Massachusetts Chess Association
General Fund Income Statement
February, 2003
		This Period	Year to Date	Year to Date
			This Year	Last Year
Income:
	Memberships and subscriptions	$740.15	$4,448.80	$3,116.90
	Chess Horizons ad revenue	$47.03	$966.57	$3,071.09
	Chess Horizons sales	$3.95	$214.65	$202.50
	Adult tournaments	$0.00	$4,403.50	$4,777.50
	Scholastic tournaments	$1,719.00	$6,311.00	$7,884.00
	Donations	$385.00	$585.00	$1,500.00
	Sale of donated books	$0.00	$0.00	$49.90
	Interest	$4.02	$82.87	$112.68
	Dividends	$204.21	$1,254.55	$952.11
	U.S. Open income	$0.00	$0.00	$2,922.00
	Miscellaneous income	$29.53	$91.06	$30.34
	Total income	$3,132.89	$18,358.00	$24,619.02
Expenses:
	Chess Horizons	$1,205.52	$9,487.92	$10,339.92
	Adult tournaments	$0.00	$3,603.31	$3,556.94
	Scholastic tournaments	$1,462.40	$6,482.68	$3,282.72
	Player travel (Denker tournament)	$0.00	$300.00	$0.00
	Internet	$229.77	$229.77	$174.82
	Insurance	$0.00	$1,004.00	$0.00
	Administrative expenses	$3.50	$195.66	$269.65
	Bad debts	$0.00	$250.00	$0.00
	Miscellaneous expenses	$0.00	$230.00	$290.00
	Total expenses	$2,901.19	$21,783.34	$17,914.05
Net income (loss)		$231.70	($3,425.34)	$6,704.97

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Massachusetts Chess Association
Special Funds Income Statement
February, 2003
Income:
	Life Membership Fund			$175.00
		Life memberships	$175.00
	Future Years Membership Fund			$177.00
		FY04	$132.00
		FY05	$45.00
	Living Memorial Chess Fund			$109.17
		Scholastic tournaments	$45.00
		Interest	$0.37
		Dividends	$63.80
	Comeau Fund, Interest			$0.52
	Hurvitz Fund, Interest			$2.10
	Prison Chess Fund, Interest			$0.10
	Total income			$463.89
Expenses:
	Life Membership Fund			$102.54
		Realized capital loss	$102.54
	FY03, Transfer to General Fund			$19.75
	Living Memorial Chess Fund			$175.00
		Chess equipment	$175.00
	Capital Equipment Fund, Depreciation expense			$14.54
	Total expenses			$311.83
Net income (loss)				$152.06
	Life Membership Fund		$72.46
	Future Year Membership Fund		$157.25
	Living Memorial Chess Fund		($65.83)
	Comeau Fund		$0.52
	Hurvitz Fund, Interest		$2.10
	Prison Chess Fund		$0.10
	Capital Equipment Fund		($14.54)

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Massachusetts Chess Association
Statement of Changes in Fund Balances
February, 2003
		Fund balance	Plus:	Plus:	Fund balance
		2/1/2003	Net Income	Unrealized gain	2/28/2003
General Fund		$5,809.00	$231.70		$6,040.70
Life Membership Fund		$28,072.65	$72.46	$202.79	$28,347.90
Future Year memberships:
	FY03	$98.75	($19.75)		$79.00
	FY04	$134.00	$132.00		$266.00
	FY05	$48.00	$45.00		$93.00
Living Memorial Chess Fund		$13,607.52	($65.83)	($42.84)	$13,498.85
Comeau Fund		$849.61	$0.52		$850.13
Hurvitz Fund, Principal		$3,625.00	$0.00	$0.00	$3,625.00
Hurvitz Fund, Interest		$1,363.20	$2.10		$1,365.30
Prison Chess Fund		$162.28	$0.10		$162.38
Capital Equipment Fund		$614.68	($14.54)		$600.14
Total fund balances		$54,384.69	$383.76	$159.95	$54,928.40

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Massachusetts Chess Association
Balance Sheet
As of February 28th 2003
ASSETS:
	Cash in savings, Citizens Bank, N.H.							$11,150.64
			General Fund		$3,818.98
			Life Membership Fund		$1,949.05
			Future Year Membership Fund		$438.00
			Living Memorial Chess Fund		$520.22
			Comeau Fund		$850.13
			Hurvitz Fund, Principal		$2,125.00
			Hurvitz Fund, Interest		$1,286.88
			Prison Chess Fund		$162.38
	Cash in checking, Citizens Bank, N.H. (General Fund)							$51.32
	Cash in 2nd checking, Citizens Bank, N.H. (Gen. Fund)							$100.62
	Cash at Berthel Fisher							$1,171.05
			General Fund			$530.59
			Hurvitz Fund, Interest			$78.42
			Life Membership Fund			$383.41
			Living Memorial Chess Fund			$178.63
	Long term investments							$42,724.91
			Life Membership Fund			$27,782.12
			Living Memorial Chess Fund			$13,442.79
			Hurvitz Fund, Principal			$1,500.00
	Decline to market on long term investments							($2,409.47)
			Life Membership Fund			($1,766.68)
			Living Memorial Chess Fund			($642.79)
	Advertising revenue receivable							$447.75
	Other accounts receivable							$209.71
	Prepaid expenses							$2,527.76
	Capital equipment less depreciation							$600.14
			Computer equipment			$700.00
			Computer software			$103.95
			Accumulated depreciation			($203.81)
Total assets:								$56,574.43
Massachusetts Chess Association
Balance Sheet
As of December 31st 2002
LIABILITIES:
		Accounts payable					$7.50
		Reserve for restricted donations					$1,250.00
		Unearned income					$388.53
		Total liabilities					$1,646.03
FUND BALANCES:
		General Fund					$6,040.70
		Life Membership Fund					$28,347.90
		Future Year Membership Fund					$438.00
			FY03	$79.00
			FY04	$266.00
			FY05	$93.00
		Living Memorial Chess Fund					$13,498.85
		Comeau Fund					$850.13
		Hurvitz Fund, Principal					$3,625.00
		Hurvitz Fund, Interest					$1,365.30
		Prison Chess Fund					$162.38
		Capital Equipment Fund					$600.14
		Total fund balances					$54,928.40
Total liabilities and fund balances							$56,574.43