In an annual report of the Institute, one inevitably becomes immersed in statistics: pages published, membership and circulation growths, and dollars received and expended. These are the easy yardsticks by which accomplishments may be measured and recorded. Yet, in a real sense, they miss one of the basic purposes of the Institute, the encouragement of “unity and effectiveness of effort among all those who are devoting themselves to physics”. In its efforts toward this end, the Institute looks to the societies, to its Corporate Associates, and to the physicists themselves to share the responsibility for achieving the goal. For its part, the Institute strives for excellence in every task which it undertakes so that physicists will be proud to have it represent their interests.