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  • 2005 Report of the Secretary-Treasurer

  • I am pleased to report that the Society accepted 3,471 new members during the year 2005.

    We annually promote membership in our Society to new radiology residents and medical students. Through this year's promotional efforts 2,653 radiology residents and medical students joined the Society (1,251 new Members-in-training, 963 new Corresponding Members-in-training, 108 Fellows, and 331 Medical Students). We are pleased to see these 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 Totals
    2004 18,565 1,069 666 6,593 1,943 4 3,962 61 4,037 36,900
    2005  18,812  856  829  7,159  2,443  4  4,045  64  4,095  38,307 
    Net Difference 247 -213 163 566 500 0 83 3 58 1,407

     

    In 2005, seven Counselors retired from their positions and each nominated an individual to be considered as their successors in 2005. The new Counselors were approved at the September meeting of the RSNA Board of Directors.

    I regret to report the passing of the colleagues named below as of October 31, 2005. The Society mourns their deaths, comforted by the knowledge of their many devoted services to the health and wellbeing of the communities in which they practiced medicine.

    Deceased RSNA Members from 11/1/04 - 10/31/05 

    R59 Gordon H. Algie, MD Sault Ste Marie ON CANADA
    R58 Abraham Edward Alpert, MD Woodbridge CT
    R63 Donald Hood Anderson, MD Panama City FL
    M86 James T. Arnold, MD Tulsa OK
    M03 Yahya M. Berkmen, MD New York NY
    M61 Norman Blank, MD Stanford CA
    R68 Ernest H. Braukman, MD Saint Petersburg FL
    R73 Anthony J. Bravo, MD Fairfield CT
    R53 Dorr H. Burns, MD Grand Junction CO
    R76 Ronald Fleming Calkins, MD White Stone VA
    R76 John Roderick Cameron, PhD Gainesville FL
    R48 Russell Joseph Catalano, MD Beaumont TX
    R50 Judson Ireland Chalkley, MD Nicholasville KY
    R76 A. Brooks Chapman, MD Dallas TX
    R73 Charles W. Coop, MD Nanaimo BC CANADA
    R58 Millard Norval Croll, MD King of Prussia PA
    R53 Frank McLellan Dain III, MD Durham NC
    M84 Kelvin S. Danielson, MD Payson AZ
    R36 Anthony James Delario, MD Chestertown MD
    R55 Raymond E. Dixon, MD Cheyenne WY
    M81 Charles A. Durrell III, MD Southern Pines NC
    R55 Robert Bray Engle, MD Laguna Beach CA
    R70 George Farmlett, MD Laconia NH
    R81 Constantine W. Flevares, MD Yankton SD
    M68 Harold L. Floyd, MD Richmond VA
    M86 Gregory Scott Foster, DO Annandale NJ
    R59 Fredie P. Gargano, MD Miami FL
    M69 Henry I. Goldberg, MD Tiburon CA
    M76 Ira J. Gordon, MD Pine Bluff AR
    R72 William H. Greendyke, MD Plattsmouth NE
    R48 Maurice M. Haskell, MD Castro Valley CA
    R66 Robert D. Heilman, MD De Tour Village MI
    R53 Eugene L. Hendershot, MD Evansville IN
    R53 Sidney Hendler, MD Pompano Beach FL
    C98 Jan H.C.L. Hendriks, MD, PhD Molenhoek NETHERLANDS
    R68 Stanley E. Hodges, Jr, MD Plano TX
    R77 Bevley Dan Holt, MD Greeneville TN
    M85 Teresa J. Huggins, MD San Antonio TX
    R60 David W. Hughes, MD Bruce Mines ON CANADA
    R60 David A. Huot, MD Pittsburgh PA
    R63 A. Rehai Islam, MD Bremerton WA
    R67 Joseph Israel, MD West Orange NJ
    R66 Newton R. Jackson, MD Escondido CA
    R61 Ahren Jacobson, MS Louisville KY
    R77 Rudolph J. Junda, MD Sherborn MA
    R58 John J. Kane, MD Holden Beach NC
    R59 Gustave Kaplan, MD Miami FL
    C92 Luiz Karpovas, MD Sao Paolo SP BRAZIL
    R82 Ronald C. Kelly, MD Bristol TN
    R55 Harold M. Landsman, MD Longmont CO
    R54 John Seth Laughlin, PhD Scarsdale NY
    R72 Robert E. Lawler, MD Cocoa FL
    R58 Thomas C. Lipscomb, MD Wauwatosa WI
    R59 Stanley J. Lucas, MD Cincinnati OH
    M83 Robert J. Lull, MD San Francisco CA
    R68 James P. Mac Laughlin, MD Pasadena CA
    R47 Francis J. Mantell MD Springfield MO
    M89 David C. McMurray, MD San Antonio TX
    R59 Charles F. Melchor, Jr, MD Myrtle Beach SC
    C89 Franz R. Miess, MD Linz AUSTRIA
    R42 Lawson E. Miller, Jr, MD North Palm Beach FL
    R62 Alvin Nathan, MD Fort Myers FL
    R53 James F. Nelson, MD Redmond WA
    R67 Wilson Gault Newell, MD Brighton MI
    R61 Gregory B. Nichols, MD Wilsonville OR
    R63 Robert H. Nickau, MD Lakeland FL
    RC87 Cordula A. Nithakorn, MD Munich GERMANY
    R54 Seymour Fiske Ochsner, MD Metairie LA
    R66 William Robert Oris, MD Galion OH
    R66 James Harold Owsley, MD Hickory NC
    M57 Robert G. Parker, MD Los Angeles CA
    M74 Robert E. Pearson, MD Deerfield Beach FL
    M97 Brian J. Penrod, MD San Antonio TX
    R79 James A. Petersen, MD Bedford MA
    R73 Edward Rogow, MD Pittsburgh PA
    M83 Simon M. Roman-Goldstein, MD Portland OR
    M84 Tony J. Ryals, MD Zachary LA
    R79 Walter T. Sale, MD Duluth GA
    R53 Nathan P. Salner, MD West Hartford CT
    M82 Stanley N. Schatzman, MD New York NY
    M98 Rupert Schmidt-Ullrich, MD Richmond VA
    R52 Hildegarde A. Schorsch, MD Chicago IL
    RC87 Henri E. Schutte, MD Wassenaar NETHERLANDS
    R50 Robert D. Shepard, MD Lexington KY
    M76 Kenneth K. Shin, MD Orland Park IL
    R58 Ellis L. Silberman, MD Encino CA
    R46 Harry Slobodin, MD Evanston IL
    R76 Vernon I. Smith, Jr, MD Memphis TN
    M85 Robert E. Speir, Jr, MD Myrtle Beach SC
    R57 George N. Stein, MD Villanova PA
    M65 Harald O. R. Stolberg, MD Hamilton ON CANADA
    M75 Terry Jean Swaim, MD Rogers AR
    L28 Lauriston S. Taylor, ScD Mitchellville MD
    M90 Richard J. Tello, MD Wellesley MA
    C94 Francois Terrier, MD Geneva 14 SWITZERLAND
    R81 John P. Thomas, MD Trinidad CO
    R61 H. Melvin Vaughn, MD Birmingham AL
    RC54 Halvor Vermund, MD Eiksmarka NORWAY
    R55 Benedict Vicas, MD Burlingame CA
    R61 William Allison Vint, MD Pasadena TX
    R52 Herbert Hughes Virden, MD Paradise Valley AZ
    R63 Dewitt Edlay Wold, MD Seattle WA
    R70 Joseph Ottis Wood, MD McComb MS
    M74 Stephen A. Zinn, MD Jersey City NJ

    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, 2005 
    ASSETS 
    Cash and Short-Term Investments $8,096,245
    Receivables and Other Current Assets 3,047,634
    Long-Term Investments 49,050,987
    Property, Furniture and Equipment 20,600,788
    Total Assets  $80,795,654

     
    Liabilities and Fund Balance 
    Accounts Payable and Short-Term Debt $1,603,001
    Deferred Revenue 10,707,186
    Long-Term Debt and Other Long-Term Liabilities 11,596,585
    Net Assets:
      Unrestricted:
          Undesignated 21,654,429
          Designated-Research and Education Foundation 20,092,838
      Restricted:
          Temporarily restricted 2,881,639
          Permanently restricted 12,259,976
    Total net assets 56,888,882
    Total Liabilities and Net Assets  $80,795,654  
       
    Statement of Activities 
    Year ending June 30, 2005 
    REVENUES 
    Membership Services $4,477,669
    Publications and Educational Materials 10,262,776
    Annual Scientific Assembly 19,951,474
    Investment Earnings 2,890,511
    Contributions 1,850,646
    Total Revenues  $39,433,076  
     
    EXPENSES 
    Membership Services $3,125,034
    Publications and Educational Materials 12,467,453
    Annual Scientific Assembly 12,802,429
    Research and Education Foundation 2,797,103
    Depreciation 1,298,902
    Total Expenses  $32,490,921  
     
    Increase in net assets before unrealized gain (loss) on investments $6,942,155
    Unrealized gain (loss) on valuation of investments and interest rate swap 16,081
     
    Increase in Net Assets  $6,958,236  
    Net Assets at beginning of year  49,930,646 
    Net Assets at end of year  $56,888,88 

    Robert R. Hattery, M.D.
    RSNA President-elect/Secretary-Treasurer

     

    Robert R. Hattery, M.D. RSNA President-elect/Secretary-Treasurer