| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING | 1,675 | 0 | 1,675 |
| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|---|---|---|---|---|---|---|---|---|
| FURNITURE, FIXTURES, & EQUIPMENT | 6,116 | 5,989 | 0 % | 86 | 0 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| GENL ELEC CAP 5.5 11/15/11 | 250,238 | 254,396 |
| GOLDMAN SACHS 5.7 9/1/12 | 252,993 | 267,353 |
| MORGAN STANLEY 5.625 1/9/12 | 151,352 | 156,510 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BROWN & BROWN | 52,497 | 311,220 |
| KAYDON | 0 | 0 |
| PROTECTIVE LIFE | 225,488 | 211,788 |
| WHITE MTNS INSURANCE | 93,153 | 266,802 |
| IDEX | 64,015 | 205,380 |
| ZEBRA TECHNOLOGIES | 214,485 | 326,714 |
| ROSS STORES | 57,272 | 284,625 |
| JOHN WILEY & SONS | 115,508 | 208,104 |
| MARTIN MARIETTA MATERIALS | 0 | 0 |
| YUM BRANDS | 43,727 | 196,200 |
| HEARTLAND EXPRESS | 162,290 | 179,424 |
| MOHAWK INDUSTRIES | 268,221 | 195,822 |
| WESTAMERICA BANK | 132,926 | 144,222 |
| AMBASSADORS GROUP | 178,692 | 74,750 |
| BED BATH & BEYOND | 165,642 | 219,946 |
| TCF FINANCIAL | 254,468 | 185,125 |
| ILLINOIS TOOL WORKS | 214,299 | 245,640 |
| JOHNSON & JOHNSON | 208,217 | 204,105 |
| KNIGHT TRANSPORTATION | 127,848 | 157,700 |
| MARKEL | 223,174 | 207,972 |
| MEDNAX | 183,150 | 269,160 |
| EOG RESOURCES | 109,475 | 146,256 |
| PATTERSON COMPANIES | 172,436 | 260,355 |
| XILINX | 143,139 | 173,880 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| VANGUARD 500 INDEX | AT COST | 670,458 | 679,654 |
| T ROWE PRICE EQUITY INDEX 500 | AT COST | 687,840 | 695,348 |
| BROADWAY BANK CD 5.1 4/29/11 | AT COST | 0 | 0 |
| FIRST BUSINESS BK CD 5.1 6/7/10 | AT COST | 0 | 0 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| FURNITURE, FIXTURES, & EQUIPMENT | 6,116 | 6,075 | 41 | 0 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| POSTAGE | 154 | 0 | 154 | |
| INSURANCE | 2,954 | 0 | 2,954 | |
| OFFICE | 265 | 0 | 265 | |
| NYS DOL FILING FEE | 250 | 0 | 250 | |
| MISCELLANEOUS | 135 | 0 | 135 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| EXCISE TAX PAYABLE | 0 | 2,748 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MANAGEMENT FEES | 46,074 | 46,074 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL EXCISE TAX | 7,540 | 7,540 | 0 | |
| PAYROLL TAX | 69 | 0 | 69 |