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  • 2010 Report of the Secretary-Treasurer

  • 2010 Report of the Secretary-Treasurer

    I am pleased to report that RSNA membership continues to reach new record levels. In 2010, the Society accepted 5,161 new members.

    We annually promote membership in our Society to new radiology residents and medical students. Through this year's promotional efforts 3,854 radiology residents and medical students joined the RSNA (1,423 new Members-in-training, 1,720 new Corresponding Members-in- training, 122 Fellows, and 589 Medical Students).

    We are pleased to see our specialty’s future leaders taking advantage of the great opportunities offered to them through RSNA membership. Members-in-training and medical students do not pay dues, have free access to RSNA benefits like online journals, online education and myRSNA, are allowed free admission to the RSNA Scientific Assembly and Annual Meeting, and may subscribe to the printed versions of Radiology and RadioGraphics at a highly subsidized rate.

    RSNA Record of Membership 
     

     

     

     

     

     

     

     
    Active Assoc Med Stu MIT Cor.-MIT Retired Honorary Corresp Totals
    2009  19,498  1,371  918  8,922  3,824  4,553  65  4,967  44,118 
    2010 19,278 2,103 1,159 9,316 4,393 4,654 67 5,240 46,210

     

     

     

     

     

     

     

     
    Net Increase 2,092

    I regret to report the passing of the colleagues named below as of October 31, 2010. RSNA mourns their deaths while honoring their service to the health and well-being of the communities in which they practiced medicine.

    Deceased RSNA Members from 11/1/09 - 10/31/10  

    Adele R. Altman, MD, Albuquerque, NM (R63)
    William M. Angus, MD, PhD, Palm Beach, FL (M96)
    Jose A. Aquino, MD, Halifax, NS, Canada (R65)
    Theodore G. Balbus, MD, Elkins Park, PA (R62)
    Willis L. Beller, MD, Topeka, KS (R48)
    Douglas E. Bibby, MD, Burkeville, TX (R48)
    Lynwood J. Brassett, MD, Baton Rouge, LA (R63)
    Robert L. Bree, MD, Seattle, WA (M70)
    William L. Bridges, MD, Fort Wayne, IN (R55)
    Armand E. Brodeur, MD, Saint Louis, MO (R52)
    Andrew K. Butler, MD, Marietta, OH (R57)
    Harley C. Carlson, MD, Rochester, MN (R65)
    Claude Y. Chong, MD, PhD, El Paso, TX (R70)
    Ruediger Christiansen, MD, Kiel, Germany (M95)
    Harvey W. Clewans, MD, Phoenix, AZ (R79)
    Lois C. Collins, MD, Excelsior, MN (R56)
    George E. Crickard, MD, Quincy, IL (R60)
    Thomas R. Damiano, MD, Chesterfield, VA (M86)
    Robert P. DeClark, MD, Sioux Falls, SD (R72)
    Andrew P. Dedick, MD, Juno Beach, FL (R59)
    Tibor Doby, MD, Cape Elizabeth, ME (R65)
    Robert E. Evans, MD, Salt Lake City, UT (R84)
    Thomas E. Fox, MD, Columbus, OH (R49)
    Leroy B. Garbe, MD, La Grange Pk, IL (R62)
    Gabriela I. Garcia-Thomas, MD, Fort Worth, TX (M94)
    Andrew F. Giesen, Jr, MD, Fort Walton Beach, FL (R60)
    Mitchell A. Goldman, MD, Manhasset, NY (M77)
    Alexander Gottschalk, MD, East Lansing, MI (R65)
    E. Richard Graviss, MD, Saint Louis, MO (M79)
    John E. Griffin, MD, Dallas, TX (R71)
    John M. Grogan, MD, Englewood, CO (R74)
    Jud W. Gurney, MD, Omaha, NE (M83)
    Darwood B. Hance, MD, Incline Village, NV (R720)
    Elmer J. Harris, MD, Jackson, MS (R51)
    Chapin Hawley, MD, Sea Island, GA (R50)
    Maurice K. Heninger, MD, Idaho Falls, ID (R57)
    Ernest E. Holt, MD, Fort Worth, TX (R63)
    Joseph T. Houk, MD, Seattle, WA, (R63)
    Frank L. Hussey Jr, MD, Glenview, IL (R62)
    Orren W. Hyman, Jr, MD, Sweetwater, TN (R57)
    Chester R. Jarmolowski, MD, Allison Park, PA (R76)
    Charles W. Jeffery, MD, Little Rock, AR (M88)
    Irving B. Joffe, MD, Concord, NC (R81)
    Heung K. Kim, MD, Wayne, MI (R83)
    Owings W. Kincaid, MD, Duluth, MN (R57)
    Frederick W. King, MD, Fair Oaks, CA (R63)
    Kenneth L. Krabbenhoft, MD, Huntington Woods, MI (M53)
    Kim C. Krarup, MBChB, Markfield, Leicestershire, United Kingdom (M08)
    James G. Krestensen, MD, Vidalia, LA (R69)
    Warren L. Kump, MD, Lake Elmo, MN (R60)
    Leon-Philippe Langelier, MD, Arthabaska, QC, Canada (R60)
    Thomas G. Langer, MD, Dallas, TX (M04)
    Harold J. Lasky, MD, Evanston, IL (M59)
    Igor Laufer, MD, Philadelphia, PA (M74)
    Lyle D. Litton, MD, Springfield, MO (R58)
    Mitchell C. Massey, MD, Bogalusa, LA (M72)
    Robert C. McLane, MD, Greenville, SC (R71)
    Geoffrey McLennan, MD, PhD, Iowa City, IA (M03)
    Jon W. Meilstrup, MD, Hummelstown, PA (R79)
    William L. Mills, MD, New Hope, PA (R59)
    Jeffery P. Moore, MD, Boston, MA (R62)
    Tarsicio D. Morales, MD, Miami, FL (R75)
    Hugh J. Mullin, MD, Sicklerville, NJ (R87)
    Morton G. Murdock, MD, Las Vegas, NV (R65)
    M. Pinson Neal Jr, MD, Richmond, VA (R58)
    Robert P. Newman, MD, Longmeadow, MA (R72)
    Krishna S. Parameswar, MD, Naperville, IL (M83)
    William J. Roenigk, DVM, College Station, TX (R65)
    Murray A. Rosenberg, MD, Easton, CT (R59)
    Mircea N. Sabau, PhD, Bolingbrook, IL (R80)
    Nicholas E. Sargent, MD, Santa Rosa, CA (R49)
    Clinton B. Sayler, MD, Vancouver, WA (R67)
    Gerald F. Scidmore, MD, Corona Del Mar, CA (M81)
    John E. Shick, MD, El Cajon, CA (R60)
    Eleanor M. Smergel, MD, Haddonfield, NJ (M80)
    William F. Stach, MD, Dekalb, IL (R73)
    Richard A. Steidl, MD, Rialto, CA (R73)
    Johann Steyn, MBChB, Vereeniging, South Africa (Z05)
    Carl T. Stubblefield, MD, Shelbyville, TN (R73)
    Steven K. Teplick, MD, Mobile, AL (M75)
    Eric G. Van de Velde, MD, De Pinte, Belgium (H84)
    Don L. Vickery, MD, San Carlos, CA (R59)
    William F. Weller, MD, Moneta, VA (R61)
    Claude M. Williams, MD, Cookeville, TN (R63)
    Fred Winsberg, MD, Chicago, IL (R81)
    John R. Witherow, MD, Alexandria, LA (M02)
    Ronald N. Zehner, MD, Modesto, CA (R83)

    Financial Statements 

    The financial statements for the fiscal year ended June 30, 2010, reflect positive earnings for the Society.

    The Society continues to experience financial growth as a result of maintaining its revenue sources and at the same time controlling its expenses. The return on investments is especially important for the Society's Research and Education Foundation, as its ability to fund grants is directly impacted by investment earnings.

    Wolf & Company LLP completed its annual audit of the Society's financial statements issuing an unqualified opinion, indicating that Wolf & Company LLP found no material differences to the financial information presented in the Society's year-end financial statements. In addition Wolf & Company 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 Wolf & Company LLP, as of June 30, 2010. 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.

    Burton P. Drayer, M.D.
    Secretary-Treasurer

    Statement of Financial Position 
    June 30, 2010 
    ASSETS 
    Cash and Short-Term Investments $8,847,886
    Receivables and Other Current Assets 5,053,233
    Long-Term Investments 74,758,669
    Property, Furniture and Equipment 21,441,855
    Total Assets   $110,101,643  

     
    Liabilities and Net Assets 
    Accounts Payable and Short-Term Debt $4,201,176
    Deferred Revenue 12,521,447
    Long-Term Debt and Other Long-Term Liabilities 6,786,800
    Net Assets:
      Unrestricted:
          Undesignated 39,628,848
          Designated-Research and Education Foundation 28,112,912
      Restricted:
          Temporarily restricted 645,484
          Permanently restricted 18,204,976
    Total net assets 86,592,220
    Total Liabilities and Net Assets   $110,101,643  

    Statement of Activities  
    Year ending June 30, 2010  
    REVENUE  
    Membership Services $5,168,068
    Publications and Educational Materials 12,107,369
    Annual Scientific Assembly 21,786,882
    Investment Earnings 6,024,540
    Contributions 2,553,773
    Total Revenue  $47,640,632  

     
    EXPENSES  
    Membership Services $4,509,691
    Publications and Educational Materials 16,386,861
    Annual Scientific Assembly 13,951,379
    Research and Education Foundation 3,144,620
    Depreciation 946,340
    Total Expenses   $38,938,891  

     
    Excess of operating revenue over operating expenses $8,701,741
    Non operating income $1,319,200
    Increase in net assets before unrealized gain (loss) on investments $10,021,401
    Unrealized gain (loss) on valuation of investments and interest rate swap $2,732,623

     
    Increase in Net Assets   $12,753,663  
    Net Assets at beginning of year    $73,838,557  
    Net Assets at end of year   $86,592,220  

    Total_Revenue_pie_chart_2010_1.jpg 

    Total_Expenses_pie_chart_2010_1.jpg 

    Drayer2009.jpg Burton P. Drayer, M.D. 2010 RSNA Secretary-Treasurer