| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 5,765 | 2,883 | 2,882 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| WEYERHAEUSER | 0 | 0 |
| DELL INC | 0 | 0 |
| CANADIAN IMP BK COMM | 0 | 0 |
| WYETH SR | 0 | 0 |
| BERKSHIRE HATHAWAY FIN CORP | 127,552 | 128,118 |
| ANDREW W MELLON FOUNDATION | 130,221 | 127,548 |
| NORFOLK SOUTHERN CORP | 132,537 | 129,151 |
| YALE UNIVERSITY MTN | 31,542 | 30,591 |
| WELLS FARGO & CO NEW SUB | 207,198 | 207,552 |
| BERKSHIRE HATHAWAY INC | 204,624 | 206,140 |
| GOLDMAN SACHS GRP INC | 131,474 | 132,016 |
| MEDTRONIC INC | 128,822 | 128,972 |
| FRANKLIN RESOURCES INC | 127,648 | 128,923 |
| WAL-MART STORES INC | 203,344 | 205,290 |
| MEDCO HEALTH SOLUTIONS INC | 100,499 | 103,227 |
| ROYAL BK OF CDA BD CDS | 126,675 | 129,593 |
| UNION PAC CORP DEB | 142,652 | 139,655 |
| COMCAST CORP MOTES MAKE WHOLE | 210,513 | 218,386 |
| CAMPBELL SOUP CO | 204,126 | 208,618 |
| STRYKER CORP | 99,975 | 108,076 |
| BURLINGTON NORTHERN SANTA FE | 275,813 | 274,253 |
| WALGREEN CO NOTES | 256,001 | 251,539 |
| OLIN CORP NOTE | 56,463 | 54,125 |
| ESTERLINE TECHNOLOGIES CORP | 165,406 | 162,000 |
| PUGET ENERGY INC | 111,149 | 111,829 |
| BANK OF AMERICA CORP | 224,787 | 225,817 |
| HJ HEINZ CO | 254,446 | 251,837 |
| STARBUCKS CORP | 357,810 | 355,386 |
| WASTE MANAGEMENT | 60,535 | 60,517 |
| MIDAMERICA ENERGY CO | 231,976 | 229,502 |
| NORDSTROM INC | 102,498 | 102,570 |
| PUBLIC SVC ELECTRIC & GAS | 151,061 | 149,372 |
| PUGET SOUND ENERGY INC | 111,296 | 110,763 |
| SOUTHWESTERN BELL TEL CO | 114,172 | 114,316 |
| TIME WARNER CABLE INC | 107,529 | 109,070 |
| UNION PACIFIC CORP | 158,317 | 152,707 |
| CLOROX COMPANY NOTES | 209,985 | 210,018 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| FIRST NATL BK ALASKA | 48,690 | 52,530 |
| VERIZON WIRELESS CAP LLC | 0 | 0 |
| FIRST NATIONAL BANK ALASKA | 23,983 | 24,514 |
| WASHINGTON FEDERAL INC | 50,849 | 69,870 |
| WASHINGTON REAL ESTATE INV | 75,266 | 63,072 |
| INTEL CORP | 43,850 | 51,910 |
| MICROSOFT CORP | 43,695 | 56,115 |
| CONSUMERS ENERGY CO | 0 | 0 |
| PACCAR INC | 39,492 | 44,378 |
| FARMERS & MERCHANTS BANK | 102,000 | 104,200 |
| CATERPILLAR INC | 50,418 | 54,486 |
| NOVO-NORDISK AS ADR-EACH | 58,505 | 64,666 |
| PLUM CREEK TIMBER CO | 43,680 | 46,510 |
| M&T BK CORP CUM PERPETUAL | 49,500 | 45,743 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 1,833 | 0 | 1,833 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| PURCHASED INTEREST | 373 | 373 | 373 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| STATE LICENSES | 25 | 0 | 25 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXCISE TAXES | 3,970 | 0 | 0 |