| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 143,895 | 59,842 | 84,053 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 1705387.025 SHS BLACKROCK ADVANTAGE COREALPHA BOND FUND CLASS I | 14,802,759 | 14,802,759 |
| 420309 SHS ISHARES TRUST ISHARES 1-5 YEAR INVESTMENT GRADE CORPORATE BOND E | 22,175,503 | 22,175,503 |
| 1730605.952 SHS EATON VANCE INCOME FUND OF BOSTON I | 9,102,987 | 9,102,987 |
| 942568.143 SHS FEDERATED HERMES INSTITUTIONAL HIGH YIELD BOND FUND INSTITUT | 8,511,390 | 8,511,390 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 2137285.73 SHS GS FS TRSY SOLUTIONS MM FUND MUTUAL FUND | 2,137,286 | 2,137,286 |
| 152041 SHS VANGUARD INDEX FUNDS VANGUARD TOTAL STK MKT ETF ETF ON CRSPTMT | 43,410,810 | 43,410,810 |
| 84919.094 SHS ISHARES S&P 500 INDEX FUND CLASS G | 61,640,223 | 61,640,223 |
| 191315.918 SHS ISHARES RUSSELL 2000 SMALL-CAP INDEX FUND K SHARES | 4,603,061 | 4,603,061 |
| 304181.746 SHS CAUSEWAY INTERNATIONAL VALUE I MUTUAL FUND CLASS INST SHARES | 6,841,047 | 6,841,047 |
| 111952.165 SHS DODGE & COX INTERNATIONAL STOCK FUND | 6,836,919 | 6,836,919 |
| 364126.652 SHS WILLIAM BLAIR INTERNATIONAL LEADERS FUND CLASS I | 8,185,567 | 8,185,567 |
| 37747.08 SHS STATE STREET EMERGING MARKETS EQUITY INDEX FUND K CLASS | 2,797,436 | 2,797,436 |
| 234156.777 SHS GS GQG PARTNERS INTERNATIONAL OPPORTUNITIES FUND CLASS P | 5,301,309 | 5,301,309 |
| GLOBAL TACTICAL TRADING MANAGERS PLC TRANCHE M SERIES 1 | 13,201,531 | 13,201,531 |
| TACTICAL TRADING MANAGERS (MANAGED FUTURES) LTD CLASS D SERIES 1 | 3,014,570 | 3,014,570 |
| VINTAGE IX B OFFSHORE SCSP | 3,879,422 | 3,879,422 |
| BLACK EQUITY OPPORTUNITIES OFFSHORE LP | 218,471 | 218,471 |
| LAUNCH OPPORTUNITIES OFFSHORE SCSP SCSP | 1,695,240 | 1,695,240 |
| PRIVATE EQUITY MANAGERS (2021) OFFSHORE SCSP | 2,721,926 | 2,721,926 |
| E&F PRIVATE EQUITY MANAGERS (2022) OFFSHORE LP | 1,331,585 | 1,331,585 |
| E&F PRIVATE EQUITY MANAGERS (2023) OFFSHORE LP | 83,969 | 83,969 |
| PRIVATE CREDIT MANAGERS IV OFFSHORE LP | 2,843,549 | 2,843,549 |
| PRIVATE CREDIT MANAGERS (2023) OFFSHORE LP | 219,221 | 219,221 |
| PRIVATE CREDIT MANAGERS (2024) OFFSHORE LP | 6,072 | 6,072 |
| E&F PRIVATE EQUITY MANAGERS (2025) OFFSHORE LP | 6,581 | 6,581 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| WSU | FMV | 86 | 86 |
| LUCENT | FMV | 42,000 | 42,000 |
| ARCH VII | FMV | 1,400,021 | 1,400,021 |
| AI2 FUND II | FMV | 813,011 | 813,011 |
| INTRINSIC | FMV | 293,678 | 293,678 |
| ARZEDA | FMV | 1,850,750 | 1,850,750 |
| TRANSFORMAT | FMV | 768,460 | 768,460 |
| FARADAY PHA | FMV | 1,988,151 | 1,988,151 |
| CYRUS BIOTE | FMV | 2,230,075 | 2,230,075 |
| WIBOTIC | FMV | 588,665 | 588,665 |
| TWINSTRAND | FMV | 387,014 | 387,014 |
| GROUP14 | FMV | 57,807,053 | 57,807,053 |
| OLIS | FMV | 54,067 | 54,067 |
| PRONIRAS CO | FMV | 746,797 | 746,797 |
| PHASE GENOMICS | FMV | 1,179,223 | 1,179,223 |
| ABACUS BIOS | FMV | 2,653,069 | 2,653,069 |
| ADAPTX | FMV | 1,663,720 | 1,663,720 |
| LIGHTSPEED | FMV | 769,050 | 769,050 |
| A-ALPHA BIO | FMV | 499,991 | 499,991 |
| MEMBRION, I | FMV | 85,949 | 85,949 |
| THRUWAVE | FMV | 500,000 | 500,000 |
| UMOJA BIOPH | FMV | 1,824,791 | 1,824,791 |
| SENGINE PHA | FMV | 2,052,055 | 2,052,055 |
| BLUEDOT PHO | FMV | 128,589 | 128,589 |
| OUTPACE BIO | FMV | 694,634 | 694,634 |
| WAVELY DIAG | FMV | 835,020 | 835,020 |
| 2MORROW | FMV | 450,000 | 450,000 |
| WATERSHED | FMV | 384,831 | 384,831 |
| BIRCH.AI | FMV | 50,000 | 50,000 |
| MOPAC BIO | FMV | 800,000 | 800,000 |
| VILYA | FMV | 2,175,000 | 2,175,000 |
| MONOD BIO | FMV | 528,269 | 528,269 |
| TUNE THERAPEUTICS | FMV | 400,000 | 400,000 |
| ARCHON | FMV | 1,234,999 | 1,234,999 |
| KAYOTHERA | FMV | 499,999 | 499,999 |
| LILA BIO | FMV | 2,000,000 | 2,000,000 |
| ORION MED | FMV | 1,000,000 | 1,000,000 |
| MPATHIC | FMV | 613,011 | 613,011 |
| A-ALPHA BIO | FMV | 1,084,818 | 1,084,818 |
| MEDCURITY | FMV | 200,000 | 200,000 |
| ACCIPITER | FMV | 300,000 | 300,000 |
| TALUS BIO | FMV | 1,000,000 | 1,000,000 |
| NEUROGRAFIX | FMV | 50,000 | 50,000 |
| TEACHTOWN | FMV | 1,812 | 1,812 |
| MODUMETAL | FMV | 912,877 | 912,877 |
| CARDIAC INS | FMV | 944,349 | 944,349 |
| SWEETLABS | FMV | 500,000 | 500,000 |
| RESOLVE THE | FMV | 1,733,000 | 1,733,000 |
| STASYS MEDI | FMV | 200,776 | 200,776 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| EQUIPMENT | 91,067 | 76,122 | 14,945 | 14,945 |
| LEASEHOLD IMPROVEMENTS | 89,023 | 55,640 | 33,383 | 33,383 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 399,263 | 132,764 | 236,389 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| OPERATING LEASE RIGHT-OF-USE ASSET | 1,184,259 | 647,033 | 647,033 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INSURANCE | 57,401 | 23,872 | 33,529 | |
| VENTURE CENTER | 320,838 | 185,155 | 135,683 | |
| OFFICE EQUIPMENT & COMMUNICATIONS | 57,593 | 23,951 | 33,642 | |
| OFFICE SUPPLIES | 24,528 | 10,201 | 25,151 | |
| BANK FEES | 2,658 | 1,105 | 1,553 | |
| FACILITATION & PROGRAM DEVELOPMENT | 5,000 | 0 | 5,000 | |
| REFERENCE MATERIALS | 72,384 | 30,103 | 42,281 | |
| EQUITY PARTNERSHIPS | 0 | 24,534 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| REIMBURSEMENTS | 318 | 318 | |
| RETURNED GRANTS | 52,970 | 52,970 |
| Description | Amount |
|---|---|
| UNREALIZED GAINS ON INVESTMENTS | 7,169,793 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| OPERATING LEASE LIABILITY | 1,508,975 | 968,815 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 544,078 | 544,078 | 0 | |
| OTHER PROFESSIONAL FEES | 292,183 | 55,343 | 236,840 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXCISE TAXES | 129,423 | 0 | 0 | |
| FOREIGN TAXES | 25,996 | 25,996 | 0 | |
| OTHER TAXES | 186 | 77 | 103 |