Massachusetts Chess Association |
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General Fund Income Statement |
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December, 2002 |
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This Period |
Year to Date |
Year to Date |
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This Year |
Last Year |
Income: |
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Memberships and
subscriptions |
$589.95 |
$3,644.50 |
$2,403.30 |
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Chess Horizons ad revenue |
$242.91 |
$872.50 |
$2,534.75 |
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Chess Horizons sales |
$61.40 |
$210.70 |
$154.20 |
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Adult tournaments |
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$2,170.50 |
$4,403.50 |
$4,777.50 |
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Scholastic tournaments |
$1,536.00 |
$4,592.00 |
$2,726.00 |
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Donations |
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$0.00 |
$200.00 |
$0.00 |
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Sale of donated books |
$0.00 |
$0.00 |
$49.90 |
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Interest |
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$6.35 |
$75.81 |
$89.85 |
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Dividends |
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$117.37 |
$853.51 |
$690.66 |
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U.S. Open income |
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$0.00 |
$0.00 |
$2,922.00 |
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Miscellaneous income |
$0.00 |
$60.91 |
$30.34 |
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Total income |
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$4,724.48 |
$14,913.43 |
$16,378.50 |
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Expenses: |
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Chess Horizons |
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$1,200.59 |
$7,076.87 |
$7,939.44 |
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Adult tournaments |
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$1,708.67 |
$3,553.31 |
$3,556.94 |
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Scholastic tournaments |
$1,380.39 |
$4,357.08 |
$1,188.53 |
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Player travel (Denker
tournament) |
$0.00 |
$300.00 |
$0.00 |
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Internet |
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$0.00 |
$57.85 |
$174.82 |
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Insurance |
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$0.00 |
$1,004.00 |
$0.00 |
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Administrative expenses |
$20.11 |
$147.22 |
$266.39 |
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Bad debts |
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$0.00 |
$250.00 |
$0.00 |
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Miscellaneous expenses |
$0.00 |
$215.00 |
$165.00 |
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Total expenses |
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$4,309.76 |
$16,961.33 |
$13,291.12 |
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Net income (loss) |
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$414.72 |
($2,047.90) |
$3,087.38 |
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Massachusetts Chess Association |
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Special Funds Income Statement |
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December, 2002 |
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Income: |
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Life Membership Fund |
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$175.00 |
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Life memberships |
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$175.00 |
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Future Year Membership
Fund |
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$12.00 |
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FY04 |
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$12.00 |
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Living Memorial Chess Fund |
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$132.62 |
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Interest |
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$0.52 |
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Dividends |
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$132.10 |
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Comeau Fund, Interest |
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$0.91 |
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Hurvitz Fund, Interest |
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$33.22 |
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Interest |
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$3.69 |
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Dividends |
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$29.53 |
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Prison Chess Fund |
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$104.17 |
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Subscriptions |
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$4.00 |
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Donations |
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$100.00 |
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Interest |
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$0.17 |
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Total income |
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$457.92 |
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Expenses: |
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FY03, Transfer to General
Fund |
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$19.75 |
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Prison Chess Fund |
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$20.00 |
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Transfer to General Fund |
$20.00 |
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Capital Equipment Fund,
Depreciation expense |
$14.54 |
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Total expenses |
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$54.29 |
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Net income (loss) |
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$403.63 |
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Life Membership Fund |
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$175.00 |
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Future Year Membership
Fund |
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($7.75) |
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Living Memorial Chess Fund |
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$132.62 |
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Comeau Fund |
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$0.91 |
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Hurvitz Fund, Interest |
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$33.22 |
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Prison Chess Fund |
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$84.17 |
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Capital Equipment Fund |
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($14.54) |
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Massachusetts Chess Association |
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Statement of Changes in Fund
Balances |
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December, 2002 |
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Fund balance |
Plus: |
Plus: |
Fund balance |
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12-1-2002 |
Net Income |
Unrealized gain |
12-31-2002 |
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General Fund |
$7,061.27 |
$414.72 |
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$7,475.99 |
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Life Membership Fund |
$27,991.75 |
$175.00 |
($301.92) |
$27,864.83 |
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Future Year memberships: |
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FY03 |
$138.25 |
($19.75) |
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$118.50 |
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FY04 |
$122.00 |
$12.00 |
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$134.00 |
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FY05 |
$48.00 |
$0.00 |
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$48.00 |
Living Memorial Chess Fund |
$13,058.79 |
$132.62 |
($348.52) |
$12,842.89 |
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Comeau Fund |
$847.68 |
$0.91 |
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$848.59 |
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Hurvitz Fund, Principal |
$3,625.00 |
$0.00 |
$0.00 |
$3,625.00 |
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Hurvitz Fund, Interest |
$1,325.85 |
$33.22 |
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$1,359.07 |
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Prison Chess Fund |
$77.92 |
$84.17 |
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$162.09 |
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Capital Equipment Fund |
$643.76 |
($14.54) |
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$629.22 |
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Total fund balances |
$54,940.27 |
$818.35 |
($650.44) |
$55,108.18 |
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Massachusetts Chess Association |
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Balance Sheet |
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As of December 31st 2002 |
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ASSETS: |
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Cash in savings, Citizens
Bank, N.H. |
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$10,511.86 |
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General Fund |
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$4,504.51 |
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Life Membership Fund |
$849.05 |
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Future Year Membership
Fund |
$300.50 |
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Living Memorial Chess Fund |
$441.42 |
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Comeau Fund |
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$848.59 |
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Hurvitz Fund, Principal |
$2,125.00 |
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Hurvitz Fund, Interest |
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$1,280.70 |
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Prison Chess Fund |
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$162.09 |
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Cash in checking, Citizens
Bank, N.H. (General Fund) |
$36.06 |
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Cash at Berthel Fisher |
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$693.62 |
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General Fund |
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$129.08 |
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Hurvitz Fund, Interest |
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$78.37 |
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Life Membership Fund |
$383.41 |
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Living Memorial Chess Fund |
$102.76 |
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Long term investments |
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$43,702.12 |
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Life Membership Fund |
$28,809.66 |
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Living Memorial Chess Fund |
$13,392.46 |
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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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($3,271.04) |
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Life Membership Fund |
($2,177.29) |
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Living Memorial Chess Fund |
($1,093.75) |
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Advertising revenue
receivable |
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$1,232.75 |
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Other accounts receivable |
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$238.71 |
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Prepaid expenses |
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$1,529.88 |
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Capital equipment less
depreciation |
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$629.22 |
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Computer equipment |
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$700.00 |
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Computer software |
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$103.95 |
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Accumulated depreciation |
($174.73) |
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Total assets: |
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$55,303.18 |
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Massachusetts Chess Association |
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Balance Sheet |
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As of December 31st 2002 |
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LIABILITIES: |
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Accounts payable |
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$7.50 |
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Unearned income |
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$187.50 |
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Total liabilities |
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$195.00 |
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FUND BALANCES: |
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General Fund |
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$7,475.99 |
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Life Membership Fund |
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$27,864.83 |
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Future Year Membership
Fund |
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$300.50 |
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FY03 |
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$118.50 |
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FY04 |
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$134.00 |
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FY05 |
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$48.00 |
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Living Memorial Chess Fund |
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$12,842.89 |
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Comeau Fund |
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$848.59 |
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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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$1,359.07 |
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Prison Chess Fund |
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$162.09 |
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Capital Equipment Fund |
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$629.22 |
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Total fund balances |
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$55,108.18 |
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Total liabilities and
fund balances |
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$55,303.18 |