| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| HAYASHI & WAYLAND CPAS | 2,350 | 0 | 0 | 2,350 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| ROOF-COTTAGE | 1998-05-07 | 11,426 | 4,285 | 87 | 2.56 % | 293 | |||
| ROOF-TEA ROSE | 2006-05-15 | 18,617 | 3,161 | 87 | 2.56 % | 477 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| UNITED TECHNOLOGIES CORP | 35,469 | 45,520 |
| COHEN & STEERS INTL REALTY FUND | 14,901 | 29,888 |
| TEMPLETON EMRG MKTS | 11,376 | 13,650 |
| NORTHWESTERN CORP | 33,034 | 43,320 |
| A T & T INC | 31,477 | 35,160 |
| NOVO NOREISK A/S DR | 31,068 | 46,190 |
| ORACLE CORP | 30,864 | 34,434 |
| HONEYWELL INT'L INC. | 29,834 | 45,685 |
| PROCTOR & GAMBLE CORP | 27,346 | 32,564 |
| Category/ Item | Cost/Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| Buildings | 30,000 | 30,000 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| CROSS TIMBERS ROYALTY TRUST | AT COST | 5,048 | 2,941 |
| ISHARES INTL SMALL CAP FD | AT COST | 16,718 | 26,156 |
| I SHARES MSCI EAFE INDEX | AT COST | 16,125 | 24,154 |
| ISHARES MSCI EMRG MKTS | AT COST | 15,301 | 13,374 |
| I SHARES MSCI PAC EX JAPAN | AT COST | 25,622 | 30,841 |
| AMEX S&P 500 INDEX FUNDS | AT COST | 24,686 | 51,982 |
| ISHARES S&P MIDCAP 400 INDEX FUND | AT COST | 7,939 | 20,741 |
| MESABI TRUST | AT COST | 5,079 | 4,452 |
| NORTHERN EURO OIL ROYALTY TRUST | AT COST | 4,754 | 2,498 |
| PERMIAN BASIN ROYALTY TRUST | AT COST | 4,123 | 2,251 |
| PLUM CREEK TIMBER | AT COST | 3,199 | 4,651 |
| SABINE ROYALTY TRUST | AT COST | 7,477 | 8,848 |
| SAN JUAN BASIN ROYALTY TRUST | AT COST | 4,898 | 2,511 |
| SCHLUMBERGER LTD. | AT COST | 24,744 | 27,033 |
| ISHRES FTSE EPRA NAREIT DEV (IFAS) | AT COST | 6,935 | 11,878 |
| ISHARES FTSE EPRA NAREIT DEV(IFGL) | AT COST | 7,695 | 12,342 |
| ONEOK PARTNERS LLP | AT COST | 28,158 | 36,855 |
| EL PASO PIPELINE PARTNERS LP | AT COST | 25,506 | 27,000 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| Buildings | 30,043 | 8,216 | 21,827 | 1,082,000 |
| Land | 50,000 | 50,000 | 50,000 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 150 | 150 | 0 | 0 |
| Description | Amount |
|---|---|
| FEDERAL INCOME TAXES | 2,156 |
| FEDERAL INCOME TAX-PRIOR YEAR ADJ. | 904 |
| UNDERPAY PENALTY-ESTIMATE TAX | 1 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEE-MORGAN STANLEY | 150 | 150 | ||
| OFFICE-POSTAGE | 18 | 18 | ||
| Rental Expenses | 275 | 275 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| ROYALTY OTHER INC LOSS | 565 | 565 |
| Description | Amount |
|---|---|
| ELPASO PIPELINE-K-I ADJ LOSS | 838 |
| ONEOK PTNERS-K-I ADJ-LOSS&DISTR | 4,254 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| DEPT OF JUSTICE | 50 | 50 | ||
| FRANCHSE TAX | 10 | 10 | ||
| SEC OF STATE | 20 | 20 |