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[[underlined]] APPENDIX A [[/underlined]]

THE AMERICAN FEDERATION OF ARTS
COMPARATIVE OPERATING STATEMENT
1957 - 1958

[[4 column table]]
[[headings are underlined]]

[[income and expense]] | BUDGETED 1957 | ACTUAL 1957 | BUDGETED 1958

[[underlined]] INCOME [[/underlined]]
Membership | 31,000 | 39,789 | 38,000
Exhibition Fees | 33,000 | 37,775 | 45,000
Special Fees | [[underlined]]15,000 | 15,015 | 13,000[[/underlined]]
Total Income | [[underlined]]79,000 | 92,579 | 96,000[[/underlined]]

[[underlined]] EXPENSE [[/underlined]]
Salaries | 55,400 | 54,966 | 59,000
Handling | 20,000 | 19,966 | 20,000
Insurance | 6,000 | 5,464 | 7,000
Promotion | 5,000 | 6,390 | 7,000
Office | 18,000 | 19,169 | 18,000
Art News | 7,500 | 8,517 | 9,000
Travel | [[underlined]]1,000 | 823 | 1,000[[/underlined]]
Total Expense | [[underlined]]112,900 | 115,183 | 121,000[[underlined]]

Operating Deficit | [[double underlined]]33,900 | 22,604 | 25,000[[/double underlined]]
[[/table]]

Note: Operations for the First 4 months of1958 show a strong increase in income from exhibition fees, and a leveling off of income from membership. Expenses for the same period are somewhat higher than for the corresponding period of 1957. The operating deficit on May 1st was $1,642. This deficit will climb rapidly during the summer months when exhibition bookings drop off severely. From current rends, it appears that the actual deficit will not exceed the budgeted amount of $25,000, and will probably be somewhat less.  
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