| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Accounting | 1,650 | 1,650 | 0 | 0 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| National Fuel Gas | 36,276 | 208,590 |
| MDU Resources | 38,867 | 109,017 |
| Am Elec Power | 29,771 | 138,442 |
| Xcel Energy | 69,450 | 135,490 |
| Public Service Enterprises | 40,078 | 124,230 |
| Duke Energy | 48,258 | 72,346 |
| NuStar Energy (Formerly Valero L.P.) | 5,060 | 118,157 |
| Spectra Energy Corp | 37,518 | 47,190 |
| BAC Capital Trust VIII Preferred 6.00% | 49,988 | 64,123 |
| Enterprise Products Partners LP | 3,957 | 117,968 |
| American Campus Communities | 19,706 | 23,162 |
| AT&T Incorporated | 22,459 | 24,118 |
| Chevron Corporation | 24,414 | 26,923 |
| Coca-Cola Co | 23,591 | 28,203 |
| Du Pont E I De Nemours & Co | 15,578 | 24,104 |
| Intel Corp | 23,047 | 37,451 |
| Johnson & Johnson Inc | 19,703 | 30,848 |
| Lockheed Martin Corp | 13,119 | 30,619 |
| McDonalds Corp | 25,026 | 26,330 |
| Microsoft | 19,376 | 33,398 |
| Novartis Ag | 20,267 | 31,875 |
| Paychex Inc | 14,219 | 21,054 |
| Total Sasponsored Adr | 20,883 | 20,685 |
| Blackrock Inc | 9,766 | 20,023 |
| Cullen/Frost Bankers Inc | 18,298 | 23,806 |
| Pepsico Inc | 19,365 | 26,855 |
| PNC Financial Services Group Inc | 17,239 | 27,278 |
| United Parcel Service, Inc | 21,510 | 31,461 |
| Eaton Corp PLC | 23,108 | 27,796 |
| General Mills | 15,070 | 19,892 |
| JP Morgan Chase & Co | 19,587 | 27,598 |
| Occidental Petroleum Corp. | 22,032 | 21,523 |
| PPL Corporation | 9,452 | 11,408 |
| Proctor & Gamble Co. | 18,377 | 24,321 |
| Teva Pharmaceutical Inds Ltd Adr | 20,355 | 29,733 |
| AES Trust III Preferred Convertible | 58,116 | 61,068 |
| Apple Computer, Inc | 22,551 | 39,406 |
| Cisco Systems | 20,581 | 26,981 |
| Kinder Morgan Inc | 22,410 | 28,052 |
| Kraft Foods Group | 16,931 | 23,372 |
| Merck & Co Inc | 15,796 | 20,842 |
| California Resources Corp | 920 | 584 |
| Coach Inc | 22,950 | 20,808 |
| Denbury Resources Inc | 11,839 | 6,317 |
| General Electric Coop | 25,838 | 25,270 |
| General Motors Co | 15,502 | 18,014 |
| KLA-Tencor Corp | 14,067 | 20,112 |
| Metlife Inc | 23,339 | 24,232 |
| Qualcomm Incorporated | 21,853 | 22,373 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| Fidelity GNMA | AT COST | 47,560 | 50,866 |
| Financial Square Trust Fund Gov.Portfoli | AT COST | 61,437 | 61,437 |
| Dodge & Cox Global Stock Fund | AT COST | 100,000 | 118,300 |
| Dodge & Cox International Stock Fund | AT COST | 77,916 | 83,476 |
| Harbor International Fund | AT COST | 75,000 | 73,380 |
| Harbor Bond Fund | AT COST | 52,491 | 51,795 |
| Perkins Mid Cap Value Fund | AT COST | 40,000 | 36,662 |
| Vanguard GNMA Fund-ADM | AT COST | 125,000 | 127,956 |
| Vanguard ST Investment Grade | AT COST | 100,000 | 99,348 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Bank Management Fees | 7,008 | 7,008 | ||
| Postage | 48 | 48 | ||
| Other Expense | 97 | 97 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| Other Income | 6,544 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Foreign Taxes | 1,071 | 1,071 | ||
| Excise Taxes Paid | 2,595 | 2,595 |