| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 3,160 | 3,160 | 0 | |
| OTHER EXPENSE | 12,238 | 12,238 | 0 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| DONNELLEY (R.R.) & SONS | 20,405 | 20,200 |
| MERRILL LYNCH & CO | 20,702 | 21,179 |
| COMERICA BANK | 20,551 | 21,658 |
| GOLDMAN SACHS GROUP INC | 20,301 | 21,452 |
| BANK OF AMERICA NA | 24,082 | 25,780 |
| SILICON VALLEY BANK | 21,503 | 21,622 |
| PACTIV CORP | 20,779 | 19,753 |
| ROYAL BK OF SCOTLAND PLC | 19,896 | 20,425 |
| AEGON NV | 25,997 | 25,871 |
| MORGAN STANLEY | 21,028 | 21,474 |
| CREDIT SUISSE NEW YORK | 16,090 | 16,683 |
| BEAR STEARNS CO INC | 20,657 | 21,672 |
| WASHINGTON REAL ESTATE INVESTMENT | 27,382 | 27,096 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| PROCTER & GAMBLE CO | 3,978 | 11,386 |
| GENERAL ELECTRIC CO | 26,845 | 18,447 |
| S&P MIDCAP 400 SPDR TR UNIT SER 1 | 3,342 | 9,503 |
| 3M CO | 4,459 | 8,216 |
| AT&T INC | 8,471 | 10,077 |
| APPLE INC | 32,562 | 57,950 |
| JP MORGAN CHASE & CO | 13,431 | 18,148 |
| NORDSTOM INC. | 3,064 | 7,939 |
| PNC FINANCIAL SVCS GROUP | 4,602 | 9,123 |
| BT GP PLC SPON ADR | 11,545 | 24,796 |
| CENTURYLINK INC | 17,479 | 16,624 |
| CMS ENERGY CP | 18,984 | 37,009 |
| MERCK & CO INC NEW COM | 11,099 | 17,037 |
| NORTHEAST UTILITIES | 11,826 | 20,926 |
| VERIZON COMMUNICATIONS | 9,612 | 14,034 |
| WESTAR ENERGY INC | 12,694 | 20,620 |
| ABB LTD | 15,780 | 12,690 |
| BK MONTREAL | 15,027 | 16,975 |
| BRISTOL MYERS SQUIBB CO | 8,733 | 15,938 |
| EGSHARES EMERGING MARKETS | 13,936 | 15,457 |
| ENBRIDGE INC | 10,210 | 16,451 |
| FIRST TRUST DJ GL SEL DVD | 10,144 | 10,148 |
| INTERNATIONAL PAPER CO | 13,929 | 27,058 |
| PINNACLE WEST CAPITAL CORP | 11,466 | 17,761 |
| SPDR S&P DIVIDEND | 20,119 | 28,762 |
| TORONTO DOM BK NEW | 6,955 | 7,645 |
| HCP INCORPORATED | 10,125 | 9,907 |
| MICROSOFT | 5,429 | 9,290 |
| SEADRILL LTD | 15,727 | 4,955 |
| SEAGATE TECHNOLOGY PLC | 18,361 | 44,223 |
| SPDR EM MKTS EFT | 9,964 | 6,515 |
| XCEL ENERGY INC | 8,793 | 10,776 |
| ACCENTURE PLC IRELAND | 8,265 | 10,271 |
| HUBBELL INC B | 8,536 | 10,149 |
| LEGGETT & PLATT | 8,104 | 11,718 |
| NOVARTIS AG ADR | 14,655 | 18,532 |
| PFIZER INC | 19,937 | 20,559 |
| SANOFI ADR | 15,006 | 12,999 |
| TELSTRA CORP LTD | 19,963 | 20,668 |
| BLACKROCK INC | 10,547 | 12,515 |
| BLACKROCK GROUP LP | 9,827 | 10,149 |
| LYONDELLBASELL NV CL-A | 15,027 | 14,687 |
| MACYS INC | 10,020 | 11,506 |
| MAGNA INTERNATIONAL INC | 9,727 | 10,869 |
| PRUDENTIAL FINANCIAL INC | 10,184 | 11,308 |
| ROCHE HOLDINGS ADR | 14,982 | 13,596 |
| VERTIV CORP | 187 | 467 |
| DEUTSCHE X-TRACKERS MSCI EUR | 9,949 | 9,769 |
| ISHARES MSCI GERMANY ETF | 9,999 | 9,182 |
| ISHARES MSCI POLAND CAPPED ETF | 10,071 | 8,304 |
| POWERSHARES DYNAMIC PHARMACEUT | 12,557 | 14,969 |
| SPDR EURO STOXX 50 ETF | 10,105 | 8,662 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| POWERSHARES DWA DEVELOP MKTS | AT COST | 30,589 | 34,243 |
| NUVEEN REAL EST SEC FUND | AT COST | 49,703 | 72,024 |
| LOOMIS SAYLES STRAT INC A | AT COST | 71,695 | 80,222 |
| OPPENHEIMER DEVELOPING MKTS A | AT COST | 53,585 | 64,658 |
| ISHARES MSCI EAFE FUND | AT COST | 28,013 | 38,025 |
| TCW EMERG MKTS INCOME | AT COST | 68,673 | 60,851 |
| VIRTUS MULTI SEC SHT TRM BDI | AT COST | 55,026 | 54,164 |
| ISHARES MSCI AUSTRALIA ETF | AT COST | 30,095 | 25,496 |
| ISHARES MSCI PHILIPPINES | AT COST | 10,007 | 9,359 |
| ISHRS MSCI MEXICO CAPPED ETF | AT COST | 14,961 | 12,116 |
| FIDELITY ADV FLTG RT HI INC | AT COST | 42,492 | 40,931 |
| FIDELITY ADV BIOTECHNOLOGY I | AT COST | 12,852 | 15,291 |
| GOLDMAN SACHS STRATEGIC INC I | AT COST | 25,704 | 24,843 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| DELEWARE ADMIN FEES | 462 | 462 | 0 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OTHER ADMIN FEES | 51 | 51 | 0 | |
| OTHER DEDUCTIONS-THE BLACKSTONE GROUP LP K1 | 4 | 4 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MANAGEMENT FEES | 14,228 | 14,228 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES | 1,165 | 1,165 | 0 | |
| FEDERAL EXCISE TAXES | 774 | 0 | 0 |