| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| TAX PREPARATION FEE | 870 | 435 | 435 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BANK OF AMERICA CORP 4.875% | 25,425 | 25,161 |
| GOLDMAN SACHS GROUP INC | 25,000 | 24,607 |
| PFIZER INC 5.35% | 26,036 | 28,280 |
| SBC COMMUNICATIONS 5.1% | 25,378 | 27,536 |
| TARGET CORP 5.125 % | 48,675 | 52,338 |
| TSY INFL IX N/B | 29,387 | 31,876 |
| TSY INFL IX N/B | 29,238 | 29,718 |
| CISCO SYS INC 3.15 | 25,568 | 27,135 |
| JP MORGAN CHASE & CO 3.15 | 25,499 | 25,117 |
| ORACLE CORP NT 4.95 | 26,957 | 26,401 |
| WAL MART STORES 1.625 | 25,289 | 25,550 |
| TOTAL CAPITAL SA 3.125 | 26,030 | 26,476 |
| GENERAL ELEC CAP CORP 6.45 | 26,020 | 25,880 |
| PNC CAPITAL TRUST 7.75 | 23,647 | 26,130 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ABBOTT LABS | 7,612 | 8,941 |
| APACHE CORP | 5,539 | 5,797 |
| APPLE INC | 5,651 | 13,770 |
| BARD C R INC | 3,678 | 4,019 |
| CHEVRON CORPORATION | 6,425 | 10,427 |
| COCA COLA CO | 5,196 | 8,676 |
| COMCAST CORP CL A | 6,077 | 7,919 |
| EXXON MOBIL CORP | 3,124 | 4,492 |
| FEDEX CORPORATION | 7,928 | 7,850 |
| GILEAD SCIENCES INC | 9,529 | 8,309 |
| GOOGLE INC | 10,224 | 12,918 |
| INTERNATIONAL BUSINESS MACHS | 5,698 | 12,320 |
| JP MORGAN CHASE | 9,540 | 9,742 |
| KOHLS CORP | 4,945 | 5,083 |
| MASTERCARD INC | 5,068 | 12,303 |
| MCKESSON CORPORATION | 4,229 | 5,454 |
| MEDCO HEALTH SOLUTIONS | 2,876 | 4,137 |
| MEDTRONIC INC | 10,029 | 8,453 |
| MICROSOFT CORP | 4,925 | 4,699 |
| MYLAN INC | 7,561 | 8,262 |
| NATIONAL-OILWELL INC | 5,137 | 9,655 |
| NORFOLK SOUTHN CORP | 6,183 | 9,545 |
| ORACLE CORPORATION | 3,461 | 5,412 |
| PHILIP MORRIS | 6,139 | 9,732 |
| SCHULMBERGER LTD | 10,619 | 9,837 |
| SPECTRA ENERGY CORP | 2,132 | 4,551 |
| STARBUCKS CORP | 4,733 | 8,880 |
| WELLPOINT INC | 3,676 | 4,505 |
| YUM BRANDS INC | 6,045 | 9,206 |
| ISHARES RUSSELL 2000 INDEX FD | 36,998 | 51,625 |
| JOY GLOBAL INC | 7,414 | 7,047 |
| MDU RES GROUP INC | 7,070 | 7,769 |
| PACKAGING CORP AMER | 10,602 | 10,929 |
| ROGERS COMMUNICATIONS INC | 4,112 | 4,506 |
| MARVELL TECHNOLOGY | 7,937 | 6,274 |
| ISHARES TR MSCI EMERGING MRKTS | 12,675 | 15,176 |
| NOBLE CORPORATION | 4,309 | 3,536 |
| AMERIPRISE FINANCIAL INC | 6,947 | 5,361 |
| CAPITAL ONE FINL CORP | 6,336 | 5,878 |
| DEERE & CO | 4,322 | 4,254 |
| HONEYWELL INTL INC | 8,926 | 8,805 |
| KELLOGG CO | 7,937 | 7,586 |
| MOODYS CORP | 7,766 | 8,151 |
| PNC FINANCIAL SERVICES GROUP | 9,330 | 8,593 |
| SLM CORP | 4,085 | 4,382 |
| SANDISK CORP | 7,631 | 8,464 |
| VERIZON COMMUNICATIONS | 4,169 | 4,654 |
| ALLIANT CORP | 10,723 | 12,263 |
| ATMEL CORP | 9,905 | 6,132 |
| CNO FINL GROUP INC | 7,394 | 6,461 |
| EAST WEST BANCORP INC | 9,937 | 8,986 |
| F5 NETWORKS | 4,350 | 4,351 |
| ROCKWOOD HLDGS | 6,829 | 6,299 |
| WALTER ENERGY INCORPORATED | 8,476 | 4,360 |
| ANHEUSER BUSCH | 7,878 | 8,356 |
| ISHARES MSCI EAFE INDEX | 49,976 | 39,624 |
| UNILEVER N V-NY SHARES | 8,632 | 9,452 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| PIMCO ALL ASSET AUTH FUND | AT COST | 50,936 | 46,906 |
| PIMCO COMMODITY REAL RETURN | AT COST | 17,306 | 11,821 |
| T ROWE PRICE RL EST FUND | AT COST | 9,936 | 10,450 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 2,500 | 1,250 | 1,250 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| PENN MUTUAL LIFE INS ANNUITY | 545,379 | 545,379 | 497,756 |
| ACCRUED INCOME | 11 | 0 | 0 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BANK SERVICE FEES | 10,667 | 10,667 | 0 | |
| BANK SERVICE FEES | 10,668 | 10,668 | 0 | |
| OTHER MISC INVESTMENT EXPENSES | 15 | 15 | 0 | |
| OTHER MISC CHARITABLE EXPENSES | 5 | 0 | 5 | |
| ADMIN/OFFICE EXPENSES | 269 | 269 | 269 | |
| INSURANCE PREMIUMS PAID | 1,094 | 1,094 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 840 | 420 | 420 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES PAID | 119 | 119 | 0 | |
| FEDERAL EXCISE TAX - PRIOR YEA | 140 | 0 | 0 | |
| FEDERAL EXCISE TAX ESTIMATE | 308 | 0 | 0 | |
| FOREIGN TAXES ON QUALIFIED FOR | 172 | 172 | 0 | |
| FOREIGN TAXES PAID - NQDI | 6 | 6 | 0 |