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  • 2006 Report of the Secretary-Treasurer

  • I am pleased to report that the Society accepted 3,848 new members during the year 2006.

    We annually promote membership in our Society to new radiology residents and medical students. Through this year's promotional efforts 2,982 radiology residents and medical students joined the Society (1,444 new Members-in-Training, 1,073 new Corresponding Members-in-Training, 125 Fellows, and 338 Medical Students). We are pleased to see the 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 RA/RT* Totals
    2005 18,812 856 829 7,159 2,443 4 4,045 64 4,095 0 38,307
    2006  19,085  869  991  7,750  2,957  4  4,177  66  4,246  10  40,155 
    Net Difference 273 13 162 591 514 0 132 2 151 10 1,848

    *2006 new member category
    Radiologist Assistant/Radiologist Assistant-in-Training

    I regret to report the passing of the colleagues named below as of October 31, 2006. The Society mourns their deaths, comforted by the knowledge of their many devoted services to the health and well-being of the communities in which they practiced medicine.

    Deceased RSNA Members from 11/1/05 - 10/31/06
    R61 Harry C. Alfred, M.D. Panama City FL
    R53 Donald P. Babbitt, M.D. Hartford WI
    R72 Jose Paulino Badel, M.D. Los Angeles CA
    R54 John E. Ballard, M.D. San Angelo TX
    M76 Royal J. Bartrum Jr., M.D. Barre VT
    W72 Roger A. Bauman, M.D. Winchester MA
    R50 W. George Belanger, M.D. Grosse Pointe MI
    R52 Norman Emmanuel Berman, M.D. Shaker Heights OH
    R57 Frederick Ross Birkhill, M.D Dearborn MI
    C98 Martin J. Blomley, M.D. London United Kingdom
    R77 Manfred Boehnke, M.D. Divide CO
    M84 James A. Bradshaw, M.D. Jacksonville FL
    M78 Garry L. Carls, M.D. Edwardsville IL
    R67 Arnold Chait, M.D. Narberth PA
    R46 Stanley Birdsey Clark, M.D Fredonia NY
    R51 Thomas W. Crowell, M.D. Seattle WA
    M89 Jeanne Anne Cullinan, M.D Rochester NY
    R71 Robert L. Davis, M.D. Wadesboro NC
    R84 Robert B. Denman, M.D. Sugar Land TX
    R76 Jack I. Eisenman, M.D. Marina del Rey CA
    R54 Milton Elkin, M.D. Blue Hill ME
    R40 William Paul Elkin, M.D. Charleston WV
    R86 Peter Michael Ellis, M.D. Wolfville Nova Scotia Canada
    M60 Mary Stuart B. Fisher, M.D. Haddonfield NJ
    R56 John F. Gibbons, M.D. Scarborough ME
    R81 Burton M. Gold, M.D. Setauket NY
    M65 Henry C. Gorman, M.D Ellersbie GA
    R83 Patrick J. Grinsell, M.D. Modesto CA
    M79 Jorge R. Gutierrez, M.D. Tampa FL
    R55 John Hale, Ph.D. Denver CO
    W71 Paul B. Hoffer, M.D. North Haven CT
    M66 Michael Anton Jacobi, M.D. Manitowoc WI
    M70 Ray F. Kilcoyne, M.D. Denver CO
    R60 Eugene V. Leslie, M.D Williamsville NY
    H80 Erik Lindgren, M.D. Djursholm Sweden
    R66 Merle K. Loken, M.D. Buffalo MN
    M00 Edna Zaida Lopez Lopez, M.D. San Juan Puerto Rico
    R74 George R. Matthews, M.D. Reading PA
    R54 Richard Forrest McClure, M.D. Bonners Ferry ID
    M45 James J. McCort, M.D. Walnut Creek CA
    R66 John E. McEnroe, M.D. Petoskey MI
    M94 Samuel Wilton McFadden, M.D. Marion MA
    R80 John R. McLaren, M.D. Gainesville GA
    M82 Robert L. Meals, D.O. Bryn Mawr PA
    R66 Thomas F. Meaney, M.D. Englewood FL
    C99 Wolfgang Merdes, M.B.Ch.B. Windhoek Namibia
    R70 Donald F. Monty, M.D. Denver CO
    M96 Cyril S. Morgan, M.D. Saint Petersburg FL
    R51 Wylie H. Mullen Jr., M.D. Joliet IL
    R42 Philip Myers, M.D. Baltimore MD
    R54 Sidney W. Nelson, M.D. Issaquah WA
    R94 Doon O'Riordan, M.D. Rathmines Dublin Ireland
    M96 Masazumi Vince Okubo, M.D. Irvine CA
    R56 Anton M. Pantone, M.D. Poway CA
    R62 John G. Parrish Jr., M.D. Naples FL
    R75 William J. Peeples, M.D. Fort Myers FL
    M81 Hilton Wayne Pittman, M.D. Pensacola FL
    R92 Roger Alan Potish, M.D. Stillwater MN
    M97 Ted Larry Roeder, M.D. Metamora IL
    R66 George S. Rogers, M.D. Bryan TX
    R51 Frederick A. Rose, M.D. Bellingham WA
    R69 David D. Rosenfeld, M.D. Encino CA
    R58 Wallace Moffatt Roy, M.D. Oakville Ontario Canada
    R59 Donald Grant Russell, M.D. Bristol CT
    R57 Milton Segal, M.D. Saint Augustine FL
    R54 Edward Joseph Sennett, M.D. West Hartford CT
    R59 Truman S. Smith, M.D. North Port FL
    R63 Leo Stockland, M.D. Milwaukee WI
    C90 Oriol Torrent, M.D. Barcelona Spain
    R65 Shih Hao Tsai, M.D. Edina MN
    R84 Luong Chi Tuong, M.D. Newport Coast CA
    M99 Jeffrey Paul Turk, M.D. Moberly MO
    R60 Edward W. Webster, Ph.D. Bedford MA
    R42 C. Richard Weinberg, M.D. Delray Beach FL
    R60 George N. Weston Jr., M.D. Lafayette CA
    R56 Charles F. Whitney Jr., M.D. Batavia IL
    R61 William Donald Wilfong Jr., M.D. Bennettsville SC
    R71 Bynum McWhorter Works Jr., M.D. San Antonio TX
    M86 Nanda Yueh, M.D. Plymouth MN
     

    Financial Statements 

    The financial statements for the fiscal year ended June 30, 2006, 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. In addition, the Society's investment portfolios had positive returns. This is especially important for the Society's Research & Education Foundation, as its ability to fund grants is directly impacted by the return on investments. The continued financial growth of the Society has helped increase its reserves, which helps protect 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, 2006. The detailed audited report is kept on file at RSNA Headquarters: Radiological Society of North America, 820 Jorie Blvd, Oak Brook, IL 60523. It is available for review there by RSNA members.

    R. Gilbert Jost, M.D.
    Secretary-Treasurer
     

    Statement of Financial Position  
    June 30, 2006 
    ASSETS 
    Cash and Short-Term Investments $8,410,879
    Receivables and Other Current Assets 3,978,862
    Long-Term Investments 57,737,299
    Property, Furniture and Equipment 20,447,904
    Total Assets  $90,574,944  
      
    Liabilities and Fund Balance 
    Accounts Payable and Short-Term Debt $1,928,034
    Deferred Revenue 11,444,647
    Long-Term Debt and Other Long-Term Liabilities 10,468,094
    Net Assets:
      Unrestricted:
          Undesignated 27,846,697
          Designated-Research and Education Foundation 22,871,664
      Restricted:
          Temporarily restricted 2,998,832
          Permanently restricted 13,016,976
    Total net assets 66,734,169
    Total Liabilities and Net Assets  $90,574,944  
       
    Statement of Activities 
    Year ending June 30, 2006 
    REVENUES 
    Membership Services $4,612,750
    Publications and Educational Materials 10,737,639
    Annual Scientific Assembly 22,156,822
    Investment Earnings 4,797,351
    Contributions 1,863,399
    Total Revenues  $44,167,961  
     
    EXPENSES 
    Membership Services $3,422,064
    Publications and Educational Materials 13,874,647
    Annual Scientific Assembly 12,954,428
    Research and Education Foundation 2,615,129
    Depreciation 1,128,088
    Total Expenses  $33,994,356  
     
    Increase in net assets before unrealized gain (loss) on investments $10,173,605
    Unrealized gain (loss) on valuation of investments and interest rate swap -328,318
     
    Increase in Net Assets  $9,845,287  
    Net Assets at beginning of year   56,888,882 
    Net Assets at end of year  $66,734,169  

     

     Total_Revenue_pie_chart_2006.gif 

     Total_Expense_pie_chart_2006.gif 

    R. Gilbert Jost, M.D. Secretary-Treasurer