William D. Owens, M.D., President
Anesthesia Foundation

he Anesthesia Foundation is now celebrating its 50th year of providing low-interest loans to ASA resident members and providing funds to encourage the development of educational material for all anesthesiologists regardless of where they are in the life cycle of continuing education. This past year, unfortunately, also provided an opportunity for the Anesthesia Foundation to provide financial help to some of our colleagues who were devastated by Hurricane Katrina. The details of the efforts of the Anesthesia Foundation and ASA are documented in the report of the task force to the ASA Board of Directors in August. In essence the Anesthesia Foundation gave $2,500, based on documented need as determined by Internal Revenue Service guidelines, to each resident in training who was adversely affected by Hurricane Katrina. In addition the Foundation made additional monies available to all affected residents in the form of low-interest loans.

The Anesthesia Memorial Foundation began in 1956 as a tax-exempt organization affiliated with ASA. It was established by officers of ASA and their legal counsel to “aid in the improvement and advancement of anesthesia …” and as a recipient organization for those who wanted to memorialize anesthesiologists. The articles of incorporation of the Foundation stated that one of the Foundation’s aims was to “loan or give money to deserving persons to assist them in becoming specialists in anesthesia or for research or study in the field of anesthesia or related fields … .” The initial funds came from a contribution from the Ohio Society of Anesthesiologists and a loan, again, based on documented need, from ASA that was later converted to a grant.

The name was changed in 1984 to the Anesthesia Foundation when the incorporation address was changed from Ohio to Illinois. Between 1956 and the first quarter of 2006, the Anesthesia Foundation granted 899 loans to 723 individuals for a total of $3,529,400. The recipients represent every state that has (or had) an anesthesiology residency program. As of March 31, 2006, there was $723,675 in outstanding loans. The market value of investments was $269,974, and the cash on deposit was $419,753, most of which had already been committed to approved loans. In essence the Anesthesia Foundation recirculates all the monies that are repaid on loans, and the assets increase only by loan interest income, investment income and gifts from individuals, component societies and industry. As the assets increase, the Foundation increases the number of loans that can be granted in each quarter of the year. Currently there are 12 loans granted per quarter, and the Board of Trustees of the Anesthesia Foundation expects that number to go up later this year or in 2007 if contributions and investment income increase as expected.

The members of the Board of Trustees of the Anesthesia Foundation and the resident members of ASA certainly appreciate the generosity that has made the aims of the Anesthesia Foundation a reality. We look forward to many more years of helping those in need.

William D. Owens, M.D., is Professor Emeritus of Anesthesiology, Washington University School of Medicine, St. Louis, Missouri. He was ASA President in 1998.