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ACR Fiscal Year (FY) 2024 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.
ACR continues to be financially strong. FY 2024 results reflect a planned budgeted surplus with continued implementation of the 2021 strategic plan.
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.
As of June 30, 2024:
- Of the total $291.8M assets, $220.6M (76%) is related to cash and investments compared to $204.7M (75%) at the end of the prior fiscal year.
- Less than half (44%) of the total net assets are designated by the Board of Chancellors for the operating reserve and spending policy projects. The Board of Chancellors designated the operating reserve fund to mitigate the impact of unexpected or undesirable events and provide financial flexibility to pursue opportunities of strategic importance. The spending policy designation is a primary source of non-operating funding for strategic and technology investments that are time-bound and one-time in nature.
- Total net assets saw an increase of 13.6% year -over-year driven by investment performance. It is important to note that ACR’s long-term investment strategy includes a diversified mix of holdings which are meant to optimize returns, mitigate market volatility, and hedge against inflation. ACR does not rely on investments to fund operating activities.