TY 2018 Form 990PF

- TIN:

Form990-PF
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Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
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Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0052

2018

Open to Public Inspection

For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018

Name of foundation
BURR ANNA C TW

Number and street (or P.O. box number if mail is not delivered to street address)6325 S RAINBOW BLVD STE 300
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
LAS VEGAS, NV89118

A Employer identification number

23-6972920

B Telephone number (see instructions)

(888) 730-4933

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$18,517,705J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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 .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	454,331		453,533
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		460,337
b	Gross sales price for all assets on line 6a 1,957,303
7	Capital gain net income (from Part IV, line 2)...			460,337
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........	914,668		913,870
13	Compensation of officers, directors, trustees, etc.	52,790		47,511		5,279
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........		15,960	0	0	15,960
b	Accounting fees (attach schedule).......		995	0	0	995
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		14,680	10,880		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).......		690	690
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	85,115		59,081	0	22,234
25	Contributions, gifts, grants paid.......	1,200,000				1,200,000
26	Total expenses and disbursements. Add lines 24 and 25	1,285,115		59,081	0	1,222,234
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-370,447
b	Net investment income (if negative, enter -0-)			854,789
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2018)

Form 990-PF (2018)

Page 2

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.............	3,783
	2	Savings and temporary cash investments.........	1,044,710	799,620	799,620
	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)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	15,469,546	15,336,692	17,718,085
	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)	16,518,039	16,136,312	18,517,705
	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........	16,518,039	16,136,312
	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).....	16,518,039	16,136,312
	31	Total liabilities and net assets/fund balances (see instructions).	16,518,039	16,136,312

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............

16,518,039

Enter amount from Part I, line 27a .....................

-370,447

Other increases not included in line 2 (itemize) bullet

566

Add lines 1, 2, and 3 ..........................

16,148,158

Decreases not included in line 2 (itemize) bullet

11,846

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .

16,136,312

Form 990-PF (2018)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(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	25000. US TREASURY NOTE 1.000% 11/30/18		2016-12-06	2018-01-10
b	35000. AT&T INC 5.500% 2/01/18		2013-08-14	2018-02-01
c	136.32 FHLMC POOL G11981 5.000% 4/01/21		2006-05-19	2018-02-15
d	30.36 FHLMC POOL G08122 5.500% 4/01/36		2006-05-19	2018-02-15
e	28.6 FHLMC POOL J04827 5.500% 5/01/22		2007-06-20	2018-02-15
	15.74 FHLMC POOL C00859 6.500% 9/01/29		2000-09-29	2018-02-15
	113.86 FHLMC POOL B12205 5.500% 2/01/19		2004-05-12	2018-02-15
	4.66 FHLMC POOL A10322 5.000% 6/01/33		2003-05-28	2018-02-15
	10.94 FHLMC POOL A14186 5.500% 10/01/33		2004-03-10	2018-02-15
	7.06 FHLMC POOL C58858 6.000% 10/01/31		2001-10-01	2018-02-15
	734.12 FHLMC POOL #Q09258 3.000% 7/01/42		2013-01-04	2018-02-15
	984.13 FHLMC POOL #Q30470 4.000% 12/01/44		2016-04-13	2018-02-15
	50.51 GNMA POOL 468223 6.500% 9/15/28		2000-09-29	2018-02-15
	49.24 FNMA POOL 545064 6.500% 6/01/31		2004-01-13	2018-02-25
	53.23 FNMA POOL 558575 7.500% 11/01/30		2000-09-29	2018-02-25
	20.65 FNMA POOL 572672 6.000% 4/01/31		2001-09-04	2018-02-25
	10.27 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-02-25
	10.02 FNMA POOL #636697 6.000% 5/01/32		2002-08-01	2018-02-25
	47.34 FNMA POOL 720307 4.500% 6/01/18		2003-06-09	2018-02-25
	444.53 FNMA POOL 722126 5.000% 7/01/33		2003-06-16	2018-02-25
	59.88 FNMA POOL 727496 4.500% 5/01/18		2003-06-20	2018-02-25
	19.93 FNMA POOL 731742 5.000% 9/01/33		2003-08-11	2018-02-25
	50.08 FNMA POOL 755647 5.500% 12/01/18		2003-12-08	2018-02-25
	34.53 FNMA POOL 757866 5.500% 11/01/33		2003-12-05	2018-02-25
	14.04 FNMA POOL 794348 5.000% 9/01/34		2004-09-09	2018-02-25
	4.59 FNMA POOL 796970 6.000% 10/01/34		2005-01-27	2018-02-25
	31.19 FNMA POOL 825743 4.500% 7/01/35		2010-11-10	2018-02-25
	104.11 FNMA POOL 848355 5.000% 8/01/35		2005-12-21	2018-02-25
	5.23 FNMA POOL 881437 6.000% 7/01/36		2008-04-17	2018-02-25
	1.2 FNMA POOL 898329 5.500% 12/01/36		2007-02-13	2018-02-25
	9.75 FNMA POOL 900910 5.000% 2/01/37		2007-02-13	2018-02-25
	40.06 FNMA POOL AB1501 4.000% 9/01/40		2010-09-20	2018-02-25
	55000. US TREASURY NOTE 1.000% 11/30/18		2016-12-06	2018-03-09
	169.79 FHLMC POOL G11981 5.000% 4/01/21		2006-05-19	2018-03-15
	36.54 FHLMC POOL G08122 5.500% 4/01/36		2006-05-19	2018-03-15
	27.84 FHLMC POOL J04827 5.500% 5/01/22		2007-06-20	2018-03-15
	169.27 FHLMC POOL C00859 6.500% 9/01/29		2000-09-29	2018-03-15
	114.38 FHLMC POOL B12205 5.500% 2/01/19		2004-05-12	2018-03-15
	5.45 FHLMC POOL A10322 5.000% 6/01/33		2003-05-28	2018-03-15
	11.96 FHLMC POOL A14186 5.500% 10/01/33		2004-03-10	2018-03-15
	7.1 FHLMC POOL C58858 6.000% 10/01/31		2001-10-01	2018-03-15
	702.15 FHLMC POOL #Q09258 3.000% 7/01/42		2013-01-04	2018-03-15
	202.32 FHLMC POOL #Q30470 4.000% 12/01/44		2016-04-13	2018-03-15
	49.95 GNMA POOL 468223 6.500% 9/15/28		2000-09-29	2018-03-15
	20.41 FNMA POOL 545064 6.500% 6/01/31		2004-01-13	2018-03-25
	53.6 FNMA POOL 558575 7.500% 11/01/30		2000-09-29	2018-03-25
	18.89 FNMA POOL 572672 6.000% 4/01/31		2001-09-04	2018-03-25
	10.33 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-03-25
	10.4 FNMA POOL #636697 6.000% 5/01/32		2002-08-01	2018-03-25
	42.35 FNMA POOL 720307 4.500% 6/01/18		2003-06-09	2018-03-25
	12.01 FNMA POOL 722126 5.000% 7/01/33		2003-06-16	2018-03-25
	31.71 FNMA POOL 727496 4.500% 5/01/18		2003-06-20	2018-03-25
	20.02 FNMA POOL 731742 5.000% 9/01/33		2003-08-11	2018-03-25
	50.32 FNMA POOL 755647 5.500% 12/01/18		2003-12-08	2018-03-25
	301.3 FNMA POOL 757866 5.500% 11/01/33		2003-12-05	2018-03-25
	14.11 FNMA POOL 794348 5.000% 9/01/34		2004-09-09	2018-03-25
	4.61 FNMA POOL 796970 6.000% 10/01/34		2005-01-27	2018-03-25
	4523.03 FNMA POOL 825743 4.500% 7/01/35		2010-11-10	2018-03-25
	12.63 FNMA POOL 848355 5.000% 8/01/35		2005-12-21	2018-03-25
	5.24 FNMA POOL 881437 6.000% 7/01/36		2008-04-17	2018-03-25
	1.21 FNMA POOL 898329 5.500% 12/01/36		2007-02-13	2018-03-25
	9.8 FNMA POOL 900910 5.000% 2/01/37		2007-02-13	2018-03-25
	132.84 FNMA POOL AB1501 4.000% 9/01/40		2010-09-20	2018-03-25
	15032. VOYA INTL RL EST FD CL-I #2664		2008-12-23	2018-03-27
	15032.202 VOYA INTL RL EST FD CL-I #2664		2008-12-23	2018-04-03
	92.36 FHLMC POOL G11981 5.000% 4/01/21		2006-05-19	2018-04-15
	31.96 FHLMC POOL G08122 5.500% 4/01/36		2006-05-19	2018-04-15
	28.23 FHLMC POOL J04827 5.500% 5/01/22		2007-06-20	2018-04-15
	15.22 FHLMC POOL C00859 6.500% 9/01/29		2000-09-29	2018-04-15
	114.9 FHLMC POOL B12205 5.500% 2/01/19		2004-05-12	2018-04-15
	4.74 FHLMC POOL A10322 5.000% 6/01/33		2003-05-28	2018-04-15
	172.07 FHLMC POOL A14186 5.500% 10/01/33		2004-03-10	2018-04-15
	7.14 FHLMC POOL C58858 6.000% 10/01/31		2001-10-01	2018-04-15
	1225.32 FHLMC POOL #Q09258 3.000% 7/01/42		2013-01-04	2018-04-15
	185.21 FHLMC POOL #Q30470 4.000% 12/01/44		2016-04-13	2018-04-15
	49.41 GNMA POOL 468223 6.500% 9/15/28		2000-09-29	2018-04-15
	35000. ANHEUSER-BUSCH INBEV 5.375% 1/15/20		2010-10-18	2018-04-23
	136.58 FNMA POOL 545064 6.500% 6/01/31		2004-01-13	2018-04-25
	53.96 FNMA POOL 558575 7.500% 11/01/30		2000-09-29	2018-04-25
	208.39 FNMA POOL 572672 6.000% 4/01/31		2001-09-04	2018-04-25
	10.39 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-04-25
	56.66 FNMA POOL #636697 6.000% 5/01/32		2002-08-01	2018-04-25
	44.89 FNMA POOL 720307 4.500% 6/01/18		2003-06-09	2018-04-25
	12.03 FNMA POOL 722126 5.000% 7/01/33		2003-06-16	2018-04-25
	11.4 FNMA POOL 727496 4.500% 5/01/18		2003-06-20	2018-04-25
	20.15 FNMA POOL 731742 5.000% 9/01/33		2003-08-11	2018-04-25
	50.02 FNMA POOL 755647 5.500% 12/01/18		2003-12-08	2018-04-25
	32.43 FNMA POOL 757866 5.500% 11/01/33		2003-12-05	2018-04-25
	14.18 FNMA POOL 794348 5.000% 9/01/34		2004-09-09	2018-04-25
	4.64 FNMA POOL 796970 6.000% 10/01/34		2005-01-27	2018-04-25
	16.37 FNMA POOL 825743 4.500% 7/01/35		2010-11-10	2018-04-25
	12.41 FNMA POOL 848355 5.000% 8/01/35		2005-12-21	2018-04-25
	5.27 FNMA POOL 881437 6.000% 7/01/36		2008-04-17	2018-04-25
	1.21 FNMA POOL 898329 5.500% 12/01/36		2007-02-13	2018-04-25
	9.91 FNMA POOL 900910 5.000% 2/01/37		2007-02-13	2018-04-25
	164.96 FNMA POOL AB1501 4.000% 9/01/40		2010-09-20	2018-04-25
	40000. BB&T CORPORATION 2.050% 6/19/18		2013-07-24	2018-05-15
	105.52 FHLMC POOL G11981 5.000% 4/01/21		2006-05-19	2018-05-15
	24.21 FHLMC POOL G08122 5.500% 4/01/36		2006-05-19	2018-05-15
	28.46 FHLMC POOL J04827 5.500% 5/01/22		2007-06-20	2018-05-15
	15.32 FHLMC POOL C00859 6.500% 9/01/29		2000-09-29	2018-05-15
	114.87 FHLMC POOL B12205 5.500% 2/01/19		2004-05-12	2018-05-15
	5.66 FHLMC POOL A10322 5.000% 6/01/33		2003-05-28	2018-05-15
	13.32 FHLMC POOL A14186 5.500% 10/01/33		2004-03-10	2018-05-15
	7.22 FHLMC POOL C58858 6.000% 10/01/31		2001-10-01	2018-05-15
	160.07 FHLMC POOL #Q09258 3.000% 7/01/42		2013-01-04	2018-05-15
	452.6 FHLMC POOL #Q30470 4.000% 12/01/44		2016-04-13	2018-05-15
	50.54 GNMA POOL 468223 6.500% 9/15/28		2000-09-29	2018-05-15
	12.35 FNMA POOL 545064 6.500% 6/01/31		2004-01-13	2018-05-25
	54.33 FNMA POOL 558575 7.500% 11/01/30		2000-09-29	2018-05-25
	13.68 FNMA POOL 572672 6.000% 4/01/31		2001-09-04	2018-05-25
	10.45 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-05-25
	40.8 FNMA POOL #636697 6.000% 5/01/32		2002-08-01	2018-05-25
	30.01 FNMA POOL 720307 4.500% 6/01/18		2003-06-09	2018-05-25
	12.02 FNMA POOL 722126 5.000% 7/01/33		2003-06-16	2018-05-25
	308.39 FNMA POOL 731742 5.000% 9/01/33		2003-08-11	2018-05-25
	42.98 FNMA POOL 755647 5.500% 12/01/18		2003-12-08	2018-05-25
	67.34 FNMA POOL 757866 5.500% 11/01/33		2003-12-05	2018-05-25
	14.24 FNMA POOL 794348 5.000% 9/01/34		2004-09-09	2018-05-25
	4.66 FNMA POOL 796970 6.000% 10/01/34		2005-01-27	2018-05-25
	16.44 FNMA POOL 825743 4.500% 7/01/35		2010-11-10	2018-05-25
	13.16 FNMA POOL 848355 5.000% 8/01/35		2005-12-21	2018-05-25
	5.31 FNMA POOL 881437 6.000% 7/01/36		2008-04-17	2018-05-25
	1.22 FNMA POOL 898329 5.500% 12/01/36		2007-02-13	2018-05-25
	59.67 FNMA POOL 900910 5.000% 2/01/37		2007-02-13	2018-05-25
	244.8 FNMA POOL AB1501 4.000% 9/01/40		2010-09-20	2018-05-25
	80.31 FHLMC POOL G11981 5.000% 4/01/21		2006-05-19	2018-06-15
	36.69 FHLMC POOL G08122 5.500% 4/01/36		2006-05-19	2018-06-15
	28.51 FHLMC POOL J04827 5.500% 5/01/22		2007-06-20	2018-06-15
	92.7 FHLMC POOL C00859 6.500% 9/01/29		2000-09-29	2018-06-15
	116.41 FHLMC POOL B12205 5.500% 2/01/19		2004-05-12	2018-06-15
	5.18 FHLMC POOL A10322 5.000% 6/01/33		2003-05-28	2018-06-15
	13.29 FHLMC POOL A14186 5.500% 10/01/33		2004-03-10	2018-06-15
	7.28 FHLMC POOL C58858 6.000% 10/01/31		2001-10-01	2018-06-15
	985.41 FHLMC POOL #Q09258 3.000% 7/01/42		2013-01-04	2018-06-15
	41.28 FHLMC POOL #Q30470 4.000% 12/01/44		2016-04-13	2018-06-15
	50.83 GNMA POOL 468223 6.500% 9/15/28		2000-09-29	2018-06-15
	25000. VERIZON COMMUNICATIO 5.150% 9/15/23		2015-09-17	2018-06-15
	36.49 FNMA POOL 545064 6.500% 6/01/31		2004-01-13	2018-06-25
	54.71 FNMA POOL 558575 7.500% 11/01/30		2000-09-29	2018-06-25
	14.91 FNMA POOL 572672 6.000% 4/01/31		2001-09-04	2018-06-25
	10.5 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-06-25
	9.95 FNMA POOL #636697 6.000% 5/01/32		2002-08-01	2018-06-25
	.98 FNMA POOL 720307 4.500% 6/01/18		2003-06-09	2018-06-25
	12.91 FNMA POOL 722126 5.000% 7/01/33		2003-06-16	2018-06-25
	312.41 FNMA POOL 731742 5.000% 9/01/33		2003-08-11	2018-06-25
	43.2 FNMA POOL 755647 5.500% 12/01/18		2003-12-08	2018-06-25
	26.31 FNMA POOL 757866 5.500% 11/01/33		2003-12-05	2018-06-25
	14.31 FNMA POOL 794348 5.000% 9/01/34		2004-09-09	2018-06-25
	4.68 FNMA POOL 796970 6.000% 10/01/34		2005-01-27	2018-06-25
	16.51 FNMA POOL 825743 4.500% 7/01/35		2010-11-10	2018-06-25
	12.7 FNMA POOL 848355 5.000% 8/01/35		2005-12-21	2018-06-25
	274.24 FNMA POOL 881437 6.000% 7/01/36		2008-04-17	2018-06-25
	1.22 FNMA POOL 898329 5.500% 12/01/36		2007-02-13	2018-06-25
	10.25 FNMA POOL 900910 5.000% 2/01/37		2007-02-13	2018-06-25
	155.16 FNMA POOL AB1501 4.000% 9/01/40		2010-09-20	2018-06-25
	25000. TIME WARNER CABLE IN 6.750% 7/01/18		2010-10-18	2018-07-01
	118.47 FHLMC POOL G11981 5.000% 4/01/21		2006-05-19	2018-07-15
	24.95 FHLMC POOL G08122 5.500% 4/01/36		2006-05-19	2018-07-15
	29.05 FHLMC POOL J04827 5.500% 5/01/22		2007-06-20	2018-07-15
	15.16 FHLMC POOL C00859 6.500% 9/01/29		2000-09-29	2018-07-15
	115.63 FHLMC POOL B12205 5.500% 2/01/19		2004-05-12	2018-07-15
	4.69 FHLMC POOL A10322 5.000% 6/01/33		2003-05-28	2018-07-15
	143.28 FHLMC POOL A14186 5.500% 10/01/33		2004-03-10	2018-07-15
	7.3 FHLMC POOL C58858 6.000% 10/01/31		2001-10-01	2018-07-15
	181.39 FHLMC POOL #Q09258 3.000% 7/01/42		2013-01-04	2018-07-15
	719.2 FHLMC POOL #Q30470 4.000% 12/01/44		2016-04-13	2018-07-15
	50.92 GNMA POOL 468223 6.500% 9/15/28		2000-09-29	2018-07-15
	18.35 FNMA POOL 545064 6.500% 6/01/31		2004-01-13	2018-07-25
	55.09 FNMA POOL 558575 7.500% 11/01/30		2000-09-29	2018-07-25
	14.13 FNMA POOL 572672 6.000% 4/01/31		2001-09-04	2018-07-25
	10.56 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-07-25
	10.74 FNMA POOL #636697 6.000% 5/01/32		2002-08-01	2018-07-25
	12.37 FNMA POOL 722126 5.000% 7/01/33		2003-06-16	2018-07-25
	17.92 FNMA POOL 731742 5.000% 9/01/33		2003-08-11	2018-07-25
	43.41 FNMA POOL 755647 5.500% 12/01/18		2003-12-08	2018-07-25
	268.2 FNMA POOL 757866 5.500% 11/01/33		2003-12-05	2018-07-25
	14.38 FNMA POOL 794348 5.000% 9/01/34		2004-09-09	2018-07-25
	4.71 FNMA POOL 796970 6.000% 10/01/34		2005-01-27	2018-07-25
	16.58 FNMA POOL 825743 4.500% 7/01/35		2010-11-10	2018-07-25
	12.55 FNMA POOL 848355 5.000% 8/01/35		2005-12-21	2018-07-25
	6.15 FNMA POOL 881437 6.000% 7/01/36		2008-04-17	2018-07-25
	1.23 FNMA POOL 898329 5.500% 12/01/36		2007-02-13	2018-07-25
	116.78 FNMA POOL 900910 5.000% 2/01/37		2007-02-13	2018-07-25
	208.07 FNMA POOL AB1501 4.000% 9/01/40		2010-09-20	2018-07-25
	102.76 FHLMC POOL G11981 5.000% 4/01/21		2006-05-19	2018-08-15
	19.87 FHLMC POOL G08122 5.500% 4/01/36		2006-05-19	2018-08-15
	30.24 FHLMC POOL J04827 5.500% 5/01/22		2007-06-20	2018-08-15
	16.15 FHLMC POOL C00859 6.500% 9/01/29		2000-09-29	2018-08-15
	117.27 FHLMC POOL B12205 5.500% 2/01/19		2004-05-12	2018-08-15
	4.76 FHLMC POOL A10322 5.000% 6/01/33		2003-05-28	2018-08-15
	120.51 FHLMC POOL A14186 5.500% 10/01/33		2004-03-10	2018-08-15
	7.3 FHLMC POOL C58858 6.000% 10/01/31		2001-10-01	2018-08-15
	157.79 FHLMC POOL #Q09258 3.000% 7/01/42		2013-01-04	2018-08-15
	38.23 FHLMC POOL #Q30470 4.000% 12/01/44		2016-04-13	2018-08-15
	50.59 GNMA POOL 468223 6.500% 9/15/28		2000-09-29	2018-08-15
	30000. US TREASURY NOTE 1.000% 11/30/18		2017-03-27	2018-08-22
	31.76 FNMA POOL 545064 6.500% 6/01/31		2004-01-13	2018-08-25
	55.47 FNMA POOL 558575 7.500% 11/01/30		2000-09-29	2018-08-25
	13.22 FNMA POOL 572672 6.000% 4/01/31		2001-09-04	2018-08-25
	10.62 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-08-25
	10.64 FNMA POOL #636697 6.000% 5/01/32		2002-08-01	2018-08-25
	11.69 FNMA POOL 722126 5.000% 7/01/33		2003-06-16	2018-08-25
	423.43 FNMA POOL 731742 5.000% 9/01/33		2003-08-11	2018-08-25
	42.25 FNMA POOL 755647 5.500% 12/01/18		2003-12-08	2018-08-25
	25.19 FNMA POOL 757866 5.500% 11/01/33		2003-12-05	2018-08-25
	14.45 FNMA POOL 794348 5.000% 9/01/34		2004-09-09	2018-08-25
	4.73 FNMA POOL 796970 6.000% 10/01/34		2005-01-27	2018-08-25
	16.65 FNMA POOL 825743 4.500% 7/01/35		2010-11-10	2018-08-25
	12.8 FNMA POOL 848355 5.000% 8/01/35		2005-12-21	2018-08-25
	4.77 FNMA POOL 881437 6.000% 7/01/36		2008-04-17	2018-08-25
	1.24 FNMA POOL 898329 5.500% 12/01/36		2007-02-13	2018-08-25
	45.56 FNMA POOL 900910 5.000% 2/01/37		2007-02-13	2018-08-25
	94.76 FNMA POOL AB1501 4.000% 9/01/40		2010-09-20	2018-08-25
	29171.294 DRIEHAUS ACTIVE INCOME FUND		2013-08-20	2018-09-12
	125.66 FHLMC POOL G11981 5.000% 4/01/21		2006-05-19	2018-09-15
	72.95 FHLMC POOL G08122 5.500% 4/01/36		2006-05-19	2018-09-15
	28.49 FHLMC POOL J04827 5.500% 5/01/22		2007-06-20	2018-09-15
	15.7 FHLMC POOL C00859 6.500% 9/01/29		2000-09-29	2018-09-15
	116.49 FHLMC POOL B12205 5.500% 2/01/19		2004-05-12	2018-09-15
	5. FHLMC POOL A10322 5.000% 6/01/33		2003-05-28	2018-09-15
	97.26 FHLMC POOL A14186 5.500% 10/01/33		2004-03-10	2018-09-15
	3.22 FHLMC POOL C58858 6.000% 10/01/31		2001-10-01	2018-09-15
	623.44 FHLMC POOL #Q09258 3.000% 7/01/42		2013-01-04	2018-09-15
	342.52 FHLMC POOL #Q30470 4.000% 12/01/44		2016-04-13	2018-09-15
	1186.39 GNMA POOL 468223 6.500% 9/15/28		2000-09-29	2018-09-15
	39.06 FNMA POOL 545064 6.500% 6/01/31		2004-01-13	2018-09-25
	55.84 FNMA POOL 558575 7.500% 11/01/30		2000-09-29	2018-09-25
	13.37 FNMA POOL 572672 6.000% 4/01/31		2001-09-04	2018-09-25
	10.68 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-09-25
	10.56 FNMA POOL #636697 6.000% 5/01/32		2002-08-01	2018-09-25
	12.12 FNMA POOL 722126 5.000% 7/01/33		2003-06-16	2018-09-25
	16.62 FNMA POOL 731742 5.000% 9/01/33		2003-08-11	2018-09-25
	77.21 FNMA POOL 755647 5.500% 12/01/18		2003-12-08	2018-09-25
	25.95 FNMA POOL 757866 5.500% 11/01/33		2003-12-05	2018-09-25
	14.52 FNMA POOL 794348 5.000% 9/01/34		2004-09-09	2018-09-25
	4.76 FNMA POOL 796970 6.000% 10/01/34		2005-01-27	2018-09-25
	16.72 FNMA POOL 825743 4.500% 7/01/35		2010-11-10	2018-09-25
	13.78 FNMA POOL 848355 5.000% 8/01/35		2005-12-21	2018-09-25
	5.48 FNMA POOL 881437 6.000% 7/01/36		2008-04-17	2018-09-25
	1.24 FNMA POOL 898329 5.500% 12/01/36		2007-02-13	2018-09-25
	9.12 FNMA POOL 900910 5.000% 2/01/37		2007-02-13	2018-09-25
	126.98 FNMA POOL AB1501 4.000% 9/01/40		2010-09-20	2018-09-25
	40000. US TREASURY NOTE 3.125% 5/15/19		2010-01-05	2018-09-27
	84.43 FHLMC POOL G11981 5.000% 4/01/21		2006-05-19	2018-10-15
	61.75 FHLMC POOL G08122 5.500% 4/01/36		2006-05-19	2018-10-15
	29.46 FHLMC POOL J04827 5.500% 5/01/22		2007-06-20	2018-10-15
	15.71 FHLMC POOL C00859 6.500% 9/01/29		2000-09-29	2018-10-15
	114.2 FHLMC POOL B12205 5.500% 2/01/19		2004-05-12	2018-10-15
	5.61 FHLMC POOL A10322 5.000% 6/01/33		2003-05-28	2018-10-15
	12. FHLMC POOL A14186 5.500% 10/01/33		2004-03-10	2018-10-15
	3.24 FHLMC POOL C58858 6.000% 10/01/31		2001-10-01	2018-10-15
	160.35 FHLMC POOL #Q09258 3.000% 7/01/42		2013-01-04	2018-10-15
	584.35 FHLMC POOL #Q30470 4.000% 12/01/44		2016-04-13	2018-10-15
	44.53 GNMA POOL 468223 6.500% 9/15/28		2000-09-29	2018-10-15
	12.25 FNMA POOL 545064 6.500% 6/01/31		2004-01-13	2018-10-25
	56.23 FNMA POOL 558575 7.500% 11/01/30		2000-09-29	2018-10-25
	14.43 FNMA POOL 572672 6.000% 4/01/31		2001-09-04	2018-10-25
	10.74 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-10-25
	9.76 FNMA POOL #636697 6.000% 5/01/32		2002-08-01	2018-10-25
	11.88 FNMA POOL 722126 5.000% 7/01/33		2003-06-16	2018-10-25
	16.66 FNMA POOL 731742 5.000% 9/01/33		2003-08-11	2018-10-25
	18.66 FNMA POOL 755647 5.500% 12/01/18		2003-12-08	2018-10-25
	25.24 FNMA POOL 757866 5.500% 11/01/33		2003-12-05	2018-10-25
	14.59 FNMA POOL 794348 5.000% 9/01/34		2004-09-09	2018-10-25
	4.78 FNMA POOL 796970 6.000% 10/01/34		2005-01-27	2018-10-25
	16.8 FNMA POOL 825743 4.500% 7/01/35		2010-11-10	2018-10-25
	129.24 FNMA POOL 848355 5.000% 8/01/35		2005-12-21	2018-10-25
	5.51 FNMA POOL 881437 6.000% 7/01/36		2008-04-17	2018-10-25
	1.25 FNMA POOL 898329 5.500% 12/01/36		2007-02-13	2018-10-25
	189.51 FNMA POOL 900910 5.000% 2/01/37		2007-02-13	2018-10-25
	103.43 FNMA POOL AB1501 4.000% 9/01/40		2010-09-20	2018-10-25
	11919.513 HARBOR INTERNATION FD INST #2011		2008-12-10	2018-10-26
	70.93 FHLMC POOL G11981 5.000% 4/01/21		2006-05-19	2018-11-15
	101.92 FHLMC POOL G08122 5.500% 4/01/36		2006-05-19	2018-11-15
	238.71 FHLMC POOL J04827 5.500% 5/01/22		2007-06-20	2018-11-15
	15.78 FHLMC POOL C00859 6.500% 9/01/29		2000-09-29	2018-11-15
	34.15 FHLMC POOL B12205 5.500% 2/01/19		2004-05-12	2018-11-15
	4.78 FHLMC POOL A10322 5.000% 6/01/33		2003-05-28	2018-11-15
	12.89 FHLMC POOL A14186 5.500% 10/01/33		2004-03-10	2018-11-15
	3.26 FHLMC POOL C58858 6.000% 10/01/31		2001-10-01	2018-11-15
	160.62 FHLMC POOL #Q09258 3.000% 7/01/42		2013-01-04	2018-11-15
	35.55 FHLMC POOL #Q30470 4.000% 12/01/44		2016-04-13	2018-11-15
	45.4 GNMA POOL 468223 6.500% 9/15/28		2000-09-29	2018-11-15
	35000. US TREASURY NOTE 1.000% 11/15/19		2016-12-06	2018-11-21
	35.82 FNMA POOL 545064 6.500% 6/01/31		2004-01-13	2018-11-25
	56.62 FNMA POOL 558575 7.500% 11/01/30		2000-09-29	2018-11-25
	14.74 FNMA POOL 572672 6.000% 4/01/31		2001-09-04	2018-11-25
	10.8 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-11-25
	91.15 FNMA POOL #636697 6.000% 5/01/32		2002-08-01	2018-11-25
	12.07 FNMA POOL 722126 5.000% 7/01/33		2003-06-16	2018-11-25
	16.73 FNMA POOL 731742 5.000% 9/01/33		2003-08-11	2018-11-25
	9.16 FNMA POOL 755647 5.500% 12/01/18		2003-12-08	2018-11-25
	25.85 FNMA POOL 757866 5.500% 11/01/33		2003-12-05	2018-11-25
	14.65 FNMA POOL 794348 5.000% 9/01/34		2004-09-09	2018-11-25
	4.81 FNMA POOL 796970 6.000% 10/01/34		2005-01-27	2018-11-25
	2825.43 FNMA POOL 825743 4.500% 7/01/35		2010-11-10	2018-11-25
	13.57 FNMA POOL 848355 5.000% 8/01/35		2005-12-21	2018-11-25
	5.53 FNMA POOL 881437 6.000% 7/01/36		2008-04-17	2018-11-25
	1.26 FNMA POOL 898329 5.500% 12/01/36		2007-02-13	2018-11-25
	146.31 FNMA POOL 900910 5.000% 2/01/37		2007-02-13	2018-11-25
	56.01 FNMA POOL AB1501 4.000% 9/01/40		2010-09-20	2018-11-25
	17000. ANHEUSER-BUSCH INBEV 2.650% 2/01/21		2018-04-24	2018-11-27
	109.67 FHLMC POOL G11981 5.000% 4/01/21		2006-05-19	2018-12-15
	28.09 FHLMC POOL G08122 5.500% 4/01/36		2006-05-19	2018-12-15
	35.54 FHLMC POOL J04827 5.500% 5/01/22		2007-06-20	2018-12-15
	16.22 FHLMC POOL C00859 6.500% 9/01/29		2000-09-29	2018-12-15
	34.91 FHLMC POOL B12205 5.500% 2/01/19		2004-05-12	2018-12-15
	5.28 FHLMC POOL A10322 5.000% 6/01/33		2003-05-28	2018-12-15
	10.03 FHLMC POOL A14186 5.500% 10/01/33		2004-03-10	2018-12-15
	3.28 FHLMC POOL C58858 6.000% 10/01/31		2001-10-01	2018-12-15
	722.31 FHLMC POOL #Q09258 3.000% 7/01/42		2013-01-04	2018-12-15
	38.09 FHLMC POOL #Q30470 4.000% 12/01/44		2016-04-13	2018-12-15
	45.68 GNMA POOL 468223 6.500% 9/15/28		2000-09-29	2018-12-15
	35.67 FNMA POOL 545064 6.500% 6/01/31		2004-01-13	2018-12-25
	57. FNMA POOL 558575 7.500% 11/01/30		2000-09-29	2018-12-25
	13.78 FNMA POOL 572672 6.000% 4/01/31		2001-09-04	2018-12-25
	10.86 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-12-25
	10.18 FNMA POOL #636697 6.000% 5/01/32		2002-08-01	2018-12-25
	12.04 FNMA POOL 722126 5.000% 7/01/33		2003-06-16	2018-12-25
	16.86 FNMA POOL 731742 5.000% 9/01/33		2003-08-11	2018-12-25
	25.69 FNMA POOL 757866 5.500% 11/01/33		2003-12-05	2018-12-25
	14.72 FNMA POOL 794348 5.000% 9/01/34		2004-09-09	2018-12-25
	4.83 FNMA POOL 796970 6.000% 10/01/34		2005-01-27	2018-12-25
	8.02 FNMA POOL 825743 4.500% 7/01/35		2010-11-10	2018-12-25
	12.3 FNMA POOL 848355 5.000% 8/01/35		2005-12-21	2018-12-25
	5.55 FNMA POOL 881437 6.000% 7/01/36		2008-04-17	2018-12-25
	1.26 FNMA POOL 898329 5.500% 12/01/36		2007-02-13	2018-12-25
	8.37 FNMA POOL 900910 5.000% 2/01/37		2007-02-13	2018-12-25
	114.84 FNMA POOL AB1501 4.000% 9/01/40		2010-09-20	2018-12-25
	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	24,830	24,944	-114
b	35,000	40,049	-5,049
c	136	136
d	30	30
e	29	28	1
	16	16
	114	116	-2
	5	5
	11	11
	7	7
	734	763	-29
	984	1,052	-68
	51	50	1
	49	52	-3
	53	53
	21	20	1
	10	10
	10	10
	47	49	-2
	445	455	-10
	60	61	-1
	20	20
	50	52	-2
	35	35
	14	14
	5	5
	31	33	-2
	104	104
	5	5
	1	1
	10	10
	40	41	-1
	54,609	54,848	-239
	170	169	1
	37	36	1
	28	28
	169	167	2
	114	116	-2
	5	6	-1
	12	12
	7	7
	702	730	-28
	202	216	-14
	50	49	1
	20	21	-1
	54	53	1
	19	18	1
	10	10
	10	11	-1
	42	44	-2
	12	12
	32	32
	20	20
	50	52	-2
	301	306	-5
	14	14
	5	5
	4,523	4,766	-243
	13	13
	5	5
	1	1
	10	10
	133	136	-3
	126,720	110,644	16,076
	128,225	96,528	31,697
	92	92
	32	32
	28	28
	15	15
	115	117	-2
	5	5
	172	177	-5
	7	7
	1,225	1,274	-49
	185	198	-13
	49	49
	36,531	40,025	-3,494
	137	143	-6
	54	54
	208	204	4
	10	10
	57	57
	45	46	-1
	12	12
	11	12	-1
	20	20
	50	52	-2
	32	33	-1
	14	14
	5	5
	16	17	-1
	12	12
	5	5
	1	1
	10	10
	165	169	-4
	40,000	39,969	31
	106	105	1
	24	24
	28	28
	15	15
	115	117	-2
	6	6
	13	14	-1
	7	7
	160	166	-6
	453	484	-31
	51	50	1
	12	13	-1
	54	54
	14	13	1
	10	10
	41	41
	30	31	-1
	12	12
	308	305	3
	43	44	-1
	67	68	-1
	14	14
	5	5
	16	17	-1
	13	13
	5	5
	1	1
	60	59	1
	245	251	-6
	80	80
	37	37
	29	28	1
	93	92	1
	116	119	-3
	5	5
	13	14	-1
	7	7
	985	1,024	-39
	41	44	-3
	51	50	1
	26,982	27,515	-533
	36	38	-2
	55	55
	15	15
	11	10	1
	10	10
	1	1
	13	13
	312	309	3
	43	45	-2
	26	27	-1
	14	14
	5	5
	17	17
	13	13
	274	279	-5
	1	1
	10	10
	155	159	-4
	25,000	30,080	-5,080
	118	118
	25	25
	29	29
	15	15
	116	118	-2
	5	5
	143	148	-5
	7	7
	181	189	-8
	719	769	-50
	51	50	1
	18	19	-1
	55	55
	14	14
	11	10	1
	11	11
	12	13	-1
	18	18
	43	45	-2
	268	272	-4
	14	14
	5	5
	17	17
	13	12	1
	6	6
	1	1
	117	116	1
	208	213	-5
	103	103
	20	20
	30	30
	16	16
	117	119	-2
	5	5
	121	124	-3
	7	7
	158	164	-6
	38	41	-3
	51	50	1
	29,911	29,896	15
	32	33	-1
	55	55
	13	13
	11	10	1
	11	11
	12	12
	423	418	5
	42	44	-2
	25	26	-1
	14	14
	5	5
	17	18	-1
	13	13
	5	5
	1	1
	46	45	1
	95	97	-2
	284,128	313,300	-29,172
	126	125	1
	73	73
	28	28
	16	16
	116	119	-3
	5	5
	97	100	-3
	3	3
	623	648	-25
	343	366	-23
	1,186	1,166	20
	39	41	-2
	56	56
	13	13
	11	11
	11	11
	12	12
	17	16	1
	77	80	-3
	26	26
	15	14	1
	5	5
	17	18	-1
	14	14
	5	6	-1
	1	1
	9	9
	127	130	-3
	40,159	38,063	2,096
	84	84
	62	61	1
	29	29
	16	16
	114	116	-2
	6	6
	12	12
	3	3
	160	167	-7
	584	625	-41
	45	44	1
	12	13	-1
	56	56
	14	14
	11	11
	10	10
	12	12
	17	16	1
	19	19
	25	26	-1
	15	14	1
	5	5
	17	18	-1
	129	129
	6	6
	1	1
	190	189	1
	103	106	-3
	685,491	566,289	119,202
	71	71
	102	101	1
	239	237	2
	16	16
	34	35	-1
	5	5
	13	13
	3	3
	161	167	-6
	36	38	-2
	45	45
	34,420	34,605	-185
	36	38	-2
	57	57
	15	14	1
	11	11
	91	92	-1
	12	12
	17	17
	9	9
	26	26
	15	15
	5	5
	2,825	2,977	-152
	14	14
	6	6
	1	1
	146	146
	56	57	-1
	16,782	16,747	35
	110	109	1
	28	28
	36	35	1
	16	16
	35	36	-1
	5	5
	10	10
	3	3
	722	751	-29
	38	41	-3
	46	45	1
	36	37	-1
	57	57
	14	13	1
	11	11
	10	10
	12	12
	17	17
	26	26
	15	15
	5	5
	8	8
	12	12
	6	6
	1	1
	8	8
	115	118	-3
			337,410

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			-114
b			-5,049
c
d
e			1

			-2



			-29
			-68
			1
			-3

			1


			-2
			-10
			-1

			-2



			-2




			-1
			-239
			1
			1

			2
			-2
			-1


			-28
			-14
			1
			-1
			1
			1

			-1
			-2



			-2
			-5


			-243




			-3
			16,076
			31,697




			-2

			-5

			-49
			-13

			-3,494
			-6

			4


			-1

			-1

			-2
			-1


			-1




			-4
			31
			1



			-2

			-1

			-6
			-31
			1
			-1

			1


			-1

			3
			-1
			-1


			-1



			1
			-6


			1
			1
			-3

			-1

			-39
			-3
			1
			-533
			-2


			1



			3
			-2
			-1




			-5


			-4
			-5,080




			-2

			-5

			-8
			-50
			1
			-1


			1

			-1

			-2
			-4



			1


			1
			-5




			-2

			-3

			-6
			-3
			1
			15
			-1


			1


			5
			-2
			-1


			-1



			1
			-2
			-29,172
			1



			-3

			-3

			-25
			-23
			20
			-2





			1
			-3

			1

			-1

			-1


			-3
			2,096

			1


			-2



			-7
			-41
			1
			-1





			1

			-1
			1

			-1



			1
			-3
			119,202

			1
			2

			-1



			-6
			-2

			-185
			-2

			1

			-1






			-152




			-1
			35
			1

			1

			-1



			-29
			-3
			1
			-1

			1












			-3

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	460,337
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

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see instructions before making any entries.

(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))
2017	1,206,279	20,108,939	0.059987
2016	1,200,066	19,001,147	0.063158
2015	1,199,863	20,314,506	0.059064
2014	755,198	21,015,734	0.035935
2013	755,198	19,870,643	0.038006

Total of line 1, column (d) .....................

0.25615

Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......

0.05123

Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......

20,349,777

Multiply line 4 by line 3......................

1,042,519

Enter 1% of net investment income (1% of Part I, line 27b)...........

8,548

Add lines 5 and 6........................

1,051,067

Enter qualifying distributions from Part XII, line 4,.............

1,222,234

If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.

Form 990-PF (2018)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

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	8,548
	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	8,548
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	8,548
6	Credits/Payments:

a	2018 estimated tax payments and 2017 overpayment credited to 2018	6a	6,687
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	6,687
8	Enter any penalty for underpayment of estimated tax. Check here if 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	1,861
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2019 estimated tax0	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions

for definition).................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.

If "Yes," complete Part XIV .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2018)

Page 5

Part VII-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

WELLS FARGO BANK NA Telephone no. bullet

(888) 730-4933

Located at bullet

100 N MAIN ST MAC D4001-117WINSTON SALEMNC ZIP+4 bullet

27101

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ........ bullet

16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country bullet

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?...............YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).......YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2018?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2018, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2018?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2018.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?

Form 990-PF (2018)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .................YesNo

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
Wells Fargo Bank NA	TRUSTEE 1	52,790
100 N MAIN ST MAC D4001-117 WINSTON SALEM,NC27101	TRUSTEE 1	52,790

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(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

Form 990-PF (2018)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

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

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

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

Part IX-B

Summary of Program-Related Investments (see instructions)

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

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2018)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

19,850,603

Average of monthly cash balances.......................

809,069

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

20,659,672

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

20,659,672

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

309,895

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

20,349,777

Minimum investment return. Enter 5% of line 5..................

1,017,489

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

1,017,489

Tax on investment income for 2018 from Part VI, line 5......

8,548

Income tax for 2018. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

8,548

Distributable amount before adjustments. Subtract line 2c from line 1............

1,008,941

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

1,008,941

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

1,008,941

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

1,222,234

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

1,222,234

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b. See instructions.................

8,548

Adjusted qualifying distributions. Subtract line 5 from line 4..............

1,213,686

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2018)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2017	(c) 2017	(d) 2018
1 Distributable amount for 2018 from Part XI, line 7					1,008,941
2 Undistributed income, if any, as of the end of 2018:
a Enter amount for 2017 only.......				0
b Total for prior years:2016, 2015, 20			0
3 Excess distributions carryover, if any, to 2018:
a From 2013......	0
b From 2014......	0
c From 2015......	77,506
d From 2016......	262,435
e From 2017......	207,994
fTotal of lines 3a through e........		547,935
4Qualifying distributions for 2018 from Part
XII, line 4: $ 1,222,234
a Applied to 2017, but not more than line 2a				0
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 2018 distributable amount.....					1,008,941
e Remaining amount distributed out of corpus		213,293
5 Excess distributions carryover applied to 2018.		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		761,228
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 2017. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2018. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2019 ..........					0
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
8 Excess distributions carryover from 2013 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2019. Subtract lines 7 and 8 from line 6a ......		761,228
10 Analysis of line 9:
a Excess from 2014....	0
b Excess from 2015....	77,506
c Excess from 2016....	262,435
d Excess from 2017....	207,994
e Excess from 2018....	213,293

Form 990-PF (2018)

Page 10

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

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) 2018	(b) 2017	(c) 2016	(d) 2015	(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

Part XV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

NONE

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

NONE

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

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:

Form 990-PF (2018)

Page 11

Part XV

Supplementary Information (continued)

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
FOX CHASE CANCER CENTER 333 COTTMAN AVE PHILADELPHIA,PA19111	NONE	PC	GENERAL OPERATING	741,000
LANKENAU MEDICAL CENTER FOUNDATION 100 LANCASTER AVENUE WYNNEWOOD,PA19096	NONE	PC	GENERAL OPERATING	459,000
Total ................................. 3a				1,200,000

bApproved for future payment

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

Form 990-PF (2018)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

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 ...........
4 Dividends and interest from securities....			14	454,331
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	460,337
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)..				914,668

13Total. Add line 12, columns (b), (d), and (e)..................

914,668

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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.)

Form 990-PF (2018)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

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

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

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.

Form 990-PF (2018)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
87612EBB1 TARGET CORP 2.300% 6	AT COST	30,400	29,903
68389XBC8 ORACLE CORP	AT COST	39,161	38,278
09062XAC7 BIOGEN INC	AT COST	25,464	24,814
500255AR5 KOHL'S CORPORATION 4	AT COST	26,185	25,763
037833DB3 APPLE INC	AT COST	39,526	37,596
205887BR2 CONAGRA FOODS INC 3.	AT COST	23,570	22,320
31407BLY3 FNMA POOL 825743 4.5	AT COST	2,652	2,605
312964NW5 FHLMC POOL B12205 5.
704223817 PAX WORLD SMALL CAP-	AT COST	394,605	355,585
464287499 ISHARES TR RUSSELL M	AT COST	199,482	637,706
921943809 VANGUARD TAX-MANAGED	AT COST	680,000	827,076
00203H859 AQR MANAGED FUTURES	AT COST	425,124	365,586
001055AM4 AFLAC INC 3.625% 11/	AT COST	34,962	34,973
097023AZ8 BOEING CO 4.875% 2/1	AT COST	34,500	30,644
03523TAN8 ANHEUSER-BUSCH INBEV
3135G0K69 FED NATL MTG ASSN	AT COST	25,121	24,276
06051GEX3 BANK OF AMERICA CORP	AT COST	35,484	34,993
31389VKJ5 FNMA POOL 636697 6.0	AT COST	2,156	2,325
31298VZX8 FHLMC POOL C58858 6.	AT COST	739	797
31403T6B5 FNMA POOL 757866 5.5	AT COST	5,963	6,328
31416WU34 FNMA POOL AB1501 4.0	AT COST	8,269	8,295
31401YHB4 FNMA POOL 722126 5.0	AT COST	2,857	2,961
31296JLB0 FHLMC POOL A10322 5.	AT COST	756	780
693390882 PIMCO FOREIGN BD FD	AT COST	176,178	208,979
464287200 ISHARES S & P 500 IN	AT COST	1,205,001	2,621,776
003021714 ABERDEEN EMERG MARKE	AT COST	334,000	383,492
779919307 T ROWE PR REAL ESTAT	AT COST	403,683	440,883
29875E100 AMERICAN EUROPACIFIC	AT COST	682,000	699,923
912828KQ2 US TREASURY NOTE 3.1
38148LAC0 GOLDMAN SACHS GROUP	AT COST	49,485	47,396
61945CAC7 MOSAIC CO 4.250% 11/	AT COST	26,379	25,128
31401WGQ6 FNMA POOL 720307 4.5
3128PGLG6 FHLMC POOL J04827 5.	AT COST	728	748
31389NK95 FNMA POOL 630420 6.0	AT COST	1,461	1,586
31403RP85 FNMA POOL 755647 5.5
464287655 ISHARES RUSSELL 2000	AT COST	494,869	620,091
00888Y508 INV BALANCE RISK COM	AT COST	184,000	191,679
539830AT6 LOCKHEED MARTIN CORP	AT COST	26,659	25,290
91529YAM8 UNUM GROUP	AT COST	25,204	24,715
37045XBS4 GENERAL MOTORS FINL	AT COST	25,352	24,226
172967FT3 CITIGROUP INC 4.500%	AT COST	42,044	40,869
693475AL9 PNC FINANCIAL SERVIC	AT COST	36,229	39,198
912828WE6 US TREASURY NOTE 2.7	AT COST	142,503	144,564
3132QLQY2 FHLMC POOL #Q30470	AT COST	21,326	20,387
31296NUK1 FHLMC POOL A14186 5.	AT COST	2,383	2,489
3128M1CS6 FHLMC POOL G11981 5.	AT COST	1,518	1,535
464287606 ISHARES S&P MIDCAP 4	AT COST	302,055	313,617
74253Q747 PRINCIPAL MIDCAP BLE
4812C0803 JPMORGAN HIGH YIELD	AT COST	197,671	241,401
912828WG1 US TREASURY NOTE 2.2	AT COST	66,196	64,695
40414LAL3 HCP INC 3.875% 8/15/	AT COST	24,975	24,604
912828K74 US TREASURY NOTE	AT COST	104,973	101,226
064149C88 BANK OF NOVA SCOTIA	AT COST	53,089	51,315
912828V98 US TREASURY NOTE	AT COST	90,110	88,363
912828SF8 US TREASURY NOTE 2.0	AT COST	73,807	73,946
26441CAJ4 DUKE ENERGY CORP 3.0	AT COST	25,704	24,500
00206RAJ1 AT&T INC 5.500% 2/01
36209DD43 GNMA POOL 468223 6.5	AT COST	5,993	6,569
31386TFM2 FNMA POOL 572672 6.0	AT COST	2,379	2,649
31408DQG2 FNMA POOL 848355 5.0	AT COST	3,539	3,776
31385HQR6 FNMA POOL 545064 6.5	AT COST	1,832	1,951
31402FGD1 FNMA POOL 727496 4.5
411511306 HARBOR INTERNATION F
589509207 MERGER FUND-INST #30	AT COST	475,489	487,898
315920702 FID ADV EMER MKTS IN
922042858 VANGUARD EMERGING MA	AT COST	722,595	697,421
683974604 OPPENHEIMER DEVELOPI	AT COST	344,843	378,447
78464A607 SPDR DOW JONES REIT	AT COST	127,538	311,406
373334JP7 GEORGIA POWER COMPAN	AT COST	29,923	30,232
91324PBM3 UNITEDHEALTH GROUP 3	AT COST	39,453	40,534
501044CQ2 KROGER CO/THE 3.400%	AT COST	26,639	24,743
05531FAN3 BB&T CORPORATION 2.0
693390841 PIMCO HIGH YIELD FD-	AT COST	249,948	247,608
92914A810 VOYA INTL RL EST FD
693391559 PIMCO EMERG MKTS BD-	AT COST	325,687	276,510
61746BDQ6 MORGAN STANLEY 3.875	AT COST	50,929	49,761
55279HAJ9 MANUFACTURERS & TRAD	AT COST	49,694	49,463
12572QAG0 CME GROUP INC	AT COST	30,596	29,211
912828NT3 US TREASURY NOTE 2.6	AT COST	50,805	50,071
912828S27 US TREASURY NOTE	AT COST	15,094	14,518
14912L6U0 CATERPILLAR FINL SER	AT COST	48,686	47,995
912828U24 US TREASURY NOTE	AT COST	100,464	98,321
912828U32 US TREASURY NOTE	AT COST	103,809	103,524
912828U40 US TREASURY NOTE
3137EADB2 FED HOME LN MTG CORP	AT COST	72,349	69,721
92343VBR4 VERIZON COMMUNICATIO
31292G5U6 FHLMC POOL C00859 6.	AT COST	1,695	1,860
31386BQ49 FNMA POOL 558575 7.5	AT COST	12,143	12,611
31402K5B6 FNMA POOL 731742 5.0	AT COST	3,238	3,473
31410VA67 FNMA POOL 898329 5.5	AT COST	454	486
411511504 HARBOR CAPITAL APRCT	AT COST	1,253,360	1,394,222
74925K581 ROBECO BP LNG/SHRT R	AT COST	387,686	360,999
89155H389 TOUCHSTONE MID CAP V	AT COST	300,000	285,678
912828WJ5 US TREASURY NOTE 2.5	AT COST	74,111	74,862
25466AAF8 DISCOVER FINANCIAL 3	AT COST	25,107	24,740
3135G0ZR7 FED NATL MTG ASSN 2.	AT COST	29,496	29,896
912828G38 US TREASURY NOTE 2.2	AT COST	50,303	49,139
912828J27 US TREASURY NOTE 2.0	AT COST	25,103	24,183
24422ESW0 JOHN DEERE CAPITAL	AT COST	49,865	49,432
961214BK8 WESTPAC BANKING CORP	AT COST	42,293	40,620
46625HMN7 JPMORGAN CHASE & CO	AT COST	45,515	44,592
260543CC5 DOW CHEMICAL CO/THE	AT COST	26,330	25,445
867914BM4 SUNTRUST BANKS INC	AT COST	25,145	24,382
88732JAL2 TIME WARNER CABLE IN
31410X3T1 FNMA POOL 900910 5.0	AT COST	1,828	1,927
31405NP90 FNMA POOL 794348 5.0	AT COST	3,767	3,985
31405RMT0 FNMA POOL 796970 6.0	AT COST	1,577	1,638
3128MJD49 FHLMC POOL G08122 5.	AT COST	1,912	2,069
31409XHN2 FNMA POOL 881437 6.0	AT COST	1,389	1,486
3132GUTP9 FHLMC POOL #Q09258 3	AT COST	42,718	40,063
552983694 MFS VALUE FUND-CLASS
262028855 DRIEHAUS ACTIVE INCO
78463X863 SPDR DJ WILSHIRE INT	AT COST	185,197	151,008
34528QBP8 FORD CREDIT FLOORPLA
9128283W8 US TREASURY NOTE	AT COST	99,301	101,521
55273H353 MFS VALUE FUND-R5	AT COST	1,069,657	1,119,685
58013MEX8 MCDONALD'S CORP	AT COST	24,842	24,827
256206103 DODGE & COX INT'L ST	AT COST	690,000	640,702
026874CX3 AMERICAN INTL GROUP	AT COST	35,590	35,079
09260C703 BLACKROCK GL L/S CRE	AT COST	284,400	262,523
74256W584 PRINCIPAL MIDCAP FUN	AT COST	300,000	330,753
035242AJ5 ANHEUSER-BUSCH INBEV	AT COST	17,828	17,701
31641Q763 FIDELITY NEW MRKTS I	AT COST	490,000	451,944

Description	Amount
MUTUAL FUND TIMING DIFFERENCE	8,335
PY RETURN OF CAPITAL ADJUSTMENT	3,511

Category	Amount	Net Investment Income
FOREIGN TAXES	7,774	7,774
FEDERAL ESTIMATES - PRINCIPAL	3,800	0
FOREIGN TAXES ON QUALIFIED FOR	1,127	1,127
FOREIGN TAXES ON NONQUALIFIED	1,979	1,979