (93,700)	       	              (130,800)
Obligation	at	December	31		                                      $	               63,205,000	       $	             58,781,500	     $		            2,685,200	         $		           2,519,800
Reconciliation	of	fair	value	of	plan	assets		                    	                           	      	                        	
Fair	value	of	plan	assets	at	January	1	                          $	               49,809,900	       $	             38,879,100	     	                         	
Actual	return	on	plan	assets	                                    	                  5,902,500	      	               7,939,500	     	                         	
Employer	contributions	                                          	                  6,025,700	      	               5,746,500	     $						            	93,700	       $			          		130,800
Benefit	payments	                                                 	                 (3,245,800)	     	              (2,755,200)	    	                  (93,700)	      	              (130,800)
Fair	value	of	plan	assets	at	December	31	                        $	               58,492,300	       $	             49,809,900	     $	           																–	   $	       																–
Funded	status		                                                  	                           	      	
Funded	status	at	December	31	                                    $		               (4,712,700)	     $		             (8,971,600)	   $	            (2,685,200)	        $	        (2,519,800)
Unrecognized	transition	(asset)	obligation	                      	                          –	      	                        –	    	                457,600	         	           503,400
Unrecognized	prior	service	cost		                                	                  1,153,500	      	                1,310,300	    	                255,600	         	           288,800
Unrecognized	loss	(gain)	                                        	                10,454,400	       	              12,240,000	     	                584,500	         	            575,200
Net	amount	recognized	-	prepaid	(accrued)	benefit	cost	           $			              6,895,200	       $			            4,578,700	     $	             (1,387,500)	       $	            (1,152,400)

   the accumulated benefit obligation for all defined benefit pension plans was $49,691,400 at December 31, 2004 and $46,684,400 at December 31, 2003.
   Information for benefit plans with an accumulated benefit obligation in excess of plan assets as of December 31 follows:
                                                                                2004 Pension Benefits               2003 Pension Benefits              2004 Other Benefits          2003 Other Benefits
Projected	benefit	obligation	                                                $	                113,400	         $	                117,400	     $										             –	     $														         –
Accumulated	benefit	obligation	                                              $	                113,400	         $	                117,400	     $												          	–	     $													         	–
Fair	value	of	plan	assets	                                                  $		                     –	         $	                      –	     $													          –	     $														         –

   the following table provides the components of net periodic benefit cost for the plans for 2004 and 2003:
                                                                                2004 Pension Benefits               2003 Pension Benefits              2004 Other Benefits          2003 Other Benefits
Service	cost	 	                                                             $		             3,918,300	         $		            3,302,500	      $			               83,600	     $				              85,000
Interest	cost	 	                                                            	              3,382,500	          	               3,125,200	     	                 147,000	     	                 144,300
Expected	return	on	plan	assets	                                             	              (4,155,400)	        	              (3,237,700)	    	                       –	     	                       –
Amortization	of	transition	(asset)	obligation	                              	                       –	         	                       –	     	                  45,800	     	                  45,800
Amortization	of	prior	service	cost	                                         	                 156,800	         	                 162,500	     	                  33,200	     	                  33,200	
Amortization	of	net	loss	                                                   	                 407,100	         	                506,900	      	                  19,300	     	                  19,800	
Net	periodic	benefit	cost	                                                   $		            3,709,300	          $		            3,859,400	      $	                328,900	     $	                328,100	

  the prior service costs are amortized on a straight-line basis over the average remaining service period of active participants. Gains and losses in excess of
10% of the greater of the benefit obligation and the market-related value of assets are amortized over the average remaining service period of active participants.
  the Institute has multiple non-contributory non-pension postretirement benefit plans.
  the assumptions used in the measurement of the Institute’s benefit obligation are shown in the following table:
                                                                                2004 Pension Benefits               2003 Pension Benefits              2004 Other Benefits          2003 Other Benefits
Weighted-average	assumptions	as	of	December	31:	                            	                       	          	                      	
	 Discount	rate	                                                            	                  5.75%	          	                 6.00%	       	                   5.75%	     	                  6.00%
	 Rate	of	compensation	increase	                                            	                  3.50%	          	                 3.50%	       	                     N/A	     	                     N/A

   the assumptions used in the measurement of the net periodic benefit cost are shown in the following table:
                                                                                2004 Pension Benefits               2003 Pension Benefits              2004 Other Benefits          2003 Other Benefits
Weighted-average	assumptions	as	of	December	31:			                          	                      	           	                       	
	 Discount	rate	                                                            	                 6.00%	           	                  6.50%	      	                  6.00%	      	                  6.50%
	 Expected	return		on	plan	assets	                                          	                 8.50%	           	                  8.50%	      	                     N/A	     	                     N/A
	 Rate	of	compensation	increase	                                            	                 3.50%	           	                  3.50%	      	                     N/A	     	                     N/A

   the healthcare plan benefits are a flat dollar reimbursement to the retirees toward healthcare premiums. no increase in the reimbursement amount is assumed.

Plan Assets
Ieee determines its assumptions for the expected rate of return on plan assets for its retirement plans based on ranges of anticipated rates of return for each
asset class. a weighted range of nominal rates is then determined based on target allocations for each asset class. Ieee considers the expected rate of return to
be a longer-term assessment of return expectations and does not anticipate changing this assumption annually unless there are significant changes in economic
conditions. the expected rate of return for each plan is based upon its expected asset allocation. Market performance over a number of earlier years is evaluated
covering a wide range of economic conditions to determine whether there are sound reasons for projecting forward any past trends.
   Ieee’s pension and postretirement plan asset allocation for the u.S. plans at the end of 2004 and 2003, and the target allocation for 2004 by asset category
based on asset fair values are as follows:
                                                           2004 Target                            Pension Assets at December 31                                 Postretirement Assets at December 31
                                                         Asset Allocation                       2004                        2003                                  2004                        2003
Equity	securities	                                   	         65%	         	                    65%	          	                   64%	       	                    N/A	      	                    N/A
Debt	securities	                                     	         35%	         	                    27%	          	                   29%	       	                    N/A	      	                    N/A
Real	estate		 	                                      	           –						    	                      –						     	                     –					   	                    N/A	      	                    N/A
Cash	and	cash	equivalents	                           	           –						    	                     8%	          	                    7%	       	                    N/A	      	                    N/A
Other	investments	                                   	           –						    	                      –						     	                     –					   	                    N/A	      	                    N/A
Total	 	 	 	                                         	        100%	         	                  100%	           	                  100%	       	                    N/A	      	                    N/A

   third-party investment managers manage Ieee’s pension plan assets.                                        maintain the funds’ ability to meet all required benefit obligations. risk
assets are rebalanced, as the Company deems appropriate. Ieee’s                                              is controlled through diversification of asset types and investments in
investment strategy with respect to its pension asset is to maintain a                                       domestic and international equities, fixed income securities and cash.
diversified investment portfolio across several asset classes targeting an                                    the target asset allocation is 65% equities and 35% debt securities.
annual rate of return of 8.50%, while ensuring that the accumulated benefit                                   the guidelines allow the managers to keep up to 5% in cash and cash
obligation is fully funded. to develop the expected long-term rate of return                                 equivalents. Cash is higher at year end due to the annual pension
on assets assumption, the Company considered the historical returns and                                      contribution. the contribution made at December 31, 2004 and 2003 was
the future expectations for returns for each asset class, as well as the target                              approximately $6 million and $5 million, respectively.
asset allocation of the pension portfolio.
   Ieee’s pension and postretirement funds’ investment strategies are to                                     Contributions
invest in a prudent manner for the exclusive purpose of providing benefits                                    under the IrS minimum funding regulations there is no 2005 required
to participants. the investment strategies are targeted to produce a total                                   minimum contribution to the qualified defined benefit pension plans.
return that, when combined with Ieee’s contributions to the funds, will                                      however, Ieee is considering a discretionary contribution to the qualified

pension plans within the next year. no amount has been determined                                    net assets that were released from donor restrictions by incurring expenses
as of yet.                                                                                        satisfying the restricted purposes during fiscal 2004 and 2003 were as follows:
   Ieee expects to contribute approximately $18,000 to its non-qualified                           	 	                                      	              2004                       2003
pension plan and approximately $156,000 to its other postretirement benefit
plans during 2005.                                                                                Grant	funds	held	for	specific	purposes	   $	          422,200	    $	            1,186,100
                                                                                                  Funds	held	for	awards,	medals	and		      	                  	    	                      	
Expected Benefit Payments                                                                          	 other	specific	purposes	                	            18,500	    	               32,800
	 	                                      	    Pension Benefits               Other Benefits         	 	                                      $	          440,700	    $	            1,218,900
2005	                                    $	          2,328,100	    $	              156,100
2006	                                    	           2,573,400	    	              155,300
2007	                                    	            3,311,200	   	              156,000         14. Related Parties
2008	                                    	          4,232,500	     	              159,700         IEEE Foundation, Incorporated
2009	                                    	           4,142,800	    	              162,800         the Institute transacts with the Ieee Foundation, Incorporated (the
2010	to	2014	                            	          27,019,700	    	              877,000         “Foundation”), a related organization. the Foundation performs activities
                                                                                                  in support of the scientific and educational functions and programs of the
                                                                                                  Institute. the Institute contributed $536,000 and $518,000 in 2004 and 2003,
10. 401(k) Savings and Investment Plan                                                            respectively, to the Foundation. the Institute provides certain accounting and
                                                                                                  administrative services to the Foundation. the Foundation paid $354,000
the Institute has a defined contribution 401(k) Savings and Investment                             in 2004 and $342,000 in 2003 to the Institute for these support services.
plan for eligible employees. employees are eligible to participate in the plan                    the Institute solicits contributions on behalf of the Foundation through
after the start of the next pay period following thirty days of employment.                       its annual member renewal process. total contributions solicited were
under the plan, employees may generally contribute from 2% to 16% of                              $516,100 and $541,000 in 2004 and 2003, respectively. the Institute holds
their salary, however, not in excess of IrS limitations. the Institute provides                   on deposit $1,059,900 and $1,898,700 from the Foundation at December
a 100% matching contribution up to 4% of each employee’s salary. the                              31, 2004 and 2003, respectively. these amounts are invested by the Institute
Institute contributed $1,998,600 and $2,129,800 to the plan in 2004 and                           on behalf of the Foundation. receivables due from the Foundation include
2003, respectively.                                                                               grants receivable of $375,700 and $823,200 at December 31, 2004 and 2003,
                                                                                                  respectively, and other receivables of $30,700 and $13,300 at December 31,
11. Tax Status                                                                                    2004 and 2003, respectively. amounts due to the Foundation were $92,500
                                                                                                  and $96,700 at December 31, 2004 and 2003, respectively.
the Institute is qualified under Section 501(c)(3) of the Internal revenue                             Summarized financial data of the Foundation for 2004 and 2003 are
Code as an organization exempt from federal income taxes.                                         as follows:
                                                                                                  	 	 	                                    	 December 31, 2004          December 31, 2003
12. Financial Instruments and Risk Management                                                     Total	assets	                            $	       25,297,900	    $	          23,830,300
Cash                                                                                              Total	liabilities	                       	          594,300	     	              979,900	
the Institute maintains cash balances which, at times, are in excess of the                       Net	assets	                              	        24,703,600	    	           22,850,400
Federal Deposit Insurance Corporation insured amounts. the Institute
mitigates this risk by placing its cash in high quality financial institutions.                    Revenues	                                $	        4,050,400	    $	           5,169,900
                                                                                                  Expenses	                                	          2,197,200	   	            2,461,200
Accounts Receivable
a portion of the Institute’s revenues from periodical subscriptions, other                        IEEE - Industry Standards and Technology Organization
publication activities and educational products and services is sold by                           the Institute enters into transactions with the Ieee-Industry Standards
a company to end users. the amount due from the company for such                                  and technology organization (“Ieee-ISto”), a related organization. the
sales accounts for approximately 58% and 56% of the Institute’s accounts                          Ieee-ISto is an organization operating for the development of industry
receivable at December 31, 2004 and 2003, respectively.                                           standards. the Institute provides certain professional services and facilities
                                                                                                  that are reimbursed by the Ieee-ISto. total combined revenues from these
Debt Obligations                                                                                  transactions were $215,700 and $225,900 for 2004 and 2003, respectively.
the fair value of the Institute’s debt obligations (including current                             receivables due from the Ieee-ISto at December 31, 2004 and 2003 are
installments) is estimated based on quoted market prices for similar debt                         $768,600 and $769,400, respectively. the Institute’s management believes
of the same remaining maturities. at December 31, 2004 and 2003, the                              that ISto intends to repay these receivables. however, due to ISto’s financial
estimated fair value of the Institute’s debt was $11,911,800 and $13,480,700,                     condition and the extended time period it may take to receive such payment,
respectively. the Institute utilizes interest rate swap agreements to manage                      the Institute provided a full allowance for the amount due as of December 31,
the risk on interest rates associated with its debt obligations.                                  2004 and 2003.
                                                                                                     Summarized financial data of the Ieee-ISto for 2004 and 2003 are
13. Net Assets                                                                                    as follows:
                                                                                                  	 	 	                                    	 December 31, 2004          December 31, 2003
temporarily restricted and permanently restricted net assets consist of
the following:                                                                                    Total	assets	                            $	        4,010,200	    $	           2,755,200
	 	 		                                   	 December 31, 2004            December 31, 2003         Total	liabilities	                       	         4,720,200	    	            3,618,300	

Temporarily	Restricted:                                                                           Net	assets	                              	          (710,000)	   	             (863,100)
	 Grant	funds	held	for	specific	purposes	 $	            355,100	    $	             777,300         Revenues	                                $	         4,935,100	   $	           4,168,500
	 Funds	held	for	awards,	medals	and		 	                       	    	                     	        Expenses	                                	         4,782,000	    	            4,564,300
	 	 other	specific	purposes	              	            384,900	     	              376,600
	 	 		                                   $	           740,000	     $	            1,153,900
Permanently	Restricted:
	 Endowment	Principal	                   $	            191,400	    $	             191,400

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                                     October	2005
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