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