The Education and Research Foundation (ERF) was incorporated in 1969 when the Society of Nuclear Medicine (SNM) decided to form a separately incorporated 501(c)3 organization to begin fundraising. The Board of Directors initially were members of the SNM Board of Directors.
In 1973 the ERF raised $10,317 and had assets of $11, 237. Four pilot research grants and two medical student fellowships were funded. By 1974 total assets were $21,921. Almost half of the donations received were from industry, which stated that more support by the membership would increase industry support.
ERF’s transformation began with a $1.25 million bequest in 1991 from the estate of Mary Wylie Cassen. Annual income from the Cassen Fund provided a $25,000 prize and a $25,000 basic science fellowship.
This growth resulted in the hiring of a part-time Administrative Director of the ERF in 1994. The Administrative Director managed all functions except financial services. As of June 2001, assets had grown to $3.145 million and several major projects were funded.
In 2003 ERF and SNM agreed to form a strategic alliance in order to foster better relations. Conditions included the restructuring of ERF to include the SNM Technologist Section (SNMTS) representation and a shared development office with grants & awards (other than Cassen) administered by SNM.
A second ERF growth spurt in 2006-2007 was due to a $6.7 million bequest from the Anger Estate.
The Foundation immediately gifted $300,000 to jump-start the SNM’s Bench to Bedside MI Campaign, the first-ever fundraising campaign for the Society.
By 2009 an ERF-SNM alliance update was needed. Due to growth in fundraising and grant administration, the ERF Board of Directors decided to hire an Executive Director. A joint ERF-SNM task force was appointed to re-establish efficient working relations. It was the beginning of the current ERF structure.
In June 2012, the members of The Society of Nuclear Medicine voted to change their name to The Society of Nuclear Medicine and Molecular Imaging (SNMMI). The Board of Directors of the ERF, following the Society's lead, subsequently approved a name change to The Education and Research Foundation for Nuclear Medicine and Molecular Imaging, Inc.