2017 Secretary-Treasurer report

Dr. Vijay Rao, MD
Vijay M. Rao, MD
Secretary-Treasurer
I am pleased to report that RSNA membership is holding steady. In FY 2016-2017, the Society accepted 6,267 new members.

We annually promote membership in our Society to new radiology residents and medical students. Through this year's promotional efforts 4,639 radiology residents and medical students joined the RSNA (1,341 new Members-in-training, 2,170 new Corresponding Members-in-training, 364 Fellows, and 764 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 and myRSNA, 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
16-17
19,154
1,830
1,997
10,729
8,588
5,743
69  6,503
54,613
FY
15-16
19,589
1,837
 1,840
10,676
8,738 
5,466
66
6,648
54,860

Deceased RSNA Members from 11/1/16 - 10/31/17  

Michael D. Arsenault, DO, MA, Dearborn, MI (M00)
Alton J. Backs, MD, South Bend, IN (R75)
Richard L. Baron, MD, Chicago, IL (M78)
Edward A. Behnke, MD, Whittier, CA (R67)
Kelvin K. Belcher, MD, Houston, TX (M03)
Avi Ben-Ora, MD, San Francisco, CA (R74)
Gordon L. Black, MD, El Paso, TX (R84)
Erik Boijsen, MD, Lund, Sweden (H81)
Johan P. Bonk, MD, Hampstead, NC (R60)
Ernst Brauchle, MD, Achim, Germany (R87)
Ray A. Brinker, MD, Toledo, OH (R67)
Denis V. Campbell, MD, Tucson, AZ (R77)
Victor Carlson, MD, Houston, TX (R70)
Helen Carty, MBBCh, Liverpool, United Kingdom (H01)
Thomas W. Challis, MD, Kingston, ON, Canada (R65)
Zachary J. Clark, MD, MS, Madison, WI (T14)
David O. Cosgrove, MBBCh, FRCR, London, United Kingdom (R99)
Richard L. Cowen, MD, Charleston, WV (R66)
James D. Curry, MD, Mansfield, OH (R73)
Glenn V. Dalrymple, MD, Omaha, NE (R71)
Jack J. Davis, MD, Huntsville, UT (R53)
Arthur De Schepper, MD, PhD, Edegem, Belgium (R87)
Owen W. Doyle, MD, Greensboro, NC (R55)
Paul L. Dratch, MD, Cambridge, MA (M93)
Nabil N. Elgindy Sr, MBChB, Jarfalla, Stockholm, Sweden (M14)
Irwin M. Freundlich, MD, Tucson, AZ (R65)
Richard M. Friedenberg, MD, Santa Ana, CA (R63)
Paul J. Friedman, MD, San Diego, CA (R83)
Karl A. Glastad, MD, Heath, TX (M85)
Charles M. Greenwald, MD, Olmsted Falls, OH (R56)
James E. Harrell, MD, Houston, TX (R67)
Atsuko Heshiki, MD, Maebashi, Gunma, Japan (M83)
Irwin Hirshberg, MD, Cresskill, NJ (R67)
A. Everette James Jr, MD, Chapel Hill, NC (R67)
Marvin W. Johnson, MD, Rochester, MN (R72)
Richard W. Katzberg, MD, Clinton, SC (M76)
Francis M. Kelley, MD, Coral Gables, FL (R68)
James G. Kereiakes, PhD, Cincinnati, OH (R67)
Alois Knopp, MD, Sandhausen, Germany (R78)
Elinor S. Kron, MD, Bloomfield, CT (R73)
Evert E. Kuester, MD, Lodi, CA (R70)
David E. Kuhl, MD, Ann Arbor, MI (R64)
Eva M. Lebelo, MBChB, Pretoria, Gauteng, South Africa (G14)
Seymour H. Levitt, MD, Thousand Oaks, CA (RP62)
Kenneth W. Mackie, MD, Kingston, ON, Canada (R81)
H. Lynn Magill, MD, Germantown, TN (M81)
Andrew K. Martinolich Jr, MD, Bay Saint Louis, MS (R72)
Edward N. Maxwell, MD, Louisville, KY (R52)
William M. McCormack, MD, Bowling Green, KY (R73)
Charles E. McKay Jr, MD, Huntington, WV (R54)
Robert McLelland, MD, Durham, NC (R56)
Mark H. Miller, MD, Irvine, CA (M17)
Jonathan H. Miller, MD, Buffalo, NY (R79)
Mark M. Mishkin, MD, Philadelphia, PA (R64)
Dan Mitchell Jr, MD, Enid, OK (R65)
James R. Nellen, MD, Greendale, WI (R64)
William E. Painter, MD, Lynchburg, VA (R64)
Nargis S. Patel, MD, Chicago, IL (R83)
Charles E. Pavlik, MD, Palm Beach, FL (R63)
John F. Popken Jr, MD, Cincinnati, OH (R61)
Thurmond H. Pryor, MD, Miami, FL (R60)
Dale L. Roberson, MD, Cedar Rapids, IA (R73)
James M. Rodda, MD, Carmel, CA (R75)
Paul J. Roesler, MD, Colorado Springs, CO (R62)
David J. Rosenblum, MD, Reno, NV (R68)
James B. Rubenstein, MD, New York, NY (M80)
Sylvan H. Sarasohn, MD, Miami, FL (R63)
James H. Scatliff, MD, Chapel Hill, NC (R61)
Murry D. Schonfeld, MD, Newport Beach, CA (R62)
Roberto Seltzer, MD, CABA, Argentina (R87)
Charles M. Silverstein, MD, Atlanta, GA (R66)
Robert C. Stadalnik, MD, Gold River, CA (R70)
James R. Standen, MD, Tucson, AZ (R83)
Adele Swenson, Kindred, ND (H76)
William C. Thompson III, MD, Scottsdale, AZ (R72)
John R. Thornbury, MD, Louisville, CO (R64)
Arkom Tivorsak, MD, Atchison, KS (M79)
Sidney P. Traub, MD, Oklahoma City, OK (R58)
Renato Travelli, MD, La Crosse, WI (R69)
Rudolph W. Varesko, MD, Macomb, IL (M04)
Donald Q. Vining, MD, Naples, FL (R75)
Michael J. Wallace, MD, Bellaire, TX (M91)
William A. Weidner, MD, Prescott, AZ (R63)
Peter N. T. Wells, DSc, North Somerset, United Kingdom (R85)
Edward J. Wickman, MD, Mesa, AZ (R04)
Mary J. Wood, MD, Greenwood, LA (R77)
Jonathan J. Yobbagy, MD, Mesa, AZ (R75)
Jerome Zwanger, MD, Massapequa Park, NY (R73)

Financial Statements

The financial statements for the fiscal year ended June 30, 2017, 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, 2017. 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, 2017
Assets
 
Cash and Short-Term Investments
$11,034,942
Receivables and Other Current Assets
$7,889,790
Long-Term Receivable 
$7,206
Long-Term Investments  
$128,129,652
Property, Furniture and Equipment
$23,191,054
Total Assets
$170,262,644


Liabilities and Net Assets
 
Accounts Payable and Short-Term Debt
$6,450,034  
Deferred Revenue
$23,845,178
Long-Term Debt and Other Long-Term Liabilities
$361,341
Net Assets:
 
Unrestricted:

Undesignated
$62,693,277
Designated-Research and Education Foundation
$50,899,511
Restricted  
Temporarily restricted
$2,398,327
Permanently restricted
$23,614,976
Total net assets
$139,606,091
Total Liabilities and Net Assets
$170,262,644
Statement of Activities
Year ending June 30, 2017
Revenue
 
Membership Services
$6,299,483
Publications and Educational Materials
$13,478,620
Annual Scientific Assembly
$25,549,883
Investment Earnings
$3,909,105
Contributions
$2,605,355
Total Revenue
$51,842,446


Expenses
 
Membership Services
$7,796,365
Publications and Educational Materials
$16,779,794
Annual Scientific Assembly
$16,879,276
Research and Education Foundation
$5,690,342
Depreciation
$1,434,771
Total Expenses
$48,580,548


Excess of operating revenue over operating expenses
$3,261,898
Federal and state income tax expense
($118,965)
Non operating income
($331,313)
Increase in net assets before unrealized gain (loss) on investments
$2,811,620
Unrealized gain (loss) on valuation of investments and interest rate swap
$5,152,031


Increase in Net Assets
$7,963,651
Net Assets at beginning of year
$131,642,440
Net Assets at end of year
$139,606,091
total-expenses
total-expenses