Louisville Medicine Volume 61, Issue 12 | Page 29

Greater Louisville Medical Society Statement of Activities January-December 2013 Changes in net assets Greater Louisville Medical Society Statement of Financial Position December 31, 2013 ASSETS Dues $ 710,712 Louisville Medicine advertising 189,390 CURRENT ASSETS GLMS News advertising 34,616 Cash/cash equivalents $ 1,880,908 Roster sales & advertising 235,412 Accounts receivable 176,097 Centralized Application Processing Service 667,493 Prepaid expenses 21,225 Society office services 2,239 2,078,230 Sponsorship revenue 9,060 INVESTMENTS AND OTHER ASSETS Administrative fee from Medical Society Professional Services 54,996 Investments at market value Administrative fee from GLMS Foundation 1,137,755 Annuity contracts 66,486 45,000 Vital Signs 80,406 Website advertising 3,290 Other operating revenue 8,310 Total operating revenue 2,040,924 PROPERTY AND EQUIPMENT Leasehold improvements 116,801 Office equipment 203,621 Less accumulated depreciation (299,542) 20,880 Investment income 36,902 Total revenues $ 2,077,826 TOTAL ASSETS $3,303,351 LIABILITIES AND NET ASSETS Program service expense Committee and general administration $ 922,562 CURRENT LIABILITIES Louisville Medicine 179,976 Accounts payable $ 117,898 GLMS News 89,286 Accrued expenses 31,646 Roster 174,235 Centralized Application Processing Service 604,570 Unearned income 512,492 662,036 Society office services 1,069 Sponsorship 1,726 Vital Signs DEFERRED RETIREMENT BENEFITS 66,486 18,400 Website 11,950 Mobile app 7,167 Total expenses NET ASSETS Unrestricted 2,574,829 2,010,941 Net increase in unrestricted net assets 66,885 Gain (loss) on sale of investments 62,255 Unrealized gain (loss) on marketable investments 30,334 Changes in net assets 159,474 $ TOTAL LIABILITIES AND NET ASSETS $ 3,303,351