| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| TAX PREP FEE | 4,995 | 2,497 | 2,498 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ECOLAB INC | 1,590,541 | 4,216,859 |
| FAMOUS DAVE'S OF AMERICA | 88,769 | 525,400 |
| ASTRAZENECA PLC | 13,418 | 20,691 |
| BP AMOCO PLC | 15,900 | 11,665 |
| CANON INC ADR | 18,817 | 16,590 |
| CITIGROUP | 12,874 | 24,945 |
| CISCO SYSTEMS | 18,671 | 23,615 |
| COCA-COLA CO | 6,291 | 12,497 |
| EMERSON ELECTRIC CO | 11,883 | 18,272 |
| ENI S P A | 16,121 | 12,742 |
| ENCANA CORP | 18,948 | 13,468 |
| EXXON MOBIL CORP COM | 7,521 | 10,077 |
| FEDERATED INVESTORS | 12,743 | 17,288 |
| FOMENTO ECONOMICO MEX | 18,460 | 19,191 |
| FREEPORT-MCMORAN COPPER & GOLD, INC | 22,823 | 17,240 |
| GLAXO SMITHKLINE PLC ADR | 12,724 | 12,010 |
| HALYARD HEALTH INC | 236 | 546 |
| HARSCO CORP | 20,478 | 17,681 |
| HEWLETT-PACKARD CO | 7,167 | 15,932 |
| JOHNSON & JOHNSON | 6,185 | 10,980 |
| KEY CORP | 12,287 | 19,724 |
| KIMBERLY-CLARK CORP | 5,679 | 11,554 |
| MICROSOFT CORPORATION | 13,813 | 22,993 |
| MOBILE TELESYSTEMS-SP ADR | 12,238 | 4,588 |
| PHILIP MORRIS INTERNATIONAL | 19,934 | 22,317 |
| 3 M COMPANY | 9,802 | 24,977 |
| UPM KYMMENE CORP | 16,327 | 22,348 |
| WELLS FARGO & COMPANY | 5,477 | 10,251 |
| TRANSOCEAN LTD | 25,800 | 11,511 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| BLACKROCK STRATEGIC INCOME OPPORTUNITIES | AT COST | 209,923 | 206,012 |
| BUFFALO MID CAP FUND | AT COST | 78,608 | 76,689 |
| BUFFALO SMALL CAP FUND #1444 | AT COST | 38,281 | 42,912 |
| CAUSEWAY INTERNATL VALUE FUND INST #1271 | AT COST | 285,982 | 259,449 |
| CHAMPLAIN SMALL CO FD-ADV | AT COST | 59,615 | 70,533 |
| DIAMOND HILL LARGE CAP FD | AT COST | 200,040 | 211,256 |
| DODGE & COX STOCK FUND #145 | AT COST | 114,681 | 131,764 |
| ETFS PLATINUM TRUST | AT COST | 54,977 | 53,843 |
| ETFS PALLADIUM TRUST | AT COST | 27,927 | 29,446 |
| EPA NEW INCOME INC FUND | AT COST | 248,620 | 243,092 |
| FMI COMMON STOCK FUND | AT COST | 47,367 | 53,316 |
| GOLDMAN SACHS FS TIF US TREASURY INSTL #506 | AT COST | 42,954 | 42,954 |
| HARBOR MID CAP VALUE FUND #023 | AT COST | 51,906 | 90,976 |
| HARDING LOEVNER EMERG MKTS | AT COST | 112,160 | 108,595 |
| JENSEN PORTFOLIO CL I | AT COST | 145,120 | 163,068 |
| MANNING & NAPIER WORLD OPPORTUNITIES FUND | AT COST | 20,780 | 17,848 |
| MARSICO FOCUS FUND #40 | AT COST | 112,530 | 114,468 |
| OAKMARK INTERNATIONAL FUND (HARRIS) #109 | AT COST | 258,120 | 255,320 |
| ISHARES MSCI EMERGING MARKET | AT COST | 74,099 | 65,850 |
| ISHARES MSCI EAFE INDEX FUND | AT COST | 134,669 | 132,814 |
| ISHARES TRUST RUSSELL 2000 | AT COST | 59,932 | 76,796 |
| ISHARES SILVER TRUST | AT COST | 27,969 | 25,903 |
| PIMCO LOW DURATION FUND CL D | AT COST | 47,080 | 45,498 |
| ROYCE PREMIER FUND | AT COST | 87,200 | 87,457 |
| SPDR GOLD TRUST | AT COST | 73,504 | 72,691 |
| RS GLOBAL NATURAL RESOURCE # 1474 | AT COST | 236,379 | 162,275 |
| RS VALUE FUND - A | AT COST | 151,427 | 178,535 |
| SCOUT UNCONSTRAINED BOND-Y | AT COST | 56,120 | 53,697 |
| T ROWE PRICE INTERNATIONAL BOND # 76 | AT COST | 68,756 | 63,177 |
| T ROWE PRICE MID-CAP GROWTH #64 | AT COST | 120,256 | 151,596 |
| T ROWE PRICE INSTITUTIONAL FLOATING RATE | AT COST | 135,256 | 135,841 |
| THORNBURG THORNBURG INTL VALUE CL A | AT COST | 90,080 | 84,167 |
| TWEEDY BROWNE GLOBAL VALUE FUND #1 | AT COST | 203,080 | 205,736 |
| USAA PRECIOUS METALS AND MINERALS FUND | AT COST | 18,800 | 6,420 |
| VANGUARD ENERGY FUND INVESTOR SHS #51 | AT COST | 71,620 | 198,994 |
| ING GROUP NV SPONSORED ADR | AT COST | 21,673 | 19,896 |
| INTEL CORP | AT COST | 15,326 | 33,641 |
| INTESA SANPAOLO ADR | AT COST | 19,867 | 19,959 |
| JPMORGAN CHASE & CO | AT COST | 15,209 | 20,964 |
| SANOFI-ADR | AT COST | 6,155 | 9,078 |
| SEIMENS AG SPONSORED ADR | AT COST | 21,834 | 21,214 |
| SUN LIFE FINANCIAL | AT COST | 13,728 | 17,525 |
| TAIWAN SEMICONDUCTOR ADR | AT COST | 9,527 | 17,322 |
| TOTAL SA-SPON ADR | AT COST | 17,174 | 16,742 |
| UNILEVER PLC ADR | AT COST | 18,886 | 18,742 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOUNDATION EXPENSE | 4,603 | 2,302 | 2,301 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| DEPOSITS IN TRANSIT | 950 | 51,500 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MGT FEES | 7,712 | 7,712 | 0 |