2019 Report of the Secretary-Treasurer

I am pleased to report that RSNA membership continues to maintain a high level in line with previous years. In FY 2018-2019, the Society accepted 6,339 new members.

We annually promote membership in our Society to new radiology residents and medical students. Through this year's promotional efforts 4,579 radiology residents and medical students joined the RSNA (1,399 new Members-in-training, 2,221 new Corresponding Members-intraining, 164 Fellows, and 795 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, RadioGraphics, Radiology: Artificial Intelligence, Radiology: Cardiothoracic Imaging and Radiology: Imaging Cancer or subscribe to the printed versions of Radiology and RadioGraphics at a highly subsidized rate.

 

RSNA Record of Membership

Deceased RSNA Members from 11/1/18 - 10/31/19

Jonathan Adler, MD, Katonah, NY (R72)
William R. Allen Sr, MD, Leavenworth, KS (R56)
John R. Amberg, MD, La Jolla, CA (R60)
Jim W. Baltzell, MD, Minnetonka, MN (R98)
Michael E. Berlow, MD, Lakewood Ranch, FL (R79)
Rainer G. Bluemm, MD, Bad Salzuflen, Germany (R84)
Murray Boles, MD, Southfield, MI (R71)
G. H. Brister, MD, Wausau, WI (R63)
Donald R. Bryant, MD, Flushing, MI (R51)
Hyo H. Byun, MD, PhD, Northbrook, IL (R71)
Noel Carroll, MD, Townshend, VT (R76)
Winston T. Casis, MD, Gurnee, IL (R75)
Rosemary J. Chambers, MD, Gerrards Cross, United Kingdom (R81)
Ki E. Chung, MD, Chicago, IL (R71)
Michel Claudon, MD, Vandoeuvre-les-Nancy, France (M91)
Edward M. Cockerill, MD, Zionsville, IN (R72)
Richard M. Craig, MD, Savannah, GA (R58)
Giulio J. D'Angio, MD, Philadelphia, PA (R66)
Marvin L. Daves, MD, Prescott, AZ (R63)
Felipe N. De Jesus, MD, Gurabo, PR (R82)
Jose De Jesus De La Torre Beltran, MD, Hermosillo, Mexico (M12)
Bhasker J. Desai, MD, Maple Grove, MN (R63)
Gerald F. Dobel, MD, Columbia, MO (R66)
Conway J. Don, MD, Ottawa, Canada (R77)
John T. Dwyer, MD, Jackson, NJ (R82)
William R. Eyler, MD, Beverly Hills, MI (R54)
Laurence H. Fitzgerald, MD, Walnut Creek, CA (R79)
Lillian M. Fuller, MD, Houston, TX (R68)
Samuel T. Gerber, MD, Skokie, IL (R59)
Frederick R. Gilmore, MD, Girard, PA (R51)
Dwight W. Glenn, PhD, Adelphi, MD (R64)
Arthur D. Graham, MD, Colorado Springs, CO (R73)
N. Thorne Griscom, MD, Boston, MA (R68)
Jeng Y. Gu, MD, Sayre, PA (R74)
David A. Hager, MD, DVM, Cardiff, CA (R86)
Franz J. Hallermann, MD, Fair Oaks, TX (R69)
Robert L. Hamm, MD, Washington, DC (M84)
Loren E. Hart Jr, MD, Green Bay, WI (R57)
E. Ralph Heinz, MD, Chapel Hill, NC (M71)
Peter G. Herman, MD, Great Neck, NY (R77)
Martin W. Herman, PhD, Rancho Palos Verdes, CA (R79)
George Hermann, MD, Forest Hills, NY (M79)
Marvin L. Hinke, MD, Presque Isle, ME (R71)
Lynda L. Hon, MD, Huntsville, AL (R81)
John T. Hsu, MD, New York, NY (R83)
Ian Isherwood, MD, Cheshire, United Kingdom (H93)
Stephen A. Kanter, MD, Pasadena, CA (R70)
Carl M. Kaplan, MD, Boca Raton, FL (R73)
Iraj Khalkhali, MD, Rolling Hills, CA (R84)
William J. Kieffer, MD, Lakeland, FL (R65)
San S. Kim, MD, Corniny, NY (R85)
Frank W. Lane Jr, MD, Ormond Beach, FL (R57)
Michael Lane, MD, Carlsbad, CA (R04)
Marco M. Leonardi, MD, Bologna, Italy (R89)
Chun-Der L. Li, MD, Dallas, TX (G106)
Donald S. Linton, MD, Sanibel, FL (R68)
Marion F. Magalotti, MD, Riverside, IL (R49)
Sharon E. Meagher, MD, Chicago, IL (R91)
Dee L. Metcalf III, MD, Greeneville, TN (R72)
George C. Mok, MD, Windsor, Canada (R62)
James R. Monnahan, MD, Provo, UT (R61)
Eleanor D. Montague, MD, Houston, TX (R65)
Pablo L. Morales, MD, San Juan, PR (R56)
Yutaka Morita, MD, PhD, Hokkaido, Japan (R93)
Eileen Mullin, MD, San Jose, CA (R62)
Mathew L. Nickels, MD, Clovis, CA (R69)
Thomas F. O'Connor, MD, Sudbury, MA (R83)
Hernando G. Ortiz, MD, San Juan, PR (M79)
Enrique Pantoja, MD, Middletown, OH (R76)
Billy J. Parnell, MD, Dallas, TX (R65)
Cyrus W. Partington, MD, Colorado Springs, CO (R57)
Michael A. Prosin, MD, Scottsdale, AZ (R72)
Michael J. Rokoff, MD, La Jolla, CA (R74)
Richard A. Rosen, MD, Mount Vernon, NY (R80)
Harry Sassoon, MD, Huntington Beach, CA (R77)
William T. Shultz, MD, Mena, AR (R60)
Herschel H. Solomon, MD, San Francisco, CA (R82)
Lenny K. Tan, MD, Singapore, Singapore (H83)
Archibald W. Templeton, MD, Aiken, SC (R63)
June M. Unger, MD, Scottsdale, AZ (R64)
Merrill K. Winderman, MD, Long Beach, CA (R71)
Thomas A. Yeo, MD, Winnipeg, Canada (M70)
Lionel W. Young, MD, Loma Linda, CA (R75)

Financial Statements

The financial statements for the fiscal year ended June 30, 2019, 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, 2019. 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.

James P. Borgstede, MD
Secretary-Treasurer

Statement of Financial Position
June 30, 2019

Assets
Cash and Short-Term Investments	$11,733,302
Receivables and Other Current Assets	7,961,091
Long-Term Investments	139,790,729
Property, Furniture and Equipment	22,484,522
Total Assets	$181,969,644

Liabilities and Net Assets
Accounts Payable and Short-Term Debt	$6,810,282
Deferred Revenue	24,885,845
Other Long-Term Liabilities	225,387
Net Assets:
Unrestricted:
Undesignated	66,703,425
Designated-Research and Education Foundation	56,483,830
Restricted
Total without donor restrictions	123,187,255
With donor restrictions:
Purpose restrictions	26,860,875
Total net assets	150,048,130
Total Liabilities and Net Assets	$181,969,644

Statement of Activities
Year ending June 30, 2019

Revenue
Membership Services	$6,669,949
Publications and Educational Materials	14,518,350
Annual Scientific Assembly	28,102,105
Investment Earnings	4,232,986
Contributions	2,221,375
Total Revenue	$55,744,765

Expenses
Membership Services	$8,343,845
Publications and Educational Materials	18,395,168
Annual Scientific Assembly	17,656,210
Research and Education Foundation	5,306,253
Depreciation	1,668,337
Total Expenses	$51,369,813

Excess of operating revenue over operating expenses	$4,374,952
Federal and state income tax expense	(146,359)
Increase in net assets before unrealized gain (loss) on investments	$4,228,593
Unrealized gain (loss) on valuation of investments and interest rate swap	2,698,686

Increase in Net Assets	$6,927,279
Net Assets at beginning of year	$143,120,851
Net Assets at end of year	$150,048,130