| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ALEXANDRIA REAL ESTATE EQUITIES, INC. | 3,570 | 5,556 |
| AVALONBAY COMMUNITIES INC CMN | 5,453 | 7,618 |
| BOSTON PROPERTIES, INC. COMMON STOCK | 3,462 | 3,979 |
| CAMDEN PROPERTY TRUST CMN | 2,834 | 3,660 |
| CROWN CASTLE INTL CORP CMN | 1,524 | 1,665 |
| CUSHMAN & WAKEFIELD PLC CMN | 968 | 1,063 |
| CYRUSONE INC CMN | 1,406 | 1,925 |
| DOUGLAS EMMETT, INC. CMN | 2,462 | 2,772 |
| DUKE REALTY CORPORATION CMN | 3,122 | 4,182 |
| EQUINIX, INC. REIT | 6,958 | 8,502 |
| EQUITY LIFESTYLE PROPERTIES, I CMN | 2,147 | 3,357 |
| EQUITY RESIDENTIAL CMN | 5,507 | 7,713 |
| ESSEX PROPERTY TRUST INC CMN | 2,621 | 3,598 |
| EXTRA SPACE STORAGE INC. CMN | 3,292 | 3,705 |
| FEDERAL RLTY INVT TR SBI CMN | 2,560 | 2,720 |
| GOLDMAN SACHS BANK USA DEPOSIT (BDA) | 368 | 368 |
| GOLDMAN SACHS BANK USA DEPOSIT (BDA) | 10,566 | 10,567 |
| HEALTHCARE REALTY TRUST INC CMN | 2,046 | 2,573 |
| HEALTHPEAK PROPERTIES INC CMN | 3,842 | 5,003 |
| HOST HOTELS & RESORTS INC CMN | 2,787 | 2,459 |
| HUDSON PACIFIC PROPERTIES, INC CMN | 3,672 | 4,023 |
| INTERXION HOLDING N.V. CMN | 1,211 | 1,764 |
| INVITATION HOMES INC. CMN | 2,685 | 3,633 |
| ISHARES 0-5 YEAR HIGH YIELD CORPORATE BOND ETF | 123,470 | 124,983 |
| KILROY REALTY CORPORATION COMMON STOCK | 2,358 | 2,770 |
| LIFE STORAGE INC CMN | 1,794 | 2,287 |
| PROLOGIS INC CMN | 8,257 | 11,146 |
| PUBLIC STORAGE CMN | 3,063 | 3,566 |
| REGENCY CENTERS CORPORATION CMN | 2,745 | 2,690 |
| RLJ LODGING TRUST CMN | 2,389 | 1,887 |
| RYMAN HOSPITALITY PPTYS INC CMN | 1,883 | 2,273 |
| SIMON PROPERTY GROUP INC CMN | 0 | 7,986 |
| STAG INDUSTRIAL, INC. CMN | 1,323 | 1,371 |
| STORE CAPITAL CORPORATION CMN | 1,285 | 1,620 |
| URBAN EDGE PROPERTIES REIT CMN | 1,613 | 1,815 |
| VANGUARD INDEX FUNDS VANGUARD TOTAL STK MKT ETF | 1,073,044 | 1,179,477 |
| VANGUARD SHORT TERM CMN SERIES . CORPORATE BOND ETF | 653,212 | 682,668 |
| VENTAS, INC. CMN | 1,877 | 2,409 |
| W. P. CAREY INC. CMN | 972 | 1,013 |
| WELLTOWER INC. CMN | 0 | 4,897 |
| VANGUARD FTSE DEVELOPED MKTS CMN ETF | 221,748 | 212,000 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| MEZZANINE PTNRS V/DSTRSD MGRS | AT COST | 54,522 | 25,256 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| NON-US EQUITY MANAGERS PORTFOLIO 5 LLC | 106 | 0 | 0 | |
| MEZZANINE PARTNERS V/DISTRESSED MANAGERS (CONCENTRATED) II ACCESS LP | 1,980 | 0 | 0 | |
| FILING FEES | 1,043 | 1,043 | 0 | |
| ADMINISTRATIVE FEES | 20,683 | 0 | 20,683 | |
| OAKTREE CAPITAL GROUP | 69 | 69 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| NON-US PORTFOLIO MANAGERS: PORTFOLIO 5 LLC | 336 | 336 | 336 |
| MEZZANINE PARTNERS V/DISTRESSED MANAGERS | 3,428 | 3,428 | 3,428 |
| OAKTREE CAPITAL GROUP | 831 | 831 | 831 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 12,059 | 12,059 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| GOLDMAN SACHS FOREIGN TAX | 33 | 33 | 0 | |
| FEDERAL EXCISE TAX | 5,248 | 0 | 0 | |
| MEZZANINE PARTNERS FOREIGN TAX | 29 | 29 | 0 |