1. Siegel, Marvin RN, CRNI(R)
  2. INS Secretary-Treasurer

Article Content

The following speech was delivered at the INS Annual Meeting and Industrial Exhibition in Las Vegas, Nevada, April 30, 2012.

Figure. No caption a... - Click to enlarge in new windowFigure. No caption available.

Good morning. What a great day to be an INS member. It is terrific to see so many dedicated infusion professionals here in Las Vegas. On behalf of the INS Board of Directors, I would like to extend our gratitude to you for your dedication to INS and our specialty practice. Your commitment is critical to our success, and we are extremely grateful for your support.


It gives me great pleasure to report on the financial success enjoyed by INS in 2011.


Total revenues for 2011 came in just shy of $3.3 million, while expenses were $3.1 million, leaving INS with an increase of net assets of $178 831 before factoring in unrealized losses on investments. Once that was done, our total increase in net assets stood at $91 608.


The following are key components that contributed to INS' 2011 performance.



For the eighth consecutive year, INS experienced triple-digit growth in its membership rolls. We ended 2011 with a total membership number of 6922, which was an increase of 109 members from 2010.


We are pleased to report that INS membership dues remained at $90 in 2011. Despite the current economic challenges and during a time in which other organizations have routinely raised their membership dues, INS has chosen to keep membership dues constant. Our ability to keep a tight control on expenses while continuing to look at other revenue enhancements has enabled us to keep membership dues unchanged for the 15th consecutive year!



Meetings continue to be the leading revenue resource for INS, accounting for a net profit of $705 000 and 46% of all revenues. Changes in regulations surrounding sponsorships and commercial support have created a challenge for INS and many other not-for-profit organizations. Many of the sponsorships that we have relied on in the past are no longer available; however, we continue to provide our meeting attendees with the very best educational opportunities and a rewarding overall meeting experience.



The revisions to the Infusion Nursing Standards of Practice and Policies and Procedures for Infusion Nursing and the corresponding record number of sales of these resources helped lead the way to a $726 000 profit in this category. In addition, increases in advertising for both the print and electronic versions of the Journal of Infusion Nursing helped to add to the positive bottom line.



Infusion Educational Services (IES) experienced tremendous gains over the prior year and provided INS with a net revenue of $96 000. Much of this revenue was derived from the development and implementation of the INS Knowledge Center. Developed as a means to augment INS' existing live continuing education offerings, this online learning platform houses a wide variety of educational programming, content, and resources in 1 central location. It has been met with overwhelming praise by the INS membership.



Despite the volatility of the investment market, INS was able to contribute $300 000 to its reserves in 2011. Our long-term investment strategy, diversified portfolio, and excellent liquidity status leaves us well positioned for future contributions and growth.



As has been INS' custom over the past several years, a support grant in the amount of $120 000 was approved by the INS Board of Directors. We remain committed to the certification program and are happy to support it through this grant.


In conclusion, an independent accounting firm audited the INS financial statements for the year ending December 31, 2011, and issued a clean opinion.


Thank you.