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  • 2007 Report of the Secretary-Treasurer

  • I am pleased to report that the Society accepted 3,318 new members during the year 2007.

    We annually promote membership in our Society to new radiology residents and medical students. Through this year's promotional efforts 2,455 radiology residents and medical students joined the Society (1,139 new Members-in-Training, 870 new Corresponding Members-in-Training, 109 Fellows, and 337 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
    2006 19,085 869 991 7,750 2,957 4 4,177 66 4,246 10 40,155
    2007  19,440  811  1,082  8,014  3,183  4  4,292  64  4,385  24  41,299 
    Net Difference 355 -58 91 264 226 0 115 -2 139 14 1,144

    I regret to report the passing of the colleagues named below as of October 31, 2007. 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 11/1/06 - 10/31/07

    Saroja Adusumilli, M.D., Ann Arbor, MI (M03)
    Thomas D. Allison, M.D., Lima, OH (R51)
    Stephen G. Babel, M.D., Albuquerque, NM (M84)
    John F. Bacon, M.D., Santa Rosa, CA (R47)
    Maurice L. Bogdonoff, M.D., Wheaton, IL (R60)
    Reynold F. Brown, M.D., Alamo, CA (R59)
    Charles J. Buhrow, M.D., Oceanside, CA (R60)
    Angus J. Campbell, M.D., Halifax, NS Canada (R72)
    John A. Campbell, M.D, Los Angeles, CA (R43)
    Rosauro A. Castillo, M.D., Pinellas Park, FL (R66)
    Hon Chong Chang, M.D., Honolulu, HI (R48)
    Jen Hung Chao, M.D., Elmhurst, IL (R64)
    William C. Conrad III, M.D., Columbus, OH (M05)
    Dean C. Cooper, M.D., Punta Gorda, FL (R51)
    Leon J. Corbin, M.D., Douglaston, NY (R71)
    Thomas P. Cotter, M.D., Riverside, CA (R59)
    Carlo A. Cuccia, M.D., Delray Beach, FL (R68)
    Patsy Desimone, M.D., Pasadena, CA (M88)
    Peter A. Diemer, M.D., Saint Louis, MO (R65)
    Glen D. Dobben, M.D., Michigan City, IN (R75)
    James F. Dougherty, M.D., Sea Girt, NJ (R76)
    Joseph J. Drugay, M.D., Tucson, AZ (R69)
    Howard B. Eisen, M.D., Pittsburgh, PA (R67)
    Louis D. Ellis, D.O., Cherry Hill, NJ (R72)
    Thomas V. Finley, M.D., Spokane, WA (R84)
    Gerhardt R. Fitz, D.O., Rodney, MI (R73)
    Edward E. Fong, M.D., Martinez, CA (R42)
    Morton G. Fried, M.D., Margate City, NJ (R85)
    Gerold F. Garrett, M.D., Mukilteo, WA (R73)
    Eugene Gedgaudas, M.D., Jupiter, FL (R68)
    Raziel Gershater, M.D., Toronto, ON Canada (M85)
    Barnard Hall, M.D., Saint Paul, MN (R52)
    Bernard Halper, M.D., Scottsdale, AZ (R54)
    Robert W. Hanf, M.D., Kennewick, WA (R68)
    Raymond W. Hartwig, M.D., Shawnee Mission, KS (R71)
    Homer V. Hartzell, M.D., Kihei, HI (R41)
    Raymond F. Healey, M.D., New York, NY (R62)
    Charles R. Henkelmann, M.D., Bonita, CA (R73)
    Mortimer B. Hermel, M.D., Palm Beach Gardens, FL (R49)
    Clarence T. Hill, Jr., M.D., Ponca City, OK (R66)
    Hal R. Hirleman, M.D., Cedar Rapids, IA (R50)
    Fred J. Hodges III, M.D., Saint Louis, MO (R84)
    Jerry C. Holton, M.D., Little Rock, AR (R73)
    Janice L. Huffman, M.D., Toronto, ON Canada (R71)
    Rolf M. Iverson, M.D., Sunset, SC (R44)
    Henry L. Jaffe, M.D., Rancho Mirage, CA (R45)
    Charles K. Jenkins, M.D., Houston, TX (M86)
    Thomas H. Johnson, Jr., M.D., Oklahoma City, OK (M65)
    John C. Jowett, M.D., Orlando, FL (R58)
    Karl F. Kesmodel, Jr., M.D., Birmingham, AL (R52)
    Ilmar O. Kiesel, M.D., Beaverton, OR (R62)
    Eugene F. Kralicek, M.D., Saint Paul, MN (R84)
    Alex Krinker, M.D., Aventura, FL (A05)
    Joseph F. Linsman, M.D., Los Angeles, CA (R44)
    Josef A. Lissner, M.D., Munich, Germany (H90)
    Leonidas R. Littleton, Jr., M.D., Winston-Salem, NC (R57)
    Gunnar B. Lund, M.D., New Market, MD (M95)
    Edward S. Magnus, M.D., Barrington Hills, IL (R83)
    Charles K. Mahaffey, M.D., Danville, KY (R61)
    Max W. Mattes, M.D., West Lafayette, IN (R57)
    Paul M. Meadows, M.D., Dover, DE (R59)
    Jarrell E. Miller, M.D., Dallas, TX (R48)
    Tom R. Miller, M.D., Ph.D., Saint Louis, MO (M78)
    Joseph A. Moriarty, M.D., Lanesboro, MA (M00)
    James S. Myers, Jr., M.D., Dalton, GA (R72)
    Saravanan Namasivayam, M.D., D.N.B., Boston, MA (G02)
    Robert A. Nebesar, M.D., Canton, MA (R65)
    Paul F. New, M.D., Marblehead, MA (R65)
    Abraham J. Nicholas, M.D., Shreveport, LA (R58)
    Bjorn E. Nordenstrom, M.D., Ronninge, Sweden (H93)
    David G. Ostrolenk, M.D., New York, NY (R61)
    Arthur L. Ovregaard, M.D., Corvallis, OR (R56)
    Saul L. Parks, M.D., Coronado, CA (R49)
    Dennis D. Patton, M.D., Oakland, CA (R73)
    Elmer C. Paulson, M.D., Saint Paul, MN (R52)
    Bertram L. Pear, M.D., Denver, CO (R58)
    Carrell A. Peterson, M.D., Oakland, CA (R50)
    Charles R. Porter, D.O., Pontiac, IL (R79)
    J. Richard Raines, M.D., Portland, OR (R49)
    Bhaskara K. Rao, M.D., M.S., Chicago, IL (M78)
    Warren E. Richard, M.D., Hastings, NE (R53)
    Paul A. Riemenschneider, M.D., Santa Barbara, CA (R51)
    Albert F. Rocco, M.D., Greenville, RI (R73)
    James V. Rogers, Jr., M.D., Oldsmar, FL (R54)
    Seyed A. Rooholamini, M.D., Granada Hills, CA (M86)
    Eugene L. Saenger, M.D., Cincinnati, OH (M48)
    Ferdinand A. Salzman, M.D., Walnut Creek, CA (R55)
    Bernard F. Sams, M.D., Louisville, KY (R71)
    Nikolaus Schad, M.D., Passau, Germany (R75)
    Scott J. Schulte, M.D., Seattle, WA (M90)
    William B. Shelton, M.D., Lufkin, TX (R77)
    George W. Smith, Jr., M.D., West Columbia, SC (R50)
    Julius Smith, M.D., New York, NY (R78)
    Elmer E. Stickley, Ph.D., Mechanicsville, VA (R52)
    Walter L. Stilson, M.D., Loma Linda, CA (R40)
    Joseph Tabrisky, M.D., Rancho Palos Verdes, CA (R66)
    J. George Teplick, M.D., Philadelphia, PA (R52)
    William N. Thomas, Jr., M.D., McLean, VA (R51)
    Jay M. Veenendaal, M.D., Redkey, IN (R83)
    Oliver H. Vreeland, M.D., Forest Grove, OR (R60)
    Chiu-Chen Wang, M.D., Lincoln, MA (R60)
    Jeffrey P. Weiss, M.D., Philadelphia, PA (M98)
    Charles W. Werley, M.D., Bethlehem, PA (R51)
    Kenneth H. White, Jr., M.D., Farmington, CT (R67)
    Audrey L. Wilson, M.D., Ponte Vedra Beach, FL (R50)
    David M. Witten, M.D., Columbia, MO (R62)
    Henry W. Wood, M.D., Norfolk, VA (R51)
    Heber E. Yeagley, M.D., Wexford, PA (R61)
    Gerhard Zechner, M.D., Klagenfurt, Austria (R82)
    Alvin A. Zeman, M.D., Elgin, IL (R48)
    William J. Zontine, D.V.M., Vista, CA (R55)

    Financial Statements

    The financial statements for the fiscal year ended June 30, 2007, 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.

    Wolf & Company LLP completed its annual audit of the Society's financial statements issuing an unqualified opinion, indicating that Wolf & Company LLP found no material differences to the financial information presented in the Society's year-end financial statements. In addition, Wolf & Company 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 Wolf & Company LLP, as of June 30, 2007. 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.

    Theresa C. McLoud, M.D.
    Secretary-Treasurer

    Statement of Financial Position  
    June 30, 2007 
    ASSETS 
    Cash and Short-Term Investments $6,103,185
    Receivables and Other Current Assets 4,151,171
    Long-Term Investments 70,420,475
    Property, Furniture and Equipment 23,045,433
    Total Assets  $103,720,264  
     
    Liabilities and Fund Balance 
    Accounts Payable and Short-Term Debt $1,938,135
    Deferred Revenue 11,517,855
    Long-Term Debt and Other Long-Term Liabilities 9,589,629
    Net Assets:
      Unrestricted:
          Undesignated 35,030,062
          Designated-Research and Education Foundation 27,556,466
      Restricted:
          Temporarily restricted 4,241,141
          Permanently restricted 13,846,976
    Total net assets 80,674,645
    Total Liabilities and Net Assets  $103,720,264  
     
     
    Statement of Activities 
    Year ending June 30, 2007 
    REVENUES 
    Membership Services $4,350,169
    Publications and Educational Materials 11,034,899
    Annual Scientific Assembly 23,961,123
    Investment Earnings 6,058,620
    Contributions 2,245,098
    Total Revenues  $47,649,909  
     
    EXPENSES 
    Membership Services $4,149,760
    Publications and Educational Materials 14,876,747
    Annual Scientific Assembly 13,945,719
    Research and Education Foundation 2,784,306
    Depreciation 922,107
    Total Expenses  $36,678,639  

     Total_Revenue_pie_chart_2007.gif 

     Total_Expense_pie_chart_2007.gif 

    Theresa C. McLoud, M.D. Secretary-Treasurer