| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| SMITH, DUKES & BUCKALEW - TAX RETURN PREPARATION | 3,225 | 0 | 3,225 | |
| REGIONS BANK - TAX RUN PROCESSING | 175 | 0 | 175 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 115,000 IBM BD | 115,968 | 115,688 |
| 112,000 MOR STANLEY | 112,280 | 112,539 |
| 117,000 RBC | 117,024 | 116,446 |
| 48,000 HESS CORP 8.125% | 52,424 | 54,402 |
| 45,000 CATERPILLAR INC 7.9% 12/15/18 | 45,279 | 52,651 |
| 46,000 GOLDMAN SACHS GROUP 7.5% 02/15/19 | 48,114 | 52,636 |
| 48,000 COMCAST CORP 5.7% | 48,252 | 53,819 |
| 51,000 MERRILL LYNCH CO 6.875% | 51,176 | 56,267 |
| 48,000 TALSMAN ENERGY 7.75% | 51,625 | 51,725 |
| 53,000 AT&T INC 5.6% | 52,290 | 57,491 |
| 53,000 CA INC 5.37% 12/01/19 | 53,800 | 57,194 |
| 49,000 GE CAP CORP 5.3% | 49,234 | 55,254 |
| 50,000 ORACEL CORP 5.75% 04/15/18 | 50,398 | 54,556 |
| 51,000 PRUDENTIAL FINL 4.5% 11/15/20 | 50,660 | 54,733 |
| 51,000 TARGET CORP 5.375% 05/01/17 | 50,047 | 53,841 |
| 51,000 WACHOVIA CORP 5.75% 06/15/17 | 44,283 | 53,989 |
| 57,000 ANHAU-BUSCH 2.875% | 57,067 | 57,109 |
| 54,000 CISCO SYSTEMS INC | 55,270 | 54,344 |
| 58,000 DUKE ENERGY 2.15% | 58,054 | 58,348 |
| 54,000 INTEL CORP 3.3% | 53,795 | 55,934 |
| 58,000 PETROBRAS INTL 5.75% | 57,937 | 45,530 |
| 54,000 TOYOTO MOTOR 3.4% | 53,864 | 55,956 |
| 58,000 WALGREENS BOOTS | 58,283 | 56,270 |
| 55,000 FORD MOTOR CREDIT | 55,041 | 54,153 |
| 55,000 KRAFT FOODS 4.125% | 54,954 | 55,142 |
| 55,000 MOLSON COORS CO | 55,464 | 55,302 |
| 55,000 SUNTRUST BANK 3.5% | 54,960 | 55,949 |
| 56,000 CHEVRON CORP | 56,074 | 55,615 |
| 56,000 JOHN DEERE CAPITAL CORP | 55,989 | 56,213 |
| 57,000 AM EXPRESS CC 2.60% | 56,956 | 57,132 |
| 58,000 CITIGROUP INC | 57,942 | 57,531 |
| APPLE INC - 57,000 BD | 56,920 | 56,537 |
| MARATHON OIL CORP - 60,000 | 57,605 | 50,706 |
| PEPSICO INC SERIES 1 - 54,000 | 53,933 | 53,719 |
| DEUTSCHE BANK BOND - 57,000 | 57,018 | 56,515 |
| JP MORGAN CHASE & CO -- 48,000 | 54,262 | 53,822 |
| TORONTO-DOMINION BANK - 53,000 | 54,254 | 54,014 |
| ASTRAZENECA PLC - 53,000 | 53,002 | 52,851 |
| GILEAD SCIENCES -- 54,000 | 53,899 | 54,458 |
| UNITED HEALTH GROUP INC - 54,000 | 54,070 | 54,002 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| COGNIZANT TECH SOLUTIONS - 1600 SHS | 70,936 | 96,032 |
| 3M CO - - 1,200 SHS | 90,586 | 180,768 |
| ABBVIE INC - 2900 SHS | 183,715 | 171,796 |
| AMERICAN EXPRESS -- 1,200 | 9,226 | 83,460 |
| AMERICAN INTL GROUP - 1,600 | 88,064 | 99,152 |
| APPLE INC - 2,150 | 169,723 | 226,309 |
| AT&T - 3700 SHS | 134,929 | 127,317 |
| AUTO DESK INC -- 1,400 | 57,180 | 85,302 |
| BLACK WARRIOR COAL CO -- 250 | 86,345 | 38,100 |
| BLACKROCK INC - 250 | 44,202 | 85,130 |
| CELGENE CORP - 1,600 SHS | 131,207 | 191,616 |
| CISCO SYS INC. - 3,000 | 47,100 | 81,465 |
| CITIGROUP INC -- 3,500 | 175,143 | 181,125 |
| CITRIX SYSTEMS - 1,100 SHS | 67,191 | 83,215 |
| COCA COLA CO -- 2,500 | 27,344 | 107,400 |
| CVS/CAREMARK CORP - 1,900 | 59,660 | 185,763 |
| DOMINION RES INC -- 1,000 | 12,460 | 67,640 |
| DU PONT EI DE NEMOURS -- 700 | 16,645 | 46,620 |
| ECOLAB INC - 1500 SHS | 160,217 | 171,570 |
| EXXON MOBIL CORP -- 1,900 | 29,717 | 148,105 |
| FEDEX CORP - 1000 SHS | 170,793 | 148,990 |
| FORD MOTOR CO -- 6,150 | 91,314 | 86,653 |
| GENERAL ELECTRIC CO-- 5,800 | 141,240 | 180,670 |
| ALPHABET INC, CL A -- 130 | 56,469 | 101,141 |
| ALPHABET INC, CL C - 135 SHS | 57,951 | 102,449 |
| HONEYWELL INTL INC --1,600 | 123,754 | 165,712 |
| INTEL CORP -- 5,800 | 22,203 | 199,810 |
| INTUIT INC -- 1,950 | 145,334 | 188,175 |
| INVESCO LTD -- 3,800 | 126,426 | 127,224 |
| JP MORGAN CHASE & CO -- 2,900 | 44,676 | 191,487 |
| LYONDELLBASELL INDUS -- 1,900 | 152,412 | 165,110 |
| MCKESSON CORP -- 800 | 86,488 | 157,784 |
| MEAD JOHNSON CO - 900 | 89,568 | 71,055 |
| MERCK & CO-- 1,700 | 58,768 | 89,794 |
| NEXTRA ENERGY INC-- 1,000 | 53,196 | 103,890 |
| NORTHROP GRUMMAN -- 800 | 21,791 | 151,048 |
| ORACLE CORP - 6,900 | 176,348 | 252,057 |
| PEPSICO INC. - 1,000 | 43,370 | 99,920 |
| PFIZER -- 5,000 | 143,436 | 161,400 |
| PHILLIPS 66 -- 1,200 | 70,842 | 98,160 |
| PRUDENTIAL FINL INC - 900 | 43,704 | 73,269 |
| QUALCOMM INC - - 2,500 | 105,595 | 124,962 |
| RAYTHEON -- 900 | 28,339 | 112,077 |
| SCHLUMBERGER LTD -- 2,500 | 78,680 | 174,375 |
| SOUTHERN CO -- 2,000 | 46,309 | 93,580 |
| STARBUCKS CORP -- 1,500 | 56,665 | 90,045 |
| STRYKER CORP - - 900 | 51,706 | 83,646 |
| THE HERSEY CO - 1900 | 183,653 | 169,613 |
| THERMO FISHER INC - 750 | 31,908 | 106,387 |
| UNION PACIFIC -- 1,600 | 15,190 | 125,120 |
| UNITED TECH CORP - - 1,100 SHS | 75,830 | 105,677 |
| VERIZON COMMUNICATIONS -- 3,300 | 121,788 | 152,526 |
| WALT DISNEY CO -- 1,600 | 87,920 | 168,128 |
| WELLS FARGO CO - 5,000 | 171,569 | 271,800 |
| MODELEZ INTL - 2,000 | 83,740 | 89,680 |
| FACEBOOK INC - 1100 | 88,449 | 115,126 |
| NIKE INC - 3,400 | 178,404 | 212,500 |
| NORDSTROM INC - 2,000 | 157,560 | 99,620 |
| REGAL ENTMT GROUP - 8,500 | 181,885 | 160,395 |
| HOLLYFRONTIER CORP - 3,600 | 159,730 | 143,604 |
| SUNTRUST BANKS - 4,300 | 186,360 | 184,212 |
| ACE LTD - 1,200 | 134,509 | 140,220 |
| BRISTOL MYERS SQUIBB CO - 2,700 | 185,274 | 185,733 |
| VERTEX PHARMACEU INC - 700 | 89,034 | 88,081 |
| MEDTRONICS PLC - 1,200 | 94,344 | 92,304 |
| WASTE MANAGEMENT INC - 1,500 | 77,505 | 80,055 |
| MICROCHIP TECH INC - 2,000 | 83,880 | 93,080 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| 740 FNMA | AT COST | 788 | 766 |
| 39,200 FNMA | AT COST | 44,314 | 43,881 |
| 26,257 FNMA | AT COST | 27,586 | 27,849 |
| 38,875 FNMA | AT COST | 40,071 | 40,254 |
| 20,940 FNMA | AT COST | 22,274 | 22,766 |
| 35,484 FNMA | AT COST | 36,740 | 37,642 |
| 47,252 FNMA | AT COST | 47,141 | 48,841 |
| 15,289 FHLMC | AT COST | 16,443 | 16,531 |
| 22,928 FHLMC | AT COST | 24,924 | 25,304 |
| 22,737 FHLMC | AT COST | 24,059 | 24,013 |
| 47,529 FNMA | AT COST | 47,618 | 48,158 |
| 101,031 FNMA | AT COST | 104,062 | 101,485 |
| 52,077 FNMA | AT COST | 52,044 | 52,183 |
| 12,554 FHLMC | AT COST | 13,323 | 13,542 |
| 41984 FNMA | AT COST | 46,340 | 47,900 |
| 20,906 FHLMC | AT COST | 22,141 | 22,144 |
| 97,297 FHLMC | AT COST | 100,368 | 98,278 |
| 6,474 FNMA | AT COST | 6,888 | 6,777 |
| 23,828 FNMA | AT COST | 25,701 | 26,340 |
| 62,096 - FNMA | AT COST | 63,872 | 70,157 |
| 18,935 FHLMC | AT COST | 19,231 | 19,126 |
| 309,000 FNMA | AT COST | 313,841 | 311,880 |
| 8,234 FNMA | AT COST | 8,947 | 9,325 |
| 7,201 FNMA | AT COST | 7,713 | 8,187 |
| 11,692 FNMA | AT COST | 12,427 | 13,217 |
| 1,117 FNMA | AT COST | 1,219 | 1,263 |
| 6,383 FNMA | AT COST | 6,777 | 7,206 |
| 10,493 FNMA | AT COST | 11,434 | 11,794 |
| 4,564 FNMA | AT COST | 4,609 | 4,899 |
| 16,645 FNMA | AT COST | 17,605 | 17,620 |
| 4,497 FNMA | AT COST | 4,893 | 5,125 |
| AMER EUROPACIFIC GRTH FD - 17,550 | AT COST | 610,000 | 794,117 |
| AMERICAN CENTURY S.C. FD -14,062 | AT COST | 131,000 | 107,437 |
| ARTISAN MID CAP VALUE FD - 14,675 | AT COST | 207,000 | 275,152 |
| ISHARES RUSSELL 1000 FD-- 4,000 | AT COST | 244,640 | 391,440 |
| JP MORGAN MID CAP FD - 3,195 | AT COST | 97,400 | 108,520 |
| MFS RESH INTL FD - 4366.812 | AT COST | 50,000 | 70,699 |
| NATIONWIDE MID CAP FD - 17,087 | AT COST | 414,700 | 422,727 |
| REGIONS SE TIMBER FD - 5,025 | AT COST | 502,500 | 555,182 |
| TEMPLETON GLOBAL BD FD - 25,020 | AT COST | 324,715 | 288,483 |
| VIRTUS EMERGING MKTS FD - 6,800 | AT COST | 68,473 | 60,924 |
| VIRTUS SMALL CAP FD - 4,625 | AT COST | 100,300 | 100,274 |
| INVESCO INTL GROWTH FD - 900 | AT COST | 29,600 | 28,286 |
| ISHARES CORE S&P SC FD - 5,475 | AT COST | 649,942 | 602,852 |
| ISHARES MSCI FD - 17,000 | AT COST | 804,782 | 673,370 |
| RS SMALL CAP GROWTH FD - 333 | AT COST | 25,000 | 22,057 |
| 33,621 FHLMC | AT COST | 35,165 | 35,251 |
| 18,216 FNMA | AT COST | 19,594 | 19,822 |
| 37,238 FNMA | AT COST | 39,327 | 38,509 |
| 27,955 FNMA | AT COST | 29,003 | 29,327 |
| JOHN HANDCOCK FUNDS III - 15,137 | AT COST | 155,000 | 135,171 |
| PIMCO FOREIGN BOND FD - 28,466 | AT COST | 310,000 | 282,103 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 456 | 456 | 0 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| D & O INSURANCE | 3,110 | 0 | 3,110 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| REGIONS SE TIMBER FD II, ORD LOSS | -12,818 | -12,818 | -12,818 |
| REGIONS SE TIMBER FD II, 1231 GAIN | 2,573 | 2,573 | 2,573 |
| Description | Amount |
|---|---|
| BOOK/TAX TIMING DIFFERENCE | 1,524 |
| PARTNERSHIP INCOME (LOSS) BOOK/TAX TIMING DIFFERENCE | 15,237 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN WITHHOLDING TAXES | 3,269 | 3,269 | 0 | |
| EXCISE TAX PAYMENTS - 2014 | 6,327 | 0 | 0 | |
| EXCISE TAX PAYMENTS - 2015 | 42,192 | 0 | 0 |