| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 12,000 | 0 | 12,000 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ALCOA INC | 0 | 0 |
| AVON PRODUCTS INC NTS | 0 | 0 |
| CLIFFS NAT RESOURCES INC | 0 | 0 |
| GENL ELEC CAP CORP NTS | 0 | 0 |
| GENL ELEC CO | 119,086 | 119,086 |
| GLAXOSMITHKLINE CAP INC | 27,427 | 27,427 |
| MERCK & CO INC NEW COM | 46,323 | 46,323 |
| PEPSICO INC NTS | 41,279 | 41,279 |
| SAFEWAY INC NTS B/E | 27,330 | 27,330 |
| UNTD TECHNOLOGIES CORP | 18,253 | 18,253 |
| UNTD TECHNOLOGIES CORP | 56,489 | 56,489 |
| VERIZON COMMUNICATIONS | 50,611 | 50,611 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 3M CO | 24,707 | 24,707 |
| ABBOTT LABS | 45,000 | 45,000 |
| ACCENTURE PLC IRELAND CL | 28,529 | 28,529 |
| ACE LTD CHF | 36,340 | 36,340 |
| ADT CORP COM | 34,497 | 34,497 |
| AES CORP | 41,103 | 41,103 |
| ALLEGHENY TECHNOLOGY | 18,259 | 18,259 |
| ALLSTATE CORP | 51,969 | 51,969 |
| ALTRIA GROUP INC | 44,763 | 44,763 |
| AMER ELECTRIC POWER CO | 35,603 | 35,603 |
| AMERIPISE FINANCIAL INC | 71,301 | 71,301 |
| AMGEN INC | 25,486 | 25,486 |
| ANALOG DEVICES INC | 21,077 | 21,077 |
| ANTHEM INC | 73,345 | 73,345 |
| APPLE INC | 53,156 | 53,156 |
| APPLIED MATERIALS INC | 45,592 | 45,592 |
| AT&T INC | 39,675 | 39,675 |
| BAKER HUGHES INC | 33,182 | 33,182 |
| BB&T CORP | 48,586 | 48,586 |
| BED BATH AND BEYOND | 0 | 0 |
| BECTON DICKINSON & CO | 26,503 | 26,503 |
| BLACKROCK INC | 56,186 | 56,186 |
| BOEING COMPANY | 43,088 | 43,088 |
| BOSTON PROPERTIES INC | 13,902 | 13,902 |
| BROADCOM CORP CL A | 0 | 0 |
| BROOKDALE SENIOR LIVING, INC | 0 | 0 |
| BRUNSWICK CORP | 40,408 | 40,408 |
| CATAMARAN CORP | 0 | 0 |
| CAMDEN PPTY TR SBI | 0 | 0 |
| CAMPBELL SOUP CO B/E | 0 | 0 |
| CATERPILLAR INC | 0 | 0 |
| CBL & ASSOC PPTYS, INC | 0 | 0 |
| CELGENE CORP | 48,742 | 48,742 |
| CERNER CORP | 0 | 0 |
| CHEVRON CORP | 71,338 | 71,338 |
| CHESAPEAKE ENERGY CORP OKLA | 16,043 | 16,043 |
| CHURCH & DWIGHT CO INC | 45,411 | 45,411 |
| CIGNA CORP | 59,410 | 59,410 |
| CINTAS CORP | 23,764 | 23,764 |
| CISCO SYSTEMS INC | 48,906 | 48,906 |
| CITIGROUP INC | 89,062 | 89,062 |
| COCA-COLA ENTERPRISES INC NEW | 0 | 0 |
| COMCAST CORP NEW CL A | 51,690 | 51,690 |
| COMCAST CORP NEW SPECIAL CL A | 0 | 0 |
| CONOCOPHILLIPS | 0 | 0 |
| CORNING INC | 43,250 | 43,250 |
| CROWN HOLDINGS INC | 0 | 0 |
| CUBESMART SBI | 7,747 | 7,747 |
| CULLEN FROST BANKERS INC | 0 | 0 |
| CUMMINS INC | 12,937 | 12,937 |
| CVS HEALTH CORP | 40,183 | 40,183 |
| DANA HOLDING CORP | 44,050 | 44,050 |
| DANAHER CORP | 65,016 | 65,016 |
| DDR CORP REIT SBI | 5,321 | 5,321 |
| DELPHI AUTOMOTIVE PLC | 28,291 | 28,291 |
| DELTA AIR LINES INC DELA NEW | 0 | 0 |
| DEVON ENERGY CORP NEW | 0 | 0 |
| DIAGEO PLC NEW GB SPON ADR | 0 | 0 |
| DOVER CORP | 0 | 0 |
| DUKE REALTY CORP NEW REITS | 4,919 | 4,919 |
| DUPONT FABROS TECHNOLOGY INC | 0 | 0 |
| EATON CORP LLC | 36,012 | 36,012 |
| ECOLAB INC | 0 | 0 |
| EDG RESOURCES INC | 0 | 0 |
| EDUCATION REALTY TRUST INC | 3,258 | 3,258 |
| EMC CORP MASS | 0 | 0 |
| EMERSON ELECTRIC CO | 33,481 | 33,481 |
| ENLINK MIDSTREAM PARTNERS | 9,782 | 9,782 |
| ENSCO PLC CL A | 0 | 0 |
| EPR PROPERTIES REIT | 5,436 | 5,436 |
| EQUITY ONE INC SDI | 6,027 | 6,027 |
| EQUITY RESIDENTIAL SBI | 19,908 | 19,908 |
| ESSEX PROPERTY TRUST INC | 17,716 | 17,716 |
| EVERCORE PARTNERS INC CL A | 36,822 | 36,822 |
| EXPRESS CRIPTS HLDG CO | 0 | 0 |
| EXXON MOBIL CORP | 33,051 | 33,051 |
| FEDERAL RLTY INV TR | 6,721 | 6,721 |
| FIDELITY NATL INFORMATION SVCS | 48,904 | 48,904 |
| FIFTH THRID BANCORP | 0 | 0 |
| FIRST INDL REALTY TRUST INC | 6,993 | 6,993 |
| FLOUR CORP NEW | 0 | 0 |
| FRANKLIN RESOURCES INC | 33,617 | 33,617 |
| GAP INC | 51,747 | 51,747 |
| GENERAL GROWTH PPTYS INC NEW | 14,476 | 14,476 |
| GENL ELECTRIC CO | 47,192 | 47,192 |
| GENL MILLS INC | 53,681 | 53,681 |
| GILEAD SCIENCES INC | 18,518 | 18,518 |
| GEO GROUP INC NEW COM | 347 | 347 |
| GOLDMAN SACHS GROUP INC | 40,011 | 40,011 |
| GOOGLE INC CL C | 0 | 0 |
| HARTFORD FINCL SERVICES GROUP | 67,363 | 67,363 |
| HCP INC | 0 | 0 |
| HEALTH CARE REIT INC | 0 | 0 |
| HENRY JACK & ASSOC INC | 0 | 0 |
| HOME DEPOT INC | 74,060 | 74,060 |
| HONEYWELL INTL INC | 33,350 | 33,350 |
| HOST HOTELS & RESORTS INC | 7,961 | 7,961 |
| HUNTINGTON BANCSHARES | 43,411 | 43,411 |
| ILLINOIS TOOL WORKS INC | 37,165 | 37,165 |
| INTEL CORP | 46,404 | 46,404 |
| JOHNSON & JOHNSON COM | 65,535 | 65,535 |
| JONES LANE LASALLE INC | 0 | 0 |
| JPMORGAN CHASE & CO | 106,771 | 106,771 |
| KILROY REALTY CORP | 3,670 | 3,670 |
| KROGER COMPANY | 74,206 | 74,206 |
| LAM RESEARCH CORP | 0 | 0 |
| LAUDER ESTEE COS CL A | 36,545 | 36,545 |
| LENNAR CORP RECLASSIFICATION | 69,159 | 69,159 |
| LYONDELLBASELL | 31,805 | 31,805 |
| MARSH & MCLENNAN COS INC | 34,490 | 34,490 |
| MATADOR RES CO | 0 | 0 |
| MATTELL INC | 0 | 0 |
| MEDTRONIC INC | 49,306 | 49,306 |
| MERCK & CO INC NEW COM | 57,257 | 57,257 |
| METLIFE INC | 47,439 | 47,439 |
| MICROSOFT CORP | 85,273 | 85,273 |
| MONDELEZ INTL INC | 0 | 0 |
| MYLAN INC | 0 | 0 |
| NABORS INDUSTRIES LTD NEW | 21,573 | 21,573 |
| NASDAQ OMX GROUP | 0 | 0 |
| NATL FUEL GAS CO | 0 | 0 |
| NAVIENT CORP | 0 | 0 |
| NESTLE S A SPONSORED ADR | 40,782 | 40,782 |
| NETAPP INC | 18,544 | 18,544 |
| NOVARTIS AG SPON ADR | 35,276 | 35,276 |
| OCCIDENTAL PETROLEUM CRP | 27,382 | 27,382 |
| ONEOK INC NEW | 0 | 0 |
| ORACLE CORP | 0 | 0 |
| PALO ALTO NETWORKS INC | 93,002 | 93,002 |
| PARAMOUNT GROUP INC | 0 | 0 |
| PEBBLEBROOK HOTEL TR | 5,548 | 5,548 |
| PENNY J CO INC | 42,118 | 42,118 |
| PENTAIR LTD | 9,014 | 9,014 |
| PEPSICO INC | 75,540 | 75,540 |
| PFIZER INC | 50,776 | 50,776 |
| PHILIP MORRIS INTL INC | 88,174 | 88,174 |
| PHILLIPS 66 | 0 | 0 |
| PNC FINANCIAL SERVICES GROUP | 52,897 | 52,897 |
| PPG INDUSTRIES INC | 65,122 | 65,122 |
| PRAXAIR INC | 24,883 | 24,883 |
| PRICE T ROWE GROUP INC | 39,320 | 39,320 |
| PROLOGIS INC COM | 13,520 | 13,520 |
| PRUDENTIAL FINANCIAL INC | 20,841 | 20,841 |
| PUBLIC STORAGE REIT | 25,018 | 25,018 |
| QUALCOMM INC | 0 | 0 |
| ROPER INDS INC NEW | 0 | 0 |
| SAUL CENTERS INC | 3,486 | 3,486 |
| SCHLUMBERGER LTD NETHERLANDS | 16,322 | 16,322 |
| SEALED AIR CORP NEW | 72,341 | 72,341 |
| SIMON PPTY GROUP INC SBI | 40,055 | 40,055 |
| SL GREEN REALTY CORP | 12,654 | 12,654 |
| SLM CORP VTG | 0 | 0 |
| SMUCHKER J M CO NEW | 26,148 | 26,148 |
| ST JUDE MEDICAL INC | 0 | 0 |
| STORE CAP CORP REIT | 2,877 | 2,877 |
| STATE STREET CORP | 20,505 | 20,505 |
| STRATEGIC HOTEL CAPITAL INC | 0 | 0 |
| STRYKER CORP | 47,585 | 47,585 |
| SUN COMMUNITIES INC | 4,660 | 4,660 |
| SUNSTONE HOTEL INVESTORS INC | 4,596 | 4,596 |
| SYSCO CORP | 59,409 | 59,409 |
| TARGET CORP | 18,298 | 18,298 |
| TAUBMAN CENTERS INC | 0 | 0 |
| TEREX CORP DELA NEW | 33,116 | 33,116 |
| TEXAS INSTRUMENTS | 40,231 | 40,231 |
| TEXTRON INC | 88,515 | 88,515 |
| THERMO RISHER SCIENTIFIC INC | 36,172 | 36,172 |
| TIME WARNER INC NEW | 32,788 | 32,788 |
| TJX COS INC NEW | 40,277 | 40,277 |
| TRANSCANADA CORP | 0 | 0 |
| TRAVELERS COS INC/THE | 65,685 | 65,685 |
| TYCO INTL LTD | 8,770 | 8,770 |
| UNION PACIFIC CORP | 16,266 | 16,266 |
| UNITED PARCEL SERVICE INC CL B | 0 | 0 |
| UNTD TECHNOLOGIES CORP | 0 | 0 |
| US BANCORP DEL | 20,354 | 20,354 |
| VALERO ENERGY CORP NEW | 0 | 0 |
| VENTAS INS | 13,148 | 13,148 |
| VERIZON COMMUNICATIONS | 0 | 0 |
| VF CORP | 18,488 | 18,488 |
| VORNADO REALTY TRUST | 4,498 | 4,498 |
| W P CAREY INC REIT | 0 | 0 |
| WALT DISNEY CO | 36,778 | 36,778 |
| WELLS FARGO & CO NEW | 41,096 | 41,096 |
| WILLIAMS COS INC (DEL) | 0 | 0 |
| WASHINGTON PRIME GROUP INC COM | 0 | 0 |
| WSTN DIGITAL CORP | 43,476 | 43,476 |
| XILINX INC | 0 | 0 |
| YAHOO INC | 0 | 0 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| ABBOTT LABS | AT COST | 41,003 | 41,003 |
| ABBVIE INC COM | AT COST | 35,603 | 35,603 |
| ACCENTURE PLC IRELAND CL | AT COST | 82,451 | 82,451 |
| ACCESS MIDSTREAM PARTNERS LP | AT COST | 0 | 0 |
| ALCOA INC | AT COST | 98,390 | 98,390 |
| ALEXANDRIA REAL ESTATE | AT COST | 6,144 | 6,144 |
| ALPHABET INC CL C | AT COST | 28,837 | 28,837 |
| AMER EXPRESS CO | AT COST | 29,141 | 29,141 |
| AMER EXPRESS CO | AT COST | 32,619 | 32,619 |
| AMERICAN TOWER CORP REIT | AT COST | 4,557 | 4,557 |
| AMERIGAS PARTNERS LP | AT COST | 2,228 | 2,228 |
| AMGEN INC | AT COST | 37,336 | 37,336 |
| APARTMENT INVT & MGMT CO CLA | AT COST | 10,928 | 10,928 |
| APPLE INC | AT COST | 74,314 | 74,314 |
| APPLE INC NTS B/E | AT COST | 97,911 | 97,911 |
| ARCHER DANIELS MIDLAND CO | AT COST | 22,191 | 22,191 |
| AT&T INC | AT COST | 37,472 | 37,472 |
| AUTODESKS INC | AT COST | 23,032 | 23,032 |
| AVAGO TECHNOLOGIES LTD SGD | AT COST | 64,592 | 64,592 |
| AVALONBAY COMMUNITIES INC SBI | AT COST | 13,994 | 13,994 |
| BAKER HUGHES INC | AT COST | 42,827 | 42,827 |
| BB&T CORP | AT COST | 28,736 | 28,736 |
| BLACKROCK INC NTS B/E | AT COST | 51,841 | 51,841 |
| BROADRIDGE FINANCIAL SOLUTIONS | AT COST | 39,545 | 39,545 |
| CAL-MAINE FOOD INC NEW | AT COST | 32,253 | 32,253 |
| CAMPNELL SOUP CO B/E | AT COST | 47,952 | 47,952 |
| CARE CAPITAL PROPERTIES INC REIT | AT COST | 1,681 | 1,681 |
| CDW CORP | AT COST | 18,876 | 18,876 |
| CHEVRON CORP | AT COST | 0 | 0 |
| CHURCH & DWIGHT CO INC | AT COST | 0 | 0 |
| CISCO SYSTEMS INC | AT COST | 37,908 | 37,908 |
| CISCO SYSTEMS INC | AT COST | 77,663 | 77,663 |
| COMCAST CORP NEW CL A | AT COST | 104,057 | 104,057 |
| COMENITY BANK | AT COST | 100,778 | 100,778 |
| COPELAND DIVERSIFIED | AT COST | 54,407 | 54,407 |
| CORAGRA FOOD INC | AT COST | 6,450 | 6,450 |
| CROWN CASTLE INTL CORP REIT | AT COST | 3,372 | 3,372 |
| CROWN CASTLE INTL CORP REIT | AT COST | 20,834 | 20,834 |
| CVS CAREMARK CORP | AT COST | 46,636 | 46,636 |
| CYPRESS SEMICONDUCTOR CP | AT COST | 21,543 | 21,543 |
| DISCOVER BANK | AT COST | 0 | 0 |
| DOW CHEMICAL | AT COST | 47,722 | 47,722 |
| EAGLE MLP STRATEGY | AT COST | 40,906 | 40,906 |
| EATON CORP LLC | AT COST | 14,155 | 14,155 |
| ENBRIDGE ENERGY PARTNER LP | AT COST | 7,267 | 7,267 |
| ENERGY TRANSFER EQUITY LP UNITS LTD PARTNERSHIP MLP | AT COST | 19,401 | 19,401 |
| ENERGY TRANSFER PARTNER LP MLP | AT COST | 14,841 | 14,841 |
| ENTERPRISE PRODUCTS PARTNER LP MLP | AT COST | 43,639 | 43,639 |
| EOG RESOURCES INC | AT COST | 24,564 | 24,564 |
| EOG RESOURCES INC | AT COST | 31,997 | 31,997 |
| EOG RESOURCES INC | AT COST | 19,396 | 19,396 |
| EQT MIDSTREAM PARTNER LP MLP | AT COST | 12,300 | 12,300 |
| EQUIFAX INC | AT COST | 22,831 | 22,831 |
| EQUINIX INC REIT | AT COST | 15,422 | 15,422 |
| EV ENERGY PARTNERS LP UNITS REPSTG TLD PARTNERS INTS MLP | AT COST | 0 | 0 |
| EVERCORE PARTNERS INC CL A | AT COST | 18,654 | 18,654 |
| EXPRESS SCRIPTS HLDG CO | AT COST | 40,733 | 40,733 |
| EXTRA SPACE STORAGE INC REIT | AT COST | 2,911 | 2,911 |
| FASTENAL CO | AT COST | 40,044 | 40,044 |
| FFCB BOND | AT COST | 96,590 | 96,590 |
| FHLB BOND | AT COST | 100,837 | 100,837 |
| FHLMC PL | AT COST | 4,906 | 4,906 |
| FL HURRICANE CATASTROPHE | AT COST | 108,055 | 108,055 |
| GENERAL ELEC CAP CORP | AT COST | 101,546 | 101,546 |
| GENESIS ENERGY LP UNIT LTD PARTNERSHIP INT MLP | AT COST | 9,993 | 9,993 |
| GENL ELEC CAP CORP NTS | AT COST | 40,699 | 40,699 |
| GENL ELECTRIC CO | AT COST | 55,709 | 55,709 |
| GILEAD SCIENCES INC | AT COST | 40,172 | 40,172 |
| GILEAD SCIENCES INC | AT COST | 41,690 | 41,690 |
| GLAXOSMITHKLINE CAP INC | AT COST | 0 | 0 |
| GOLDMAN SACHS GROUP INC | AT COST | 62,540 | 62,540 |
| GRAINGER WW INC | AT COST | 32,617 | 32,617 |
| HERDERSON GLOBAL EQUITY INCOME FUND | AT COST | 49,643 | 49,643 |
| HOME DEPOT INC | AT COST | 71,547 | 71,547 |
| HONEYWELL INTL INC | AT COST | 37,907 | 37,907 |
| HUDSON OAC PPTYS INC COM | AT COST | 2,870 | 2,870 |
| INTERCONTINENTALEXCHANGE GROUP | AT COST | 48,433 | 48,433 |
| INTL BUSINESS MACH | AT COST | 17,615 | 17,615 |
| J P MORGAN CHASE & CO | AT COST | 104,422 | 104,422 |
| JOHNSON & JOHNSON B/E | AT COST | 106,251 | 106,251 |
| JOHNSON & JOHNSON COM | AT COST | 48,689 | 48,689 |
| JOHNSON CONTROL INC | AT COST | 20,298 | 20,298 |
| JOHNSON CONTROL INC | AT COST | 34,554 | 34,554 |
| JPMORGAN CHASE & CO | AT COST | 68,539 | 68,539 |
| JPMORGAN CHASE & CO | AT COST | 43,580 | 43,580 |
| JPMORGAN CHASE & CO | AT COST | 97,989 | 97,989 |
| KAYNE ANDERSON MLP | AT COST | 50,378 | 50,378 |
| LASALLE HOTEL PRPERTIES SBI | AT COST | 0 | 0 |
| LORD ABBETT GROWTH LEADER FUND | AT COST | 98,975 | 98,975 |
| LOWES COMPANIES | AT COST | 24,105 | 24,105 |
| MAGELLAN MIDSTREAM PARTNERS LP | AT COST | 28,255 | 28,255 |
| MARKWEST ENERGY PARNERS LP | AT COST | 29,237 | 29,237 |
| MEDTRONIC INC | AT COST | 33,153 | 33,153 |
| MEDTRONIC INC | AT COST | 40,383 | 40,383 |
| MERCK & CO INC NEW COM | AT COST | 52,133 | 52,133 |
| MERCK & CO INC NEW COM | AT COST | 54,774 | 54,774 |
| MICROSOFT CORP | AT COST | 98,588 | 98,588 |
| MONSANTO CO NEW | AT COST | 32,413 | 32,413 |
| MPLX LP MLP | AT COST | 15,614 | 15,614 |
| MURPHY OIL CORP B/E | AT COST | 0 | 0 |
| MURPHY OIL CORP B/E | AT COST | 38,405 | 38,405 |
| NASDAQ INC | AT COST | 41,359 | 41,359 |
| NEXTERA ENERGY INC COM | AT COST | 37,504 | 37,504 |
| NORTHGROUP GRUMMAN CORP | AT COST | 62,118 | 62,118 |
| OCCIDENTAL PETROLEUM CRP | AT COST | 35,292 | 35,292 |
| OCCIDENTAL PETROLEUM CRP | AT COST | 35,698 | 35,698 |
| ONEOK PARTNERS LP | AT COST | 9,401 | 9,401 |
| ORBITAL ATK INC COM | AT COST | 23,764 | 23,764 |
| PENTAIR PLC | AT COST | 31,154 | 31,154 |
| PEPSICO INC | AT COST | 42,766 | 42,766 |
| PEPSICO INC | AT COST | 34,672 | 34,672 |
| PFIZER INC | AT COST | 70,274 | 70,274 |
| PHILIP MORRIS INTL INC | AT COST | 0 | 0 |
| PLAINS ALL AMER PIPELINE LP | AT COST | 12,728 | 12,728 |
| PNC FINANCIAL SERVICES GROUP | AT COST | 24,399 | 24,399 |
| QUALCOMM INC | AT COST | 0 | 0 |
| REGENCY ENERGY PARTNERS LP | AT COST | 0 | 0 |
| SCHLUMBERGER LTD NETHERLANDS | AT COST | 43,524 | 43,524 |
| SHELL MIDSTREAM PARTNERS LP | AT COST | 3,405 | 3,405 |
| SKYWORKS SOLUTIONS INC | AT COST | 35,188 | 35,188 |
| SPDR S & P 500 EFT TR | AT COST | 39,755 | 39,755 |
| STATE STREET CORP | AT COST | 71,934 | 71,934 |
| SYNCHRONY FINL | AT COST | 14,536 | 14,536 |
| TALLGRASS ENERGY PARTNERS LP | AT COST | 4,616 | 4,616 |
| TARGA RESOURCES PARTNERS LP | AT COST | 0 | 0 |
| TARGET CORP | AT COST | 34,708 | 34,708 |
| TECHNOLOGY SECTOR SPDR TRUST | AT COST | 61,033 | 61,033 |
| TEVA PHARMACEUTICAL IND LTD | AT COST | 42,535 | 42,535 |
| TRAVELERS COS INC/THE | AT COST | 74,149 | 74,149 |
| TYCO INTL PLC | AT COST | 34,920 | 34,920 |
| UNDER ARMOUR INC CL A | AT COST | 16,847 | 16,847 |
| UNION PACIFIC CORP | AT COST | 12,903 | 12,903 |
| UNITEDHEALTH GROUP INC | AT COST | 30,469 | 30,469 |
| UNTD TECHNOLOGIES CORP | AT COST | 34,489 | 34,489 |
| UNTD TECHNOLOGIES CORP | AT COST | 25,857 | 25,857 |
| VARIOUS OTHER INVESTMENTS | AT COST | 0 | 0 |
| VCA INC | AT COST | 20,625 | 20,625 |
| VEREIT INC SBI | AT COST | 1,798 | 1,798 |
| VERIZON COMMUNICATIONS | AT COST | 83,587 | 83,587 |
| WALT DISNEY CO | AT COST | 53,065 | 53,065 |
| WELLS FARGO & CO NEW | AT COST | 104,371 | 104,371 |
| WELLTOWER INC REIT | AT COST | 8,164 | 8,164 |
| WESTERN GAS PARTNERS LP(WES) | AT COST | 2,139 | 2,139 |
| WILLIAMS PARTNERS LP UNIT LTD PARTNERSHIP INT | AT COST | 8,077 | 8,077 |
| ZIONS BANCORP | AT COST | 29,047 | 29,047 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| PAINTINGS AND ART WORK | 6,990,000 | 6,566,800 | 6,566,800 |
| Description | Amount |
|---|---|
| UNREALIZED GAIN ON SECURITIES | 1,415,296 |
| CHANGE IN VALUATION OF ARTWORK | 423,200 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INSURANCE | 10,838 | 0 | 10,838 | |
| DUES AND SUBSCRIPTIONS | 952 | 0 | 952 | |
| POSTAGE | 2,375 | 0 | 2,375 | |
| OTHER | 250 | 0 | 250 | |
| LECTURE SERIES | 40,859 | 0 | 40,859 | |
| ART CONSERVATION | 1,785 | 0 | 1,785 | |
| WAREHOUSE RENTAL | 6,457 | 0 | 6,457 | |
| OFFICE EXPENSE | 4,203 | 0 | 4,203 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PAYROLL TAXES | 14,550 | 0 | 14,550 |