2017 Secretary-Treasurer report

Valerie P. Jackson, MD

Secretary-Treasurer

I am pleased to report that RSNA membership continues to maintain a high level in line with previous years. In FY 2017-2018, the Society accepted 5,681 new members.

We annually promote membership in our Society to new radiology residents and medical students. Through this year's promotional efforts 4,088 radiology residents and medical students joined the RSNA (1,337 new Members-in-training, 1,960 new Corresponding Members-in-training, 152 Fellows, and 639 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 Education, are allowed free admission to the RSNA Scientific Assembly and Annual Meeting, and receive access to the journals Radiology and RadioGraphics or subscribe to the printed versions of the journals at a highly subsidized rate.

RSNA Record of Membership

	Active	Assoc	Med Stu	MIT	Cor.-MIT	Retired	Honorary	Corresp	Totals
FY 17-18	18,859	1,829	2,197	10,672	8,264	5,961	68	6,387	54,237
FY 16-17	19,154	1,830	1,997	10,729	8,588	5,743	69	6,503	54,613

Deceased RSNA Members from 11/1/17 - 10/31/18

David F. Adcock, MD, Batesburg, SC (R72)

Edgardo J. Angtuaco, MD, Little Rock, AR (M78)

John A. Anziulewicz, MD, Moneta, VA (R78)

Stewart R. Bakst, MD, Lake Mary, FL (M73)

Murray G. Baron, MD, Atlanta, GA (R73)

Michael C. Beachley, MD, Bakerstown, PA (R73)

Michael F. Berry, MD, Bentonville, AR (M06)

Thomas R. Blackburn, MD, Shelby, NC (R72)

John F. Boardman, MD, South Newfane, VT (M09)

William G. Bradley Jr, MD, PhD, San Diego, CA (M82)

Luther W. Brady Jr, MD, Philadelphia, PA (RP57)

Nestor R. Canoy, MD, Columbia, MO (R76)

Calvin R. Cassady, MD, Van Buren, AR (R72)

Robert W. Counts, MD, Rochester, MI (R60)

James D. Cox, MD, Houston, TX (M72)

Joseph J. Darlak II, MD, New Orleans, LA (R76)

Thomas J. DeWind, MD, Saint Joseph, MI (M91)

Andrew J. Dwyer, MD, Bethesda, MD (M08)

Merlyn E. Eckelberg, MD, Lakeland, FL (R82)

Daniel A. Finelli, MD, Akron, OH (M85)

Jack P. Fink, MD, Lincolnwood, IL (R56)

James H. Freeman, MD, Redding, CA (R64)

Rasiklal B. Ganatra, MD, Terre Haute, IN (R88)

D. J. Gosch-Barker, MD, Middletown, RI (R82)

Charles N. Griffin Jr, MD, Mount Pleasant, SC (R68)

David J. Harvey, FRCR, Swansea, United Kingdom (M02)

H. Peter Higer, MD, Giessen, Germany (R91)

James C. Hunt, MD, Washington, IL (R62)

Lawrence R. Irish, MD, Reno, NV (R60)

Robert H. Jaros, MD, Shelburne, MA (R82)

Virginia Kanick, MD, New York, NY (R66)

Troy W. Kerby, MD, Dallas, TX (M02)

Nettie G. King, MD, Louisville, KY (R81)

Lee A. Krystosek, MD, Clearwater, FL (R60)

Theodore S. Larson Jr, MD, Montoursville, PA (R82)

Claude Leger, MD, Quebec, Canada (M81)

Herbert M. Loyd, MD, Abilene, TX (R69)

Michael L. Manco-Johnson, MD, Greenwood Village, CO (R74)

Alexander R. Margulis, MD, New York, NY (R60)

William R. Massey, MD, Gallatin, TN (R67)

Gilbert S. Melnick, MD, Caldwell, NJ (R68)

John A. Michal III, MD, Montecito, CA (R75)

William C. Miller Jr, MD, Fayetteville, NC (R70)

Pui Meng Mok, MBBS, Auckland, New Zealand (R96)

Paul A. Mori, MD, Jacksonville, FL (R58)

Richard W. Naufal, MD, Dallas, TX (R84)

Carl L. Neufeld, DO, Columbus, OH (R77)

Heather F. Penney, MD, Alberta, Canada (R83)

Leslie Preger, MD, San Francisco, CA (R83)

Russell V. Radcliffe, MD, Auburn, ME (R73)

Alain Rahmouni, MD, Nogent Sur Marne, France (M00)

Robert Robbins, MD, Redding, CA (R53)

Bruce C. Salo, MD, Stratford, WI (R84)

Emanuel Salzman, MD, Denver, CO (R59)

Douglas E. Sanders, MD, Ontario, Canada (R68)

Jeffrey A. Scrugham, MD, Memphis, TN (M06)

Thomas L. Slovis, MD, Bloomfield Hills, MI (R74)

William P. Stallworth, MD, Knoxville, TN (R80)

Bernard A. Tansman, MD, Los Angeles, CA (M14)

Louis M. Teresi, MD, Irvine, CA (M93)

Thomas A. Thomas, MD, Stockton, CA (R83)

Fridon Todua, MD, Tbilisi, Georgia (M05)

Anthony Vasilas, MD, Manhasset, NY (R59)

Mark D. Wellens, MD, Acworth, NH (R98)

Juergen K. Willmann, MD, Stanford, CA (M08)

Affan S. Yenal, MD, Merritt Island, FL (R66)

Financial Statements

The financial statements for the fiscal year ended June 30, 2018, reflect positive earnings for the Society.

The Society continues to experience financial growth. This is 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.

BKD LLP completed its annual audit of the Society's financial statements issuing an unmodified opinion, indicating that BKD LLP found no material differences to the financial information presented in the Society's year-end financial statements. In addition BKD 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 BKD LLP, as of June 30, 2018. The detailed audited report is kept on file at the RSNA's headquarters: Radiological Society of North America, 820 Jorie Boulevard Suite 200, Oak Brook, IL 60523. It is available for review there by members of the RSNA.

Valerie P. Jackson, MD

Secretary-Treasurer

Statement of Financial Position
June 30, 2018

Assets
Cash and Short-Term Investments	$10,129,001
Receivables and Other Current Assets	8,073,615
Long-Term Investments	133,196,762
Property, Furniture and Equipment	22,901,787
Total Assets	$174,301,165

Liabilities and Net Assets
Accounts Payable and Short-Term Debt	$6,599,513
Deferred Revenue	24,383,672
Long-Term Debt and Other Long-Term Liabilities	197,129
Net Assets:
Unrestricted:
Undesignated	63,292,345
Designated-Research and Education Foundation	53,721,902
Restricted
Temporarily restricted	2,391,628
Permanently restricted	23,714,976
Total net assets	143,120,851
Total Liabilities and Net Assets	$174,301,165

Statement of Activities
Year ending June 30, 2018

Revenue
Membership Services	$6,318,251
Publications and Educational Materials	13,580,941
Annual Scientific Assembly	26,984,718
Investment Earnings	6,423,587
Contributions	2,257,610
Total Revenue	$55,565,107

Expenses
Membership Services	$9,038,423
Publications and Educational Materials	17,704,445
Annual Scientific Assembly	17,406,645
Research and Education Foundation	5,351,754
Depreciation	1,601,071
Total Expenses	$51,102,338

Excess of operating revenue over operating expenses	$4,462,769
Federal and state income tax expense	(186,837)
Non operating income	(616,955)
Increase in net assets before unrealized gain (loss) on investments	$3,658,977
Unrealized gain (loss) on valuation of investments and interest rate swap	(144,217)

Increase in Net Assets	$3,514,760
Net Assets at beginning of year	$139,606,091
Net Assets at end of year	$143,120,851