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“Religion occupies the highest seat in the human mind, and sees beneath it the civil matters pertaining to the world; it also ascends by means of them... and from that height it surveys what is natural, as from a tower one surveys the plains below.”   —  True Christian Religion 601

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PART I: ANALYSIS OF REVENUE AND EXPENSES

                                                                                                            Adjusted Net Income ($)


REVENUE

            Dividends and Interest from Securities.                                                            25,370

            Total                                                                                                                  25,370


OPERATION AND ADMINISTRATIVE EXPENSES

            Legal Fees

                     Accounting Fees                                                                                         1,109

                    Other Professional Fees                                                                             11,804

            Travel, Conferences, and Meetings                                                                   21,116

            Printing and Publication                                                                                         1,449

            Other Expenses                                                                                                    6,581

            Total Operating and Administrative Expenses                                         42,059

            Total Expenses and Disbursements                                                           42,059


PART II: BALANCE SHEETS

                                                                                                       End of Year: Book Value ($)                                   End of Year: Fair Market Value ($)


ASSETS

            Cash - Non-Interested bearing                                                                                 117                                                                                     888

            Savings and Temporary Cash Investments                                                           4,914                                                                                  1,192

            Investments - U.S. and State Government Obligations

                    Investments - Corporate Stock                                                                   930,845                                                                              923,296

            Total Assets                                                                                                    935,876                                                                              925,376    


LIABILITIES                                                                                                                                0                                                                                        0


NET ASSETS OR FUND BALANCES

            Unrestricted                                                                                                          935,876                                                                             925,376

            Total Net Assets or Fund Balances                                                               935,876                                                                             925,376

            Total Liabilities and Net Assets/Fund Balances                                          935,876                                                                             925,376