Massachusetts Chess Association
Balance Sheet
As of October 31st 2002
ASSETS:
	Cash in savings, Citizens Bank, N.H.			$10,067.79
		General Fund	$4,525.03
		Life Membership Fund	$574.05
		Future Year Membership Fund	$304.00
		Living Memorial Chess Fund	$436.92
		Comeau Fund	$846.94
		Hurvitz Fund, Principal	$2,125.00
		Hurvitz Fund, Interest	$1,174.15
		Prison Chess Fund	$81.70
	Cash in checking, Citizens Bank, N.H. (General Fund)			$93.49
	Cash at Berthel Fisher			$903.04
		General Fund	$175.33
		Hurvitz Fund, Interest	$148.72
		Life Membership Fund	$383.41
		Living Memorial Chess Fund	$195.58
	Long term investments			$42,961.96
		Life Membership Fund	$28,809.66
		Living Memorial Chess Fund	$12,652.30
		Hurvitz Fund, Principal	$1,500.00
	Decline to market on long term investments			($3,467.76)
		Life Membership Fund	($2,746.68)
		Living Memorial Chess Fund	($721.08)
	Advertising revenue receivable			$1,427.75
	Other accounts receivable			$213.71
	Prepaid expenses			$2,453.69
	Capital equipment less depreciation			$658.30
		Computer equipment	$700.00
		Computer software	$103.95
		Accumulated depreciation	($145.65)
Total assets:				$55,311.97
Massachusetts Chess Association
Balance Sheet
As of September 30th 2002
LIABILITIES:
	Accounts payable			$7.50
	Unearned advertising revenue			$673.33
	Total liabilities			$680.83
FUND BALANCES:
	General Fund			$8,208.17
	Life Membership Fund			$27,020.44
	Future Year Membership Fund			$304.00
		FY03	$158.00
		FY04	$98.00
		FY05	$48.00
	Living Memorial Chess Fund			$12,563.72
	Comeau Fund			$846.94
	Hurvitz Fund, Principal			$3,625.00
	Hurvitz Fund, Interest			$1,322.87
	Prison Chess Fund			$81.70
	Capital Equipment Fund			$658.30
	Total fund balances			$54,631.14
Total liabilities and fund balances				$55,311.97

Massachusetts Chess Association
Statement of Changes in Fund Balances
October, 2002
		Fund balance	Plus:	Plus:	Fund balance
		10-1-2002	Net Income	Unrealized gain	10-31-2002
General Fund		$7,481.86	$726.31		$8,208.17
Life Membership Fund		$27,960.23	$0.00	($939.79)	$27,020.44
Future Year memberships:
	FY03	$177.75	($19.75)		$158.00
	FY04	$98.00	$0.00		$98.00
	FY05	$48.00	$0.00		$48.00
Living Memorial Chess Fund		$13,242.02	($52.25)	($626.05)	$12,563.72
Comeau Fund		$845.67	$1.27		$846.94
Hurvitz Fund, Principal		$3,625.00	$0.00	$0.00	$3,625.00
Hurvitz Fund, Interest		$1,317.85	$5.02		$1,322.87
Prison Chess Fund		$724.45	($642.75)		$81.70
Capital Equipment Fund		$672.84	($14.54)		$658.30
Total fund balances		$56,193.67	$3.31	($1,565.84)	$54,631.14

Massachusetts Chess Association
General Fund Income Statement
October, 2002
		This Period	Year to Date	Year to Date
			This Year	Last Year
Income:
	Memberships and subscriptions	$888.15	$2,403.60	$863.50
	Chess Horizons ad revenue	$242.92	$386.67	$1,321.92
	Chess Horizons sales	$0.00	$141.30	$106.80
	Adult tournaments	$2,233.00	$2,233.00	$2,578.50
	Scholastic tournaments	$0.00	$1,413.00	$580.00
	Donations	$0.00	$200.00	$0.00
	Sale of donated books	$0.00	$0.00	$49.90
	Interest	$8.45	$64.34	$60.94
	Dividends	$133.50	$480.46	$445.38
	U.S. Open income	$0.00	$0.00	$2,922.00
	Miscellaneous income	$6.94	$51.25	$15.30
	Total income	$3,512.96	$7,373.62	$8,944.24
Expenses:
	Chess Horizons	$1,200.60	$4,675.68	$5,119.03
	Adult tournaments	$1,546.06	$1,596.06	$1,642.19
	Scholastic tournaments	$0.00	$1,463.10	$531.23
	Player travel (Denker tournament)	$0.00	$300.00	$0.00
	Insurance	$0.00	$251.00	$0.00
	Administrative expenses	$39.99	$88.50	$219.40
	Bad debts	$0.00	$250.00	$0.00
	Miscellaneous expenses	$0.00	$65.00	$25.00
	Total expenses	$2,786.65	$8,689.34	$7,536.85
Net income (loss)		$726.31	($1,315.72)	$1,407.39

Massachusetts Chess Association
Special Funds Income Statement
October, 2002
Income:
	Living Memorial Chess Fund			$142.67
		Interest	$0.77
		Dividends	$66.90
		Donations	$75.00
	Comeau Fund, Interest			$1.27
	Hurvitz Fund, Interest			$5.02
		Interest	$5.02
	Prison Chess Fund			$0.12
		Interest	$0.12
	Total income			$149.08
Expenses:
	FY03, Transfer to General Fund			$19.75
	Living Memorial Chess Fund			$194.92
		Chess equipment	$194.92
	Prison Chess Fund			$642.87
		Program expenses	$2.87
		Chess Horizons subscriptions	$640.00
	Capital Equipment Fund, Depreciation expense			$14.54
	Total expenses			$872.08
Net income (loss)				($723.00)
	Life Membership Fund		$0.00
	Future Year Membership Fund		($19.75)
	Living Memorial Chess Fund		($52.25)
	Comeau Fund		$1.27
	Hurvitz Fund, Interest		$5.02
	Prison Chess Fund		($642.75)
	Capital Equipment Fund		($14.54)