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The Graybeards - KWVA - Korean War Veterans Association

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ASSETS<br />

CURRENT ASSETS<br />

CASH IN BANKBANK ONECKNG $ 15,040.88<br />

CASHBANK ONESAVINGS 67,196.40<br />

BANK ONE SVGS-1578460451 603,021.80<br />

TOTAL CURRENT ASSETS 685,259.08<br />

FIXED ASSETS<br />

COMMEMORATIVE ASSETS 3,000.00<br />

OFFICE EQUIPMENT 1,907.00<br />

LESS ACCUMULATED DEPRECIATION (839.08)<br />

TOTAL FIXED ASSETS 4,067.92<br />

TOTAL ASSETS $ 689,327.00<br />

LIABILITIES AND FUND BALANCES<br />

FUND BALANCES<br />

GENERAL FUND 514,835.13<br />

LIFE MEMBERSHIP FUND 94,139.60<br />

CURRENT EARNINGS 80,352.27<br />

TOTAL FUND BALANCES 689,327.00<br />

TOTAL LIABILITIES<br />

AND FUND BALANCES $ 689,327.00<br />

INCOME<br />

STATEMENT OF ACTIVITY - CASH BASIS<br />

For the 3 Months Ended March 31, 2003<br />

3 Months Ended 3 Months Ended<br />

March 31, 2003 March 31, 2003<br />

MEMBERSHIP $ 96,698.08 $ 96,698.08<br />

DONATIONS - GRAYBEARDS 2,939.89 2,939.89<br />

INTEREST 3,703.03 3,703.03<br />

SPECIAL DONATION 44,360.95 44,360.95<br />

TOTAL INCOME 150,346.95 150,346.95<br />

KOREAN WAR VETERANS ASSOCIATION, INC.<br />

STATEMENT OF ASSETS, LIABILITIES, AND FUND BALANCES CASH BASIS<br />

As of 3 Months Ended March 31, 2003<br />

OPERATING EXPENSES<br />

TELEPHONE 671.30 671.30<br />

OFFICE SUPPLIES 434.99 434.99<br />

INSURANCE 14,174.00 14,174.00<br />

REPAIRS & MAINTENANCE 895.17 895.17<br />

GRAYBEARDS 26,313.19 26,313.19<br />

ACCOUNTING FEES 500.00 500.00<br />

VA/VS REP 724.00 724.00<br />

MEETING EXPENSE 130.07 130.07<br />

REUNION 2,601.17 2,601.17<br />

NOMINATORY ELECTIONS 16.17 16.17<br />

CONTRACT LABOR 250.00 250.00<br />

UTILITIES 541.75 541.75<br />

DEPRECIATION 839.08 839.08<br />

BANK SERVICE CHARGES 411.58 411.58<br />

POSTAGE 439.77 439.77<br />

PRESIDENT TRAVEL FUND 1,863.97 1,863.97<br />

SPECIAL DONATION 925.12 925.12<br />

CHAPTER EXPENSE 2,550.28 2,550.28<br />

MEMBERSHIP 14,513.07 14,513.07<br />

GOODWILL #1 * 200.00 200.00<br />

GOODWILL #2 * 1,000.00 1,000.00<br />

TOTAL OPERATING 69,994.68 69,994.68<br />

EXPENSES<br />

REVENUE OVER<br />

(UNDER) EXPENSES $ 80,352.27 $ 80,352.27<br />

* GOODWILL#1 FLAG PINS, NAME TAGS, ETC.<br />

* GOODWILL#2 SCHOLARSHIPS<br />

“Keep <strong>The</strong> Memory Alive”<br />

Unique “hand-crafted” heirlooms of the Forgotten <strong>War</strong><br />

manufactured in the USA by America’s Finest Craftsman<br />

Each Piece individually handcrafted.<br />

(251) 961-1384<br />

Notice: When calling an officer or the editor and you are leaving<br />

a message on an answering machine, speak slowly and leave<br />

your name and phone number twice. We are having problems<br />

responding because of not hearing your phone number clearly.<br />

Lapel pin / Hat-Pin<br />

$10.50<br />

For other exciting gifts, visit our web page www.kwv.org<br />

Send payment with order.<br />

Include $4.50 for S&H Charges. MA residents add 5% Sales Tax.<br />

Price includes deluxe gift box.<br />

Cape-Co. Inc., P.O. Box 7908, North Port, FL 34287<br />

Tel: (941) 426-8117<br />

E-Mail info@kwv.org<br />

“Owned and operated by a <strong>Korean</strong> <strong>War</strong> Veteran”<br />

May/June, 2003 Page 11

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