| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Professional fees - accounting | 28,150 | 28,150 | 0 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| All State Corp (OP) | 65,003 | 65,316 |
| Kinder Morgan Inc (OP) | 48,181 | 48,036 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| Adobe Systems Inc (Equity) | 4,429 | 4,002 |
| Agnico Eagle Mines Limited (OP) | 106,282 | 151,727 |
| Agnico Eagle Mines Limited (WC) | 50,163 | 72,501 |
| Alphabet Inc (Equity) | 6,754 | 11,998 |
| ALPS Alerian MLP ETF (OP) | 154,109 | 155,075 |
| Anglogold Ashanti Ltd (WC) | 16,378 | 18,926 |
| Apple Inc (Equity) | 2,935 | 5,259 |
| Centene Corp Del (Equity) | 2,374 | 2,120 |
| Elevance Health Inc (Equity) | 2,072 | 1,845 |
| Entergy Corp (Equity) | 813 | 1,213 |
| GSK PLC (Equity) | 2,194 | 2,164 |
| iShares Gold Trust ETF (Equity) | 8,339 | 12,130 |
| iShares Gold Trust ETF (FI) | 8,585 | 12,427 |
| iShares Gold Trust ETF (OP) | 147,713 | 214,378 |
| Johnson & Johnson (Equity) | 2,238 | 2,169 |
| JP Morgan Chase Pfd 5.75% (Equity) | 5,621 | 5,537 |
| Kimberly Clark Corp (Equity) | 2,266 | 2,490 |
| Lowe's Companies (Equity) | 3,211 | 4,196 |
| Mastercard Inc (Equity) | 5,817 | 8,425 |
| McDonald's Corporation (Equity) | 2,225 | 2,609 |
| Microsoft Corp (Equity) | 7,909 | 11,802 |
| Moodys Corp (Equity) | 5,323 | 7,101 |
| Newmont Corp (WC) | 52,644 | 33,498 |
| O'Reily Automotive Inc (Equity) | 2,632 | 7,115 |
| Plains GP Holdings LP (OP) | 33,448 | 62,180 |
| Roche Holding AG ADR (Equity) | 2,324 | 2,432 |
| Royal Gold Inc (Equity) | 2,270 | 2,769 |
| Royal Gold Inc (OP) | 98,293 | 118,006 |
| Royal Gold Inc (WC) | 40,857 | 46,939 |
| Sanofi (Equity) | 2,239 | 2,363 |
| Servicenow Inc (Equity) | 2,798 | 5,301 |
| The Cigna Group (Equity) | 2,306 | 2,485 |
| Unilever PLC ADR (Equity) | 2,288 | 2,722 |
| Visa Inc (Equity) | 5,267 | 7,269 |
| Wells Fargo & Co 7.5% pref con (Equity) | 2,381 | 2,389 |
| Wells Fargo & Co 7.5% pref con (OP) | 73,698 | 63,298 |
| Wheaton Precious Metals Corp (WC) | 14,954 | 19,403 |
| Expedia Inc (equity) | 2,142 | 3,168 |
| Colgate-Palmolive Co (equity) | 1,178 | 1,182 |
| Cheniere Energy (equity) | 1,874 | 2,578 |
| ConocoPhillips (equity) | 1,199 | 1,091 |
| EOG Resources Inc (equity) | 2,319 | 2,452 |
| Exxon Mobil Corporation (equity) | 2,380 | 2,259 |
| Suncor Energy Inc (equity) | 1,825 | 1,641 |
| Williams Companies (equity) | 2,321 | 3,680 |
| Arch Capital Group (equity) | 1,928 | 1,847 |
| AstraZeneca PLC (equity) | 1,214 | 1,114 |
| Gilead Sciences Inc (equity) | 2,455 | 3,233 |
| McKesson Corporation (equity) | 966 | 1,140 |
| Molina Healthcare (equity) | 1,039 | 873 |
| Novartis AG (equity) | 1,154 | 1,168 |
| Resmed Inc (equity) | 1,273 | 1,372 |
| Universal Health Services Inc (equity) | 1,284 | 1,076 |
| Zoetis Inc (equity) | 1,955 | 1,792 |
| Masco Corp (equity) | 1,172 | 1,234 |
| Verisign Inc (equity) | 1,258 | 1,449 |
| Corteva Inc (equity) | 1,253 | 1,196 |
| Wheaton Precious Metals Corp (equity) | 1,250 | 1,181 |
| American Electric Power Co Inc (equity) | 1,289 | 1,291 |
| Edison International (equity) | 1,153 | 1,198 |
| Envergy Inc (equity) | 1,220 | 1,231 |
| NextEra Energy Inc (equity) | 1,254 | 1,219 |
| Boeing Co (OP) | 145,167 | 160,567 |
| Antero Resources Corp (OP) | 40,531 | 49,841 |
| ConocoPhillips (OP) | 65,458 | 58,312 |
| Northern Oil & Gas (OP) | 48,193 | 45,781 |
| iShares Silver Trust ETF (OP) | 94,472 | 98,079 |
| Lyondelbasell Industries (OP) | 64,536 | 63,130 |
| Mosaic (OP) | 64,141 | 60,786 |
| Newmont Corporaton (OP) | 66,057 | 64,130 |
| Nutrien Ltd (OP) | 66,323 | 63,814 |
| Pan American Silver Corp (OP) | 48,875 | 38,903 |
| Rio Tinto PLC (OP) | 47,194 | 41,755 |
| Healthpeak Properties Inc (OP) | 94,968 | 90,141 |
| Viei Properties Inc (OP) | 49,233 | 44,487 |
| UGI Corp (OP) | 65,031 | 73,448 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| Gold (held in-kind) | FMV | 166,995 | 260,910 |
| Land Lease | FMV | 1 | 66,749 |
| Partnership interest - Enterprise Products (OP) | FMV | 36,447 | 601,642 |
| Partnership interest - MLG 1099 Dividend IV Fund LLC | AT COST | 137,113 | 200,000 |
| Partnership interest - MLG Dividend Fund V LLC | AT COST | 107,159 | 125,000 |
| Partnership interest - North Shore Plaza | AT COST | 49,649 | 100,000 |
| Partnership interest - North Shore Plaza (note receivable) | AT COST | 100,000 | 100,000 |
| Partnership interst - MPLX LP (OP) | FMV | 159,275 | 271,127 |
| Partnership interest - MT EBO Associates LLC | FMV | 0 | 176,056 |
| Partnership interest - Brigham Royalities | AT COST | 229,656 | 224,966 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| Prepaid federal and state taxes | 4,533 | 18,137 | 18,137 |
| Proceeds receivable from the sale of SA Ignite | 0 | 240,808 | 240,808 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Insurance - employee health | 5,144 | 1,029 | 4,115 | |
| Insurance - general | 2,671 | 2,671 | 0 | |
| Telephone and internet expenses | 1,380 | 1,380 | 0 | |
| Dues and subscriptions | 958 | 958 | 0 | |
| Office expenses | 4,169 | 4,169 | 0 | |
| Ordinary loss - from Enterprise Products Partners LP partnership | 30,473 | 0 | 0 | |
| Ordinary loss - from MPLX LP partnership | 10,666 | 0 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| From partnership - Brigham Royalities (other income) | 3 | 3 | 3 |
| royalities net of expenses) | 4,393 | 4,393 | 4,393 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| Partnership interest - Mt EBO 22 Associates LLC | 24,632 | 23,896 |
| Federal income taxes payable | 6,139 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Professional fees - investment advisory | 36,947 | 36,947 | 0 | |
| Professional fees - payroll report preparation | 2,779 | 2,779 | 0 | |
| Professional fees - contract labor | 1,000 | 1,000 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Taxes - unrelated business income tax | 1,092 | 0 | 0 | |
| Taxes - excise tax | 5,166 | 0 | 0 | |
| Taxes - state income tax | 555 | 0 | 0 | |
| Taxes - payroll tax | 8,878 | 1,776 | 7,102 | |
| Taxes - foreign tax withheld | 1,420 | 1,420 | 0 |