| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Tax Preparation Fee | 4,576 | 0 | 3,432 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| Bank of New York Mellon Med Term Note | 50,526 | 53,514 |
| Caterpillar Financial Serv Corp Med Term Note Serf | 51,073 | 51,770 |
| ConocoPhillips | 50,509 | 54,313 |
| General Elec Cap Corp | 74,903 | 76,672 |
| General Elec Cap Corp Med Term Note | 50,780 | 51,622 |
| HSBC Bank USA Ser EEM Zero CPN | 150,000 | 157,065 |
| Morgan ST Dean Witter | 123,833 | 133,184 |
| Pepsico Inc | 74,924 | 78,234 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| Home Depot Inc | 18,862 | 22,964 |
| Kohls Corp | 10,093 | 10,325 |
| Target Corp | 13,378 | 16,536 |
| Walt Disney Co | 14,391 | 16,504 |
| CVS/Caremark Corporation | 15,785 | 18,254 |
| Kraft Foods Inc Cl A | 20,747 | 21,742 |
| Pepsico Inc | 15,268 | 16,006 |
| Procter & Gamble Co | 20,630 | 21,229 |
| Apache Corp | 14,120 | 17,288 |
| Baker Hughes Inc Com | 14,234 | 19,438 |
| Chevron Corp | 14,451 | 16,881 |
| ConocoPhillips | 12,397 | 16,003 |
| EOG Resources, Inc | 9,967 | 8,684 |
| Peabody Energy Corporation | 11,191 | 15,675 |
| AFLAC Inc | 20,867 | 26,240 |
| Bank New York Mellon Corp Com | 20,193 | 22,650 |
| Bank of America Corp | 13,734 | 11,873 |
| Berkshire Hathaway Inc | 23,606 | 26,436 |
| JPMorgan Chase & Co | 25,339 | 25,664 |
| State Street Corp | 14,703 | 17,146 |
| UNUM Group | 16,553 | 19,134 |
| Celgene Corp Com | 13,401 | 14,785 |
| Johnson & Johnson | 18,186 | 18,555 |
| Stryker Corp | 13,439 | 14,767 |
| Thermo Fisher Scientific Inc | 12,839 | 15,778 |
| Danaher Corp | 9,818 | 12,736 |
| Deere & Co | 11,949 | 20,347 |
| General Electric Co | 14,164 | 16,278 |
| L-3 Communications Corp Com | 15,716 | 16,213 |
| Precision Castparts Corp | 12,876 | 16,705 |
| Apple Inc | 15,441 | 24,192 |
| Cisco Systems Inc | 14,957 | 12,745 |
| E M C Corp Mass | 8,125 | 9,732 |
| FISERV Inc | 17,278 | 20,789 |
| Hewlett Packard Co | 17,229 | 14,525 |
| Intel Corp Comm | 17,816 | 17,981 |
| International Business Machs Corp Com | 14,670 | 16,877 |
| Microsoft Corp | 18,719 | 17,862 |
| Texas Instruments Inc | 17,069 | 21,775 |
| Carnival Corp | 12,399 | 17,752 |
| Cooper Industries PLC New Ireland | 16,429 | 22,150 |
| Marvell Technology Group | 7,947 | 8,719 |
| Nestle S.A. Registered Shares - ADR Sponsored ADR | 16,096 | 19,999 |
| Novartis AG - ADR Spronsored ADR | 16,135 | 17,980 |
| Schlumberger LTD | 11,821 | 17,118 |
| TEVA Pharmaceutical Industries - ADR Sponsored ADR | 17,325 | 16,421 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| Artio Global High Income-I #1525 | AT COST | 89,653 | 88,748 |
| Goldman Sachs High Yield Fund Institutional Shares #527 | AT COST | 88,800 | 92,598 |
| Principal Preferred Securities Fund Class Ins #4929 | AT COST | 60,602 | 66,847 |
| T Rowe Price Short Term Bond Fund #55 | AT COST | 30,715 | 30,628 |
| Fidelity Advisors Emerging Markets Income Fund Class I | AT COST | 112,813 | 115,243 |
| PIMCO Foreign Bond (Unhedged) Fund #1853 | AT COST | 114,444 | 115,716 |
| Templeton Global Bond Fund - Advisor Class #616 | AT COST | 57,266 | 66,441 |
| AMEX Materials SPDR | AT COST | 31,670 | 37,450 |
| Ishares DJ US Telecommunication Index Fund | AT COST | 11,909 | 14,957 |
| AMEX Utilities SPDR | AT COST | 12,623 | 13,320 |
| Ishares Russell 2000 | AT COST | 43,412 | 60,245 |
| Ishares Russell 2000 Growth Index Fund | AT COST | 37,827 | 80,426 |
| Ishares Russell 2000 Value Index Fund | AT COST | 32,514 | 59,716 |
| Ishares TR Russell Midcap Growth Index Fund | AT COST | 43,114 | 98,218 |
| Ishares TR Russell Midcap Index FD | AT COST | 38,159 | 73,769 |
| Ishares TR Russell Midcap Value Index FD | AT COST | 36,537 | 73,591 |
| Artisan International Fund #661 | AT COST | 143,811 | 217,556 |
| First Eagle Overseas Fund-Class I #902 | AT COST | 54,349 | 60,250 |
| Harbor International Fund Class Institutional #2011 | AT COST | 127,462 | 163,201 |
| Ishares MSCI EAFE | AT COST | 121,776 | 164,180 |
| Vanguard Emerging Markets ETF | AT COST | 86,961 | 102,792 |
| Diamond Hills Long-Short Fund Clss I #11 | AT COST | 75,459 | 79,838 |
| Partners Group Private Equity TEI Fund | AT COST | 100,000 | 100,000 |
| Powershares Listed Private Equity Portfolio | AT COST | 79,944 | 88,311 |
| The Endowment TEI Fund LP | AT COST | 412,507 | 403,955 |
| CB Richard Ellis Realty Trust | AT COST | 181,334 | 217,391 |
| FSP Phoenix Tower Corp | AT COST | 212,943 | 207,500 |
| Ipath Dow Jones-UBS Commodity Index Total Return ETN Due June 12, 2036 | AT COST | 87,952 | 107,327 |
| Madison Harbor Private Equity Fund of Funds | AT COST | 148,860 | 102,231 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Legal Fees | 1,367 | 0 | 0 |
| Description | Amount |
|---|---|
| 2011 Dividends included in current year 1099 | 9,500 |
| 2011 Capital Gains distributions reported in current year 1099 | 1,129 |
| Adjustment for prior year nondividend distribution (basis adjustment) | 32,470 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Annual Report Fees | 62 | 0 | 0 | |
| Insurance | 1,660 | 0 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| Merrill Lynch Class Action Settlement | 173 | 173 | 173 |
| Description | Amount |
|---|---|
| 2010 Dividends not included in current year 1099 | 2,497 |
| Prior year scholarships refunded | 7,200 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| The Endowment Fund | 4,202 | 4,202 | 0 | |
| Bank Fees | 37,189 | 37,189 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Foreign Taxes | 1,649 | 1,649 | 0 | |
| Private Foundation Tax | 688 | 0 | 0 | |
| Estimated tax payments | 1,478 | 0 | 0 |