| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 18,266 | 0 | 18,266 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| GOLDMAN SACHS 2.9% | 1,030,360 | 1,032,519 |
| JP MORGAN CHASE 3.45% | 1,048,700 | 1,015,574 |
| AT & T INC 3.900% | 1,055,690 | 1,032,898 |
| AETNA INC 2.7500% | 1,007,560 | 974,888 |
| WELLS FARGO & COMPANY 2.1500% | 1,006,350 | 1,000,198 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| PUTNAM DIVERSIFIED INCOME TRUST-CLASS A | 0 | 0 |
| PUTNAM HIGH YIELD ADVANTAGE FUND | 0 | 0 |
| AIM HIGH YIELD FUND | 0 | 0 |
| EATON VANCE INC. FUND | 0 | 0 |
| DREYFUS HIGH YIELD STRATEGIES FUND | 0 | 0 |
| HIGHLAND CREDIT STRATEGIES FUND | 0 | 0 |
| CREDIT SUISSE HI YIELD BOND FUND | 0 | 0 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| FANNIE MAE 2.75% | AT COST | 0 | 0 |
| FEDERAL HOME LOAN BANK 2.75% | AT COST | 0 | 0 |
| FEDERAL HOME LOAN MORTGAGE CORP 3.75% | AT COST | 1,335,235 | 1,296,417 |
| LARGECAP VALUE EQUITY | AT COST | 10,275,173 | 10,546,059 |
| SMIDCAP PLUS INVESTEMNT | AT COST | 3,638,454 | 3,984,679 |
| SMALLCAP VALUE EQUITY | AT COST | 3,115,346 | 3,188,711 |
| ALLCAP GROWTH EQUITY | AT COST | 9,497,783 | 10,104,030 |
| GLOBAL EQUITY | AT COST | 8,780,850 | 9,782,410 |
| EMERGING MARKETS | AT COST | 3,380,332 | 3,061,946 |
| HIGH YIELD BOND | AT COST | 3,400,229 | 2,977,897 |
| SHORT DURATION HIGH YIELD BOND | AT COST | 5,790,821 | 5,465,208 |
| GLOBAL STRATEGIC DIVERSIFICATION | AT COST | 2,400,286 | 2,146,594 |
| INCOME OPPORTUNITY | AT COST | 13,576,122 | 14,125,369 |
| REIT INVESTMENT | AT COST | 2,065,735 | 2,268,696 |
| FHLB .67% | AT COST | 0 | 0 |
| FHLB .65% | AT COST | 0 | 0 |
| FANNIE MAE .75% | AT COST | 0 | 0 |
| FNMA .50% | AT COST | 548,075 | 550,288 |
| FANNIE MAE 2.625% | AT COST | 1,056,460 | 1,018,873 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 13,521 | 0 | 13,521 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OTHER EXPENSES | 2,427 | 0 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| WESTWOOD - CLASS ACTION SETTLEMENT | 586 | 586 | 586 |
| ACCRUED INTEREST | 74,115 | 74,115 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| CONSULTING FEE | 26,000 | 0 | 26,000 | |
| WESTWOOD ASSET MANAGEMENT FEE | 398,441 | 398,441 | 0 | |
| FELTL MANAGEMENT FEE | 40 | 40 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES | 24,246 | 24,246 | 0 | |
| EXCISE TAX | 45,942 | 0 | 0 |