| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ACE INC - 2.875% - 11/03/2022 | 8,817 | 9,377 |
| AMGEN INC - 3.625% - 05/22/202 | 9,238 | 9,879 |
| AT&T INC - 4.300% - 02/15/2030 | 13,614 | 14,334 |
| BANK AMER CORP FR - 3.300% - 0 | 8,834 | 9,542 |
| BANK NEW YORK MELLONCORP MTN B | 8,393 | 9,920 |
| BARCLAYS BANK PLC UO TC-CYN ND | 100,000 | 101,699 |
| BP PLC SPONSORED ADR - 3.937% | 8,956 | 10,566 |
| CATERPILLAR INC - 3.400% - 05/ | 8,976 | 9,822 |
| CITIGROUP - 3.700% - 01/12/202 | 8,678 | 10,227 |
| CITIGROUP INC BND - 3.300% - 0 | 4,436 | 4,436 |
| CME GROUP INC - 3.000% - 03/15 | 8,630 | 9,850 |
| COMCAST CORP - 2.650% - 02/01/ | 6,243 | 6,564 |
| COMCAST CORP - 3.150% - 03/01/ | 8,462 | 10,048 |
| CREDIT SUISSE AG L/O - 0.000% | 99,999 | 97,100 |
| CVS CAREMARK CORP NOTE - 4.300 | 6,650 | 7,140 |
| GENERAL MTRS CO - 4.200% - 10/ | 5,313 | 5,666 |
| GOLDMAN SACHS GROUP INC - 3.62 | 8,925 | 9,604 |
| HCA INC NOTE - 4.750% - 05/01/ | 4,367 | 4,362 |
| HSBC HOLDINGS PLC - 4.000% - 0 | 9,124 | 9,406 |
| INTEL CORP NOTE CALL MAKE WHOL | 9,014 | 10,184 |
| JPMORGAN CHASE & CO - 4.125% - | 8,868 | 10,522 |
| MICROSOFT CORP - 3.125% - 11/0 | 8,747 | 10,061 |
| MORGAN STANLEY - 3.875% - 01/2 | 8,762 | 10,303 |
| ORACLE CORP NOTE CALL - 1.900% | 4,819 | 5,050 |
| PNC FINL SVCS GROUP INC - 3.45 | 9,663 | 10,374 |
| STATOIL ASA - 0.025% - 01/17/2 | 8,672 | 9,391 |
| TARGET CORP - 2.900% - 01/15/2 | 4,957 | 5,138 |
| THERMO FISHER - 4.497% - 03/25 | 2,267 | 2,500 |
| THERMO FISHER SCIENTIFIC INC - | 4,591 | 4,551 |
| TOTAL FINA ELF S.A - 2.750% - | 8,904 | 9,105 |
| UNION PACIFIC CORP - 3.700% - | 11,115 | 11,600 |
| VERIZON COMMS - 4.329% - 09/21 | 11,563 | 12,008 |
| VISA INC NOTE - 3.150% - 12/14 | 8,683 | 10,097 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AFFIL MANAGERS GR PFD STOCK - | 3,323 | 3,774 |
| AFFILIATED MANAGERS GROUP INC | 3,754 | 3,956 |
| AIG-PA | 2,341 | 2,536 |
| ALABAMA POWER CO PFD CL A - 5. | 1,085 | 1,174 |
| ALGONQUIN PWR &UTILITY PFD - 0 | 2,402 | 2,533 |
| ALLSTATE CORP 4.750 PRF | 3,585 | 3,916 |
| ALLSTATE CORP DEP 1/1000 PFD G | 4,424 | 4,795 |
| ALLSTATE CORP SUB DE FIXED TO | 1,016 | 1,075 |
| ALLSTATE PFD SER H | 4,248 | 4,724 |
| AMERICAN FINANCIAL GROUP C | 2,352 | 2,608 |
| AMERICAN FINANCIAL GROUP INC | 1,160 | 1,266 |
| ARCH CAP GROUP LTD NON CUM DEP | 5,070 | 5,565 |
| ARCH CAPITAL GROUP LTD PFD - 5 | 4,660 | 5,426 |
| ASSOC BANC CORP WISC 5.625% PF | 2,364 | 2,716 |
| AT&T 5.625% 08/01/2067 | 4,423 | 4,840 |
| AT&T DEPO SHA REP 1000 PREFERR | 4,909 | 5,218 |
| AT&T INC 5.00% PRF | 4,657 | 5,075 |
| BAC CAPITAL PFD 6.20% | 3,678 | 3,524 |
| BANK AMER DS PFD SER KK | 3,455 | 3,741 |
| BANK OF AMERICA CORP 4.375% PF | 3,740 | 3,983 |
| BANK OF AMERICA CORP PFD | 2,449 | 2,700 |
| BANK OF AMERICA CORPORATION DE | 5,796 | 6,329 |
| BANK OF AMERICA PREF A | 3,109 | 3,041 |
| BARCLAYS BANK PLC 1/0 TC-CYN N | 100,000 | 99,799 |
| CAPITAL ONE FINANCIAL PFD STK | 2,763 | 2,829 |
| CAPITAL ONE FINCL CORP 5.000% | 7,165 | 7,658 |
| CAPITAL ONE FINL DS REPRESENTI | 3,616 | 3,770 |
| CHARLES SCHWAB PFD 6.0% SER C | 10,030 | 9,663 |
| CHARLES SCHWAB PFD STK SER D 5 | 3,750 | 3,724 |
| CITIGROUP CAP TR IX PFD - 6.00 | 1,234 | 1,201 |
| CITIGROUP INC PFD SER D - 6.87 | 8,096 | 8,355 |
| CITIGROUP INC PFD SER J - 7.12 | 5,246 | 5,375 |
| CITIZENS FINANCIAL GROUP INC P | 2,801 | 3,172 |
| CITIZENS FINANCIAL GROUP INC P | 5,951 | 6,362 |
| CMS ENERGY CORP 5.875 NTS 79 5 | 2,284 | 2,428 |
| CMS ENERGY PFD STK - 5.625% | 2,172 | 2,292 |
| DIGITAL REALTY PFD SER L | 2,437 | 2,621 |
| DIGNITY PLC | 1,728 | 1,716 |
| DOMINION RES SRS A 5.250% - 07 | 10,147 | 10,629 |
| DTE ENERGY CO 4.375% SER G DUE | 2,496 | 2,714 |
| DTE ENERGY COMPANY JUNIOR SUB | 4,702 | 4,810 |
| DTE ENERGY PFD SHARES - 5.25% | 2,119 | 2,285 |
| DUKE ENERGY CORP NEWJR SB DB - | 2,247 | 2,420 |
| DUKE ENERGY DRC | 1,745 | 1,825 |
| ENBRIDGE INC PFD 6.375% | 7,730 | 8,258 |
| ENTERGY ARK INC 1M BD PFD - 4. | 2,098 | 2,238 |
| ENTERGY CORP NEW ORLEANS - 5.5 | 1,029 | 1,022 |
| ENTERGY LA LLC PFD - 4.875% - | 2,077 | 2,241 |
| ENTERGY MISSISSIPPI INC PFD - | 3,130 | 3,419 |
| EQUITABLE HOLDINGS INC PFD SER | 1,001 | 1,066 |
| FEDERAL REALTY INVESTMENT TRUS | 1,036 | 1,035 |
| FIFTH THIRD BANC | 3,448 | 4,075 |
| FIRST REP BK SAN FRAN NEW DS R | 1,232 | 1,296 |
| FIRST REPUBLIC BANK - 5.125% S | 1,043 | 1,133 |
| FIRST REPUBLIC BANK PFD SER I | 1,905 | 2,048 |
| FIRST REPUBLIC BANK PFD SER J | 2,406 | 2,517 |
| FITB - 6.625% - PFD SER 1 | 3,664 | 3,931 |
| GATX CORP PREFERRED - 5.625% - | 3,321 | 3,395 |
| GEORGIA PWR CO 5.00% 10/1/2077 | 3,060 | 3,512 |
| GOLDMAN SACHS GP PFD - 6.375% | 4,868 | 5,172 |
| GOLDMAN SACHS GROUP PFD SER J | 10,436 | 10,932 |
| GOLDMAN SACHS GROUP PFD SHS SE | 4,078 | 4,084 |
| HARTFORD FINL SVCS GRP PFD - 7 | 6,970 | 6,847 |
| HARTFORD FINL SVCS GRP PFD G - | 1,780 | 2,058 |
| JP MORGAN CHASE | 582,773 | 653,139 |
| JP MORGAN CHASE & CO PFD SER D | 4,554 | 4,946 |
| JP MORGAN CHASE PFD SER GG | 3,508 | 3,879 |
| JPMORGAN CHASE & CO 6.00% PFD | 4,637 | 5,041 |
| KEYCORP 6.125% DEP PFD SERIES | 8,054 | 8,547 |
| KEYCORP DEPOSITORY SHARES | 1,085 | 1,195 |
| KEYCORP PFD SER G DRC | 1,992 | 2,175 |
| KIMCO REALTY CORP PFD SER M - | 3,392 | 3,725 |
| KIMCO REALTY DEP SH REPSTG PFD | 1,865 | 2,102 |
| LORD ABBETT INV TR, LORD ABBET | 554,735 | 506,670 |
| METLIFE INC 5.62500% PFD | 4,449 | 4,834 |
| METLIFE INC PFD SER F | 7,933 | 8,813 |
| MICROSOFT CORP | 707,576 | 1,379,003 |
| MORGAN STANLEY - 6.375% PFD CL | 922 | 1,234 |
| MORGAN STANLEY PFD K | 3,613 | 3,952 |
| MORGAN STANLEY PFD SER A | 1,571 | 1,771 |
| MORGAN STANLEY PFD SER E - 7.1 | 7,249 | 7,588 |
| MORGAN STANLEY PFD SER F - 6.8 | 2,568 | 2,651 |
| MORGAN STANLEY PREF SERIES L | 2,394 | 2,530 |
| NATIONAL RETAIL PROP INC PFD S | 2,834 | 2,992 |
| NATIONAL RURAL UTIL - 5.50% - | 2,405 | 2,635 |
| NEW YORK CMNTY BANCORP CUML SE | 6,981 | 7,452 |
| NEXTERA ENERGY CAP HLDS 5.25% | 4,263 | 4,366 |
| NEXTERA ENERGY PFD - 5.650% - | 7,080 | 7,642 |
| NORTHERN TRUST CORP | 2,384 | 2,639 |
| PEOPLES UNITED FINANCIAL INC | 2,700 | 2,856 |
| PNC FINANCIAL SERVICES PFD SER | 14,281 | 14,219 |
| PRUDENTIAL FINANCIAL INC PFD - | 2,214 | 2,453 |
| PRUDENTIAL FINL INC PFD DUE 09 | 5,044 | 5,270 |
| PS BUSINESS PARKS INC | 4,111 | 4,414 |
| PS BUSINESS PARKS INC PFD SER | 2,084 | 2,271 |
| PS BUSINESS PKS PFD SER Z | 2,389 | 2,602 |
| PUBLIC STORAGE CL H | 2,310 | 2,505 |
| PUBLIC STORAGE CUM PFD SER B | 1,045 | 1,053 |
| PUBLIC STORAGE PFD 4.875% SER | 2,370 | 2,601 |
| PUBLIC STORAGE PFD 5.15% SER F | 2,102 | 2,270 |
| PUBLIC STORAGE PFD G 5.05% 12/ | 1,056 | 1,176 |
| PUBLIC STORAGE PFE SERIES L | 2,397 | 2,605 |
| PUBLIC STORAGE PRFD 'K' | 2,268 | 2,664 |
| REGIONS FINANCIAL | 1,193 | 1,296 |
| REGIONS FINANCIAL CORP NEW MON | 3,834 | 3,937 |
| RENAISSANCERE HLDGS PFD SER F | 2,215 | 2,473 |
| ROYAL DUTCH SHELL CL A | 518,671 | 421,679 |
| SOUTHERN CO GAS CAPITAL PFD - | 1,926 | 2,203 |
| SOUTHERN CO JR 2017 NY 77 5.25 | 1,338 | 1,420 |
| STATE STREET 5.35% - CLASS B | 4,444 | 4,981 |
| STATE STREET CORP NEW MONEY PF | 3,671 | 4,023 |
| STIFEL FINL CORP PFD SER C | 1,173 | 1,321 |
| STIFEL FINL CORP SER B 5.200% | 3,114 | 3,334 |
| SVB FINL GROUP PFD SER A | 1,061 | 1,236 |
| SYNOVUS FINANCIAL CORP PFD 5.8 | 2,370 | 2,441 |
| TRUIST FIN PFD SER R | 4,941 | 5,423 |
| TRUIST FINANCIAL CORP PFD SER | 2,319 | 2,587 |
| TRUIST FINL CORP 5.2 PRF | 960 | 1,000 |
| TRUIST FINL CORP SER G 5.20% | 1,744 | 1,753 |
| TRUST FINL CORP SER H 5.20% | 3,582 | 3,613 |
| UBS L/O TC-CYN NDX RTY SPX 05/ | 100,000 | 99,899 |
| US BANCORP DEL REPSTG 1 1000TH | 2,522 | 2,534 |
| US BANCORP DEL SER K PFD - 5.5 | 2,246 | 2,507 |
| US BANCORP PFD SER B - FLOAT % | 593 | 694 |
| US BANCORP PFD STK - 6.500% | 9,729 | 9,464 |
| VORNADO REALTY TR PFD M | 2,863 | 3,137 |
| VORNADO RLTY TRUST 5.250% PFD | 2,024 | 2,164 |
| VOYA FINL INC SER B 5.35 | 4,763 | 5,352 |
| WEBSTER FINL CORP PFD STK SER | 1,064 | 1,157 |
| WELLS FARGO & CO 5.500% PFD | 4,146 | 4,330 |
| WELLS FARGO COMPANY PREFERRED | 2,421 | 2,563 |
| WELLS FARGO PFD NON-CUM - 5.85 | 6,114 | 6,283 |
| WELLS FARGO PFD SER R - 6.625% | 7,597 | 8,007 |
| WELLS FARGO PREF Y | 2,209 | 2,300 |
| WR BERKLEY CORP 4.250% DUE 09/ | 1,256 | 1,314 |
| WR BERKLEY CORP 5.10$ PRF | 2,338 | 2,531 |
| WR BERKLEY CORP PFD C | 623 | 613 |
| WR BERKLEY CORP PFD D | 4,114 | 4,205 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Administrative Fees | 18,287 | 18,287 | ||
| Bank Charges | 100 | 100 | ||
| Postage/Delivery Service | 25 | 25 | ||
| State or Local Filing Fees | 25 | 25 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment Management Services | 2,887 | 2,887 | ||
| PHILANTHROPIC CONSULTING SRVCS | 2,610 | 2,610 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 990-PF Estimated Tax for 2020 | 9,500 | |||
| 990-PF Excise Tax for 2019 | 2,366 | |||
| Foreign Tax Paid | 1,751 | 1,751 |