| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 12,900 | 0 | 12,900 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 3M COMPANY 3.000% DUE 8/7/25 250,000.000 QTY | 236,750 | 236,750 |
| AETNA INC 3.500% DUE 11/15/24 250,000.000 QTY | 241,390 | 241,390 |
| ALTRIA GROUP INC 4.000% DUE 1/31/24 250,000.000 QTY | 491,920 | 491,920 |
| AMAZON.COM INC 1.200% DUE 6/3/27 250,000.000 QTY | 212,450 | 212,450 |
| AMAZON.COM INC 2.100% DUE 5/12/31 250,000.000 QTY | 199,958 | 199,958 |
| AMAZON.COM INC 3.800% DUE 12/5/24 250,000.000 QTY | 245,523 | 245,523 |
| AMERICAN INTL GROUP 3.900% DUE 4/1/26 250,000.000 QTY | 238,135 | 238,135 |
| ANHEUSER-BUSCH INBEV WOR 4.750% DUE 1/23/29 250,000.000 QTY | 243,018 | 243,018 |
| ANTHEM INC 4.101% DUE 3/1/28 250,000.000 QTY | 468,230 | 468,230 |
| APPLE INC 3.250% DUE 2/23/26 250,000.000 QTY | 238,120 | 238,120 |
| APPLE INC 3.200% DUE 5/13/25 250,000.000 QTY | 240,575 | 240,575 |
| BANK OF NY MELLON CORP 3.000% DUE 10/30/28 250,000.000 QTY | 215,750 | 215,750 |
| BANK OF NY MELLON CORP 3.250% DUE 5/16/27 250,000.000 QTY | 230,953 | 230,953 |
| BLACKROCK INC 3.500% DUE 3/18/24 500,000.000 QTY | 490,395 | 490,395 |
| BRISTOL-MYERS SQUIBB CO 3.250% DUE 2/27/27 250,000.000 QTY | 467,085 | 467,085 |
| CANADIAN PACIFIC LTD 4.450% DUE 3/15/23 250,000.000 QTY | 249,050 | 249,050 |
| CATERPILLAR INC 2.600% DUE 4/9/30 250,000.000 QTY | 211,293 | 211,293 |
| CATERPILLAR INC 2.600% DUE 9/19/29 250,000.000 QTY | 213,198 | 213,198 |
| CBS CORP 4.000% DUE 1/15/26 250,000.000 QTY | 233,903 | 233,903 |
| CIGNA CORP 3.250% DUE 4/15/25 250,000.000 QTY | 236,335 | 236,335 |
| CISCO SYSTEMS INC 3.500% DUE 6/15/25 250,000.000 QTY | 242,628 | 242,628 |
| CITIGROUP INC 3.875% DUE 3/26/25 250,000.000 QTY | 238,965 | 238,965 |
| CITIGROUP INC 4.125% DUE 7/25/28 250,000.000 QTY | 224,998 | 224,998 |
| CITIGROUP INC 4.300% DUE 11/20/26 250,000.000 QTY | 235,430 | 235,430 |
| COCA-COLA CO/THE 2.000% DUE 3/5/31 250,000.000 QTY | 200,013 | 200,013 |
| COLGATE-PALMOLIVE CO 3.250% DUE 5/15/24 250,000.000 QTY | 245,743 | 245,743 |
| COMCAST CORP 3.375% DUE 2/15/25 250,000.000 QTY | 240,803 | 240,803 |
| CONOCOPHILLIPS COMPANY 3.350% DUE 5/15/25 250,000.000 QTY | 237,840 | 237,840 |
| CVS HEALTH CORP 3.875% DUE 7/20/25 250,000.000 QTY | 241,113 | 241,113 |
| EXXON MOBIL CORPORATION 3.176% DUE 3/15/24 250,000.000 QTY | 489,825 | 489,825 |
| FNMA CMO 1993 7.000% DUE 5/25/23 80,000.000 QTY | 776 | 776 |
| GENERAL MILLS INC 3.200% DUE 2/10/27 250,000.000 QTY | 231,418 | 231,418 |
| GNMA CMO 2004 5.500% DUE 2/20/34 500,000.000 QTY | 142,186 | 142,186 |
| GNMA CMO 2008 6.000% DUE 8/16/38 8,250,000.000 QTY | 2,067,627 | 2,067,627 |
| GNMA CMO 2009 4.500% DUE 12/20/38 6,000,000.000 QTY | 5,459 | 5,459 |
| GOLDMAN SACHS GROUP INC 3.800% DUE 3/15/30 250,000.000 QTY | 214,855 | 214,855 |
| GOLDMAN SACHS GROUP INC 3.850% DUE 7/8/24 500,000.000 QTY | 488,715 | 488,715 |
| GOLDMAN SACHS GROUP INC 5.950% DUE 1/15/27 250,000.000 QTY | 252,143 | 252,143 |
| HALLIBURTON CO 3.800% DUE 11/15/25 250,000.000 QTY | 240,130 | 240,130 |
| HOME DEPOT INC 2.950% DUE 6/15/29 250,000.000 QTY | 220,203 | 220,203 |
| HOME DEPOT INC 3.000% DUE 4/1/26 250,000.000 QTY | 234,950 | 234,950 |
| HOME DEPOT INC 3.750% DUE 2/15/24 250,000.000 QTY | 247,230 | 247,230 |
| HONEYWELL INTERNATIONAL 2.700% DUE 8/15/29 250,000.000 QTY | 217,595 | 217,595 |
| HUMANA INC 3.950% DUE 3/15/27 250,000.000 QTY | 466,990 | 466,990 |
| INTEL CORP 2.450% DUE 11/15/29 250,000.000 QTY | 206,408 | 206,408 |
| INTEL CORP 3.150% DUE 5/11/27 250,000.000 QTY | 230,835 | 230,835 |
| INTEL CORP 3.700% DUE 7/20/25 250,000.000 QTY | 242,593 | 242,593 |
| JOHNSON & JOHNSON 3.375% DUE 12/5/23 250,000.000 QTY | 249,138 | 249,138 |
| JPMORGAN CHASE & CO 3.875% DUE 2/1/24 250,000.000 QTY | 246,900 | 246,900 |
| JPMORGAN CHASE & CO 3.900% DUE 7/15/25 250,000.000 QTY | 241,338 | 241,338 |
| KELLOG CO 3.250% DUE 4/1/26 250,000.000 QTY | 233,950 | 233,950 |
| MCDONALD'S CORP 3.375% DUE 5/26/25 250,000.000 QTY | 239,878 | 239,878 |
| MCDONALD'S CORP 3.700% DUE 1/30/26 250,000.000 QTY | 479,620 | 479,620 |
| MCKESSON CORP 4.750% DUE 5/30/29 250,000.000 QTY | 237,878 | 237,878 |
| MERCK & CO INC 3.400% DUE 3/7/29 250,000.000 QTY | 683,730 | 683,730 |
| METLIFE INC 3.000% DUE 3/1/25 250,000.000 QTY | 717,150 | 717,150 |
| METLIFE INC 4.550% DUE 3/23/30 250,000.000 QTY | 237,183 | 237,183 |
| MICROSOFT CORP 3.125% DUE 11/3/25 250,000.000 QTY | 480,980 | 480,980 |
| MICROSOFT CORP 3.300% DUE 2/6/27 250,000.000 QTY | 237,550 | 237,550 |
| MONSANTO CO 5.500% DUE 8/15/25 250,000.000 QTY | 245,713 | 245,713 |
| NORTHERN TRUST CORP 3.150% DUE 5/3/29 250,000.000 QTY | 219,985 | 219,985 |
| NORTHERN TRUST CORP 3.650% DUE 8/3/28 250,000.000 QTY | 230,528 | 230,528 |
| PEPSICO INC 3.000% DUE 10/15/27 250,000.000 QTY | 461,595 | 461,595 |
| PEPSICO INC 3.600% DUE 3/1/24 250,000.000 QTY | 246,750 | 246,750 |
| PFIZER INC 3.000% DUE 12/15/26 250,000.000 QTY | 233,508 | 233,508 |
| PFIZER INC 3.200% DUE 9/15/23 250,000.000 QTY | 246,373 | 246,373 |
| PFIZER INC 3.450% DUE 3/15/29 250,000.000 QTY | 228,620 | 228,620 |
| PHILIP MORRIS INTL INC 3.125% DUE 8/17/27 250,000.000 QTY | 224,658 | 224,658 |
| PHILIP MORRIS INTL INC 3.250% DUE 11/10/24 250,000.000 QTY | 240,483 | 240,483 |
| PHILIP MORRIS INTL INC 3.600% DUE 11/15/23 250,000.000 QTY | 246,018 | 246,018 |
| PNC BANK NA 3.100% DUE 10/25/27 250,000.000 QTY | 225,870 | 225,870 |
| PNC BANK NA 3.250% DUE 1/22/28 250,000.000 QTY | 225,313 | 225,313 |
| PNC FINANCIAL SERVICES 3.450% DUE 4/23/29 250,000.000 QTY | 219,155 | 219,155 |
| QUEST DIAGNOSTICS INC 2.950% DUE 6/30/30 250,000.000 QTY | 208,743 | 208,743 |
| QUEST DIAGNOSTICS INC 3.450% DUE 6/1/26 250,000.000 QTY | 233,735 | 233,735 |
| QUEST DIAGNOSTICS INC 3.500% DUE 3/30/25 250,000.000 QTY | 239,538 | 239,538 |
| STARBUCKS CORP 2.000% DUE 3/12/27 250,000.000 QTY | 217,868 | 217,868 |
| STARBUCKS CORP 3.550% DUE 8/15/29 250,000.000 QTY | 224,198 | 224,198 |
| STATE STREET CORP 3.100% DUE 5/15/23 250,000.000 QTY | 247,493 | 247,493 |
| STATE STREET CORP DUE 12/3/29 250,000.000 QTY | 229,400 | 229,400 |
| TARGET CORP 2.350% DUE 2/15/30 250,000.000 QTY | 206,588 | 206,588 |
| THERMO FISHER SCIENTIFIC 2.600% DUE 10/1/29 250,000.000 QTY | 214,053 | 214,053 |
| TIME WARNER INC 3.600% DUE 7/15/25 250,000.000 QTY | 231,730 | 231,730 |
| TYCO INTERNATIONAL FINAN 3.900% DUE 2/14/26 250,000.000 QTY | 230,585 | 230,585 |
| UNILEVER CAPITAL CORP 3.500% DUE 3/22/28 250,000.000 QTY | 230,230 | 230,230 |
| UNION PACIFIC CORP 3.250% DUE 8/15/25 250,000.000 QTY | 238,705 | 238,705 |
| UNITED TECHNOLOGIES CORP 3.125% DUE 5/4/27 250,000.000 QTY | 228,293 | 228,293 |
| UNITEDHEALTH GROUP INC 3.750% DUE 7/15/25 250,000.000 QTY | 242,580 | 242,580 |
| UNITEDHEALTH GROUP INC 3.850% DUE 6/15/28 250,000.000 QTY | 232,670 | 232,670 |
| US BANCORP 3.000% DUE 7/30/29 250,000.000 QTY | 210,985 | 210,985 |
| US BANCORP 3.100% DUE 4/27/26 250,000.000 QTY | 231,750 | 231,750 |
| US BANCORP 3.150% DUE 4/27/27 250,000.000 QTY | 229,685 | 229,685 |
| USD THOMSON REUTERS 3.350% DUE 5/15/26 250,000.000 QTY | 232,375 | 232,375 |
| VERIZON COMMUNICATIONS 3.500% DUE 11/1/24 500,000.000 QTY | 484,985 | 484,985 |
| WALGREENS BOOTS ALLIANCE 250,000.000 QTY | 467,990 | 467,990 |
| WALMART INC 3.250% DUE 7/8/29 250,000.000 QTY | 454,595 | 454,595 |
| WALMART INC 3.400% DUE 6/26/23 250,000.000 QTY | 248,163 | 248,163 |
| WALT DISNEY COMPANY/THE 3.000% DUE 2/13/26 250,000.000 QTY | 467,040 | 467,040 |
| WALT DISNEY COMPANY/THE 3.800% DUE 3/22/30 250,000.000 QTY | 227,568 | 227,568 |
| WASTE MANAGEMENT INC 3.150% DUE 11/15/27 250,000.000 QTY | 227,780 | 227,780 |
| WELLS FARGO & COMPANY 3.450% DUE 2/13/23 250,000.000 QTY | 249,023 | 249,023 |
| WELLS FARGO & COMPANY 4.300% DUE 7/22/27 250,000.000 QTY | 233,688 | 233,688 |
| WHIRLPOOL CORP 3.700% DUE 5/1/25 500,000.000 QTY | 481,430 | 481,430 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ADVERUM BIOTECHNOLOGIES (ADVM) 10,000.000 SHS | 8,650 | 8,650 |
| ALPHABET INC SHS CL A (GOOGL) 20,000.000 SHS | 1,890,200 | 1,890,200 |
| AMAZON.COM INC COM (AMZN) 38,400.000 SHS | 3,933,696 | 3,933,696 |
| AT&T INC (T) 13,373.000 SHS | 243,790 | 243,790 |
| AVALONBAY CMMUN INC (AVB) 15,000.000 SHS | 2,626,800 | 2,626,800 |
| CITIGROUP INC (C) 7,307.000 SHS | 335,099 | 335,099 |
| COMCAST CORP-CLASS A (CMCS) 4,175.000 SHS | 163,869 | 163,869 |
| GENERAL MOTORS CO (GM) 9,014.000 SHS | 286,104 | 286,104 |
| INTL BUSINESS MACHINES CORP (IBM) 19,458.000 SHS | 2,690,847 | 2,690,847 |
| INVESCO MORTGAGE CAPITAL (PEG) 10,000.000 SHS | 181,200 | 181,200 |
| JBG SMITH PROPERTIES REG (JBGS) 12,000.000 SHS | 236,160 | 236,160 |
| KEYCORP (KEY) 5,440.000 SHS | 97,213 | 97,213 |
| KYNDRYL HOLDINGS INC (KD) 3,897.000 SHS | 37,626 | 37,626 |
| PUBLIC SERVICE ENTERPRISE GP (PEG) 3,000.000 SHS | 168,210 | 168,210 |
| VERIZON COMMUNICATIONS INC (VZ) 8,222.000 SHS | 307,256 | 307,256 |
| VISA INC CL A SHRS (V) 3,000.000 SHS | 621,480 | 621,480 |
| VODAFONE GROP PLC-SP (VOD) 2,386.000 SHS | 28,179 | 28,179 |
| VORNADO REALTY TRUST COM (VNO) 24,000.000 SHS | 566,160 | 566,160 |
| WARNER BROS DISCOVERY INC (WBD) 3,235.000 SHS | 42,055 | 42,055 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| ALLSTATE CORP PFD 5.100% (ALLPH) 2,000.000 QTY | FMV | 39,300 | 39,300 |
| AT&T INC (TPA) 14,000.000 QTY | FMV | 263,060 | 263,060 |
| AT&T INC (TPC) 5,800.000 QTY | FMV | 100,448 | 100,448 |
| AT&T INC 5.000% PERP SERIES A 20,000.000 QTY | FMV | 375,800 | 375,800 |
| BANK OF AMERICA CORP (BACPB) 15,000.000 QTY | FMV | 357,000 | 357,000 |
| BANK OF AMERICA CORP (BACPO) 7,200.000 QTY | FMV | 125,352 | 125,352 |
| BANK OF AMERICA CORP (BACPP) 2,000.000 QTY | FMV | 32,580 | 32,580 |
| BANK OF AMERICA CORP 5.375 PERP SERIES 10,000.000 QTY | FMV | 214,000 | 214,000 |
| BANK OF AMERICA CORP PFD (BACPM) 15,000.000 QTY | FMV | 321,000 | 321,000 |
| BANK OF AMERICA CORP PFD (BACPN) 9,000.000 QTY | FMV | 179,460 | 179,460 |
| BK OF AMER CORP VAR RT PERP MAT DTD 1/25/22 500,000.000 QTY | FMV | 401,250 | 401,250 |
| BK OF AMER CORP VAR RT PERP MAT DTD 3/15/18 1,250,000.000 QTY | FMV | 1,075,938 | 1,075,938 |
| BLACKROCK CORP HI YLD (HYT) 6,723.000 QTY | FMV | 58,490 | 58,490 |
| BLACKROCK ESG CAP 25,000.000 QTY | FMV | 341,500 | 341,500 |
| CAP ONE FINL CO VAR RT PERP MAT DTD 6/10/21 500,000.000 QTY | FMV | 374,020 | 374,020 |
| CAPITAL ONE FINANCIAL CO (COFPJ) 10,000.000 QTY | FMV | 174,000 | 174,000 |
| CAPITAL ONE FINANCIAL CO (COFPL) 17,550.000 QTY | FMV | 279,045 | 279,045 |
| CAPITAL ONE FINCL CO 4.800% PERP SERIES J 10,000.000 QTY | FMV | 174,000 | 174,000 |
| CHARLES SCHWAB CORP VAR RT PERP MAT DTD 10/31/17 250,000.000 QTY | FMV | 192,500 | 192,500 |
| CITIGROUP INC 47.125% PKF STK PERP 20,000.000 QTY | FMV | 499,200 | 499,200 |
| CITIGROUP INC SR NTS VAR DUE 11/24/27 250,000.000 QTY | FMV | 235,949 | 235,949 |
| CITIGROUP INC VAR RT PERP MAT DTD 1/23/20 500,000.000 QTY | FMV | 401,250 | 401,250 |
| CITIGROUP INC VAR RT PERP MAT DTD 10/27/21 500,000.000 QTY | FMV | 390,548 | 390,548 |
| CITIGROUP INC VAR RT PERP MAT DTD 10/29/12 250,000.000 QTY | FMV | 248,438 | 248,438 |
| CITIGROUP INC VAR RT PERP MAT DTD 4/24/15 500,000.000 QTY | FMV | 452,590 | 452,590 |
| DALLAS-FORT WORTH TX INTL ARPT 2.434% DUE 11/1/28 250,000.000 QTY | FMV | 214,230 | 214,230 |
| DALLAS-FORT WORTH TX INTL ARPT 2.554% DUE 11/1/30 100,000.000 QTY | FMV | 81,886 | 81,886 |
| DUKE ENERGY CORP (DUKPA) 5,000.000 QTY | FMV | 118,150 | 118,150 |
| ENERGY TRANSFER LP (ETPC) 6,000.000 QTY | FMV | 134,400 | 134,400 |
| ENLINK MIDSTREAM PARTNER VAR RT PERP MAT DTD 9/21/17 150,000.000 QTY | FMV | 115,365 | 115,365 |
| FHLMC 1579 CL PM 6.700% DUE 9/15/23 2,500,000.000 QTY | FMV | 2,988 | 2,988 |
| FHLMC 2104 CL Z 6.500% DUE 12/15/28 3,000,000.000 QTY | FMV | 13,105 | 13,105 |
| FHLMC 3393 CL BY 5.500% DUE 11/15/37 200,000.000 QTY | FMV | 11,706 | 11,706 |
| FIDELITY CONS INCOME BOND (FCVNX) 7,682.550 QTY | FMV | 76,595 | 76,595 |
| FIRST REPUBLIC BANK (FRCL) 4,300.000 QTY | FMV | 68,284 | 68,284 |
| FIRST REPUBLIC BANK 4.700% PERP SERIES J 10,000.000 QTY | FMV | 175,700 | 175,700 |
| FIRST REPUBLIC BANK 5.125% PERP SERIES H 10,000.000 QTY | FMV | 195,600 | 195,600 |
| FNMA 1993-255 CL E 7.100% DUE 12/25/23 200,000.000 QTY | FMV | 302 | 302 |
| FNMA 1994-61 CL E 7.500% DUE 4/25/24 50,000.000 QTY | FMV | 58 | 58 |
| FNMA 2007-30 CL KZ 5.000% DUE 4/25/37 900,000.000 QTY | FMV | 462,431 | 462,431 |
| GOLDMAN SACHS GROUP INC SR NTS VAR DUE 11/29/23 500,000.000 QTY | FMV | 501,498 | 501,498 |
| GOLDMAN SACHS GROUP INC VAR RT PERP MAT DTD 10/29/21 500,000.000 QTY | FMV | 392,500 | 392,500 |
| HP ENTERPRISE CO 4.900% DUE 10/15/25 500,000.000 QTY | FMV | 491,422 | 491,422 |
| ISHARES MBS ETF (MBB) 230.000 QTY | FMV | 20,778 | 20,778 |
| ISHARES US TREASURY BOND ETF (GOVT) 3,674.000 QTY | FMV | 82,371 | 82,371 |
| JBG SMITH PROPERTIES (JBGS) 111,738.000 QTY | FMV | 2,199,004 | 2,199,004 |
| JP MORGAN CHASE & CO 4.550% PERP SERIES JJ 10,000.000 QTY | FMV | 182,100 | 182,100 |
| JP MORGAN CHASE & CO 4.625% PERP SERIES LL 20,000.000 QTY | FMV | 370,800 | 370,800 |
| JP MORGAN CHASE & CO VAR RT PERP MAT DTD 7/31/19 110,000.000 QTY | FMV | 101,343 | 101,343 |
| JPM FLOAT RATE INC FD - CL I (JPHSX) 418,313.870 QTY | FMV | 3,476,188 | 3,476,188 |
| JPM INCOME FUND (JMSFX) 7,890.760 QTY | FMV | 64,389 | 64,389 |
| JPM MTGE BACKED SEC (JMBUX) 5,927.770 QTY | FMV | 57,677 | 57,677 |
| JPM SHORT DURATION BD FD - CL I (HLLVX) 59,359.200 QTY | FMV | 615,555 | 615,555 |
| JPM STRAT INC OPP FD - CL I (JSOSX) 124,378.990 QTY | FMV | 1,414,189 | 1,414,189 |
| JPMORGAN CHASE & CO (JPMPK) 13,625.000 QTY | FMV | 248,111 | 248,111 |
| JPMORGAN CHASE & CO PFD (JPMPC) 10,000.000 QTY | FMV | 244,000 | 244,000 |
| JPMORGAN CHASE & CO PFD (JPMPJ) 6,000.000 QTY | FMV | 118,560 | 118,560 |
| JPMORGAN CHASE & CO VAR RT PERP MAT DTD 10/20/17 500,000.000 QTY | FMV | 481,050 | 481,050 |
| JPMORGAN CHASE & CO VAR RT PERP MAT DTD 4/23/13 65,000.000 QTY | FMV | 63,375 | 63,375 |
| JPMORGAN CHASE & CO VAR RT PERP MAT DTD 7/29/13 355,000.000 QTY | FMV | 349,675 | 349,675 |
| JPMORGAN ULTRA-SHORT INCOME (JPST) 2,674.000 QTY | FMV | 133,941 | 133,941 |
| KEYCORP VAR RT PERP MAT DTD 9/9/16 250,000.000 QTY | FMV | 218,963 | 218,963 |
| M&T BK CORP VAR RT PERP MAT DTD 10/28/16 100,000.000 QTY | FMV | 87,168 | 87,168 |
| METLIFE INC 4.750% PERP SERIES F 10,000.000 QTY | FMV | 196,600 | 196,600 |
| METLIFE INC VAR RT PERP MAT DTD 9/10/20 500,000.000 QTY | FMV | 439,369 | 439,369 |
| MICROSOFT CORP SR NTS 4.200% DUE 11/3/25 250,000.000 QTY | FMV | 232,677 | 232,677 |
| MNSTY MCKY H/Y CORP BOND (MHYSX) 22,941.160 QTY | FMV | 111,723 | 111,723 |
| MORGAN STANLEY VAR RT PERP MAT DTD 10/2/20 500,000.000 QTY | FMV | 481,687 | 481,687 |
| NUVEEN PREFERRED SECURITY (NPSFX) 3,749.396 QTY | FMV | 55,566 | 55,566 |
| PGIM SHORT DUR HI YLD INC (HYSQX) 6,979.270 QTY | FMV | 56,113 | 56,113 |
| PIMCO MRTG OPP & BOND (PMZIX) 8,667.323 QTY | FMV | 82,513 | 82,513 |
| PNC FINL SERVICES VAR RT PERP MAT DTD 11/1/16 100,000.000 QTY | FMV | 85,622 | 85,622 |
| PNC FINL SERVICES VAR RT PERP MAT DTD 8/19/22 250,000.000 QTY | FMV | 236,800 | 236,800 |
| REGIONS FINANCIAL CORP - PFD (RFPB) 10,000.000 QTY | FMV | 247,000 | 247,000 |
| SCHWAB INTERMEDIATE TERM US (SCHR) 1,018.000 QTY | FMV | 49,556 | 49,556 |
| SOUTHERN CO 4.200% DUES 10/15/60 20,000.000 QTY | FMV | 357,000 | 357,000 |
| STATE OF ISRAEL BOND - 10TH JUBILEE FIX 10Y 3.500% DUE 12/1/26 | FMV | 250,000 | 250,000 |
| STATE OF ISRAEL BOND - 12TH JUBILEE FIX 5Y 1.830% DUE 12/1/26 | FMV | 195,000 | 195,000 |
| STATE OF ISRAEL BOND - 12TH JUBILEE FIX 5Y 2.730% DUE 4/1/27 | FMV | 565,000 | 565,000 |
| TEVA PHARMACEUT FIN BV 250,000.000 QTY | FMV | 247,500 | 247,500 |
| TIME WARNER INC 6.950% DUE 1/15/28 200,000.000 QTY | FMV | 202,684 | 202,684 |
| TRUIST FIN CORP VAR RT PERP MAT DTD 12/9/19 250,000.000 QTY | FMV | 242,500 | 242,500 |
| TRUIST FINL CORP VAR RT PERP MAT DTD 7/19/19 250,000.000 QTY | FMV | 224,438 | 224,438 |
| URBAN EDGE PROPERTIES (UE) 87,631.000 QTY | FMV | 1,237,350 | 1,237,350 |
| US BANCORP 3.750% PERP SERIES L 20,000.000 QTY | FMV | 302,600 | 302,600 |
| VANGUARD I/T INVEST GRD (VFIDX) 7,373.720 QTY | FMV | 59,358 | 59,358 |
| VANGUARD S/T CORP BOND (VCSH) 521.000 QTY | FMV | 38,549 | 38,549 |
| VORNADO REALTY TRUST (VNO) 223,477.000 QTY | FMV | 5,271,822 | 5,271,822 |
| VORNADO REALTY TRUST 5.250% PERP SERIES M 5,000.000 QTY | FMV | 80,100 | 80,100 |
| VOYA FINL INC VAR RT PERP MAT DTD 9/12/18 250,000.000 QTY | FMV | 243,750 | 243,750 |
| WELLS FARGO & COMPANY (WFCPQ) 13,000.000 QTY | FMV | 295,750 | 295,750 |
| WELLS FARGO & COMPANY (WFCPZ) 10,000.000 QTY | FMV | 180,000 | 180,000 |
| WELLS FARGO COMPANY 5.850% PERP SERIES 20,000.000 QTY | FMV | 455,000 | 455,000 |
| WISDOMTREE TR FLOATING RATE TREA (USFR) 3,947.000 QTY | FMV | 198,376 | 198,376 |
| WSTRN MN MUNI PWR ABY 2.545% DUE 1/1/28 500,000.000 QTY | FMV | 441,390 | 441,390 |
| Description | Amount |
|---|---|
| UNREALIZED LOSS ON INVESTMENTS | 20,523,228 |
| ADJUSTMENT TO OPENING BALANCE TO REFLECT LINE OF CREDIT LOAN PAYABLE | 6,750,044 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BANK FEES | 252 | 252 | 0 | |
| BUSINESS REGISTRATION FEES | 31 | 0 | 31 | |
| OFFICE EXPENSES | 163 | 0 | 163 | |
| ADMINISTRATIVE FEES | 13,529 | 0 | 13,529 | |
| INSURANCE | 668 | 0 | 668 | |
| DUES AND SUBSCRIPTIONS | 567 | 0 | 567 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| STATE OF ISRAEL BONDS - OTHER INCOME | 14,591 | 14,591 | 14,591 |
| PARTNERSHIP INCOME | 15,562 | 20,063 | 15,562 |
| REFUNDED AMOUNT FROM NONPROFIT FINANCE FUND | 3,162,000 | 3,162,000 | |
| RESCINDED GRANTS | 105,400 | 105,400 |
| Description | Amount |
|---|---|
| TO CORRECT OPENING NET ASSET BALANCE TO AGREE TO FAIR MARKET VALUE | 13,203,092 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| LOAN PAYABLE | 0 | 652,939 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PHILANTHROPIC CONSULTING | 400,000 | 0 | 400,000 | |
| COMMUNICATIONS CONSULTING | 90,000 | 0 | 90,000 | |
| INVESTMENT CONSULTING FEES | 36,000 | 36,000 | 0 | |
| INVESTMENT MANAGEMENT FEES | 3,643 | 3,643 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL EXCISE TAX | 102,500 | 0 | 0 |