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INS remained financially strong in 1999. Results of the 1999 audit show revenues of two million sixty-eight thousand dollars ($2,068,000) and expenses of two million, one hundred eighty-four thousand dollars ($2,184,000), resulting in a decrease in net assets from operations of one hundred sixteen thousand dollars ($116,000). Total revenues decreased by 11% over 1998, primarily due to lower investment income and fewer corporate sponsorships. Membership revenue decreased by 6% over 1998, representing a decrease of 374 members. Included in expenses was an initial grant to the Intravenous Nurses Certification Corporation in the amount of one hundred forty thousand dollars ($140,000). Despite this additional expense, INS was able to decrease overall expenses by 1% over 1998 through ongoing cost containment.


Expanded educational programming and rising attendance at National Meetings in 1999 contributed to the Society's goal of growth. Total 1999 meeting attendance increased by 16.5% over 1998. Two highly successful one-day education programs were presented during the year. The first, "Advanced Concepts in the Management of Central Venous Access Devices in the Alternate Care Setting," was made possible by an educational grant from Abbott Laboratories. This meeting, attended by 200 participants, was held in conjunction with the American Society of Health-System Pharmacists (ASHP) Home, Hospice and Long-Term Care '99 Meeting in Chicago. An educational grant from Bayer funded the second program, "Intravenous Immunoglobulin: Clinical Indications and Use of IVIG." This program was held in conjunction with the INS Fall National Academy in Boston, and had more than 360 people in attendance. The 1999 Fall National Academy drew a record 665 attendees, which represented a 55% increase over the attendance in 1998. In addition, booth space sales increased by 200%. Registration revenue for the 1999 Annual Meeting in Charlotte decreased by 3.4% from the prior year, contributing to a decrease of 8.5% in net income from 1998. Approximately 63% of total education revenue came from meeting registrations and 37% from exhibit sales and sponsorships.


Publications experienced a 28% increase in revenue over 1998 due in large part to a continuing medical education grant from Abbott Laboratories for publication of the November/December Journal of Intravenous Nursing supplement. INS also published the PICC Education Module in May and sold 59 copies during the year. In addition, the Society received grants from BD for the next revision of the Intravenous Nursing Standards of Practice, which is slated for publication in late 2000, and for participation in the Decislv Competency Based Education Program. Royalty income from the Journal of Intravenous Nursing increased by seven thousand dollars ($7,000) owing to an increase in subscribers. Lastly, supplemental income was received from the sale of two hundred twenty (220) copies of the INS textbook Intravenous Therapy: Clinical Principles and Practice.


Investment income decreased significantly from 1998. This was due in large part to a decrease in the sale of investments. The actions of the Society remain in compliance with the investment asset distribution defined in the investment policy approved by the Board of Directors in 1998.


Strong financial controls remained in place throughout the year, resulting in a 1% decrease in operating expenses. During the year, the Society paid the final legal costs associated with the termination of its former Chief Executive Officer in the amount of thirty-seven thousand dollars ($37,000). If not for this disbursement, operating expenses would have decreased another 2%.


Lastly, the Society continued its fundraising efforts on behalf of the Gardner Foundation. Fund assets totaled ninety-seven thousand dollars ($97,000) at the end of 1999. Revenue for the year amounted to forty-seven thousand dollars ($47,000) with expenditures of thirty-two thousand dollars ($32,000).


In conclusion, an independent accounting firm audited the INS financial statements and issued a clean opinion.



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