While still lagging behind its totals from pre-recession years, the American Medical Association recorded a profit of $23.9 million for 2010, up 44.8% from 2009, according to the association's annual report. It was the AMA's 11-straight year of operating profits and the second consecutive year of growth after profits plummeted almost 89.8% in 2008 to $2.5 million from $24.4 million in 2007.
Late News: AMA's profits jump nearly 45% from '09, report says
The AMA annual report includes the organization's for-profit operations, and it usually differs widely from its Internal Revenue Service Form 990, which provides details on not-for-profit operations only and showed a $13.7 million loss in 2009. The increase in profit was not gleaned from any one major source. Revenue from membership dues declined 9.9% to $38.1 million from $42.3 million in 2009. But advertising income from AMA publications was up 12.4% to $26.3 million from $23.4 million. Income from “royalties and credentialing products” increased 8.4% to $72 million from $66.4 million. The report notes that some $6.5 million in costs were not included last year because of a 2009 “restructuring program” that included one-time severance and other related benefit costs. In line with a number reported previously by Modern Healthcare, AMA membership is listed at approximately 216,000, a 5.3% drop from the 228,000 listed in the 2009 annual report.
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