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) exhibition and sales of members' art (referred to as Exhibition) 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 exhibit hall, and handle the sales of art to the public. Art on exhibit is considered the property of the member artists, not the Art League.

The post-closing trial balance for the Art League as of June 30, 2019, is shown here.

ART LEAGUE Post-closing Trial Balance June 30, 2019 Debits Credits Cash $ 2,945 Shortterm Investments 12,311 Grants Receivable 4,800 Prepaid Expense 1,090 Equipment 9,445 Allowance for DepreciationEquipment $ 2,446 LongTerm InvestmentsWith Donor Restrictions 5,787 Accounts Payable and Accrued Expenses 2,669 Deferred Revenue 3,000 Net Assets Without Donor Restrictions 9,031 Net Assets With Donor RestrictionsPrograms 13,445 Net Assets With Donor RestrictionsPermanent Endowment 5,787 Totals $36,378 $36,378