LINCOLN INSTITUTE OF LAND POLICY: Form 990PF, tax year 2017

View the entire original 990 at ProPublica ↗

Organization: LINCOLN INSTITUTE OF LAND POLICY (EIN 86-6021106)
Tax period: 2017-07-01 to 2018-06-30
Filed: 2019-05-13
IRS object ID: 201901339349101850
Schema version: 2017v2.3
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990-PF
Schedule B
Accounting Fees Schedule
Depreciation Schedule
General Explanation Attachment
Investments Corp Bonds Schedule
Investments Corp Stock Schedule
Investments Other Schedule2
Land Etc Schedule2
Legal Fees Schedule
Other Assets Schedule
Other Decreases Schedule
Other Expenses Schedule
Other Income Schedule2
Other Liabilities Schedule
Other Professional Fees Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2019-05-13T11:28:08-05:00	ReturnTs
Tax Period End	2018-06-30	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	132060851	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	Owen J Flanagan & Co	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	60 East 42nd Street	AddressLine1Txt
City	New York	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	10165	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2017-07-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	866021106	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	LINCOLN INSTITUTE OF LAND POLICY	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	LINC	BusinessNameControlTxt
Phone	6176613016	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	11010 N TATUM BLVD No D101	AddressLine1Txt
City	Phoenix	CityNm
State Abbreviation	AZ	StateAbbreviationCd
ZIP	85028	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	GEORGE MC CARTHY	PersonNm
Person Title	PRESIDENT & CEO	PersonTitleTxt
Phone	6176613016	PhoneNum
Signature	2019-05-10	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	Kevin Sunkel	PreparerPersonNm
PTIN	P00706145	PTIN
Phone	2126822783	PhoneNum

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	160.79.169.50	IPv4AddressTxt

Field	Value	IRS element (for citing)
IP	2019-05-10	IPDt
IP Tm	14:53:41	IPTm
IP Timezone	ED	IPTimezoneCd
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	BB2A4A3FA27733B72DF8155BE08D026BC841CBC5	AtSubmissionCreationDeviceId
At Submission Filing Device Id	E136641E2205A348FCE59625EE93E743A53ABCDB	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2017	TaxYr
Build TS	2019-02-21 02:37:17Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$602,391,009	FMVAssetsEOYAmt
Method Of Accounting Other	Yes (X)	MethodOfAccountingOtherInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Rcvd Rev And Expnss	$3,392,526	ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss	$9,117,564	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$8,699,750	DividendsNetInvstIncmAmt
Dividends Adj Net Incm	$8,699,750	DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss	$43,802,577	NetGainSaleAstRevAndExpnssAmt
Gross Sales Price	$44,204,559	GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm	$43,802,577	CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm	$2,363,400	NetSTCapitalGainAdjNetIncmAmt
Other Income Rev And Expnss	$65,014	OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm	$0	OtherIncomeNetInvstIncmAmt
Other Income Adj Net Incm	$65,014	OtherIncomeAdjNetIncmAmt
Total Rev And Expnss	$56,377,681	TotalRevAndExpnssAmt
Total Net Invst Incm	$52,502,327	TotalNetInvstIncmAmt
Total Adj Net Incm	$11,128,164	TotalAdjNetIncmAmt
Comp Ofcr Dir Trst Rev And Expnss	$1,472,520	CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm	$589,724	CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Adj Net Incm	$589,724	CompOfcrDirTrstAdjNetIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl	$882,796	CompOfcrDirTrstDsbrsChrtblAmt
Oth Empl Slrs Wgs Rev And Expnss	$6,585,971	OthEmplSlrsWgsRevAndExpnssAmt
Oth Empl Slrs Wgs Net Invst Incm	$1,640	OthEmplSlrsWgsNetInvstIncmAmt
Oth Empl Slrs Wgs Adj Net Incm	$1,640	OthEmplSlrsWgsAdjNetIncmAmt
Oth Empl Slrs Wgs Dsbrs Chrtbl	$6,584,331	OthEmplSlrsWgsDsbrsChrtblAmt
Pension Empl Bnft Rev And Expnss	$2,632,143	PensionEmplBnftRevAndExpnssAmt
Pension Empl Bnft Net Invst Incm	$126,628	PensionEmplBnftNetInvstIncmAmt
Pension Empl Bnft Adj Net Incm	$126,628	PensionEmplBnftAdjNetIncmAmt
Pension Empl Bnft Dsbrs Chrtbl	$2,505,515	PensionEmplBnftDsbrsChrtblAmt
Legal Fees Rev And Expnss	$163,694	LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm	$1,640	LegalFeesNetInvstIncmAmt
Legal Fees Adj Net Incm	$1,640	LegalFeesAdjNetIncmAmt
Legal Fees Dsbrs Chrtbl	$162,054	LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss	$56,745	AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm	$10,111	AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm	$10,111	AccountingFeesAdjNetIncmAmt
Accounting Fees Chrtbl Prps	$46,634	AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss	$2,324,648	OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm	$2,287,609	OtherProfFeesNetInvstIncmAmt
Other Prof Fees Adj Net Incm	$2,287,609	OtherProfFeesAdjNetIncmAmt
Other Prof Fees Dsbrs Chrtbl	$37,039	OtherProfFeesDsbrsChrtblAmt
Interest Rev And Expnss	$611,241	InterestRevAndExpnssAmt
Interest Net Invst Incm	$11,205	InterestNetInvstIncmAmt
Interest Adj Net Incm	$11,205	InterestAdjNetIncmAmt
Interest Dsbrs Chrtbl	$690,755	InterestDsbrsChrtblAmt
Taxes Rev And Expnss	$551,259	TaxesRevAndExpnssAmt
Taxes Net Invst Incm	$259,454	TaxesNetInvstIncmAmt
Taxes Adj Net Incm	$259,454	TaxesAdjNetIncmAmt
Taxes Dsbrs Chrtbl	$250,000	TaxesDsbrsChrtblAmt
Deprec And Dpltn Rev And Expnss	$761,942	DeprecAndDpltnRevAndExpnssAmt
Deprec And Dpltn Net Invst Incm	$28,898	DeprecAndDpltnNetInvstIncmAmt
Deprec And Dpltn Adj Net Incm	$28,898	DeprecAndDpltnAdjNetIncmAmt
Occupancy Rev And Expnss	$758,317	OccupancyRevAndExpnssAmt
Occupancy Net Invst Incm	$22,546	OccupancyNetInvstIncmAmt
Occupancy Adj Net Incm	$38,581	OccupancyAdjNetIncmAmt
Occupancy Dsbrs Chrtbl	$719,736	OccupancyDsbrsChrtblAmt
Trav Conf Meeting Rev And Expnss	$1,828,399	TravConfMeetingRevAndExpnssAmt
Trav Conf Meeting Net Invst Incm	$29,983	TravConfMeetingNetInvstIncmAmt
Trav Conf Meeting Adj Net Incm	$29,983	TravConfMeetingAdjNetIncmAmt
Trav Conf Meeting Dsbrs Chrtbl	$1,798,416	TravConfMeetingDsbrsChrtblAmt
Printing And Pub Rev And Expnss	$350,058	PrintingAndPubRevAndExpnssAmt
Printing And Pub Net Invst Incm	$0	PrintingAndPubNetInvstIncmAmt
Printing And Pub Adj Net Incm	$43,979	PrintingAndPubAdjNetIncmAmt
Printing And Pub Dsbrs Chrtbl	$306,079	PrintingAndPubDsbrsChrtblAmt
Other Expenses Rev And Expnss	$9,447,064	OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm	$160,681	OtherExpensesNetInvstIncmAmt
Other Expenses Adj Net Incm	$165,681	OtherExpensesAdjNetIncmAmt
Other Expenses Dsbrs Chrtbl	$9,281,383	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$27,544,001	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$3,530,119	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm	$3,595,133	TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$23,264,738	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$333,219	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$333,219	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$27,877,220	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$3,530,119	TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm	$3,595,133	TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl	$23,597,957	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$28,500,461	ExcessRevenueOverExpensesAmt
Net Investment Income	$48,972,208	NetInvestmentIncomeAmt
Adjusted Net Income	$7,533,031	AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$280,260	CashBOYAmt
Cash EOY	$1,741,960	CashEOYAmt
Cash EOYFMV	$1,741,960	CashEOYFMVAmt
Sav And Temp Cash Invst BOY	$9,652,279	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$9,281,084	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$9,281,084	SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY	$352,088,555	CorporateStockBOYAmt
Corporate Stock EOY	$348,324,716	CorporateStockEOYAmt
Corporate Stock EOYFMV	$348,324,716	CorporateStockEOYFMVAmt
Corporate Bonds BOY	$18,093,023	CorporateBondsBOYAmt
Corporate Bonds EOY	$17,132,505	CorporateBondsEOYAmt
Corporate Bonds EOYFMV	$17,132,505	CorporateBondsEOYFMVAmt
Other Investments BOY	$176,811,969	OtherInvestmentsBOYAmt
Other Investments EOY	$204,700,219	OtherInvestmentsEOYAmt
Other Investments EOYFMV	$204,700,219	OtherInvestmentsEOYFMVAmt
Land Bldg Equip Cost Or Other Bss	$28,376,128	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$7,180,553	LandBldgEquipAccumDeprecAmt
Land BOY	$19,018,815	LandBOYAmt
Land EOY	$21,195,575	LandEOYAmt
Land EOYFMV	$21,195,575	LandEOYFMVAmt
Other Assets BOY	$12,180	OtherAssetsBOYAmt
Other Assets EOY	$14,950	OtherAssetsEOYAmt
Other Assets EOYFMV	$14,950	OtherAssetsEOYFMVAmt
Total Assets BOY	$575,957,081	TotalAssetsBOYAmt
Total Assets EOY	$602,391,009	TotalAssetsEOYAmt
Total Assets EOYFMV	$602,391,009	TotalAssetsEOYFMVAmt
Other Liabilities BOY	$26,105,785	OtherLiabilitiesBOYAmt
Other Liabilities EOY	$28,318,402	OtherLiabilitiesEOYAmt
Total Liabilities BOY	$26,105,785	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$28,318,402	TotalLiabilitiesEOYAmt
Organization Follows SFAS117	Yes (X)	OrganizationFollowsSFAS117Ind
Unrestricted BOY	$549,050,774	UnrestrictedBOYAmt
Unrestricted EOY	$572,564,190	UnrestrictedEOYAmt
Temporarily Restricted BOY	$800,522	TemporarilyRestrictedBOYAmt
Temporarily Restricted EOY	$1,508,417	TemporarilyRestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY	$549,851,296	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$574,072,607	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$575,957,081	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$602,391,009	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$549,851,296	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$28,500,461	ExcessRevenueOverExpensesAmt
Other Increases	$0	OtherIncreasesAmt
Subtotal	$578,351,757	SubtotalAmt
Other Decreases	$4,279,150	OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY	$574,072,607	TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (20 entries)

PropertyPropertyDesc	How AcquiredHowAcquiredCd	Gross Sales PriceGrossSalesPriceAmt	Gain Or LossGainOrLossAmt	Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt	Cost Or Other BasisCostOrOtherBasisAmt
PUBLICLY TRADED	P	$2,673,171	$2,673,171	$2,673,171
PUBLICLY TRADED	P	$39,535,370	$39,535,370	$39,535,370
CLASS ACTIONS	P	$20,138	$20,138	$20,138
MORGAN CREEK III K-1	P		-$82	-$82	$82
MORGAN CREEK III K-1	P	$163,989	$163,989	$163,989
MORGAN CREEK IV K-1	P		-$379	-$379	$379
MORGAN CREEK IV K-1	P	$172,127	$172,127	$172,127
MORGAN CREEK V K-1	P		-$138	-$138	$138
MORGAN CREEK V K-1	P	$111,499	$111,499	$111,499
ECOSYSTEM II K-1	P		-$83,800	-$83,800	$83,800
ECOSYSTEM III K-1	P		-$2,674	-$2,674	$2,674
CARLYLE V	P	$194,204	$194,204	$194,204
CARLYLE ENERGY	P	$68,138	$68,138	$68,138
BLACKSTONE ASSET MANAGEMENT	P	$572,599	$572,599	$572,599
TAP	P		-$314,217	-$314,217	$314,217
TAP	P	$330,388	$330,388	$330,388
BARROW HANDLEY HIGH YIELD	P	$5,045	$5,045	$5,045
BARROW HANDLEY HIGH YIELD	P		-$692	-$692	$692
ARDEN SAGE	P	$2,167	$2,167	$2,167
KBI WATER FUND	P	$355,724	$355,724	$355,724

Field	Value	IRS element (for citing)
Capital Gain Net Income	$43,802,577	CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss	$2,363,400	NetShortTermCapitalGainLossAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

Field	Value	IRS element (for citing)
Liable Section4942 Tax	0	LiableSection4942TaxInd
Adjusted Qlfy Distri Yr1	$22,463,932	AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1	$510,717,347	NetVlNoncharitableAssetsYr1Amt
Distribution Yr1	0.043985	DistributionYr1Rt
Adjusted Qlfy Distri Yr2	$18,139,606	AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2	$476,463,888	NetVlNoncharitableAssetsYr2Amt
Distribution Yr2	0.038071	DistributionYr2Rt
Adjusted Qlfy Distri Yr3	$16,857,152	AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3	$517,558,674	NetVlNoncharitableAssetsYr3Amt
Distribution Yr3	0.032571	DistributionYr3Rt
Adjusted Qlfy Distri Yr4	$17,226,042	AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4	$496,450,552	NetVlNoncharitableAssetsYr4Amt
Distribution Yr4	0.034698	DistributionYr4Rt
Adjusted Qlfy Distri Yr5	$14,346,101	AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5	$429,309,121	NetVlNoncharitableAssetsYr5Amt
Distribution Yr5	0.033417	DistributionYr5Rt
Total Distribution	0.182742	TotalDistributionRt
Average Distribution	0.036548	AverageDistributionRt
Net Vl Noncharitable Assets	$566,384,303	NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets	$20,700,214	AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct	$489,722	NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct	$21,189,936	AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions	$26,272,806	QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Domestic Org Meeting Sect4940e	Yes (X)	DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax	$489,722	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Subtotal	$489,722	SubtotalAmt
Subtitle A Tax	$0	SubtitleATaxAmt
Tax Based On Investment Income	$489,722	TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx	$569,333	EstimatedPlusOvpmtIncmTxAmt
Extsn Request Income Tax Paid	$0	ExtsnRequestIncomeTaxPaidAmt
Backup Withholding Withheld	$0	BackupWithholdingWithheldAmt
Total Payments And Credits	$569,333	TotalPaymentsAndCreditsAmt
Form2220 Attached	Yes (X)	Form2220AttachedInd
Es Penalty	$583	EsPenaltyAmt
Overpayment	$79,028	OverpaymentAmt
Applied To ES Tax	$79,028	AppliedToESTaxAmt
Refund	$0	RefundAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	0	LegislativePoliticalActyInd
More Than100 Spent	0	MoreThan100SpentInd
Form1120 POL Filed	0	Form1120POLFiledInd
Section4955 Organization Tax	$0	Section4955OrganizationTaxAmt
Section4955 Managers Tax	$0	Section4955ManagersTaxAmt
Tax Reimbursed	$0	TaxReimbursedAmt
Activities Not Previously Rpt	0	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	0	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Organization Dissolved Etc	0	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (1)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (1)	AtLeast5000InAssetsInd
Org Report Or Register State	AZ	OrgReportOrRegisterStateCd
Org Report Or Register State	MA	OrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen	Yes (1)	Form990PFFiledWithAttyGenInd
Private Operating Foundation	Yes (1)	PrivateOperatingFoundationInd
New Substantial Contributors	0	NewSubstantialContributorsInd
Own Controlled Entity	0	OwnControlledEntityInd
Donor Advised Fund	0	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (1)	ComplyWithPublicInspRqrInd
Website Address	WWW.LINCOLNINST.EDU	WebsiteAddressTxt
Individual With Books	Lincoln Institute of Land Policy	IndividualWithBooksNm
Phone	6176613016	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	113 Brattle Street	AddressLine1Txt
City	Cambridge	CityNm
State Abbreviation	MA	StateAbbreviationCd
ZIP	021383400	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	0	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	0	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	0	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	0	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	Yes (1)	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	0	TransferAstDisqualifiedPrsnInd
Payment To Government Official	0	PaymentToGovernmentOfficialInd
Acts Fail To Qlfy As Exceptions	0	ActsFailToQlfyAsExceptionsInd
Uncorrected Prior Acts	0	UncorrectedPriorActsInd
Undistributed Income PY	0	UndistributedIncomePYInd
Business Holdings	0	BusinessHoldingsInd
Jeopardy Investments	0	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	0	UncorrectedPYJeopardyInvstInd
Influence Legislation	0	InfluenceLegislationInd
Influence Election	0	InfluenceElectionInd
Grants To Individuals	Yes (1)	GrantsToIndividualsInd
Grants To Organizations	0	GrantsToOrganizationsInd
Noncharitable Purpose	0	NoncharitablePurposeInd
Transactions Fail To Qlfy As Exc	0	TransactionsFailToQlfyAsExcInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	0	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	0	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (24 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
KATHRYN J LINCOLN
11010 N TATUM BLVD	PHOENIX	AZ	85028	CHAIRMAN & CIO/DIRECTOR	37.50	$399,497	$61,309	$0
GEORGE MC CARTHY
113 BRATTLE STREET	CAMBRIDGE	MA	02138	CEO AND PRESIDENT/DIRECTOR	37.50	$401,274	$58,537	$69,300
DENNIS W ROBINSON
113 BRATTLE STREET	CAMBRIDGE	MA	02138	TREAS. & VP-FIN. & OPS.	37.50	$230,000	$61,468	$0
LEVERING F T WHITE
113 BRATTLE STREET	CAMBRIDGE	MA	02138	AST. SEC. & VP ADMIN & HR	37.50	$165,000	$56,865	$0
DIONE A ETTER
11010 N TATUM BLVD	PHOENIX	AZ	85028	SECRETARY	37.50	$115,000	$37,811	$0
DAVID C LINCOLN
11010 N TATUM BLVD	PHOENIX	AZ	85028	ASSIST. TREASURER/DIRECTOR	2.00	$4,250	$0	$0
CAROLINA BARCO
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR AND PROGRAM ADVIS	3.00	$11,000	$0	$0
ROY W BAHL
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR AND PROGRAM ADVIS	2.00	$11,250	$0	$0
MIMI BROWN
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.50	$8,000	$0	$0
JOHN G LINCOLN III
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.00	$7,000	$0	$0
KEVYN ORR
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	0.50	$2,000	$0	$0
ANDREA TAYLOR
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	0.50	$2,000	$0	$0
THOMAS BECKER
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	2.00	$13,000	$0	$0
BRUCE LINCOLN
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.00	$8,750	$0	$0
MICHAEL NUTTER
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.00	$5,000	$0	$0
THOMAS NECHYBA
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR AND PROGRAM ADVIS	2.00	$12,750	$0	$0
JOHANNES LINN
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR AND PROGRAM ADVIS	1.50	$8,250	$0	$0
JILL SCHURTZ
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.50	$7,750	$0	$0
RAPHAEL BOSTIC
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.00	$0	$0	$0
ANTHONY COYNE
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	2.00	$12,500	$0	$0
CONSTANCE MITCHELL FORD
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR AND PROGRAM ADVIS	2.00	$12,000	$0	$0
JANE CAMPBELL
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	2.00	$12,250	$0	$0
TIM RENJILIAN
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	2.00	$12,500	$0	$0
SCOTT SMITH
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	2.00	$11,500	$0	$0

Compensation Highest Paid Empl CompensationHighestPaidEmplGrp (5 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee BenefitsEmployeeBenefitsAmt	Expense AccountExpenseAccountAmt
ROBIN HACKE
113 BRATTLE STREET	CAMBRIDGE	MA	02138	E.D. - CCI	37.50	$275,000	$67,276	$0
ZHI LIU
113 BRATTLE STREET	CAMBRIDGE	MA	02138	SR. FELLOW	37.50	$260,000	$66,149	$0
JOAN YOUNGMAN
113 BRATTLE STREET	CAMBRIDGE	MA	02138	SR. FELLOW	37.50	$265,000	$52,262	$0
MARTIM SMOLKA
113 BRATTLE STREET	CAMBRIDGE	MA	02138	SR. FELLOW	37.50	$225,000	$53,977	$0
ARMANDO CARBONELL
113 BRATTLE STREET	CAMBRIDGE	MA	02138	SR. FELLOW	37.50	$222,000	$54,629	$0

Field	Value	IRS element (for citing)
Other Employee Paid Over50k	43	OtherEmployeePaidOver50kCnt

Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (5 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Service TypeServiceTypeTxt	CompensationCompensationAmt
EAGLE CAPITAL MANAGEMENT
499 PARK AVENUE	NEW YORK	NY	10222	INVESTMENT ADVICE	$636,053
MERRILL LYNCH
2555 E CAMELBACK RD	PHOENIX	AZ	85016	INVESTMENT CONSULTING	$478,701
SANDS CAPITAL
1101 WILSON BLVD	ARLINGTON	VA	22209	INVESTMENT ADVICE	$307,588
GUARDIAN INFORMATION TECH
23 WATER STREET	LEOMINSTER	PA	01453	IT SUPPORT	$240,958
RDW GROUP
141 TREMONT STREET	BOSTON	MA	02110	IT SUPPORT	$182,340

Field	Value	IRS element (for citing)
Contractor Paid Over50k	14	ContractorPaidOver50kCnt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

Field	Value	IRS element (for citing)
Description1	THE DEPARTMENT OF PLANNING AND URBAN FORM ADDRESSES MAJOR GLOBAL CHALLENGES WITH ITS WORK IN URBAN DEVELOPMENT, LAND CONSERVATION AND THE INTERMOUNTAIN WEST.	Description1Txt
Expenses1	$2,963,856	Expenses1Amt
Description2	THE DEPARTMENT OF VALUATION AND TAXATION SEEKS TO INFORM PUBLIC DECISION-MAKING ON LAND-RELATED ISSUES THROUGH RESEARCH, TEACHING, AND DATA GATHERING.	Description2Txt
Expenses2	$2,538,303	Expenses2Amt
Description3	THE LATIN AMERICA PROGRAM FOCUSES ON SEVEN CORE AREAS - VALUE CAPTURE; PROPERTY TAXATION, ASSESSMENTS AND CADASTRES; LARGE-SCALE URBAN REDEVELOPMENT PROJECTS; INFORMALITY, REGULARIZATION, AND LAND MARKETS; ANALYSIS OF URBAN LAND MARKETS; LEGAL DIMENSIONS OF LAND POLICY; AND CLIMATE CHANGE.	Description3Txt
Expenses3	$2,415,874	Expenses3Amt
Description4	THE CENTER FOR COMMUNITY INVESTMENT HELPS DISADVANTAGED COMMUNITIES HARNESS INVESTMENT TO ACHIEVE THEIR ECONOMIC, SOCIAL AND ENVIRONMENTAL PRIORITIES. THROUGH A COMBINATION OF TECHNICAL ASSISTANCE, LEADERSHIP DEVELOPMENT, DISSEMINATION OF RESEARCH AND LESSONS LEARNED, AND THE CREATION OF A ROBUST PEER NETWORK, THE CENTER BUILDS CAPACITY OF COMMUNITIES TO DEFINE PRIORITIES AND GUIDE CAPITAL TOWARD THOSE PRIORITIES.	Description4Txt
Expenses4	$2,657,292	Expenses4Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$572,862,611	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$1,638,362	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$508,472	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$575,009,445	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$575,009,445	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$8,625,142	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$566,384,303	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$28,319,215	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Sect4942j3j5 Fndtn And Frgn Org	Yes (X)	Sect4942j3j5FndtnAndFrgnOrgInd

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$23,597,957	ExpensesAndContributionsAmt
Program Related Invst Total	$0	ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid	$2,674,849	CharitableAssetsAcquisPaidAmt
Qualifying Distributions	$26,272,806	QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm	$489,722	PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri	$25,783,084	AdjustedQualifyingDistriAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

Field	Value	IRS element (for citing)
Private Operating Fndtn Ruling	2006-11-01	PrivateOperatingFndtnRulingDt
Section4942j3	Yes (X)	Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

Field	Value	IRS element (for citing)
Current Year	$7,533,031	CurrentYearAmt
Year1	$8,056,447	Year1Amt
Year2	$3,037,717	Year2Amt
Year3	$3,795,606	Year3Amt
Total	$22,422,801	TotalAmt

Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp

Field	Value	IRS element (for citing)
Current Year	$6,403,076	CurrentYearAmt
Year1	$6,847,980	Year1Amt
Year2	$2,582,059	Year2Amt
Year3	$3,226,265	Year3Amt
Total	$19,059,381	TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Current Year	$26,272,806	CurrentYearAmt
Year1	$22,644,599	Year1Amt
Year2	$18,198,963	Year2Amt
Year3	$16,857,152	Year3Amt
Total	$83,973,520	TotalAmt

Qualifying Distri Not Used Drt QualifyingDistriNotUsedDrtGrp

Field	Value	IRS element (for citing)
Current Year	$0	CurrentYearAmt
Year1	$0	Year1Amt
Year2	$0	Year2Amt
Year3	$0	Year3Amt
Total	$0	TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

Field	Value	IRS element (for citing)
Current Year	$26,272,806	CurrentYearAmt
Year1	$22,644,599	Year1Amt
Year2	$18,198,963	Year2Amt
Year3	$16,857,152	Year3Amt
Total	$83,973,520	TotalAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Total Assets Sect4942j3 Bi TotalAssetsSect4942j3BiGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

Field	Value	IRS element (for citing)
Current Year	$18,879,477	CurrentYearAmt
Year1	$17,023,911	Year1Amt
Year2	$15,882,129	Year2Amt
Year3	$17,251,956	Year3Amt
Total	$69,037,473	TotalAmt

Total Support TotalSupportGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Public Support Type PublicSupportType

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Largest Support From EO LargestSupportFromEOGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Gross Investment Income GrossInvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (24 entries)

Address Line1RecipientForeignAddress/AddressLine1Txt	CityRecipientForeignAddress/CityNm	CountryRecipientForeignAddress/CountryCd	Recipient RelationshipRecipientRelationshipTxt	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt	Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Address Line2RecipientForeignAddress/AddressLine2Txt	Address Line2RecipientUSAddress/AddressLine2Txt
Line Algoed
Pastoriestraat 40	Haacht	BE	none	I	Assessing the feasibility of CLT instruments developed by the Cao Martn Pea communities	$10,530
ASU Foun for a New Amer Univ
			none	PC	Impact of the Water Resources Element within Arizona General Plans on Water Sustainability	$25,641	300 E University Drive PO Box 2260	Tempe	AZ	85281
Ciro Biderman
Rua Visconde de Ouro Preto	Sao Paulo	BR	none	I	Moving to (dis)Opportunity: Brazils Minha Cas Minha Vida program	$10,000
Isabel Margarita Brain
35-42 Hecklenburgh Square William		UK	none	I	Changes in the Geographies of Opportunity in the City of Santiago, Chile	$10,000					Goodenough House Flat 5361
Clark University
			none	PC	Land Conversion and Misallocation across Cities in China	$16,500	950 Main Street	Worcester	MA	01610
Dept of Agri Economics & Rural Sociology -Auburn U
			none	PC	"An Experiment on the Public Acceptability, Efficiency, & Spatial Impacts of LVT	$14,666	702 W Church Road	Newark	DE	19711
Gretel Ruth Follingstad
			none	PC	Community Drought Resilience: Reaching Beyond Conservation Towards Adaptation	$10,000	4670 Kirkwood St	Boulder	CO	80301
Julie Gamble
			none	I	Is Informal Transit Land-Oriented? Case of Quito, Ecuador	$12,493	4314 Saffron	Friendswood	TX	77546
Nestor Fernando Garza Puentes
			none	I	Regulation and Real Estate Prices in Baranquilla, Colombia	$11,400	1535 NW 53rd Street Apt 2	Seattle	WA	98107
Department of Economics University of California Berkeley
			none	PC	Loss Aversion and Property Tax Avoidance	$10,000	2737 Garber Street Apt 8	Berkeley	CA	94705
Kent State University
			none	PC	Location-Based Development Impact Fees and New Business Location Decisions	$10,000	PO Box 5190/134 Cartwright Hall	Kent	OH	44242
School of Urban Planning McGill University
3929 Ethel St	Verdun	CA	none	PC	Innovation Districts: often imitated, never duplicated?	$10,000
The Ohio State University
			none	PC	Spatial Impacts of High-Speed Rail on Urban Transformation in China	$12,000	1960 Kenny Road	Columbus	OH	43210
Jose Joaquin Prieto
5361 Mecklenburgh Square	London	UK	none	I	Changes in the Geographies of Opportunity in the City of Santiago, Chile	$10,000
P Universidad Catolica de Chile
El Comendador No 1916 Casilla	Providencia Santiago	CI	none	NC	Modelling the Costs of Densification in Consolidated Neighborhoods	$13,000
Department of Public Administration University of North Texas
			none	PC	The Effects of Property Tax Exemptions on Municipal Budgets	$10,000	3405 Oceanview Drive	Denton	TX	76208
UCL Consultants Limited
97 Tottenham Court Road Network	London	UK	none	NC	In search of urban livability: Equity, public health, infrastructure and urban policy in Cali, Colombia	$10,000					Building
Monica Unda Gutierrez
			none	I	Municipal Finances in Mexico: Why Some Cities Extract More and Spend it Better	$32,211	2858 Monarch St	San Diego	CA	92123
University of Leeds
Woodhouse Lane	Leeds West Yorkshire	UK	none	NC	Urban Expansion and Housing Affordability in China	$18,000
University of Oklahoma
			none	PC	Location-Based Development Impact Fees and New Business Location Decisions	$10,000	Department of Economics 729 Elm	Norman	OK	73019		Room 329 Hester
Univ of Southern California
			none	PC	The role of entrepeneurship in Emerging Land Markets: Case of Havana, Cuba	$36,030	Dept of Urban Planning and Spatial	Los Angeles	CA	90089		Analysis Ralph and Goldy Lewis Hall
Universidad del Rosario
Carrera 4 No 29-25 Apto 301	Bogota	CO	none	NC	Are Land Use and Development Changes Associated with Value Capture as a Result of BRT Investments?	$10,748
University of California Berkeley Dept of Economics
			none	PC	Examining the Incidence of the Property Tax Using a Spatial Equilibrium Framework	$10,000	6116 Telegraph Ave Apt 213	Oakland	CA	94609
Department of Architecture University of Cambridge
Flat B White House 1 Conduit Head	Cambridge	UK	none	PC	A New Model for Land Value Capture in Planned New Urban Centers: Shanghai Case	$10,000					Road

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$333,219	TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut	$0	TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Program Service Rev Part VII ProgramServiceRevPartVIIGrp (5 entries)

DescDesc	Related Or Exempt Function IncmRelatedOrExemptFunctionIncmAmt
PUBLICATIONS	$43,979
SONORAN INSTITUTE	$9,840
EMPLOYEE PARKING	$5,745
OTHER	$450
COURSE COSTS REIMBURSEMENT	$5,000

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

Field	Value	IRS element (for citing)
Business	900099	BusinessCd
Unrelated Business Taxbl Incm	$417,814	UnrelatedBusinessTaxblIncmAmt
Exclusion	14	ExclusionCd
Exclusion	$8,699,750	ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

Field	Value	IRS element (for citing)
Exclusion	18	ExclusionCd
Exclusion	$43,802,577	ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Unrelated Business Taxbl Incm	$417,814	UnrelatedBusinessTaxblIncmAmt
Exclusion	$52,502,327	ExclusionAmt
Related Or Exempt Function Incm	$65,014	RelatedOrExemptFunctionIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$52,985,155	TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp (5 entries)

Line NumberLineNumberTxt	Relationship StatementRelationshipStatementTxt
1A	SALES OF SCHOLARLY PUBLICATIONS IN VARIOUS PROGRAM AREAS
1B	CHARGE FOR OCCUPANCY BY NON-PROFIT
1C	PARKING PROVIDED FOR EMPLOYEE CONVENIENCE
1D	USE OF CLASSROOM SPACE BY CHARITABLE ORGANIZATION ENGAGED IN EDUCATION
1E	PROGRAM COSTS REIMBURSED BY OTHER ORGANIZATIONS

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	0	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	0	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	0	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	0	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	0	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	0	ReimbursementArrangementsInd
Loans Or Loan Guarantees	0	LoansOrLoanGuaranteesInd
Performance Of Services Etc	0	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	0	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	0	RelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
General Rule	Yes (X)	GeneralRuleInd

Contributor Information ContributorInformationGrp (23 entries)

ContributorContributorNum	Address Line1ContributorForeignAddress/AddressLine1Txt	CityContributorForeignAddress/CityNm	Province Or StateContributorForeignAddress/ProvinceOrStateNm	CountryContributorForeignAddress/CountryCd	Total ContributionsTotalContributionsAmt	Person ContributionPersonContributionInd	Address Line1ContributorUSAddress/AddressLine1Txt	CityContributorUSAddress/CityNm	State AbbreviationContributorUSAddress/StateAbbreviationCd	ZIPContributorUSAddress/ZIPCd
NATURE CONSERVANCY CANADA
1	245 EGLINTON AVENUE EAST	TORONTO	ONTARIO	CA	$7,676	Yes (X)
HIGHSTEAD FOUNDATION
2					$62,000	Yes (X)	PO BOX 1097	REDDING	CT	06875
THE TRANSIT CENTER
3					$20,000	Yes (X)	1 WHITEHALL STREET	NEW YORK	NY	10004
WEEDEN FOUNDATION
4					$15,000	Yes (X)	35 ADAMS STREET	BEDFORD HILLS	NY	10507
MASS AUDUBON
5					$22,000	Yes (X)	208 SOUTH GREAT ROAD	LINCOLN	MA	01773
KRESGE FOUNDATION
6					$1,010,000	Yes (X)	3215 W BIG BEAVER ROAD	TROY	MI	48084
ROBERT WOOD JOHNSON FOUNDATION
7					$1,635,100	Yes (X)	50 COLLEGE ROAD EAST	PRINCETON	NJ	08540
VERMONT COMMUNITY FOUNDATION
8					$5,000	Yes (X)	3 COURT STREET	MIDDLEBURY	VT	05753
FORD FOUNDATION
9					$30,000	Yes (X)	1440 BROADWAY	NEW YORK	NY	10018
BHP MINERALS AMERICAS
10	CERRO EL PLOMO 6000	SANTIAGO		CI	$15,000	Yes (X)
CHARLES STUART MOTT FOUNDATION
11					$150,000	Yes (X)	503 S SAGINAW STREET SUITE 1200	FLINT	MI	485021851
WALTON FAMILY FOUNDATION
12					$60,000	Yes (X)	PO BOX 2030	BENTONVILLE	AZ	72712
MID-ATLANTIC REGIONAL COUNCIL
13					$5,000	Yes (X)	600 BROADWAY SUITE 200	KANSAS CITY	MO	641051659
ARAUCO
14	AVENIDA EL GOLF 150 PISO 14	SANTIAGO		CI	$15,000	Yes (X)
ALERCE
15	SANTA ROSA 575 OF 501	SANTIAGO		CI	$5,000	Yes (X)
DIFUSION TANTAUCO
16	AV APOQUINDO 3000 ISO 19	LAS CONDES		CI	$5,000	Yes (X)
FOUNDATION COSMOS
17	GERTRUDIS ECHENIQUE 470	LAS CONDES		CI	$5,000	Yes (X)
FOUNDATION MAR ADENTRO
18	DON CARLOS 3171 C	SANTIAGO		CI	$5,000	Yes (X)
ISLAND FOUNDATION
19					$5,000	Yes (X)	589 MILL STREET PO BOX 1605	MARION	MA	02738
CYNTHIA AND GEORGE MITCHELL FOUNDATION
20					$5,000	Yes (X)	PO BOX 8937	THE WOODLANDS	TX	773878937
CHICAGO METROPOLITAN AGENCY FOR PLANNING
21					$5,000	Yes (X)	233 SOUTH WACKER DRIVE SUITE 800	CHICAGO	IL	60606
ATLANTA REGIONAL COMMISSION
22					$5,000	Yes (X)	229 PEACHTREE STREET NE SUITE 100	ATLANTA	GA	30303
SANDS CAPITAL MANAGEMENT LLC
23					$10,000	Yes (X)	1000 WILSON BLVD SUITE 3000	ARLINGTON	VA	22209

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Field	Value	IRS element (for citing)
Category	AUDIT FEES	CategoryTxt
Amt	$56,745	Amt
Net Investment Income	$10,111	NetInvestmentIncomeAmt
Adjusted Net Income	$10,111	AdjustedNetIncomeAmt
Disbursements Charitable Prps	$46,634	DisbursementsCharitablePrpsAmt

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp (18 entries)

PropertyPropertyDesc	Cost Or Other BasisCostOrOtherBasisAmt	Prior Year DepreciationPriorYearDepreciationAmt	Computation MethodComputationMethodTxt	Current Year ExpenseCurrentYearExpenseAmt	Net Investment IncomeNetInvestmentIncomeAmt	Adjusted Net IncomeAdjustedNetIncomeAmt
LAND AND BUILDINGS, BRATTLE STREET, CAMBRIDGE	$10,082,406	$5,158,454	VAR	$275,135	$0	$0
FURNITURE	$90,433	$90,433	VAR	$0	$0	$0
OFFICE CONDO - PHOENIX	$3,366,209	$504,024	VAR	$56,526	$0	$0
CONDOMINIUM IMPROVEMENTS - PHOENIX	$389,901	$115,890	VAR	$12,997	$0	$0
CONDOMINIUM IMPROVEMENTS - PHOENIX	$30,980	$7,651	VAR	$1,106	$0	$0
PHILLIPS PLACE, CAMBRIDGE - LAND	$2,500,000		VAR	$0	$0	$0
PHILLIPS PLACE, CAMBRIDGE - BUILDINGS	$1,550,255		VAR	$0	$0	$0
PHILLIPS PLACE, CAMBRIDGE - IMPROVEMENTS	$3,160,418	$435,480	VAR	$200,973	$0	$0
PHILLIPS PLACE, CAMBRIDGE - CAP INT	$443,002	$31,995	VAR	$14,767	$0	$0
FURNITURE	$160,023	$49,489	VAR	$22,860	$0	$0
BRATTLE STREET RENOVATION	$4,911,496		VAR	$100,706	$0	$0
PHOENIX FURNITURE	$127,587	$9,112	VAR	$18,227	$0	$0
CONDOMINIUM IMPROVEMENTS - PHOENIX	$351,301	$10,768	VAR	$16,152	$0	$0
PHOENIX AV EQUIPMENT	$52,173	$5,217	VAR	$10,435	$0	$0
CAPITALIZED INTEREST - PHOENIX	$22,578	$98	VAR	$148	$0	$0
FURNITURE - BRATTLE	$466,129		VAR	$31,910	$0	$0
ARTWORK - BRATTLE	$141,616		VAR	$0	$0	$0
PHOENIX CONSTRUCTION IN PROGRESS	$529,621		VAR	$0	$0	$0

General Explanation Attachment GeneralExplanationAttachment

General Explanation GeneralExplanationGrp

Field	Value	IRS element (for citing)
Identifier	GRANTS AND CONTRIBUTIONS PAID DURING THE YEAR	IdentifierTxt
Form And Line Reference	990PF PART XV	FormAndLineReferenceDesc
Medium Explanation	PROGRAM RELATED GRANTS PAID DURING THE YEAR REPRESENT FELLOWSHIPS/DISSERTATIONS/RFP'S OF $10,000 OR MORE FOR WHICH THE INSTITUTE MAINTAINS ACTIVE INVOLVEMENT.AMOUNTS UNDER $10,000 ARE INCLUDED IN STATEMENT 8.FOR INFORMATION REGARDING FELLOWSHIPS/DISSERTATIONS/RFP'S INCLUDING APPLICATIONS, SUBMISSIONS AND DEADLINES, PLEASE SEE WWW.LINCOLNINST.EDU.	MediumExplanationTxt

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp (131 entries)

BondBondNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
$31000 ABBOTT LABORATORIES GLB 02.350% NOV 22 2019	$30,819	$30,819
$180000 ABBVIE INC GLB 02.300% MAY 14 2021	$174,911	$174,911
$210000 AETNA INC GLB 02.750% NOV 15 2022	$201,652	$201,652
$180000 AMAZON.COM INC GLB 02.800% AUG 22 2024	$173,437	$173,437
$190000 AMERICAN ELECTRIC POWER - 03.200% NOV 13 2027	$177,572	$177,572
$215000 AMERICAN EXPRESS CREDIT SER MTN 02.375% MAY 26 2020	$211,880	$211,880
$115000 AMGEN INC GLB 01.900% MAY 10 2019	$114,251	$114,251
$80000 ANHEUSER-BUSCH INBEV FIN COMPANY GUARNT GLB 02.650% FEB 01 2021	$78,898	$78,898
$165000 ANHEUSER-BUSCH INBEV FIN COMPANY GUARNT GLB 03.300% FEB 01 2023	$163,621	$163,621
$245000 ANTHEM INC GLB 03.500% AUG 15 2024	$238,762	$238,762
$100000 APPLE INC GLB 02.850% MAY 11 2024	$96,816	$96,816
$85000 APPLE INC GLB 03.000% JUN 20 2027	$80,792	$80,792
$145000 APPLE INC GLB 02.150% FEB 09 2022	$140,499	$140,499
$90000 AUTOMATIC DATA PROCESSNG GLB 02.250% SEP 15 2020	$88,768	$88,768
$340000 BANK OF AMERICA CORP SER MTN 03.248% OCT 21 2027	$316,870	$316,870
$270000 BANK OF NY MELLON CORP SER MTN VAR%MAY 16 2023	$262,011	$262,011
$260000 BB&T CORPORATION SER MTN 02.750% APR 01 2022	$253,965	$253,965
$135000 BERKSHIRE HATHAWAY ENERG GLB 02.375% JAN 15 2021	$132,169	$132,169
$175000 BERKSHIRE HATHAWAY INC GLB 02.750% MAR 15 2023	$171,257	$171,257
$100000 BMW US CAPITAL LLC COMPANY GUARNT 144A 02.250% SEP 15 2023	$93,168	$93,168
$140000 BROADCOM CRP / CAYMN FI COMPANY GUARNT GLB 03.875% JAN 15 2027	$132,419	$132,419
$145000 BUCKEYE PARTNERS LP GLB 03.950% DEC 01 2026	$131,560	$131,560
$80000 BURLINGTN NORTH SANTA FE - 03.650% SEP 01 2025	$80,247	$80,247
$85000 CANADIAN NATL RESOURCES - 03.900% FEB 01 2025	$83,788	$83,788
$180000 CAPITAL ONE FINANCIAL CO GLB 02.500% MAY 12 2020	$177,448	$177,448
$85000 CARDINAL HEALTH INC GLB 01.948% JUN 14 2019	$84,294	$84,294
$130000 CHEVRON CORP GLB 02.895% MAR 03 2024	$126,454	$126,454
$120000 CISCO SYSTEMS INC - 04.450% JAN 15 2020	$123,041	$123,041
$235000 CITIGROUP INC - 03.200% OCT 21 2026	$218,533	$218,533
$85000 CITIGROUP INC GLB VAR%JAN 24 2023	$83,276	$83,276
$135000 CNA FINANCIAL CORP GLB 03.450% AUG 15 2027	$125,542	$125,542
$20000 COCA-COLA FEMSA SAB CV COMPANY GUARNT GLB 02.375% NOV 26 2018	$19,973	$19,973
$93000 COMCAST CORP COMPANY GUARNT GLB 03.550% MAY 01 2028	$88,817	$88,817
$250000 COMCAST CORP COMPANY GUARNT GLB 02.750% MAR 01 2023	$240,322	$240,322
$105000 CONCHO RESOURCES INC COMPANY GUARNT GLB 03.750% OCT 01 2027	$101,004	$101,004
$85000 CONSTELLATION BRANDS INC COMPANY GUARNT GLB 03.200% FEB 15 2023	$82,708	$82,708
$215000 COSTCO WHOLESALE CORP GLB 02.150% MAY 18 2021	$210,291	$210,291
$70000 CROWN CASTLE INTL CORP GLB 03.800% FEB 15 2028	$65,614	$65,614
$75000 CUMMINS INC - 03.650% OCT 01 2023	$75,680	$75,680
$95000 CVS HEALTH CORP GLB 04.100% MAR 25 2025	$94,496	$94,496
$90000 DELMARVA PWR & LIGHT CO 1ST MORTGAGE 03.500% NOV 15 2023	$89,951	$89,951
$175000 DEUTSCHE TELEKOM INT FIN COMPANY GUARNT 144A 02.820% JAN 19 2022	$169,934	$169,934
$180000 DIAMOND 1 FIN/DIAMOND 2 144A 04.420% JUN 15 2021	$182,632	$182,632
$90000 DOMINION ENERGY INC JR SUBORDINATED 02.579% JUL 01 2020	$88,680	$88,680
$135000 DUKE ENERGY CORP - 03.550% SEP 15 2021	$135,553	$135,553
$120000 DUKE ENERGY FLORIDA LLC GLB REMAIN PRN FCR .75000	$89,481	$89,481
$35000 EATON CORP COMPANY GUARNT GLB 02.750% NOV 02 2022	$33,981	$33,981
$90000 EDISON INTERNATIONAL - 02.950% MAR 15 2023	$86,461	$86,461
$112000 ERP OPERATING LP - 04.625% DEC 15 2021	$116,094	$116,094
$185000 FIFTH THIRD BANK SER BKNT 01.625% SEP 27 2019	$182,121	$182,121
$200000 FORD MOTOR CREDIT CO LLC GLB 03.815% NOV 02 2027	$185,594	$185,594
$45000 GE CAPITAL INTL FUNDING COMPANY GUARNT GLB 02.342% NOV 15 2020	$43,987	$43,987
$95000 GENERAL DYNAMICS CORP COMPANY GUARNT GLB 02.875% MAY 11 2020	$94,896	$94,896
$165000 GENERAL ELEC CAP CORP SER MTN GLB 04.650% OCT 17 2021	$171,618	$171,618
$60000 GENERAL MOTORS FINL CO GLB 04.150% JUN 19 2023	$59,986	$59,986
$115000 GILEAD SCIENCES INC GLB 03.700% APR 01 2024	$115,220	$115,220
$60000 GOLDMAN SACHS GROUP INC GLB 02.000% APR 25 2019	$59,585	$59,585
$250000 GOLDMAN SACHS GROUP INC - VAR%SEP 29 2025	$237,380	$237,380
$175000 INTEL CORP GLB 01.850% MAY 11 2020	$172,263	$172,263
$85000 JOHN DEERE CAPITAL CORP SER DMTN 02.350% JAN 08 2021	$83,510	$83,510
$310000 JPMORGAN CHASE & CO GLB 03.200% JAN 25 2023	$304,454	$304,454
$105000 JPMORGAN CHASE & CO GLB VAR%JAN 23 2029	$99,483	$99,483
$140000 LAM RESEARCH CORP GLB 02.800% JUN 15 2021	$137,612	$137,612
$110000 LIBERTY MUTUAL GROUP INC COMPANY GUARNT 144A 04.250% JUN 15 2023	$111,112	$111,112
$205000 LOCKHEED MARTIN CORP GLB 03.100% JAN 15 2023	$202,345	$202,345
$250000 LYB INTL FINANCE BV COMPANY GUARNT GLB 04.000% JUL 15 2023	$250,545	$250,545
$100000 MACQUARIE BANK LTD 144A 02.600% JUN 24 2019	$99,695	$99,695
$85000 MARATHON PETROLEUM CORP GLB 03.625% SEP 15 2024	$83,014	$83,014
$95000 MARSH & MCLENNAN COS INC GLB 02.750% JAN 30 2022	$92,866	$92,866
$75000 MCDONALD'S CORP SER MTN 02.750% DEC 09 2020	$74,493	$74,493
$85000 MEDTRONIC INC COMPANY GUARNT GLB 02.500% MAR 15 2020	$84,410	$84,410
$130000 MICROSOFT CORP GLB 01.100% AUG 08 2019	$127,960	$127,960
$185000 MICROSOFT CORP GLB 02.875% FEB 06 2024	$181,115	$181,115
$95000 MOLSON COORS BREWING CO COMPANY GUARNT GLB 02.100% JUL 15 2021	$91,098	$91,098
$95000 MOLSON COORS BREWING CO COMPANY GUARNT GLB 01.900% MAR 15 2019	$94,323	$94,323
$180000 MONSANTO CO GLB 02.750% JUL 15 2021	$175,527	$175,527
$275000 MORGAN STANLEY SER GMTN GLB 03.700% OCT 23 2024	$271,494	$271,494
$90000 MPLX LP GLB 04.875% DEC 01 2024	$92,787	$92,787
$55000 MPLX LP GLB 04.000% MAR 15 2028	$52,309	$52,309
$85000 NATIONAL RURAL UTIL COOP COLLATERAL TRUST GLB 03.400% FEB 07 2028	$82,524	$82,524
$75000 NISOURCE FINANCE CORP GLB 03.490% MAY 15 2027	$71,716	$71,716
$55000 NISOURCE FINANCE CORP GLB 02.650% NOV 17 2022	$53,162	$53,162
$150000 NORTHROP GRUMMAN CORP - 03.500% MAR 15 2021	$151,555	$151,555
$55000 NUCOR CORP GLB 03.950% MAY 01 2028	$54,858	$54,858
$70000 PACCAR FINANCIAL CORP SER MTN 01.650% FEB 25 2019	$69,390	$69,390
$65000 PACCAR FINANCIAL CORP SER MTN 01.300% MAY 10 2019	$64,249	$64,249
$105000 PHILIP MORRIS INTL INC GLB 02.625% MAR 06 2023	$100,568	$100,568
$105000 PHILIP MORRIS INTL INC GLB 01.875% FEB 25 2021	$101,659	$101,659
$180000 PHILLIPS 66 PARTNERS LP - 03.605% FEB 15 2025	$171,643	$171,643
$240000 PNC BANK NA SER BKNT 02.200% JAN 28 2019	$239,381	$239,381
$90000 PUBLIC SERVICE ENTERPRIS GLB 01.600% NOV 15 2019	$88,023	$88,023
$215000 QUALCOMM INC GLB 02.900% MAY 20 2024	$203,164	$203,164
$115000 REYNOLDS AMERICAN INC COMPANY GUARNT GLB 04.850% SEP 15 2023	$119,536	$119,536
$80000 S&P GLOBAL INC COMPANY GUARNT GLB 04.400% FEB 15 2026	$82,024	$82,024
$155000 SCHLUMBERGER HLDGS CORP 144A 03.625% DEC 21 2022	$155,015	$155,015
$275000 SCHNEIDER ELECTRIC SA 144A 02.950% SEP 27 2022	$269,995	$269,995
$120000 SEMPRA ENERGY GLB 03.400% FEB 01 2028	$112,580	$112,580
$190000 SHIRE ACQ INV IRELAND DA COMPANY GUARNT GLB 02.875% SEP 23 2023	$178,752	$178,752
$195000 SOUTHERN CO GLB 02.950% JUL 01 2023	$188,099	$188,099
$160000 SOUTHWEST AIRLINES CO - 02.650% NOV 05 2020	$157,835	$157,835
$90000 STATE STREET CORP GLB 02.550% AUG 18 2020	$89,267	$89,267
$135000 SUNTRUST BANK SER BKNT GLB 02.450% AUG 01 2022	$129,686	$129,686
$120000 SUNTRUST BANKS INC SER BKNT 03.000% FEB 02 2023	$117,400	$117,400
$120000 TOYOTA MOTOR CREDIT CORP SER MTN 02.125% JUL 18 2019	$119,269	$119,269
$95000 TRINITY ACQUISITION PLC COMPANY GUARNT GLB 04.400% MAR 15 2026	$94,068	$94,068
$85000 UDR INC CGTD SER GMTN GLB 03.500% JAN 15 2028	$80,224	$80,224
$85000 UNION PACIFIC CORP GLB 03.750% JUL 15 2025	$84,930	$84,930
$85000 UNITED TECHNOLOGIES CORP GLB 01.900% MAY 04 2020	$83,374	$83,374
$105000 UNITEDHEALTH GROUP INC GLB 02.700% JUL 15 2020	$104,373	$104,373
$80000 UNITEDHEALTH GROUP INC GLB 02.750% FEB 15 2023	$77,445	$77,445
$160000 USD ALIMEN COUCHE 144A 2.700% JUL 26 2022	$153,781	$153,781
$150000 USD HUSKY ENERGY INC 3.950% APR 15 2022	$151,121	$151,121
$85000 USD NUTRIEN LTD 4.000% DEC 15 2026	$82,442	$82,442
$160000 USD ONTARIO PROVINCE 2.400% FEB 08 2022	$156,346	$156,346
$175000 USD ROYAL BK CANADA 2.150% OCT 26 2020	$170,975	$170,975
$100000 USD TELUS CORP 2.800% FEB 16 2027	$91,586	$91,586
$265000 USD TORONTO DOM BANK SER MTN 1.900% OCT 24 2019	$261,968	$261,968
$120000 USD TRANSCANADA PL 4.250% MAY 15 2028	$120,377	$120,377
$65000 VALERO ENERGY CORP GLB 04.350% JUN 01 2028	$64,713	$64,713
$140000 VENTAS REALTY LP COMPANY GUARNT 03.500% FEB 01 2025	$134,056	$134,056
$105000 VENTAS REALTY LP/CAP CRP COMPANY GUARNT 04.250% MAR 01 2022	$107,187	$107,187
$170000 VERIZON COMMUNICATIONS GLB 04.125% MAR 16 2027	$168,239	$168,239
$90000 VISA INC GLB 02.800% DEC 14 2022	$88,346	$88,346
$105000 VISA INC GLB 03.150% DEC 14 2025	$101,575	$101,575
$170000 VODAFONE GROUP PLC GLB 04.375% MAY 30 2028	$167,979	$167,979
$185000 WALMART INC GLB 03.400% JUN 26 2023	$186,376	$186,376
$235000 WELLS FARGO & COMPANY SER MTN GLB 03.500% MAR 08 2022	$234,234	$234,234
$80000 WELLS FARGO & COMPANY GLB 03.000% OCT 23 2026	$73,867	$73,867
$50000 ZIMMER HOLDINGS INC GLB 03.550% APR 01 2025	$47,595	$47,595
$85000 ZIMMER HOLDINGS INC GLB 02.700% APR 01 2020	$84,176	$84,176
$220000 ZOETIS INC GLB 03.250% FEB 01 2023	$216,608	$216,608

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (549 entries)

StockStockNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
800277 shs LINCOLN ELEC HLDGS INC	$70,232,310	$70,232,310
34000 shs 888 HOLDINGS PLC GBP PAR ORDINARY	$121,016	$121,016
43000 shs ABACUS PROPERTY GRP AUD PAR ORDINARY	$119,772	$119,772
6250 shs ACCENTURE PLC SHS	$1,022,438	$1,022,438
38360 shs ACI WORLDWIDE INC	$946,341	$946,341
45361 shs ACS ACTIVIDADES CONS-UNS ADR	$372,658	$372,658
14475 shs ACTIVISION BLIZZARD INC	$1,104,732	$1,104,732
9204 shs ACTUANT CORP CL A	$270,137	$270,137
30728 shs ACXIOM CORP COM	$920,304	$920,304
1269 shs ADECCO GROUP AG 1.CHF PAR ORDINARY	$75,096	$75,096
11825 shs ADOBE SYSTEMS INC RSTD SHS	$2,883,053	$2,883,053
8363 shs ADTRAN INC COM	$124,191	$124,191
18785 shs AEGON NV AMSTERDAM .12 EUR PAR ORDINARY	$112,644	$112,644
35110 shs AERCAP HOLDINGS N.V. SHS	$1,901,206	$1,901,206
6789 shs AG MTG INVT TR INC	$127,565	$127,565
3799 shs AGL ENERGY LTD SHS 1.AUD PAR ORDINARY	$63,099	$63,099
17160 shs AHLSELL AB REG SHS SEK PAR ORDINARY	$101,374	$101,374
10922 shs AIA GROUP LTD SPONSORED ADR	$382,543	$382,543
13139 shs AIRBUS SE	$382,279	$382,279
7212 shs ALEXANDER & BALDWIN INC NEW	$169,482	$169,482
8425 shs ALEXION PHARMS INC	$1,045,964	$1,045,964
2604 shs ALFRESA HOLDINGS CO 2784 JPY PAR ORDINARY	$61,241	$61,241
21550 shs ALIBABA GROUP HOLDING LT	$3,998,171	$3,998,171
5350 shs ALIGN TECH INC DEL COM	$1,830,449	$1,830,449
3972 shs ALLERGAN PLC	$662,212	$662,212
22009 shs ALLSCRIPTS HEALTHCARE SOLUTIONS INC	$264,108	$264,108
4440 shs ALPHABET INC SHS CL A	$5,013,604	$5,013,604
4968 shs ALPHABET INC SHS CL C	$5,542,550	$5,542,550
4340 shs ALSTRIA OFFICE AG, HAMBU 1 EUR PAR ORDINARY	$65,366	$65,366
6086 shs AMAZON COM INC COM	$10,344,983	$10,344,983
6808 shs AMCOR LTD 1.AUD PAR ORDINARY	$72,483	$72,483
6700 shs ANADARKO PETE CORP	$490,775	$490,775
2051 shs ANDRITZ AG 1.EUR PAR ORDINARY	$108,861	$108,861
24940 shs AON PLC	$3,421,020	$3,421,020
2920 shs APERAM S.A. REG.SHS EUR PAR ORDINARY	$125,494	$125,494
10598 shs APOLLO COML REAL ESTATE FIN INC	$193,731	$193,731
19600 shs APOLLO INVESTMENT CORP	$109,172	$109,172
8641 shs APPLE INC	$1,599,535	$1,599,535
1585 shs APPLIED INDUSTRL TECH	$111,188	$111,188
10777 shs ARCELORMITTAL SA NY REG SHS	$310,162	$310,162
5054 shs ARMSTRONG WORLD INDS INC NEW	$319,413	$319,413
4559 shs ARTISAN PARTNERS ASSET MGMT INC CLASS A	$137,454	$137,454
1100 shs AS ONE CORPORATION 7476 JPY PAR ORDINARY	$76,369	$76,369
1230 shs ASM INTERNATIONAL .01NLG PAR ORDINARY	$68,013	$68,013
5499 shs ASM PACIFIC TECH LTD .1 HKD PAR ORDINARY	$69,530	$69,530
457 shs ASML HOLDING N.V. ORD SH	$90,547	$90,547
4730 shs ASR NEDERLAND N.V SHS EUR PAR ORDINARY	$193,177	$193,177
6337 shs ASSURED GUARANTY LTD	$226,421	$226,421
12258 shs ASTELLAS PHARMA INC JPY PAR ORDINARY	$186,915	$186,915
3950 shs ASTM SPA 1000.ITL PAR ORDINARY	$91,499	$91,499
1670 shs AT AND S AUSTRIA TECHNOL EUR PAR ORDINARY	$31,041	$31,041
21475 shs AT&T INC	$689,562	$689,562
1806 shs ATOS ORIGIN 1.EUR PAR ORDINARY	$246,600	$246,600
3202 shs AUSTRALIA AND NZ BK GRP 1.AUD PAR ORDINARY	$66,810	$66,810
3520 shs AVNET INC	$150,973	$150,973
4821 shs AXA 2.29EUR PAR ORD NEW	$118,288	$118,288
11897 shs AXA -SPONS ADR	$289,751	$289,751
14590 shs B AND M EUROPEAN VALUE R .1 GBP PAR ORDINARY	$77,839	$77,839
11130 shs BACHOCOB INDUSTRIAS BACHOCO SA	$54,178	$54,178
10699 shs BAE SYS PLC SPN ADR	$370,399	$370,399
19508 shs BAE SYSTEMS PLC GBP PAR ORDINARY	$166,585	$166,585
7231 shs BAIDU INC SPON ADR	$1,757,133	$1,757,133
11212 shs BANCO BILBAO VIZCAYA ARG .49EUR PAR ORDINARY	$79,512	$79,512
53767 shs BANCO SANTANDER SA ADR	$287,116	$287,116
7194 shs BANCORP (THE) BANK	$75,249	$75,249
57270 shs BANK OF AMERICA CORP	$1,614,441	$1,614,441
2890 shs BANK OF GEORGIA GROUP PL .01 GBP PAR ORDINARY	$71,923	$71,923
4600 shs BANK OF N T BUTTERFIELD AND SON LTD SHS	$210,312	$210,312
167240 shs BARCLAYS PLC ADR	$1,677,417	$1,677,417
22619 shs BARRATT DEV PLC 10P FN GBP PAR ORDINARY	$153,911	$153,911
17671 shs BAYER AG SP ADR	$487,366	$487,366
4010 shs BECTON DICKINSON CO	$960,636	$960,636
4260 shs BELLWAY PLC 12 1/2P GBP PAR ORDINARY	$168,953	$168,953
5922 shs BERKELEY GROUP HOLDINGS PAR ORDINARY	$295,931	$295,931
30705 shs BERKSHIRE HATHAWAYINC DEL CL B NEW	$5,731,088	$5,731,088
70000 shs BEST WORLD INTL LTD NPV SGD PAR ORDINARY	$63,658	$63,658
3244 shs BHP BILLITON LIMITED 1.AUD PAR ORDINARY	$81,276	$81,276
8486 shs BHP BILLITON PLC SP ADR	$381,446	$381,446
3984 shs BIO TECHNE CORP COM STK	$589,433	$589,433
10825 shs BIOMARIN PHARMACEUTICALS	$1,019,715	$1,019,715
4300 shs BIOTAGE AB SEK PAR ORDINARY	$55,180	$55,180
1587 shs BLACKROCK INC	$791,976	$791,976
4337 shs BLOOMIN BRANDS INC COMMON STOCK	$87,174	$87,174
5190 shs BLUESCOPE STEEL LTD AUD PAR ORDINARY	$66,185	$66,185
3072 shs BNP PARIBAS 2.EUR PAR ORDINARY	$190,777	$190,777
1000 shs BOBST GROUP AG 1.CHF PAR ORDINARY	$102,321	$102,321
985 shs BOOKING HLDGS INC USD0.008	$1,996,684	$1,996,684
4570 shs BRIDGESTONE CORP 5108 JPY PAR ORDINARY	$178,772	$178,772
3686 shs BRINKER INTL INC	$175,454	$175,454
4177 shs BRINKS CO	$333,116	$333,116
6834 shs BRITISH AMN TOBACO SPADR	$344,775	$344,775
4260 shs BRITVIC PLC, CHELMSFORD .2 GBP PAR ORDINARY	$43,813	$43,813
34607 shs BRIXMOR PPTY GROUP INC	$603,200	$603,200
1224 shs BROADRIDGE FINL SOLUTIONS INC	$140,882	$140,882
12065 shs BROOKLINE BANCORP INC	$224,409	$224,409
2705 shs BROTHER INDUSTRIES 6448 JPY PAR ORDINARY	$53,433	$53,433
49176 shs BT GROUP GBP0.05 .05GBP PAR ORDINARY	$141,406	$141,406
5300 shs BURFORD CAPITAL LTD SHS GBP PAR ORDINARY	$104,680	$104,680
34000 shs BWP TRUST AUD PAR ORDINARY	$81,641	$81,641
6097 shs CABOT CORP	$376,612	$376,612
5849 shs CALTEX AUSTRALIA LTD 1.AUD PAR ORDINARY	$140,622	$140,622
11178 shs CANADIAN NATURAL RES LTD	$403,190	$403,190
3567 shs CANON INC 7751 JPY PAR ORDINARY	$116,930	$116,930
535 shs CAPGEMINI SA 8.EUR PAR ORDINARY	$71,958	$71,958
5328 shs CARDTRONICS LTD-CL A	$128,831	$128,831
15563 shs CARLSBERG AS SPONSOREDAD	$366,353	$366,353
8150 shs CARNIVAL CORP PAIRED SHS	$467,077	$467,077
8065 shs CARPENTER TECHNOLOGY	$423,977	$423,977
87653 shs CARREFOUR SA SPONSORED ADR	$282,243	$282,243
70837 shs CATCHMARK TIMBER TR INC SHS CL A	$901,755	$901,755
2890 shs CATENA MEDIA PLC SHS EUR PAR ORDINARY	$39,703	$39,703
5217 shs CELANESE CORP DEL SER A	$579,400	$579,400
1150 shs CEMBRA MONEY BANK AG 1 CHF PAR ORDINARY	$90,395	$90,395
10148 shs CHATHAM LODGING TR	$215,341	$215,341
6212 shs CHEVRON CORP	$785,383	$785,383
46000 shs CHINA LILANG LTD PAR ORDINARY	$66,019	$66,019
5967 shs CHUBB LTD	$757,928	$757,928
8170 shs CIE AUTOMOTIVE SA, AZKOI PAR ORDINARY	$241,142	$241,142
1991 shs CIMIC GROUP LTD AUD PAR ORDINARY	$62,225	$62,225
18932 shs CISCO SYSTEMS INC COM	$814,644	$814,644
71600 shs CITIGROUP INC COM NEW	$4,791,472	$4,791,472
13437 shs CIVEO CORP SHS	$73,867	$73,867
4911 shs CK HUTCHISON HOLDINGS LT 1 HKD PAR ORDINARY	$52,080	$52,080
27943 shs CK HUTCHISON HOLDINGS LTD	$295,078	$295,078
5679 shs CLEAN HARBORS INC	$348,854	$348,854
18112 shs CNO FINL GROUP INC	$344,853	$344,853
2600 shs COGECO COMMUNICATIONS INC SHS	$128,710	$128,710
9711 shs COLGATE PALMOLIVE	$629,370	$629,370
1000 shs COLLIERS INTERNTNL GRP I	$75,700	$75,700
72114 shs COLONY CAPITAL INC REG SHS CL A	$449,991	$449,991
3738 shs COLUMBIA SPORTSWEAR CO	$341,915	$341,915
100995 shs COMCAST CORP NEW CL A	$3,313,646	$3,313,646
58690 shs COMFORTDELGRO CORP LTD SGD PAR ORDINARY	$101,152	$101,152
13087 shs COMMERCIAL METALS CO COM	$276,267	$276,267
3679 shs COMMONWEALTH BANK OF AU ORDINARY FULLY PAID 2. AUD PAR ORDINARY	$198,077	$198,077
2000 shs CONEXIO CORPORATION JPY PAR ORDINARY	$34,776	$34,776
8706 shs CONVERGYS CORP	$212,775	$212,775
5385 shs COPART INC COM	$304,576	$304,576
4400 shs COSMO ENERGY HOLDINGS CO LTD SHS 5021 JPY PAR ORDINARY	$154,525	$154,525
3325 shs COSTAR GROUP INC COM	$1,371,995	$1,371,995
24795 shs COVANTA HLDG CORP	$409,117	$409,117
3839 shs COVESTRO AG AKT. EUR PAR ORDINARY	$343,607	$343,607
7061 shs CROWN HLDGS INC	$294,745	$294,745
3000 shs CVS GROUP PLC, NORFOLK GBP PAR ORDINARY	$45,073	$45,073
10870 shs CVS HEALTH CORP	$699,485	$699,485
10998 shs CYBER-ARK SOFTWARE LTD	$692,434	$692,434
12359 shs CYRUSONE INC	$721,271	$721,271
13200 shs DAH SING FINANCIAL HLDGS 2.HKD PAR ORDINARY	$77,058	$77,058
3839 shs DAIMLER A EUR PAR ORDINARY	$248,001	$248,001
18567 shs DAIMLER AG ADR	$297,908	$297,908
732 shs DAITO TRUST CONSTR 1878 JPY PAR ORDINARY	$119,020	$119,020
11605 shs DAIWA SECURITIES GRP INC JPY PAR ORDINARY	$67,398	$67,398
2887 shs DANONE S.A 1.EUR PAR ORDINARY	$211,917	$211,917
4200 shs DBS GROUP HLDGS SPN ADR	$330,015	$330,015
8160 shs DERICHEBOURG 15.FRF PAR ORDINARY	$51,637	$51,637
27009 shs DEUTSCHE BOERSE AG SHS	$358,139	$358,139
8323 shs DEUTSCHE POST AG SHS SP ADR	$270,373	$270,373
5834 shs DEXCOM INC	$554,113	$554,113
3060 shs DFDS AS EUR PAR ORDINARY	$195,353	$195,353
2300 shs DIP CORP 2379 JPY PAR ORDINARY	$59,117	$59,117
33120 shs DIPLOMAT PHARMACY ORD	$846,547	$846,547
64175 shs DISH NETWORK CORPORATION CLASS A	$2,156,922	$2,156,922
5602 shs DISNEY (WALT) CO COM STK	$587,146	$587,146
17850 shs DNB ASA SP ADR	$348,075	$348,075
3951 shs DOLBY LABORATORIES INC CL A	$243,737	$243,737
15100 shs DREAM GLOBAL REAL ESTATE INVESTM TR	$164,838	$164,838
9565 shs DRIL QUIP	$491,641	$491,641
9929 shs DSW INC	$256,367	$256,367
1020 shs DUERR BETEILIGUNGS AG 5.DEM PAR ORDINARY	$47,481	$47,481
32085 shs E.ON SE ADR	$341,866	$341,866
1585 shs EAGLE MATERIALS INC	$166,377	$166,377
1497 shs EAST JAPAN RAILWAY 9020 JPY PAR ORDINARY	$143,462	$143,462
18735 shs ECOLAB INC	$2,629,083	$2,629,083
10475 shs EDWARDS LIFESCIENCES CRP	$1,524,846	$1,524,846
6518 shs EL PASO ELECTRIC CO NEW	$385,214	$385,214
6088 shs ENERGIZER HOLDINGS INC SHS	$383,300	$383,300
21307 shs ENGIE SHS	$326,317	$326,317
2600 shs EPS HOLDINGS INC JPY PAR ORDINARY	$55,772	$55,772
27000 shs EQUINITI GROUP PLC SHS GBP PAR ORDINARY	$88,047	$88,047
5396 shs ESSILOR INTL SA ADR	$380,688	$380,688
155000 shs ESSO THAILAND PUBLIC CO 10 THB PAR ORDINARY	$54,265	$54,265
1290 shs EURONEXT NV SHS 1.6 EUR PAR ORDINARY	$82,009	$82,009
24240 shs EVRAZ PLC SHS 2 USD PAR ORDINARY	$162,701	$162,701
14125 shs FACEBOOK INC CLASS A COMMON STOCK	$2,744,770	$2,744,770
8139 shs FAST RETAILING CO LTD SHS	$372,563	$372,563
10004 shs FIDELITY NATL INFO SVCS INC	$1,060,724	$1,060,724
7800 shs FINL PRODUCTS GROUP CO LT 7148 JPY PAR ORDINARY	$100,629	$100,629
40250 shs FIREEYE INC	$619,448	$619,448
37815 shs FIRST HORIZON NTNL CORP	$674,620	$674,620
12660 shs FIRST INTST BANCSYSTEM INC COM CL A	$534,252	$534,252
9076 shs FIRST MIDWST BANCORP DEL	$231,166	$231,166
2222 shs FLIGHT CENTRE TRAVEL GRP .01AUD PAR ORDINARY	$104,496	$104,496
12549 shs FLOOR AND DECOR HLDGS INC	$619,042	$619,042
24971 shs FORTESCUE METALS GROUP AUD PAR ORDINARY	$80,993	$80,993
37421 shs FORUM ENERGY TECHNOLOGS INC COMMON STOCK	$462,149	$462,149
24430 shs FRANKLIN STR PPTYS CORP	$209,121	$209,121
4330 shs FREENET AG AKT. EUR PAR ORDINARY	$112,939	$112,939
27033 shs FRESHPET INC SHS	$843,154	$843,154
6100 shs FUJI CORPORATION 6134 JPY PAR ORDINARY	$109,372	$109,372
1000 shs FUJIBO HOLDINGS INC 50.JPY PAR ORDINARY	$32,501	$32,501
2100 shs FUJIMI INCORPORATED 5384 JPY PAR ORDINARY	$46,544	$46,544
11279 shs FUJITSU LTD 6702 JPY PAR ORDINARY	$68,407	$68,407
4100 shs GAM HLDG LTD .05 CHF PAR ORDINARY	$56,568	$56,568
68750 shs GENERAL MOTORS CO COMMON SHARES	$2,708,750	$2,708,750
23367 shs GENERALI ASSICURAZIONI 1.EUR PAR ORDINARY	$392,045	$392,045
2283 shs GENESCO INC	$90,635	$90,635
95899 shs GENMARK DIAGNOSTICS INC	$611,836	$611,836
7391 shs GENTHERM INC	$290,466	$290,466
7300 shs GENWORTH MI CANADA INC SHS	$237,404	$237,404
2890 shs GEORGIA CAPITAL PLC REG .01 GBP PAR ORDINARY	$39,300	$39,300
9746 shs GLATFELTER	$190,924	$190,924
17781 shs GLAUKOS CORP SHS	$722,620	$722,620
5368 shs GLOBAL DOMINION ACCESS S .12 EUR PAR ORDINARY	$29,112	$29,112
997 shs GLOBAL PMTS INC GEORGIA	$111,155	$111,155
6675 shs GOLDMAN SACHS GROUP INC	$1,472,305	$1,472,305
6342 shs GRAND CANYON EDUCATN INC	$707,831	$707,831
4850 shs GRANITE REAL ESTATE INVT	$197,735	$197,735
2354 shs GUESS INC COM	$50,376	$50,376
63894 shs HABIT RESTAURANTS INC CL A	$638,940	$638,940
2304 shs HAEMONETICS CORP MASS	$206,623	$206,623
4937 shs HARSCO CORPORATION	$109,108	$109,108
23615 shs HEALTH CARE SVCS GROUP	$1,019,932	$1,019,932
24705 shs HEALTHSTREAM INC TENN	$674,694	$674,694
36503 shs HEARTLAND EXPRESS INC	$677,131	$677,131
8770 shs HEMFOSA FASTIGHETER AB S SEK PAR ORDINARY	$102,738	$102,738
5099 shs HERMAN MILLER INC COM	$172,856	$172,856
81000 shs HI P INTERNATIONAL LTD .05SGD PAR ORDINARY	$70,689	$70,689
1325 shs HITACHI HIGH-TECH 8036 JPY PAR ORDINARY	$54,069	$54,069
29510 shs HMS HLDGS CORP	$638,006	$638,006
5884 shs HONEYWELL INTL INC DEL	$847,590	$847,590
25592 shs HOPE BANCORP INC SHS	$456,305	$456,305
28530 shs HOWDEN JOINERY ORD 10P	$201,967	$201,967
7223 shs HSBC HLDG PLC SP ADR	$340,492	$340,492
31467 shs HSBC HOLDINGS PLC .5USD PAR ORDINARY	$295,255	$295,255
1913 shs HYSTER-YALE MATLS HNDLNG INC CL A	$122,910	$122,910
22086 shs IBERDROLA SA, BILBAO .75 EUR PAR ORDINARY	$170,809	$170,809
36000 shs IGG INC HKD PAR ORDINARY	$46,069	$46,069
3469 shs IIDA GROUP HOLDINGS CO LTD. SHS 3291 JPY PAR ORDINARY	$66,927	$66,927
6500 shs ILLUMINA INC COM	$1,815,385	$1,815,385
12648 shs IMPERIAL BRANDS PLC .10GBP PAR ORDINARY	$471,232	$471,232
10000 shs INDIVIOR PLC SHS 2 USD PAR ORDINARY	$50,591	$50,591
35000 shs INDO TAMBANGRAYA MEGAH P 500 IDR PAR ORDINARY	$54,660	$54,660
7821 shs INGERSOLL-RAND PLC	$701,778	$701,778
15897 shs INNOPHOS HLDGS INC	$756,697	$756,697
5630 shs INSULET CORP	$482,491	$482,491
29044 shs INSURANCE AUSTRALIA GRP AUD PAR ORDINARY	$183,044	$183,044
30041 shs INTESA SANPAOLO SPA EUR PAR ORDINARY	$87,212	$87,212
16724 shs INTESA SANPAOLO SPON ADR	$290,329	$290,329
16431 shs INTL CONSOLIDATED .5 EUR PAR ORDINARY	$144,302	$144,302
4550 shs INTRUM AB .02SEK PAR ORDINARY	$105,739	$105,739
5709 shs INVESTM TECH GRP INC NEW	$119,432	$119,432
64946 shs INVESTORS BANCORP INC NEW	$830,659	$830,659
185 shs INVINCIBLE INVESTMENT JPY PAR ORDINARY	$83,343	$83,343
1650 shs IPSEN PROMESSES 1 EUR PAR ORDINARY	$258,820	$258,820
9024 shs ITOCHU CORP ORD 8001 JPY PAR ORDINARY	$163,550	$163,550
1100 shs JAFCO CO LTD 8595 JPY PAR ORDINARY	$44,739	$44,739
4154 shs JANUS HENDERSON GROUP PLC	$127,652	$127,652
7199 shs JAPAN TOBACCO INC 2914 JPY PAR ORDINARY	$201,154	$201,154
15000 shs JD SPORTS FASHION PLC RE GBP PAR ORDINARY	$87,255	$87,255
5100 shs JM AB 'B ORD SEK PAR ORDINARY	$91,214	$91,214
5633 shs JOHNSON AND JOHNSON COM	$683,508	$683,508
13000 shs JOHNSON ELEC HOLDINGS LT .05 HKD PAR ORDINARY	$37,862	$37,862
28915 shs JPMORGAN CHASE & CO	$3,012,943	$3,012,943
10500 shs JUKI CORP 6440 JPY PAR ORDINARY	$105,791	$105,791
30042 shs JULIUS BAER GROUP ADR	$349,388	$349,388
22380 shs JUPITER PLC SHS .02 GBP PAR ORDINARY	$131,780	$131,780
14183 shs JX HOLDINGS INC JPY PAR ORDINARY	$98,620	$98,620
1700 shs KAGA ELECTRONICS CO 8154 50.JPY PAR ORDINARY	$40,380	$40,380
17655 shs KAJIMA CORP 1812 FN JPY PAR ORDINARY	$136,757	$136,757
2200 shs KAKEN PHARMACEUTICL 4521 JPY PAR ORDINARY	$113,014	$113,014
3700 shs KANAMOTO CO LTD 9678 JPY PAR ORDINARY	$117,081	$117,081
1718 shs KAO CORP 4452 JPY PAR ORDINARY	$131,062	$131,062
1100 shs KAWADA TECHNOLOGIES INC 3443 JPY PAR ORDINARY	$71,205	$71,205
2348 shs KDDI CORPORATION 9433 5000.JPY PAR ORDINARY	$64,251	$64,251
6680 shs KENNAMETAL INC	$239,812	$239,812
22929 shs KEYCORP NEW COM	$448,033	$448,033
12350 shs KINDRED GROUP PLC SEK PAR ORDINARY	$155,720	$155,720
6613 shs KITE REALTY GROUP TR SHS	$112,950	$112,950
3772 shs KLEPIERRE ORD EUR 8 EUR PAR ORDINARY	$142,029	$142,029
6375 shs KLX INC SHS	$458,362	$458,362
1900 shs KOBAYASHI PHARM 4967 JPY PAR ORDINARY	$164,158	$164,158
5600 shs KOKUYO CO LTD FN JPY PAR ORDINARY	$99,446	$99,446
7116 shs KONICA MINOLTA INC 50.JPY PAR ORDINARY	$66,107	$66,107
7447 shs KONINKLIJKE AHOLD .01 EUR PAR ORDINARY	$178,286	$178,286
5248 shs KONINKLIJKE PHILIPS NV .2EUR PAR ORDINARY	$223,187	$223,187
4123 shs KOPPERS HLDGS INC	$158,117	$158,117
10600 shs KYOWA EXEO CORP 1951 JPY PAR ORDINARY	$278,385	$278,385
40669 shs LANTHEUS HLDGS INC	$591,734	$591,734
1260 shs LEG IMMOBILIEN AG NAMEN- EUR PAR ORDINARY	$136,607	$136,607
37725 shs LIBERTY BROADBAND CORP SHS SERIES SER -C- CL C	$2,856,537	$2,856,537
116374 shs LIBERTY GLOBAL PLC CL C	$3,096,712	$3,096,712
15863 shs LIBERTY LATIN AMERICA LTD REG SHS CL C	$307,425	$307,425
99747 shs LLOYDS BANKING GROUP PLC ADR	$332,157	$332,157
2219 shs LOCKHEED MARTIN CORP	$655,559	$655,559
1460 shs LOGITECH INTL SA, APPLES .25 CHF PAR ORDINARY	$64,211	$64,211
11352 shs LOWE'S COMPANIES INC	$1,084,911	$1,084,911
5475 shs LOXO ONCOLOGY INC SHS	$949,803	$949,803
4515 shs M T S SYSTEMS CORP COM	$237,715	$237,715
1541 shs MACQUARIE GROUP LTD AUD PAR ORDINARY	$140,784	$140,784
42000 shs MACQUARIE MEXICO REAL ES MXN PAR ORDINARY	$42,071	$42,071
12700 shs MAEDA CORP 1824 JPY PAR ORDINARY	$146,072	$146,072
8000 shs MAKINO MILLING MACH 6135 JPY PAR ORDINARY	$62,258	$62,258
50840 shs MARKS & SPENCER NEW ORD .25GBP PAR ORDINARY	$198,073	$198,073
22790 shs MARRIOTT INTL INC NEW A	$2,885,214	$2,885,214
10632 shs MARSH & MCLENNAN COS INC	$871,505	$871,505
8449 shs MARUBENI CORP 8002 FN JPY PAR ORDINARY	$64,462	$64,462
8521 shs MATSON INC COM	$327,036	$327,036
2400 shs MATSUMOTOKIYOSHI JPY PAR ORDINARY JPY PAR ORDINARY	$107,795	$107,795
11000 shs MCJ CO LTD 6670 JPY PAR ORDINARY	$84,115	$84,115
23440 shs MEDIASET ESPANA COMUNICA .5 EUR PAR ORDINARY	$197,646	$197,646
10008 shs MEDTRONIC PLC SHS	$856,785	$856,785
19000 shs MEIDENSHA CORP 6508 FN JPY PAR ORDINARY	$68,613	$68,613
1300 shs MEITEC CORP 9744 FN JPY PAR ORDINARY	$62,438	$62,438
59000 shs MELCO INTL DEV LTD .5HKD PAR ORDINARY	$181,614	$181,614
19980 shs MERCURY SYSTEMS INC	$760,439	$760,439
70000 shs METCASH LTD AUD PAR ORDINARY	$134,981	$134,981
94161 shs MICROSOFT CORP	$9,285,216	$9,285,216
5310 shs MINERAL RESOURCES LTD AUD PAR ORDINARY	$62,811	$62,811
68657 shs MIRVAC GROUP FN AUD PAR ORDINARY	$110,078	$110,078
23000 shs MITIE GRP ORD GBP0.025 GBP PAR ORDINARY	$47,461	$47,461
13012 shs MITSUBISHI CHEMICAL HOLDINGS 4188 JPY PAR ORDINARY	$108,944	$108,944
4998 shs MITSUBISHI CRP 8058 FN 50.JPY PAR ORDINARY	$138,886	$138,886
3991 shs MITSUI CHEMICALS 4183 JPY PAR ORDINARY	$106,292	$106,292
3350 shs MONCLER S.P.A. AZ. EUR PAR ORDINARY	$152,540	$152,540
16323 shs MONDELEZ INTERNATIONAL INC	$669,243	$669,243
15875 shs MONRO INC	$922,338	$922,338
28225 shs MONSTER BEVERAGE SHS	$1,617,292	$1,617,292
2370 shs MORGAN SINDALL GROUP PLC MORGAN SINDALL GROUP PLC	$44,995	$44,995
18325 shs MORGAN STANLEY	$868,605	$868,605
2800 shs MORINAGA 2201 FN JPY PAR ORDINARY	$134,230	$134,230
13133 shs MRC GLOBAL INC	$284,592	$284,592
3315 shs MS&AD INSURANCE GROUP HD JPY PAR ORDINARY JPY PAR ORDINARY	$102,069	$102,069
310 shs MTU AERO ENGINES AG EUR PAR ORDINARY	$59,503	$59,503
30000 shs MYOB LIMITED-DEAD AUD PAR ORDINARY	$64,056	$64,056
5610 shs NATIONAL AUSTRALIA BANK 1.AUD PAR ORDINARY	$113,613	$113,613
10806 shs NATIONAL GENERAL HOLDINGS CORP SHS	$284,522	$284,522
47907 shs NATIXIS 100.FRF PAR ORDINARY	$339,962	$339,962
7980 shs NCR CORP NEW	$212,438	$212,438
45156 shs NEOGENOMICS INC	$591,995	$591,995
3440 shs NESTLE SA CHAM UND VEVE	$266,414	$266,414
5400 shs NETENT AB SEK PAR ORDINARY	$28,913	$28,913
11475 shs NETFLIX COM INC	$4,491,659	$4,491,659
5272 shs NEW RELIC INC	$530,310	$530,310
21000 shs NEWRIVER REIT PLC PAR ORDINARY	$74,857	$74,857
3110 shs NEXITY	$196,441	$196,441
6415 shs NEXTERA ENERGY INC SHS	$1,071,497	$1,071,497
2900 shs NFI GROUP INC REG SHS	$108,112	$108,112
3200 shs NICHIHA CORP. 7943 JPY PAR ORDINARY	$121,049	$121,049
2200 shs NICHIREI CO 2871 FN JPY PAR ORDINARY	$55,970	$55,970
14222 shs NIELSEN HOLDINGS PLC SHS	$439,886	$439,886
107000 shs NINE ENTERTAINMENT CO AUD PAR ORDINARY	$196,056	$196,056
815 shs NIPPON EXPRESS 9062 JPY PAR ORDINARY	$59,158	$59,158
63000 shs NIPPON LIGHT METAL HOLDINGS 5703 JPY PAR ORDINARY	$141,618	$141,618
6100 shs NIPPON SUISAN 1332 FN JPY PAR ORDINARY	$30,069	$30,069
1600 shs NIPPON TEL & TEL 9432 JPY PAR ORDINARY	$72,745	$72,745
1300 shs NISHIO RENT ALL CO JPY PAR ORDINARY	$41,723	$41,723
5200 shs NISSAN CHEMICAL 4021 JPY PAR ORDINARY	$242,711	$242,711
9800 shs NISSIN ELEC CO LTD FN JPY PAR ORDINARY	$90,332	$90,332
40600 shs NOBLE ENERGY INC	$1,432,368	$1,432,368
1600 shs NOEVIR HOLDINGS CO LTD 4928 JPY PAR ORDINARY	$115,415	$115,415
2200 shs NOMURA CO JPY PAR ORDINARY	$48,602	$48,602
3200 shs NORBORD INC	$131,584	$131,584
45183 shs NORDEA BANK AB SEK PAR ORDINARY	$435,767	$435,767
1030 shs NOVARTIS AG REG CHF0.5 50.CHF PAR ORDINARY	$78,089	$78,089
7410 shs NOVO NORDISK A/S SHS .2 DKK PAR ORDINARY	$343,705	$343,705
5024 shs NTT DOCOMO INC JPY PAR ORDINARY	$128,021	$128,021
8692 shs OAKTREE SPECIALTY LENDING CORP	$41,548	$41,548
7977 shs OBAYASHI CORP 1802 FN JPY PAR ORDINARY	$83,035	$83,035
14326 shs OMNICELL INC	$751,399	$751,399
95535 shs ORACLE CORP $0.01 DEL	$4,209,272	$4,209,272
21077 shs ORANGE ADR	$351,354	$351,354
1250 shs ORBOTECH LTD COM	$77,250	$77,250
2290 shs ORIFLAME HLDG AG NAMEN-A 1.5 CHF PAR ORDINARY	$73,927	$73,927
3331 shs OSAKA GAS 9532 FN JPY PAR ORDINARY	$68,941	$68,941
15539 shs OTSUKA HOLDINGS CO LTD SHS ADR	$375,888	$375,888
7328 shs PACKAGING CORP AMERICA	$819,197	$819,197
9150 shs PALO ALTO NETWORKS INC COM	$1,880,050	$1,880,050
4183 shs PANASONIC CORP 50.JPY PAR ORDINARY	$56,401	$56,401
1800 shs PARAMOUNT BED HOLDINGS CO LTD 7817 JPY PAR ORDINARY	$77,190	$77,190
6000 shs PAREX RESOURCES INC SHS	$113,208	$113,208
15793 shs PATTERSON UTI ENERGY INC	$284,274	$284,274
8498 shs PAYLOCITY HLDG CORP	$500,192	$500,192
3384 shs PBF ENERGY INC CL A	$141,891	$141,891
6960 shs PEAB AB SER'B'SHS 10.SEK PAR ORD CL'B'	$52,632	$52,632
5149 shs PEBBLEBROOK HOTEL TRUST	$199,781	$199,781
14300 shs PENTA OCEAN CONS 1893 JPY PAR ORDINARY	$95,793	$95,793
7715 shs PEPSICO INC	$839,932	$839,932
22624 shs PFIZER INC	$820,799	$820,799
13216 shs PHILIP MORRIS INTL INC	$1,067,060	$1,067,060
6770 shs PHILIPS LIGHTING NV .01 EUR PAR ORDINARY	$175,870	$175,870
11421 shs PHILLIPS 66 SHS	$1,282,692	$1,282,692
8814 shs PORTLAND GEN ELEC CO	$376,887	$376,887
2181 shs POTLATCHDELTIC CORP	$110,904	$110,904
5517 shs PRAXAIR INC	$872,514	$872,514
6250 shs PRESTIGE BRANDS HLDG INC	$239,875	$239,875
51000 shs QINETIQ GROUP PLC, LONDO GBP PAR ORDINARY	$181,596	$181,596
22581 shs QUOTIENT TECHNOLOGY INC	$295,811	$295,811
17361 shs RANGE RESOURCES CORP DEL	$290,450	$290,450
8397 shs RAYONIER INC REIT	$324,880	$324,880
1644 shs RECKITT BENCKISER GROUP GBP PAR ORDINARY	$135,417	$135,417
3200 shs RECORDATI SPA EUR PAR ORDINARY	$127,253	$127,253
9406 shs RED ELECTRICA CORPORACIO EUR PAR ORDINARY	$191,525	$191,525
14900 shs REDROW PLC 10P GBP PAR ORDINARY	$104,850	$104,850
3275 shs REGENERON PHARMACTCLS	$1,129,842	$1,129,842
780 shs REPLY SPA EUR PAR ORDINARY	$53,002	$53,002
20888 shs REPSOL SA 3.EUR PAR ORDINARY	$408,860	$408,860
11819 shs RETAIL PROPERTIES OF AMERICA INC SHS CL A	$151,047	$151,047
1180 shs RHI-MAG N.V. REG SHS 1 EUR PAR ORDINARY	$71,663	$71,663
2040 shs RIGHTMOVE PLC, LON GBP PAR ORDINARY	$143,015	$143,015
1292 shs RIO TINTO LTD 2.AUD PAR ORDINARY	$79,651	$79,651
9224 shs RIO TINTO PLC GBP PAR ORDINARY	$511,597	$511,597
17032 shs RITCHIE BROS AUCTIONEERS	$581,132	$581,132
12365 shs ROCHE HLDG LTD SPN ADR	$341,645	$341,645
2090 shs ROCHE HOLDINGS GENUSH FN CHF PAR ORDINARY	$464,222	$464,222
3500 shs ROLAND DG CORP 6789 JPY PAR ORDINARY	$77,005	$77,005
16463 shs ROY DUT SHELL PLC B LON .07GBP PAR ORDINARY	$589,785	$589,785
14565 shs ROYAL DSM N V SPON ADR	$365,946	$365,946
5460 shs ROYAL DUTCH SHELL PLC SPONS ADR A	$377,996	$377,996
21203 shs ROYAL MAIL PLC SHS .01 GBP PAR ORDINARY	$141,477	$141,477
4440 shs ROYAL UNIBREW A/S SHS 2 DKK PAR ORDINARY	$353,794	$353,794
5480 shs RPC GROUP PLC GBP PAR ORDINARY	$54,132	$54,132
9392 shs RUSH ENTERPRISES IN CL A	$407,425	$407,425
2212 shs RYMAN HOSPITALITY PPTYS INC	$183,928	$183,928
11150 shs SAFESTORE HOLDINGS LTD GBP PAR ORDINARY	$80,890	$80,890
2700 shs SAIZERIYA CO LTD 7581 JPY PAR ORDINARY	$61,793	$61,793
24300 shs SALESFORCE COM INC	$3,314,520	$3,314,520
10393 shs SALLY BEAUTY HLDGS INC	$200,936	$200,936
2490 shs SALMAR ASA .25 NOK PAR ORDINARY	$104,422	$104,422
11440 shs SANDFIRE RESOURCES NL AUD PAR ORDINARY	$77,424	$77,424
1300 shs SANKYU 9065 82 JPY PAR ORDINARY	$68,307	$68,307
2685 shs SANOFI 2.EUR PAR ORDINARY	$215,209	$215,209
1400 shs SANYO DENKI CO 6516 FN JPY PAR ORDINARY	$99,724	$99,724
3247 shs SAP SE SHS	$375,548	$375,548
12170 shs SAVILLS GBP PAR ORDINARY	$139,786	$139,786
12901 shs SCHLUMBERGER LTD	$864,754	$864,754
29225 shs SCHWAB CHARLES CORP NEW	$1,493,398	$1,493,398
1500 shs SCOUT24 HLDG GMBH NAMEN- EUR PAR ORDINARY	$79,930	$79,930
600 shs SCREEN HOLDINGS JPY PAR ORDINARY	$42,251	$42,251
786 shs SECOM CO LTD 9735 JPY PAR ORDINARY	$60,366	$60,366
19020 shs SECOM CO LTD ADR	$363,662	$363,662
2900 shs SEIREN 3569 17 JPY PAR ORDINARY	$45,189	$45,189
5915 shs SEKISUI HOUSE LTD 1928 JPY PAR ORDINARY	$104,666	$104,666
18600 shs SERVICENOW INC	$3,207,942	$3,207,942
1285 shs SEVEN AND I HOLDINGS CO 50.JPY PAR ORDINARY JPY PAR ORDINARY	$56,045	$56,045
17096 shs SEVEN AND I HOLDINGS CO LTD SHS	$371,752	$371,752
76000 shs SHENZHEN EXPRESSWAY-H SH 1.HKD PAR ORDINARY	$74,586	$74,586
1800 shs SHOEI FOODS CORP 8079 JPY PAR ORDINARY	$63,296	$63,296
3582 shs SIEMENS AG GERM EUR PAR ORDINARY	$473,421	$473,421
4368 shs SILICON LABS INC	$435,053	$435,053
1130 shs SILTRONIC AG NAMEN-AKT. EUR PAR ORDINARY	$162,739	$162,739
3776 shs SIMMONS 1ST NTL A $5	$112,902	$112,902
7344 shs SIMPSON MFG DEL PV $0.01	$456,723	$456,723
8000 shs SINFONIA TECHNOLOGY JPY PAR ORDINARY	$28,456	$28,456
12584 shs SKANSKA AB CL B SEK 12 12.SEK PAR ORD CL B	$229,004	$229,004
32410 shs SMITH (DAVID S) HLDG PLC .1GBP PAR ORDINARY	$223,016	$223,016
9713 shs SMITH-NPHW PLC SPADR NEW	$364,529	$364,529
2418 shs SOTHEBY'S (DELAWARE)	$131,394	$131,394
4150 shs SPAREBANKEN MIDT-NORGE 100.NOK PAR ORDINARY	$43,025	$43,025
24000 shs SPEEDCAST INTL LTD SHS AUD PAR ORDINARY	$109,409	$109,409
14125 shs SPLUNK INC COMMON SHARES	$1,399,929	$1,399,929
37381 shs SPROUTS FARMERS MARKETS INC SHS	$824,998	$824,998
146000 shs STAR PETROLEUM REFINING 6.92 THB PAR ORDINARY	$57,276	$57,276
13900 shs STARBUCKS CORP	$679,015	$679,015
6600 shs STARS GROUP INC	$239,580	$239,580
6836 shs STARWOOD PPTY TR INC COMMON STOCK	$148,409	$148,409
135 shs STRAUMANN HLDGS 6.CHF PAR ORDINARY	$102,649	$102,649
5282 shs SUBARU CORP JPY PAR ORDINARY	$153,789	$153,789
10370 shs SUBSEA 7 SA 2.NOK PAR ORDINARY	$165,847	$165,847
5976 shs SUMITOMO MITSUI FIN 8316 50000.JPY PAR ORDINARY	$232,316	$232,316
66802 shs SUMITOMO MITSUI-UNSPONS ADR	$519,051	$519,051
4819 shs SUMITOMO RUBBER 5110 JPY PAR ORDINARY	$76,571	$76,571
6092 shs SWEDBANK AB 20.SEK PAR ORDINARY	$130,611	$130,611
241 shs SWISSCOM AG (REGD) 1.CHF PAR ORDINARY	$107,570	$107,570
600 shs SWISSQUOTE GROUP HLD 10.CHF PAR ORDINARY	$33,174	$33,174
3420 shs SYDBANK A/S DKK PAR ORDINARY	$117,582	$117,582
6853 shs SYKES ENTERPRISES INC	$197,229	$197,229
2713 shs SYNTEL INC COM	$87,060	$87,060
7700 shs TAKUMA 6013 41 JPY PAR ORDINARY	$93,847	$93,847
81963 shs TAYLOR WIMPEY PLC 25P FN GBP PAR ORDINARY	$193,588	$193,588
7360 shs TCF FINANCIAL CORP COM	$181,203	$181,203
750 shs TEMENOS GROUP AG 5.CHF PAR ORDINARY	$113,299	$113,299
4300 shs TENNECO INC DEL	$189,028	$189,028
5288 shs TEREX CORP DEL NEW COM	$223,101	$223,101
25855 shs TETRA TECHNOLOGIES INC	$115,055	$115,055
6598 shs TEXAS INSTRUMENTS	$727,430	$727,430
1800 shs T-GAIA CORP 50000.JPY PAR ORDINARY	$45,989	$45,989
10700 shs THERMO FISHER SCIENTIFIC INC	$2,216,398	$2,216,398
29636 shs THERMON GROUP HLDGS INC	$677,775	$677,775
2250 shs THQ NORDIC AB REG SHS SEK PAR ORDINARY	$44,768	$44,768
3400 shs TIETO OYJ EUR PAR ORDINARY	$110,198	$110,198
14000 shs TODA CORP 1860 JPY PAR ORDINARY	$121,842	$121,842
600 shs TOEI CO LTD 50Y 9605 FN JPY PAR ORDINARY	$61,481	$61,481
4900 shs TOHO HOLDINGS JPY PAR ORDINARY	$119,574	$119,574
1417 shs TOKIO MARINE HOLDINGS IN 100.JPY PAR ORDINARY	$66,433	$66,433
602 shs TOKYO ELECTRON 8035 FN JPY PAR ORDINARY	$103,372	$103,372
9900 shs TOKYO STEEL 5423 33 JPY PAR ORDINARY	$87,948	$87,948
9500 shs TOMY COMPANY LTD JPY PAR ORDINARY	$78,905	$78,905
17968 shs TORAY INDUSTRYS INC ADR	$282,637	$282,637
10821 shs TOSOH CORPORATION 4042 JPY PAR ORDINARY	$190,262	$190,262
6162 shs TOTAL S.A. SP ADR	$373,171	$373,171
9800 shs TRANSCONTINENTAL CLASS A	$227,445	$227,445
6855 shs TRI POINTE GROUP INC	$112,148	$112,148
1120 shs TRIGANO FRF100 EUR PAR ORDINARY	$199,025	$199,025
34200 shs TRIPADVISOR INC SHS	$1,905,282	$1,905,282
4500 shs TUPPERWARE BRANDS CORP	$185,580	$185,580
63625 shs TWENTY-FIRST CENTURY FOX INC CLASS A	$3,161,526	$3,161,526
12950 shs TWENTY-FIRST CENTURY FOX INC CLASS B	$638,047	$638,047
7200 shs U S SILICA HLDGS INC COMMON STOCK	$184,968	$184,968
6490 shs UDG HEALTHCARE PLC GBP PAR ORDINARY	$70,775	$70,775
5400 shs ULVAC INC 6728 JPY PAR ORDINARY	$206,707	$206,707
84000 shs UMS HOLDINGS LTD .05SGD PAR ORDINARY	$51,131	$51,131
2228 shs UNILEVER PLC .03 GBP PAR ORDINARY	$123,308	$123,308
6581 shs UNION PACIFIC CORP	$932,396	$932,396
5310 shs UNIPER SE NAMEN-AKT. EUR PAR ORDINARY	$157,534	$157,534
6109 shs UNITED BKSHRS INC W.V.	$222,368	$222,368
15950 shs UNITED PARCEL SVC CL B	$1,694,368	$1,694,368
25078 shs UNITEDHEALTH GROUP INC	$6,152,636	$6,152,636
5415 shs UPM-KYMMENE OY CORP FN EUR PAR ORDINARY	$193,588	$193,588
15087 shs VERIFONE SYSTEMS INC	$344,285	$344,285
6626 shs VERINT SYSTEMS INC	$293,863	$293,863
48903 shs VICINITY CENTERS AUD PAR ORDINARY	$93,581	$93,581
31900 shs VISA INC CL A SHRS	$4,225,155	$4,225,155
1470 shs VOLKERWESSELS B.V REG SH .01 EUR PAR ORDINARY	$37,793	$37,793
21150 shs W R BERKLEY CORP	$1,531,472	$1,531,472
5341 shs WADDELL & REED FINL A	$95,978	$95,978
20336 shs WAGEWORKS INC	$1,016,800	$1,016,800
11420 shs WEC ENERGY GROUP INC SHS	$738,303	$738,303
81855 shs WELLS FARGO & CO NEW DEL	$4,538,041	$4,538,041
39000 shs WESTERN FOREST PRODUCTS INC	$79,455	$79,455
5279 shs WESTPAC BANKING CORP FN AUD PAR ORDINARY	$114,281	$114,281
2230 shs WETHERSPOON (J.D) GBP PAR ORDINARY	$37,096	$37,096
68195 shs WH GROUP LTD USD0.0001 HKD PAR ORDINARY	$55,538	$55,538
17263 shs WHARF HOLDINGS LTD (HK) 1.HKD PAR ORDINARY	$55,449	$55,449
3334 shs WHIRLPOOL CORP	$487,531	$487,531
378 shs WHITE MTNS INS GRP LTD	$342,699	$342,699
31000 shs WHITEHAVEN COAL LTD, BRI AUD PAR ORDINARY	$132,385	$132,385
2395 shs WILEY JOHN & SONS CL A	$149,448	$149,448
3967 shs WINTRUST FINL CP ILL COM	$345,327	$345,327
6300 shs WORKDAY INC CL A	$763,056	$763,056
2100 shs WOWOW INC. 4839 JPY PAR ORDINARY	$66,641	$66,641
12511 shs WPP PLC SHS ORD GBP 0.10	$197,055	$197,055
22283 shs WPX ENERGY INC CLASS A COMMON STOCK	$401,762	$401,762
21000 shs XLMEDIA PLC SHS USD PAR ORDINARY	$28,694	$28,694
21814 shs YAMADA DENKI 9831 JPY PAR ORDINARY	$108,512	$108,512
94000 shs YANLORD LAND GROUP LTD SGD PAR ORDINARY	$109,613	$109,613
2172 shs ZEBRA TECHNOLOGIES CRP A	$311,139	$311,139
4000 shs ZENKOKU HOSHO CO LTD 7164 JPY PAR ORDINARY	$181,645	$181,645
42714 shs ZOES KITCHEN INC SHS	$416,889	$416,889
311 shs ZURICH INSURANCE GRP AG 10.CHF PAR ORDINARY	$92,115	$92,115

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (29 entries)

Category Or ItemCategoryOrItemTxt	Listed At Cost Or FMVListedAtCostOrFMVCd	Book ValueBookValueAmt	EOYFMVEOYFMVAmt
RESIDUAL INVESTMENTS ARDEN SAGE ACCOUNT	FMV	$57,822	$57,822
ROSE VALUE-ADD OFFICE RETROFIT FUND	FMV	$1,193,600	$1,193,600
CARLYLE PARTNERS	FMV	$1,016,182	$1,016,182
BLACKSTONE MARKET OPPORTUNITIES OFFSHORE FUND	FMV	$1,150,677	$1,150,677
MORGAN CREEK PARTNERS	FMV	$3,206,912	$3,206,912
ECO SYSTEM PARTNERS	FMV	$8,982,542	$8,982,542
NEUBERGER BERMAN EMERGING MARKETS EQUITY FUND	FMV	$13,058,417	$13,058,417
MONARCH DEBT RECOVERY FUND LTD	FMV	$14,390,487	$14,390,487
BEACH POINT TOTAL RETURN OFFSHORE FUND II LTD	FMV	$14,001,853	$14,001,853
NUVEEN GLOBAL EMERGING MARKETS	FMV	$13,546,455	$13,546,455
BARROW HANLY BOND FUND	FMV	$2,876,910	$2,876,910
SKYBRIDGE	FMV	$11,093,987	$11,093,987
BLACKSTONE STRATEGIC OFFSHORE	FMV	$26,248,680	$26,248,680
BLACKSTONE CAYMAN	FMV	$2,908,135	$2,908,135
CARLYLE ENERGY	FMV	$5,807,305	$5,807,305
ABRAAJ GROWTH	FMV	$5,727,498	$5,727,498
INVESTEC	FMV	$2,964,640	$2,964,640
VANGUARD ST BOND FUND	FMV	$19,219,326	$19,219,326
FUNDAMENTAL CREDIT OPPORTUNITIES	FMV	$10,787,209	$10,787,209
MARATHON ACCESS	FMV	$125,838	$125,838
MUTUAL FUNDS FOR 457 PLAN	FMV	$188,422	$188,422
REAL ASSET ETF	FMV	$5,455,140	$5,455,140
AG DLI II	FMV	$4,919,416	$4,919,416
INTERNATIONAL HOUSING	FMV	$1,413,681	$1,413,681
POWERSHARES	FMV	$4,179,462	$4,179,462
MORGAN CREEK CHINA FUND	FMV	$1,147,039	$1,147,039
KBI WATER FUND	FMV	$9,188,419	$9,188,419
BARINGS	FMV	$1,900,207	$1,900,207
GOLDMAN SACHS	FMV	$17,943,958	$17,943,958

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp (18 entries)

Category Or ItemCategoryOrItemTxt	Cost Or Other BasisCostOrOtherBasisAmt	Accumulated DepreciationAccumulatedDepreciationAmt	Book ValueBookValueAmt
LAND AND BUILDINGS, BRATTLE STREET, CAMBRIDGE	$10,082,406	$5,433,589	$4,648,817
FURNITURE	$90,433	$90,433	$0
OFFICE CONDO - PHOENIX	$3,366,209	$560,550	$2,805,659
CONDOMINIUM IMPROVEMENTS - PHOENIX	$389,901	$128,887	$261,014
CONDOMINIUM IMPROVEMENTS - PHOENIX	$30,980	$8,757	$22,223
PHILLIPS PLACE, CAMBRIDGE - LAND	$2,500,000	$0	$2,500,000
PHILLIPS PLACE, CAMBRIDGE - BUILDINGS	$1,550,255	$0	$1,550,255
PHILLIPS PLACE, CAMBRIDGE - IMPROVEMENTS	$3,160,418	$636,453	$2,523,965
PHILLIPS PLACE, CAMBRIDGE - CAP INT	$443,002	$46,762	$396,240
FURNITURE	$160,023	$72,349	$87,674
BRATTLE STREET RENOVATION	$4,911,496	$100,706	$4,810,790
PHOENIX FURNITURE	$127,587	$27,339	$100,248
CONDOMINIUM IMPROVEMENTS - PHOENIX	$351,301	$26,920	$324,381
PHOENIX AV EQUIPMENT	$52,173	$15,652	$36,521
CAPITALIZED INTEREST - PHOENIX	$22,578	$246	$22,332
FURNITURE - BRATTLE	$466,129	$31,910	$434,219
ARTWORK - BRATTLE	$141,616	$0	$141,616
PHOENIX CONSTRUCTION IN PROGRESS	$529,621	$0	$529,621

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

Field	Value	IRS element (for citing)
Category	LEGAL FEES	CategoryTxt
Legal Fees	$163,694	LegalFeesAmt
Net Investment Income	$1,640	NetInvestmentIncomeAmt
Adjusted Net Income	$1,640	AdjustedNetIncomeAmt
Disbursements Charitable Prps	$162,054	DisbursementsCharitablePrpsAmt

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

Field	Value	IRS element (for citing)
Desc	HEALTH INSURANCE DEPOSIT	Desc
BOY Book Value	$12,180	BOYBookValueAmt
EOY Book Value	$14,950	EOYBookValueAmt
EOYFMV	$14,950	EOYFMVAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail (2 entries)

DescDesc	AmtAmt
CHANGE IN UNREALIZED APPRECIATION FOR YEAR NET OF TAX	$4,144,119
FACILITY REPURPOSING	$135,031

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (13 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Net Investment IncomeNetInvestmentIncomeAmt	Adjusted Net IncomeAdjustedNetIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
CURRICULUM DEVELOPMENT AND RESEARCH	$1,174,211	$0	$0	$1,174,211
EVALUATION	$40,186	$0	$0	$40,186
GENERAL OFFICE	$231,002	$21,826	$21,826	$209,176
BOARD TRAVEL AND MEETING COSTS	$356,817	$91,345	$91,345	$265,472
INSURANCE	$91,784	$0	$0	$91,784
JOINT/DEMONSTRATION PROJECTS	$2,874,304	$0	$0	$2,874,304
TEMPORARY SUPPORT STAFF	$120,835	$0	$0	$120,835
PUBLIC AFFAIRS	$126,687	$0	$0	$126,687
INFORMATION TECHNOLOGY	$861,430	$47,510	$47,510	$813,920
MULTI-MEDIA	$156,577	$0	$0	$156,577
DISTANCE EDUCATION	$376,873	$0	$0	$376,873
COURSES, CONFERENCES AND MEETINGS	$2,722,446	$0	$5,000	$2,717,446
PROGRAM AWARDS UNDER $10,000	$313,912	$0	$0	$313,912

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail (5 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Adjusted Net IncomeAdjustedNetIncomeAmt
PUBLICATIONS	$43,979	$43,979
SONORAN INSTITUTE	$9,840	$9,840
EMPLOYEE PARKING	$5,745	$5,745
OTHER	$450	$450
COURSE COSTS REIMBURSEMENT	$5,000	$5,000

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail (3 entries)

DescDesc	BOY Book ValueBOYBookValueAmt	EOY Book ValueEOYBookValueAmt
PAYROLL RELATED	$40,052	$27,735
REVOLVING LOAN ACCOUNT	$23,000,810	$25,310,317
DEFERRED EXCISE TAX	$3,064,923	$2,980,350

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail (3 entries)

CategoryCategoryTxt	AmtAmt	Net Investment IncomeNetInvestmentIncomeAmt	Adjusted Net IncomeAdjustedNetIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
INVESTMENT ADVISORY FEES	$1,808,558	$1,808,558	$1,808,558	$0
INVESTMENT CONSULTANT	$479,051	$479,051	$479,051	$0
PROGRAM ADMINISTRATION CONSULTING	$37,039	$0	$0	$37,039

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

CategoryCategoryTxt	AmtAmt	Net Investment IncomeNetInvestmentIncomeAmt	Adjusted Net IncomeAdjustedNetIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
FOREIGN TAXES	$259,454	$259,454	$259,454	$0
FEDERAL UBIT	$41,805	$0	$0	$0
FEDERAL EXCISE	$250,000	$0	$0	$250,000