Annual Report of SCCM Finances and Activities
David Julian Martin, CAE
CEO/Executive Vice-President
Society of Critical Care Medicine
It is again my pleasure to provide you with this annual report of the Society of Critical Care Medicine’s (SCCM) activities and finances. The organization experienced another excellent year, and it is with heartfelt thanks that I dedicate this column to our members, donors and supporters. Without all of you, none of this success would be possible.
The Society continues to follow a simple yet effective methodology for managing the organization’s business affairs. This approach has served the Society well, as represented by its continuously improving financial position and ability to respond rapidly and effectively when the need arises. The organization’s overall conservative financial practices, cost reduction and process improvement activities, coupled with strict compliance to Generally Accepted Accounting Principles, have resulted in significantly increased cash reserves and a strong balance sheet.
Revenues, predominantly from SCCM’s cornerstone activities (e.g., membership, Critical Care Congress, journals, and the Fundamental Critical Care Support program), are used to support a myriad of programs each year. Annually, the budget process seeks to allocate funds to cover direct program expenditures (such as printing, travel, etc.), which consume about 60% of operating revenues. It also seeks to cover staff salary and benefits (32%), with the remainder (8%) placed in reserve. Keeping this equation in balance requires regular monitoring and adjustments to ensure that the Society’s overall finances are strong.
As reported last year, revenues for fiscal year 2007 grew by 9.2% to $13.1 million. While we were very pleased with last year’s strong overall performance, we had reservations that a similar showing was possible for 2008 due to increasing regulatory issues coupled with the location of the 37th Critical Care Congress. However, 2008 operating revenues continued the cycle of annual growth and topped $14.3 million. Net revenue from operations reached $1.5 million before accounting for non-operating activities, such as investments and one-time costs related to the relocation of the SCCM headquarters.
While growth during the past seven years has been significant, we have been anticipating a more modest growth going forward. This projection is based on association benchmarks, our experience regarding sustainability, and recent changes in the global economic and regulatory environments that may have a negative impact on overall growth, at least in the near term.
SCCM Programs Continued to Expand and Thrive
The Society’s educational conferences remained the most notable activities of the year. The 37th Critical Care Congress in Hawaii attracted a record attendance of more than 6,000 and far surpassed its performance targets. The Society’s four additional conferences during the year also had strong attendance and industry support; all were very well received by participants. This year’s specialty events focused on mechanical ventilation, venous thromboembolism, nutrition, rapid response teams, and pain and sedation.
The Society’s journals, Critical Care Medicine and Pediatric Critical Care Medicine, also had a strong year, showing increased manuscript submission coupled with growth in circulation and advertising. Net revenues from the journals also significantly exceeded expectations.
The Fundamental Critical Care Support (FCCS) course also saw strong growth in 2008. The FCCS 4th edition textbook was completed at the end of fiscal 2007. This edition enhanced key messages with new or expanded sections on rapid response teams, respiratory care and mechanical ventilation. An additional investment was made to enhance the graphic design of the text and slides, making them more engaging. Course providers now are able to submit participant information online, allowing for faster and more accurate processing of participant certificates. The new fee structure provided increased flexibility that, when combined with the release of the 4th edition text, expanded FCCS revenues by 48% over the prior year, training more than 9,000 individuals worldwide.
Membership growth continued in 2008 and reached a new high mark of 14,000 during the year. This growth continued across the multiprofessional spectrum of SCCM member categories, and it was noted that a significant number of participants in SCCM conferences and other activities are joining the organization. This supports the organization’s philosophy that the more exposure an individual has to SCCM, the more likely he or she will become an active member and more fully participate in our mission to improve care for the critically ill and injured.
While there were many other SCCM programs and activities during 2008, they are too numerous to mention here. However, each was important in its own way in moving the Society forward in its mission.
All of these activities are possible because of a large and growing cadre of Creative Community in Critical Care members who volunteer their time to develop these programs to improve patient care. More than 700 individuals are now counted among this group of dedicated professionals. These activities are backed by individual and corporate financial supporters and a dedicated and growing professional staff at SCCM Headquarters. The Society has seen tremendous growth in programming, membership and financial status during the last eight years, for which we are very thankful.
This is your organization and all comments, thoughts and suggestions are appreciated. As we are fond of saying, “anytime is the right time for a great idea,” so do not hesitate to contact Society Headquarters or a member of your elected Council at your convenience. Contact information for all can be found on the SCCM Web site at www.sccm.org. Again, extend my thanks and best wishes for a safe and happy holiday season.
