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  • 2008 Report of the Secretary-Treasurer

  • I am pleased to report that the Society accepted 4,069 new members during the year 2008.

    We annually promote membership in our Society to new radiology residents and medical students. Through this year's promotional efforts 2,983 radiology residents and medical students joined the Society (1,413 new Members-in-training, 1,124 new Corresponding Members-in-training, 92 Fellows, and 354 Medical Students). We are pleased to see the radiologists-in-training and medical students take advantage of the great opportunities offered to them by joining the Society. Members-in-training and medical students do not pay dues, have free access to RSNA online journals and InteractED, are allowed free admission to the RSNA Scientific Assembly and Annual Meeting, and may subscribe to the printed copy of Radiology and RadioGraphics, at a highly subsidized rate.

    RSNA Record of Membership  

      Active Assoc Med Stu MIT Cor.-MIT Emeritus Retired Honorary Corresp RA/RT Totals
    2007 19,440 811 1,082 8,014 3,183 4 4,292 64 4,385 24 41,299
    2008  19,604  909  823  8,260  3,609  0  4,451  66  4,621  39  42,382 
    Net Difference 164 98 -259 246 426 0 159 2 236 15 1,083

     

    I regret to report the passing of the colleagues named below as of October 31, 2008. The Society mourns their deaths, comforted by the knowledge of their many devoted services to the health and well-being of the communities in which they practiced medicine.

    Deceased RSNA Members from 11/1/07 - 10/31/08

    Fidel A. Aguirre, MD, Miami, FL (R58)
    Nathan Arenson, MD, Gulf Breeze, FL (R50)
    Marc A. Asselin, MD, Brossard, QC Canada (R82)
    Michael P. Barry, MD, Westmount, QC Canada (R61)
    Alexander S. Belman, MD, Macungie, PA (R76)
    Arthur F. Bishop, MD, Peoria, IL (M81)
    Paul D. Boschult, MD, Omaha, NE (R73)
    Stephen W. Brown, MD, Augusta, GA (R47)
    Jack A. Brucher, MD, Savannah, GA (R69)
    Joseph D. Calhoun, MD, Little Rock, AR (R51)
    Donald M. Callahan, MD, Harrisonburg, VA (R67)
    Kathran M. Chan, MD, Dayton, OH (M84)
    Sridhar R. Charagundla, MD, PhD, Philadelphia, PA (G00)
    Sergio A. Chavez Lopez, MD, Zacapu, Michoacan Mexico (M99)
    Herbert B. Copeland, MD, Naples, FL (R53)
    Leonard Davis, MD, Sherman Oaks, CA (R61)
    Larry E. De Volld, MD, Canyon Lake, TX (M79)
    Samuel J. Dwyer III, PhD, Charlottesville, VA (A94)
    William D. Eggleston, MD, Toledo, OH (R76)
    Samuel B. Feinberg, MD, Minneapolis, MN (R56)
    Alvin W. Finestone, MD, Clifton Forge, VA (R60)
    Albert P. Fischer, Jr, MD, Sun City Center, FL (R89)
    Henry J. Fox, MD, Fairfield, CT (R58)
    Keith W. Gallehugh, MD, Overland Park, KS (R69)
    Eva L. Gilbertson, MD, Seattle, WA (R48)
    Jerome J. Gleich, MD, Fairfield, IA (M78)
    Melvin A. Golden, MD, Lubbock, TX (M74)
    James R. Guyton, Jr, MD, Lenoir City, TN (R73)
    Robert A. Harris, DO, Dublin, OH (M84)
    Bruce H. Hasegawa, PhD, San Francisco, CA (A89)
    Ernest M. Henken, MD, East Hartford, CT (R58)
    Julius Heydemann, MD, Chiago, IL (R49)
    Martin Hochhauser, MD, Palm City, FL (R64)
    Thure M. Holm, MD, Lund, Sweden (H82)
    Erwin P. Huang, MD, Toronto, ON Canada (R71)
    Sophia C. Johnson, MD, Miami, FL (T05)
    Richard M. Kafka, MD, Alexandria, VA (R53)
    Hitoshi Katayama, MD, Kokubunji City, Tokyo, Japan (H84)
    Thomas Keely, Jr, MD, Tucson, AZ (R56)
    Max C. King, MD, Decatur, GA (R74)
    Vernon V. Kirby, Jr, MD, Forestburg, TX (R64)
    Nelson E. Klamm, MD, Palm Harbor, FL (R57)
    Harvey A. Koolpe, MD, Elkins Park, PA (M91)
    Leonard O. Langer, Jr, MD, Minneapolis, MN (R69)
    Charles D. Le Neave, MD, Mayfield, KY (R68)
    Steven A. Leibel, MD, Stanford, CA (M99)
    Wolfe Light, MD, Montreal, QC Canada (R52)
    Robert L. Lindsay, MD, DDS, Knoxville, TN (M92)
    Paul Loewe, MD, Mexico, DF Mexico (R54)
    John H. Lohnes, MD, Cedar Rapids, IA (R65)
    Steven C. Malchow, MD, Scottsdale, AZ (M94)
    Frank H. Marek, MD, Lake Charles, LA (R48)
    John G. McAfee, MD, Chevy Chase, MD (M56)
    M. Donald Merrill, MD, Saint George, UT (R63)
    Abdul-Halim Mheir, MD, Outremont, QC Canada (R72)
    J. Thomas Miller, Jr, MD, Markle, IN (R76)
    Warren A. Nafis, MD, Glendora, CA (R66)
    Elise M. Neeld, MD, Nevis, MN (R72)
    Robert E. Paul, Jr, MD, Northborough, MA (R66)
    Henry P. Pendergrass, MD, Gladwyne, PA (R57)
    Harvey Picker, Camden, ME (H97)
    Mario P. Pliego, MD, Bloomington, MN (R81)
    James A. Pollock, MD, Sacramento, CA (R79)
    Walter E. Powers, MD, Des Plaines, IL (R69)
    Ernest H. Price, MD, San Diego, CA (R55)
    John E. Prominski, MD, Arlington, VA (R64)
    Robert S. Richards, MD, Marblehead, MA (R64)
    Charles H. Robinson, MD, El Paso, TX (R71)
    David L. Robinson, MD, Tyler, TX (R79)
    Wayne D. Ross, MD, Chestnut Hill, MA (R59)
    Joel F. Sammet, MD, Highland Park, IL (R48)
    James A. Schelble, MD, Milwaukee, WI (R57)
    Ralph Schlaeger, MD, New York, NY (R56)
    Alvin D. Sears, MD, Dallas, TX (R62)
    William R. Seibold, Jr, MD, Texarkana, TX (R63)
    Janina Sekowski, MD, Rego Park, NY (R83)
    Avishai W. Shapiro, MD, Lexington, MA (M91)
    Eugene B. Sharpe, MD, Asheville, NC (R70)
    Jason Sheehan, MBBCh, Toledo, OH (T06)
    Lester D. Shook, MD, Fargo, ND (R52)
    Stanley W. Siegler, MD, Sea Girt, NJ (R64)
    John D. Stevenson, MD, West Vancouver, BC Canada (R56)
    Karen J. Stuck, MD, Northville, MI (M78)
    Eldred B. Teague, MD, Birmingham, AL (R49)
    Weawdao Techawattanakul, MD, Chiengrai, Thailand (C04)
    Mark A. Vasa, MD, Brockton, MA (M02)
    F. Robert Walch, MD, Sarasota, FL (R70)
    Sheldon Waldman, MD, Pompano Beach, FL (R80)
    Orliss Wildermuth, MD, Seattle, WA (R55)
    Richard D. Wolfe, MD, Fairfield, CA (R79)
    Brian S. Worthington, MD, Derbyshire, United Kingdom (H89)

    Financial Statements

    The financial statements for the fiscal year ended June 30, 2005, reflect positive earnings for the Society.

    For the fourth straight year the RSNA has experienced financial growth due to controlling its expenses and maintaining its revenue sources. In addition, the Society's investment portfolios had positive returns. This is especially important for the Society's Research and Education Foundation, as its ability to fund grants is directly impacted by the return on investments. The continue financial growth of the Society has helped increase its reserves, which helps protect the RSNA from any significant economic downturns and provides available funds for future programs and initiatives.

    KPMG LLP completed its annual audit of the Society's financial statements issuing an unqualified opinion, indicating that KPMG LLP found no material differences to the financial information presented in the Society's year-end financial statements. In addition, KPMG LLP indicated to the Audit Committee that it did not find any material weaknesses in the Society's internal accounting procedures.

    The following Balance Sheet and Statement of Activities have been condensed from the year-end audit report prepared by KPMG LLP, as of June 30, 2005. The detailed audited report is kept on file at the RSNA's headquarters: Radiological Society of North America, 820 Jorie Boulevard, Oak Brook, IL 60523. It is available for review there by members of the RSNA. 

    Statement of Financial Position  
    June 30, 2008 
    ASSETS  
    Cash and Short-Term Investments $5,509,214
    Receivables and Other Current Assets 4,058,301
    Long-Term Investments 73,433,161
    Property, Furniture and Equipment 22,687,258
    Total Assets  $105,687,934  
     
    Liabilities and Net Assets 
    Accounts Payable and Short-Term Debt $2,036,473
    Deferred Revenue 11,561,887
    Long-Term Debt and Other Long-Term Liabilities 8,701,205
    Net Assets:
      Unrestricted:
          Undesignated 36,546,298
          Designated-Research and Education Foundation 27,889,857
      Restricted:
          Temporarily restricted 2,650,238
          Permanently restricted 16,301,976
    Total net assets 83,388,369
    Total Liabilities and Net Assets
     
    $105,687,934
     
       
    Statement of Activities 
    Year ending June 30, 2008  
    REVENUE  
    Membership Services $4,632,364
    Publications and Educational Materials 11,224,030
    Annual Scientific Assembly 25,119,082
    Investment Earnings 4,454,680
    Contributions 4,129,383
    Total Revenue   $49,559,539  

     
    EXPENSES 
    Membership Services $4,784,148
    Publications and Educational Materials 16,847,914
    Annual Scientific Assembly 14,623,225
    Research and Education Foundation 3,178,255
    Depreciation 908,480
    Total Expenses   $40,342,022  
     
    Increase in net assets before unrealized gain (loss) on investments $9,217,517
    Unrealized gain (loss) on valuation of investments and interest rate swap -6,503,793
     
    Increase in Net Assets  $2,713,724  
    Net Assets at beginning of year   80,674,645 
    Net Assets at end of year  $83,388,369  

     

     Total_Revenue_pie_chart_2008_1.gif 

     Total_Expenses_pie_chart_2008_2.gif 

    Gary J. Becker, MD Secretary-Treasurer