| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| 81369Y852 COMM SERVICES SELECT | AT COST | 57,696 | 50,981 |
| 92189H300 VANECK VECTORS J.P | AT COST | 14,443 | 13,266 |
| 921937827 VANGUARD SHORT TERM | AT COST | 253,934 | 250,638 |
| 464288661 ISHARES 3-7 YEAR TRE | AT COST | 128,436 | 126,256 |
| 464288513 ISHARES IBOXX$ HIGH | AT COST | 41,229 | 39,334 |
| 46432F842 ISHARES CORE MSCI EA | AT COST | 1,060,792 | 877,745 |
| 81369Y506 ENERGY SELECT SECTOR | AT COST | 81,073 | 68,648 |
| 921937819 VANGUARD INTERMEDIAT | AT COST | 289,337 | 277,931 |
| 464287242 ISHARES IBOXX INVEST | AT COST | 196,043 | 189,425 |
| 81369Y886 UTILITIES SELECT SEC | AT COST | 56,722 | 60,752 |
| 81369Y605 FINANCIAL SELECT SEC | AT COST | 416,339 | 386,861 |
| 81369Y860 REAL ESTATE SELECT | AT COST | 132,760 | 128,712 |
| 92204A603 VANGUARD INDUSTRIAL | AT COST | 315,642 | 363,518 |
| 92204A207 VANGUARD CONSUMER | AT COST | 255,464 | 272,571 |
| 46434G103 ISHARES CORE MSCI EM | AT COST | 396,912 | 426,943 |
| 46138E784 INVESCO EMERGING MAR | AT COST | 87,674 | 80,317 |
| 464288588 ISHARES MBS ETF | AT COST | 299,550 | 292,287 |
| 78464A789 SPDR KBW INSURANCE | AT COST | 50,256 | 45,874 |
| 81369Y407 CONSUMER DISCRETIONA | AT COST | 200,479 | 225,842 |
| 33733E302 FIRST TR EXCHANGE TR | AT COST | 141,716 | 147,692 |
| 464287176 ISHARES TIPS BOND ET | AT COST | 83,824 | 80,928 |
| 464287556 ISHARES NASDAQ BIOTE | AT COST | 129,943 | 119,959 |
| 81369Y209 HEALTH CARE SELECT S | AT COST | 228,700 | 271,295 |
| 92204A702 VANGUARD INFORMATION | AT COST | 252,574 | 356,849 |
| 92204A801 VANGUARD MATERIALS E | AT COST | 181,415 | 149,621 |
| 46138E511 INVESCO PREFERRED ET | AT COST | 27,650 | 25,620 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| DIVIDENDS RECIEVABLE | 3,095 | 0 | 0 |
| Description | Amount |
|---|---|
| TYE INCOME ADJ | 73 |
| SECURITIES ADJ | 596 |
| BEGINNING BOOK VALUE ADJ MARKET TO TAX | 974,172 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| STATE FILING FEE | 400 | 0 | 400 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| OTHER INCOME | 90 | 90 |
| Description | Amount |
|---|---|
| ROUNDING | 3 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 49,155 | 29,493 | 19,662 | |
| OTHER PROFESSIONAL FEES | 135 | 54 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES | 3,274 | 3,274 | 0 | |
| EXCISE TAX - PRIOR YEAR | 1,400 | 0 | 0 | |
| EXCISE TAX ESTIMATES | 17,000 | 0 | 0 | |
| FOREIGN TAXES ON NONQUALIFIED | 859 | 859 | 0 |