March 2022

 Treasurer's Update 

David Skaggs, MD

As we reflect on 2021, I am pleased to report that the SRS remains in good financial health. In early 2021, the Board of Directors approved an anticipated budget, which was considered “break even.” Through conservative planning and the return to some in-person events, SRS expects to close the year with a roughly $500,000 gain. The exact amount will not be finalized until after the 2021 audit has been completed later this year. 

In 2021, SRS’s investment accounts continued to perform well. As Treasurer, the performance of our investment accounts, as well as the fees associated with managing these accounts, are something that I continue to watch and evaluate with the other members of the leadership and the SRS staff.

Earlier this year, the SRS Board of Directors reviewed and approved a 2022 budget with an anticipated profit of approximately $170,000. This amount is greatly affected by attendance at IMAST (April 6-9 – Registration is still open!) and the Annual Meeting (September 14-17 in Stockholm). January also saw the return of $492,000 from the InterContinental Athenaeum Athens for the cancellation of the 2020 IMAST. These funds were accounted for in 2020 and have been considered a receivable since that time. Second, SRS received 

As you all know, donations to our Society help ensure its financial health and future. In 2021, SRS received $206,974 in donations, including a $92,000 estate donation from a former patient. As you may have seen, SRS was the recipient of another substantial estate donation by a patient. Mary Ellen Northrop, through her estate, donated $3 million to be used to fund research focused on causes, new and improved methods of treatment for, and potential cures for, idiopathic scoliosis. Read the full news release here. 

I look forward to seeing you all in Miami and Stockholm and providing a final 2021 report and updated on our 2022 progress during the Business Meeting in September.