TCMA Annual Report 2021 65 Current Period Prior Period Audited Audited Income January 1 - December 31, 2021 January 1 - December 31, 2020 Membership fee and expense contribution from members 15,275,422 11,886,154 Operating income 910,104 188,160 Non-operating income 8,887,024 4,198,080 Surplus income of previous year 1,052,962 43,904 Other income 2,690,367 1,892,942 TCMS congress income 2,431,289 - Total income 31,247,168 18,209,240 Expenses Personnel expenses (13,994,965) (9,371,501) Expenses for acquisition of subsidiaries and investments - (2,066,256) Advertisement and meeting expenses (2,010,970) (1,596,131) Outsourced services (1,260,249) (932,386) Information technology expenses (741,720) (759,921) Membership fees expenses (556,788) (512,043) Board of director’s fee (498,000) (440,700) Research and publication expenses (246,219) (159,585) Training, courses and seminars expenses (407,467) (71,887) Travel and accommodation expenses (9,669) (32,569) Fixed assets and purchases expenses (64,162) (84,223) Other expenses (683,514) (819,251) TCMS congress expenses (1,489,333) - Total expenses (21,963,056) (16,846,453) Income surplus 9,284,112 1,362,787 Provision for taxes and other legal liabilities (-) - - Net income surplus 9,284,112 1,362,787 ASSOCIATION OF TURKISH CAPITAL MARKETS AND ITS OPERATING ENTITY CONSOLIDATED STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED DECEMBER 31, 2021 (CURRENCY – TURKISH LIRA (TL)) (CONVENIENCE TRANSLATION OF A REPORT AND CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)
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