| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 14,900 | 7,450 | 7,450 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| SPDR TRUST UNIT SR 1 | 1,152,047 | 2,031,590 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| LONG TERM INVESTMENTS | AT COST | 21,024,727 | 25,224,622 |
| TITAN MASTERS INTERNATIONAL FUND | AT COST | 1,250,000 | 1,600,122 |
| IRONSIDES | AT COST | 929,655 | 1,407,011 |
| NORWICH VENTURES | AT COST | 250,000 | 379,702 |
| CIS PARTNERS II | AT COST | 30,000 | 26,932 |
| PERMAL | AT COST | 592,000 | 685,109 |
| EASTERLY PARTNERS - U.S. GOVERNMENT PROPERTIES | AT COST | 433,852 | 485,223 |
| PRIVATE EQUITY UNCALLED COMMITMENTS - NORWICH VENTURES | AT COST | 0 | 0 |
| PRIVATE EQUITY UNCALLED COMMITMENTS - PERMAL | AT COST | 408,000 | 408,000 |
| PRIVATE EQUITY UNCALLED COMMITMENTS - IRONSIDES | AT COST | 10,755 | 10,755 |
| PRIVATE EQUITY UNCALLED COMMITMENTS - CIS PARTNERS II | AT COST | 270,000 | 270,000 |
| PRIVATE EQUITY UNCALLED COMMITMENTS - EASTERLY PARTNERS | AT COST | 566,148 | 566,148 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 109 | 0 | 109 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| PREPAID INSURANCE | 6,814 | 6,814 | 6,814 |
| OTHER PREPAID | 550 | 550 | 550 |
| Description | Amount |
|---|---|
| CHANGE IN GRANTS PAYABLE | 197,354 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| GENERAL & ADMINISTRATIVE | 161,980 | 81,799 | 80,181 | |
| TELEPHONE AND INTERNET | 1,019 | 1,019 | 0 | |
| INSURANCE | 5,057 | 5,057 | 0 |
| Description | Amount |
|---|---|
| CHANGE IN ACCRUED INVESTMENT COMMITMENT | 717,898 |
| DEPRECIATION | 37,062 |
| FINANCIAL INCOME VS. EXCISE RETURN INCOME | 145,908 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| COVERED CALL OPTIONS WRITTEN | 31,182 | 27,468 |
| ACCRUED EXPENSES | 537,005 | 1,254,903 |
| ACCRUED TAXES | 12,963 | 11,894 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| CONSULTANT SERVICES | 37,000 | 0 | 37,000 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| REAL ESTATE | 11,491 | 0 | 11,491 | |
| FEDERAL EXCISE TAXES | 32,743 | 0 | 0 | |
| REAL ESTATE TAX | 630 | 630 | 0 |