25.04.2014 Views

Our Warmest Wishes For The Holidays - Korean War Veterans ...

Our Warmest Wishes For The Holidays - Korean War Veterans ...

Our Warmest Wishes For The Holidays - Korean War Veterans ...

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

<strong>Korean</strong> <strong>War</strong> <strong>Veterans</strong> Association Financial Statement: October 2006 – September 2007<br />

BUSINESS<br />

Board of Directors<br />

<strong>Korean</strong> <strong>War</strong> <strong>Veterans</strong> Association, Inc.<br />

Alexandria, LA<br />

We have compiled the accompanying balance sheet and<br />

income statement-cash basis/income tax basis for the twelve<br />

month period ended September 30, 2007 of the <strong>Korean</strong> <strong>War</strong><br />

<strong>Veterans</strong> Association, Inc. and the accompanying supplementary<br />

information which is presented only for supplementary analysis<br />

purposes, in accordance with Statements on Standards for<br />

Accounting and Review Services issued by the American Institute<br />

of Certified Public Accountants.<br />

A compilation is limited to presenting, in the form of financial<br />

statements information that is the representation of management.<br />

We have not audited or reviewed the accompanying financial<br />

statements and accordingly, do not express an opinion or any<br />

other form of assurance on them.<br />

Management has elected to omit substantially all of the disclosures<br />

required by generally accepted accounting principles of the<br />

United States. If the omitted disclosures were included with the<br />

balance sheet and income statement, they might influence the<br />

user’s conclusion about the Company’s financial position.<br />

Accordingly, this balance sheet and income statement is not<br />

designed for those who are not informed about such matters.<br />

We are not independent with respect to the <strong>Korean</strong> <strong>War</strong> <strong>Veterans</strong><br />

Association, Inc.<br />

Oct ‘06 - Sep 07<br />

Ordinary Income/Expense<br />

Income<br />

4000 · Contributions - Support of Gray 3,369.18<br />

4002 · Conventions<br />

4002.a · Convention Registraton & Meals 6,600.00<br />

Total 4002 · Conventions 6,600.00<br />

4003 · Dues<br />

4003.a · Paid by Cash 271,028.22<br />

4003.b · Paid by Credit Card 13,191.40<br />

Total 4003 · Dues 284,219.62<br />

4004 · Donations 2,201.68<br />

4005 · Graybeards Advertising 9,535.00<br />

4006 · Fund Raiser-Net of Expenses<br />

4006.e · Travel & Meals -1,820.19<br />

Total 4006 · Fund Raiser-Net of Expenses -1,820.19<br />

4007 · Sales - Miscellaneous Items 636.17<br />

Total Income 304,741.46<br />

Expense<br />

5000 · Professional services<br />

5000.a · Accounting fees 20,036.22<br />

5000.b · Legal Fees 14,849.32<br />

5000.c · Other 10,872.59<br />

Total 5000 · Professional services 45,758.13<br />

5001 · Other Fund Raisers<br />

5001.a · Decals & Patches -19.00<br />

5001.b · Other 1,121.50<br />

Total 5001 · Other Fund Raisers 1,102.50<br />

5002 · Bank charges 3,120.38<br />

5007 · Web site 16,494.63<br />

5008 · Depreciation 2,877.66<br />

5009 · Donation -<strong>Veterans</strong> Org 500.00<br />

5014 · Graybeards Magazine<br />

5014.a · Editing 12,000.00<br />

5014.b · Printing/Publishing 121,360.74<br />

5014.c · Postage 40,718.33<br />

Total 5014 · Graybeards Magazine 174,079.07<br />

5015 · Insurance<br />

5015.b · Directors and Officers 6,401.40<br />

5015.d · Other 28.50<br />

Total 5015 · Insurance 6,429.90<br />

5016 · Judge advocate 342.12<br />

5017 · Membership Office<br />

5017.a · Secretarial Services 18,246.53<br />

5017.b · Telephone 2,859.04<br />

5017.c · Postage 8,715.95<br />

5017.d · Membership Cards/Supplies 7,851.75<br />

5017.e · Other 626.71<br />

Total 5017 · Membership Office 38,299.98<br />

5019 · Meetings and conventions<br />

5019.a · Travel 31,799.94<br />

5019.b · Recorder 7,828.10<br />

5019.c · Hotel Charges 13,547.24<br />

5019.d · Entertainment 3,718.63<br />

5019.e · Other 1,386.31<br />

Total 5019 · Meetings and conventions 58,280.22<br />

5021 · Headquarters Expense<br />

5021.a · Travel 27,154.10<br />

5021.b · Telephone 1,832.14<br />

5021.c · Supplies & Postage 5,681.43<br />

5021.d · Other 5,641.63<br />

Total 5021 · Headquarters Expense 40,309.30<br />

5022 · Miscellaneous<br />

5022.a · Chapter Development Expenses 59.59<br />

5022.b · Other Expenses 3,275.96<br />

5022.c · Reimbursed Expenses 1,055.13<br />

Total 5022 · Miscellaneous 4,390.68<br />

5023 · Elections 2,225.70<br />

5024 · Travel<br />

5024.a · President 6,871.21<br />

Total 5024 · Travel 6,871.21<br />

5031 · Telephone/Supplies/Postage<br />

5031.a · Office of the President 1,107.51<br />

5031.b · Other 307.46<br />

Total 5031 · Telephone/Supplies/Postage 1,414.97<br />

5032 · Credit Card expense 112.06<br />

Total Expense 402,608.51<br />

Net Ordinary Income -97,867.05<br />

Other Income/Expense<br />

Other Income<br />

7001 · Dividends 8,295.84<br />

7002 · Interest Income 15,842.80<br />

7004 · Unrealized Gain(Loss) Invstmnts 22,206.37<br />

7005 · Royalty Income 1,500.03<br />

Total Other Income 47,845.04<br />

Net Other Income 47,845.04<br />

Net Income -50,022.01<br />

13<br />

<strong>The</strong> Graybeards November-December 2007

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!