| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PROFESSIONAL FEES | 6,628 | 0 | 0 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| AMEX CONSUMER DISCR SPDR FUND | FMV | 14,158 | 14,158 |
| AMEX ENERGY SELECT SPDR FUND | FMV | 3,613 | 3,613 |
| AMEX INDUSTRIAL SPDR FUND | FMV | 13,333 | 13,333 |
| AMEX MATERIALS SPDR FUND | FMV | 3,082 | 3,082 |
| AMEX TECHNOLOGY SELECT SPDR FUND | FMV | 20,949 | 20,949 |
| AQR MANAGED FUTURES STRATEGY FUND | FMV | 13,223 | 13,223 |
| ASG GLOBAL ALTERNATIVES FUND | FMV | 8,650 | 8,650 |
| COMMUNIATIONS SERVICES SELECT | FMV | 7,513 | 7,513 |
| CONSUMER STAPLES SECTOR SPDR FUND | FMV | 7,058 | 7,058 |
| EATON VANCE GLOBAL MACRO ABSOLUTE RETURN FUND | FMV | 13,537 | 13,537 |
| FIDELITY ADVISORS EMERGING MARKETS | FMV | 27,128 | 27,128 |
| FINANCIAL SELECT SECTOR SPDR FUND | FMV | 16,579 | 16,579 |
| HEALTH CARE SELECT SECTOR SPDR FUND | FMV | 19,551 | 19,551 |
| ISHARES CORE MSCI EMERGING MARKETS | FMV | 13,674 | 13,674 |
| ISHARES RUSSELL 2000 ETF | FMV | 32,672 | 32,672 |
| ISHARES S&P MID-CAP 400 GROWTH FUND | FMV | 18,741 | 18,741 |
| ISHARES S&P MID-CAP 400 VALUE FUND | FMV | 18,676 | 18,676 |
| JOHN HANCOCK ABSOLUTE RETURN FUND | FMV | 9,137 | 9,137 |
| JPMORGAN HIGH YIELD FUND | FMV | 6,060 | 6,060 |
| NEUBERGER BERMAN LONG SHORT FUND | FMV | 8,090 | 8,090 |
| POWERSHARES DB OPTIMUM YIELD | FMV | 7,761 | 7,761 |
| SPDR DJ WILSHIRE INTERNATIONAL REAL ESTATE ETF FUND | FMV | 4,912 | 4,912 |
| T ROWE PRICE INSTITUTIONAL FLOAT RATE FUND | FMV | 2,566 | 2,566 |
| T ROWE PRICE REAL ESTATE FUND | FMV | 3,945 | 3,945 |
| TCW EMERGING MARKETS | FMV | 22,546 | 22,546 |
| THE BLACKROCK GLOBAL LONG/SHORT CREDIT FUND | FMV | 12,682 | 12,682 |
| VANGUARD FTSE DEVELOPED MARKETS FUND | FMV | 30,014 | 30,014 |
| VANGUARD FTSE EMERGING MARKETS FUND | FMV | 27,546 | 27,546 |
| VANGUARD INTERMEDIATE TERM B FUND | FMV | 24,875 | 24,875 |
| VANGUARD SHORT TERM BOND ETF FUND | FMV | 7,306 | 7,306 |
| Description | Amount |
|---|---|
| CHANGE IN UNREALIZED GAIN/LOSS | 73,883 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 6,778 | 6,778 | 0 | |
| OFFICE SUPPLIES | 10,122 | 0 | 0 |
| Description | Amount |
|---|---|
| CHANGE IN CONTRIBUTIONS PAYABLE | 60,000 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| CONTRIBUTIONS PAYABLES | 80,000 | 20,000 |
| Name | Address |
|---|---|
|
KW ASSOCIATES LLC |
825 BLUFF ROAD COLUMBIA,SC29201 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXCISE TAX ON INVESTMENT INCOME | 339 | 0 | 0 |