Assets - include the value of any cash held by the club, excluding petty cash held off the books, plus the cost basis of any investments held by the club as of the report date.

Member Capital Accounts - is the adjusted cost basis of the member's accounts in the club. This adjusted cost basis equals the amount that the current club members have paid into the club less the cost basis associated with member withdrawals to date, plus/minus an adjustment for each year end allocation (distribution) of earnings.

Unrealized (Gains) / Losses Disbursed - is the cumulative result of member withdrawals where the club's cost basis of assets distributed is more or less than the difference between the withdrawing member's adjusted basis before the withdrawal and the member's remaining basis after the withdrawal.

For example, Member A has an 100 units in the club and a current unit value of $15. His adjusted cost basis at the time of withdrawal is $1000. Since this is a total withdrawal, Member A will have a $0 basis remaining after withdrawal. The club issues Member A $500 worth of XYZ stock that has a cost basis to the club of $400, plus $1000 cash to pay off the $1500 withdrawal. Therefore, the club's cost basis of the assets distributed is $400 in stock plus $1000 in cash for a total of $1400. The difference between the club's $1400 cost basis of assets distributed and the withdrawing members $1000 basis withdrawn will be reflected as a $400 unrealized gain that was disbursed. Had the club issued Member A $1500 dollars worth of stock that had a cost basis to the club of $500, the result would have been an unrealized loss disbursed of $500. Ultimately, when the club dissolves by liquidating its assets and/or transferring its portfolio to its members, this value of Unrealized (Gains) / Losses Disbursed will return to zero, as will all the values on the balance sheet.

Unallocated Earnings - (Losses) - equals the total of any income, interest, dividends, expenses, or capital gains/losses realized year to date by the club that have not been allocated to the club members. Earnings are allocated at the end of each year in accordance with your selected Allocation Method Therefore, any full year Balance Sheet Report will indicate zero under Unallocated Earnings - (Losses) because all realized earnings have been allocated to the club members and the Member Capital Accounts adjusted accordingly. Partial year Balance Sheet Reports will reflect any earnings that have been realized by the club that will subsequently be allocated at year end.