Massachusetts Chess Association
General Fund Income Statement
September, 2002
		This Period	Year to Date	Year to Date
			This Year	Last Year
Income:
	Memberships and subscriptions	$1,084.25	$1,515.45	$594.00
	Chess Horizons ad revenue	($35.42)	$143.75	$715.50
	Chess Horizons sales	$26.50	$141.30	$96.80
	Scholastic tournaments	$1,413.00	$1,413.00	$0.00
	Donations	$200.00	$200.00	$0.00
	Sale of donated books	$0.00	$0.00	$49.90
	Interest	$17.90	$55.89	$49.10
	Dividends	$79.69	$346.96	$302.21
	U.S. Open income	$0.00	$0.00	$2,922.00
	Miscellaneous income	$0.00	$44.31	$15.30
	Total income	$2,785.92	$3,860.66	$4,744.81
Expenses:
	Chess Horizons	$1,158.36	$3,475.08	$3,708.82
	Adult tournaments	$50.00	$50.00	($53.56)
	Scholastic tournaments	$1,463.10	$1,463.10	$0.00
	Player travel (Denker tournament)	$300.00	$300.00	$0.00
	Insurance	$251.00	$251.00	$0.00
	Administrative expenses	$19.02	$48.51	$202.33
	Bad debts	$0.00	$250.00	$0.00
	Miscellaneous expenses	$65.00	$65.00	$25.00
	Total expenses	$3,306.48	$5,902.69	$3,882.59
Net income (loss)		($520.56)	($2,042.03)	$862.22

Massachusetts Chess Association
Special Funds Income Statement
September, 2002
Income:
	Life Membership Fund			$175.00
		Life memberships	$175.00
	Future Year Membership Fund			$72.00
		FY04	$36.00
		FY05	$36.00
	Living Memorial Chess Fund			$262.30
		Interest	$1.02
		Dividends	$92.19
		Donations	$169.09
	Comeau Fund, Interest			$1.03
	Hurvitz Fund, Interest			$33.69
		Interest	$4.16
		Dividends	$29.53
	Prison Chess Fund			$25.88
		Interest	$0.88
		Donations	$25.00
	Total income			$569.90
Expenses:
	FY03, Transfer to General Fund			$19.75
	Living Memorial Chess Fund			$436.00
		Player travel (Denker tournament)	($300.00)
		Player travel (Greece)	$400.00
		Chess equipment	$336.00
	Hurvitz Fund, Interest			$19.43
		Hurvitz Cup trophy expense	$19.43
	Prison Chess Fund			$4.52
		Program expenses	$1.52
		Chess Horizons subscriptions	$3.00
	Capital Equipment Fund, Depreciation expense			$14.54
	Total expenses			$494.24
Net income (loss)				$75.66
	Life Membership Fund		$175.00
	Future Year Membership Fund		($19.75)
	Living Memorial Chess Fund		($173.70)
	Comeau Fund		$1.03
	Hurvitz Fund, Interest		$14.26
	Prison Chess Fund		$21.36
	Capital Equipment Fund		($14.54)

Massachusetts Chess Association
Statement of Changes in Fund Balances
September, 2002
		Fund balance	Plus:	Plus:	Fund balance
		9-1-2002	Net Income	Unrealized gain	9-30-2002
General Fund		$8,002.42	($520.56)		$7,481.86
Life Membership Fund		$28,531.32	$175.00	($746.09)	$27,960.23
Future Year memberships:
	FY03	$197.50	($19.75)		$177.75
	FY04	$62.00	$36.00		$98.00
	FY05	$12.00	$36.00		$48.00
Living Memorial Chess Fund		$13,510.75	($173.70)	($95.03)	$13,242.02
Comeau Fund		$844.64	$1.03		$845.67
Hurvitz Fund, Principal		$3,625.00	$0.00	$0.00	$3,625.00
Hurvitz Fund, Interest		$1,303.59	$14.26		$1,317.85
Prison Chess Fund		$703.09	$21.36		$724.45
Capital Equipment Fund		$687.38	($14.54)		$672.84
Total fund balances		$57,479.69	($444.90)	($841.12)	$56,193.67

Massachusetts Chess Association
Balance Sheet
As of September 30th 2002
ASSETS:
	Cash in savings, Citizens Bank, N.H.			$17,427.58
		General Fund	$4,473.96
		Life Membership Fund	$7,074.05
		Future Year Membership Fund	$323.75
		Living Memorial Chess Fund	$691.49
		Comeau Fund	$845.67
		Hurvitz Fund, Principal	$2,125.00
		Hurvitz Fund, Interest	$1,169.21
		Prison Chess Fund	$724.45
	Cash in checking, Citizens Bank, N.H. (General Fund)			$84.43
	Cash at Berthel Fisher			$3,548.39
		General Fund	$741.47
		Hurvitz Fund, Interest	$148.64
		Life Membership Fund	$2,494.20
		Living Memorial Chess Fund	$164.08
	Undeposited checks (General Fund)			$1,525.00
	Long term investments			$34,180.35
		Life Membership Fund	$20,198.87
		Living Memorial Chess Fund	$12,481.48
		Hurvitz Fund, Principal	$1,500.00
	Decline to market on long term investments			($1,901.92)
		Life Membership Fund	($1,806.89)
		Living Memorial Chess Fund	($95.03)
	Advertising revenue receivable			$1,057.75
	Other accounts receivable			$210.68
	Prepaid expenses			$467.50
	Capital equipment less depreciation			$672.84
		Computer equipment	$700.00
		Computer software	$103.95
		Accumulated depreciation	($131.11)
Total assets:				$57,272.60
Massachusetts Chess Association
Balance Sheet
As of September 30th 2002
LIABILITIES:
	Accounts payable			$660.68
	Unearned advertising revenue			$281.25
	Unearned tournament revenue			$137.00
	Total liabilities			$1,078.93
FUND BALANCES:
	General Fund			$7,481.86
	Life Membership Fund			$27,960.23
	Future Year Membership Fund			$323.75
		FY03	$177.75
		FY04	$98.00
		FY05	$48.00
	Living Memorial Chess Fund			$13,242.02
	Comeau Fund			$845.67
	Hurvitz Fund, Principal			$3,625.00
	Hurvitz Fund, Interest			$1,317.85
	Prison Chess Fund			$724.45
	Capital Equipment Fund			$672.84
	Total fund balances			$56,193.67
Total liabilities and fund balances				$57,272.60