ACR Fiscal Year (FY) 2022 Financial Report

The consolidated results represent the combined activities of the American College of Radiology and the American College of Radiology Association, collectively referred to as “ACR.”

Statement of Activities

The Statement of Activities is also known as the Income Statement or Profit & Loss. This financial statement provides a summary of financial performance over a period of time.

For the fiscal year ended June 30, 2022, the ACR had net assets of $180.3 million, revenue of $131.5 million, and expenses of $127.9 million.

The ACR is unique and fortunate that the organization has not experienced a downturn in financial performance due to ongoing COVID impacts. ACR has used the pandemic as an opportunity to innovate and consider strategic opportunities to advance the organization.

Over the course of the 2022 fiscal year, ACR had strong revenue.

  • Revenue growth in quality and safety programs and member dues demonstrates the value and importance of the ACR to our members, especially during uncertain times.
  • The pandemic provided new opportunities for research funding to create and support COVID-specific registries and trials.

Because of the ACR’s strong financial position both before and during the pandemic, the organization has been able to make decisions in a strategic and thoughtful way, rather than from a reactive stance. As a result of dedicated and sound fiscal stewardship, the ACR is well positioned to make the needed investments to continue to bring value to our membership.

Statement of Financial Position

The Statement of Financial Position provides a point-in-time snapshot of ACR’s overall financial health. This is also referred to as a Balance Sheet.


The ACR had net assets of $180.3 million in 2022.

ACR net assets over five years: $134.5 million in 2018, $139.1 million in 2019, $145.9 million in 2020, $203.1 million in 2021, and $180.3 million in 2022.

As of June 30, 2022:

  • Of the total $263M assets, $200M (76%) is related to cash and investments compared to $233M (80%) at the end of the prior fiscal year.
  • Over half (52%) of the total net assets were designated by the Board of Chancellors for the operating reserve, strategic reinvestment projects, and innovation awards.
  • Total net assets saw a decline of 13% year over year driven by investment losses as a result of market fluctuations. It is important to note that ACR’s current investment strategy includes a mix of equity and fixed income holdings which are meant to weather fluctuations. ACR does not rely on investments to fund operating activities.

Reimagining and Reinvesting for the Future

Key data points about ACR in 2022: we have 40,700 members, including 1,800 member who volunteer on 200 commissions, committees, task forces and micro-engagements. The ACR manages 90 research grants and contracts and is made up of 13 unique programs and departments.

 

As a membership organization, ACR supports over 40,000 members, some of whom volunteer to support a wide array of commissions, committees, and task forces that provide guidance and direction to the many programs provided by the ACR. The ACR is committed to reinvesting surpluses in initiatives and activities that support our strategic plan, and that secure the future of the ACR, the radiology community, our members, and the patients they serve.