TY 2021 Form 990PF

Part I	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)	250,035
2	Check .............
3	Interest on savings and temporary cash investments	8	8	8
4	Dividends and interest from securities...	121,089	10,098	110,990
5a	Gross rents............	16,805		16,805
b	Net rental income or (loss) 0
6a	Net gain or (loss) from sale of assets not on line 10
b	Gross sales price for all assets on line 6a
7	Capital gain net income (from Part IV, line 2)...		199,020
8	Net short-term capital gain.........			199,020
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....		0
11	Other income (attach schedule).......		27
12	Total. Add lines 1 through 11........	387,964	209,126	326,823
	13	Compensation of officers, directors, trustees, etc.	54,836			54,836
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........		6,806			6,806
b	Accounting fees (attach schedule).......		8,200			8,200
c	Other professional fees (attach schedule)....		35,920	28,433		7,487
17	Interest...............	36,936	3,892	33,044
18	Taxes (attach schedule) (see instructions)...		9,634		5,570	4,064
19	Depreciation (attach schedule) and depletion...		14,971
20	Occupancy..............
21	Travel, conferences, and meetings.......	853			853
22	Printing and publications..........
23	Other expenses (attach schedule).......		38,192			20,204
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	206,348	32,325	38,614	102,450
25	Contributions, gifts, grants paid.......	26,178			26,178
26	Total expenses and disbursements. Add lines 24 and 25	232,526	32,325	38,614	128,628
	27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	155,438
b	Net investment income (if negative, enter -0-)		176,801
c	Adjusted net income (if negative, enter -0-)...			288,209

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.............	5,707	33,547	44,742
	2	Savings and temporary cash investments.........	149,416	179,444	164,444
	3	Accounts receivable
		Less: allowance for doubtful accounts
	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).....		0
	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..........	4,598	4,731	4,731
	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)		0
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	3,194,417	3,604,816	3,604,816
	14	Land, buildings, and equipment: basis 1,775,031
		Less: accumulated depreciation (attach schedule) 160,791	1,615,771	1,614,240	1,614,239
	15	Other assets (describe )	212,608	195,549	195,549
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	5,182,517	5,632,327	5,628,521
	17	Accounts payable and accrued expenses..........	4,812	12,127
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons		0
	21	Mortgages and other notes payable (attach schedule)......	768,542	729,945
	22	Other liabilities (describe )	0	0
	23	Total liabilities (add lines 17 through 22).........	773,354	742,072
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	4,171,663	4,652,755
	25	Net assets with donor restrictions............	237,500	237,500
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	4,409,163	4,890,255
	30	Total liabilities and net assets/fund balances (see instructions).	5,182,517	5,632,327

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 29 (must agree with end-of-year figure reported on prior year’s return) ...............

4,409,163

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

155,438

Other increases not included in line 2 (itemize) bullet

325,654

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

4,890,255

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

4,890,255

(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
1 a	SEE ATTACHED SCHEDULE OF TRANSACTIONS	P
b
c
d
e

(e) Gross sales price		(f) Depreciation allowed (or allowable)	(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	1,632,814	0	1,433,794	199,020
b
c
d
e

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	0	0	0	199,020
b
c
d
e

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	199,020
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	199,020

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	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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	2,458
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	2,458
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	120
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	120
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	2,338
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 2022 estimated tax0	Refunded	11

(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
Mildred Kriemelmeyer	Trustee 0.00	0	0	0
16900 Mattawoman Lane Waldorf,MD20601
Mike Rudy	President 0.00	0	0	0
415 Swaggers Point Road Solomons,MD20688
Karen Meadow	Secretary 0.00	0	0	0
2304 South Road Baltimore,MD21209
Michael Gardner	Vice Pres. 0.00	0	0	0
2100 Cove Point Road Lusby,MD20657
Robert Boxwell	Business Mgr. 40.00	52,224	0	0
245 ELKINS LANE LUSBY,MD20657
FRANK BRAYTON	Treasurer 0.00	0	0	0
2100 Cove Point Road Lusby,MD20657
Lila West	Trustee 0.00	0	0	0
12825 Rio Grande Trail Lusby,MD20657
Becky Hunter	Trustee 0.00	0	0	0
PO Box 131 Park Hall,MD20667

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	Preservation and protection: Payments for research contracts and expenses associated with maintaining the properties owned by Cove Point for preservation of land & environment.	103,222
2	Administrative expenses paid in order to reach goals and purpose of organization	87,155
3	Education of community related to preservation of land and the environment	13,827
4

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

		(a) Corpus	(b) Years prior to 2020	(c) 2020	(d) 2021
1 Distributable amount for 2021 from Part X, line 7					0
2 Undistributed income, if any, as of the end of 2021:
a Enter amount for 2020 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2021:
a From 2016......	39,017
b From 2017......	29,199
c From 2018......	0
d From 2019......	0
e From 2020......	226,421
f Total of lines 3a through e ........		294,637
4Qualifying distributions for 2021 from Part
XI, line 4: $ 128,628
a Applied to 2020, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2021 distributable amount.....
e Remaining amount distributed out of corpus		128,628
5 Excess distributions carryover applied to 2021.
(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		423,265
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......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2021. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2022 ..........					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) .......
8 Excess distributions carryover from 2016 not applied on line 5 or line 7 (see instructions) ...		39,017
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......		384,248
10 Analysis of line 9:
a Excess from 2017....	29,199
b Excess from 2018....	0
c Excess from 2019....	0
d Excess from 2020....	226,421
e Excess from 2021....	128,628

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) 2021	(b) 2020	(c) 2019	(d) 2018	(e) Total
	255,997	39,044	0	0	295,041
b 85% (0.85) of line 2a .........	217,597	33,187	0	0	250,784
c Qualifying distributions from Part XI, line 4 for each year listed .....	128,628	226,421	0	0	355,049
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 ....	128,628	226,421	0	0	355,049
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......	3,817,807	3,349,587			7,167,394
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)	1,614,240	1,615,771			3,230,011
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, 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

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

Bob Boxwell
PO Box 336
Lusby,MD20657
(410) 394-1300

bThe form in which applications should be submitted and information and materials they should include:

N/A

cAny submission deadlines:

None

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

None

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
St Mary's College East Fishers Road St Marys City,MD20686		College	Environmental	2,588
Towson University 8000 York Road Towson,MD21252		College	Environmental	0
Anne Arundel Comm College 101 College Pkwy Arnold,MD21012		College	Environmental	3,000
M NCPPC-Clearwater 11400 Thrift Road Clinton,MD21224		GOVT	Environmental	0
Morgan State University 1700 E Cold Spring Lane Baltimore,MD21251		Colllege	Environmental	0
ST MARY'S RIVER WATERSHED ASSOCIATION INC 46940 S SHANGRI-LA DR 9 LEXINGTON PARK,MD20653		GOVT	ENVIRONMENTAL	7,500
BRENT STUERY 8316 WOODACRE ST ALEXANDRIA,VA22308	NONE	PRIVATE	ENVIRONMENTAL	3,200
AUDUBON MARYLAND-DC 2901 E BALTIMORE ST BALTIMORE,MD21224		PRIVATE	ENVIRONMENTAL	0
PRINCE GEORGE'S CONTY DEPARTMENT OF PARKS AND REC 6600 KENILWORTH AVE RIVERDALE,MD20737		GOVT	ENVIRONMENTAL	6,116
COLLEGE OF SOUTHER MARYLAND FOUNDATION RT 231 PRINCE FREDERICK,MD20678		COLLEGE	EDUCATION	1,274
AMANDA BEVINS 2106 DEXTER AVE APT 202 SILVER SPRING,MD20902		PRIVATE	EDUCATION	1,250
AMBER STAPLES 38325 LAUREL RIDGE DR MECHANICSVILLE,MD20659		PRIVATE	EDUCATION	1,250
Total ................................. 3a				26,178

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

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 ...........			14	8
4 Dividends and interest from securities ....
5 Net rental income or (loss) from real estate:
aDebt-financed property......			16	16,805
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 ............
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) ..				137,902

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

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.

Software ID:
Software Version:
Part VI Line 7 - Tax Paid with the Original Return:	120


(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

bApproved for future payment

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

Name of organization COVE POINT NATURAL HERITAGE TRUSTINC

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	DOMINION COVE POINT LNG LP PO BOX 26666 RICHMOND, VA23261	$ 250,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2021)

Name of organization COVE POINT NATURAL HERITAGE TRUSTINC		Employer identification number 52-1910341

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (2021)


Name of organization COVE POINT NATURAL HERITAGE TRUSTINC			Employer identification number 52-1910341
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FERNANDES DEGENNARO & ASSOC TAX RETURN AND BOOKKEEPING	4,200			4,200
ASKEY ASKEY & ASSOC AUDIT	4,000			4,000

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense
Building-11785 Clifton	1999-03-16	307,407	85,895	SL	39.000000000000	3,952
Building Improvements-HC	2000-12-27	1,348	694	SL	39.000000000000	34
Front Door Frame	2001-12-27	576	285	SL	39.000000000000	15
Roof	2002-09-12	13,000	6,105	SL	39.000000000000	333
Flooring Repairs	2004-11-04	5,369	2,222	SL	39.000000000000	138
Garage	2005-07-01	4,155	1,648	SL	39.000000000000	106
Improvements HC	2000-12-16	4,400	2,260	SL	39.000000000000	113
Laptop	2010-01-27	857	857	200DB	5.000000000000	0
Herbarum Cabinets	1996-11-22	1,170	1,170	200DB	7.000000000000	0
Conference Table	1997-01-01	500	500	200DB	7.000000000000	0
Workstations	1997-01-01	7,600	7,600	200DB	7.000000000000	0
Chairs	1997-01-01	1,200	1,200	200DB	7.000000000000	0
Gate	2001-07-06	592	592	200DB	7.000000000000	0
Washer/Dryer	2005-01-31	849	849	200DB	5.000000000000	0
Carpet-Helen Creek	2004-10-12	9,837	9,486	200DB	7.000000000000	0
Refrigerator	2005-01-31	715	715	200DB	5.000000000000	0
ATV-Helen Creek	2005-07-15	7,425	7,425	200DB	5.000000000000	0
Display	2006-03-01	314	314	200DB	5.000000000000	0
GPS Unit	2006-03-01	358	358	200DB	5.000000000000	0
Land-Helen Creek	2000-12-31	89,397	0	NONE	0.000000000000	0
Land-Ochterbeck	2001-07-16	133,844	0	NONE	0.000000000000	0
Land-Hilltop Road	2006-09-01	82,228	0	NONE	0.000000000000	0
Turner Road Land-Tract 2	2018-06-18	475,934	0	NONE	0.000000000000	0
Turner Road Barn-Tract 2 Barn	2018-06-18	25,511	2,358	SL	27.500000000000	928
Turner Road Land Tract 3	2018-06-18	219,233	0	NONE	0.000000000000	0
Turner Road Dwelling 1-Tract 3	2018-06-18	47,886	4,425	SL	27.500000000000	1,741
Turner Road-Dwelling-Tract 3	2018-06-18	55,809	5,157	SL	27.500000000000	2,029
Turner Road-Barn-Tract 3	2018-06-18	23,899	0	SL	27.500000000000	869
Turner Road-Stable-Tract 3	2018-06-18	18,270	0	SL	27.500000000000	664
Turner Road Improvements-Tract 3	2018-06-18	31,888	2,948	SL	27.500000000000	1,160
Computer equipment	2019-02-27	2,962	1,540	200DB	5.000000000000	569
Septic repair & remediation	2019-04-10	6,793	583	SL	15.000000000000	460
ASPHALT MILLINGS	2021-08-03	10,500		NONE	0.000000000000	0
PRESSURE TANK	2021-09-10	1,860		200DB	7.000000000000	0

Category/ Item	Book Value	End of Year Fair Market Value
AB BD FD INC	537,072	537,072
EQUITIES STOCKS	1,076,564	1,076,564
GLOBAL EQUITY	649,898	649,898
INTERNATIONAL GROWTH	551,132	551,132
ISHARES 10 YEAR	115,460	115,460
ISHARES 3 YEAR	239,084	239,084
MATHES GLOBAL	46,610	46,610
MATHES INTERMEDIATE	46,778	46,778
MATHES REAL ASSET	34,962	34,962
MATHES ALLIANCE WEALTH	223,140	223,140
MATHES DYNAMIC OVERLAY A	68,235	68,235
MATHES OVERLAY B	15,881	15,881

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value
EQUIPMENT	12,832	12,832	0
FURNITURE AND FIXTURES	22,481	19,417	3,064
HC-LAND	153,506	0	153,506
HC-BUILDING	179,520	109,781	69,739
HC-GARAGE	4,155	1,757	2,398
HC-LAND ADDITION	89,397	0	89,397
LAND-TURNER ROAD	695,167	0	695,167
LAND-HILLTOP	118,020	0	118,020
LAND-OCHTERBECK	133,844	0	133,844
LAND 11700 CLIFTON DR	156,053	0	156,053
TURNER ROAD PROP	210,056	17,004	193,052

Item No.	1
Lender's Name	COMMUNITY BANK
Lender's Title
Relationship to Insider
Original Amount of Loan
Balance Due	625,835
Date of Note
Maturity Date
Repayment Terms
Interest Rate
Security Provided by Borrower
Purpose of Loan
Description of Lender Consideration
Consideration FMV

Item No.	2
Lender's Name	BERNSTEIN MARGIN
Lender's Title
Relationship to Insider
Original Amount of Loan
Balance Due	104,110
Date of Note
Maturity Date
Repayment Terms
Interest Rate
Security Provided by Borrower
Purpose of Loan
Description of Lender Consideration
Consideration FMV

Description	Revenue and Expenses per Books	Disbursements for Charitable Purposes
Amortization	17,059
Community Outreach	0	0
Dues & Memberships	2,400	2,400
Education	500	500
Exhibits/Lectures	0	0
Health Insurance	3,726	2,797
Insurance	4,955	4,955
Miscellaneous	128	128
Office expenses	477	477
Property maintenance	4,297	4,297
Utilities	4,650	4,650

Description	Amount
REALIZED GAIN ON SECURITIES	199,020
UNREALIZED GAIN ON SECURITIES	125,557
DEPRECIATION ADJUSTMENT	1,077

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
BARRETT & ASSOC ENGINEERING	7,487			7,487
BERNSTEIN INVEST ACTIVITY INVESTMENT	28,433	28,433