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Massachusetts Chess Association |
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Balance Sheet |
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As of June 30th 2002 |
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ASSETS: |
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Cash in savings, Citizens Bank, N.H. |
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$19,194.07 |
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General Fund |
$6,520.34 |
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Life Membership Fund |
$4,592.05 |
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Future Year Membership Fund |
$275.00 |
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Living Memorial Chess Fund |
$3,009.96 |
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Comeau Fund |
$842.59 |
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Hurvitz Fund, Principal |
$2,125.00 |
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Hurvitz Fund, Interest |
$1,176.60 |
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Prison Chess Fund |
$652.53 |
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Cash in checking, Citizens Bank, N.H. (General Fund) |
$79.67 |
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Cash at Berthel Fisher |
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$6,301.98 |
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General Fund |
$383.13 |
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Hurvitz Fund, Interest |
$118.73 |
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Life Membership Fund |
$5,750.00 |
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Living Memorial Chess Fund |
$50.12 |
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Undeposited checks, Living Memorial Chess Fund |
$10.00 |
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Long term investments |
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$30,859.88 |
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Life Membership Fund |
$19,249.04 |
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Living Memorial Chess Fund |
$10,110.84 |
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Hurvitz Fund, Principal |
$1,500.00 |
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Decline to market on long term investments |
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($807.17) |
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Life Membership Fund |
($807.17) |
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Advertising revenue receivable |
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$1,697.75 |
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Other accounts receivable |
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$237.68 |
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Prepaid expenses |
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$1,264.12 |
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Capital equipment less depreciation |
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$716.46 |
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Computer equipment |
$700.00 |
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Computer software |
$103.95 |
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Accumulated depreciation |
($87.49) |
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Total assets: |
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$59,554.44 |
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Massachusetts Chess Association |
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Balance Sheet |
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As of June 30th 2002 |
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LIABILITIES: |
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Accounts payable |
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$633.80 |
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Reserve for tournament expenses |
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$25.00 |
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Total liabilities |
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$658.80 |
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FUND BALANCES: |
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General Fund |
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$9,523.89 |
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Life Membership Fund |
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$28,783.92 |
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Future Year Membership Fund |
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$275.00 |
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FY03 |
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$237.00 |
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FY04 |
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$38.00 |
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Living Memorial Chess Fund |
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$13,180.92 |
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Comeau Fund |
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$842.59 |
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Hurvitz Fund, Principal |
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$3,625.00 |
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Hurvitz Fund, Interest |
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$1,295.33 |
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Prison Chess Fund |
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$652.53 |
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Capital Equipment Fund |
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$716.46 |
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Total fund balances |
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$58,895.64 |
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Total liabilities and fund balances |
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$59,554.44 |
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Massachusetts Chess Association |
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Statement of Changes in Fund Balances |
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June, 2002 |
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Fund balance |
Plus: |
Plus: |
Fund balance |
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6-1-2002 |
Net Income |
Unrealized gain |
6-30-2002 |
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General Fund |
$11,628.29 |
($2,104.40) |
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$9,523.89 |
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Life Membership Fund |
$29,591.09 |
$0.00 |
($807.17) |
$28,783.92 |
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Future Year memberships: |
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FY02 |
$23.50 |
($23.50) |
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$0.00 |
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FY03 |
$234.00 |
$3.00 |
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$237.00 |
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FY04 |
$38.00 |
$0.00 |
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$38.00 |
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Living Memorial Chess Fund |
$13,086.79 |
$94.13 |
$0.00 |
$13,180.92 |
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Comeau Fund |
$841.54 |
$1.05 |
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$842.59 |
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Hurvitz Fund, Principal |
$3,625.00 |
$0.00 |
$0.00 |
$3,625.00 |
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Hurvitz Fund, Interest |
$1,287.45 |
$7.88 |
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$1,295.33 |
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Prison Chess Fund |
$651.72 |
$0.81 |
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$652.53 |
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Capital Equipment Fund |
$731.00 |
($14.54) |
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$716.46 |
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Total fund balances |
$61,738.38 |
($2,035.57) |
($807.17) |
$58,895.64 |
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Massachusetts Chess Association |
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General Fund Income Statement |
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June, 2002 |
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This Period |
Year to Date |
Year to Date |
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This Year |
Last Year |
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Income: |
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Memberships and subscriptions |
$55.90 |
$5,863.50 |
$7,969.80 |
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Chess Horizons ad revenue |
($166.67) |
$3,289.25 |
$1,719.75 |
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Chess Horizons sales |
$20.72 |
$276.77 |
$328.05 |
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Adult tournaments |
($16.00) |
$14,608.75 |
$18,612.96 |
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Scholastic tournaments |
$0.00 |
$14,498.00 |
$6,754.00 |
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U.S. Open income |
$0.00 |
$2,922.00 |
$0.00 |
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SASP income |
$0.00 |
$0.00 |
$1,102.10 |
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Donations |
$0.00 |
$1,712.50 |
$2,540.91 |
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Sale of donated books |
$0.00 |
$49.90 |
$253.80 |
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Interest |
$19.29 |
$183.58 |
$410.12 |
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Dividends |
$80.39 |
$1,379.55 |
$1,459.77 |
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Transfer from Capital Fund |
$0.00 |
$0.00 |
$1,414.08 |
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Miscellaneous income |
$0.00 |
$97.02 |
$340.00 |
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Total income |
($6.37) |
$44,880.82 |
$42,905.34 |
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Expenses: |
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Chess Horizons |
$1,308.52 |
$15,195.74 |
$16,767.21 |
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Adult tournaments |
($35.48) |
$10,281.64 |
$21,677.94 |
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Scholastic tournaments |
$567.86 |
$8,521.97 |
$6,217.26 |
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Internet expenses |
$87.00 |
$366.82 |
$263.73 |
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Chess equipment expense |
$0.00 |
$390.50 |
$0.00 |
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Administrative expenses |
$0.00 |
$432.77 |
$658.42 |
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Election expenses |
$17.13 |
$463.54 |
$261.95 |
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Insurance |
$0.00 |
$0.00 |
$1,748.00 |
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Bad debts |
$153.00 |
$153.00 |
$185.50 |
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Transfer to Capital Equipment Fund |
$0.00 |
$700.00 |
$0.00 |
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Miscellaneous expenses |
$0.00 |
$290.00 |
$434.12 |
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Total expenses |
$2,098.03 |
$36,795.98 |
$48,214.13 |
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Net income (loss) |
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($2,104.40) |
$8,084.84 |
($5,308.79) |
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Massachusetts Chess Association |
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Special Funds Income Statement |
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June, 2002 |
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Income: |
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Future Year Membership Fund |
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$3.00 |
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FY03 |
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$3.00 |
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Living Memorial Chess Fund |
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$94.13 |
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Interest |
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$3.78 |
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Dividends |
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$80.35 |
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Tournament income |
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$10.00 |
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Comeau Fund, Interest |
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$1.05 |
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Hurvitz Fund, Interest |
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$33.73 |
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Interest |
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$4.20 |
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Dividends |
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$29.53 |
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Prison Chess Fund |
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$0.81 |
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Interest |
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$0.81 |
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Total income |
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$132.72 |
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Expenses: |
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FY02, Transfer to General Fund |
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$23.50 |
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Hurvitz Fund, Interest |
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$25.85 |
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Trophy expense |
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$25.85 |
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Capital Equipment Fund, Depreciation expense |
$14.54 |
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Total expenses |
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$63.89 |
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Net income (loss) |
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$68.83 |
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Life Membership Fund |
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$0.00 |
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Future Year Membership Fund |
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($20.50) |
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Living Memorial Chess Fund |
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$94.13 |
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Comeau Fund |
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$1.05 |
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Hurvitz Fund, Interest |
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$7.88 |
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Prison Chess Fund |
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$0.81 |
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Capital Equipment Fund |
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($14.54) |
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