Treasurer's Annual Report

I am pleased to present the Treasurer’s Annual Report for the American Society for Radiation Oncology (ASTRO) for the fiscal year ending December 31, 2024. This report highlights the organization’s financial performance and strategic outcomes during the past year. Despite modest challenges in operating performance, ASTRO maintained a strong overall financial position, ending the year with solid investment gains and healthy net assets.

As of December 31, 2024, ASTRO’s total assets were $52.5 million, reflecting minimal change compared to the prior year. Total liabilities decreased significantly by $3.3 million, bringing the year-end total to $8.5 million. These changes resulted in a net asset balance of $44 million, an increase of $3.3 million year-over-year.

The largest component of ASTRO’s total assets was its long-term investment portfolio, which ended the year with a balance of $45.2 million. The portfolio delivered strong net investment earnings of 11.4%, exceeding the policy benchmark of 11.1%. This outperformance reflects prudent investment management and a well-diversified asset allocation strategy. The positive investment returns contributed significantly to ASTRO’s overall financial stability and will continue to support future initiatives and strategic priorities.

Operating revenue for the year totaled $23.7 million. Primary sources of revenue included educational programs at $13.3 million (56%), membership dues at $4.5 million (19%), and journal income at $3.1 million (13%). Operating expenses totaled $25.4 million. Of that, 76% was allocated to Program services, followed by 18% to management and general expenses, 6% to board and committee activities.

ASTRO received an unmodified, or clean, audit opinion on its consolidated financial statements. Management met all of its financial responsibilities, and the auditors confirmed full compliance with accounting standards and best practices.

Looking ahead, ASTRO is well-positioned for continued financial sustainability. Strategic priorities for the coming year include diversifying revenue streams, managing operational costs, and investing in mission-driven programs that deliver long-term value to members and the broader oncology community.