Massachusetts Chess Association
General Fund Income Statement
April, 2003
		This Period	Year to Date	Year to Date
			This Year	Last Year
Income:
	Memberships and subscriptions	$1,056.55	$6,335.70	$5,116.10
	Chess Horizons ad revenue	$93.75	$1,107.35	$3,397.58
	Chess Horizons sales	$0.00	$268.20	$256.05
	Adult tournaments	$0.00	$6,189.25	$6,603.25
	Scholastic tournaments	$4,090.00	$12,340.00	$14,872.00
	Donations	$2,300.00	$4,317.00	$1,612.50
	Sale of donated books	$0.00	$0.00	$49.90
	Interest	$6.53	$95.30	$145.20
	Dividends	$166.18	$1,531.00	$1,182.75
	U.S. Open income	$0.00	$0.00	$2,922.00
	Miscellaneous income	$0.00	$91.06	$97.02
	Total income	$7,713.01	$32,274.86	$36,254.35
Expenses:
	Chess Horizons	$999.65	$11,697.54	$12,713.69
	Adult tournaments	$0.00	$5,286.21	$5,129.26
	Scholastic tournaments	$5,693.37	$14,350.20	$7,954.11
	Player travel (Denker tournament)	$0.00	$300.00	$0.00
	Internet	$0.00	$287.62	$174.82
	Insurance	$0.00	$1,004.00	$0.00
	Administrative expenses	$8.81	$204.47	$381.76
	Election expenses	$480.00	$480.00	$0.00
	Bad debts	$0.00	$250.00	$0.00
	Miscellaneous expenses	$0.00	$105.00	$290.00
	Total expenses	$7,181.83	$33,965.04	$26,643.64
Net income (loss)		$531.18	($1,690.18)	$9,610.71

Massachusetts Chess Association
Special Funds Income Statement
April, 2003
Income:
	Life Membership Fund			$275.00
		Life memberships	$275.00
	Future Years Membership Fund			$24.00
		FY04	$12.00
		FY05	$12.00
	Living Memorial Chess Fund			$351.27
		Donations	$151.00
		Interest	$0.84
		Dividends	$88.39
		Realized capital gains	$111.04
	Comeau Fund, Interest			$0.79
	Hurvitz Fund, Interest			$3.20
		Interest	$3.20
	Prison Chess Fund, Interest			$0.15
	Total income			$654.41
Expenses:
	FY03, Transfer to General Fund			$19.75
	Capital Equipment Fund, Depreciation expense			$14.54
	Total expenses			$34.29
Net income (loss)				$620.12
	Life Membership Fund		$275.00
	Future Year Membership Fund		$4.25
	Living Memorial Chess Fund		$351.27
	Comeau Fund		$0.79
	Hurvitz Fund, Interest		$3.20
	Prison Chess Fund		$0.15
	Capital Equipment Fund		($14.54)

Massachusetts Chess Association
Statement of Changes in Fund Balances
April, 2003
		Fund balance	Plus:	Plus:	Fund balance
		4/1/2003	Net Income	Unrealized gain	4/30/2003
General Fund		$7,302.53	$531.18		$7,833.71
Life Membership Fund		$28,395.71	$275.00	$1,317.02	$29,987.73
Future Year memberships:
	FY03	$59.25	($19.75)		$39.50
	FY04	$306.00	$12.00		$318.00
	FY05	$117.00	$12.00		$129.00
Living Memorial Chess Fund		$13,478.19	$351.27	$430.43	$14,259.89
Comeau Fund		$850.84	$0.79		$851.63
Hurvitz Fund, Principal		$3,625.00	$0.00		$3,625.00
Hurvitz Fund, Interest		$1,395.91	$3.20	$1.80	$1,400.91
Prison Chess Fund		$162.52	$0.15		$162.67
Capital Equipment Fund		$585.60	($14.54)		$571.06
Total fund balances		$56,278.55	$1,151.30	$1,749.25	$59,179.10

Massachusetts Chess Association
Balance Sheet
As of April 30th 2003
ASSETS:
	Cash in savings, Citizens Bank, N.H.			$12,045.60
		General Fund	$4,067.30
		Life Membership Fund	$2,224.05
		Future Year Membership Fund	$486.50
		Living Memorial Chess Fund	$835.54
		Comeau Fund	$851.63
		Hurvitz Fund, Principal	$2,125.00
		Hurvitz Fund, Interest	$1,292.91
		Prison Chess Fund	$162.67
	Cash in checking, Citizens Bank, N.H. (General Fund)			$64.04
	Cash in 2nd checking, Citizens Bank, N.H. (Gen. Fund)			$239.81
	Cash at Berthel Fisher			$1,576.65
		General Fund	$807.52
		Hurvitz Fund, Interest	$108.00
		Life Membership Fund	$383.41
		Living Memorial Chess Fund	$277.72
	Long term investments			$42,638.29
		Life Membership Fund	$27,782.12
		Living Memorial Chess Fund	$13,356.17
		Hurvitz Fund, Principal	$1,500.00
	Decline to market on long term investments			($611.39)
		Life Membership Fund	($401.85)
		Living Memorial Chess Fund	($209.54)
	Advertising revenue receivable			$447.75
	Other accounts receivable			$353.71
	Prepaid expenses			$2,549.53
	Capital equipment less depreciation			$571.06
		Computer equipment	$700.00
		Computer software	$103.95
		Accumulated depreciation	($232.89)
Total assets:				$59,875.05
Massachusetts Chess Association
Balance Sheet
As of December 31st 2002
LIABILITIES:
	Accounts payable			$32.45
	Unearned income			$663.50
	Total liabilities			$695.95
FUND BALANCES:
	General Fund			$7,833.71
	Life Membership Fund			$29,987.73
	Future Year Membership Fund			$486.50
		FY03	$39.50
		FY04	$318.00
		FY05	$129.00
	Living Memorial Chess Fund			$14,259.89
	Comeau Fund			$851.63
	Hurvitz Fund, Principal			$3,625.00
	Hurvitz Fund, Interest			$1,400.91
	Prison Chess Fund			$162.67
	Capital Equipment Fund			$571.06
	Total fund balances			$59,179.10
Total liabilities and fund balances				$59,875.05