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EXHIBIT B 3 BLACK ACADEMY OF ARTS AND LETTERS, INC. STATEMENT OF OPERATIONS FOR THE FISCAL YEAR ENDED DECEMBER 31, 1970 Revenue: [[4 Columned Table]] Contributions | | $ 890.00 | | Grant income form 20th Century Fund | | $ 50,000.00 | | Interest income | | $ 1,445.87 | | Other income | | $ 87.94 | | Total revenue | | | $ 52,423.8? | Expenditures: [[4 Columned Table]] Salaries | $ 20,858.44 | | | Employee health benefits | 136.20 | | | Payroll taxes | 1,102.35 | | | | --- | | | Total Employee Compensation | | $ 22,096.99 | | professional fees | | 853.16 | | Supplies | | 1,570.98 | | Telephone and telegraph | | 1,462.35 | | Postage and shipping | | 317.40 | | Occupancy costs | | 2,980.90 | | Conferences and conventions | | 3,854.90 | | Subscriptions | | 114.00 | | Miscellaneous | | 1,005.31 | | Special events expense (after applying | | | | income of $18,510.00) | | 4,713.07 | | | | --- | | Total Expenditures | | | 39,268.8? | | | | --- | Excess of revenue over expenditures | | | $ 13,154.9? | | | | --- | [[Footnote/letterhead]] LUCAS, TUCKER & CO. CERTIFIED PUBLIC ACCCOUNTANTS