ACEP is a membership organization. As such, members have a right to know its financial status. The following is a fair and accurate representation of the status of the College for the 2014–2015 fiscal year (July 1, 2014, through June 30, 2015). This is the first time this data has been published.
Membership continues to grow. As of June 30, 2015, the College had 34,049 members, of whom 21,083 were active (regular) and 10,261 were candidate members. This represents a 2.9 percent overall increase, with a 1.4 percent growth in active and 7.8 percent growth in candidate members.
The majority of the College’s assets are in cash and investments. Current liabilities are mainly deferred revenue. Equity then stands as $16,956,000, which has grown by $1,121,000 since the previous fiscal year. This buildup in equity will allow the College to reinvest in its members. It will be applied to the new headquarters, which will give the ACEP staff the space it requires and provide areas for meetings that otherwise would need to be held off-site. Our finances will also allow us to further develop other benefits for our members such as our qualified clinical data registry, CEDR, and explore a national electronic network that will enhance care coordination, promote quality care, and help control health care costs.
Revenue for the fiscal year was more than $33 million, with the majority coming from three activities: dues, ACEP14, and Annals of Emergency Medicine. When looking at expenses by line of service, the majority is spent on education and member services. For the year, the net income was $1,973,000, of which 60 percent went to equity and 40 percent to staff bonuses.
In short, the College is strong financially, membership and equity continue to grow, and we have sufficient funds for high-cost projects that will be a significant benefit to our members.
View the full financial report here (ACEP login required).
Dr. Rogers is ACEP’s current Vice President and its immediate past Secretary-Treasurer.