| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| MTB INTERMEDIATE TERM BOND | |||
| MTB SHORT TERM CORP BOND#518 | AT COST | 29,609 | 30,249 |
| HARBOR INTERNATIONAL FD #11 | AT COST | 11,838 | 19,196 |
| CRM MID CAP VALUE FD INSTL #32 | |||
| MTB INTL EQ INST FD #270 | AT COST | 35,536 | 33,658 |
| MTB LGE CAP VAL INST #327 | AT COST | 21,228 | 23,222 |
| VANGUARD INSTITUTIONAL INDEX # | |||
| MTB INCOME INST I #143 | AT COST | 48,985 | 48,845 |
| T ROWE PRICE INSTIT LG CAP GRW | AT COST | 11,643 | 14,922 |
| ALPINE INTL REAL EST EQTY FUND | |||
| HARBOR CAP APPRECIATION | |||
| MTB CAP GRWTH #299 | AT COST | 24,469 | 23,908 |
| MTB SM CAP GRWTH #555 | AT COST | 11,706 | 10,871 |
| LAZARD EMERGING MKTS | AT COST | 8,301 | 10,788 |
| MASTERS SELECT INTL FUND #306 | AT COST | 8,369 | 11,344 |
| GOLDMAN SACHS HI YLD INSTIT | |||
| RIDGEWORTH SEIX FLOATING RATE | AT COST | 14,211 | 13,940 |
| MTB MID CAP GRWTH #401 | AT COST | 12,148 | 14,325 |
| GUINNESS ATKINSON CHINA &HK | AT COST | 2,020 | 3,680 |
| DREYFUS INTL BOND FUND | FMV | 10,184 | 10,237 |
| MFS EMERGING MKTS | AT COST | 6,550 | 6,803 |
| ARTIO GLOBAL HI INCOME | AT COST | 3,401 | 3,430 |
| LSV VALUE EQUITY FUND | AT COST | 26,920 | 28,874 |
| MORGAN STANLEY FOCUS | AT COST | 14,001 | 14,790 |
| ALPINE GLOBAL PREMIER | AT COST | 4,165 | 7,047 |
| ING CLARION GLOBAL REAL ESTATE | AT COST | 3,556 | 3,612 |
| MAINSTAY EPOCH | AT COST | 3,184 | 3,563 |
| RS GLOBAL NATURAL RESOURCES | AT COST | 5,882 | 7,616 |
| SPDR S&P DIVIDEND | AT COST | 3,946 | 4,054 |
| Description | Amount |
|---|---|
| ROUNDING ADJUSTMENT | 2 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL TAXES PRIOR YEAR BALAN | 41 | 0 | 0 | |
| FOREIGN TAXES ON QUALIFIED FOR | 155 | 155 | 0 | |
| FOREIGN TAXES ON NONQUALIFIED | 5 | 5 | 0 |