| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 2,800 | 0 | 0 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 17,244.3630 SHS VANGUARD TOTAL STOCK MARKET INDEX FUND INSTITUTIONAL | 2,386,071 | 2,432,317 |
| 20,512.542 SHS VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND ADMIRAL | 682,839 | 650,043 |
| 3,198.56 SHS VANGUARD INTERNATIONAL GROWTH FUND ADMIRAL | 364,502 | 324,878 |
| 8,584.2060 SHS VANGUARD INTERNATIONAL VALUE FUND | 362,089 | 322,509 |
| 56,295.802 SHS VANGUARD TOTAL BOND MARKET INDEX FUND ADMIRAL | 538,944 | 533,684 |
| 20,855.291 SHS VANGUARD SHORT-TERM INVESTMENT-GRADE FUND ADMIRAL | 215,216 | 215,018 |
| 24,990.684 SHS VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND ADMIRAL | 215,809 | 213,920 |
| 13,975.327 SHS VANGUARD LONG-TERM INVESTMENT-GRADE FUND ADMIRAL | 108,397 | 105,234 |
| 13,668.894 SHS VANGUARD TOTAL INTERNATIONAL BOND INDEX ADMIRAL | 271,748 | 268,320 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| SCHOLARSHIP RECIPIENT FEE | 24,000 | 0 | 24,000 | |
| MANAGEMENT FEE | 56,000 | 0 | 56,000 | |
| INVESTMENT MANAGEMENT FEE | 6,978 | 6,978 | 0 | |
| OFFICE SUPPLIES | 543 | 0 | 0 | |
| SOFTWARE EXPENSES | 1,125 | 0 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MICHIGAN ANNUAL REPORT | 20 | 0 | 0 | |
| FEDERAL TAX PAYMENTS | 11,257 | 0 | 0 | |
| FOREIGN TAX EXPENSE | 0 | 2,183 | 0 |