LINCOLN INSTITUTE OF LAND POLICY: Form 990PF, tax year 2016

View the entire original 990 at ProPublica ↗

Organization: LINCOLN INSTITUTE OF LAND POLICY (EIN 86-6021106)
Tax period: 2016-07-01 to 2017-06-30
Filed: 2018-05-10
IRS object ID: 201831309349100403
Schema version: 2016v3.0
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 Expenses Schedule
Other Income Schedule2
Other Increases Schedule
Other Liabilities Schedule
Other Professional Fees Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2018-05-10T06:49:54-05:00	ReturnTs
Tax Period End	2017-06-30	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	2016-07-01	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	2018-05-08	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

Field	Value	IRS element (for citing)
Tax	2016	TaxYr
Build TS	2022-09-23 18:48:47Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$575,957,081	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	$1,531,011	ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss	$7,551,462	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$7,512,063	DividendsNetInvstIncmAmt
Dividends Adj Net Incm	$7,551,462	DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss	$14,139,907	NetGainSaleAstRevAndExpnssAmt
Gross Sales Price	$99,115,944	GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm	$14,139,907	CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm	$3,683,461	NetSTCapitalGainAdjNetIncmAmt
Other Income Rev And Expnss	$489,838	OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm	$0	OtherIncomeNetInvstIncmAmt
Other Income Adj Net Incm	$489,838	OtherIncomeAdjNetIncmAmt
Total Rev And Expnss	$23,712,218	TotalRevAndExpnssAmt
Total Net Invst Incm	$21,651,970	TotalNetInvstIncmAmt
Total Adj Net Incm	$11,724,761	TotalAdjNetIncmAmt
Comp Ofcr Dir Trst Rev And Expnss	$1,380,694	CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm	$554,715	CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Adj Net Incm	$554,715	CompOfcrDirTrstAdjNetIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl	$825,979	CompOfcrDirTrstDsbrsChrtblAmt
Oth Empl Slrs Wgs Rev And Expnss	$4,679,244	OthEmplSlrsWgsRevAndExpnssAmt
Oth Empl Slrs Wgs Net Invst Incm	$1,560	OthEmplSlrsWgsNetInvstIncmAmt
Oth Empl Slrs Wgs Adj Net Incm	$1,560	OthEmplSlrsWgsAdjNetIncmAmt
Oth Empl Slrs Wgs Dsbrs Chrtbl	$4,677,684	OthEmplSlrsWgsDsbrsChrtblAmt
Pension Empl Bnft Rev And Expnss	$1,858,933	PensionEmplBnftRevAndExpnssAmt
Pension Empl Bnft Net Invst Incm	$125,040	PensionEmplBnftNetInvstIncmAmt
Pension Empl Bnft Adj Net Incm	$125,040	PensionEmplBnftAdjNetIncmAmt
Pension Empl Bnft Dsbrs Chrtbl	$1,733,893	PensionEmplBnftDsbrsChrtblAmt
Legal Fees Rev And Expnss	$99,589	LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm	$4,196	LegalFeesNetInvstIncmAmt
Legal Fees Adj Net Incm	$4,196	LegalFeesAdjNetIncmAmt
Legal Fees Dsbrs Chrtbl	$95,393	LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss	$56,265	AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm	$9,833	AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm	$9,833	AccountingFeesAdjNetIncmAmt
Accounting Fees Chrtbl Prps	$46,432	AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss	$2,362,344	OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm	$2,357,779	OtherProfFeesNetInvstIncmAmt
Other Prof Fees Adj Net Incm	$2,357,779	OtherProfFeesAdjNetIncmAmt
Other Prof Fees Dsbrs Chrtbl	$4,565	OtherProfFeesDsbrsChrtblAmt
Interest Rev And Expnss	$434,460	InterestRevAndExpnssAmt
Interest Net Invst Incm	$12,958	InterestNetInvstIncmAmt
Interest Adj Net Incm	$12,958	InterestAdjNetIncmAmt
Interest Dsbrs Chrtbl	$504,002	InterestDsbrsChrtblAmt
Taxes Rev And Expnss	$479,907	TaxesRevAndExpnssAmt
Taxes Net Invst Incm	$228,600	TaxesNetInvstIncmAmt
Taxes Adj Net Incm	$228,600	TaxesAdjNetIncmAmt
Taxes Dsbrs Chrtbl	$0	TaxesDsbrsChrtblAmt
Deprec And Dpltn Rev And Expnss	$609,560	DeprecAndDpltnRevAndExpnssAmt
Deprec And Dpltn Net Invst Incm	$76,660	DeprecAndDpltnNetInvstIncmAmt
Deprec And Dpltn Adj Net Incm	$76,660	DeprecAndDpltnAdjNetIncmAmt
Occupancy Rev And Expnss	$524,245	OccupancyRevAndExpnssAmt
Occupancy Net Invst Incm	$21,593	OccupancyNetInvstIncmAmt
Occupancy Adj Net Incm	$36,715	OccupancyAdjNetIncmAmt
Occupancy Dsbrs Chrtbl	$487,530	OccupancyDsbrsChrtblAmt
Trav Conf Meeting Rev And Expnss	$1,078,469	TravConfMeetingRevAndExpnssAmt
Trav Conf Meeting Net Invst Incm	$47,941	TravConfMeetingNetInvstIncmAmt
Trav Conf Meeting Adj Net Incm	$47,941	TravConfMeetingAdjNetIncmAmt
Trav Conf Meeting Dsbrs Chrtbl	$1,030,528	TravConfMeetingDsbrsChrtblAmt
Printing And Pub Rev And Expnss	$452,002	PrintingAndPubRevAndExpnssAmt
Printing And Pub Net Invst Incm	$0	PrintingAndPubNetInvstIncmAmt
Printing And Pub Adj Net Incm	$52,926	PrintingAndPubAdjNetIncmAmt
Printing And Pub Dsbrs Chrtbl	$399,076	PrintingAndPubDsbrsChrtblAmt
Other Expenses Rev And Expnss	$8,534,734	OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm	$144,391	OtherExpensesNetInvstIncmAmt
Other Expenses Adj Net Incm	$159,391	OtherExpensesAdjNetIncmAmt
Other Expenses Dsbrs Chrtbl	$8,375,343	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$22,550,446	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$3,585,266	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm	$3,668,314	TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$18,180,425	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$499,253	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$499,253	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$23,049,699	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$3,585,266	TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm	$3,668,314	TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl	$18,679,678	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$662,519	ExcessRevenueOverExpensesAmt
Net Investment Income	$18,066,704	NetInvestmentIncomeAmt
Adjusted Net Income	$8,056,447	AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$705,949	CashBOYAmt
Cash EOY	$280,260	CashEOYAmt
Cash EOYFMV	$280,260	CashEOYFMVAmt
Sav And Temp Cash Invst BOY	$19,373,352	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$9,652,279	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$9,652,279	SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY	$274,901,273	CorporateStockBOYAmt
Corporate Stock EOY	$352,088,555	CorporateStockEOYAmt
Corporate Stock EOYFMV	$352,088,555	CorporateStockEOYFMVAmt
Corporate Bonds BOY	$17,615,007	CorporateBondsBOYAmt
Corporate Bonds EOY	$18,093,023	CorporateBondsEOYAmt
Corporate Bonds EOYFMV	$18,093,023	CorporateBondsEOYFMVAmt
Other Investments BOY	$162,677,495	OtherInvestmentsBOYAmt
Other Investments EOY	$176,811,969	OtherInvestmentsEOYAmt
Other Investments EOYFMV	$176,811,969	OtherInvestmentsEOYFMVAmt
Land Bldg Equip Cost Or Other Bss	$25,437,427	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$6,418,612	LandBldgEquipAccumDeprecAmt
Land BOY	$15,526,269	LandBOYAmt
Land EOY	$19,018,815	LandEOYAmt
Land EOYFMV	$19,018,815	LandEOYFMVAmt
Other Assets BOY	$10,605	OtherAssetsBOYAmt
Other Assets EOY	$12,180	OtherAssetsEOYAmt
Other Assets EOYFMV	$12,180	OtherAssetsEOYFMVAmt
Total Assets BOY	$490,809,950	TotalAssetsBOYAmt
Total Assets EOY	$575,957,081	TotalAssetsEOYAmt
Total Assets EOYFMV	$575,957,081	TotalAssetsEOYFMVAmt
Other Liabilities BOY	$15,730,858	OtherLiabilitiesBOYAmt
Other Liabilities EOY	$26,105,785	OtherLiabilitiesEOYAmt
Total Liabilities BOY	$15,730,858	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$26,105,785	TotalLiabilitiesEOYAmt
Organization Follows SFAS117	Yes (X)	OrganizationFollowsSFAS117Ind
Unrestricted BOY	$475,049,781	UnrestrictedBOYAmt
Unrestricted EOY	$549,050,774	UnrestrictedEOYAmt
Temporarily Restricted BOY	$29,311	TemporarilyRestrictedBOYAmt
Temporarily Restricted EOY	$800,522	TemporarilyRestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY	$475,079,092	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$549,851,296	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$490,809,950	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$575,957,081	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$475,079,092	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$662,519	ExcessRevenueOverExpensesAmt
Other Increases	$74,109,685	OtherIncreasesAmt
Subtotal	$549,851,296	SubtotalAmt
Other Decreases	$0	OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY	$549,851,296	TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (15 entries)

PropertyPropertyDesc	How AcquiredHowAcquiredCd	Gross Sales PriceGrossSalesPriceAmt	Cost Or Other BasisCostOrOtherBasisAmt	Gain Or LossGainOrLossAmt	Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
PUBLICLY TRADED	P	$30,913,191	$27,417,869	$3,495,322	$3,495,322
PUBLICLY TRADED	P	$64,669,311	$57,357,220	$7,312,091	$7,312,091
CLASS ACTIONS	P	$35,345		$35,345	$35,345
BLACKSTONE ASSET MANAGEMENT	P	$538,590		$538,590	$538,590
MORGAN CREEK K-1	P	$310,478		$310,478	$310,478
MORGAN CREEK K-1	P	$6,568		$6,568	$6,568
CARLYLE ENERGY K-1	P	$71,815		$71,815	$71,815
CARLYLE V K-1	P	$1,723,327		$1,723,327	$1,723,327
GRESHAM K-1	P	$144,041		$144,041	$144,041
GRESHAM K-1	P	$173,059		$173,059	$173,059
BH HIGH YIELD K-1	P	$8,415		$8,415	$8,415
BH HIGH YIELD K-1	P	$8,512		$8,512	$8,512
AG SUPER FUND	P	$419,790		$419,790	$419,790
ECOSYSTEM PARTNERS	P		$9,952	-$9,952	-$9,952
SPHINX ACCESS CLAIM	P	$93,502	$190,996	-$97,494	-$97,494

Field	Value	IRS element (for citing)
Capital Gain Net Income	$14,139,907	CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss	$3,683,461	NetShortTermCapitalGainLossAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

Field	Value	IRS element (for citing)
Liable Section4942 Tax	0	LiableSection4942TaxInd
Adjusted Qlfy Distri Yr1	$18,139,606	AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1	$476,463,888	NetVlNoncharitableAssetsYr1Amt
Distribution Yr1	0.038071	DistributionYr1Rt
Adjusted Qlfy Distri Yr2	$16,857,152	AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2	$517,558,674	NetVlNoncharitableAssetsYr2Amt
Distribution Yr2	0.032571	DistributionYr2Rt
Adjusted Qlfy Distri Yr3	$17,226,042	AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3	$496,450,552	NetVlNoncharitableAssetsYr3Amt
Distribution Yr3	0.034698	DistributionYr3Rt
Adjusted Qlfy Distri Yr4	$14,346,101	AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4	$429,309,121	NetVlNoncharitableAssetsYr4Amt
Distribution Yr4	0.033417	DistributionYr4Rt
Adjusted Qlfy Distri Yr5	$13,411,119	AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5	$410,368,652	NetVlNoncharitableAssetsYr5Amt
Distribution Yr5	0.032681	DistributionYr5Rt
Total Distribution	0.171438	TotalDistributionRt
Average Distribution	0.034288	AverageDistributionRt
Net Vl Noncharitable Assets	$510,717,347	NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets	$17,511,476	AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct	$180,667	NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct	$17,692,143	AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions	$22,644,599	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	$180,667	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Subtotal	$180,667	SubtotalAmt
Subtitle A Tax	$0	SubtitleATaxAmt
Tax Based On Investment Income	$180,667	TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx	$500,000	EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits	$500,000	TotalPaymentsAndCreditsAmt
Overpayment	$319,333	OverpaymentAmt
Applied To ES Tax	$319,333	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	$376,884	$62,072	$0
GEORGE MC CARTHY
113 BRATTLE STREET	CAMBRIDGE	MA	02138	CEO AND PRESIDENT/DIRECTOR	37.50	$378,560	$58,301	$0
DENNIS W ROBINSON
113 BRATTLE STREET	CAMBRIDGE	MA	02138	TREAS. & VP-FIN. & OPS.	37.50	$220,000	$61,603	$0
LEVERING F T WHITE
113 BRATTLE STREET	CAMBRIDGE	MA	02138	AST. SEC. & VP ADMIN & HR	37.50	$155,000	$47,364	$0
DIONE A ETTER
11010 N TATUM BLVD	PHOENIX	AZ	85028	SECRETARY	37.50	$110,000	$35,985	$0
DAVID C LINCOLN
11010 N TATUM BLVD	PHOENIX	AZ	85028	ASSIST. TREASURER/DIRECTOR	2.00	$12,500	$0	$0
CAROLINA BARCO
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR AND PROGRAM ADVISOR	3.00	$19,750	$0	$0
ROY W BAHL
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR AND PROGRAM ADVISOR	1.50	$9,250	$0	$0
MIMI BROWN
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.50	$11,250	$0	$0
JOHN G LINCOLN III
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.00	$6,000	$0	$0
RAY LAHOOD
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	0.00	$0	$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	0.50	$2,250	$0	$0
BRUCE LINCOLN
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.00	$5,500	$0	$0
BRUCE BABBITT
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.00	$5,250	$0	$0
THOMAS NECHYBA
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR AND PROGRAM ADVISOR	2.00	$11,500	$0	$0
JOHANNES LINN
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR AND PROGRAM ADVISOR	1.50	$9,250	$0	$0
JILL SCHURTZ
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.50	$8,500	$0	$0
RAPHAEL BOSTIC
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.00	$7,250	$0	$0
ANTHONY COYNE
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.50	$9,500	$0	$0
CONSTANCE MITCHELL FORD
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR AND PROGRAM ADVISOR	2.00	$12,500	$0	$0
JANE CAMPBELL
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	1.00	$8,000	$0	$0
TIM RENJILIAN
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	0.50	$1,000	$0	$0
SCOTT SMITH
11010 N TATUM BLVD	PHOENIX	AZ	85028	DIRECTOR	0.50	$1,000	$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
JOAN YOUNGMAN
113 BRATTLE STREET	CAMBRIDGE	MA	02138	SR. FELLOW	37.50	$260,000	$48,517	$0
ZHI LIU
113 BRATTLE STREET	CAMBRIDGE	MA	02138	SR. FELLOW	37.50	$251,333	$54,502	$0
ARMANDO CARBONELL
113 BRATTLE STREET	CAMBRIDGE	MA	02138	SR. FELLOW	37.50	$212,000	$54,270	$0
MARTIM SMOLKA
113 BRATTLE STREET	CAMBRIDGE	MA	02138	SR. FELLOW	37.50	$215,000	$47,907	$0
LOURDES GERMAN
113 BRATTLE STREET	CAMBRIDGE	MA	02138	DIRECTOR	37.50	$196,000	$9,101	$0

Field	Value	IRS element (for citing)
Other Employee Paid Over50k	33	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	$534,068
MERRILL LYNCH
2555 E CAMELBACK RD	PHOENIX	AZ	85016	INVESTMENT CONSULTING	$416,684
THE CARLYLE GROUP
1001 PENNSYLVANIA AVENUE	WASHINGTON	DC	20004	INVESTMENT ADVICE	$361,269
SANDS CAPITAL
1101 WILSON BLVD	ARLINGTON	VA	22209	INVESTMENT ADVICE	$287,082
GUARDIAN INFORMATION TECH
23 WATER STREET	LEOMINSTER	PA	01453	IT SUPPORT	$212,411

Field	Value	IRS element (for citing)
Contractor Paid Over50k	10	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	$3,104,082	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	$2,730,434	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	$2,248,977	Expenses3Amt
Description4	THE CHINA PROGRAM EXPLORES ISSUES AND CHALLENGES RELATING TO LAND AND TAXATION POLICY IN CHINA WITH A FOCUS ON RAPID URBAN DEVELOPMENT. FUNDAMENTAL LAND POLICY AND TAX REFORM.	Description4Txt
Expenses4	$1,828,400	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	$515,819,617	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$2,285,041	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$390,111	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$518,494,769	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$518,494,769	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$7,777,422	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$510,717,347	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$25,535,867	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	$18,679,678	ExpensesAndContributionsAmt
Program Related Invst Total	$0	ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid	$3,964,921	CharitableAssetsAcquisPaidAmt
Qualifying Distributions	$22,644,599	QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm	$180,667	PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri	$22,463,932	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	$8,056,447	CurrentYearAmt
Year1	$3,037,717	Year1Amt
Year2	$3,795,606	Year2Amt
Year3	$7,915,837	Year3Amt
Total	$22,805,607	TotalAmt

Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp

Field	Value	IRS element (for citing)
Current Year	$6,847,980	CurrentYearAmt
Year1	$2,582,059	Year1Amt
Year2	$3,226,265	Year2Amt
Year3	$6,728,461	Year3Amt
Total	$19,384,766	TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Current Year	$22,644,599	CurrentYearAmt
Year1	$18,198,963	Year1Amt
Year2	$16,857,152	Year2Amt
Year3	$17,226,042	Year3Amt
Total	$74,926,756	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	$22,644,599	CurrentYearAmt
Year1	$18,198,963	Year1Amt
Year2	$16,857,152	Year2Amt
Year3	$17,226,042	Year3Amt
Total	$74,926,756	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	$17,023,911	CurrentYearAmt
Year1	$15,882,129	Year1Amt
Year2	$17,251,956	Year2Amt
Year3	$16,548,352	Year3Amt
Total	$66,706,348	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 (39 entries)

Address Line1RecipientForeignAddress/AddressLine1Txt	Address Line2RecipientForeignAddress/AddressLine2Txt	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 Line2RecipientUSAddress/AddressLine2Txt	Province Or StateRecipientForeignAddress/ProvinceOrStateNm
Andreina Torres Angarita
Edificio Doralata Piso 16 Atpo 174	Torre A	Caracas	VE	none	I	State Sanctioned Land Seizures & Autoconstruction in Venezuela	$10,000
Dann Payares Ayola
Cra 68 81-73		Barranquilla Atlantico	CO	none	I	Barranquilla,Col.:Strategies for Detecting Spatial Determinants	$10,000
Patricia de Toledo Basile
				none	I	Governance from Within in So Paulo's Favelas	$10,000	750 Walker Square Apartment 3D	Charlottesville	VA	22903
Adriano Borges Da Costa
				none	I	Do Transportation Investments Create Peripheries in Latin America	$10,000	26 Concord Avenue Apt 111	Cambridge	MA	02138
Matthew Davis
				none	I	Incidence Estimates from Variation in State Tax Policies	$10,000	505 S 23rd Street Apartment 2	Philadelphia	PA	19146
Li Kerry Fang
				none	I	An Examination Across Industries and Geographical Scopes	$10,000	9051 Autoville Drive	College Park	MD	20740
Fundacion Ambiente y Recursos Naturales
Tucuman 255 6to A		Caba Caba	AR		NC	Urban Resettlement and Environmental Emergencies in Argentina	$19,240
Fundacin Universidad Torcuato Di Tella
Calle Miones 2177		Buenos Aires	AR		NC	Preliminary Analysis of the Incentives from Informal Settlements	$11,000
Hong Kong Baptist University
Room 702 David C Lam Bldg 34	Renfrew Road Kowloon Tong	Hong Kong SAR	CH		NC	The Effects of Landholdings on Rural Migrants in Urban China	$10,000
Alisha C Holland
				none	I	Impacts and Support for Mass Transport Projects in Colombia	$19,750	117 W 17th St Apt 4C	New York	NY	10011
Institute of Housing & Urban Development Studies
Burgemeester Oudlaan 50 J Bldg PO	Box 1935	Rotterdam	NL		NC	Use of Land Value Capture Instruments for Infrastructure Benefits	$25,708
Rhiannon Jerch
				none	I	Clean Water Act on Urban Growth & Local Finance	$10,000	206 N Quarry Street 2	Ithaca	NY	14850
Zachary Beaird Lamb
				none	I	TheSpatial Politics of Urban Flood Infrastructure	$10,000	119 Lowell Street 3	Somerville	MA	02143
Sun Kyoung Lee
				none	I	The Rise of the Metropolis: Lessons from New York City	$10,000	542 West 112th Street Apartment 10	New York	NY	10025	D
Ronan Lyons
66 North Circular Road		Dublin	EI	none	I	Implementing Land Value Taxation in Dublin, Ireland	$10,000
Jorge Mangonnet
				none	I	The Institutional Foundations of Fiscal Capacity in Argentina	$10,000	506 W 122 Street 55	New York	NY	10027
Joao Meyer
Avnida Valdemar Ferreira 490		Sao Paulo	BR	none	I	Residential Real Estate Market in Paraisopolis	$12,595
Fernanda Accioly Moreira
Rua Aimbere 1485 Apto 14 Suare		Sao Paulo	BR	none	I	Public Land for Whom? The social function of Unity Land Properties	$10,000
The Ohio State University
					PC	Impacts of High-Speed Rail on Urban Transformation in China	$11,500	1960 Kenny road	Columbus	OH	43210
Shitong Qiao
The Belchers Tower 8 Flat 36/B 89	Pokfulam Road	Hong Kong SAR	CH	none	I	Transferrable Development Rights in China	$10,000
Frederico Roman Ramos
Al Lorena 494 Apto 113 a		Sao Paulo	BR	none	I	The Brazilian Housing Programs Effects on Sprawl	$27,000
Alejandra Reyes Ruiz Del Cueto
				none	I	Political Economy of Inaccessibility and Vacancy in Brazil	$10,000	4600 Mueller Blvd	Austin	TX	78723
Edmar Augusto Santos de Araujo Juni
Avenida Nossa Senhora de Fatima 50	Apto 711	Rio de Janeiro	BR	none	I	Rio de Janeiro:Preserving Architural Heritage vs Dev. Rights Tran	$10,000
Nikki Johnson Springer
				none	I	Planning, Regulations & Responses for Solar Energy Development	$10,000	2865 Regal Pine Trail	Oviedo	FL	32766
Catharina Teixeira
Laran Heiras Street No 180 Ohacaras	Do Lago	Cara Picciba Sao Paulo	BR	none	I	ZEIS1 Novo Santo Amaro V Park: Incomplete Zoning in Sao Paulo	$10,000
Julia Golden Triman
				none	I	A Planning History of Weeds and Wildlife in Washington, D.C.	$10,000	1214 Preston Avenue	Charlottesville	VA	22903
UCL Consultants Limited
97 Tottenham Court Road Network	Building	London	UK		NC	An Analysis of Transmetro and Urban Policies in Colombia	$28,467
Board of Trustees Univ of Ilinois at Urbana-Champaign
					PC	Work on the vulnerability mapper and analyst	$15,000	611 Lorado Traft Drive Temple Buell	Champaign	IL	61820	Hall
Indiana University
					PC	Determinants of Property Value Reappraisals in Latin America	$21,023	1315 East Tenth Street Room 235	Bloomington	IN	47405
Regents of University of Michigan
					PC	Tools for Considering Social Equity in Scenario Planning	$14,000	2044 Wolverine Tower	Ann Arbor	MI	48109
Northeastern Illinois University
					PC	Fiscal Zoning, Small Homes & Prop. Tax in Massachusetts & Chicago	$10,000	5500 N St Louis Ave	Chicago	IL	60625
University of Texas at Austin
					PC	Spatial Mismatch and Residential Segregation in Bogota, Colombia	$13,170	310 Inner Campus Drive Stop B7500	Austin	TX	78712
University of Texas at Austin
					PC	Scenario Tools for Equitable Reinvestment & Affordable Housing	$18,250	310 Inner Campus Drive Stop B7500	Austin	TX	78712
Fabio Scopel Vanin
Rua Alfredo Flores 184 Apto 1001		Caixas do Sul	BR	none	I	Legal Inststruments: Created Land & Large-Scale Urban Projects	$10,000
Michael Thomas Wilson
				none	I	How Planners Work Together on Flood Maps for Decision Making	$10,000	14 Worcester Square Apartment 2	Boston	MA	02117
Thomas Woodbury
				none	I	Three Essays on Local Public Finance	$10,000	1229 Colorado Road	Lexington	KY	40509
Olga Zapata
Calle 9A Sur 82-30 Torre1 Apto 1303	Urbanizoa 5n Aarco Iris Barrio Rode	Medellin Antiqua	CO	none	I	Tax Protests in Colombia, 2011-2015	$12,550
Jordana Zola
Avenida Angelica 765 Spto 403 Sata	Cecilia	Sao Paulo	BR	none	I	Tiet Floodplain: Project and Reality	$10,000
Austin Zwick
43 Amroth Avenue		Toronto	CA	none	I	Fracking and Urban Revitalization in the American Rust Belt	$10,000						Ontario

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$499,253	TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut	$0	TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Program Service Rev Part VII ProgramServiceRevPartVIIGrp (6 entries)

DescDesc	Related Or Exempt Function IncmRelatedOrExemptFunctionIncmAmt
PUBLICATIONS	$52,926
SONORAN INSTITUTE	$4,897
EMPLOYEE PARKING	$5,760
OTHER	$1,215
COURSE COSTS REIMBURSEMENT	$15,000
QUALIFYING DISBURSEMENTS REFUNDED	$3,250

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

Field	Value	IRS element (for citing)
Business	900099	BusinessCd
Exclusion	14	ExclusionCd
Exclusion	$7,551,462	ExclusionAmt

Net Rntl Incm Re Debt Fincd Prop NetRntlIncmReDebtFincdPropGrp

Field	Value	IRS element (for citing)
Business	531120	BusinessCd

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

Field	Value	IRS element (for citing)
Exclusion	18	ExclusionCd
Exclusion	$14,139,907	ExclusionAmt

Other Revenue Described OtherRevenueDescribedGrp

Field	Value	IRS element (for citing)
Desc	EXCISE TAX REFUND	Desc
Exclusion	$406,790	ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Unrelated Business Taxbl Incm	$0	UnrelatedBusinessTaxblIncmAmt
Exclusion	$22,098,159	ExclusionAmt
Related Or Exempt Function Incm	$83,048	RelatedOrExemptFunctionIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$22,181,207	TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp (6 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
1F	REFUNDS OF QUALIFYING DISBURSEMENTS

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 (14 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	$7,342	Yes (X)
HIGHSTEAD FOUNDATION
2					$36,000	Yes (X)	PO BOX 1097	REDDING	CT	06875
THE TRANSIT CENTER
3					$30,000	Yes (X)	1 WHITEHALL STREET	NEW YORK	NY	10004
NATIONAL ASSOC OF REGIONAL COUNCILS
4					$99,250	Yes (X)	660 NORTH CAPITOL STREET NW	WASHINGTON	DC	20001
UN-HABITAT
5	PO BOX 30030	NAIROBI		KE	$60,000	Yes (X)
WEEDEN FOUNDATION
6					$20,000	Yes (X)	35 ADAMS STREET	BEDFORD HILLS	NY	10507
MASS AUDUBON
7					$51,500	Yes (X)	208 SOUTH GREAT ROAD	LINCOLN	MA	01773
FRANKLIN COUNTY OH
8					$49,800	Yes (X)	373 SOUTH HIGH STREET	COLUMBUS	OH	43215
KRESGE FOUNDATION
9					$700,000	Yes (X)	3215 W BIG BEAVER ROAD	TROY	MI	48084
ROBERT WOOD JOHNSON FOUNDATION
10					$157,119	Yes (X)	50 COLLEGE ROAD EAST	PRINCETOWN	NJ	08540
VERMONT COMMUNITY FOUNDATION
11					$5,000	Yes (X)	3 COURT STREET	MIDDLEBURY	VT	05753
FORD FOUNDATION
12					$55,000	Yes (X)	1440 BROADWAY	NEW YORK	NY	10018
FINE FUND
13					$5,000	Yes (X)	625 LIBERTY AVENUE	PITTSBURG	PA	15222
MAC ARTHUR FOUNDATION
14					$250,000	Yes (X)	140 S DEARBORN STREET	CHICAGO	IL	60603

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Field	Value	IRS element (for citing)
Category	AUDIT FEES	CategoryTxt
Amt	$56,265	Amt
Net Investment Income	$9,833	NetInvestmentIncomeAmt
Adjusted Net Income	$9,833	AdjustedNetIncomeAmt
Disbursements Charitable Prps	$46,432	DisbursementsCharitablePrpsAmt

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp (15 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	$4,883,319	VAR	$275,135	$0	$0
FURNITURE	$90,433	$90,433	VAR	$0	$0	$0
OFFICE CONDO - PHOENIX	$2,119,729	$447,498	VAR	$56,526	$0	$0
CONDOMINIUM IMPROVEMENTS - PHOENIX	$389,901	$102,893	VAR	$12,997	$0	$0
CONDOMINIUM IMPROVEMENTS - PHOENIX	$30,980	$6,545	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	$234,467	VAR	$201,013	$0	$0
PHILLIPS PLACE, CAMBRIDGE - CAP INT	$443,002	$17,228	VAR	$14,767	$0	$0
FURNITURE	$160,023	$26,669	VAR	$22,820	$0	$0
BRATTLE STREET CAPITALIZED EXPENSES	$4,376,007		VAR	$0	$0	$0
PHOENIX FURNITURE	$127,587		VAR	$9,113	$0	$0
CONDOMINIUM IMPROVEMENTS - PHOENIX	$351,301		VAR	$10,768	$0	$0
PHOENIX AV EQUIPMENT	$52,173		VAR	$5,217	$0	$0
CAPITALIZED INTEREST - PHOENIX	$3,212		VAR	$98	$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 (122 entries)

BondBondNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
$230000 ABBOTT LABORATORIES GLB 02.350% NOV 22 2019	$231,730	$231,730
$190000 ABBVIE INC GLB 02.300% MAY 14 2021	$189,529	$189,529
$80000 ACE INA HOLDINGS COMPANY GUARNT GLB 02.875% NOV 03 2022	$81,382	$81,382
$210000 AETNA INC GLB 02.750% NOV 15 2022	$210,739	$210,739
$245000 AMERICAN EXPRESS CREDIT SER MTN 02.375% MAY 26 2020	$247,244	$247,244
$140000 AMERICAN HONDA FINANCE GLB 02.125% OCT 10 2018	$140,900	$140,900
$115000 AMGEN INC GLB 01.900% MAY 10 2019	$115,108	$115,108
$80000 ANHEUSER-BUSCH INBEV FIN COMPANY GUARNT GLB 02.650% FEB 01 2021	$81,073	$81,073
$175000 ANHEUSER-BUSCH INBEV FIN COMPANY GUARNT GLB 03.300% FEB 01 2023	$180,203	$180,203
$245000 ANTHEM INC GLB 03.500% AUG 15 2024	$251,840	$251,840
$165000 APPLE INC GLB 02.150% FEB 09 2022	$163,923	$163,923
$100000 APPLE INC GLB 02.850% MAY 11 2024	$100,485	$100,485
$110000 AT&T INC GLB 03.800% MAR 15 2022	$113,853	$113,853
$90000 AUTOMATIC DATA PROCESSNG GLB 02.250% SEP 15 2020	$91,113	$91,113
$340000 BANK OF AMERICA CORP SER MTN 03.248% OCT 21 2027	$328,552	$328,552
$270000 BANK OF NY MELLON CORP SER MTN VAR%MAY 16 2023	$270,856	$270,856
$280000 BB&T CORPORATION SER MTN 02.750% APR 01 2022	$284,136	$284,136
$45000 BECTON DICKINSON GLB 03.125% NOV 08 2021	$45,837	$45,837
$195000 BERKSHIRE HATHAWAY INC GLB 02.750% MAR 15 2023	$197,584	$197,584
$100000 BMW US CAPITAL LLC COMPANY GUARNT 144A 02.250% SEP 15 2023	$97,097	$97,097
$140000 BROADCOM CRP / CAYMN FI COMPANY GUARNT 144A 03.875% JAN 15 2027	$143,766	$143,766
$145000 BUCKEYE PARTNERS LP GLB 03.950% DEC 01 2026	$143,525	$143,525
$80000 BURLINGTN NORTH SANTA FE - 03.650% SEP 01 2025	$84,194	$84,194
$85000 CANADIAN NATL RESOURCES - 03.900% FEB 01 2025	$85,524	$85,524
$180000 CAPITAL ONE FINANCIAL CO GLB 02.500% MAY 12 2020	$180,779	$180,779
$210000 CARDINAL HEALTH INC GLB 01.948% JUN 14 2019	$210,208	$210,208
$190000 CELGENE CORP GLB 03.875% AUG 15 2025	$198,426	$198,426
$130000 CHEVRON CORP GLB 02.895% MAR 03 2024	$131,054	$131,054
$120000 CISCO SYSTEMS INC GLB 01.600% FEB 28 2019	$119,993	$119,993
$265000 CITIGROUP INC - 03.200% OCT 21 2026	$257,718	$257,718
$145000 CNA FINANCIAL CORP GLB 03.950% MAY 15 2024	$150,410	$150,410
$170000 COCA-COLA FEMSA SAB CV COMPANY GUARNT GLB 02.375% NOV 26 2018	$170,847	$170,847
$340000 COMCAST CORP COMPANY GUARNT GLB 02.750% MAR 01 2023	$343,322	$343,322
$295000 COSTCO WHOLESALE CORP GLB 02.150% MAY 18 2021	$295,044	$295,044
$155000 CROWN CASTLE TOWERS LLC 144A AMORTIZED FCR 1.0000	$166,639	$166,639
$75000 CUMMINS INC - 03.650% OCT 01 2023	$79,245	$79,245
$115000 DELMARVA PWR & LIGHT CO 1ST MORTGAGE 03.500% NOV 15 2023	$120,150	$120,150
$210000 DEUTSCHE TELEKOM INT FIN COMPANY GUARNT 144A 02.820% JAN 19 2022	$211,203	$211,203
$195000 DIAMOND 1 FIN/DIAMOND 2 144A 04.420% JUN 15 2021	$205,573	$205,573
$90000 DOMINION ENERGY INC JR SUBORDINATED 02.579% JUL 01 2020	$90,465	$90,465
$170000 DUKE ENERGY CORP - 03.550% SEP 15 2021	$176,904	$176,904
$35000 EATON CORP COMPANY GUARNT GLB 02.750% NOV 02 2022	$35,191	$35,191
$90000 EDISON INTERNATIONAL - 02.950% MAR 15 2023	$90,882	$90,882
$112000 ERP OPERATING LP - 04.625% DEC 15 2021	$121,022	$121,022
$205000 FIFTH THIRD BANK SER BKNT 01.625% SEP 27 2019	$202,999	$202,999
$45000 GE CAPITAL INTL FUNDING COMPANY GUARNT GLB 02.342% NOV 15 2020	$45,360	$45,360
$250000 GENERAL ELEC CAP CORP SER MTN GLB 04.650% OCT 17 2021	$275,390	$275,390
$125000 GILEAD SCIENCES INC GLB 03.700% APR 01 2024	$129,949	$129,949
$60000 GOLDMAN SACHS GROUP INC GLB 02.000% APR 25 2019	$59,974	$59,974
$280000 GOLDMAN SACHS GROUP INC GLB 03.000% APR 26 2022	$282,150	$282,150
$175000 INTEL CORP GLB 01.850% MAY 11 2020	$175,049	$175,049
$90000 INTERCONTINENTALEXCHANGE COMPANY GUARNT GLB 02.500% OCT 15 2018	$90,841	$90,841
$70000 JOHN DEERE CAPITAL CORP SER MTN 01.750% AUG 10 2018	$70,147	$70,147
$310000 JPMORGAN CHASE & CO GLB 03.200% JAN 25 2023	$316,067	$316,067
$240000 KRAFT HEINZ FOODS CO COMPANY GUARNT GLB 03.500% JUL 15 2022	$247,438	$247,438
$140000 LAM RESEARCH CORP GLB 02.800% JUN 15 2021	$142,016	$142,016
$135000 LIBERTY MUTUAL GROUP INC COMPANY GUARNT 144A 04.250% JUN 15 2023	$143,625	$143,625
$215000 LOCKHEED MARTIN CORP GLB 03.100% JAN 15 2023	$219,964	$219,964
$90000 LOWE'S COMPANIES INC GLB 03.875% SEP 15 2023	$96,759	$96,759
$265000 LYB INTL FINANCE BV COMPANY GUARNT GLB 04.000% JUL 15 2023	$280,762	$280,762
$100000 MACQUARIE BANK LTD 144A 02.600% JUN 24 2019	$100,846	$100,846
$85000 MARATHON PETROLEUM CORP GLB 03.625% SEP 15 2024	$85,887	$85,887
$95000 MARSH & MCLENNAN COS INC GLB 02.750% JAN 30 2022	$95,928	$95,928
$85000 MCDONALD'S CORP SER MTN 02.750% DEC 09 2020	$86,541	$86,541
$180000 MEDTRONIC INC COMPANY GUARNT GLB 02.500% MAR 15 2020	$182,608	$182,608
$130000 MICROSOFT CORP GLB 01.100% AUG 08 2019	$128,460	$128,460
$185000 MICROSOFT CORP GLB 02.875% FEB 06 2024	$188,010	$188,010
$95000 MOLSON COORS BREWING CO COMPANY GUARNT 144A 01.900% MAR 15 2019	$94,870	$94,870
$95000 MOLSON COORS BREWING CO COMPANY GUARNT GLB 02.100% JUL 15 2021	$93,420	$93,420
$180000 MONSANTO CO GLB 02.750% JUL 15 2021	$181,697	$181,697
$275000 MORGAN STANLEY SER GMTN GLB 03.700% OCT 23 2024	$282,222	$282,222
$90000 MPLX LP GLB 04.875% DEC 01 2024	$95,955	$95,955
$175000 NATIONAL RURAL UTIL COOP COLLATERAL TRUST GLB 01.650% FEB 08 2019	$174,603	$174,603
$150000 NEWELL RUBBERMAID INC GLB 04.200% APR 01 2026	$159,268	$159,268
$75000 NISOURCE FINANCE CORP COMPANY GUARNT GLB 03.490% MAY 15 2027	$75,516	$75,516
$150000 NORTHROP GRUMMAN CORP - 03.500% MAR 15 2021	$156,494	$156,494
$90000 ORACLE CORP GLB 01.900% SEP 15 2021	$89,209	$89,209
$65000 PACCAR FINANCIAL CORP SER MTN 01.300% MAY 10 2019	$64,483	$64,483
$95000 PACCAR FINANCIAL CORP SER MTN 01.650% FEB 25 2019	$94,834	$94,834
$120000 PACIFIC GAS & ELECTRIC GLB 03.500% JUN 15 2025	$124,069	$124,069
$105000 PHILIP MORRIS INTL INC GLB 01.875% FEB 25 2021	$103,707	$103,707
$105000 PHILIP MORRIS INTL INC GLB 02.625% MAR 06 2023	$104,664	$104,664
$290000 PNC BANK NA SER BKNT 02.200% JAN 28 2019	$291,560	$291,560
$140000 PPL CAPITAL FUNDING INC COMPANY GUARNT 03.950% MAR 15 2024	$147,321	$147,321
$90000 PUBLIC SERVICE ENTERPRIS GLB 01.600% NOV 15 2019	$89,012	$89,012
$70000 QUALCOMM INC GLB 03.000% MAY 20 2022	$71,787	$71,787
$115000 REYNOLDS AMERICAN INC COMPANY GUARNT GLB 04.850% SEP 15 2023	$126,789	$126,789
$170000 SCHLUMBERGER HLDGS CORP 144A 03.625% DEC 21 2022	$176,877	$176,877
$275000 SCHNEIDER ELECTRIC SA 144A 02.950% SEP 27 2022	$277,574	$277,574
$115000 SHELL INTERNATIONAL FIN COMPANY GUARNT GLB 01.625% NOV 10 2018	$115,127	$115,127
$90000 SHELL INTERNATIONAL FIN COMPANY GUARNT GLB 02.500% SEP 12 2026	$86,046	$86,046
$205000 SHIRE ACQ INV IRELAND DA COMPANY GUARNT GLB 02.875% SEP 23 2023	$203,190	$203,190
$90000 SIMON PROPERTY GROUP LP GLB 02.200% FEB 01 2019	$90,568	$90,568
$210000 SOUTHERN CO GLB 02.350% JUL 01 2021	$208,469	$208,469
$160000 SOUTHWEST AIRLINES CO - 02.650% NOV 05 2020	$161,906	$161,906
$115000 STANLEY BLACK & DECKER I SUBORDINATED 02.451% NOV 17 2018	$116,120	$116,120
$90000 STATE STREET CORP GLB 02.550% AUG 18 2020	$91,690	$91,690
$80000 SUNOCO LOGISTICS PARTNER COMPANY GUARNT 03.450% JAN 15 2023	$80,286	$80,286
$140000 TELSTRA CORP LTD COMPANY GUARNT 144A 03.125% APR 07 2025	$140,420	$140,420
$135000 TEVA PHARMACEUTICALS NE COMPANY GUARNT GLB 03.150% OCT 01 2026	$128,207	$128,207
$175000 TORONTO-DOMINION BANK SER MTN GLB 02.625% SEP 10 2018	$176,927	$176,927
$125000 TOYOTA MOTOR CREDIT CORP SER MTN 02.100% JAN 17 2019	$125,769	$125,769
$120000 TOYOTA MOTOR CREDIT CORP SER MTN 02.125% JUL 18 2019	$120,833	$120,833
$95000 TRINITY ACQUISITION PLC COMPANY GUARNT GLB 04.400% MAR 15 2026	$99,201	$99,201
$85000 UNITED TECHNOLOGIES CORP GLB 01.900% MAY 04 2020	$85,146	$85,146
$105000 UNITEDHEALTH GROUP INC GLB 02.700% JUL 15 2020	$107,210	$107,210
$105000 UNITEDHEALTH GROUP INC GLB 02.750% FEB 15 2023	$105,784	$105,784
$90000 US BANCORP SER MTN 01.950% NOV 15 2018	$90,463	$90,463
$150000 USD HUSKY ENERGY INC 3.950% APR 15 2022	$155,053	$155,053
$160000 USD ONTARIO PROVINCE 2.400% FEB 08 2022	$161,235	$161,235
$100000 USD TELUS CORP 2.800% FEB 16 2027	$94,250	$94,250
$140000 VENTAS REALTY LP COMPANY GUARNT 03.500% FEB 01 2025	$139,093	$139,093
$105000 VENTAS REALTY LP/CAP CRP COMPANY GUARNT 04.250% MAR 01 2022	$110,923	$110,923
$170000 VERIZON COMMUNICATIONS GLB 04.125% MAR 16 2027	$175,573	$175,573
$90000 VISA INC GLB 02.800% DEC 14 2022	$91,633	$91,633
$105000 VISA INC GLB 03.150% DEC 14 2025	$106,603	$106,603
$120000 WEINGARTEN REALTY INVEST - 03.375% OCT 15 2022	$121,382	$121,382
$235000 WELLS FARGO & COMPANY SER MTN GLB 03.500% MAR 08 2022	$244,132	$244,132
$40000 WESFARMERS LTD COMPANY GUARNT 144A 01.874% MAR 20 2018	$40,059	$40,059
$85000 ZIMMER HOLDINGS INC GLB 02.700% APR 01 2020	$85,775	$85,775
$50000 ZIMMER HOLDINGS INC GLB 03.550% APR 01 2025	$50,505	$50,505
$220000 ZOETIS INC GLB 03.250% FEB 01 2023	$225,476	$225,476

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (375 entries)

StockStockNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
19003 shs ABBVIE INC	$1,377,907	$1,377,907
8715 shs ACCENTURE PLC	$1,077,871	$1,077,871
48936 shs ACI WORLDWIDE INC	$1,094,698	$1,094,698
59427 shs ACS ACTIVIDADES CONS-UNS ADR	$459,371	$459,371
9248 shs ACTUANT CORP CL A	$227,501	$227,501
21343 shs ACXIOM CORP COM	$554,491	$554,491
12353 shs ADECCO GROUP AG	$471,267	$471,267
18325 shs ADOBE SYS DEL PV$ 0.001	$2,591,888	$2,591,888
8558 shs ADTRAN INC COM	$176,723	$176,723
78281 shs AEGON N.V. NY REG SHS	$400,016	$400,016
14599 shs AERCAP HOLDINGS N.V. SHS	$677,831	$677,831
6864 shs AG MTG INVT TR INC	$125,611	$125,611
6264 shs AGL ENERGY LTD SHS 1.AUD PAR ORDINARY	$278,186	$278,186
17371 shs AIA GROUP LTD SPONSORED ADR	$510,273	$510,273
21683 shs AIRBUS SE	$448,188	$448,188
3154 shs ALEXANDER & BALDWIN INC NEW	$130,512	$130,512
17800 shs ALEXION PHARMS INC	$2,165,726	$2,165,726
25625 shs ALIBABA GROUP HOLDING LT	$3,610,562	$3,610,562
15598 shs ALLSCRIPTS HEALTHCARE SOLUTIONS INC	$199,030	$199,030
10849 shs ALPHABET INC SHS CL C	$9,961,781	$9,961,781
6471 shs AMADA HOLD AMADA HOLD	$74,754	$74,754
8060 shs AMAZON COM INC COM	$7,802,080	$7,802,080
79732 shs AMBEV SA SHS ADR	$437,729	$437,729
6311 shs AMER EAGLE OUTFITTERS	$76,047	$76,047
6700 shs ANADARKO PETE CORP	$303,778	$303,778
1908 shs ANDRITZ AG 1.EUR PAR ORDINARY	$114,771	$114,771
35380 shs AON PLC	$4,703,771	$4,703,771
22871 shs AOZORA BANK 8304 JPY PAR ORDINARY	$87,120	$87,120
13715 shs APOLLO COML REAL ESTATE FIN INC	$254,413	$254,413
28164 shs APOLLO INVESTMENT CORP	$179,968	$179,968
12081 shs APPLE INC	$1,739,906	$1,739,906
1536 shs APPLIED INDUSTRL TECH	$90,701	$90,701
20625 shs ARCELORMITTAL SA NY REG SHS	$468,806	$468,806
1531 shs ARMSTRONG FLOORING INC SHS WHEN ISSUED	$27,512	$27,512
5304 shs ARMSTRONG WORLD INDS INC NEW	$243,984	$243,984
5274 shs ARTISAN PARTNERS ASSET MGMT INC CLASS A	$161,912	$161,912
12996 shs ASAHI KASEI CORP 3407 JPY PAR ORDINARY	$139,664	$139,664
3711 shs ASSURED GUARANTY LTD	$154,897	$154,897
24572 shs AT&T INC	$927,101	$927,101
6500 shs ATHENAHEALTH INC	$913,575	$913,575
17845 shs AXA -SPONS ADR	$491,808	$491,808
33404 shs BAE SYSTEMS PLC GBP PAR ORDINARY	$274,875	$274,875
13593 shs BAIDU INC SPON ADR	$2,431,244	$2,431,244
66454 shs BANCO BILBAO VIZCAYA ARGENTARIA S A ADR	$555,555	$555,555
12580 shs BANCORP (THE) BANK	$95,356	$95,356
99800 shs BANK OF AMERICA CORP	$2,421,148	$2,421,148
18114 shs BARRATT DEV PLC 10P FN GBP PAR ORDINARY	$132,585	$132,585
1049 shs BASF SE NAMEN -AKT	$98,002	$98,002
1124 shs BAYER AG NAMEN-AKT. EUR PAR ORDINARY	$145,248	$145,248
5515 shs BECTON DICKINSON CO	$1,076,032	$1,076,032
10632 shs BERKELEY GROUP HOLDINGS PAR ORDINARY	$445,661	$445,661
37400 shs BERKSHIRE HATHAWAYINC DEL CL B NEW	$6,334,438	$6,334,438
19168 shs BHP BILLITON PLC SP ADR	$589,608	$589,608
6460 shs BIO TECHNE CORP COM STK	$759,050	$759,050
3650 shs BIOGEN INC	$990,464	$990,464
14800 shs BIOMARIN PHARMACEUTICALS	$1,344,136	$1,344,136
2192 shs BLACKROCK INC	$925,923	$925,923
6752 shs BLOOMIN BRANDS INC COMMON STOCK	$143,345	$143,345
3815 shs BNP PARIBAS 2.EUR PAR ORDINARY	$274,386	$274,386
4851 shs BRIDGESTONE CORP 5108 JPY PAR ORDINARY	$208,962	$208,962
7628 shs BRINKER INTL INC	$290,627	$290,627
3726 shs BRINKS CO	$249,642	$249,642
2873 shs BRITISH AMERICAN TOBACCO .25GBP PAR ORDINARY	$195,327	$195,327
2550 shs BROADRIDGE FINL SOLUTIONS INC	$192,678	$192,678
14710 shs BROADSOFT INC	$633,265	$633,265
6156 shs BROOKLINE BANCORP INC	$89,878	$89,878
3778 shs BROTHER INDUSTRIES 6448 JPY PAR ORDINARY	$87,188	$87,188
4998 shs CABOT CORP	$267,043	$267,043
5024 shs CALTEX AUSTRALIA LTD 1.AUD PAR ORDINARY	$121,814	$121,814
13739 shs CANADIAN NATURAL RES LTD	$396,233	$396,233
2185 shs CANON INC 7751 JPY PAR ORDINARY	$74,208	$74,208
1978 shs CAPGEMINI SA 8.EUR PAR ORDINARY	$204,123	$204,123
19149 shs CAPITA PLC .02 GBP PAR ORDINARY	$172,000	$172,000
112712 shs CAPITALAND MALL TRUST 1.SGD PAR ORDINARY	$147,387	$147,387
6587 shs CARDTRONICS LTD-CL A	$216,449	$216,449
24312 shs CARLSBERG AS SPONSOREDAD	$520,763	$520,763
8320 shs CARPENTER TECHNOLOGY	$311,418	$311,418
89051 shs CARREFOUR SA SPONSORED ADR	$454,160	$454,160
61009 shs CATCHMARK TIMBER TR INC SHS CL A	$693,672	$693,672
4943 shs CELANESE CORP DEL SER A	$469,288	$469,288
10408 shs CHATHAM LODGING TR	$209,097	$209,097
8517 shs CHEVRON CORP	$888,579	$888,579
8327 shs CHINA MOBILE LTD SPN ADR	$442,080	$442,080
2250 shs CHIPOTLE MEXICAN GRILL	$936,225	$936,225
6800 shs CHUBB LTD	$988,584	$988,584
29767 shs CISCO SYSTEMS INC COM	$931,707	$931,707
71600 shs CITIGROUP INC COM NEW	$4,788,608	$4,788,608
16942 shs CIVEO CORP SHS	$35,578	$35,578
36720 shs CK HUTCHISON HOLDINGS LTD	$459,918	$459,918
6726 shs CLEAN HARBORS INC	$375,512	$375,512
17943 shs CNO FINL GROUP INC	$374,650	$374,650
12089 shs COLGATE PALMOLIVE	$896,158	$896,158
40674 shs COLONY NORTHSTAR, INC CORP REGISTER CL A	$573,097	$573,097
3706 shs COLONY STARWOOD HOMES REIT	$127,153	$127,153
5884 shs COLUMBIA SPORTSWEAR CO	$341,625	$341,625
13850 shs COMMERCIAL METALS CO COM	$269,105	$269,105
5252 shs COMMONWEALTH BANK OF AU ORDINARY FULLY PAID 2. AUD PAR ORDINARY	$333,604	$333,604
14582 shs CONVERGYS CORP	$346,760	$346,760
7892 shs COPART INC COM	$250,887	$250,887
2375 shs COSTAR GROUP INC COM	$626,050	$626,050
22175 shs COVANTA HLDG CORP	$292,710	$292,710
783 shs CSL LTD AUD PAR ORDINARY	$82,901	$82,901
10317 shs CVS HEALTH CORP	$830,106	$830,106
8274 shs DAIICHI SANKYO CO LTD 4568 JPY PAR ORDINARY	$194,921	$194,921
7105 shs DAIMLER A EUR PAR ORDINARY	$514,943	$514,943
1167 shs DAITO TRUST CONSTR 1878 JPY PAR ORDINARY	$181,708	$181,708
26843 shs DAIWA SECURITIES GRP INC JPY PAR ORDINARY	$159,061	$159,061
8056 shs DBS GROUP HLDGS SPN ADR	$487,388	$487,388
25043 shs DIPLOMAT PHARMACY ORD	$370,636	$370,636
44200 shs DISH NETWORK CORPATION CLASS A	$2,773,992	$2,773,992
7737 shs DISNEY (WALT) CO COM STK	$822,056	$822,056
25430 shs DNB ASA SP ADR	$434,090	$434,090
4445 shs DOLBY LABORATORIES INC CL A	$217,627	$217,627
10842 shs DSW INC	$191,903	$191,903
45856 shs E.ON SE ADR	$431,046	$431,046
2104 shs EAGLE MATERIALS INC	$194,452	$194,452
21400 shs ECOLAB INC	$2,840,850	$2,840,850
11950 shs EDWARDS LIFESCIENCES CRP	$1,412,968	$1,412,968
5633 shs EL PASO ELECTRIC CO NEW	$291,226	$291,226
10597 shs ENAGAS EUR PAR ORDINARY	$296,721	$296,721
3329 shs ENERGIZER HOLDINGS INC SHS	$159,859	$159,859
35671 shs ENGIE SHS	$540,416	$540,416
7395 shs ESSILOR INTL SA ADR	$471,801	$471,801
3830 shs EUTELSAT COMMUNICATIONS, .5 EUR PAR ORDINARY	$97,675	$97,675
6978 shs EVONIK INDUSTRIES AG NAM EUR PAR ORDINARY	$222,757	$222,757
8287 shs EXTRA SPACE STORAGE INC	$646,386	$646,386
26725 shs FACEBOOK INC CLASS A COMMON STOCK	$4,034,941	$4,034,941
23739 shs FIDELITY NATL INFO SVCS INC	$2,027,311	$2,027,311
22521 shs FIFTH ST FIN CORP	$109,452	$109,452
13141 shs FINL ENGINES INC	$480,961	$480,961
35892 shs FIREEYE INC	$545,917	$545,917
37893 shs FIRST HORIZON NTNL CORP	$660,096	$660,096
13180 shs FIRST INTST BANCSYSTEM INC COM CL A	$490,296	$490,296
12117 shs FLETCHER BUILDING LTD NZD PAR ORDINARY	$70,887	$70,887
5594 shs FLIGHT CENTRE TRAVEL GRP .01AUD PAR ORDINARY	$164,341	$164,341
42288 shs FORTESCUE METALS GROUP AUD PAR ORDINARY	$169,321	$169,321
35343 shs FORUM ENERGY TECHNOLOGS INC COMMON STOCK	$551,351	$551,351
24710 shs FRANKLIN STR PPTYS CORP	$273,787	$273,787
10536 shs FRESENIUS MEDICAL CARE AG & CO SPON ADR	$509,205	$509,205
35683 shs FRESHPET INC SHS	$592,338	$592,338
3253 shs GAS NATURAL SA ORD 1.EUR PAR ORDINARY	$76,022	$76,022
96576 shs GENERAL MOTORS CO COMMON SHARES	$3,373,400	$3,373,400
28852 shs GENERALI ASSICURAZIONI 1.EUR PAR ORDINARY	$474,191	$474,191
2624 shs GENESCO INC	$88,954	$88,954
6124 shs GENTHERM INC	$237,611	$237,611
9746 shs GLATFELTER	$190,437	$190,437
2933 shs GLOBAL PMTS INC GEORGIA	$264,909	$264,909
10765 shs GNC HOLDINGS INC SHS CL A	$90,749	$90,749
6675 shs GOLDMAN SACHS GROUP INC	$1,481,183	$1,481,183
20576 shs GRAHAM CORP DEL	$404,524	$404,524
9716 shs GRAND CANYON EDUCATN INC	$761,832	$761,832
10923 shs GUESS INC COM	$139,596	$139,596
21713 shs H AND E EQUIP SVCS INC	$443,162	$443,162
42532 shs HABIT RESTAURANTS INC CL A	$672,006	$672,006
6925 shs HAEMONETICS CORP MASS	$273,468	$273,468
17626 shs HARMONIC INC $0.001	$92,537	$92,537
6426 shs HARSCO CORPORATION	$103,459	$103,459
15631 shs HEALTH CARE SVCS GROUP	$732,000	$732,000
19792 shs HEALTHSTREAM INC TENN	$520,925	$520,925
4275 shs HERMAN MILLER INC COM	$129,960	$129,960
6185 shs HINO MOTORS 7205 JPY PAR ORDINARY	$68,643	$68,643
34798 shs HMS HLDGS CORP	$643,763	$643,763
8254 shs HONEYWELL INTL INC DEL	$1,100,176	$1,100,176
24893 shs HOPE BANCORP INC SHS	$464,254	$464,254
10864 shs HSBC HLDG PLC SP ADR	$503,981	$503,981
70077 shs HSBC HOLDINGS PLC .5USD PAR ORDINARY	$647,834	$647,834
1706 shs HYSTER-YALE MATLS HNDLNG INC CL A	$119,847	$119,847
4223 shs ILG INC	$116,090	$116,090
8925 shs ILLUMINA INC COM	$1,548,666	$1,548,666
4350 shs IMPERIAL BRANDS PLC .10GBP PAR ORDINARY	$194,855	$194,855
13425 shs INCYTE CORPORATION	$1,690,342	$1,690,342
4060 shs INFINEON TECH AG (DE) EUR PAR ORDINARY	$86,296	$86,296
8726 shs INGERSOLL-RAND PLC	$797,469	$797,469
8920 shs INSULET CORP	$457,685	$457,685
27765 shs INSURANCE AUSTRALIA GRP AUD PAR ORDINARY	$144,392	$144,392
29527 shs INTESA SANPAOLO SPON ADR	$566,623	$566,623
25959 shs INTRPUBLIC GRP OF CO	$638,591	$638,591
8006 shs INVESTM TECH GRP INC NEW	$170,047	$170,047
66401 shs INVESTORS BANCORP INC NEW	$887,117	$887,117
6041 shs ISUZU MOTORS LTD 7202 FN JPY PAR ORDINARY	$74,518	$74,518
7323 shs ITOCHU CORP ORD 8001 JPY PAR ORDINARY	$108,777	$108,777
7878 shs JANUS HENDERSON GROUP PLC	$260,841	$260,841
5885 shs JAPAN AIRLINES CO LTD JPY PAR ORDINARY	$181,956	$181,956
5798 shs JAPAN POST HOLDINGS CO.,LTD. SHS 6178 JPY PAR ORDINARY	$71,933	$71,933
4884 shs JAPAN TOBACCO INC 2914 JPY PAR ORDINARY	$171,567	$171,567
7928 shs JOHNSON AND JOHNSON COM	$1,048,795	$1,048,795
37514 shs JPMORGAN CHASE & CO	$3,428,780	$3,428,780
6178 shs JSR CORPORATION 4185 JPY PAR ORDINARY	$106,504	$106,504
45811 shs JULIUS BAER GROUP ADR	$481,703	$481,703
18421 shs JX HOLDINGS INC JPY PAR ORDINARY	$80,448	$80,448
24887 shs KAJIMA CORP 1812 FN JPY PAR ORDINARY	$209,977	$209,977
1379 shs KAO CORP 4452 JPY PAR ORDINARY	$81,886	$81,886
3725 shs KENNAMETAL INC	$139,390	$139,390
16736 shs KEYCORP NEW COM	$313,633	$313,633
5032 shs KLEPIERRE ORD EUR 8 EUR PAR ORDINARY	$205,953	$205,953
12011 shs KLX INC SHS	$600,550	$600,550
10726 shs KNIGHT TRNSPRTN INC	$397,398	$397,398
17432 shs KOMATSU NEW NEW SPNSDADR	$447,131	$447,131
1920 shs KONE OYJ EUR PAR ORDINARY	$97,536	$97,536
10337 shs KONICA MINOLTA INC 50.JPY PAR ORDINARY	$85,743	$85,743
7776 shs KONINKLIJKE AHOLD .01 EUR PAR ORDINARY	$148,466	$148,466
4100 shs KOPPERS HLDGS INC	$148,215	$148,215
1063 shs LAWSON,INC. #2651 JPY PAR ORDINARY	$74,361	$74,361
59486 shs LEGAL & GENERAL GROUP FN 2.5GBP PAR ORDINARY	$199,581	$199,581
6208 shs LEND LEASE GROUP AUD PAR ORDINARY	$79,284	$79,284
71650 shs LENDINGCLUB CORP SHS	$394,792	$394,792
15863 shs LIBERTY GLOBAL LILAC C CLASS C	$339,627	$339,627
90774 shs LIBERTY GLOBAL PLC CL C	$2,830,333	$2,830,333
1003244 shs LINCOLN ELEC HLDGS INC	$92,388,740	$92,388,740
3174 shs LOCKHEED MARTIN CORP	$881,134	$881,134
12687 shs LOWE'S COMPANIES INC	$983,623	$983,623
4515 shs M T S SYSTEMS CORP COM	$233,877	$233,877
2445 shs MACQUARIE GROUP LTD AUD PAR ORDINARY	$165,976	$165,976
22252 shs MARINE HARVEST 2.NOK PAR ORDINARY	$379,604	$379,604
62972 shs MARKS & SPENCER NEW ORD .25GBP PAR ORDINARY	$272,625	$272,625
29715 shs MARRIOTT INTL INC NEW A	$2,980,712	$2,980,712
12687 shs MARSH & MCLENNAN COS INC	$989,079	$989,079
8154 shs MATSON INC COM	$244,946	$244,946
63316 shs MAZDA MOTOR CORP SHS	$441,313	$441,313
13548 shs MEDTRONIC PLC SHS	$1,202,385	$1,202,385
12738 shs MERCURY SYSTEMS INC	$536,142	$536,142
22551 shs MICROSOFT CORP	$1,554,440	$1,554,440
77900 shs MICROSOFT CORP	$5,369,647	$5,369,647
1684 shs MIRACA HOLDINGS INC 50.JPY PAR ORDINARY	$75,687	$75,687
78066 shs MIRVAC GROUP FN AUD PAR ORDINARY	$127,544	$127,544
21720 shs MITSUBISHI ESTATE ADR	$405,621	$405,621
12156 shs MITSUBISHI UFJ FINANCIAL 50000.JPY PAR ORDINARY	$81,660	$81,660
1675 shs MIXI INC 2121 JPY PAR ORDINARY	$93,172	$93,172
70747 shs MONDELEZ INTERNATIONAL INC	$3,055,563	$3,055,563
6776 shs MONDI PLC, LONDON GBP PAR ORDINARY	$177,266	$177,266
20012 shs MONRO MUFFLER BRAKE INC	$835,501	$835,501
9033 shs MONSANTO CO NEW DEL COM	$1,069,146	$1,069,146
32100 shs MONSTER BEVERAGE SHS	$1,594,728	$1,594,728
18325 shs MORGAN STANLEY	$816,562	$816,562
11374 shs MRC GLOBAL INC	$187,898	$187,898
12188 shs MURATA MANUFACTURING CO LTD SHS	$463,875	$463,875
6555 shs NATIONAL AUSTRALIA BANK 1.AUD PAR ORDINARY	$148,779	$148,779
5062 shs NATIONAL GENERAL HOLDINGS CORP SHS	$106,808	$106,808
15116 shs NEOGENOMICS INC	$135,439	$135,439
2467 shs NESTE OYJ EUR PAR ORDINARY	$97,046	$97,046
3757 shs NESTLE SA CHAM UND VEVE	$327,386	$327,386
15725 shs NETFLIX COM INC	$2,349,472	$2,349,472
18508 shs NEW RELIC INC	$796,029	$796,029
8970 shs NEXTERA ENERGY INC SHS	$1,256,966	$1,256,966
20755 shs NIC INC	$393,307	$393,307
19232 shs NIELSEN HOLDINGS PLC SHS	$743,509	$743,509
13007 shs NIPPON TEL & TEL 9432 JPY PAR ORDINARY	$505,651	$505,651
40600 shs NOBLE ENERGY INC	$1,148,980	$1,148,980
3242 shs NOMURA REAL ESTATE HOLD JPY PAR ORDINARY	$63,594	$63,594
36717 shs NORDEA BANK AB SEK PAR ORDINARY	$466,658	$466,658
5038 shs NOVARTIS AG REG CHF0.5 50.CHF PAR ORDINARY	$419,811	$419,811
6538 shs NTT DOCOMO INC JPY PAR ORDINARY	$154,315	$154,315
126200 shs ORACLE CORP $0.01 DEL	$6,327,668	$6,327,668
27813 shs ORANGE ADR	$444,452	$444,452
25158 shs OSAKA GAS 9532 FN JPY PAR ORDINARY	$102,884	$102,884
18144 shs OTSUKA HOLDINGS CO LTD SHS ADR	$387,193	$387,193
9459 shs PACKAGING CORP AMERICA	$1,053,638	$1,053,638
9225 shs PALO ALTO NETWORKS INC COM	$1,234,397	$1,234,397
40771 shs PANASONIC CORP SHS	$555,953	$555,953
1996 shs PATTERSON UTI ENERGY INC	$40,299	$40,299
11210 shs PAYLOCITY HLDG CORP	$506,468	$506,468
10496 shs PBF ENERGY INC CL A	$233,641	$233,641
7995 shs PEBBLEBROOK HOTEL TRUST	$257,759	$257,759
32235 shs PEPSICO INC	$3,722,820	$3,722,820
31149 shs PFIZER INC	$1,046,295	$1,046,295
2363 shs PHARMERICA CORP	$62,029	$62,029
15836 shs PHILLIPS 66 SHS	$1,309,479	$1,309,479
2583 shs POTLATCH CORP NEW	$118,043	$118,043
7121 shs PRAXAIR INC	$943,889	$943,889
2119 shs PROVIDENT FINL PLC, BRAD .2 GBP PAR ORDINARY	$66,968	$66,968
35473 shs QUOTIENT TECHNOLOGY INC	$407,940	$407,940
14463 shs RAYONIER INC REIT	$416,101	$416,101
1557 shs RECKITT BENCKISER GROUP GBP PAR ORDINARY	$157,429	$157,429
3823 shs RED ELECTRICA CORPORACIO EUR PAR ORDINARY	$79,772	$79,772
4450 shs REGENERON PHARMACTCLS	$2,185,573	$2,185,573
14197 shs REPSOL SA 3.EUR PAR ORDINARY	$216,977	$216,977
664 shs REPSOL SA EUR PAR ORDINARY	$0	$0
22591 shs REPSOL SA PARENT ML # 90GE9	$10,306	$10,306
3123 shs RIO TINTO PLC GBP PAR ORDINARY	$131,515	$131,515
28349 shs RITCHIE BROS AUCTIONEERS	$814,750	$814,750
21572 shs ROCHE HLDG LTD SPN ADR	$685,990	$685,990
1944 shs ROCHE HOLDINGS GENUSH FN CHF PAR ORDINARY	$495,718	$495,718
10278 shs ROY DUT SHELL PLC B LON .07GBP PAR ORDINARY	$275,356	$275,356
26878 shs ROYAL DSM N V SPON ADR	$489,717	$489,717
12003 shs ROYAL DUTCH SHELL PLC SPONS ADR A	$638,440	$638,440
152136 shs ROYAL KPN N V SP ADR	$492,921	$492,921
15062 shs ROYAL MAIL PLC SHS .01 GBP PAR ORDINARY	$82,406	$82,406
9652 shs RUSH ENTERPRISES IN CL A	$358,861	$358,861
2825 shs RYMAN HOSPITALITY PPTYS INC	$180,828	$180,828
39525 shs SALESFORCE COM INC	$3,422,865	$3,422,865
14746 shs SALLY BEAUTY HLDGS INC	$298,607	$298,607
3121 shs SANOFI 2.EUR PAR ORDINARY	$298,157	$298,157
20336 shs SCHLUMBERGER LTD	$1,338,922	$1,338,922
6737 shs SCHRODERS PLC GBP PAR ORDINARY	$271,631	$271,631
40150 shs SCHWAB CHARLES CORP NEW	$1,724,844	$1,724,844
1027 shs SECOM CO LTD 9735 JPY PAR ORDINARY	$77,921	$77,921
23489 shs SECOM CO LTD ADR	$445,117	$445,117
39792 shs SEIKO EPSON CORP UNSP ADR	$442,487	$442,487
10109 shs SEKISUI HOUSE LTD 1928 JPY PAR ORDINARY	$178,095	$178,095
17225 shs SERVICENOW INC	$1,825,850	$1,825,850
3643 shs SIEMENS AG GERM EUR PAR ORDINARY	$501,686	$501,686
4488 shs SILICON LABS INC	$306,755	$306,755
1478 shs SIMMONS 1ST NTL A $5	$78,186	$78,186
11014 shs SIMPSON MFG DEL PV $0.01	$481,422	$481,422
14080 shs SMITH-NPHW PLC SPADR NEW	$490,688	$490,688
18019 shs SNAM SPAE EUR1 EUR PAR ORDINARY	$78,424	$78,424
42411 shs SNAP INC CL A	$753,643	$753,643
591 shs SONOVA HOLDING AG .05CHF PAR ORDINARY	$96,088	$96,088
2252 shs SOTHEBY'S (DELAWARE)	$120,865	$120,865
24175 shs SPLUNK INC COMMON SHARES	$1,375,316	$1,375,316
11952 shs SPROUTS FARMERS MARKETS INC SHS	$270,952	$270,952
41750 shs SPROUTS FARMERS MARKETS INC SHS	$946,473	$946,473
9322 shs SSE PLC .5GBP PAR ORDINARY	$175,941	$175,941
31059 shs STANDARD LIFE ORD GBP PAR ORDINARY	$161,013	$161,013
19025 shs STARBUCKS CORP	$1,109,348	$1,109,348
6060 shs STARWOOD PPTY TR INC COMMON STOCK	$135,683	$135,683
5592 shs SUBARU CORP JPY PAR ORDINARY	$188,425	$188,425
11688 shs SUMITOMO CORP 8053 FN JPY PAR ORDINARY	$152,082	$152,082
10576 shs SUMITOMO HEAVY INDS 6302 JPY PAR ORDINARY	$69,748	$69,748
6506 shs SUMITOMO MITSUI FIN 8316 50000.JPY PAR ORDINARY	$253,559	$253,559
90081 shs SUMITOMO MITSUI-UNSPONS ADR	$708,037	$708,037
4755 shs SUMITOMO RUBBER 5110 JPY PAR ORDINARY	$80,238	$80,238
10695 shs SUNCORP GROUP LTD ORDINARY SHARES	$121,576	$121,576
6820 shs SWEDBANK AB 20.SEK PAR ORDINARY	$166,001	$166,001
2315 shs SWEDISH MATCH 1.2SEK PAR ORDINARY	$81,434	$81,434
7113 shs SYKES ENTERPRISES INC	$238,499	$238,499
4917 shs SYNTEL INC COM	$83,392	$83,392
166628 shs TANDEM DIABETES CARE ORD	$133,302	$133,302
12192 shs TATA MOTORS LTD ADR	$402,458	$402,458
31846 shs TELENOR ASA ORD 6.NOK PAR ORDINARY	$526,542	$526,542
24159 shs TELIA CO AB 3.2SEK PAR ORDINARY	$111,105	$111,105
21168 shs TELSTRA COPRORATION LTD AUD PAR ORDINARY	$69,818	$69,818
3945 shs TEREX CORP DEL NEW COM	$147,938	$147,938
908 shs TESORO CORP	$84,989	$84,989
22665 shs TETRA TECHNOLOGIES INC	$63,235	$63,235
1710 shs THE PRICELINE GROUP INC	$3,198,589	$3,198,589
10700 shs THERMO FISHER SCIENTIFIC INC	$1,866,829	$1,866,829
34965 shs THERMON GROUP HLDGS INC	$670,279	$670,279
2658 shs TOKIO MARINE HOLDINGS IN 100.JPY PAR ORDINARY	$110,025	$110,025
704 shs TOKYO ELECTRON 8035 FN JPY PAR ORDINARY	$94,987	$94,987
8506 shs TOTAL S.A. SP ADR	$421,812	$421,812
4578 shs TRAVIS PERKINS GBP PAR ORDINARY	$86,523	$86,523
9052 shs TRI POINTE GROUP INC	$119,396	$119,396
2230 shs TUPPERWARE BRANDS CORP	$156,613	$156,613
76575 shs TWENTY-FIRST CENTURY FOX INC CLASS B	$2,164,049	$2,164,049
11128 shs UBS GROUP AG NAMEN-AKT. .1 CHF PAR ORDINARY	$188,710	$188,710
40916 shs UNDER ARMOUR INC CLASS C	$857,227	$857,227
4100 shs UNILEVER PLC .03 GBP PAR ORDINARY	$221,282	$221,282
7690 shs UNION PACIFIC CORP	$837,518	$837,518
27013 shs UNITEDHEALTH GROUP INC	$5,008,750	$5,008,750
15650 shs UPM-KYMMENE OY CORP FN EUR PAR ORDINARY	$445,526	$445,526
13895 shs V F CORPORATION	$800,352	$800,352
13158 shs VERIFONE SYSTEMS INC	$238,160	$238,160
5389 shs VERINT SYSTEMS INC	$219,332	$219,332
50139 shs VICINITY CENTERS AUD PAR ORDINARY	$98,839	$98,839
48050 shs VISA INC CL A SHRS	$4,506,129	$4,506,129
5950 shs VITAMIN SHOPPE INC	$69,317	$69,317
21150 shs W R BERKLEY CORP	$1,462,945	$1,462,945
10052 shs WADDELL & REED FINL A	$189,782	$189,782
6871 shs WAGEWORKS INC	$461,731	$461,731
14022 shs WEC ENERGY GROUP INC SHS	$860,670	$860,670
66705 shs WELLS FARGO & CO NEW DEL	$3,696,124	$3,696,124
6239 shs WESTPAC BANKING CORP FN AUD PAR ORDINARY	$146,009	$146,009
4609 shs WHIRLPOOL CORP	$883,177	$883,177
509 shs WHITE MTNS INS GRP LTD	$442,133	$442,133
4994 shs WILEY JOHN & SONS CL A	$263,433	$263,433
6145 shs WINTRUST FINL CP ILL COM	$469,724	$469,724
21383 shs WPX ENERGY INC CLASS A COMMON STOCK	$206,560	$206,560
1408 shs WYNDHAM WORLDWIDE CORP W I	$141,377	$141,377
17035 shs YAHOO JAPAN CORP 4689 JPY PAR ORDINARY	$74,138	$74,138
13952 shs YAMADA DENKI 9831 JPY PAR ORDINARY	$69,288	$69,288
137542 shs YANGZIJIANG SHIPBUILDING SGD PAR ORDINARY	$118,864	$118,864
17142 shs YUE YUEN INDUSTRIAL(NEW) .25HKD PAR ORDINARY	$71,146	$71,146
4893 shs ZEBRA TECHNOLOGIES CRP A	$491,844	$491,844
356 shs ZURICH INSURANCE GRP AG 10.CHF PAR ORDINARY	$103,753	$103,753

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (27 entries)

Category Or ItemCategoryOrItemTxt	Listed At Cost Or FMVListedAtCostOrFMVCd	Book ValueBookValueAmt	EOYFMVEOYFMVAmt
RESIDUAL INVESTMENTS ARDEN SAGE ACCOUNT	FMV	$128,451	$128,451
ROSE VALUE-ADD OFFICE RETROFIT FUND	FMV	$1,123,971	$1,123,971
CARLYLE PARTNERS	FMV	$1,804,840	$1,804,840
BLACKSTONE MARKET OPPORTUNITIES OFFSHORE FUND	FMV	$3,445,265	$3,445,265
MORGAN CREEK PARTNERS	FMV	$3,614,002	$3,614,002
ECO SYSTEM PARTNERS	FMV	$7,588,937	$7,588,937
1454475 SHS SPHINX ACCESS LTD CL DH	FMV	$0	$0
NEUBERGER BERMAN EMERGING MARKETS EQUITY FUND	FMV	$12,048,880	$12,048,880
MONARCH DEBT RECOVERY FUND LTD	FMV	$13,538,748	$13,538,748
BEACH POINT TOTAL RETURN OFFSHORE FUND II LTD	FMV	$13,387,986	$13,387,986
NUVEEN GLOBAL EMERGING MARKETS	FMV	$13,535,066	$13,535,066
GRESHAM TAP	FMV	$9,549,965	$9,549,965
BARROW HANLY BOND FUND	FMV	$2,840,008	$2,840,008
SKYBRIDGE	FMV	$10,113,502	$10,113,502
BLACKSTONE STRATEGIC OFFSHORE	FMV	$24,930,998	$24,930,998
BLACKSTONE CAYMAN	FMV	$1,972,261	$1,972,261
CARLYLE ENERGY	FMV	$3,309,206	$3,309,206
ABRAAJ GROWTH	FMV	$4,448,369	$4,448,369
INVESTEC	FMV	$2,166,231	$2,166,231
VANGUARD ST BOND FUND	FMV	$14,911,588	$14,911,588
FUNDAMENTAL CREDIT OPPORTUNITIES	FMV	$11,080,919	$11,080,919
MARATHON ACCESS	FMV	$10,562,616	$10,562,616
MUTUAL FUNDS FOR 457 PLAN	FMV	$119,908	$119,908
REAL ASSET ETF	FMV	$4,951,057	$4,951,057
AG DLI II	FMV	$794,712	$794,712
INTERNATIONAL HOUSING	FMV	$1,139,656	$1,139,656
POWERSHARES	FMV	$3,704,827	$3,704,827

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp (15 entries)

Category Or ItemCategoryOrItemTxt	Cost Or Other BasisCostOrOtherBasisAmt	Accumulated DepreciationAccumulatedDepreciationAmt	Book ValueBookValueAmt
LAND AND BUILDINGS, BRATTLE STREET, CAMBRIDGE	$10,082,406	$5,158,454	$4,923,952
FURNITURE	$90,433	$90,433	$0
OFFICE CONDO - PHOENIX	$2,119,729	$504,024	$1,615,705
CONDOMINIUM IMPROVEMENTS - PHOENIX	$389,901	$115,890	$274,011
CONDOMINIUM IMPROVEMENTS - PHOENIX	$30,980	$7,651	$23,329
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	$435,480	$2,724,938
PHILLIPS PLACE, CAMBRIDGE - CAP INT	$443,002	$31,995	$411,007
FURNITURE	$160,023	$49,489	$110,534
BRATTLE STREET CAPITALIZED EXPENSES	$4,376,007	$0	$4,376,007
PHOENIX FURNITURE	$127,587	$9,113	$118,474
CONDOMINIUM IMPROVEMENTS - PHOENIX	$351,301	$10,768	$340,533
PHOENIX AV EQUIPMENT	$52,173	$5,217	$46,956
CAPITALIZED INTEREST - PHOENIX	$3,212	$98	$3,114

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

Field	Value	IRS element (for citing)
Category	LEGAL FEES	CategoryTxt
Legal Fees	$99,589	LegalFeesAmt
Net Investment Income	$4,196	NetInvestmentIncomeAmt
Adjusted Net Income	$4,196	AdjustedNetIncomeAmt
Disbursements Charitable Prps	$95,393	DisbursementsCharitablePrpsAmt

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

Field	Value	IRS element (for citing)
Desc	HEALTH INSURANCE DEPOSIT	Desc
BOY Book Value	$10,605	BOYBookValueAmt
EOY Book Value	$12,180	EOYBookValueAmt
EOYFMV	$12,180	EOYFMVAmt

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	$1,411,336	$0	$0	$1,411,336
EVALUATION	$106,637	$0	$0	$106,637
GENERAL OFFICE	$196,833	$10,617	$10,617	$186,216
BOARD TRAVEL AND MEETING COSTS	$293,653	$74,581	$74,581	$219,072
INSURANCE	$91,898	$0	$0	$91,898
JOINT/DEMONSTRATION PROJECTS	$2,786,961	$0	$0	$2,786,961
TEMPORARY SUPPORT STAFF	$159,614	$0	$0	$159,614
PUBLIC AFFAIRS	$129,342	$0	$0	$129,342
INFORMATION TECHNOLOGY	$1,043,566	$59,193	$59,193	$984,373
MULTI-MEDIA	$51,500	$0	$0	$51,500
DISTANCE EDUCATION	$488,447	$0	$0	$488,447
COURSES, CONFERENCES AND MEETINGS	$1,452,692	$0	$15,000	$1,437,692
PROGRAM AWARDS UNDER $10,000	$322,255	$0	$0	$322,255

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail (7 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Adjusted Net IncomeAdjustedNetIncomeAmt
PUBLICATIONS	$52,926	$52,926
SONORAN INSTITUTE	$4,897	$4,897
EMPLOYEE PARKING	$5,760	$5,760
OTHER	$1,215	$1,215
COURSE COSTS REIMBURSEMENT	$15,000	$15,000
QUALIFYING DISBURSEMENTS REFUNDED	$3,250	$3,250
EXCISE TAX REFUND	$406,790	$406,790

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

Field	Value	IRS element (for citing)
Desc	CHANGE IN UNREALIZED APPRECIATION FOR YEAR NET OF TAX	Desc
Amt	$74,109,685	Amt

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail (3 entries)

DescDesc	BOY Book ValueBOYBookValueAmt	EOY Book ValueEOYBookValueAmt
PAYROLL RELATED	$36,382	$40,052
REVOLVING LOAN ACCOUNT	$14,145,016	$23,000,810
DEFERRED EXCISE TAX	$1,549,460	$3,064,923

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	$1,940,945	$1,940,945	$1,940,945	$0
INVESTMENT CONSULTANT	$416,834	$416,834	$416,834	$0
PROGRAM ADMINISTRATION CONSULTING	$4,565	$0	$0	$4,565

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

CategoryCategoryTxt	AmtAmt	Net Investment IncomeNetInvestmentIncomeAmt	Adjusted Net IncomeAdjustedNetIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
FOREIGN TAXES	$228,600	$228,600	$228,600	$0
STATE UBIT	$1,307	$0	$0	$0
FEDERAL UBIT	$250,000	$0	$0	$0