| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 10,500 | 7,000 | 3,500 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| CORPORATE STOCKS, BONDS AND OTHER INVESTMENTS - DETAILS AVAILABLE | 3,067,877 | 3,740,063 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| INVESTMENT IN URSULA CAPITAL PARTNERS LLP | AT COST | 1,331,957 | 1,331,957 |
| INVESTMENT IN BOARDWALK PIPELINE PARTNERS | AT COST | 34,618 | 102,080 |
| INVESTMENT IN ENTERPRISE PRODUCT PARTNERS | AT COST | 0 | 0 |
| INVESTMENT IN EL PASO PIPELINE PARTNERS | AT COST | 28,457 | 46,800 |
| INVESTMENT IN PLAINS ALL-AMERICAN PIPELINE | AT COST | 45,124 | 62,124 |
| INVESTMENT IN KINDER MORGAN ENERGY | AT COST | 0 | 88,726 |
| Description | Amount |
|---|---|
| NONDEDUCTIBLE PARTNERSHIP EXPENSES - KINDER MORGAN ENERGY | 12 |
| NONDEDUCTIBLE PARTNERSHIP LOSS - PLAINS ALL AMERICAN | 1,051 |
| NONDEDUCTIBLE PARTNERSHIP LOSS - ENTERPRISE PRODUCTS | 1,404 |
| NONDEDUCTIBLE PARTNERSHIP LOSS - KINDER MORGAN ENERGY | 3,727 |
| NONDEDUCTIBLE PARTNERSHIP EXPENSES - BOARDWALK PIPELINE | 29 |
| NONDEDUCTIBLE PARTNERSHIP EXPENSES - ENTERPRISE PRODUCTS | 6 |
| NONDEDUCTIBLE PARTNERSHIP EXPENSES - PLAINS ALL AMERICAN | 9 |
| NONDEDUCTIBLE PARTNERSHIP LOSS - URSULA CAPITAL | 176 |
| NONDEDUCTIBLE PARTNERSHIP LOSS - EL PASO PIPELINE | 1,937 |
| NONDEDUCTIBLE PARTNERSHIP EXPENSES - EL PASO PIPELINE | 29 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| K-1 URSULA CAPITAL PARTNESHIP | 28,559 | 28,559 | 0 | |
| OTHER INVESTMENT EXPENSES | 1,444 | 1,444 | 0 | |
| BOOKKEEPING, MANAGEMENT AND OFFICE | 14,357 | 9,571 | 4,786 | |
| ADR FEES | 189 | 189 | 0 | |
| K-1 KINDER MORGAN ENERGY PARTNERS | 842 | 842 | 0 | |
| K-1 BOARDWALK PIPELINE PARTNERS LP | 14 | 14 | 0 | |
| NYS FILING FEE | 250 | 0 | 250 | |
| K-1 PLAINS ALL AMERICAN | 261 | 261 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| OTHER INCOME - K-1 URSULA CAPITAL PARTNERS | 399 | 399 | 399 |
| OTHER INCOME - K-1 BOARDWALK PIPELINE | 788 | 788 | 788 |
| OTHER INCOME - K-1 ENTERPRISE | 57 | 57 | 57 |
| OTHER INCOME - K-1 KINDER MORGAN | 72 | 72 | 72 |
| OTHER LOSS - K-1 PLAINS ALL AMERICAN | -75 | -75 | -75 |
| Description | Amount |
|---|---|
| K-1 URSULA CAPITAL PARTNERS - UNREALIZED GAIN ON SECURITIES | 195,470 |
| K-1 URSULA CAPITAL PARTNERS - ACCRUED DIVIDENDS | 202 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| NEGATIVE CAPITAL BALANCE - KINDER MORGAN ENERGY PARTNERS | 1,380 | 11,634 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ADVISORY FEES | 39,647 | 39,647 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL EXCISE TAX | 8,958 | 8,958 | 0 |