GREATER LOUISVILLE MEDICAL SOCIETY STATEMENT OF ACTIVITIES JANUARY – DECEMBER 2016
GREATER LOUISVILLE MEDICAL SOCIETY STATEMENT OF FINANCIAL POSITION DECEMBER 31 , 2016
CHANGES IN NET ASSETS Dues $ 684,536 Louisville Medicine advertising 93,245 GLMS News advertising 25,895 Roster sales & advertising 181,856 CAPS 597,235 Society office services 1,608 Sponsorship revenue 3,700 Admin . fee from Medical Society Professional Services
54,996 Admin . fee from GLMS Foundation 54,000 Vital Signs 60,305 Other operating revenue 14,015 Total Operating Revenue 1,771,391
Investment Income 66,016
Total Revenues $ 1,837,407
Program Service Expense Committee & General Administration $ 818,181 Louisville Medicine 170,082 GLMS News 48,731 Roster 168,658 CAPS 515,657 Society office services 178 Sponsorship 5,509 Vital Signs 17,637 Website 15,307 Total Expenses $ 1,759,940
Net increase in unrestricted net assets 77,467
ASSETS CURRENT ASSETS Cash / cash equivalents |
$ |
502,676 |
Accounts receivable |
|
139,266 |
Prepaid expenses |
|
16,152 |
INVESTMENTS AND OTHER ASSETS Investment at market value |
|
2,453,677 |
Annuity contracts |
|
62,739 |
PROPERTY AND EQUIPMENT Leasehold improvements |
|
116,801 |
Office equipment |
|
283,369 |
Less accumulated depreciation |
|
( 264,762 ) 105,408 |
TOTAL ASSETS |
$ |
3,277,918 |
|
Liabilities and Net Assets
CURRENT LIABILITIES Accounts payable
|
|
162,083 |
Accrued expenses |
|
2,079 |
Unearned income |
|
291,900 |
DEFERRED RETIREMENT BENEFITS |
|
62,739 |
NET ASSETS Unrestricted |
|
2,759,117 |
TOTAL LIABILITIES AND NET ASSETS |
$ |
3,277,918 |
Gain ( loss ) on sale of investments 60,648 Unrealized gain ( loss ) on marketable investments 58,270
Changes in net assets $ 196,385
26 LOUISVILLE MEDICINE