SCCM enjoyed another strong year of financial performance in fiscal 2019 with an overall net revenue of $995,000.
Finances
Net revenue from operations was $995,000 on $19.5 million in gross operating revenue. This strong result was primarily due to record attendance at the 2019 Critical Care Congress in San Diego. The SCCM Statement of Position (balance sheet) is strong with net assets of 31 million at fiscal year-end 2019. SCCM total assets reached $37.2 million of which $4.3 million is property and equipment (net of depreciation). The organization has no long-term debt.
Since its inception, SCCM has grown both programmatically and financially. Steady increases in membership and Congress attendance, as well as growth in all other programs drive dependable revenues. The Council and staff leadership employ a conservative financial approach putting aside resources into several reserve funds to support new program development and provide for emergency reserves should the need arise. Reserve funds grew to $24.6 million at the end of fiscal 2019.
Over the past five years, the Society has received over $2 million in grant support from private foundations and government agencies to support initiatives such as ICU Liberation, Surviving Sepsis Campaign, and Patient and Family Care. The Society has an approved indirect cost rate of 36% from the Department of Health and Human Services, which is used to substantiate claims for indirect costs under grants and contracts awarded by the federal government, government agencies, and private foundations.
Audited financial statements are available for public inspection by contacting SCCM’s Chief Financial Officer at bschramm@sccm.org or calling +1 847 827-6869.
WHY IT MATTERS
Responsible fiscal management ensures that SCCM sustains the financial resources to deliver the wealth of support and tools that help our members grow and thrive.
| Statement of Position All Funds September 30, 2019 | |
|---|---|
| ASSETS | |
| Current Assets | |
| Cash and Equivalents | 3,312,222 |
| Accounts Receivable | 566,179 |
| Due from Other Funds | - |
| Prepaid Expenses | 843,396 |
| Total Current Assets | 4,721,797 |
| Other Assets | |
| Investments | 28,058,321 |
| Fixed Assets (Net of Depreciation) | 4,375,452 |
| Deposits | 60,131 |
| Total Other Assets | 32,493,904 |
| TOTAL ASSETS | 37,215,701 |
| LIABILITIES AND NET ASSETS | |
| Liabilities | |
| Accounts Payable | 480,426 |
| Due to Other Funds | - |
| Accrued Expenses | 1,282,875 |
| Deferred Income | 3,898,149 |
| Clearing Accounts | 2,988 |
| Deferred Compensation | 557,118 |
| Total Liabilities | 6,221,557 |
| Net Assets | |
| General Operating Fund | 3,347,074 |
| Fixed Assets (Net of Depreciation) | 4,375,452 |
| Reserve Funds | 21,413,549 |
| Miscellaneous Temporarily Restricted | 1,688,864 |
| Sections | 169,205 |
| Total Net Assets | 30,994,144 |
| TOTAL LIABILITIES AND NET ASSETS | 37,215,701 |
How We Are Organized
SCCM’s activities and budgets are organized by categories, referred to as Business Lines. Each Business Line has defined focus and purpose.
Knowledge & Skills: Provide top-rated continuing education for trained critical care professionals to further advance their knowledge and skills.
Fundamentals: Increase the basic knowledge and skills of all individuals that may need to care for the critically ill patient.
Review and Assessment: Encourage healthcare providers to achieve certification in their fields by providing the highest quality educational offerings.
Research: Support, encourage and disseminate state-of-the art research (basic, translational, clinical-experimental, clinical-operational, outcomes, and health service delivery) in the field.
Membership: Encourage a multiprofessional team and expand the number of member-providers available to care for the critically ill and injured.
Patient & Family: Provide resources that assist critically ill and injured patients and their families.
Quality & Safety: Provide guidance and tools to encourage the most effective and efficient means of improving care.
Communications: Provide and encourage effective communication between SCCM and its stakeholders.
Governance/Organizational Affairs: Maintain an environment that embraces best practices of association management.
Total Revenue
- 36% Knowledge & Skills
- 23% Membership
- 7% Reserve Investments
- 13% Research
- 8% Review & Assessment
- 8% Fundamentals
- 5% Other
Total Expenses
- 24% Knowledge & Skills
- 12% Membership
- 28% General Administrative
- 9% Research
- 8% Governance
- 6% Review & Assessment
- 6% Quality & Safety
- 13% Other