| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| TELEFONICA SA SPONSORED ADR | 544,850 | 113,672 |
| VALLEY NATL BANCORP | 700,806 | 624,015 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| LEM MULTIFAMILY FUND V, LP | AT COST | 1,191,336 | 1,356,079 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| GENERAL GOVERNANCE AND COUNSEL | 66 | 0 | 66 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT EXPENSES | 1,010 | 1,010 | 0 | |
| SCHEDULE K-1 EXPENSES | 6,809 | 6,809 | 0 | |
| SOFTWARE EXPENSES | 334 | 0 | 334 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL EXCISE TAX | 5,000 | 0 | 0 | |
| FOREIGN TAX | 1,652 | 1,652 | 0 |