| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| MARKETABLE SECURITIES | AT COST | 11,836,996 | 55,294,251 |
| BONDS | AT COST | 5,586,802 | 5,580,063 |
| INVESTMENT IN FENGHUANG | AT COST | 665,898 | 665,898 |
| INVESTMENT IN SPF | AT COST | 8,449,760 | 8,449,760 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PASSTHROUGH EXPENSES | 154,225 | 154,225 | 0 | |
| OTHER EXPENSES | 905 | 905 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| SPF INVESTMENTS | 115,052 | 115,052 | 115,052 |
| FENGHUANG INVESTMENTS | -4,138 | -4,138 | -4,138 |
| SPF INVESTMENTS | -9,080 | -9,080 | |
| FENGHUANG INVESTMENTS | -158 | -158 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL EXCISE TAX | 57,988 | 0 | 0 | |
| FOREIGN TAX | 2,036 | 2,036 | 0 |