The Art League is a not-for-profit organization dedicated to promoting the arts within the community. There are two programs conducted by the Art League: (1) exhlbition and sales of members' art (referred to as Exhlbition) and (2) Community Art Education. Activities of the Art League are conducted by a part-time administrator a part-time secretary-bookkeeper, and several part-time volunteers. The volunteers greet visitors, monitor the security of the exhiblt hall, and handle the sales of art to the public. Art on exhiblt Is consldered the property of the member artists, not the Art League The post-closing trlal balance for the Art League as of June 30, 2016, Is shown here ART LEAGUE Post-closing Trial Balance June 30, 2016 Debits Credits 2,385 13,911 6,400 1,330 10,245 Cash Short-term Investments Grants Recelvable Prepald Expense Equipment Allowance for Depreclation-Equlpment Long-term Investments-Permanently Restricted 5,947 Accounts Payable and Accrued Expenses Deferred Revenue Unrestricted Net Assets Temporarlly Restricted Net Assets Permanently Restricted Net Assets $2,606 2,829 4,600 9,191 15,045 5,947 Totals $40,218 $40,218 The Art League is a not-for-profit organization dedicated to promoting the arts within the community. There are two programs conducted by the Art League: (1) exhlbition and sales of members' art (referred to as Exhlbition) and (2) Community Art Education. Activities of the Art League are conducted by a part-time administrator a part-time secretary-bookkeeper, and several part-time volunteers. The volunteers greet visitors, monitor the security of the exhiblt hall, and handle the sales of art to the public. Art on exhiblt Is consldered the property of the member artists, not the Art League The post-closing trlal balance for the Art League as of June 30, 2016, Is shown here ART LEAGUE Post-closing Trial Balance June 30, 2016 Debits Credits 2,385 13,911 6,400 1,330 10,245 Cash Short-term Investments Grants Recelvable Prepald Expense Equipment Allowance for Depreclation-Equlpment Long-term Investments-Permanently Restricted 5,947 Accounts Payable and Accrued Expenses Deferred Revenue Unrestricted Net Assets Temporarlly Restricted Net Assets Permanently Restricted Net Assets $2,606 2,829 4,600 9,191 15,045 5,947 Totals $40,218 $40,218