Massachusetts Chess Association

General Fund Income Statement

December, 2002

 

 

 

 

 

 

 

 

 

 

 

This Period

Year to Date

Year to Date

 

 

 

 

 

This Year

Last Year

Income:

 

 

 

 

 

 

 

Memberships and subscriptions

$589.95

$3,644.50

$2,403.30

 

Chess Horizons ad revenue

$242.91

$872.50

$2,534.75

 

Chess Horizons sales

$61.40

$210.70

$154.20

 

Adult tournaments

 

$2,170.50

$4,403.50

$4,777.50

 

Scholastic tournaments

$1,536.00

$4,592.00

$2,726.00

 

Donations

 

$0.00

$200.00

$0.00

 

Sale of donated books

$0.00

$0.00

$49.90

 

Interest

 

 

$6.35

$75.81

$89.85

 

Dividends

 

 

$117.37

$853.51

$690.66

 

U.S. Open income

 

$0.00

$0.00

$2,922.00

 

Miscellaneous income

$0.00

$60.91

$30.34

 

 

 

 

 

 

 

 

Total income

 

$4,724.48

$14,913.43

$16,378.50

 

 

 

 

 

 

 

Expenses:

 

 

 

 

 

 

Chess Horizons

 

$1,200.59

$7,076.87

$7,939.44

 

Adult tournaments

 

$1,708.67

$3,553.31

$3,556.94

 

Scholastic tournaments

$1,380.39

$4,357.08

$1,188.53

 

Player travel (Denker tournament)

$0.00

$300.00

$0.00

 

Internet

 

 

$0.00

$57.85

$174.82

 

Insurance

 

 

$0.00

$1,004.00

$0.00

 

Administrative expenses

$20.11

$147.22

$266.39

 

Bad debts

 

$0.00

$250.00

$0.00

 

Miscellaneous expenses

$0.00

$215.00

$165.00

 

 

 

 

 

 

 

 

Total expenses

 

$4,309.76

$16,961.33

$13,291.12

 

 

 

 

 

 

 

Net income (loss)

 

 

$414.72

($2,047.90)

$3,087.38

.

Massachusetts Chess Association

Special Funds Income Statement

December, 2002

 

 

 

 

 

 

 

Income:

 

 

 

 

 

 

 

Life Membership Fund

 

 

$175.00

 

 

Life memberships

 

$175.00

 

 

Future Year Membership Fund

 

 

$12.00

 

 

FY04

 

 

$12.00

 

 

Living Memorial Chess Fund

 

 

$132.62

 

 

Interest

 

 

$0.52

 

 

 

Dividends

 

 

$132.10

 

 

Comeau Fund, Interest

 

 

$0.91

 

Hurvitz Fund, Interest

 

 

 

$33.22

 

 

Interest

 

 

$3.69

 

 

 

Dividends

 

 

$29.53

 

 

Prison Chess Fund

 

 

 

$104.17

 

 

Subscriptions

 

$4.00

 

 

 

Donations

 

$100.00

 

 

 

Interest

 

 

$0.17

 

 

 

 

 

 

 

 

 

Total income

 

 

 

$457.92

 

 

 

 

 

 

 

Expenses:

 

 

 

 

 

 

FY03, Transfer to General Fund

 

 

$19.75

 

Prison Chess Fund

 

 

 

$20.00

 

 

Transfer to General Fund

$20.00

 

 

Capital Equipment Fund, Depreciation expense

$14.54

 

 

 

 

 

 

 

 

Total expenses

 

 

 

$54.29

 

 

 

 

 

 

 

Net income (loss)

 

 

 

 

$403.63

 

Life Membership Fund

 

$175.00

 

 

Future Year Membership Fund

 

($7.75)

 

 

Living Memorial Chess Fund

 

$132.62

 

 

Comeau Fund

 

 

$0.91

 

 

Hurvitz Fund, Interest

 

 

$33.22

 

 

Prison Chess Fund

 

 

$84.17

 

 

Capital Equipment Fund

 

($14.54)

 

.

Massachusetts Chess Association

Statement of Changes in Fund Balances

December, 2002

 

 

 

 

 

 

 

 

Fund balance

Plus:

Plus:

Fund balance

 

 

12-1-2002

Net Income

Unrealized gain

12-31-2002

 

 

 

 

 

 

General Fund

$7,061.27

$414.72

 

$7,475.99

Life Membership Fund

$27,991.75

$175.00

($301.92)

$27,864.83

Future Year memberships:

 

 

 

 

FY03

$138.25

($19.75)

 

$118.50

 

FY04

$122.00

$12.00

 

$134.00

 

FY05

$48.00

$0.00

 

$48.00

Living Memorial Chess Fund

$13,058.79

$132.62

($348.52)

$12,842.89

Comeau Fund

$847.68

$0.91

 

$848.59

Hurvitz Fund, Principal

$3,625.00

$0.00

$0.00

$3,625.00

Hurvitz Fund, Interest

$1,325.85

$33.22

 

$1,359.07

Prison Chess Fund

$77.92

$84.17

 

$162.09

Capital Equipment Fund

$643.76

($14.54)

 

$629.22

 

 

 

 

 

 

Total fund balances

$54,940.27

$818.35

($650.44)

$55,108.18

.

Massachusetts Chess Association

Balance Sheet

As of December 31st 2002

 

 

 

 

 

 

 

ASSETS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash in savings, Citizens Bank, N.H.

 

$10,511.86

 

 

General Fund

 

$4,504.51

 

 

 

Life Membership Fund

$849.05

 

 

 

Future Year Membership Fund

$300.50

 

 

 

Living Memorial Chess Fund

$441.42

 

 

 

Comeau Fund

 

$848.59

 

 

 

Hurvitz Fund, Principal

$2,125.00

 

 

 

Hurvitz Fund, Interest

 

$1,280.70

 

 

 

Prison Chess Fund

 

$162.09

 

 

Cash in checking, Citizens Bank, N.H. (General Fund)

$36.06

 

Cash at Berthel Fisher

 

 

$693.62

 

 

General Fund

 

$129.08

 

 

 

Hurvitz Fund, Interest

 

$78.37

 

 

 

Life Membership Fund

$383.41

 

 

 

Living Memorial Chess Fund

$102.76

 

 

Long term investments

 

 

$43,702.12

 

 

Life Membership Fund

$28,809.66

 

 

 

Living Memorial Chess Fund

$13,392.46

 

 

 

Hurvitz Fund, Principal

$1,500.00

 

 

Decline to market on long term investments

 

($3,271.04)

 

 

Life Membership Fund

($2,177.29)

 

 

 

Living Memorial Chess Fund

($1,093.75)

 

 

Advertising revenue receivable

 

 

$1,232.75

 

Other accounts receivable

 

 

$238.71

 

Prepaid expenses

 

 

 

$1,529.88

 

Capital equipment less depreciation

 

$629.22

 

 

Computer equipment

 

$700.00

 

 

 

Computer software

 

$103.95

 

 

 

Accumulated depreciation

($174.73)

 

 

 

 

 

 

 

 

Total assets:

 

 

 

 

$55,303.18

Massachusetts Chess Association

Balance Sheet

As of December 31st 2002

 

 

 

 

 

 

 

LIABILITIES:

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

 

 

$7.50

 

Unearned income

 

 

 

$187.50

 

 

 

 

 

 

 

 

Total liabilities

 

 

 

$195.00

 

 

 

 

 

 

 

FUND BALANCES:

 

 

 

 

 

 

 

 

 

 

 

 

 

General Fund

 

 

 

$7,475.99

 

Life Membership Fund

 

 

$27,864.83

 

Future Year Membership Fund

 

 

$300.50

 

 

FY03

 

 

$118.50

 

 

 

FY04

 

 

$134.00

 

 

 

FY05

 

 

$48.00

 

 

Living Memorial Chess Fund

 

 

$12,842.89

 

Comeau Fund

 

 

 

$848.59

 

Hurvitz Fund, Principal

 

 

$3,625.00

 

Hurvitz Fund, Interest

 

 

 

$1,359.07

 

Prison Chess Fund

 

 

 

$162.09

 

Capital Equipment Fund

 

 

$629.22

 

 

 

 

 

 

 

 

Total fund balances

 

 

$55,108.18

 

 

 

 

 

 

 

Total liabilities and fund balances

 

 

$55,303.18