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3 EXHIBIT B BLACK ACADEMY OF ARTS AND LETTERS, INC. STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1972 UNAUDITED Revenue: (Note 1) Foundations $71,250 Individuals and groups 3,758 Interest income 52 ------- Total Revenue $75,060 Expenditures: Salaries $18,952 Employee health benefits 220 Payroll taxes 1,346 ------- Total Employee Compensation 20,518 Professional fees 1,510 Supplies 542 Telephone and telegraph 2,525 Postage and shipping 633 Occupancy 2,445 Outside printing and publications 181 Local travel 384 Major travel meetings and conventions 4,823 Subscriptions 277 Purchase of office equipment 607 Rental of office equipment 71 Equipment repairs 153 Special events expenses Annual meeting 790 Chicago Conference (Note 2) 24,734 Buck and the Preacher 396 Essence party 639 Carnegie Conference 734 Banquet 2,790 30,083 ------ Miscellaneous 1,966 ------ Total Expenses 66,716 Excess revenue over expenditures 8,342 Fund balance December 31, 1971 20,106 ------- Fund balance September 30, 1972 $28,448 ------- LUCAS, TUCKER & CO. CERTIFIED PUBLIC ACCOUNTANTS