| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ALTRIA GROUP INC - 5.250% - 08 | 101,743 | 101,422 |
| AMERICAN ELEC PWR INC SER J NO | 100,403 | 100,748 |
| BANK AMER CORP - 4.450% - 03/0 | 401,688 | 400,290 |
| BOEING CO - 5.705% - 05/01/204 | 100,416 | 107,460 |
| CAPITAL ONE FINL - 3.750% - 07 | 98,138 | 99,796 |
| CBS CORP - 4.000% - 01/15/2026 | 195,406 | 199,947 |
| CNA FINANCIAL CORP - 5.200% - | 151,232 | 151,086 |
| CVS HEALTH CORP - 6.000% - 06/ | 98,463 | 100,816 |
| DOMINION ENERGY INC SER B NOTE | 96,162 | 100,362 |
| DOWDUPONT INC - 4.725% - 11/15 | 103,328 | 101,591 |
| EDISON INTL - 4.125% - 03/15/2 | 47,011 | 49,428 |
| GENERAL MTRS FINL CO - 4.000% | 49,675 | 49,980 |
| GLOBAL PMTS INC - 5.300% - 08/ | 50,081 | 51,180 |
| HELMERICH PAYNE - 5.000% - 10/ | 99,704 | 99,338 |
| HUMANA INC NOTE - 4.875% - 04/ | 177,487 | 182,646 |
| HUMANA INC NOTE - 4.950% - 10/ | 105,022 | 106,264 |
| INTEL CORP - 4.800% - 10/01/20 | 105,342 | 106,693 |
| JEFFERIES FINANCIAL GROUP - 6. | 104,877 | 104,147 |
| JPMORGAN CHASE & CO - 5.000% - | 298,349 | 296,581 |
| KEURIG DR PEPPER INC - 5.150% | 100,543 | 100,409 |
| KROGER CO NOTE CALL MAKE WHOLE | 239,275 | 249,828 |
| MICRON TECHNOLOGY INC - 5.327% | 49,878 | 51,585 |
| MORGAN STANLEY - 4.350% - 09/0 | 151,314 | 150,263 |
| MYLAN NV - 3.950% - 06/15/2026 | 36,076 | 39,910 |
| ORACLE CORP NOTE - 3.250% - 11 | 95,338 | 97,827 |
| PHILIP MORRIS INTL INC NOTE - | 143,786 | 148,423 |
| TIME WARNER INC - 3.875% - 01/ | 194,298 | 199,500 |
| VERIZON COMMS - 4.329% - 09/21 | 96,991 | 100,851 |
| WELLS FARGO CO - 4.100% - 06/0 | 217,298 | 220,024 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 3M CO | 115,853 | 160,100 |
| ABBVIE INC | 197,289 | 456,980 |
| ADVANCED MICRO DEVICES INC | 305,013 | 513,984 |
| AES CORP | 104,596 | 78,870 |
| AIR PRODS & CHEM INC | 345,879 | 321,126 |
| ALEXANDRIA REAL ESTATE EQUITIE | 323,046 | 176,184 |
| ALPHABET INC CL C | 435,738 | 1,898,489 |
| AMAZON COM | 554,600 | 1,107,936 |
| AMERICAN BEACON SOUND POINT FL | 410,869 | 312,913 |
| AMERICAN ELECTRIC POWER INC | 116,311 | 149,903 |
| AMERICAN FDS, AMERICAN HIGH IN | 257,928 | 247,592 |
| AMERICAN FUNDS BALANCED PORT C | 1,128,623 | 1,440,712 |
| AMERICAN FUNDS GLOBAL GROWTH P | 392,804 | 571,748 |
| AMERICAN FUNDS GROWTH PORTFOLI | 425,474 | 635,345 |
| APPLE INC | 417,074 | 1,522,416 |
| ASML HOLDING NV NY REG SHS | 154,101 | 213,972 |
| AT&T, INC | 195,708 | 194,497 |
| AUTODESK, INC | 296,437 | 304,890 |
| BANK OF AMERICA CORP | 595,453 | 921,250 |
| BERKSHIRE HATHAWAY INC. CLASS | 320,736 | 376,988 |
| BOEING CO | 489,248 | 434,240 |
| BP PLC SPONSORED ADR | 182,471 | 156,285 |
| CHEVRON CORP | 501,300 | 540,293 |
| CISCO SYSTEMS INC | 448,552 | 770,300 |
| CITIGROUP INC | 304,770 | 583,450 |
| CITIZENS FINANCIAL GROUP, INC | 117,059 | 157,707 |
| CONAGRA FOODS INC | 166,131 | 86,550 |
| CONOCOPHILLIPS | 89,145 | 93,610 |
| CROWN CASTLE INTL | 148,639 | 88,870 |
| CSX CORP | 220,254 | 246,500 |
| DELL TECHNOLOGIES INC CLASS C | 223,073 | 251,760 |
| DOMINION ENERGY INC | 189,724 | 190,418 |
| DOW INC | 485,852 | 217,434 |
| DU PONT DE NEMOURS | 97,743 | 123,977 |
| DUKE ENERGY CO | 121,152 | 164,094 |
| EATON CORP PLC | 156,980 | 168,810 |
| EMERSON ELECTRIC CO | 303,277 | 384,888 |
| EVERSOURCE ENERGYINC | 146,592 | 161,592 |
| EXXON MOBIL CORP | 646,662 | 896,533 |
| FIDELITY ADVISOR REAL ESTATE I | 322,240 | 315,960 |
| FRANKLIN FTSE INDIA ETF | 100,584 | 125,418 |
| FRANKLIN RES INC | 207,556 | 238,900 |
| GOLDMAN SACHS GROUP | 133,723 | 439,500 |
| GSK PLC | 140,317 | 154,966 |
| HONEYWELL INTL | 250,626 | 323,849 |
| ILLINOIS TOOL WORKS | 50,257 | 78,816 |
| INTEL CORP | 815,505 | 590,400 |
| JOHNSON & JOHNSON | 986,320 | 1,303,785 |
| JP MORGAN CHASE | 526,373 | 1,256,658 |
| KINDER MORGAN INC | 363,840 | 514,063 |
| KRAFT HEINZ CO | 69,430 | 48,500 |
| LOCKHEED MARTIN CORP | 211,325 | 241,835 |
| MCDONALD'S CORP | 1,993,731 | 3,655,334 |
| MEDTRONIC PLC | 534,459 | 547,542 |
| MERCK & CO INC | 436,881 | 568,404 |
| META PLATFORMS INC | 166,453 | 198,027 |
| MICROSOFT CORP | 628,197 | 1,354,136 |
| MORGAN STANLEY | 269,458 | 710,120 |
| MORGAN STANLEY DIRECT LENDING | 51,000 | 49,440 |
| NEUBERGER BERMAN MID CAP GROWT | 32,811 | 24,159 |
| NEW WORLD FUND, INC (F2) | 139,844 | 193,426 |
| NEXTERA ENERGY, INC | 191,489 | 212,742 |
| PALO ALTO NETWORKS INC | 190,645 | 386,820 |
| PEPSICO INC | 358,060 | 374,587 |
| PFIZER INC | 681,744 | 410,850 |
| PPL CORPORATION | 135,630 | 157,590 |
| PROCTER GAMBLE CO | 530,399 | 807,552 |
| QNITY ELECTRONICS INC | 113,725 | 125,904 |
| QUALCOMM INC | 259,750 | 342,100 |
| RAYTHEON TECHNOLOGIES CORP | 487,699 | 1,100,400 |
| SOLSTICE ADVANCED MATERIALS IN | 61,044 | 20,161 |
| THE WENDY'S CO | 50,243 | 45,815 |
| TOTALENERGIES SE | 205,856 | 243,690 |
| TRUIST FINANCIAL CORPORATION | 555,137 | 664,335 |
| UNITED PARCEL SERVICE | 390,072 | 228,137 |
| UNITEDHEALTH GROUP INC | 79,473 | 82,528 |
| US BANCORP | 112,670 | 106,720 |
| VANGUARD FTSE EUROPEAN ETF | 255,910 | 342,801 |
| VERIZON COMMUNICATIONS | 490,674 | 366,570 |
| VISA INC | 516,381 | 929,382 |
| W. P. CAREY INC | 269,048 | 241,350 |
| WAL-MART STORES INC | 797,155 | 1,838,265 |
| WELLS FARGO & CO | 484,532 | 745,600 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Administrative Fees | 41,231 | 41,231 | ||
| Bank Charges | 402 | 402 | ||
| Indemnification Insurance | 1,727 | 1,727 | ||
| Postage/Delivery Service | 149 | 11 | 138 | |
| State or Local Filing Fees | 25 | 25 | ||
| Website Hosting/Support | 813 | 813 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment Management Services | 271,752 | 271,752 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 990-PF Estimated Tax for 2025 | 11,100 | |||
| 990-PF Excise Tax for 2024 | 26,779 | |||
| Foreign Tax Paid | 3,181 | 3,181 |