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  • 2011 Report of the Secretary-Treasurer

  • I am pleased to report that RSNA membership continues to reach new record levels. In 2011, 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, InteractED 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
    2010  19,278  2,103   1,159   9,316  4,393  4,654  67   5,240   46,210 
    2011 19,858 1,862 1,219 9,844 5,655 4,616 69 5,444 48,567

     

     

     

     

     

     

     

     
    Net Increase 2,357

    I regret to report the passing of the colleagues named below as of October 31, 2011. 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 11/1/10 - 10/31/11  

    Denis C. Adler, MD, Santa Barbara, CA (R47)
    Gerald W. Arney, MD, Gastonia, NC (M86)
    Bernard S. Aron, MD, West Palm Beach, FL (R83)
    Malcolm A. Bagshaw, MD, Palo Alto, CA (R65)
    Alfred Breit, MD, Postmuenster, Germany (R78)
    Thomas H. Brendel, MD, Flagler Beach, FL (R71)
    Richard E. Buenger, MD, Glenview, IL (RP53)
    Noland M. Canter Jr, MD, Harrisonburg, VA (R57)
    Julian H. Capps II, MD, Fredericksburg, TX (R68)
    Timothy J. Carroll, MD, PhD, Greenfield, MA (M99)
    David J. Cavan, MD, Worcester, MA (R57)
    Philip W. Cheung, MD, San Francisco, CA (R74)
    Roderick E. Darby, MD, Destin, FL (R75)
    Leon F. De Jongh, MD, Janesville, WI (M84)
    Powell G. Dillard Jr, MD, Lynchburg, VA (R60)
    Lewis Dosik, MD, Saint Petersburg, FL (R72)
    Theodore Fields, MS, Columbia, MD (R60)
    Melvin M. Figley, MD, Grantham, NH (R55)
    Arthur D. Fisher, MD, Santa Monica, CA (R630)
    Mary E. Fletcher, MD, Worcester, MA (R47)
    Robert C. Friedrich, MD, Stevens Point, WI (M83)
    James A. Gill, MD, Hot Springs Village, AR (R71)
    Gary M. Glazer, MD, Stanford, CA (M82)
    George G. Green, MD, Hot Springs Village, AR (R51)
    Maurice M. Greenfield, MD, Miami, FL (R49)
    Melvin L. Griem, MD, Aspen, CO (R63)
    Alvin Gross, MD, Chicago, IL, (R71)
    Robert A. Grugan, MD, Bonita Springs, FL (R64)
    Walter B. Hill, MD, Laguna Beach, CA (R50)
    Kin L. Hung, MD, Sacramento, CA (R70)
    Irwin S. Johnsrude, MD, Greenville, NC (R69)
    Theodore E. Keats, MD, Charlottesville, VA (R57)
    Kristjan R. Kristjanson, MD, Edmonton, AB, Canada (R80)
    Jesse T. Littleton III, MD, Theodore, AL (R52)
    Donald F. Loeffler, MD, Port Clinton, OH (R72)
    Hyman Love, MD, Longboat Key, FL (R60)
    Atchawee Luisiri, MD, Saint Louis, MO (M78)
    William H. Mathis Jr, MD, Marietta, GA (R53)
    Jack D. Miller, MD, Edmonton, AB, Canada (R77)
    Harry L. Miller, MD, Greenwich, CT (R83)
    George S. Naifeh Jr, MD, Prescott, AZ (R75)
    Jo Ann Neely, MD, Soquel, CA (R71)
    Thomas H. Newton, MD, Kentfield, CA (M70)
    George C. Nomikos, MD, Alexandria, VA (M01)
    Charles W. O'Dell Jr, MD, Battle Creek, MI (R73)
    Maimu L. Ohanian, MD, Santa Barbara, CA (R72)
    Arthur R. Payzant, MD, New Orleans, LA (R50)
    Holger T. Pettersson, MD, PhD, Lomma, Sweden (H91)
    Joyce C. Pinckard, DO, Roseville, CA (M02)
    Nicholas F. Pizzolato, MD, Marietta, GA (R71)
    Richard B. Price, MD, Piedmont, OK (R58)
    John E. Rhodenbaugh, MD, Pleasanton, CA (R64)
    Roselyn H. Richman Jason, MD, Malibu, CA (M70)
    Max B. Roeder, MD, Boerne, TX, (R67)
    Bernard Rosen, MD, Sugar Land, TX (R55)
    Daniel L. Rousseau, MD, Mount Clemens, MI (R55)
    Carol A. Rymer, MD, Denver, CO (M77)
    Leroy S. Safian, MD, Fair Lawn, NJ (R59)
    John B. Shields, MD, Saint Louis, MO (M68)
    Lloyd H. Smith, MD, Kingsburg, CA (R41)
    Enio O. Solisio, MD, Flushing, NY (R77)
    Paul M. St Aubin, MD, McCook, NE (R65)
    Howard A. Steiner, MD, Cleveland, OH (R48)
    Michael S. Stern, MD, Roseville, NSW, Australia (M89)
    Masayuki Suzuki, MD, Kanazawa, Ishika, Japan (M97)
    Carroll E. Swanger, MD, Jamestown, ND (R65)
    Joseph Tannenhaus, MD, Homosassa, FL (R66)
    Theodore A. Tristan, MD, Camp Hill, PA (RP60)
    Thomas W. Tufts, MD, Fort Lauderdale, FL (M94)
    Teviah J. Turkat, MD, Thousand Oaks, CA (M66)
    Renan P. Uflacker, MD, Charleston, SC (A80)
    John F. Wallerius, MD, Green Bay, WI (R82)
    Russell Wigh, MD, Columbus, IN (R50)
    Gabriel H. Wilson, MD, San Diego, CA (R66)
    David B. Winter, MD, Elk Mound, WI (M08)
    Jerome F. Wiot, MD, Cincinnati, OH (M6

    Financial Statements 

    The financial statements for the fiscal year ended June 30, 2011, 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, 2011. 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.

    George S. Bisset, M.D.
    Secretary-Treasurer

    Statement of Financial Position 
    June 30, 2011 
    ASSETS 
    Cash and Short-Term Investments $7,795,152
    Receivables and Other Current Assets 5,532,133
    Long-Term Investments 93,881,500
    Property, Furniture and Equipment 20,925,153
    Total Assets   $128,133,938  

     
    Liabilities and Net Assets 
    Accounts Payable and Short-Term Debt $4,552,861
    Deferred Revenue 12,161,606
    Long-Term Debt and Other Long-Term Liabilities 5,759,580
    Net Assets:
      Unrestricted:
          Undesignated 48,255,704
          Designated-Research and Education Foundation 34,223,987
      Restricted:
          Temporarily restricted 2,645,224
          Permanently restricted 20,534,976
    Total net assets 105,659,891
    Total Liabilities and Net Assets   $128,133,938 

    Statement of Activities  
    Year ending June 30, 2011  
    REVENUE  
    Membership Services $5,133,220
    Publications and Educational Materials 12,905,786
    Annual Scientific Assembly 22,092,496
    Investment Earnings 7,550,960
    Contributions 3,833,204
    Total Revenue  $51,515,666 

     
    EXPENSES  
    Membership Services $4,374,345
    Publications and Educational Materials 15,958,954
    Annual Scientific Assembly 13,576,491
    Research and Education Foundation 3,789,950
    Depreciation 988,925
    Total Expenses   $38,988,665  

     
    Excess of operating revenue over operating expenses $12,827,001
    Non operating income $963,883
    Increase in net assets before unrealized gain (loss) on investments $13,790,884
    Unrealized gain (loss) on valuation of investments and interest rate swap $5,267,787

     
    Increase in Net Assets   $19,067,671 
    Net Assets at beginning of year    $86,592,220  
    Net Assets at end of year   $105,659,891  

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    George S. Bisset, M.D. 2011 RSNA Secretary-Treasurer