Handcrafts Unlimited

“Expenses advertising and promotion 1,190 insurance 1,582 bank & cc fees 3,732 filing fees 5 miscellaneous 321 postage 363 quilt class & show 1,815 repairs & maintenance 1,589 supplies 3,981 telephone 1,806 utilities 4,916 non-investment depreciation 559 total 21,859”

“Lh improvements, fixtures & equip 45,982 46,422 less accumulated depreciation 44,632 45,191 deposits 405 405 total 1,755 1,636”

“Accounts payable and accrued expenses 23,520 24,869”

“This organization was created to provide a program whereby senior citizens may continue to be productive members of the local community by furnishing a retail outlet where they may market their crafts on a consignment basis. The organization retains a percentage of the sales proceeds to cover only the occupancy and administrative costs associated with the program. The senior citizens also volunteer their time to operate the retail establishment. Thus, the organization serves over 300 seniors in the community and provides a retail venue for the sale of handcrafted items and gifts to the general public.”

“Expenses reported are to provide a retail outlet where seniors may market their handcrafted items on a consignment basis. Thus, the expenses include those related to the operation of a retail establishment. In addition, to occupancy expenses and a small amount of amdinistrative costs, the organization's other major expense is the purchase of hand-crafted resale goods from the artisans. The purchase price is determined by the gross sales price less a percentage to cover only the occupancy and administrative costs associated with the program. No labor is associated with the program as the senior citizens also volunteer their time to operate the retail establishment as part of the program.”