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Financial Statements
TABLE OF CONTENTS
Page No.
FNANCIAL STATEMENTS
2
Statements of Financial Position
J
Statements of Activities
4
Statements of Cash Flows
5-6
Notes to Financial Statements
128 Carnegie Row, Suite 206
Norwood, MA02062
\ ! r u tge
ntent's Responsibility for the Financial Statements
I ':":nrentis responsible. for the preparation and fair presentation
of these financial
rrvr4r rstatements
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- '-..lt]lt_t ]^tll^it"gunting
principles generally u"r.pt"d in the united States
of America;
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.-- -:-. "ll:_1t""*,
implementation, *a
rnaitrt.nun"" oi int.rnul control relevant to the
t, j-'il].",idJ1l:l]:'^:llilton of financial statements that are free from material rnisstatement,
:: lue to lraud or error.
t-tl,,u.itttt
referred to above present fairly, in all material respects,
,-.' i,, Union as of June 30, 2017, and. the changes in iis net
-r:-:) then ended in accordance with accounting principles
r :.-.:.: f America.
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Li: It""''" .,;
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I
2017
-{SSETS
CTRRENT ASSETS
C"sh 4I,857
D.:es hcome Receivable 672
CLR.RENT LIABILITIES
-dccrued Expenses 5,682
TOTAL CURRENT LIABILITIES 5,692
2017
SL-PPORT
EX?ENSES
4,250
^{rbitration
Conferences, Conventions and N{eetings 19s
Office 386
2017
Increase In
Accrued Expenses 708
POLICIES
l. SUMMARY OF SIGNIFICANT ACCOUNTING
Nature of Activities
formed in
Longy FacultY Union (the Union)
is a nonproht edlcational labor unionto members
2010 *fti"tt pt"tides supporl services
Boston, Massachusetts in February
derived from union member dues'
regarding labor issues' i;nn* t, irimarily
Contributions
Income Tax
under Section
is a nonpro li orgattzation that is exempt from income taxes
The Union
iOr t.l (5) of the Intirnal Revenue Code'
gui
Accounting standards provide detailed
m.urtr.*Jnt and disclosure of uncertain
Continued-
LONGY FACULTY UNION
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2011
Estimates