| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ALGER FOCUS EQUITY | 54,282 | 54,282 |
| BRANDES INTL SMALL CAP EQUITY | 45,076 | 45,076 |
| CALAMOS TIMPANI SMALL CAP | 31,253 | 31,253 |
| NEEDHAM AGGRESSIVE GROWTH INSTL | 21,311 | 21,311 |
| STEWARD VALUES ENHANCED INTL INSTL | 29,312 | 29,312 |
| VIRTUSSILVANT MID CAP GROWTH | 20,793 | 20,793 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| M & T TRUST COMPANY CASH | FMV | 5,745 | 5,745 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Tax preparation fees | 775 | 0 | 0 |
| Description | Amount |
|---|---|
| INVESTMENT VALUE INCREASE - UNREALIZED GAIN | 4,160 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment Management Fees | 193 | 0 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Excise tax | 297 | 0 | 0 | |
| Foreign tax | 27 | 0 | 0 |