TY 2015 Form 990PF

Part I	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books	(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)
	1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check Sch. B .............
3	Interest on savings and temporary cash investments	58	58
4	Dividends and interest from securities...	372,675	371,386
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		374,806
b	Gross sales price for all assets on line 6a 2,200,953
7	Capital gain net income (from Part IV, line 2)...		374,806
8	Net short-term capital gain.........			0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	747,539	746,250
	13	Compensation of officers, directors, trustees, etc.	137,955	90,465		47,490
14	Other employee salaries and wages......		0	0	0
15	Pension plans, employee benefits.......		0	0
16a	Legal fees (attach schedule).........		3,779	0	0	3,779
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		542	542		0
17	Interest...............				0
18	Taxes (attach schedule) (see instructions)...					0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......		0	0
22	Printing and publications..........		0	0
23	Other expenses (attach schedule).......		912			912
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	143,188	91,007	0	52,181
25	Contributions, gifts, grants paid.......	650,000			650,000
26	Total expenses and disbursements. Add lines 24 and 25	793,188	91,007	0	702,181
	27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-45,649
b	Net investment income (if negative, enter -0-)		655,243
c	Adjusted net income (if negative, enter -0-)...			0

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	407,079	245,624	245,624
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	810,050	890,096	893,474
	b	Investments—corporate stock (attach schedule).......	3,506,213	3,794,524	8,413,648
	c	Investments—corporate bonds (attach schedule).......	4,130,745	3,858,928	3,833,438
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	100,894	100,894	100,953
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	8,954,981	8,890,066	13,487,137
	17	Accounts payable and accrued expenses..........
	18	Grants payable..................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........	8,954,981	8,890,066
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see instructions).....	8,954,981	8,890,066
	31	Total liabilities and net assets/fund balances (see instructions).	8,954,981	8,890,066

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	2000. ABBOTT LABS		1978-05-24	2015-11-05
b	550. AMERIPRISE FINL INC		2015-11-05	2016-02-29
c	34. APARTMENT INVT & MGMT CO CL A		2015-01-29	2016-01-13
d	25000. BANK OF NOVA SCOTIA 2.050% 10/07/15		2014-03-10	2015-07-07
e	30. BOEING CO		2014-05-07	2016-02-29
	300. BOEING CO		2015-11-05	2016-02-29
	41. BROOKDALE SR LIVING INC		2015-01-29	2015-09-11
	14. CBL & ASSOC PPTYS INC COM		2015-01-29	2015-10-22
	12. CAMDEN PPTY TR SH BEN INT		2015-01-29	2015-07-06
	31. CAMDEN PPTY TR SH BEN INT		2015-01-29	2015-09-21
	1050. CAPITAL ONE FINANCIAL CORP		2012-08-10	2015-04-09
	.5 CARE CAPITAL PROPERTIES INC		2015-01-29	2015-08-26
	23. CARE CAPITAL PROPERTIES INC		2015-02-11	2016-01-13
	1500. CITIGROUP INC.		2015-07-09	2016-02-29
	25000. VR COCA-COLA CO/THE 0.215% 3/05/15		2014-03-03	2015-03-05
	9. CUBESMART		2015-01-29	2016-02-17
	29. CYRUSONE INC		2015-07-06	2015-10-22
	54. DDR CORP		2015-01-29	2016-02-08
	25000. JOHN DEERE CAPITAL 2.250% 6/07/16		2014-02-13	2015-07-30
	12. EXTRA SPACE STORAGE INC		2015-01-29	2015-05-27
	22. EXTRA SPACE STORAGE INC		2015-01-29	2015-07-21
	500. EXXON MOBIL CORPORATION		1972-12-29	2015-04-09
	2. FEDERAL RLTY INVT TR SH BEN INT		2015-01-29	2016-02-17
	26. FIRST INDL RLTY TR INC COM		2015-01-29	2015-12-08
	11. FIRST INDL RLTY TR INC COM		2015-01-29	2016-02-17
	25000. FRANKLIN RESOURCES 3.125% 5/20/15		2014-02-13	2015-05-20
	7. GEO GROUP INC/THE		2015-01-29	2016-02-17
	.3157 GOOGLE INC-CL C		2014-03-06	2015-05-06
	25000. HEWLETT-PACKARD CO 2.600% 9/15/17		2014-02-18	2015-10-14
	12. HOST HOTELS & RESORTS, INC.		2015-01-29	2015-03-04
	52. HOST HOTELS & RESORTS, INC.		2015-01-29	2016-01-27
	79. HOST HOTELS & RESORTS, INC.		2015-01-29	2016-02-08
	600. INTERNATIONAL BUSINESS MACHS CORP		1998-02-23	2015-11-05
	20. KILROY REALTY CORP COM		2015-01-29	2015-11-25
	19. KIMCO RLTY CORP		2016-02-08	2016-02-17
	8966.548 LAUDUS MONDRIAN INT GV FI-INST #2940		2009-05-22	2015-12-29
	5. MACERICH CO COM		2015-03-24	2015-04-01
	7. MACERICH CO COM		2015-03-24	2015-04-08
	10. MACERICH CO COM		2015-10-22	2015-11-25
	490. NATIONAL OILWELL INC COM		2013-07-11	2015-07-09
	22396.417 PIMCO HIGH YIELD FD-INST #108		2012-04-11	2015-08-27
	15. PARAMOUNT GROUP INC		2015-01-29	2015-04-30
	33. PARAMOUNT GROUP INC		2015-01-29	2015-05-13
	41. PARAMOUNT GROUP INC		2015-01-29	2015-05-14
	17653.534 T ROWE CORPORATE INCOME FD #112		2012-08-21	2015-12-29
	900. PROCTER & GAMBLE CO		1976-05-06	2016-02-29
	2. PUBLIC STORAGE INC COM		2015-01-29	2015-12-29
	9. PUBLIC STORAGE INC COM		2015-01-29	2016-02-08
	6. PUBLIC STORAGE INC COM		2015-01-29	2016-02-17
	400. ROSS STORES INC		2010-10-15	2015-04-09
	800. ROSS STORES INC		2010-10-15	2015-07-09
	8. SL GREEN REALTY CORP COM		2015-01-29	2015-12-29
	50000. ST PAUL TRAVELERS 5.500% 12/01/15		2014-03-11	2015-12-01
	2. SIMON PROPERTY GROUP INC		2015-01-29	2015-03-04
	162. STRATEGIC HOTELS & RESORTS INC		2015-01-29	2015-10-22
	156. SUNSTONE HOTEL INVS INC NEW		2016-02-01	2016-02-01
	.8475 SUNSTONE HOTEL INVS INC NEW		2016-02-01	2016-02-04
	8. TAUBMAN CTRS INC COM		2015-01-29	2015-03-13
	17. TAUBMAN CTRS INC COM		2015-01-29	2015-03-24
	3. TAUBMAN CTRS INC COM		2015-01-29	2015-03-31
	1600. US BANCORP		2015-04-09	2015-07-09
	25000. US BANCORP 2.450% 7/27/15		2014-02-13	2015-07-27
	85000. US TREASURY NOTE 1.750% 9/30/19		2014-12-16	2016-01-26
	50000. US TREASURY NOTE 1.750% 9/30/19		2014-12-16	2016-02-03
	100000. US TREASURY NOTE 1.375% 3/31/20		2015-04-22	2016-02-03
	100000. US TREASURY NOTE 1.875% 10/31/17		2014-02-13	2015-10-15
	20000. US TREASURY NOTE 1.000% 9/30/16		2014-09-11	2015-07-07
	30000. US TREASURY NOTE 1.000% 9/30/16		2014-09-11	2015-08-25
	100000. US TREASURY NOTE 1.000% 10/31/16		2014-02-13	2015-04-22
	50000. US TREASURY NOTE 1.625% 7/31/19		2014-08-15	2016-02-03
	9. URBAN EDGE PROPERTIES-W/I		2015-01-29	2015-05-27
	14. URBAN EDGE PROPERTIES-W/I		2015-01-29	2015-06-25
	6. VENTAS INC COM		2015-01-29	2015-12-08
	15. VENTAS INC COM		2015-01-29	2015-12-29
	24. VENTAS INC COM		2015-01-29	2016-01-13
	17. VENTAS INC COM		2015-01-29	2016-01-27
	12. VENTAS INC COM		2015-01-29	2016-02-08
	23. VEREIT, INC.		2015-01-29	2015-08-04
	95. VEREIT, INC.		2015-01-29	2016-02-08
	5. VORNADO REALTY TRUST		2015-01-29	2015-05-27
	22. VORNADO REALTY TRUST		2015-01-29	2015-06-29
	8170.003 CRM MID CAP VALUE FD-INSTL #32		2009-02-06	2016-01-11
	20. WP GLIMCHER INC		2015-01-29	2015-06-29
	21. WP GLIMCHER INC		2015-01-29	2015-08-03
	33. WELLTOWER INC		2015-01-29	2015-11-02
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	90,439	940	89,499
b	46,364	64,260	-17,896
c	1,328	1,388	-60
d	25,062	25,606	-544
e	3,559	3,897	-338
	35,588	44,330	-8,742
	1,094	1,398	-304
	211	293	-82
	921	951	-30
	2,275	2,456	-181
	84,125	58,411	25,714
	16	21	-5
	699	962	-263
	58,724	80,670	-21,946
	25,000	25,000
	263	227	36
	1,018	854	164
	875	1,086	-211
	25,222	25,902	-680
	849	809	40
	1,552	1,483	69
	42,139	1,356	40,783
	296	295	1
	583	585	-2
	222	248	-26
	25,000	25,831	-831
	204	306	-102
	176	192	-16
	25,810	25,793	17
	251	284	-33
	703	1,231	-528
	1,085	1,870	-785
	83,945	30,968	52,977
	1,345	1,529	-184
	508	511	-3
	81,954	98,363	-16,409
	401	436	-35
	548	611	-63
	794	861	-67
	21,890	32,319	-10,429
	200,000	187,685	12,315
	274	286	-12
	612	652	-40
	756	810	-54
	163,119	178,000	-14,881
	72,575	2,542	70,033
	503	408	95
	2,060	1,838	222
	1,480	1,225	255
	41,291	11,273	30,018
	40,417	11,273	29,144
	911	1,035	-124
	50,000	54,230	-4,230
	376	410	-34
	2,275	2,240	35
	28		28
	10	9	1
	612	668	-56
	1,353	1,419	-66
	233	250	-17
	68,911	69,647	-736
	25,000	25,722	-722
	86,501	86,019	482
	51,209	50,561	648
	100,832	99,934	898
	102,520	103,059	-539
	20,155	20,154	1
	30,191	30,231	-40
	100,828	101,070	-242
	51,008	50,260	748
	198	218	-20
	307	339	-32
	321	423	-102
	845	1,057	-212
	1,347	1,692	-345
	915	1,198	-283
	644	846	-202
	202	218	-16
	700	899	-199
	510	563	-53
	2,116	2,479	-363
	150,165	155,884	-5,719
	275	356	-81
	289	373	-84
	2,146	2,761	-615
			131,447

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			89,499
b			-17,896
c			-60
d			-544
e			-338
			-8,742
			-304
			-82
			-30
			-181
			25,714
			-5
			-263
			-21,946

			36
			164
			-211
			-680
			40
			69
			40,783
			1
			-2
			-26
			-831
			-102
			-16
			17
			-33
			-528
			-785
			52,977
			-184
			-3
			-16,409
			-35
			-63
			-67
			-10,429
			12,315
			-12
			-40
			-54
			-14,881
			70,033
			95
			222
			255
			30,018
			29,144
			-124
			-4,230
			-34
			35
			28
			1
			-56
			-66
			-17
			-736
			-722
			482
			648
			898
			-539
			1
			-40
			-242
			748
			-20
			-32
			-102
			-212
			-345
			-283
			-202
			-16
			-199
			-53
			-363
			-5,719
			-81
			-84
			-615

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	374,806
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2014	667,093	14,694,248	0.045398
2013	557,046	14,053,442	0.039638
2012	141,518	13,142,737	0.010768
2011	639,321	12,554,802	0.050922
2010	548,962	12,220,042	0.044923

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	6,552
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	6,552
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	6,552
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a	7,540
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	7,540
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	988
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax988	Refunded	11	0

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)
WELLS FARGO BANK	CO-TRUSTEE 40	131,955
1525 WEST WT HARRIS BLVD CHARLOTTE,NC282881114
VINCENT T MARCHESI MD	SCIENTIFIC ADVISOR 15	6,000
179 PROSPECT AVE GUILFORD,CT06437
RICHARD N PALMER	CO-TRUSTEE 0	0
231 CAPITOL AVE HARTFORD,CT06106

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

		(a) Corpus	(b) Years prior to 2014	(c) 2014	(d) 2015
1 Distributable amount for 2015 from Part XI, line 7					704,068
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......				694,519
b Total for prior years:2013, 20, 20			0
3 Excess distributions carryover, if any, to 2015:
a From 2010......	0
b From 2011......	0
c From 2012......	0
d From 2013......	0
e From 2014......	0
fTotal of lines 3a through e........		0
4Qualifying distributions for 2015 from Part
XII, line 4: $ 702,181
a Applied to 2014, but not more than line 2a				694,519
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2015 distributable amount.....					7,662
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2015.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2014. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2016. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........					696,406
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8Excess distributions carryover from 2010 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2016. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2011....	0
b Excess from 2012....	0
c Excess from 2013....	0
d Excess from 2014....	0
e Excess from 2015....	0

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2015	(b) 2014	(c) 2013	(d) 2012	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

3 Grants and Contributions Paid During the Year or Approved for Future Payment
aPaid during the year
DANA FARBER CANCER INSTITUTE 44 BINNEY STREET BOSTON,MA02115	NONE	PC	CANCER RESEARCH	130,000
OREGON HEALTH & SCIENCE UNIV 3181 SW SAM JACKSON PARK RD PORTLAND,OR97239	NONE	PC	CANCER RESEARCH	130,000
FRIENDS OF ECOLE POLYTECHIQUE FEDERALE DE LAUSANNE 116 W MAIN STREET N0 302 SALISBURY,NC21801	NONE	PC	CANCER RESEARCH	130,000
THE UNIVERSITY OF TEXAS BD ANDERSON CANCER CENTER PO BOX 4486 HOUSTON,TX77210	NONE	PC	CANCER RESEARCH	130,000
MEMORIAL SLOAN-KETTERING CANCER CENTER 1275 YORK AVE NEW YORK,NY10065	NONE	PC	CANCER RESEARCH	130,000
Total ................................. 3a	650,000

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

(a) Name of organization	(b) Type of organization	(c) Description of relationship

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........			14	58
4 Dividends and interest from securities....			14	372,675
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	374,806
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				747,539

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Name of Bond	End of Year Book Value	End of Year Fair Market Value
055451AT5 BHP BILLITON FIN USA	25,270	24,591
05565QCG1 BP CAPITAL MARKETS	25,446	24,880
06406HBX6 BANK OF NEW YORK MEL	25,914	25,162
064149C47 BANK OF NOVA SCOTIA
084664BY6 BERKSHIRE HATHAWAY	25,328	25,439
136069FA4 CANADIAN IMPERIAL BA	24,930	24,954
14912L4X6 CATERPILLAR FINANCIA	25,784	25,131
24422ERC5 JOHN DEERE CAPITAL
268648AP7 EMC CORP	25,118	24,062
30249UAA9 FMC TECHNOLOGIES INC	25,240	24,107
354613AF8 FRANKLIN RESOURCES
38141GRC0 GOLDMAN SACHS GROUP	25,368	25,152
40428HPJ5 HSBC USA INC	25,771	25,143
406216BC4 HALLIBURTON COMPANY	25,351	24,707
428236BW2 HEWLETT-PACKARD CO
46625HJG6 JPMORGAN CHASE & CO	25,048	24,950
487836BH0 KELLOGG CO	25,345	25,039
494550BR6 KINDER MORGAN ENER	25,158	23,381
50540RAM4 LAB CORP OF AMER HLD	25,310	25,043
51855Q655 LAUDUS MONDRIAN INT
61166WAM3 MONSANTO CO	25,094	24,909
693390304 PIMCO LOW DURATION F	713,000	689,782
693390841 PIMCO HIGH YIELD FD-	258,853	307,978
693390866 PIMCO TOTAL RETURN I	646,602	632,438
741478101 T ROWE CORPORATE INC
74340XAV3 PROLOGIS LP	25,317	25,421
76628T678 RIDGEWORTH SEIX FLOA	100,000	89,789
78008S7D2 ROYAL BANK OF CANADA	50,762	50,552
822582BA9 SHELL INTERNATIONAL	25,300	24,846
85771PAR3 STATOIL ASA	50,250	49,538
89152UAE2 TOTAL CAPITAL SA	51,717	50,031
89233P5S1 TOYOTA MOTOR CREDIT	25,829	25,236
904764AQ0 UNILEVER CAPITAL COR	25,275	25,580
91159HGX2 US BANCORP
913017BU2 UNITED TECHNOLOGIES	25,582	25,203
921937827 VANGUARD SHORT TERM	574,051	573,369
94987W752 WF SHRT TRM HI YLD-I	200,000	194,614
00206RAY8 AT&T INC	25,882	25,149
02665WAC5 AMERICAN HONDA FINAN	50,491	50,514
045487AA3 ASSOC BANC-CORP	30,540	30,225
191216BB5 VR COCA-COLA CO/THE
25152RVQ3 VR DEUTSCHE BANK	25,142	24,855
278642AG8 EBAY INC	25,129	24,926
437076AP7 HOME DEPOT INC	54,670	50,000
444859BC5 HUMANA INC	25,082	25,306
458140AL4 INTEL CORP	25,039	25,154
539473AQ1 LLOYDS BANK PLC	54,352	51,431
58933YAE5 VR MERCK & CO INC	25,079	24,994
63743HEG3 VR NATIONAL RURAL	25,028	25,006
68389XAQ8 ORACLE CORP	50,977	51,379
792860AH1 ST PAUL TRAVELERS
828807CH8 SIMON PROPERTY GROUP	26,194	25,250
03076CAE6 AMERIPRISE FINANCIAL	16,898	16,702
031162BW9 AMGEN INC	24,741	24,828
151020AQ7 CELGENE CORP	25,377	25,293
172967JJ1 CITIGROUP INC	24,936	24,776
693390882 PIMCO FOREIGN BD FD	80,000	80,967
90331HML4 US BANK NA CINCINNAT	15,054	15,174
961214CS0 WESTPAC BANKING CORP	50,304	50,482

Name of Stock	End of Year Book Value	End of Year Fair Market Value
437076102 HOME DEPOT INC	48,683	238,931
778296103 ROSS STORES INC	84,551	329,880
191216100 COCA COLA CO	4,485	237,215
742718109 PROCTER & GAMBLE CO	18,360	521,885
166764100 CHEVRON CORP	86,766	347,110
30231G102 EXXON MOBIL CORPORAT	13,287	392,735
46625H100 JPMORGAN CHASE & CO	10,981	534,850
002824100 ABBOTT LABS	4,228	348,660
369604103 GENERAL ELECTRIC CO	324	349,680
88579Y101 3M CO	42,765	105,887
458140100 INTEL CORP	63,286	97,647
459200101 INTERNATIONAL BUSINE	134,666	353,781
594918104 MICROSOFT CORP	122,991	179,352
68389X105 ORACLE CORPORATION	106,042	136,086
693506107 PPG INDUSTRIES INC	30,882	125,489
00206R102 AT & T INC	48,125	147,800
92343V104 VERIZON COMMUNICATIO	128,777	295,756
65339F101 NEXTERA ENERGY INC	51,300	338,460
87612E106 TARGET CORP	107,598	156,900
00287Y109 ABBVIE INC	2,269	243,288
037833100 APPLE INC	240,034	318,110
14040H105 CAPITAL ONE FINANCIA
339128100 JP MORGAN MID CAP VA	434,125	491,712
780905451 ROYCE PREMIER FUND W	119,574	138,497
92934R769 CRM MID CAP VALUE FD
H0023R105 ACE LIMITED
12572Q105 CME GROUP INC	35,582	42,520
17275R102 CISCO SYSTEMS INC	118,448	148,964
375558103 GILEAD SCIENCES INC	138,586	188,460
478366107 JOHNSON CONTROLS INC	82,643	82,035
637071101 NATIONAL OILWELL INC
806857108 SCHLUMBERGER LTD	47,871	42,315
872540109 TJX COMPANIES INC	52,349	62,244
907818108 UNION PACIFIC CORP	85,944	87,535
91324P102 UNITEDHEALTH GROUP I	62,530	108,977
G29183103 EATON CORP PLC	35,778	29,773
008252108 AFFILIATED MANAGERS	77,775	52,009
02917T104 AMERICAN REALTY CAPI
03748R101 APARTMENT INVT & MGM	3,222	2,892
053484101 AVALONBAY CMNTYS INC	6,891	6,694
084670702 BERKSHIRE HATHAWAY I	82,588	87,211
09247X101 BLACKROCK INC	87,842	85,789
097023105 BOEING CO	119,029	103,408
101121101 BOSTON PROPERTIES IN	7,211	5,821
112463104 BROOKDALE SR LIVING
124830100 CBL & ASSOC PPTYS IN
133131102 CAMDEN PPTY TR SH BE
229663109 CUBESMART	2,500	2,960
231021106 CUMMINS INC.	44,672	29,759
23317H102 DDR CORP	1,569	1,305
264411505 DUKE REALTY CORPORAT	2,402	2,213
26884U109 EPR PROPERTIES	2,744	2,614
28140H203 EDUCATION REALTY TRU	1,311	1,467
294752100 EQUITY ONE INC	2,568	2,549
29476L107 EQUITY RESIDENTIAL P	7,796	7,598
297178105 ESSEX PPTY TR COM	7,115	6,488
30225T102 EXTRA SPACE STORAGE	2,916	3,040
313747206 FEDERAL RLTY INVT TR	2,504	2,517
32054K103 FIRST INDL RLTY TR I	2,701	2,582
36162J106 GEO GROUP INC/THE
370023103 GENERAL GROWTH PROPE	6,695	6,082
38259P706 GOOGLE INC-CL C
42217K106 HEALTH CARE REIT INC
44107P104 HOST HOTELS & RESORT	2,012	1,301
464287655 ISHARES RUSSELL 2000	119,408	105,812
49427F108 KILROY REALTY CORP C	1,907	1,357
517834107 LAS VEGAS SANDS CORP	87,608	65,178
69924R108 PARAMOUNT GROUP INC
70509V100 PEBBLEBROOK HOTEL TR	3,975	2,227
74340W103 PROLOGIS INC	6,291	5,231
74460D109 PUBLIC STORAGE INC C	4,950	6,237
78440X101 SL GREEN REALTY CORP	5,306	3,615
804395101 SAUL CTRS INC COM	1,627	1,322
828806109 SIMON PROPERTY GROUP	18,144	16,886
862121100 STORE CAPITAL CORP	1,174	1,232
86272T106 STRATEGIC HOTELS & R
866674104 SUN CMNTYS INC COM	2,358	2,296
867892101 SUNSTONE HOTEL INVS	2,805	2,064
876664103 TAUBMAN CTRS INC COM
91704F104 URBAN EDGE PROPERTIE
92276F100 VENTAS INC COM	1,816	1,559
929042109 VORNADO REALTY TRUST	2,141	1,641
92939N102 WP GLIMCHER INC
015271109 ALEXANDRIA REAL ESTA	2,653	2,296
02079K107 ALPHABET INC CL C	64,730	80,244
024835100 AMERICAN CAMPUS CMNT	652	657
03027X100 AMERICAN TOWER CORP	1,966	1,844
03076C106 AMERIPRISE FINL INC	64,260	46,173
12504L109 CBRE GROUP INC	666	610
150870103 CELANESE CORP	47,634	42,238
172967424 CITIGROUP INC.	80,670	58,275
20030N101 COMCAST CORP CLASS A	41,587	40,411
22822V101 CROWN CASTLE INTL CO	1,804	1,817
254687106 WALT DISNEY CO	61,370	54,924
29444U700 EQUINIX INC	6,212	6,377
43300A104 HILTON WORLDWIDE HOL	913	1,081
444097109 HUDSON PACIFIC PROPE	1,249	1,097
71943U104 PHYSICIANS REALTY TR	869	876
758849103 REGENCY CENTERS CORP	1,628	1,623
84860W102 SPIRIT RLTY CAP INC	1,672	1,732
875465106 TANGER FACTORY OUTLE	374	385
95040Q104 WELLTOWER INC	7,855	6,888
H1467J104 CHUBB LTD	107,728	207,954
N47279109 INTERXION HOLDING NV	629	656


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
DANA FARBER CANCER INSTITUTE 44 BINNEY STREET BOSTON,MA02115	NONE	PC	CANCER RESEARCH	130,000
OREGON HEALTH & SCIENCE UNIV 3181 SW SAM JACKSON PARK RD PORTLAND,OR97239	NONE	PC	CANCER RESEARCH	130,000
FRIENDS OF ECOLE POLYTECHIQUE FEDERALE DE LAUSANNE 116 W MAIN STREET N0 302 SALISBURY,NC21801	NONE	PC	CANCER RESEARCH	130,000
THE UNIVERSITY OF TEXAS BD ANDERSON CANCER CENTER PO BOX 4486 HOUSTON,TX77210	NONE	PC	CANCER RESEARCH	130,000
MEMORIAL SLOAN-KETTERING CANCER CENTER 1275 YORK AVE NEW YORK,NY10065	NONE	PC	CANCER RESEARCH	130,000
Total ................................. 3a				650,000

bApproved for future payment

Total ................................. 3b

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
04315J209 ARTIO TOTAL RETURN B
51855Q655 LAUDUS MONDRIAN INTL
693390304 PIMCO LOW DURATION F
693390841 PIMCO HIGH YIELD FD-
693390866 PIMCO TOTAL RETURN I
921937850 VANGUARD SHORT-TERM
H0023R105 ACE LIMITED
92934R769 CRM MID CAP VALUE
26203E836 DREYFUS/THE BOSTON C
38142Y401 GOLDMAN SACHS GROWTH
780905451 ROYCE PREMIER FUND
G1151C101 ACCENTURE PLC
741478101 T ROWE CORPORATE INC
921937827 VANGUARD SHORT TERM
981464DG2 WORLD FINANCIAL NETW	AT COST	50,814	50,850
981464DS6 WORLD FINANCIAL NETW	AT COST	50,080	50,103

Description	Amount
MUTUAL FUND TAX EFFECTIVE DATE AFTER TYE	3,419
ACCRUED INTEREST PAID EFFECTIVE DATE AFTER TYE	455
CAP GAIN POSTING NEXT YR EFF CURR YR	70,032
CAP LOSS POSTING CURR YR EFF PREV YR	22

Description	Amount
MUTUAL FUND TAX EFFECTIVE DATE BEFORE TYE	5,533
DEFERRED INCOME	188
CAP GAIN POSTING CURR YR EFF PREV YR	15
CAP LOSS POSTING NEXT YR EFF CURR YR	48,923
ROUNDING	3

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