| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 6,000 | 3,000 | 0 | 3,000 |
| Category | Amount |
|---|---|
| NONE |
| 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 |
|---|
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AMERICAN EXPRESS CREDIT CO. | 15,000 | 15,052 |
| BB&T CORPORATION | 15,000 | 15,027 |
| BANK AMER CORP MEDIUM TERM SR | 0 | 0 |
| BANK OF MONTREAL MEDIUM TERM N | 15,027 | 15,021 |
| BANK NOVA SCOTIA B C | 11,000 | 11,018 |
| BARCLAYS BANK PLC | 15,190 | 15,004 |
| BERKSHIRE HATHAWAY INC SR NT | 14,991 | 15,065 |
| CATERPILLAR FINL SVCS CORP | 15,000 | 15,006 |
| CITIGROUP INC SENIOR NOTES | 15,091 | 15,029 |
| COMMONWEALTH BK AUSTRALIA | 10,207 | 10,167 |
| CONOCOPHILLIPS AUSTRALIA FDG C | 0 | 0 |
| CREDIT SUISSE NEW YORK NOTES | 15,138 | 15,004 |
| DELL INC. NT FLTG | 10,000 | 9,960 |
| DELL INC. NT FLTG | 5,007 | 4,980 |
| EOG RES INC | 15,139 | 15,009 |
| EMERSON ELECTRIC | 0 | 0 |
| GEORGIA POWER CO | 10,000 | 10,003 |
| GOLDMAN SACHS GROUP INC | 15,058 | 15,011 |
| INTERNATIONAL BUSINESS MACHS C | 0 | 0 |
| JP MORGAN CHASE & CO | 15,096 | 15,008 |
| KEYBANK NATL ASSN CLEVELAND | 15,000 | 15,026 |
| KIMBERLY CLARK CORP | 0 | 0 |
| LLOYDS TSB BK PLC | 15,251 | 15,021 |
| LLOYDS TSB BK PLC | 15,195 | 15,021 |
| MERCK & CO INC | 16,033 | 15,760 |
| METLIFE INC | 10,890 | 10,614 |
| MORGAN STANLEY SR NT | 15,148 | 15,012 |
| NATIONAL RURAL UTILS COOP FIN | 0 | 0 |
| NOBLE CORP | 0 | 0 |
| PROCTER & GAMBLE CO | 10,307 | 10,231 |
| RIO TINTO FINANCE USA LTD | 15,713 | 15,469 |
| TORONTO DOMINION BANK | 15,000 | 15,044 |
| TOTAL CAPITAL CANADA LTD | 15,000 | 15,079 |
| TJX COS INC | 16,057 | 15,822 |
| UBS AG STAMFORD BRH | 15,140 | 15,013 |
| V F CORP | 0 | 0 |
| VERIZON COMMUNICATIONS INC | 15,000 | 15,019 |
| WACHOVIA CORP GLOBAL | 0 | 0 |
| WALGREEN CO | 0 | 0 |
| WELLS FARGO BANK | 16,035 | 15,674 |
| WESTPAC BKG CORP | 0 | 0 |
| Category/ Item | Cost/Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| INST DIVERSIFIED ARBITRAGE FD | 1,212,982 | 1,695,886 | |
| KENTUCKY ASSET/LIABILITY | 0 | 0 | |
| AMERICAN EXPRESS CENTURION BK | 0 | 0 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| ACCRUED INTEREST | 7 | 0 | 0 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT ADVISORY FEES | 1,905 | 1,905 | 0 | 0 |
| OTHER EXPENSES | 232 | 0 | 0 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| FEDERAL EXCISE TAX OVERPAYMENT APPLIED | 1,431 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| DUE TO JASPER JOHNS |
| Name | Address |
|---|---|
| JASPER JOHNS |
PO BOX 642 SHARON,CT06069 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL EXCISE TAX | 1,431 | 0 | 0 | 0 |