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5

BLACK ACADEMY OF ARTS AND LETTERS, INC.  
NOTES TO FINANCIAL STATEMENTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1972

NOTE 1  Revenue

The amount received from foundations includes $50,000 for general operating budget, $20,000 for the Chicago conference and $1,250 for the purchase of Langston Hughes' house.  Also, included in revenue received from individuals and groups is an amount of $2,635 earmarked for the purchase of the house.   

NOTE 2  Chicago Conference

As reflected in the records of the Academy, $24,734 has been expended for this conference.  Additional expenses have been paid direct by Johnson Publications and will be reflected in the financial statements when they become known.     
 

LUCAS, TUCKER & CO.
CERTIFIED PUBLIC ACCOUNTANTS
 

Transcription Notes:
Do not denote underline per SI's instructions