| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES - CLIFTONLARSONALLEN | 10,100 | 5,050 | 5,050 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| MCDONALD'S CORP | 608,787 | 597,480 |
| WELLS FARGO & COMPANY | 607,608 | 598,314 |
| CSX CORP | 346,693 | 342,482 |
| UNITEDHEALTH GROUP INC | 604,440 | 599,796 |
| AON CORP/AAON GLOBAL HOLDINGS PLC | 729,855 | 730,898 |
| BOFA FINANCE LLC ZERO COUPON 03/15/2027 | 500,000 | 490,150 |
| GENERAL DYNAMICS CORP | 299,253 | 291,876 |
| PEPSICO | 399,102 | 392,032 |
| ARCHER-DANIELS-MIDLAND C | 347,141 | 343,756 |
| 1WS CREDIT INCOME FUND I | 1,699,704 | 1,768,597 |
| BOFA FINANCE LLC 0.000 03/17/2028 | 500,000 | 489,250 |
| UBS AG LONDON | 500,000 | 463,250 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| RTX CORP | 311,897 | 464,928 |
| ROPER TECHNOLOGIES INC COM | 324,187 | 443,836 |
| ROLLINS INC | 630,003 | 757,326 |
| ROCHE HLDG LTD ADR | 347,088 | 344,264 |
| RIO TINTO PLC SPONS ADR | 165,607 | 139,059 |
| REPLIGEN INC COM | 399,670 | 309,209 |
| RECURRENT MLP INFRASTRUCTURE FD-I | 1,664,238 | 2,000,407 |
| REALTY INCOME CORP COM REIT | 146,232 | 148,576 |
| RAYMOND JAMES FINANCIAL | 134,609 | 222,540 |
| QUAKER CHEMICAL CORP COM | 28,457 | 20,037 |
| PROLOGIS INC REIT | 140,877 | 124,567 |
| PROCTER & GAMBLE CO | 397,475 | 412,161 |
| PRICESMART INC | 25,652 | 32,352 |
| PPL CORP COM | 74,555 | 87,030 |
| RBC BEARINGS INC COM | 98,070 | 167,003 |
| RYAN SPECIALTY HOLDINGS INC COM | 336,542 | 469,063 |
| SALESFORCE INC COM | 49,184 | 93,260 |
| SANOFI ADR | 417,204 | 387,011 |
| STRYKER CORP COM | 169,036 | 278,919 |
| STERIS PLC | 397,486 | 463,144 |
| STARBUCKS CORP COM | 156,931 | 138,178 |
| STANDEX INTERNATIONAL CORP COM | 16,321 | 26,289 |
| SS&C TECHNOLOGIES HLDGS INC | 96,176 | 125,359 |
| SOUTHERN CO COM | 53,254 | 70,342 |
| POWER INTEGRATIONS INC COM | 31,708 | 25,323 |
| SONY GROUP CORP ADR | 339,419 | 464,922 |
| SHOE CARNIVAL INC COM | 26,230 | 22,115 |
| SHELL PLC - ADR | 212,078 | 256,152 |
| SERVICENOW INC COM | 78,341 | 193,279 |
| SENSATA TECHNOLOGIES HOLDING | 30,282 | 23,606 |
| SCHWAB CHARLES CORP COM | 204,763 | 230,107 |
| SCHNEIDER ELECT SE UNSP ADR | 128,555 | 151,399 |
| POOL CORPORATION COM | 403,973 | 409,529 |
| PNC FINANCIAL SVCS GROUP INC COM | 160,172 | 195,555 |
| PHILIP MORRIS INTERNATIONAL INC COM | 53,861 | 99,079 |
| MICROSOFT CORP COM | 785,176 | 1,888,666 |
| META PLATFORMS INC | 91,469 | 565,377 |
| MERCK & CO INC NEW COM | 187,150 | 136,788 |
| MATERION CORP COM | 26,840 | 25,557 |
| MASTERCARD INC CL A COM | 167,391 | 271,979 |
| MARKETAXESS HOLDINGS INC COM | 76,009 | 44,221 |
| MONOLITHIC POWER SYSTEMS | 340,038 | 435,902 |
| LYONDELLBASEEL INDU | 82,925 | 57,513 |
| LITTLEFUSE INC COM | 26,468 | 29,475 |
| LILLY ELI & CO COM | 226,292 | 483,309 |
| LEMAITRE VASCULAR INC | 20,658 | 37,539 |
| DEUTSCHE BANK AG COM | 142,161 | 180,277 |
| LANDSTAR SYSTEM INC COM | 28,273 | 23,772 |
| LAKELAND FINANCIAL CORP COM | 32,565 | 30,111 |
| LULULEMON ATHLETICA INC COM | 110,904 | 72,699 |
| TAIWAN SEMICONDUCTOR MFG CO ADR | 256,137 | 688,077 |
| MORGAN STANLEY COM | 237,688 | 361,588 |
| NAPCO SECURITY TECHNOLOGIES | 38,589 | 31,709 |
| PFIZER INC COM | 230,885 | 150,652 |
| PERRIGO CO PLC | 32,086 | 26,426 |
| PEPSICO INC | 479,145 | 364,298 |
| O'REILLY AUTOMOTIVE INC NEW | 472,076 | 1,327,615 |
| ORACLE CORP COM | 47,936 | 128,992 |
| OLLIE'S BARGAIN OUTLET HOLDINGS INC COM | 51,075 | 110,827 |
| OLD DOMINION FREIGHT LINE | 294,240 | 256,596 |
| MURATA MANUFACTUR-UNSPON ADR | 84,292 | 69,192 |
| NVIDIA CORP COM | 173,126 | 1,608,970 |
| NORTHERN OIL AND GAS INC COM | 27,978 | 25,288 |
| NEXSTAR MEDIA GROUP INC COM | 28,747 | 29,056 |
| NEXPOINT RESIDENTIAL TRUST INC | 25,035 | 19,192 |
| NETFLIX INC COM | 93,476 | 429,861 |
| NESTLE S A SPONSORED ADR | 268,400 | 227,380 |
| NATIONAL GRID PLC ADR | 184,683 | 222,858 |
| NOVANTA INC | 89,237 | 73,103 |
| TC ENERGY CORP COM | 96,048 | 126,903 |
| TERRENO REALTY CORP REIT | 23,942 | 24,334 |
| TETRA TECH INC COM | 22,238 | 25,891 |
| ESQUIRE FINANCIAL HOLDINGS INC COM | 10,816 | 12,684 |
| DSV A/S UNSPONSERED ADR | 144,956 | 182,353 |
| DIAGEO PLC SPONS ADR NEW | 100,173 | 79,059 |
| DEUTSCHE TELEKOM AG SPON ADR | 152,659 | 147,561 |
| DATADOG INC CLASS A | 168,156 | 193,704 |
| CLE FINANCIERE RICH UNSP ADR | 348,716 | 367,690 |
| COMMONWEALTH BK AUS SP ADR | 143,153 | 153,040 |
| CLEAR SECURE INC CLASS A COM | 24,706 | 26,816 |
| CHENIERE ENERGY INC COM | 140,784 | 456,844 |
| CANADIAN PACIFIC KANSAS CITY LTD COM | 124,789 | 121,838 |
| BOSTON SCIENTIFIC CORP COM | 175,869 | 686,887 |
| BARCLAYS PLC ADR | 137,708 | 176,995 |
| BANK MONTREAL QUE COM | 103,478 | 122,910 |
| ATLAS COPCO AB SPONS ADR | 144,678 | 148,319 |
| ALEXANDRIA REAL ESTATE EQUITIES INC | 119,704 | 74,083 |
| FIRSTENERGY CORP COM | 124,301 | 119,653 |
| FORTUNE BRANDS INNOVATION INC COM | 72,285 | 61,004 |
| HSBC HLDGS PLC ADR SPONS NEW | 125,884 | 127,841 |
| HEALTHSTREAM INC COM | 18,815 | 16,602 |
| WILLSCOT HOLDINGS CORPORATION COM | 17,008 | 16,659 |
| WESCO INTL INC COM | 23,532 | 28,150 |
| WEC ENERGY GROUP INC COM | 55,973 | 67,834 |
| UNICREDIT SPA ADR | 365,698 | 475,678 |
| SUNCOR ENERGY INC COM NEW | 141,953 | 143,434 |
| SAP SE ADR | 703,467 | 791,876 |
| PATRICK INDUSTRIES INC COM | 23,437 | 26,205 |
| AIRBUS SE ADR | 126,826 | 143,312 |
| ONTO INNOVATION INC COM | 68,617 | 37,546 |
| NORDEA BANK ABP SPON ADR | 149,109 | 173,243 |
| NATWEST GROUP PLC SPONSORED ADR | 147,049 | 174,243 |
| MITSUBISHI UFJ FINL GROUP INC ADR | 137,907 | 155,530 |
| MUTSUBISHI CORP ADR | 214,494 | 211,437 |
| MATADOR RESOURCES CO COM | 25,356 | 23,717 |
| MSA SAFETY INC COM | 23,427 | 22,784 |
| HONG KONG EXCHANGES UNSPONSORED ADR | 127,647 | 138,123 |
| NOVARTIS AG SPONS ADR | 152,628 | 163,727 |
| SPOTIFY TECHNOLOGY SA | 147,672 | 203,345 |
| UBS GROUP AG | 193,635 | 232,648 |
| XCEL ENERGY CORP | 145,380 | 173,315 |
| UNION PAC CORP COM | 196,556 | 209,603 |
| UNILEVER PLC ADR | 204,710 | 244,435 |
| UNIFIRST CORP COM | 24,732 | 25,221 |
| UMH PROPERTIES INC REIT | 27,909 | 29,853 |
| ULTA BEAUTY INC COM | 149,881 | 179,175 |
| UFP INDUSTRIES INC COM | 16,230 | 19,375 |
| TYLER TECHNOLOGIES | 504,265 | 776,028 |
| UNITED PARCEL SERVICES INC COM | 101,593 | 56,728 |
| TRUIST FINANCIAL CORP COM | 120,787 | 125,832 |
| TREX COMPANY INC COM | 102,457 | 61,232 |
| TRAVEL AND LEISURE CO COM | 20,310 | 29,263 |
| TOYOTA MOTOR CORP ADR | 181,911 | 214,636 |
| TOTALENERGIES SE ADR | 380,800 | 389,765 |
| TOKYO ELECTRON LTD-UNSP ADR | 164,659 | 210,026 |
| THERMO FISHER SCIENTIFIC INC | 230,170 | 166,644 |
| THE COOPER COS INC COM | 155,758 | 135,417 |
| TRIMBLE NAVIGATION LTD | 96,757 | 144,134 |
| KULICKE & SOFFA INDUSTRIES COM | 28,288 | 22,248 |
| UNITEDHEALTH GROUP INC | 187,277 | 122,604 |
| US BANCORP DEL NEW COM | 148,422 | 166,022 |
| WYNDHAM HOTELS & RESORTS INC | 19,277 | 20,952 |
| WINMARK CORP | 16,134 | 16,992 |
| WINGSTOP INC COM | 16,467 | 32,327 |
| WILLIAMS COS INC COM | 30,365 | 58,979 |
| WATSCO INC COM | 298,792 | 454,427 |
| WALMART INC COM | 353,334 | 656,202 |
| VULCAN MATERIALS CO | 228,384 | 249,083 |
| UNIVERSAL DISPLAY CORP COM | 20,940 | 28,884 |
| VERTEX INC CLASS A | 88,268 | 88,620 |
| VERIZON COMMUNICATIONS COM | 169,437 | 196,792 |
| VERISK ANALYTICS INC. | 417,783 | 639,510 |
| VALMONT INDUSTRIES INC | 22,769 | 31,351 |
| UTZ BRANDS INC COM | 32,160 | 24,862 |
| US PHYSICAL THERAPY INC COM | 31,492 | 29,481 |
| VISA INC - CLASS A SHARES | 239,242 | 393,040 |
| KINSALE CAPITAL GROUP INC COM | 87,575 | 143,234 |
| MITSUBISHI HEAVY INDUSTRIES LTD ADR | 371,341 | 488,993 |
| KFORCE INC | 20,699 | 14,560 |
| CANADIAN NATURAL RESOURCES LTD | 294,239 | 231,167 |
| CANADIAN IMPERIAL BANK OF COMMERCE | 35,942 | 60,914 |
| CADENCE DESIGNS SYSTEMS INC COM | 434,004 | 554,054 |
| CABOT CORP | 22,031 | 23,625 |
| BWX TECHNOLOGIES INC | 13,216 | 32,558 |
| BURLINGTON STORES INC. COM | 408,746 | 445,273 |
| BRUNSWICK CORP | 29,851 | 23,422 |
| BROOKFIELD INFRASTRUCTURE CORP | 30,902 | 32,490 |
| BROADRIDGE FINL SOLUTIONS LLC COM | 276,163 | 424,816 |
| BROADCOM INC | 95,030 | 496,997 |
| BRITISH AMERICAN TOBACCO SP ADR | 142,071 | 159,455 |
| BP PLC ADR | 252,053 | 227,169 |
| CAPITAL ONE FINL CORP | 133,767 | 299,566 |
| CATERPILLAR INC | 277,344 | 460,805 |
| CERTARA INC | 82,538 | 53,013 |
| COPART INC COM | 453,249 | 715,980 |
| CONOCOPHILLIPS CO | 142,608 | 103,291 |
| CONCENTRIX CORP | 36,935 | 27,485 |
| KIMBERLY CLARK CORP | 81,738 | 78,254 |
| COHEN & STERS INC | 24,914 | 29,462 |
| COGNEX CORP COM | 79,236 | 59,190 |
| BOEING CO | 153,211 | 152,538 |
| COCA COLA CO | 55,554 | 64,666 |
| CITIGROUP INC | 265,266 | 461,010 |
| CHURCH & DWIGHT INC COM | 328,015 | 417,406 |
| CHEVRON CORP | 671,409 | 604,119 |
| CHESAPEAKE UTILITIES CORP | 23,647 | 24,645 |
| CHEMED CORP | 30,201 | 28,729 |
| CHARLES RIVER LABORATORIES COM | 55,091 | 35,505 |
| COSTAR GROUP INC COM | 331,821 | 490,762 |
| BNP PARIBAS ADR | 148,122 | 238,976 |
| BLACKLINE INC COM | 64,225 | 60,357 |
| AMERICAN ELEC PWR INC | 108,546 | 122,437 |
| AMCOR PLC | 70,993 | 55,471 |
| AMAZON.COM INC | 361,593 | 863,958 |
| ALPHABET INC | 538,422 | 980,191 |
| ALIGN TECHNOLOGY INC COM | 147,647 | 106,025 |
| AIR LEASE CORP | 24,636 | 39,013 |
| ADVANCED DRAINAGE SYSTEMS INC | 377,448 | 423,029 |
| ADOBE INC | 276,505 | 261,918 |
| ABBVIE INC | 166,820 | 179,123 |
| ABBOTT LABS | 161,512 | 209,183 |
| ABB LTD ADR | 199,729 | 384,128 |
| AAON INC COM | 81,348 | 109,371 |
| AMGEN INC | 167,458 | 173,110 |
| AMPHENOL CORP CL A COM | 373,100 | 910,771 |
| ANHEUSER BUSCH INBEV SPN ADR | 97,452 | 114,762 |
| BIO-TECHNE CORP COM | 95,738 | 59,476 |
| BHP GROUP LIMITED ADR | 191,807 | 152,205 |
| BENTLEY SYSTEMS INC | 121,672 | 128,341 |
| BANK OF AMERICA CORP | 290,254 | 387,645 |
| BANCO SANTANDER SA | 93,564 | 264,363 |
| BALCHEM CORP COM | 88,863 | 110,166 |
| BLACKROCK INC | 181,592 | 263,362 |
| AXON ENTERPRISE INC | 394,793 | 1,121,031 |
| ATLAS ENERGY SOLUTIONS | 27,404 | 17,595 |
| AT&T INC | 45,508 | 71,858 |
| ASTRAZENECA PLC SPONS ADR | 299,354 | 296,012 |
| ASML HOLDING NV | 247,609 | 338,988 |
| ARTISAN INTL VALUE FUND ADV | 3,036,381 | 3,726,887 |
| ARTISAN INTERNATIONAL EXPLORER FUND ADVISOR | 941,505 | 1,190,085 |
| APPLE INC | 1,035,915 | 1,434,549 |
| AUDAX SENIOR LOAN FUND I OFFSHORE LP | 1,000,000 | 989,262 |
| COSTCO WHOLESALE CORP | 170,285 | 334,600 |
| CREDIT AGRICOLE SA UNSP ADR | 315,087 | 436,110 |
| FREEPORT-MCMORAN INC | 417,372 | 457,169 |
| IRADIMED CORP | 13,931 | 17,817 |
| FRESHPET INC | 153,436 | 92,901 |
| GARTNER INC COM | 434,739 | 534,379 |
| INVESCO S&P 500 EQUAL WEIGHT ETF | 2,104,814 | 2,587,978 |
| INTUITIVE SURGICAL INC | 90,073 | 181,499 |
| INTUIT INC COM | 327,258 | 618,290 |
| CRA INTERNATIONAL | 18,331 | 31,478 |
| INTESA SANPAOLO SPON ADR | 97,879 | 250,218 |
| GENERAC HOLDINGS INC COM | 73,964 | 54,706 |
| GILEAD SCIENCES INC | 74,729 | 115,527 |
| GLOBAL PAYMENTS INC COM | 102,529 | 79,640 |
| GLOBUS MEDICAL INC COM | 77,232 | 69,644 |
| J & J SNACK FOODS CORP COM | 58,601 | 42,869 |
| GOLDMAN SACHS GRP INC | 430,348 | 796,927 |
| INTERCONTINENTAL EXCHANGE INC | 277,926 | 475,187 |
| HAMILTON LANE INC | 15,663 | 33,540 |
| HEALTHEQUITY INC | 194,446 | 243,462 |
| HEICO CORP CL A COM | 433,519 | 743,648 |
| HEXCEL CORP | 29,754 | 24,856 |
| HOME BANCSHARES INC | 27,675 | 35,575 |
| HOME DEPOT INC | 519,202 | 581,858 |
| HUBSPOT INC COM | 451,278 | 452,540 |
| HUNTINGTON BANKSHARES INC | 100,631 | 124,946 |
| IDEX CORP | 310,535 | 330,774 |
| ING GROEP NV ADR | 141,742 | 257,519 |
| GSK PLC-SPON ADR | 238,501 | 255,245 |
| IDEXX LABORATORIES | 296,735 | 423,709 |
| FIRSTSERVICE CORP | 22,023 | 24,971 |
| DUKE ENERGY CORP | 118,756 | 140,656 |
| KENVUE INC | 86,758 | 88,471 |
| DEXCOM INC | 297,971 | 245,721 |
| DEUTSCHE POST AG-SPON ADR | 77,367 | 90,535 |
| ENBRIDGE INC | 181,634 | 214,454 |
| DESCARTES SYSTEMS GRP INC | 78,882 | 98,697 |
| DANAHER GROUP | 94,881 | 80,004 |
| CUMMINS INC | 152,537 | 196,173 |
| KERING-UNSPONSORED ADR | 150,216 | 105,184 |
| KEYSIGHT TECHNOLOGIES INC COM | 567,429 | 667,402 |
| CSX CORP | 100,769 | 102,523 |
| CROWN CASTLE INC | 134,010 | 101,395 |
| DEERE & CO | 259,981 | 302,043 |
| ENCOMPASS HEALTH CORP | 24,810 | 53,957 |
| ENDEAVOR REGIONAL BANK OPPTYS FD II LP | 900,000 | 997,612 |
| ENSIGN GROUP INC | 36,332 | 58,773 |
| FEDERAL AGRICULTURAL MORGAGE CORP | 21,888 | 36,913 |
| FANUC CORP UNSP ADR | 85,830 | 79,332 |
| FAIR ISAAC CORP COM | 47,673 | 116,989 |
| JOHNSON & JOHNSON | 327,193 | 296,030 |
| EXXON MOBIL CORP | 639,968 | 647,447 |
| JOHNSON CONTROLS INTERNATIONAL PLC | 258,663 | 411,496 |
| EXPONENT INC COM | 141,511 | 120,208 |
| EXLSERVICE HOLDINGS INC | 88,044 | 165,395 |
| JPMORGAN CHASE & CO | 223,699 | 466,175 |
| EPAM SYSTEMS INC COM | 276,596 | 255,505 |
| FISERV INC | 361,599 | 556,022 |
| ILLINOIS TOOL WORKS INC | 162,796 | 179,009 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 10,664 | 5,332 | 5,332 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| NOTE RECEIVABLE - PROVIDENCE ACADEMY | 1,033,698 | 6,719,530 | 6,719,530 |
| Description | Amount |
|---|---|
| ADJUSTMENT TO DONATED SECURITIES TO TAX BASIS | 7,290,596 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PO BOX RENEWAL FEE | 200 | 0 | 200 | |
| EXPENSES FROM 46-4219438 | 0 | 18,832 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 494,526 | 494,526 | 0 | |
| INVESTMENT CUSTODIAN FEES | 53,664 | 53,664 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXCISE TAX | 188,188 | 0 | 0 | |
| FOREIGN TAX WITHHELD | 52,996 | 52,996 | 0 |