| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 1,725 | 0 | 0 | 0 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| CORPORATE BONDS | 45,016 | 43,769 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| INTERMEDIATE BOND FUND | FMV | 81,990 | 77,761 |
| PREFERREDS/FIXED RATE CAP SECURITIES | FMV | 125,000 | 102,000 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MICHIGAN ANNUAL REPORT FEE | 20 | 0 | 0 | 0 |
| FEDERAL EXCISE TAX | 85 | 0 | 0 | 0 |
| Description | Amount |
|---|---|
| MARKET VALUE ADJUSTMENT | 21,995 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| ACCRUED FEDERAL EXCISE TAX | 544 | 85 |