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DocuSign Envelope ID: 7FB82F39-7614-4970-85EE-75887FBF57E6 <br /> 4.28 PM FRANK <br /> 05/06/16 Profit & Loss <br /> Accrual Basis January through December 2014 <br /> Jan-Dec 14 <br /> Ordinary Income/Expense <br /> Income <br /> SALES 113,814.30 <br /> EVENTS 33,276.12 <br /> GRANTS 8,500.00 <br /> • <br /> MEMBERSHIP DUES&FEES 5,340.00 <br /> DONATIONS 22,263.41 <br /> Frank Items-T Shirts,Etc. 95,00 <br /> Gallery Rental 400.00 <br /> Total Income 183,688.83 <br /> Cost of Goods Sold <br /> Bank Processing Fees for MC etc 4,046.43 <br /> Discounts/Errors on Sales 25.00 <br /> Commissions 69,210.34 <br /> Total COGS 73,281.77 <br /> Gross Profit 110,407.06 <br /> Expense <br /> Back Up for QB 39.80 <br /> Fundraising-Direct Costs 165,77 <br /> Event Expenses 12,305.60 <br /> Grant Expenses 2,832.24 <br /> Advertising&Marketing 9,767.59 <br /> Computer Expenses 494.95 <br /> Dues&Subscriptions 40.75 <br /> Electric 4,317.04 <br /> Equipment Rental 64.95 <br /> Gallery Supplies&Expense 2,704.35 <br /> Insurance 4,921.46 <br /> Interest Expense 1,320.25 <br /> Licenses&Permits 65,00 <br /> Misc Expenses -37.39 <br /> Office Supplies 1,463,90 <br /> Payroll 33,227.27 <br /> Payroll Taxes&Process Fee 2,574.69 <br /> Postage 1,074.95 <br /> Printing 68.00 <br /> Professional Dues 50.00 <br /> Professional Fees 217.38 <br /> Reconciliation Discrepancies 0.09 <br /> Rent 36,000.00 <br /> Repairs&Maintenance 618.02 <br /> Shipping Fees 557.03 <br /> Staff Development 360.00 <br /> Telephone&Internet 1,454.83 <br /> Total Expense 116,668.52 <br /> Net Ordinary Income -6,261.46 <br /> Other Income/Expense <br /> Other Income <br /> TAX REFUND 132.04 <br /> Total Other Income 132.04 <br /> Other Expense <br /> Other Exp-Rent Deferred 32,748.36 <br /> Depreciation Expense 3,121.08 <br /> Total Other Expense 35,869.44 <br /> Net Other Income -35,737.40 <br /> Net Income -41,998.86 <br /> Page 1 <br />