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9 O_PF Return of Private Foundation OMB No 1545-0052

Form or Section 4947 ( a)(1) Nonexempt Charitable Trust 007

Dlpart1,ent of the Treasury Treated as a Private FoundationIntdrna'Revenue Service ( 77) Note . The foundation may be able to use a copy of this return to satis fy state reporting requirements

For calendar year 2007 , or tax year beginning 02/01 , 2007 , and ending 01/31/2008

G Check all that aDDly Initial return Final return Amended return Address change Name change

Name of foundation A Employer identification number

Use the IRSlabel. RAY & PAULINE SULLIVAN FDN 06-6141242

Otherwise, Number and street ( or P 0 box number if mail is not delivered to street address) Room / suite B Telephone number ( see the instructions)

print

or type .S S ifi P 0 BOX 1802 ( ) -ee pec c

Instructions . City or town , state, and ZIP code C penIf ex em ption

ionappl ica tion is ►

D 1 Foreign organizations , check here . ►

PROVIDENCE , RI 02901-1802 2 Fore ign organ i zations meet i ng the

H Check type of organization X Section 501 ( c)(3) exempt private foundation85% test , check here and attachcomputation • • . • • • . ►

Section 4947 ( a)(1) nonexem pt charitable trust Other taxable p rivate foundationE If nd ti n tatus wa t rmt f t d

at endf ll assetI F i k t l Accountin method Cash L J Accrualpriva ou inae a o s s e e

►r mar va ue o a sa e

of year (from Part fl, col. (c), line

-----g _

q Other ( specify ) _ _ _ _ _ _ _

under section 507)b )(1)(A).check here •

F If the foundation is in a 60-month termination

16) Do' $ 15 , 194 , 315. (Part 1, column (d) must be on cash basis.) under section 507(b ) (1)(8), check here • ►

Analysis of Revenue and Expenses (Thetotal of amounts in columns (b), (c), and (d)

(a) Revenue and (b) Net investment (c) Adjusted net(d) Disbursements

for charitable

may not necessarily equal the amounts inexpenses per

booksincome income purposes

column (a) (see the instructions)) ( cash basis only )

1 Contributions efts, grants , etc , received (attach schedule)

2 Check ► Xif the foundation is not required toattach Sch B

3 interest on savings and temporarycash investments

4 Dividends and interest from securities • • • 507 358. 507 , 358. STMT 1

5a Gross rents . . . . . . . . . . . . . . . .

b Net rental income or (loss)

y 6a Net gain or (loss ) from sale of assets not on line 10 1 , 128 , 873 .b Gross sales price for all

2 , 827,195.assets on line 6a

7 Capital gain net income ( from Part IV , line 2) 1 1 128 , 873. 00

8 Net short-term capital gain . . . . . . . . . 04 20089 Income modifications . . . . . . . . . .

10 a Gross sales less returnsnd ll n • • .

eowaa a ces

S eb Less Cost of goods sold .

c Gross profit or (loss ) ( attach schedule) ,

11 Other income ( attach schedule) • • • •

12 Total . Add lines 1 throw h 11 1 , 636 , 231 1 , 636 , 231 .

13 Compensation of officers , directors , trustees , etc 76 , 627 26 , 820. 49 , 808

14 Other employee salaries and wages . . . .

w 15 Pension plans , employee benefits . . . . .

STMT 516a Legal fees ( attach schedule ) 12 , 168 . NON NON 12 , 168CLX

• • ,

b Accounting fees ( attach schedule )STMT 6 1 , 079 . 1 , 034. NON 45

, c Other professional fees ( attach schedule).

17 Interest . . . . . . . . . . . . . . . . . .

y 18 Taxes ( attach schedule) ( see the nstruct i-VMS' • 7 21 , 796 . 3 , 654 .E 19 Depreciation ( attach schedule) and depletion •E

20 Occupancy . . . . . . . . . . . . . . . .

21 Travel, conferences , and meetings . . . . ,

m 22 Printing and publications . . . . . . . . .

23 Other expenses ( attach schedule) ^TI1T. 8 • 1 , 282 . 1 , 282

its 24 Total operating and administrative expenses.

CL Add lines 13 through 23 . . . . . . . . . . 112 952. 31 , 508. NON 63 , 30379825 Contributions , gifts, grants paid . . • • • 678 799. , 967

26 Total ex enses and disbursements Add lines 24 and 25 791 , 751. 31 5 0 8 . NON 742 , 10227 Subtract line 26 from line 12

a Excess of revenue over expenses and disbursements 844 , 4 8 0.

b Net investment income ( if negative , enter -0-) 1 , 604 , 72 3 .c Adjusted net income ( if ne g ative, enter -0-).

For Privacy Act and Paperwork Reduction Act Notice, see the instructions.JSA7E1410 1 000

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Form 990-PF (2007)

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Fnrm 490-15F (70071 06-6141242 Paoe2Attached schedules and amounts in the

ff dShnBeginning of year End of year

-yearor en oeets description column should beceBalaamounts only (See instructions ( (a) Book Value (b) Book Value (c) Fair Market Value

1 Cash - non-interest -bearing . . . . . . . . . . . . . . . . . NON

2 Savings and temporary cash investments . . . . . . . . . . . 100 134. 758 421. 758 , 421

3 Accounts receivable ► ------------------------Less allowance for doubtful accounts ►

--------------4 Pledges receivable ►

-------------------------Less- allowance for doubtful accounts ►

---------- ----5 Grants receivable . . . . . . . . . . . . . . . . . . . . . .

6 Receivables due from officers, directors , trustees , and other

disqualified persons ( attach schedule) ( see page 16 of the instructions)

7 Other notes and loans receivable ( attach schedule) ► _* ____ * 351, 922. STMT 9

Less - allowance for doubtful accounts ► -391 319. 351 922. 351 , 922

- - ------- --- -8 Inventories for sale or use ,y

9 Prepaid expenses and deferred charges . . . . . . . . . . . .U)Q 10 a Investments- U S and state government obligations ( attach schedule) NON NON,

b Investments - corporate stock ( attach schedule) . . . . . . . 12 , 436, 997. 14,083, 972

c Investments - corporate bonds (attach schedule ). . . . NON NON,11 Investments - land, buildings, ► NONEand equipment basis ------------ --------

Less accumulated depreciation ►lh h d )

NONusc e e ------------ --------(attac

12 Investments - mortgage loans . . . . . . . . . . . . . . . . NON

13 Investments - other ( attach schedule ) , , , .. STMT .1.0. 12 188 810. NON NON.14 Land , buildings, and ►

equipment basis ------------ --------Less accumulated depreciation pp.

h h le)( tt d ------------- -------ua ac sc e

15 Other assets ( describe ► 1 NON NON.----------------------

16 Total assets ( to be completed by all filers - see the

instructions . Also , see page 1 , item I ) .. 12 680 263. 13 547 340. 15 , 194 , 315

17 Accounts payable and accrued expenses , , , , , , , . . . .

. . . . . . . . . . . . . . . .18 Grants payable . . . . . . .

19 Deferred revenue . . . . . . . . . . . . . . . . . . . . . .

20 Loans from officers, directors , trustees , and other disqualified persons

2 21 Mortgages and other notes payable ( attach schedule) ,

J 22 Other liabilities ( describe ► )

23 Total liabilities ( add lines 17 through 22) .

Foundations that follow SFAS 117, check here ►and complete lines 24 through 26 and lines 30 and 31.

m 24 Unrestricted . . . . . . . . . . . . . . . . . . . . . . . . .Qg 25 Temporarily restricted . . . . . . . . . . . . . . . . . . . .

co 26 Permanently restricted .. .

°i

Foundations that do not follow SFAS 117,►k h l li 27 th h 31h d t, ere an nes roug .c ec comp e e

o 27 Capital stock , trust principal , or current funds , , , , . . . . 12 372 648. 13 , 308 , 076,

28 Paid-in or capital surplus, or land, bldg and equipment fund . . . . .

29 Retained earnings, accumulated income, endowment , or other funds . 307 , 615. 239,2 6430 Total net assets or fund balances ( see page 17 of the

Z instructions) . . . . . . . . . . . . . . . . . . . . . . . . 12, 680, 263. 13,547,340.31 Total liabilities and net assets/fund balances ( see page 17

of the instructions) 12 680 263. 13, 547 340.Analysis of Changes in Net Assets or Fund Balances

1 Total net assets or fund balances at beginning of year - Part II, column ( a), line 30 (must agree with

end-of-year figure reported on prior year' s return) , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 1 12, 680, 263 .

2 Enter amount from Part I, line 27a . . . . . , , , _ , , , , ,..... 2 844 , 480 .....3 Other increases not included in line 2 ( itemize ) ► SEE STATEMENT 11 3 22 599 .

--------------------------------------4 Add lines 1 , 2, and3 ,. ,,, ,,,__,,,, 13 , 547 , 342.5 Decreases not included in line 2 ( itemize ) SEE STATEMENT 12

.2 .

6 Total net assets or fund balances at end of year ( line 4 minus line 5) Part II , column ( b), line 30 13,547,340.

JSA

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- 6- 1

06-6141242Form 990-PF (2007)

[_anital [; sins and I nccPS for Tax on Investment Income

(a) List and describe the kind ( s) of property sold (e g., real estate ,

2-story brick warehouse , or common stock , 200 shs. MLC Co )

b Howacquired

DP-Purchase-Donation

( c) Dateacquired

Imo ,day, yr)( d) Date soldImo , day, yr ►

la SEE PART IV SCHEDULEb

c

de

( e) Gross sales price ( f) Depreciation allowed( or allowable)

(g) Cost or other basis

plus expense of sale( h) Gain or (loss)

( e) plus (f) minus (g)

a

b

cd

eComplete only for assets showing gain in column ( h) and owned by the foundation on 1 2 / 31/69 ( I) Gains )Col ( h) gain minus

(i) F M V. as of 12 / 31/69 ( j) Adjusted basisas of 12 / 31/69

(k) Excess of col (I)over col (j), if any

col ( k), but not less than -0-) orLosses ( from col (h))

a

b

c

d

e

2 Capital gain net income or ( net capital loss) . ,{

If gain, also enter in Part I, line 7

If (loss ), enter -0- in Part I, line 7 } 2 1 , 128 , 873.3 Net short -term capital gain or ( loss) as defined in sections 1222 ( 5) and (6):

If gain, also enter in Part I , line 8, column ( c) (see pages 13 and 17 of the instructions).

If (loss ) , enter -0- in Part I , line 8. 3

Qualification Under Section 4940 ( e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? . . , , F1 Yes D No

If "Yes ," the foundation does not qualify under section 4940 ( e). Do not complete this part.

1 Enter the annronriate amount in each column for each year: see oaae 18 of the instructions before makino any entries.(a)

Base period yearsCalendar year or tax year beginning in )

( b)Adjusted qualifying distributions

(c)Net value of noncharitable -use assets

(d)Distribution ratio

( col (b) divided by col (c))

2006 692 142. 13 997 395. 0.049447915132005 669 124. 13 295 918. 0.050325520962004 608 320. 12 993 873. 0.046815910852003 610 771. 12 126 971. 0.050364678862002 755 443. 11 993 934. 0.06298542246

2 Total of line 1, column (d) 2 0.259939448263 Average distribution ratio for the 5 -year base period - divide the total on line 2 by 5, or by

the number of years the foundation has been in existence if less than 5 years . . . . . . . . . 3 0 . 05198788965

4 Enter the net value of noncharitable-use assets for 2007 from Part X, line 5 4 15 , 303 , 326.

5 , , , , , , , , , , , , , , , , ,Multiply line 4 by line 3 , , , , , , , 5 795 , 588.

6

, , ,, , , ,,, , , , ,

Enter 1 %of net investment income (1%of Part I, line 27b) , , , , , , , , , , , , , , , , 6 16,047.

7 Add lines 5 and 6 7 811 635.

8 Enter qualifying distributions from Part XII, line 4 , . , , , . . , , , , _ 8 759 , 602.If line 8 is equal to or greater than line 7, check the box i n Part VI, line 1 b, and comp l ete that part usi ng a 1'/ tax rate See the Part VI instructions on page 18

JSA1 Form 990-PF (2007)7E7E 1430 2 000

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7 - 1

Form 990-PF (2007) 06-6141242

J Excise Tax Based on Investment Income ( Section 4940 ( a), 4940(b), 4940 ( e), or 4948 - see page 18 of the instructions)

la Exempt operating foundations described in section 4940(d)(2), check here ► and enter "N/A" on line 1 . . .

Date of ruling letter: - - - - - - - - - - ( attach copy of ruling letter if necessary - see instructions)

b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 32 , 094.

here ► q and enter 1%of Part I, line 27b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

c All other domestic foundations enter 2% of line 27b Exempt foreign organizations enter 4% of Part I, line 12, col (b)

2 Tax under section 511 (domestic section 4947(a)(1( trusts and taxable foundations only Others enter -0-) , . 2

3 Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 32 , 094.

4 Subtitle A (income) tax (domestic section 4947)a)(1) trusts and taxable foundations only Others enter -0-) . . 4 NONE

5 Tax based on investment income . Subtract line 4 from line 3 If zero or less, enter -0 . . . . . . . . . . . . . . 5 32 , 094.

6 Credits/Payments

a 2007 estimated tax payments and 2006 overpayment credited to 2007 . 6a 16 , 272.

b Exempt foreign organizations-tax withheld at source . . . . . . . . , , , , 6b NONE

c Tax paid with application for extension of time to file (Form 8868) , , , , 6c NONE, , ,

d Backup withholding erroneously withheld . . . . . . . . . . . . . . . . . 6d

_

7 Total credits and payments Add lines 6a through 6d . . . . . . . . . . . . . . . . . . . . . . . . . 7 16 , 272.

8 Enter any penalty for underpayment of estimated tax Check here q if Form 2220 is attached . . . . . . 8

9 Tax due . If the total of lines 5 and 8 is more than line 7, enter amount owed . . . . . . . . . . . . . . . . ► 9 15 , 822

. . ►10 Overpayment . If line 7 is more than the total of lines 5 and 8, enter the amount overpaid . . . . . . . 10.

11 Enter the amount of line 10 to be Credited to 2008 estimated tax ► Refunded ► 11

17,1101WT Statements Reg arding Activities

la During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it Yes No

participate or intervene in any political campaign? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1a X

b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19

of the instructions for definition)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b X

If the answer is "Yes" to la or 1b, attach a detailed description of the activities and copies of any materials -

published or distributed by the foundation in connection with the activities

c Did the foundation file Form 1120-POLfor this year? ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 1c X

d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year

(1) On the foundation (2) On foundation managers ► $

e Enter the reimbursement (if any) paid by the organization during the year for political expenditure tax imposed on

foundation managers. ► $

2 Has the foundation engaged in any activities that have not previously been reported to the IRS? . . . . . . . . . . . . . . . 2 X

If "Yes," attach a detailed description of the activities

3 Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of

incorporation, or bylaws, or other similar instruments? If "Yes,"attach a conformed copy of the changes , , , , , , , 3 X

4a Did the foundation have unrelated business gross income of $1,000 or more during the year? . . . . . . . . . . . . . . . . 4a X

b If "Yes," has it filed a tax return on Form 990-T for this year? 4b A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 Was there a liquidation, termination, dissolution, or substantial contraction during the year? 5 X, , , , , , , , , , , , , , , ,

If "Yes,"attach the statement required by General Instruction T.

6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either

• By language in the governing instrument, or

• By state legislation that effectively amends the governing instrument so that no mandatory directions that

conflict with the state law remain in the governing instrument? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 X

7 Did the foundation have at least $5,000 in assets at any time during the year? If "Yes, " complete Part 11, col (c), and Part XV 7 X

8a Enter the states to which the foundation reports or with which it is registered (see page 19 of the

instructions) ► STMT 13--------------------------------------------------------------------

b If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney General

(or designate) of each state as required by General Instruction G?If "No,"attach explanation . . . . . . . . . . . . . . . . 8b X

9 Is the foundation claiming status as a private operating foundation within the meaning of section 4942(1)(3)

or 4942(1)(5) for calendar year 2007 or the taxable year beginning in 2007 (see instructions for Part XIV)7 If

„Yes,,, complete Part XIV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 X

10 Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their

names and addresses , 10 X

Form 990-PF (2007)

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Form 990-PF (2007) 06-6141242 5

Statements Regardin g Activities (continued)

11a At any time during the year , did the foundation , directly or indirectly, own a controlled entity within the

meaning of section 512)b))13 )? If "Yes," attach schedule ( see page 20 of the instructions ) . . . . . . . . . . . . . . . . . . 11a X

b If "Yes," did the foundation have a binding written contract in effect on August 17 , 2006, covering the interest,

rents, royalties , and annuities described in the attachment for line 1 la? . . . . . . . . . . . . . . . . . . . . . . . . . . . 11b

12 Did the foundation acquire a direct or indirect interest in any applicable insurance contract? . . . . . . . . . . . . . . . . . 12 X

13 Did the foundation comply with the public inspection requirements for its annual returns and exemption application? 13 X

Website address ------------------------------------------------------------------------

14 The books are in care of BANK -TAX -SERVICES ________ Telephone no ► __(401) 278-6882---------Located at P_0__BOX_1802__ PROVIDENCE1_RI----------------------- ZIP +4) 0_29_01-1802 ----

15 Section 4947 ( a)(1) nonexempt charitable trusts filing Form 990-F in lieu of Form 1041 - Check here . . . . . . . . . . . . . . . ►q

..................and enter the amount of tax-exempt interest received or accrued during the year ► 115

FiffIT]". Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the " Yes" column , unless an exception applies. Yes No

la During the year did the foundation (either directly or indirectly)

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? . . . . . . . . q Yes 11 No

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a

disqualified person? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes X No

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? . . . . . . . Yes X No

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? . . . . . . . X Yes No

(5) Transfer any income or assets to a disqualified person (or make any of either available for

the benefit or use of a disqualified person)? . . . . . . . . . . . . . . . . . . . . . . . . . . . q Yes EZ No

(6) Agree to pay money or property to a government official? (Exception . Check "No" if

the foundation agreed to make a grant to or to employ the official for a period after

termination of government service, if terminating within 90 days ) . . . . . . . . . . . . . . . . q Yes No

b If any answer is "Yes" to la(1)-(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53 4941(d)-3 or in a current notice regarding disaster assistance (see page 22 of the instructions)? • • • • • • . . 1b X

Organizations relying on a current notice regarding disaster assistance check here . . . . . . . . . . . . . ►

c Did the foundation engage in a prior year in any of the acts described in 1 a, other than excepted acts, that

were not corrected before the first day of the tax year beginning in 2007? . . . . . . . . . . . . . . . . . . . . . . . . . . 1c X

2 Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942)j)(5))

a At the end of tax year 2007, did the foundation have any undistributed income (lines 6d and

Be, Part XIII) for tax year(s) beginning before 20077 . . . . . . . . . . . . . . . . . . . . . . . . . q Yes No

If "Yes," list the years ► ---___-___- , _

b Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year's undistributed income? (If applying section 4942)a)(2)

to all years listed, answer "No" and attach statement - see page 22 of the instructions ) . . . . . . . . . . . . . . . . . . . . 2b N A A

c If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here

► -----------'----------'----------'----------

3a Did the foundation hold more than a 2% direct or indirect interest in any business

enterprise at any time during the year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . q Yes No

b If "Yes," did it have excess business holdings in 2007 as a result of (1) any purchase by the foundation or

disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the

Commissioner under section 4943(c))7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse

of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine if the

foundation had excess business holdings in 2007) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 3b N A

4a Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? . . . . . . , 4a X

b Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable

purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2007 • • • • • • • • • • • • 4b X

Form 990-PF (2007)

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Form 990-PF (2007) -6141242 6

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

5a During the year did the foundation pay or incur any amount to

q Y? [A Noes. . . . . .(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))

(2) Influence the outcome of any specific public election (see section 4955), or to carry on,

directly or indirectly, any voter registration drive? . . . . . . . . . . . . . . . • • • • • • • • Yes X No

(3) Provide a grant to an individual for travel, study, or other similar purposes? , , • • • • • • • • • Yes LXJ No

(4) Provide a grant to an organization other than a charitable, etc , organization described in

q Nq Y? es o(see page 22 of the instructions ) • , , • , ,section 509(a)(1), (2), or (3), or section 4940(d((2(

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

q Yl h l l ? EA Noesi dren or anima s . . . . . . . . . .educational purposes, or for the prevention of crue ty to c

b If any answer is "Yes" to 5a(1)-(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53 4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)? . 5b N A

k h qere . . . . . . . . . . . . . . .Organizations relying on a current notice regarding disaster assistance chec

c If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the tax

N,A q Yes q No? . . . . . . . . . . . . . . .because it maintained expenditure responsibility for the grant

If Yes," attach the statement required by Regulations section 53 4945-5(d)

6a Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums

El X NoYes qf ? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .it contracton a personal bene

during the year, pay premiums, directly or indirectly, on a personal benefit contract?b Did the foundation 6b X• • • • • • • • , , • •,

If you answered "Yes" to 6b, also file Form 8870

7a At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? q Yes q No

b If y es, did the foundation receive any proceeds or have any net income attributable to the transaction? 7b

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,and Contractors

I I ict ail nffi.•nrc Airnrtnrc tructaac fnunelatinn manners and thair cmmirioncatinn (see nacre 23 of the instructions).

( a) Name and address( b) Title, and average

hours per weekdevoted to position

( c) Compensation( if not paid, enter

-0-)

(d) Contr i but i ons toemployee benefit plans

and deferred com pensation

( e) Expense account,other allowances

--------------------------------------

SEE STATEMENT 14 76 , 627. -0- -0-

--------------------------------------

--------------------------------------

--------------------------------------

2 Compensation of five highest-paid employees (other than those included on line 7 - see page zs of the instructions). it none,nntar "NONF "

(a) Name and address of each employee paid more than $ 50,000( b) Title, and average

weekhours perdevoted to position

(c) Compensation

(d) Contributions toemployee benefitplans and deferredcom pensation

(e) Expense account,other allowances

--------------------------------------SEE STATEMENT 15 NONE NONE NONE

--------------------------------------

--------------------------------------

--------------------------------------

--------------------------------------

Total number of other employees paid over $50,000 . ► ( NONEForm 990-PF (2007)

JSA7E1460 2000

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10- 1

06-6141242

Form 990-PF (2007)

liffaM Information About Officers, Directors , Trustees , Foundation Managers , Highly Paid Employees,and Contractors (continued)

3 Five highest-paid independent contractors for professional services ( see page 23 of the instructions ). If none, enter " NONE."

(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation

---------------------------------------------------------SEE STATEMENT 16 NONE

----------------------------------------------------------

Total number of others receiving over $50,000 for professional services .. ► NONE

Summary of Direct Charitable Activities

List the foundation ' s four largest direct charitable activities during the tax year Include relevant statistical information such as the number

of organizations and other beneficiaries served, conferences convened , research papers produced, etcExpenses

1NONE-----------------------------------------------------------------------------------------------------------------------------------------------------

2----------------------------------------------------------------------------

-----------------------------------------------------------------------------

3 -----------------------------------------------------------------------------

-----------------------------------------------------------------------------

4

----------------------------------------------------------------------------

n a Summarv of Prnnram-Rplated InvestmPntc (see nave 74 of the instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2 Amount

1VARIOUS-NEW STUDENT-LOANS------------------------------------------------------------------------------------------------------------------------------

7 5002----------------------------------------------------------------------------

-----------------------------------------------------------------------------

All other program-related investments See page 24 of the instructions

3NONE----------------------------------------------------------------------------------------------------------------------------------------------------------

Total . Add lines 1 throu g h 3 . 17 , 500

Form 990-PF 12007)

JSA

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11- 1

Form 990-PF (2007) 06-6141242

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see page 24 of the instructions.)

1

a

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes

Average monthly fair market value of securities . .. , ...... • , . . • • • _ • , . . , . , • • _ • , • la 15,044,195.

b Average of monthly cash balances . . . . . . . . .. . . . . • , , • • , • , , , , , , , • • • • • • • lb 492 , 177.

c Fair market value of all other assets (see page 25 of the instructions) , , , , . . . , . • , • , , , , • • , lc NONE

d Total (add lines la, b, and c) • , • , • . • , _ ld 15 , 536 , 372o

e

2

Reduction claimed for blockage or other factors reported on lines la and

1c (attach detailed explanation) . . . . . ........ . le

Acquisition indebtedness applicable to line 1 assets 2 NONE3 Subtract line 2 from line ld ...........

.

.

3 15 1 536 , 372.

4....E.nter.. 1. 1../2.%.of lin.e3 .(for..g.reater...a..mou ntCash deemed held for charitable activities. , see page 25

of the instructions) .............................................. 4 233 , 046.5 Net value of noncharitable -use assets . Subtract line 4 from line 3. Enter here and on Part V, line 4 5 15 , 303 , 326.6 Minimum investment return . Enter 5%of line 5 6 765 , 166.

Distributable Amount (see page 25 of the instructions) (Section 4942(j)(3) and (1)(5) private operating

foundations and certain foreign organizations check here ► 171and do not complete this part.)

1 Minimum investment return from Part X, line 6 . . . ........ . . . . . . . . . . . . . . . . . 1 765 , 166.

2a

b

c

Tax on investment income for 2007 from Part VI, line 5 , • , , • 2a 32 , 094.

Income tax for 2007. (This does not include the tax from Part VI.) 2b

Add lines 2a and 2b ............. 2c 32 094 .

3.............................. ..

Distributable amount before adjustments. Subtract line 2c from line 1 , , • . . . . . . . . . . . . . . 3 733 , 072.

4 Recoveries of amounts treated as qualifying distributions . . . . . . . . . . .. . . . . . . . . . . . . . 4 57 , 997.5 Add lines 3 and 4 5 791 , 069.6 Deduction from distributable amount (see page 25 of the instructions) , , • • • • • • 6 NONE7 Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,

line 1 • • • • • • • • 7 791 , 069.

Qualifying Distributions (see page 26 of the instructions)

1

a

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc. - total from Part I, column (d), line 26 , , , . • . • • • , • , , , • , , la 742 , 102.b Program-related investments - total from Part IX-B lb 17- , 500.

2 Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes . . . . . . . . . . . . . . .. .... ... . ...... . . . . . . . . . . . . . z l_____

3 Amounts set aside for specific charitable projects that satisfy the

a Suitability test ( prior IRS approval required) _ . , • • • • . • . . . • • , , , . , , , _ , • • • • • • , , , 3a NONE

b Cash distribution test ( attach the required schedule ) • , , , , • • • • • • , , , , , , , , • • • • • 3b NONE

4 Qualifying distributions Add lines 1a through 3b Enter here and on Part V , line 8, and Part XIII, line 4 • • • 4 759 , 602.

5 Foundations that qualify under section 4940 ( e) for the reduced rate of tax on net investment income.

Enter 1 % of Part I , line 27b ( see page 26 of the instructions) .. 5 N /A

6 Adjusted qualifying distributions . Subtract line 5 from line 4 6 759 , 602.

Note : The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundationqualifies for the section 4940 (e) reduction of tax in those years

Form 990-PF (2007)

JSA

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06-6141242

-PF (2007)

Undistributed Income ( see page 26 of the instructions)

( a) (b) (c) (d)

1 Distributable amount for 2007 from Part XI, Corpus Years prior to 2006 2006 2007

line 7 . . . . . . . . . . . . . . . . . . . . . 791 , 069.

2 Undistributed income, if any, as of the end of 2006

a Enter amount for 2006 only . . . . . . . . NON

b Total for prior years 2005 , NON3 Excess distributions carryover, if any, to 2007.

a From 2002 , , , , , , 91 , 723.b From 2003 NONE

c From 2004 NONE

d From 2005 , , , NONE

e From 2006 , , , NONE

f Total of lines 3a through e . . . . . . . . . . 91 723

4 Qualifying distributions for 2007 from Part XII,

line4 ► $ 759,602.a Applied to 2006 , but not more than line 2a . . NON

b Applied to undistributed income of prior years ( Election

required - see page 27 of the instructions) . . . . NON

c Treated as distributions out of corpus ( Election

required - see page 27 of the instructions ) . . , . NON

d Applied to 2007 distributable amount . . . . 759 , 602.

e Remaining amount distributed out of corpus . . NON

5 Excess distributions carryover applied to 2007 . 31 , 467 . 31 , 467.(If an amount appears in column (d), the sameamount must be shown in column (a) )

6 Enter the net total of each column asindicated below:

a Corpus Add lines 3f, 4c, and 4e Subtract line 5 60 , 256

b Prior years' undistributed income Subtractline 4b from line 2b NON

c Enter the amount of prior years ' undistributedincome for which a notice of deficiency has beenissued , or on which the section 4942 ( a) tax hasbeen previously assessed . . . . . . . . . .... NON

d Subtract line 6c from line 6b Taxable

amount - see page 27 of the instructions NON

e Undistributed income for 2006 Subtract line4a from line 2a Taxable amount - see page

NON27 of the instructions . . . . . . . . . . . . .

f Undistributed income for 2007. Subtract lines

4d and 5 from line 1. This amount must bedistributed in 2008

7 Amounts treated as distributions out of corpusto satisfy requirements imposed by section170)b))1)(F) or 4942 ( g)(3) (see page 27 of the

instructions ) . . . . .. . . . . NON8 Excess distributions carryover from 2002 not

applied on line 5 or line 7 ( see page 27 of the25660instructions ) . . . . . . . . . . . . . . . . . . .,

9 Excess distributions carryover to 2008.Subtract lines 7 and 8 from line 6a

10 Analysis of line 9:

,

a Excess from 2003 . NONE

b Excess from 2004 . NONE

c Excess from 2005 . . NONE

d Excess from 2006 . . . NONE

e Excess from 2007 . . . NONE

Form 990-PF (2007)

JSA

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Form 990-PF (2007) 06-614124 2

Private Operating Foundations ( see page 27 of the instructions and Part VII-A, question 9) NOT APPLICABL:

1 a If the foundation has received a ruling or determination letter that it is a private opera ting

foundation , and the ruling is effective for 2007, enter the date of the ruling . . . . . . . . _ . . . ►

b Check box to indicate whether the foundation is a private operating foundat ion described in section 4942 (j) (3) or 4942())(5)

f h2 dTax year Prior 3 years

T la Enter the lesser o t e a - ( e) ota

lusted net income from Part (a) 2007 ( b) 2006 (c) 2005 (d) 2004

I or the minimum investment

return from Part X for each

year listed " " , " " " "

b 85% of line 2a . . . . .

C Qualifying distributions from Part

XII, line 4 for each year listed "

d Amounts included in line 2c not

used directly for active conduct

of exempt activities . . . . .

e Qualifying distributions made

directly for active conduct of

exempt activities Subtract line

2d from line 2c " " , " " ,

3 Complete 3a , b, or c for the

alternative test relied upon

a "Assets" alternative test - enter

(1) Value of all assets . . .

(2) Value of assets qualifying

under section

4942llll311B11i1. . . . .b 'Endowment " alternative test-

enter 2 / 3 of minimum invest-

ment return shown in Part X,

line 6 for each year listed

C 'Support ' alternative test - enter

(1) Total support other than

gross investment income

(interest , dividends , rents,

payments on securities

loans (section 512la11511,or royalties) . " "" ,

(2) Support from general

public and 5 or moreexempt organizations asprovided in section 4942

1111311Blluil . . . . . .

(3) Largest amount of sup-port from an exempt

organization " " " " "

(4) Gross investment income "

Supplementary Information (Complete this part only if the foundation had $5 ,000 or more in assets at anytime during the year - see page 28 of the instructions.)

1 Information Regarding Foundation Managers:

a List any managers of the foundation who have contributed more than 2% of the total contributions received by the foundationbefore the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

N/A

b List any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the

ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

N/A

2 Information Regarding Contribution , Grant, Gift, Loan, Scholarship , etc., Programs:

Check here ► q if the foundation only makes contributions to preselected charitable organizations and does not acceptunsolicited requests for funds. If the foundation makes gifts, grants, etc. (see page 28 of the instructions) to individuals ororganizations under other conditions, complete items 2a, b, c, and d.

a The name , address , and telephone number of the person to whom applications should be addressed:

SEE STATEMENT 17

b The form in which applications should be submitted and information and materials they should include:

SEE ATTACHED STATEMENT FOR LINE 2

c Any submission deadlines:

SEE ATTACHED STATEMENT FOR LINE 2

d Any restrictions or limitations on awards , such as by geographical areas , charitable fields , kinds of institutions, or otherfactors:

SEE ATTACHED STATEMENT FOR LINE 2JSA

7E1490 2 000 Form 990-PF (2007)

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14- 1

06-6141242

Form 990-PF (2007) Page

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment

Reci p ient If recipient is an individual ,show any relationship to

Foundationf

Purpose of grant or Amount

Name and address (home or business) orr substantial

on manag e ,contributorro

status orecipient

contribution

a Paid during the year

SEE STATEMENT 18

..................................................Total 3a 678 799.

b Approved for future payment

Total 3b.................................................. Ill-

Form 990-PF (2007)

JSA

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- 15- 1

06-6141242Form 990-PF (2007)

Analysis of Income-Producing Activities

Enter gr

1 Pro

a

b

c

d

e

f

9

2 Men

3 Inter

4 Divi

5 Net

a

b

6 Net

7 Oth

8 Gai

9 Net

10 Gro

11 Oth

b

c

d

e

12 Sub

oss amounts unless otherwise indicated Unrelated business income Excluded by section 512 , 513, or 514tRelated (or exem

ram service revenue

(a)Business code

(b)Amount

(c)

Exclusion code

(d )

Amount

pTunction income(See page 28 ofthe instructions.)

Fees and contracts from government agencies

bership dues and assessments , , . . .

est on savings and temporary cash investments

dends and interest from securities . . . 14 507 , 358.

rental income or ( loss) from real estate

Debt-financed property , , , . . . . .,

Not debt-financed property . . . . . . .

rental income or ( loss) from personal property

er investment income . . . . . . .. . .

or (loss ) from sales of assets other than inventory 18 1,128 , 873.

income or ( loss) from special events , , ,

ss profit or (loss ) from sales of inventory .

errevenue a

total . Add columns ( b), (d), and (e) . . . 1, 636, 231.

g

n

13 Total . Add line 12, columns (b), (d), and (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 1,636,231.

(See worksheet in line 13 instructions on page 29 to verify calculations.)

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No . Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to

. the accomplishment of the foundation's exempt purposes (other than by providing funds for such purposes). (See

page 29 of the instructions.)

APPLICABLE

Form 990-PF (2007)JSA

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16- 1

Form 990-PF (2007) 06-6141242 Information Regarding Transfers To and Transactions and Relationships With NoncharitableExempt Organizations

1 Did the organization directly or indirectly engage in any of the following with any other organization described in section Yes No-

501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations'

a Transfers from the reporting foundation to a noncharitable exempt organization of

(1) Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1a(1) X

(2) Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1a(2) X

b Other transactions

(1) Sales of assets to a noncharitable exempt organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b(1) X

(2) Purchases of assets from a noncharitable exempt organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b(2) X

( 3) Rental of facilities, equipment, or other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b(3) X

(4) Reimbursement arrangements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b(4) X

(5) Loans or loan guarantees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b(5) X

(6) Performance of services or membership or fundraising solicitations . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b(6) X

c Sharing of facilities, equipment, mailing lists, other assets, or paid employees . . . . . . . . . . . . . . . . . . . . . . . . . 1c X

d If the answer to any of the above is "Yes," complete the following schedule Column (b) should always show the fair market v

other assets, or services given by the reporting foundation If the foundation received less than fair market value in any tran

arrangement, show in column (d) the value of the goods, other assets, or services received

alue o

sactio

f the goods,

n or sharing

( a) Name of organization ( b) Type of organization ( c) Description of relationship

Under penalties of perjury, I declare that I have examined this return , including accompanying schedules and statements, and to the best of my knowledge andbelief , i rue, correct , and complete Declaration of preparer (other than taxpayer or fiduciary ) is based on all information of which preparer has any knowledge

'w S i g nature of officer or trustee AUSTIN WENTWORTHwx

oPreparer's

N signature

d ( Firm 's name ( or yours ifself-employed), address,

and ZIP code

JSA

7E1493 2 000

ES9676 L775 05/20/2008 14:38:20

2 a Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations described in

section 501(c) of the Code (other than section 501(c((3)) or in section 5277 . . . . . . . . . . . . . . . . . . . . . . . . . q Yes EANo

k If "Vnc " mnlatn the fniin,u,nn erhnri„lo

17- 1

FORM 990-PF - PART IVCAPITAL GAINS AND LOSSES FOR TAX ON INVESTMENT INCOME

Kind of Property Descriptionp

Dateacquired

Date sold

Gross sale Depreciation Cost or FMV Add basis Excess of Gainprice less allowed / other as of as of FMV over or

ex penses of sale all owa b le ad i basis loss

TOTAL SHORT-TERM COMMON TRUST FUND ANDPARTNERSHIP, S CORPORATION, AND OTHERESTATES OR TRUST GAIN OR LOSS 59,857.

TOTAL LONG-TERM CAPITAL GAIN DIVIDENDS 45,387.

TOTAL LONG-TERM COMMON TRUST FUND ANDPARTNERSHIP, S CORPORATION, AND OTHERESTATES OR TRUST GAIN OR LOSS 112,612.

100. COMPUTER SCIENCES CORP 10/04/2000 02/07/2007PROPERTY TYPE: SECURITIES

5,473.00 7,056.00 -1,583.00

700. CONSOLIDATED EDISON INC 06/19/2003 02/07/2007PROPERTY TYPE: SECURITIES

34,161.00 30,471.00 3,690.00


2,440.00 2,016.00 424.00


39,041.00 31,079.00 7,962.00

148. AMERICAN INTERNATIONAL GROUP INC 01/03/2001 02/09/2007PROPERTY TYPE: SECURITIES

10,157.00 14,195.00 -4,038.00


10,295.00 12,428.00 -2,133.00


686.00 701.00 -15.00

474. BURLINGTON NORTHERN SANTA FE CORP 11/16/1994 02/09/2007PROPERTY TYPE: SECURITIES

37,543.00 7,674.00 29,869.00

JSA7E1730 1 000

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18- 1

FORM 990-PF - PART IV(_APITAI RAINS AND LOSSES FOR TAX ON INVESTMENT INCOME

Kind of Property Description

P

pDate

acquiredDate sold

Gross sale Depreciation Cost or FMV Add basis Excess of Gain

price less allowed / other as of as of FMV over or

ex enses of sale allowable b gug 12/31/69 17/11/69 ad i basis ( loss )

1013. JANUS CAP GROUP INC COM 07/21/2005 02/09/2007PROPERTY TYPE: SECURITIES

21,481.00 16,062.00 5,419.00

120. JANUS CAP GROUP INC COM 07/21/2005 02/09/2007PROPERTY TYPE: SECURITIES

2,545.00 1,902.00 643.00

384. 3M CO COM 07/20/1998 02/09/2007PROPERTY TYPE: SECURITIES

28,694.00 16,087.00 12,607.00

8. UNITED TECHNOLOGIES CORP 12/15/1999 02/09/2007PROPERTY TYPE: SECURITIES

542.00 232.00 310.00

72. ACE LTD SEDOL #2008853 05/24/2002 02/09/2007PROPERTY TYPE: SECURITIES

4,213.00 2,553.00 1,660.00


15,623.00 9,103.00 6,520.00

143. WILLIS GROUP HLDGS LTD COM 02/02/2004 02/09/2007PROPERTY TYPE: SECURITIES

5,749.00 5,178.00 571.00

392. AIR PRODUCTS AND CHEMICALS INC 06/24/2003 02/27/2007

PROPERTY TYPE: SECURITIES29,617.00 16,429.00 13,188.00


26,347.00 35,279.00 -8,932.00

4. COMPUTER SCIENCES CORP 03/09/2001 02/27/2007

PROPERTY TYPE: SECURITIES211.00 222.00 -11.00

146. COMPUTER SCIENCES CORP 03/09/2001 02/27/2007

PROPERTY TYPE: SECURITIES7,693.00 8,075.00 -382.00

J5n7E1730 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 18


Kind of Property DescriptionD

Dateacquired

Date sold


ex enses of sale allowable hasis 12/31 /F;9 12/31/69 ad i basis ( loss )


9,643.00 7,498.00 2,145.00

932. COUNTRYWIDE CREDIT INDUSTRIES INC 01/22/1997 02/27/2007PROPERTY TYPE: SECURITIES

35,423.00 6,984.00 28,439.00

91. GOLDMAN SACHS GROUP INC 03/31/2005 02/27/2007PROPERTY TYPE: SECURITIES

18,563.00 10,014.00 8,549.00

927. PPG INDUSTRIES INC 05/17/2001 02/27/2007PROPERTY TYPE: SECURITIES

61,103.00 54,703.00 6,400.00

73. PPG INDUSTRIES INC 05/18/2001 02/27/2007PROPERTY TYPE: SECURITIES

4,812.00 4,293.00 519.00

485. UNITED PARCEL SERVICE CL B 01/25/2006 02/27/2007PROPERTY TYPE: SECURITIES

34,783.00 37,160.00 -2,377.00


19,985.00 12,103.00 7,882.00

2172. COUNTRYWIDE CREDIT INDUSTRIES INC 01/22/1997 03/13/2007PROPERTY TYPE: SECURITIES

72,982.00 16,276.00 56,706.00

308. MERRILL LYNCH & CO INC 03/19/2004 03/13/2007PROPERTY TYPE: SECURITIES

24,785.00 18,838.00 5,947.00

1. IDEARC INC COM 01/25/2006 04/05/2007PROPERTY TYPE: SECURITIES

35.00 23.00 12.00

22.4 IDEARC INC COM 06/13/1995 04/05/2007PROPERTY TYPE: SECURITIES

794.00 449.00 345.00

JSA7E1730 1 000

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20- 1


F-Kind of Property Description

PD

Dateacquired

Date sold


ex enses of sale allowa b le 2/31/6 12/31/69 ad i basis loss

61. IDEARC INC COM 10/17/1994 04/05/2007PROPERTY TYPE: SECURITIES

2,163.00 1,125.00 1,038.00


649.00 335.00 314.00


216.00 112.00 104.00


216.00 111.00 105.00


216.00 111.00 105.00

1150. MEADWESTVACO CORP COM 02/08/2005 04/05/2007PROPERTY TYPE: SECURITIES

35,970.00 34,124.00 1,846.00

1818. STAPLES INCORPORATED 05/16/2001 04/05/2007PROPERTY TYPE: SECURITIES

47,788.00 19,642.00 28,146.00

426. WAL-MART STORES INCORPORATED 09/10/2004 04/05/2007PROPERTY TYPE: SECURITIES

20,581.00 22,426.00 -1,845.00

566. WASTE MANAGEMENT INC 11/03/1997 04/05/2007PROPERTY TYPE: SECURITIES

19,538.00 18,377.00 1,161.00

797. WELLS FARGO COMPANY 09/08/1997 04/05/2007PROPERTY TYPE: SECURITIES

27,405.00 10,659.00 16,746.00

.593 KRAFT FOODS INC CL A COM 02/08/2005 04/20/2007PROPERTY TYPE: SECURITIES

19.00 20.00 -1.00

JSA7E 1730 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 20



Dateacquired

Date sold


ex enses of sale allowab le hasis 12/31/69 12/31/69 ad i basis ( loss )

.25 BROADRIDGE FINL SOLUTIONS INC COM 02/08/2005 04/25/2007PROPERTY TYPE: SECURITIES

5.00 5.00

.612 KBR INC COM 02/02/2004 05/01/2007PROPERTY TYPE: SECURITIES

13.00 6.00 7.00


8,968.00 1,619.00 7,349.00

100. CIGNA CORPORATION 02/11/2000 05/07/2007PROPERTY TYPE: SECURITIES

16,162.00 8,002.00 8,160.00


16,611.00 12,291.00 4,320.00

200. HARRIS CORP DEL 08/13/1997 05/07/2007PROPERTY TYPE: SECURITIES

9,826.00 3,516.00 6,310.00


9,826.00 2,311.00 7,515.00

2000. MICROSOFT CORPORATION 06/19/2003 05/07/2007PROPERTY TYPE: SECURITIES

61,274.00 52,610.00 8,664.00

200. NOKIA CORPORATION SPONSORED ADR 01/17/2006 05/07/2007PROPERTY TYPE: SECURITIES

5,022.00 3,720.00 1,302.00

859. SLM CORP COM 01/04/2007 05/07/2007PROPERTY TYPE: SECURITIES

46,760.00 42,218.00 4,542.00


24,920.00 10,804.00 14,116.00

JSA7E1730 1 000

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22- 1


Kind of Property DescriptionP

DDate

acquiredDate sold

Gross sale Depreciation Cost or FMV Add basis Excess of Gain

price less allowed/ other as of as of FMV over orex enses of sale allowable basis 1 12/31/69 ad i basis ( loss )

1118. TEXAS INSTRS INC 07/09/1998 05/07/2007PROPERTY TYPE: SECURITIES

39,281.00 16,720.00 22,561.00


846.00 419.00 427.00

500. TIME WARNER INC NEW COM 02/03/2004 05/07/2007PROPERTY TYPE: SECURITIES

10,809.00 8,593.00 2,216.00

100. VIACOM INC CL B COM 07/14/2003 05/07/2007PROPERTY TYPE: SECURITIES

4,178.00 5,413.00 -1,235.00

699. WAL-MART STORES INCORPORATED 09/10/2004 05/07/2007PROPERTY TYPE: SECURITIES

33,977.00 36,798.00 -2,821.00

500. ACCENTURE LTD COM 03/19/2004 05/07/2007PROPERTY TYPE: SECURITIES

19,124.00 12,044.00 7,080.00


1,070.00 1,353.00 -283.00


35,326.00 41,003.00 -5,677.00

222. HERSHEY FOODS CORP 02/08/2005 06/15/2007PROPERTY TYPE: SECURITIES

11,329.00 13,535.00 -2,206.00

150. HERSHEY FOODS CORP 10/20/2006 06/15/2007PROPERTY TYPE: SECURITIES

7,655.00 7,692.00 -37.00

999.407 KRAFT FOODS INC CL A COM 02/08/2005 06/15/2007PROPERTY TYPE: SECURITIES

35,450.00 33,687.00 1,763.00

JA7E1730 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 22

23- 1



Dateacquired

Date sold


ex penses of sale allowable hasig 12/31 /H 12/31/69 ad i basis ( loss )


4,909.00 4,089.00 820.00


3,854.00 2,782.00 1,072.00


6,137.00 3,984.00 2,153.00


2,774.00 1,779.00 995.00


10,972.00 7,026.00 3,946.00


5,948.00 4,097.00 1,851.00

250. MARATHON OIL CORP COM 11/21/2003 06/25/2007PROPERTY TYPE: SECURITIES

15,695.00 3,656.00 12,039.00


14,460.00 6,483.00 7,977.00


49,026.00 23,628.00 25,398.00


42,959.00 34,370.00 8,589.00


15,657.00 8,523.00 7,134.00

JSA7E1730 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 23

24- 1

FORM 990-PF - PART IVCAPITAL GAINS AND LOSSES FOR TAX ON I NVESTMENT INCOME


P

DDate

acquiredDate sold


ex enses of sale allowable hasis 12/31/69 12/31169 ad i basis ( loss )


10,585.00 6,022.00 4,563.00

.315 CITADEL BROADCASTING CORP COM 05/01/2002 06/29/2007PROPERTY TYPE: SECURITIES

2.00 1.00 1.00


22,655.00 11,445.00 11,210.00


7,750.00 5,627.00 2,123.00


29,484.00 20,595.00 8,889.00


25,693.00 17,059.00 8,634.00

115.225 MERRILL LYNCH & CO INC 12/08/2003 06/29/2007PROPERTY TYPE: SECURITIES

9,704.00 6,444.00 3,260.00

129.775 MERRILL LYNCH & CO INC 12/09/2003 06/29/2007PROPERTY TYPE: SECURITIES

10,929.00 7,243.00 3,686.00

1150. ARCHSTONE-SMITH TR 11/21/2003 07/06/2007PROPERTY TYPE: SECURITIES

68,263.00 31,077.00 37,186.00


8,598.00 1,619.00 6,979.00


651.00 320.00 331.00

JN7E1730 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 24

25- 1


Kind of Property DescriptionP

pDate

acquiredDate sold

Gross sale Depreciation Cost or FMV Add basis Excess of Gainprice less allowed / other

1as of as of FMV over or

ex penses of sale,N

able 12/31/69 12/31/69 ad i basis ( loss )


10,191.00 4,653.00 5,538.00

400. DISNEY WALT CO 05/01/2002 07/06/2007PROPERTY TYPE: SECURITIES

13,780.00 9,580.00 4,200.00

150. GENERAL DYNAMICS CORP 02/03/2004 07/06/2007PROPERTY TYPE: SECURITIES

11,922.00 6,894.00 5,028.00

200. PENNEY J C INC 02/07/2007 07/06/2007PROPERTY TYPE: SECURITIES

14,520.00 17,000.00 -2,480.00

150. PEPSICO INCORPORATED 09/28/1994 07/06/2007PROPERTY TYPE: SECURITIES

9,922.00 2,295.00 7,627.00


12,341.00 5,402.00 6,939.00


14,749.00 12,030.00 2,719.00


8,580.00 4,818.00 3,762.00

.82 BANK NEW YORK MELLON CORP COM 03/19/2004 07/30/2007PROPERTY TYPE: SECURITIES

35.00 29.00 6.00

.375 TAIWAN SEMICONDUCTOR MFG LTD SPONSO 01/17/2006 08/06/2007PROPERTY TYPE: SECURITIES

4.00 4.00

99.75 BROADRIDGE FINL SOLUTIONS INC COM 02/08/2005 08/14/2007PROPERTY TYPE: SECURITIES

1,771.00 1,794.00 -23.00

JSA7E1730 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 25



Dateacquired

Date sold


ex penses of sale allowable hasis 12/31/69 12/31/69 ad i basis ( loss )

104.25 BROADRIDGE FINL SOLUTIONS INC COM 07/21/2005 08/14/2007PROPERTY TYPE: SECURITIES

1,850.00 1,867.00 -17.00

189.602 CITADEL BROADCASTING CORP COM 05/01/2002 08/14/2007PROPERTY TYPE: SECURITIES

865.00 790.00 75.00

38.398 CITADEL BROADCASTING CORP COM 06/27/2002 08/14/2007PROPERTY TYPE: SECURITIES

175.00 125.00 50.00

1102. CONOCOPHILLIPS COM 06/27/2002 08/14/2007PROPERTY TYPE: SECURITIES

86,867.00 31,767.00 55,100.00

480. CONOCOPHILLIPS COM 06/27/2002 08/14/2007PROPERTY TYPE: SECURITIES

37,837.00 13,733.00 24,104.00

412. DISCOVER FINL SVCS COM 06/29/2007 08/14/2007PROPERTY TYPE: SECURITIES

9,033.00 11,439.00 -2,406.00

696. HONEYWELL INTERNATIONAL INC 10/08/1997 08/14/2007PROPERTY TYPE: SECURITIES

39,643.00 24,833.00 14,810.00


6,365.00 7,461.00 -1,096.00


40,672.00 36,155.00 4,517.00


41,145.00 11,115.00 30,030.00

1082. STAPLES INCORPORATED 05/16/2001 09/07/2007


JJA

7E1730 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 26

27- 1



P

pDate

acquiredDate sold

Gross sale Depreciation Cost or FMV Adj. basis Excess of Gainprice less allowed/ other as of as of FMV over or

ex enses of sale allowa b l e ad i basis ( loss )


50,284.00 19,737.00 30,547.00

164. COLGATE PALMOLIVE CO 02/08/2005 09/14/2007PROPERTY TYPE: SECURITIES

11,146.00 9,058.00 2,088.00


14,424.00 10,939.00 3,485.00


5,402.00 3,582.00 1,820.00

378. HONEYWELL INTERNATIONAL INC 10/08/1997 09/14/2007PROPERTY TYPE: SECURITIES

21,235.00 13,487.00 7,748.00

211. J P MORGAN CHASE & CO COM 05/01/1996 09/14/2007PROPERTY TYPE: SECURITIES

9,583.00 5,069.00 4,514.00

801. KBR INC COM 02/02/2004 09/14/2007PROPERTY TYPE: SECURITIES

29,423.00 7,686.00 21,737.00

541. LYONDELL CHEMICAL CO COM 04/05/2007 09/14/2007PROPERTY TYPE: SECURITIES

24,869.00 16,920.00 7,949.00

50. LYONDELL CHEMICAL CO COM 04/11/2007 09/14/2007PROPERTY TYPE: SECURITIES

2,298.00 1,561.00 737.00


20,866.00 7,982.00 12,884.00


3,291.00 648.00 2,643.00

JJA7E1730 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 27

28- 1


Kind of Property DescriptionD

Dateacquired

Date sold


ex arises of sale allowabl e ad' basis ( loss )


24,683.00 4,687.00 19,996.00


8,706.00 4,842.00 3,864.00


15,580.00 3,086.00 12,494.00


15,422.00 9,635.00 5,787.00


2,159.00 1,065.00 1,094.00

443. BANK NEW YORK MELLON CORP COM 03/19/2004 09/28/2007PROPERTY TYPE: SECURITIES

19,640.00 15,455.00 4,185.00

589. CISCO SYSTEMS INCORPORATED 04/05/2005 09/28/2007PROPERTY TYPE: SECURITIES

19,496.00 10,554.00 8,942.00

84. ACE LTD SEDOL #2008853 05/23/2002 09/28/2007


579. ACCENTURE LTD COM 07/14/2003 10/03/2007



13,295.00 14,867.00 -1,572.00

432. J P MORGAN CHASE & CO COM 05/01/1996 10/24/2007


JSA7E1730 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 28

29- 1



Dateacquired

Date sold

Gross sale Depreciation Cost or FMV Adj. basis Excess of Gainprice less allowed/ other

1as of as of FMV over or

expenses of sale allowable h;iqi, 12/31/69 12/31/69 ad basis ( loss )

40. LINCOLN NATL CORP IND 09/12/2000 10/24/2007PROPERTY TYPE: SECURITIES

2,527.00 2,203.00 324.00

552. TRAVELERS COS INC COM 01/25/2006 10/24/2007PROPERTY TYPE: SECURITIES

27,762.00 24,783.00 2,979.00

64. WACHOVIA CORP 2ND NEW 01/25/2006 10/24/2007PROPERTY TYPE: SECURITIES

2,869.00 3,351.00 -482.00

658. WACHOVIA CORP 2ND NEW 03/31/2005 10/24/2007PROPERTY TYPE: SECURITIES

29,492.00 33,709.00 -4,217.00

564. WELLS FARGO COMPANY 09/08/1997 10/24/2007PROPERTY TYPE: SECURITIES

18,876.00 7,543.00 11,333.00


28,636.00 33,520.00 _ -4,884.00


50,922.00 50,468.00 454.00


14,734.00 7,483.00 7,251.00


9,750.00 4,874.00 4,876.00


30,551.00 15,260.00 15,291.00

1833. CISCO SYSTEMS INCORPORATED 04/05/2005 11/09/2007PROPERTY TYPE: SECURITIES

52,462.00 32,846.00 19,616.00

JSA7E1730 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 29

30- 1



P

pDate

acquiredDate sold


ex penses of sale allowable basis 12/31/69 12/31/69 ad i basis ( loss )


37,258.00 20,254.00 17,004.00


23,988.00 6,435.00 17,553.00

1200. AXIS CAP HLDGS LTD COM 10/20/2006 01/17/2008PROPERTY TYPE: SECURITIES

48,315.00 40,653.00 7,662.00

TOTAL GAIN(LOSS) ...... ........................................ 1,128,873.

JJA

7E1730 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 30

31- 1

RAY & PAULINE SULLIVAN FDN

FORM 990PF, PART I - DIVIDENDS AND INTEREST FROM SECURITIES----------------------------------------------------------------------------------------------------------------------

DESCRIPTION

AT&T INC COMABBOTT LABORATORIESAIR PRODUCTS AND CHEMICALS INCALTRIA GROUP INC COMAMERICAN ELECTRIC POWER COAMERICAN INTERNATIONAL GROUP INCANHEUSER BUSCH COS INCARCHSTONE-SMITH TRAUTOMATIC DATA PROCESSING INCAVON PRODUCTS INCBP AMOCO PLC SPONS ADR (UK/USD) SEDOL 21BANK NEW YORK INCORPORATEDBANK NEW YORK MELLON CORP COMBOEING COBRISTOL MYERS SQUIBB COMPANYBROADRIDGE FINL SOLUTIONS INC COMBURLINGTON NORTHERN SANTA FE CORPCBS CORP NEW CL B COMCIGNA CORPORATIONINTERM GOVT/CREDIT BOND CTFSMALL CAP CTFCHEVRONTEXACO CORP COMCITIGROUP INCCOCA COLA CO COMCOLGATE PALMOLIVE COCOLUMBIA MULTI-ADVISOR INTL EQUITY FUNDAGGREGATE BOND CTFCONAGRA INCSMALL CAP GROWTH CTFCONOCOPHILLIPS COMCOUNTRYWIDE CREDIT INDUSTRIES INCDEERE & COMPANY

ES9676 L775 05/20/2008 14:38:20

REVENUEAND

EXPENSESPER BOOKS

7,408.1,305.1,323.3,595.

969.816.

1,835.460.801.744.

3,749.1,012.

935.74.

700.12.

354.1,269.

45.53,333.8,499.2,567.7,344.1,142.1,849.

29,495.95,351.2,008.2,381.1,946.

466.290.

217-099008538300

06-6141242

NETINVESTMENT

INCOME

7,408.1,305.1,323.3,595.

969.816.

1,835.460.801.744.

3,749.1, 012.

935.74.

700.12.

354.1,269.

45.53,333.8,499.2,567.7,344.1,142.1,849.

29,495.95,351.2,008.2,381.1,946.

466.290.

31 STATEMENT 1

- 32- 1

RAY & PAULINE SULLIVAN FDN 06-6141242


REVENUEAND NET

EXPENSES INVESTMENTDESCRIPTION PER BOOKS INCOME-----------DIAGEO SPONSORED ADR (UK-USD) SEDOL #213

---------3,487.

------3,487.

DISNEY WALT CO 901. 901.DISCOVER FINL SVCS COM 73. 73.DOMINION RESOURCES INC 1,253. 1,253.DOW CHEMICAL COMPANY 1,427. 1,427.DUPONT E I DE NEMOURS & CO COM 2,593. 2,593.ENTERGY CORPORATION NEW 761. 761.EXELON CORP COM 781. 781.EXXON MOBIL CORPORATION 4,783. 4,783.FPL GROUP INC COM 887. 887.FEDERAL HOME LN MTG CORP 360. 360.FEDERATED DEPARTMENT STORES 69. 69.FEDERATED INVESTORS INC CL B 1,414. 1,414.FIDELITY INSTITUTIONAL MONEY MARKET #59 20,815. 20,815.GENERAL DYNAMICS CORP 837. 837.GENERAL ELEC CO 8,362. 8,362.GENERAL MILLS INC 724. 724.GLAXO PLC 2,241. 2,241.GOLDMAN SACHS GROUP INC 506. 506.HALLIBURTON CO 292. 292.HARRIS CORP DEL 888. 888.HARTFORD FINANCIAL SVCS GRP 1,534. 1,534.HEINZ H J CO 1,299. 1,299.HERSHEY FOODS CORP 201. 201.HEWLETT PACKARD COMPANY 767. 767.HOME DEPOT INC 633. 633.HONEYWELL INTERNATIONAL INC 1,358. 1,358.IDEARC INC COM 41. 41.INTEL CORPORATION 1,313. 1,313.INTERNATIONAL BUSINESS MACHS 1,958. 1,958.ISHARES MSCI EMERGING MKTS INDEX FUND 4,977. 4,977.ISHR MSCI EAFE INDEX FUND 18,512. 18,512.J P MORGAN CHASE & CO COM 4,684. 4,684.

ES9676 L775 05/20/2008 14:38:20 217-099008538300 32 STATEMENT 2

P;;

- 33- 1



REVENUEAND NET

EXPENSES INVESTMENTDESCRIPTION PER BOOKS INCOME-----------JOHNSON & JOHNSON

---------3,146.

------3,146.

KIMBERLY CLARK CORP COM 2,169. 2,169.KRAFT FOODS INC CL A COM 250. 250.LINCOLN NATL CORP IND 3,792. 3,792.LYONDELL CHEMICAL CO COM 266. 266.MACYS INC COM 605. 605.MARATHON OIL CORP COM 926. 926.MCDONALDS CORP 4,394. 4,394.MCGRAW HILL INCORPORATED 512. 512.MEADWESTVACO CORP COM 265. 265.MERCK & CO INC COM 3,534. 3,534.MERRILL LYNCH & CO INC 802. 802.METLIFE INC 895. 895.MICROSOFT CORPORATION 1,680. 1,680.MORGAN STANLEY DEAN WITTER DISCOVER & CO 667. 667.

NOKIA CORPORATION SPONSORED ADR 2,318. 2,318.NOVARTIS AG ADR 787. 787.OCCIDENTAL PETROLEUM CORPORATION 167. 167.P G & E CORPORATION 1,256. 1,256.PNC BK CORP 740. 740.

PPG INDUSTRIES INC 500. 500.PPL CORPORATION 251. 251.PENNEY J C INC 509. 509.PEPSICO INCORPORATED 1,301. 1,301.PFIZER INC 7,902. 7,902.PRINCIPAL FINL GROUP INC COM 1,256. 1,256.PROCTER & GAMBLE CO COM 2,576. 2,576.PUBLIC SERVICE ENTERPRISE GROUP INC 948. 948.REYNOLDS AMERN INC COM 327. 327.SLM CORP COM 215. 215.SHERWIN WILLIAMS COMPANY 1,405. 1,405.SOUTHERN CO 3,828. 3,828.SPRINT CORPORATION 275. 275.

ES9676 L775 05/20/2008 14:38:20 217-099008538300 33 STATEMENT 3

34- 1



DESCRIPTION

STAPLES INCORPORATEDSTATE STREET CORPTAIWAN SEMICONDUCTOR MFG LTD SPONSORED ATEXAS INSTRS INC3M CO COMTIME WARNER INC NEW COMTRAVELERS COS INC COMUS BANCORP DEL COM NEWUNITED PARCEL SERVICE CL BUNITED TECHNOLOGIES CORPUNUMPROVIDENT CORPVERIZON COMMUNICATIONSWACHOVIA CORP 2ND NEWWAL-MART STORES INCORPORATEDWASTE MANAGEMENT INCWELLS FARGO COMPANYWINDSTREAM CORP COMWYETH COMGOVERNMENT CREDIT CTFBANK OF AMERICA MONEY MARKET SAVINGS ACCACE LTD SEDOL #2008853AXIS CAP HLDGS LTD COMACCENTURE LTD COMWILLIS GROUP HLDGS LTD COM

TOTAL

ES9676 L775 05/20/2008 14:38:20

06-6141242

REVENUEAND

EXPENSESPER BOOKS

1,450.276.

1,676.134.546.842.

1,211.3,575.

204.3,020.1,120.4,323.1,271.1,041.2,477.2, 922.

531.1,830.

94,862.4,099.1,318.

816.447.

2,095.

507,358.

217-099008538300

NETINVESTMENT

INCOME

1,450.276.

1,676.134.546.842.

1,211.3,575.

204.3,020.1,120.4,323.1,271.1,041.2,477.2,922.

531.1,830.

94,862.4,099.1,318.

816.447.

2,095.

507,358.

34 STATEMENT 4

- 35- 1


FORM 990PF, PART I - LEGAL FEES--------------------------------------------------------------

DESCRIPTION

LEGAL FEES - PRINCIPAL (ALLOCALEGAL FEES - INCOME (ALLOCABLE

TOTALS

06-6141242

REVENUEAND NET ADJUSTED

EXPENSES INVESTMENT NET CHARITABLEPER BOOKS INCOME INCOME PURPOSES--------- ------ ------ --------

6,084. 6,084.6,084 . 6,084.

-------------- -------------- -------------- --------------12,168. NONE NONE 12,168.

-------------- -------------- -------------- ---------------------------- -------------- --------------

F

ES9676 L775 05/20/2008 14:38:20 217-099008538300 35 STATEMENT 5

- 36- 1


FORM 990PF, PART I - ACCOUNTING FEES------------------------------------------------------------------------

DESCRIPTION

AUDIT & ACCOUNTING FEES (ALLOCTAX PREPARATION FEE (NON-ALLOC

TOTALS

06-6141242

REVENUEAND NET ADJUSTED

EXPENSES INVESTMENT NET CHARITABLEPER BOOKS INCOME INCOME PURPOSES--------- ------ ------ --------

1,034. 1,034.45. 45.

-------------- -------------- -------------- --------------1,079. 1,034. NONE 45.

-------------- -------------- -------------- ---------------------------- -------------- -------------- --------------

ES9676 L775 05/20/2008 14:38:20 217-099008538300 36 STATEMENT 6

37- 1


FORM 990PF, PART I - TAXES----------------------------------------------------

DESCRIPTION

FOREIGN TAXESFEDERAL TAX PAYMENT - PRIOR YEFEDERAL ESTIMATES - INCOMEFEDERAL ESTIMATES - PRINCIPAL

TOTALS

06-6141242

REVENUEAND NET

EXPENSES INVESTMENTPER BOOKS INCOME--------- ------

3,654. 3,654.1,870.8,788.7,484.

-------------- --------------21,796. 3,654.

-------------- ---------------------------- --------------

ES9676 L775 05/20/2008 14:38:20 217-099008538300 37 STATEMENT 7

- 38- 1


FORM 990PF, PART I - OTHER EXPENSES----------------------------------------------------------------------

DESCRIPTION

OTHER

TOTALS

06-6141242

REVENUEAND

EXPENSES CHARITABLEPER BOOKS PURPOSES--------- --------

1,282. 1,282.-------------- --------------

1,282. 1,282.-------------- ---------------------------- --------------

ES9676 L775 05/20/2008 14:38:20 217-099008538300 38 STATEMENT 8

39- 1


FORM 990PF, PART II - OTHER NOTES AND LOANS RECEIVABLE------------------------------------------------------------------------------------------------------------

BORROWER:SEE ATTACHED STATEMENTS

BEGINNING BALANCE DUE ..................................... 391,319.

ENDING BALANCE DUE ........................................ 351,922.ENDING FAIR MARKET VALUE .................................. 351,922.

TOTAL BEGINNING OTHER NOTES AND LOANS RECEIVABLE 391,319.------------------------------

TOTAL ENDING BOOK - OTHER NOTES AND LOANS RECEIVABLE 351,922.------------------------------

TOTAL ENDING FMV - OTHER NOTES AND LOANS RECEIVABLE 351,922.------------------------------

STATEMENT 9

X05762000ES9676 L775 05/20/2008 14:38:20 217-099008538300 39

40- 1


FORM 990PF, PART II - OTHER INVESTMENTS------------------------------------------------------------------------------

COST/FMV BEGINNING

DESCRIPTION C OR F BOOK VALUE----------- ------ ----------

SEE ATTACHED STATEMENTS C 12,188,810.---------------

TOTALS 12 ,188,810.------------------------------

06-6141242

ES9676 L775 05/20/2008 14:38:20 217-099008538300 40 STATEMENT 10

41- 1


FORM 990PF, PART III - OTHER INCREASES IN NET WORTH OR FUND BALANCES

DESCRIPTION AMOUNT----------- ------

CTF ADJ 3,999.

RECOVERY 1,000.

BOOK VALUE ADJ. 100.

STUDENT LOANS 17,500.--------------

TOTAL 22,599.----------------------------

STATEMENT 11

XD5762000ES9676 L775 05/20/2008 14:38:20 217-099008538300 41

42- 1 rte.,


FORM 990PF, PART III - OTHER DECREASES IN NET WORTH OR FUND BALANCES

DESCRIPTION AMOUNT----------- ------

ROUNDING 2.--------------

TOTAL 2.----------------------------

XD5762000ES9676 L775 05/20/2008 14:38:20 217-099008538300

STATEMENT 12

42

- 43- 1


lk-------------------------------------------STATE ( S) WHERE THE FOUNDATION IS REGISTERED--------------------------------------------------------------------------------------

CT

06-6141242

STATEMENT 13

XD5762000ES9676 L775 05/20/2008 14:38:20 217-099008538300 43

- 44- 1


FORM 990PF, PART VIII - LIST OF OFFICERS, DIRECTORS, AND TRUSTEES

OFFICER NAME:BANK OF AMERICA

ADDRESS:777 MAIN STREETHARTFORD, CT 06115

TITLE:TRUSTEE

AVERAGE HOURS PER WEEK DEVOTED TO POSITION:COMPENSATION ..............................

TOTAL COMPENSATION:

40................ 76,627.

76,627.----------------------------

STATEMENT 14

XD576 2000ES9676 L775 05/20/2008 14:38:20 217-099008538300 44

- 45- 1^.^


990PF, PART VIII - COMPENSATION OF THE FIVE HIGHEST PAID EMPLOYEES

EMPLOYEE NAME:NONE

STATEMENT 15

XD5762000ES9676 L775 05/20/2008 14:38:20 217-099008538300 45

- 46- 1


990PF, PART VIII- COMPENSATION OF THE FIVE HIGHEST PAID PROFESSIONALS

NAME:NONE

STATEMENT 16

XD576 2000ES9676 L775 05/20/2008 14:38:20 217-099008538300 46

- 47-1.

RAY & PAULINE SULLIVAN FDNFORM,990PF, PART XV - LINES 2a - 2d----------------------------------------------------------------------

RECIPIENT NAME:N/A

FORM, INFORMATION AND MATERIALS:N/A

SUBMISSION DEADLINES:N/A

RESTRICTIONS OR LIMITATIONS ON AWARDS:N/A

06-6141242

STATEMENT 17

XD5762000ES9676 L775 05/20/2008 14:38:20 217-099008538300 47

48- 1

RAY & PAULINE SULLIVAN FDN 06-6141242FORM,99OPF, PART XV, LINE 3 - CONTRIBUTIONS, GIFTS, GRANTS PAID------------------------------------------------------------------------------------------------------------------------------

RECIPIENT NAME:SEE ATTACHED SCHEDULE

RELATIONSHIP:NONE

PURPOSE OF GRANT:SCHOLARSHIPS

FOUNDATION STATUS OF RECIPIENT:N/A

AMOUNT OF GRANT PAID ............................................ 678,799.

TOTAL GRANTS PAID: 678,799.------------------------------

STATEMENT 18

XD576 2000ES9676 L775 05/20/2008 14:38:20 217-099008538300 48

49- 1

SCHEDUI,E D

( Form 1041)

Department of the TreasuryInternal Revenue Service

Capital Gains and Losses► Attach to Form 1041, Form 5227, or Form 990-T. See the separate

instructions for Form 1041 (also for Form 5227 or Form 990-T, if applicable).

OMB No 1545-0092

2007Name of estate or trust Employer identification number


Short-Term Capital Gains and Losses - Assets Held One Year or Less(a) Description of property

(Example 100 shares 7%preferred of "Z" Co 1

(b) Dateacquired

Imo , da y, y r

(c) Date sold(mo, day, yr 1

(d) Sales price(e) Cost or other basis(see page 40 of the

instructions)

( f) Gain or (loss)for the entire yearSubtract (e) from (d)

la

b Enter the short-term gain or (loss), if any, from Schedule D-1, line lb . .. . . . .. . .... . . . . . . . . 1b 8 , 029

2 Short-term capital gain or (loss) from Forms 4684, 6252, 6781, and 8824 . . . .. .... . . . . . . . . . . 2

3 Net short-term gain or (loss) from partnerships, S corporations, and other estates or trusts 3 59 , 8574 Short-term capital loss carryover. Enter the amount, if any, from line 9 of the 2006 Capital Loss

Carryover Worksheet . . . . . . . ...... .. .. ...'

45 n column (f). Enter here and on line 13,Net short-term gain or (loss). Combine lines 1a through 4 in

column (3) on the back . . . . . . . . . . . . . . . . . . . . .... .. . . . . . .. .... .. . . . . . . ► 5 67 , 886SITU Lona-Term Caoital Gains and Losses - Assets Held More Than One Year

(a) Description of property

(Example 100 shares 7%preferred of "Z" Co 1

( b) Date

acquired(mo , da y, r 1

( c) Date soldImo

Date (d) Sales price(e) Cost or other basis(see page 40 of the

instructions)

( f) Gain or (loss)for the entire yearSubtract (e) from (d)

6a

LONG-TERM CAPITAL GAIN DIVIDENDS STMT 1 45 , 387

b Enter the long-term gain or (loss), if any, from Schedule D-1, line 6b ... . . .. ...... .. .. . . . . . . 6b 902 , 988

7 Long-term capital gain or (loss) from Forms 2439, 4684, 6252, 6781, and 8824 . .. . . . . . . , . 7

8 Net long-term gain or (loss) from partnerships, S corporations, and other estates or trusts , , , , . . . . 8 112 , 612

9 Capital gain distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

10 Gain from Form 4797, Part I . . . . . . . . . . . . . . . . . . 1011 Long-term capital loss carryover. Enter the amount, if any, from line 14 of the 2006 Capital Loss

Carryover Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

12 Net long -term gain or (loss). Combine lines 6a through 11 in column (f). Enter here and on line 14a,

column (3) on the back , , ,, , , , , , , , , , , , , , , , , , , , , , .. , .... , . ► 12 1,060,987

For Paperwork Reduction Act Notice , see the Instructions for Form 1041.JSA7F 1210 2 000

ES9676 L775 05/20/2008 14:38:20

Schedule D (Form 10411 Z007

217-099008538300 49

50- 1

Schedule D (Form 1041) 2007 2

Summa ry of Parts I and II(1 ) Beneficiaries ' ( 2) Estate's

Caution : Read the instructions before completing this part. ( see page 41 ) or trust's (3) Total

13 Net short-term gain or (loss) . .. . . . . . . . . . . . . . . . . . 13 67 , 886.

14 Net long-term gain or ( loss):

a Total for year • .. • • • .. • ... • • • ... • • • • • • • • • • • • 14a 1- 1 0-6-0 , 987.

b Unrecaptured section 1250 gain (see line 18 of the wrksht.) . . . 14b

c 28% rate gain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14c

15 Total net gain or (loss). Combine lines 13 and 14a • • • • • • • ► 15 1 , 128 , 873.

Note : If line 15, column (3), is a net gain, enter the gain on Form 1041, line 4 (or Form 990-T, Part 1, line 4a) If lines 14a and 15, column (2), are net gains, go

to Part V, and do not complete Part IV If line 15, column (3), is a net loss, complete Part IV and the Capital Loss Carryover Worksheet, as necessary

Loss Limitation

16 Enter here and enter as a (loss) on Form 1041, Ilne 4 (or Form 990-T, Part I, line 4c, if a trust), the smaller of:

a The loss on line 15, column (3) or b $3,000 , . . . - . .. . * *

. . . . . . ^ 16

Note : If the loss on line 15, column (3), is more than $3,000, or if Form 1041, page 1, line 22 (or Form 990-T, line 34), is a loss, complete the Capital LossCarryover Worksheet on page 42 of the instructions to figure your capital loss carryover

Tax Computation Using Maximum Capital Gains Rates

Form 1041 filers . Complete this part only if both lines 1 4a and 15 in column (2) are gains, or an amount is entered in Part I or Part II and

there is an entry on Form 1041, line 2b( 2), and Form 1041, line 22, is more than zero.

Caution : Skip this part and complete the worksheet on page 43 of the instructions if.

• Either line 14b, col. (2) or line 14c, col (2) is more than zero, or

• Both Form 1041, line 2b(1), and Form 4952, line 4g are more than zero.

Form 990-T trusts. Complete this part only if both lines 14a and 15 are gains, or qualified dividends are included in income in Part

of Form 990-T, and Form 990-T, line 34, is more than zero. Skip this part and complete the worksheet on page 43 of the instructions ifI

either line 14b, col. (2) or line 14c, col. (2) is more than zero.

17 Enter taxable income from Form 1041, line 22 (or Form 990-T, line 34) . .

18 Enter the smaller of line 14a or 15 in column (2)

but not less than zero .... ... . . . . . . 18

19 Enter the estate's or trust's qualified dividends

from Form 1041, line 2b(2) (or enter the qualified

dividends included in income in Part I of Form 990-T) - • 19

20 Add lines 18 and 19 •••••••••••••• 20

21 If the estate or trust is filing Form 4952, enter the

amount from line 4g; otherwise, enter -0- • • ► 21

22 Subtract line 21 from line 20. If zero or less, enter -0. . • • • • • • • • • • • 22

23 Subtract line 22 from line 17. If zero or less, enter -0. . . . . . . . . . . . . .23

24 Enter the smaller of the amount on line 17 or $2,150 . . . . . . . . . • . - , 24

25 Is the amount on line 23 equal to or more than the amount on line 247

B Yes. Skip lines 25 through 27; go to line 28 and check the "No" box.

No. Enter the amount from line 23 25

26 Subtract line 25 from line 24 .. . . . . . . . . . . . . . . . . . . . . . . 26

27 Multiply line 26 by 5% (.05) ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

28 Are the amounts on lines 22 and 26 the same?

q Yes. Skip lines 28 thru 31, go to line 32 q NO. Enter the smaller of line 17 or line 22 28

29 Enter the amount from line 26 (If line 26 is blank, enter -0-) . . . . . . . . . . 1 29

30 Subtract line 29 from line 28 ... . . . . . . . . . . . . . . . . . . . . . . . 30 1

31 Multiply line 30 by 15% (. 15) ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

32 Figure the tax on the amount on line 23 . Use the 2007 Tax Rate Schedule on page 27 of the

instructions ... ... .... ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

33 Add lines 27, 31, and 32 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

34 Figure the tax on the amount on line 17 . Use the 2007 Tax Rate Schedule on page 27 of the

instructions ... . .. . .. ... .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

35 Tax on all taxable income . Enter the smaller of line 33 or line 34 here and on line la of

Schedule G , Form 1041 (or line 36 of Form 990-T) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

JSA7F1220 3 000

27

31

32

33

34

1 351Schedule D (Form 1041) 2007

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51- 1

SCHEDU,IE D-1

(Form 1041)

Department of the TreasuryInternal Revenue Service

Continuation Sheet for Schedule D(Form 1041)

► See instructions for Schedule D (Form 1041).► Attach to Schedule D to list additional transactions for lines la and 6a.

OMB No 1545-0092

2007Name of estate or trust Employer identification number

RAY & PAULINE SULLIVAN FDN 06-6141242Short-Term Capital Gains and Losses - Assets Held One Year or Less

( a) Description of property ( Example100 sh 7% preferred of "Z" Co )

( b) Dateacquired

Imo , da y, y r

( c) Date sold(mo, day , yr)

(d) Sales price(see page 40 of the

instructions)

( e) Cost or other basis(see page 40 of the

instructions)

( f) Gain or (loss)Subtract ( e) from (d)

la 859. SLM CORP COM01 / 04 / 2007 05 / 07 / 2007 46 , 76 .00 42 218.00 4 1 542.00

150. HERSHEY FOODS CORP10 / 20 / 2006 06 / 15 / 2007 7 , 655.00 7 , 692.00 -37.00

138.405 KRAFTA COM

FOODS INC CL02 / 07 / 2007 06 / 15 / 2007 4 , 909.00 4 , 089.00 820.00

200. PENNEY J C INC02 / 07 / 2007 07 / 06 / 2007 14 , 52 .00 17 000.00 -2 , 48-0.00

412.COM

DISCOVER FINL SVCS06 / 29 / 2007 08 / 14 / 2007 9 , 033.00 11 439.00 -2 , 406.00

100. PENNEY J C INC10 / 20 / 2006 08 / 14 / 2007 6 , 36 .00 7 1 46-1.00 -1 , 096.00

541.COM

LYONDELL CHEMICAL CO04 / 05 / 2007 09 / 14 / 2007 24 869.00 16 920.00 7 1 949.00

50.COM

LYONDELL CHEMICAL CO04 / 11 / 2007 09 / 14 / 2007 2 , 29 .00 1 , 56-1.00 737.00

1b. Total. Combine the amounts in column (f). Enter here and on Schedule D, line lb 8,029.00

For Paperwork Reduction Act Notice, see the Instructions for Form 1041 . Schedule D-1 (Form 1041) 2007

JSA7F1221 4 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 51

Schedule D-1 (Form 1041) 2007 Page 2

Name of estate or trust as shown on Form 1041 Do not enter name and employer identification number if shown on the other side Employer identification number

'RAY & PAULINE SULLIVAN FDN 06-6141242Lona-Term CaDital Gains and Losses - Assets Held More Than One Year

( a) Description of property ( Example100 sh 7% preferred of "Z Co 1

( b) Dateacquired

( c) Date sold(mo , day, yr )



(f) Gain or (loss)Subtract ( e) from (d)

( mo, d a y, r ) instru ctions) instructions)

6a 100. COMPUTER SCIENCESCORP 10 / 04 / 2000 02 / 07 / 2007 5 , 473.00 7 056.00 -1 , 583.00700. CONSOLIDATED EDISON

INC 06 / 19 / 2003 02 / 07 / 2007 34 161.00 30 471.00 3 , 690.0050. CONSOLIDATED EDISON

INC 10 / 15 / 2003 02 / 07 / 2007 2 1 440.00 21 016.00 424.00800. CONSOLIDATED EDISON

INC 03 / 18 / 2003 02 / 07 / 2007 39 041.00 31 079.00 7 1 962.00148. AMERICAN INTERNATION

L GROUP INC 01 / 03 / 2001 02 / 09 / 2007 10 157.00 14 195.00 -4 , 038.00150. AMERICAN INTERNATION

L GROUP INC 03 / 08 / 2001 02 / 09 / 2007 10 295.00 12 428.00 -2 ,133.0010. AMERICAN INTERNATIONAL

GROUP INC 09 / 18 / 2001 02 / 09 / 2007 686.00 701.00 -15.00474. BURLINGTON NORTHERN

SANTA FE CORP 11 / 16 / 1994 02 / 09 / 2007 37 543.00 7 674.00 29 869.001013. JANUS CAP GROUP INC

COM 07 / 21 / 2005 02 / 09 / 2007 21 481.00 16 062.00 5 , 419.00120. JANUS CAP GROUP INC

COM 07 / 21 / 2005 02 / 09 / 2007 2 , 545.00 1 , 902.00 643.00384. 3M CO COM

07 / 20 / 1998 02 / 09 / 2007 2-8 , 694-00 16 087.00 12 607.008. UNITED TECHNOLOGIES

CORP 12 / 15 / 1999 02 / 09 / 2007 542.00 232.00 310.0072. ACE LTD SEDOL #2008853

05 / 24 / 2002 02 / 09 / 2007 4 , 213.00 2 , 553.00 1 , 660.00267. ACE LTD SEDOL

#2008853 05 / 23 / 2002 02 / 09 / 2007 15 , 623.00 9 , 103.00 6 , 520.00143. WILLIS GROUP HLDGS

LTD COM 02 / 02 / 2004 02 / 09 / 2007 5 , 749.00 5 , 178.00 571.00392. AIR PRODUCTS AND

CHEMICALS INC 06 / 24 / 2003 02 / 27 / 2007 29 617.00 16 429.00 13 188.00500. COMPUTER SCIENCES

CORP 10 / 04 / 2000 02 / 27 / 2007 26 347.00 35 279.00 -8 932.004. COMPUTER SCIENCES CORP

03 / 09 / 2001 02 / 27 / 2007 211.00 222.00 -11.00146. COMPUTER SCIENCES

CORP 03 / 09 / 2001 02 / 27 / 2007 7 , 693.00 8 , 075.00 -382.00

183. COMPUTER SCIENCESCORP 07 / 30 / 1997 02 / 27 / 2007 9 , 643.00 7 1498.00 2 145.00932. COUNTRYWIDE CREDIT

INDUSTRIES INC 01 / 22 / 1997 02 /27 /2007 35 423.00 6, 98-4-00 28 439.0091. GOLDMAN SACHS GROUP

INC 03 / 31 / 2005 02 / 27 / 2007 18 563.00 10 014.00 8 , 549.00927. PPG INDUSTRIES INC

05 / 17 / 2001 02 / 27 / 2007 61 103.00 54 703.00 6 400.00

6b. Total . Combine the amounts in column (f). Enter here and on Schedule D, line 6bSchedule D-1 (Form 1041) 2007

JSA7F1222 4 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 52

W.m



RAY & PAULINE SULLIVAN FDN 06-6141242Lona-Term CaDital Gains and Losses - Assets Held More Than One Year

(a) Description of property (Example100 sh 7% preferred of "Z" Co )

(b) Datered

Q

( c) Date sold)mo , day, yr )

( d) Sales price

( see page 40 of the( e) Cost or other basis(see page 40 of the

(f) Gain or (loss)Subtract (e) from (d)r )

(mo da instructions) instru ctions)

6a 73. PPG INDUSTRIES INC05 / 18 / 2001 02 / 27 / 2,007 4 812.00 4 , 293.00 519.00

485. UNITED PARCEL SERVICECL B 01 / 25 / 2006 02 / 27 / 2007 34 783.00 37 160.00 -2 , 377.00355. ACE LTD SEDOL

#2008853 05 / 23 / 2002 02 / 27 / 2,007 1-9 , 985.00 12 , 103.00 7 , 882.002172. COUNTRYWIDE CREDITINDUSTRIES INC 01 / 22 / 1997 03/ 13/ 2007 72 982.00 16 276.00 56 706.00308. MERRILL LYNCH & CO

INC 03 / 19 / 2004 03 / 13 / 2007 24 785.00 18 838.00 5 , 947.001. IDEARC INC COM

01 / 25 / 2006 04 / 05 / 2 07 35.00 23.00 12.0022.4 IDEARC INC COM

06 / 13 / 1995 04 / 05 / 2007 794.00 449.00 345.0061. IDEARC INC COM

10 / 17 / 1994 04 / 05 / 2007 2 , 163.00 1 , 1 5.00 1 , 038.0018.3 IDEARC INC COM

01 / 03 / 1995 04 / 05 / 2 07 649.00 335.00 314.006.1 IDEARC INC COM

10 / 25 / 1994 04 / 05 / 2007 216.00 112.00 104.006.1 IDEARC INC COM

11 / 17 / 1994 04 / 05 / 2007 216.00 111.00 105.006.1 IDEARC INC COM

01 / 05 / 1995 04 / 05 / 2007 216.00 111.00 105.001150. MEADWESTVACO CORP

COM 02 / 08 / 2005 04 / 05 / 2007 35 970.00 34 124.00 1 1 846.001818. STAPLES INCORPORATED

05 / 16 / 2001 04 / 05 / 2007 47 788.00 19 642.00 28 146.00426. WAL-MART STORESINCORPORATED 09 / 10 / 2004 04 / 05 / 2007 20 , 5 1.00 22 426.00 -1- , 8-4-5.00566. WASTE MANAGEMENT INC

11 / 03 / 1997 04 05 2007 19 538.00 18 377.00 1 1 161.00797. WELLS FARGO COMPANY

09 / 08 / 1997 04 05 2007 27 405.00 10 659.00 16 746.00.593 KRAFT FOODS INC CL A

COM 02 / 08 / 2005 04 / 20 / 2007 19.00 20.00 -1.00.25 BROADRIDGE FINL

SOLUTIONS INC COM 02 / 08 / 2005 04 / 25 / 2007 5.00 5.00.612 KBR INC COM

02 / 02 / 2004 05 / 01 / 2 07 13.00 6.00 7.00100. BURLINGTON NORTHERN

SANTA FE CORP 11 / 16 / 1994 05 / 07 / 2007 8 , 968.00 1 , 619.00 7 , 349.00100. CIGNA CORPORATION

02 / 11 / 2000 05 / 07 2007 16 162.00 8, 002.00 8 , 160.00300. COMPUTER SCIENCES

1CORP 07 / 30 / 1997 05 / 07 / 2007 16 611.00 12 291.00 4 , 320.00

6b. Total . Combine the amounts in column (f). Enter here and on Schedule D, line 6b .Schedule D-1 (Form 1041) 2007

JSA7F1222 4000

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- 54- 1



`RAY & PAULINE SULLIVAN FDN 06-6141242OWN Lona-Term Caoital Gains and Losses - Assets Held More Than One Year

( a) Description of property ( Example100 sh 7% preferred of "Z" Co )

( b) Dateacquired

(c) Date sold(mo , day, yr )

( d) Sales price( see page 40 of the

(e) Cost or other basis(see page 40 of the


I mo d a y, r ) instructions) instru ctions)

6a 200 . HARRIS CORP DEL08 / 13 / 1997 05 / 07 / 2007 9 , 826.00 3 516.00 6 310.00

200. HARRIS CORP DEL10 / 11 / 2000 05 / 07 / 2007 9 , 826.00 2, 311.00 7 , 515.00

2000. MICROSOFTCORPORATION 06 / 19 / 2003 05 / 07 / 2007 61 274.00 52 610.00 8 , 664.00200. NOKIA CORPORATIONSPONSORED ADR 01 / 17 / 2006 05 / 07 / 2007 5 , 022.00 3 720.00 1 , 302.001000. STAPLES INCORPORATED

05 / 16 / 2001 05 / 07 / 2007 24 920.00 10 804.00 14 116.001118. TEXAS INSTRS INC

07 / 09 / 1998 05 / 07 / 2007 39 281.00 16 720.00 22 561.0010. 3M CO COM

07 / 20 / 1998 05 / 07 / 2007 846.00 419.00 427.00500. TIME WARNER INC NEW

COM 02 / 03 / 2004 05 / 07 / 2007 10 809.00 8 , 593.00 2 , 216.00100. VIACOM INC CL B COM

07 / 14 / 2003 05 / 07 / 2007 4 , 178.00 51 413.00 -1 235.00699. WAL-MART STORESINCORPORATED 09 / 10 / 2004 05 / 07 / 2007 33 977.00 36 , 7-98-0-0- -2- , 821.00500. ACCENTURE LTD COM

03 / 19 / 2004 05 / 07 / 2007 19 , 124 00 12 044.00 7 , 080.0025. VIACOM INC CL B COM

07 / 14 / 2003 05 / 15 / 2007 1 , 070.00 1 , 353.00 -283.00825. VIACOM INC CL B COM

06 27 2002 05 / 15 / 2007 35 326.00 41 003.00 -5 , 677.00222. HERSHEY FOODS CORP

02 / 08 / 2005 06 / 15 / 2007 11 329.00 13 535.00 -2 206.00999.407 KRAFT FOODS INC CL

A COM 02 / 08 / 2005 06 / 15 / 2007 35 , 450.09- 33 , 68 .00 1 , 763.00108.648 KRAFT FOODS INC CL

A COM 01 / 25 / 2006 06 / 15 / 2007 3 , 854.00 21 782.00 1 072.00173.006 KRAFT FOODS INC CL

A COM 02 / 08 / 2005 06 / 15 / 2007 6 , 137.00 3 , 984.00 2 , 153.0078.199 KRAFT FOODS INC CL

A COM 07 / 21 / 2005 06 / 15 / 2007 2 , 774.00 11 779.00 995.00309.335 KRAFT FOODS INC CL

A COM 07 / 21 / 2005 06 / 15 / 2007 10 972.00 7 026.00 3 , 946.00100. COMPUTER SCIENCES

CORP 07 / 30 / 1997 06 / 25 / 2007 5 , 948.00 4 , 097.00 1 , 851.00250. MARATHON OIL CORP CO

11 / 21 / 2003 06 / 25 / 2007 15 695.00 3 ,656.00 12 039.00600. STAPLES INCORPORATED

05 / 16 / 2001 06 25 / 2007 14 460.00 6 483.00 7 , 977.00564. 3M CO COM

07 20 1998 06 / 25 / 2007 49 026.00 23 628.00 25 398.00

6b. Total . Combine the amounts in column (f). Enter here and on Schedule D, line 6b .Schedule D-1 (Form 1041) 2007

JSA7F1222 4 000

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- 55- 1

Schedule D-,1 (Form 1041) 2007 Page 2


'RAY & PAULINE SULLIVAN FDN 06-6141242Lona-Term Capital Gains and Losses - Assets Held More Than One Year

( a) Description of property (Example100 sh 7% preferred of 'Z' Co 1

( b) Dateacquired

( c) Date soldImo, day, yr )




(mo,da y, rl instructions) instructions)

6a 2000. TIME WARNER INC NEWCOM 02 / 03 / 200 4 06 / 25 / 2007 42 959.00 34 370.00 8- , -58-9.00250. ACE LTD SEDOL

#2008853 05 / 23 / 2002 06 /25 /2007 15 657.00 8 , 523.00 7 , 134.00250. ACCENTURE LTD COM

03 / 19 / 2004 06 / 25 / 2007 10 585.00 6 , 022.00 4 , 563.00.315 CITADEL BROADCASTING

CORP COM 05 / 01 / 2002 06 / 29 / 2007 2.00 1.00 1.00104. GOLDMAN SACHS GROUP

INC 03 / 31 / 200 5 06 29 2007 22 655.00 11 445.00 11 210.0092. MERRILL LYNCH & CO INC

03 / 19 / 2004 06 / 29 / 2007 7 , 750.00 5 , 627.00 2 , 123.00350. MERRILL LYNCH & CO

INC 02 / 03 / 200 4 06 / 29 / 2007 29 484.00 20 595.00 8 , 889.00305. MERRILL LYNCH & CO

INC 12 / 08 / 2003 06 / 29 / 2007 25 693.00 17 059.00 8 , 634.00115.225 MERRILL LYNCH & CO

INC 12 / 08 / 2001 06 / 29 / 2007 -9 , 704.00 6 , 444.00 3 , 260.00129.775 MERRILL LYNCH & CO

-

INC 12 / 09 / 2003 06 / 29 / 2007 10 929.00 71 243.00 3 , 686.001150. ARCHSTONE-SMITH TR

11 / 21 / 2003 07 / 06 / 2007 68 263.00 31 077.00 37 186.00

100. BURLINGTON NORTHERNSANTA FE CORP 11 / 16 / 1994 07 / 06 / 2007 8 , 598.00 1 , 61-9.00 6 , 979.00-

12. CIGNA CORPORATION02 / 11 / 2000 07 / 06 / 2007 651.00 320.00 331.00

188. CIGNA CORPORATION09 / 26 / 200 2 07 / 06 / 2007 10 191.00 4 , 653.00 -5 , 53-8-00

400. DISNEY WALT CO05 / 01 / 2002 07 / 06 / 2007 13 780.00 9 , 580.00 4 , 200.00

150. GENERAL DYNAMICS CORP02 / 03 / 200 4 07 / 06 / 2007 11 922.00 61 894.00 5 , 028.00

150. PEPSICO INCORPORATED09 / 28 / 199 4 07 / 06 / 2007 9 922.00 2 , 295.00 7 , 627.00

500. STAPLES INCORPORATED05 / 1 6 2001 07 / 06 / 2007 12 341.00 5 , 40-2.00 6 939.00

700. TIME WARNER INC NEWCOM 02 / 03 / 200 4 07 / 06 / 2007 14 749.00 12 030.00 2 , 719.00200. ACCENTURE LTD COM

03 / 19 / 2004 07 / 06 / 2007 8 , 580.00 4 , 818.00 3 , 762.00

.82 BANK NEW YORK MELLONCORP COM 03 / 19 / 200 4 07 30 2007 35.00 29.00 6.00

.375 TAIWAN SEMICONDUCTORMFG LTD SPONSORED ADR 01 / 17 / 2006 08 / 06 / 2007 4.00 4.0099.75 BROADRIDGE FINL

SOLUTIONS INC COM 02 / 08 / 2005 08 / 14 / 2007 1 , 771.00 1 , 794.00 -23.00

6b. Total . Combine the amounts in column (f). Enter here and on Schedule D, line 6bSchedule D- 1 (Form 1041) 2007

JSA7F1222 4 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 55

- 56- 1



'RAY & PAULINE SULLIVAN FDN 06-6141242PRIN Lona-Term Caoital Gains and Losses - Assets Held More Than One Year

( a) Description of property( Example100 sh 7% preferred of 'T' Co )

( b) Dateacquired

( c) Date sold(mo, day, yr)

( d) Sales price(see page 40 of the



(mo, d a y, r ) instructions) instru ctions)

6a 104.25 BROADRIDGE FINLSOLUTIONS INC COM 07 / 21 / 2005 08 / 14 / 2007 1 , 850.00 1 1 867.00 -17.00189.602 CITADEL

BROADCASTING CORP COM 05 / 01 / 2002 08 / 14 / 2007 865.00 790.00 75.0038.398 CITADEL BROADCASTI

G CORP COM 06 / 27 / 2002 08 / 14 / 2007 175.00 125.00 50.001102. CONOCOPHILLIPS COM

06 / 27 / 2002 08 / 14 / 2007 86 867.00 31 767.00 55 100.00480. CONOCOPHILLIPS COM

06 / 27 / 2002 08 / 14 / 2007 37 837.00 13 733.00 24 104.00696. HONEYWELL INTERNATIO

AL INC 10 / 08 / 1997 08 /14/ 2007 39 643.00 24 833.00 14 810.00639. PENNEY J C INC

01 / 25 / 2006 08 / 14 / 2007 40 672.00 36 155.00 4 , 517.00760. MARATHON OIL CORP CO

11 / 21 / 2003 09 / 07 / 2007 41 145.00 11 115.00 30 030.001082. STAPLES INCORPORATED

05 / 16 / 2001 09 /07/ 2007 24 071.00 11 690.00 12 381.00680. UNITED TECHNOLOGIES

CORP 12 / 15 / 1999 09 / 07 / 2007 50 284.00 19 737.00 30 547.00164. COLGATE PALMOLIVE CO

02 / 08 / 2005 09 / 14 / 2007 11 146.00 9 , 058.00 2 , 088.00267. COMPUTER SCIENCES

CORP 07 / 30 / 1997 09 / 14 / 2007 14 424.00 1-0,93-9.00 3 , 485.00100. COMPUTER SCIENCES

CORP 11 / 03 / 1997 09 / 14 / 2007 5 , 402.00 3 1 582.00 1 , 820.00378. HONEYWELL INTERNATIO

AL INC 10 / 08 / 1997 09 / 14 / 2007 21 235.00 13 487.00 7 , 748.00211. J P MORGAN CHASE & CO

COM 05 / 01 / 1996 09 / 14 / 2007 9 , 583.00 5 , 069.00 4 , 514.00801. KBR INC COM

02 / 02 / 2004 09 / 14 / 2007 29 423.00 7 , 686.00 21 1 73-7.00275. UNITED TECHNOLOGIES

CORP 12 / 15 / 1999 09 /14 /2007 20 866.00 7 , 982.00 12 884.0040. BURLINGTON NORTHERN

SANTA FE CORP 11 / 16 / 1994 09 / 18 / 2007 3 , 291.00 648.00 2 , 643.00300. BURLINGTON NORTHERN

SANTA FE CORP 11 / 23 / 1994 09 / 18 / 2007 24 683.00 4 , 687.00 19 996.0044. GOLDMAN SACHS GROUP

INC 03 / 3 1 2005 09 / 18 / 2007 8 , 706.00 4 , 842.00 3 , 864.00267. HARRIS CORP DEL

10 / 11 / 2000 09 / 18 / 2007 15 580.00 31 086.00 12 494.00400. ACCENTURE LTD COM

03 / 19 / 2004 09 / 18 / 2007 15 422.00 91 635.00 5 787.00

56. ACCENTURE LTD COM07 / 14 / 2003 09 / 18 / 2007 2 , 159.00 1 , 065.00 1 , 094.00

6b. Total . Combine the amounts in column (f). Enter here and on Schedule D, line 6b .Schedule D- 1 (Form 1041) 2007

JSA7F1222 4000

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- 57- 1



'RAY & PAULINE SULLIVAN FDN 06-6141242OMIT Lona-Term Capital Gains and Losses - Assets Held More Than One Year

( a) Description of property ( Example100 sh 7% preferred of Z" Co 1

( b) Dateacquired

(mo,da y, r )

( c) Date sold( mo , day, yr )

( d) Sales price(see page 40 of the

instructions )

( e) Cost or other basis( see page 40 of the

instructions)


6a 443. BANK NEW YORK MELLONCORP COM 03 / 19 / 200 4 09 28 2007 1-9 , 640-00 15 455.00 4 , 185.00589. CISCO SYSTEMSINCORPORATED 04 / 05 / 2005 09 / 28 / 2007 19 496.00 10 554.00 8 , 942.0084. ACE LTD SEDOL #2008853

05 / 23 / 200 2 09 28 2007 5 , 10-3.00 2- , -86-4-.00 2 , 23-9.00579. ACCENTURE LTD COM

07 / 14 / 2003 10 / 03 / 2007 23 145.00 11 011.00 12 134.00212. AMERICAN INTERNATION

L GROUP INC 09 / 18 / 2001 10 / 24 / 2007 13 295.00 14 867.00 -1 , 572.00432. J P MORGAN CHASE & CO

COM 05 / 01 / 1996 10 / 24 / 2007 19 492.00 10 378.00 9 1 114.0040. LINCOLN NATL CORP IND

09 / 12 / 2000 10 / 24 / 2007 2 , 527.00 2 , 203.00 324.00552. TRAVELERS COS INC CO

01 / 25 / 2006 10 / 24 / 2007 27 762.00 24 783.00 2 , 979.0064. WACHOVIA CORP 2ND NEW

01 / 25 / 2006 10 / 24 / 2007 2 , 869.00 3 1 351.00 -482.00658. WACHOVIA CORP 2ND NEW

03 / 31 / 200 5 10 24 2007 29 492.00 33 709.00 -4 1 2-1-7.00564. WELLS FARGO COMPANY

09 / 08 / 1997 10 24 2007 1-8- , 8-76-.00 7 1 5-43.00 1-1 , 33-3.00478. AMERICAN INTERNATION

L GROUP INC 09 / 18 / 200 1 11 07 2007 2-8- , 6--36-.00 33 520.00 -4 , 884.00850. AMERICAN INTERNATION

L GROUP INC 06 / 19 / 2003 11 / 07 / 2007 50 922.00 50 468.00 454.0068. GOLDMAN SACHS GROUP

INC 03 / 31 / 200 5 11 07 2007 1-4 , 73-4-00 7 1 483.00 7 1 2-5-1.0045. GOLDMAN SACHS GROUP

INC 07 / 21 / 2005 11 / 07 / 2007 9 , 750.00 4- 1 -874-00 4. 1 8-76-00141. GOLDMAN SACHS GROUP

INC 07 / 21 / 2005 11 / 07 / 2007 30 551.00 15 260.00 15 291.001833. CISCO SYSTEMS

INCORPORATED 04 / 05 / 2005 11 / 09 / 2007 52 462.00 32 846.00 19 616.001065. ACCENTURE LTD COM

07 / 14 / 200 3 11 09 2007 37 258.00 20 254.00 17 004.00440. MARATHON OIL CORP CO

11 / 21 / 2003 11 / 15 / 2007 23 988.00 6 , 435.00 17 553.001200. AXIS CAP HLDGS LTD

COM 10 / 20 / 200 6 01 17 2008 48 315.00 40 653.00 7 1 662.00

6b. Total . Combine the amounts in column (f). Enter here and on Schedule D, line 6b 902,988.00Schedule D- 1 (Form 1041) 2007

JSA7F1222 4000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 57

E 58- 1


FEDERAL CAPITAL GAIN DIVIDENDS------------------------------------------------------------

LONG-TERM CAPITAL GAIN DIVIDENDS--------------------------------

15% RATE CAPITAL GAIN DIVIDENDS

ARCHSTONE-SMITH TRCOLUMBIA MULTI-ADVISOR INTL EQUITY FUND CLASSRITE AID CORP COMWORLDCOM INC

TOTAL 15% RATE CAPITAL GAIN DIVIDENDS

TOTAL LONG-TERM CAPITAL GAIN DIVIDENDS

06-6141242

580.0044,595.00

64.00147.00

------------

45,387.00------------

45,387.00

STATEMENT 1

X05762000ES9676 L775 05/20/2008 14:38:20 217-099008538300 58

1- 2

ESTIMATED TAX WORKSHEET FOR FORM 990-W

A 2008 Estimated Tax

B. Enter 100 %of Line A . . . . . . . . . . . . . . . . . . . . . . . . . . . . B

C Enter 100 % oftaxon2007 FORM 990-PF ........... C 32,094D Required Annual Payment (Smaller of lines B or C) ,

E Income tax withheld (if applicable) , , , , , , , ,

F Balance (As rounded to the nearest multiple of 4

06-6141242

A

D 32,094.e NONEF 32,096.

Re_rnrrl of Fctimata_rl Taw PavmPntc

Payment number (a) Date ( b) Amount( c) 2007 overpayment

credit applied

( d) Total amount paid and

credited ( add (b) and (cl)

1 06/16/2008 8,024. 8,0242 07/15/2008 8,024. 8,0243 10/15/2008 8,024. 8,0244 01/15/2009 8,024. 8,024

Total 32,096. 32,096

ESTIMATED PAYMENTS MUST BE MADE USING EITHER THE ELECTRONIC FEDERALTAX PAYMENTS SYSTEM (EFTPS) OR IF ALLOWABLE, FEDERAL TAX DEPOSITCOUPONS (FORM 8109). THIS WORKSHEET MERELY PROVIDES THE AMOUNTSWHICH NEED TO BE PAID VIA ONE OF THE ABOVE METHODS.

JSA7E7093 1 000

ES9676 L775 05/20/2008 14:38:20 217-099008538300 2

ACCT L775 099008538300 BANK OF AMERICA, N.A. PAGE 59PREP:217 ADMN:306 INV:798 TAX TRANSACTION DETAIL RUN 05/19/2008

02:44:55 PM

TAX EDITCODE/DATE TRANSACTIONS TAXABLE INCOME PRINCIPAL NUMBER

--------- ------------ ------------ ------------ ------------ ---------

32 OTHER NON-ALLOCABLE EXPENSE - INCOME (CONTINUED)NOKIA CORPORATION SPONSORED ADR - 654902204 - MINOR = 3161 (CONTINUED)

-----------------------------------------------------------------------

0707000164 FOR TRAM TYPE

070400024

149 BENEFICIARY DISTRIBUTIONSSEE ATTACHED SCHEDULE - 11-9879878

07/10/07----------------------------------DIOCESE OF NORWICH -8000.00 -8000.00 070700022SUPPT. THE SPIRITUALITY CONVOCATION BENS DISTRIBUTION WITH NO SSNFOR: 11-9879878 **CHANGED** 05/19/08 GMFTR TRAN#=071910004000 TR CD=555 REG=0 PORT=INC

07/10/07 DIOCESE OF NORWICH -10000.00 -10000.00 070700023SUPPT. THE NEEDS OF RETIRED, SICK BENS DISTRIBUTION WITH NO SSNAND INFIRM PRIESTS **CHANGED** 05/19/08 Gt4FFOR: 11-9879878TR TRAN#=071910005000 TR CD=555 REG=O PORT=INC

07/10/07 DIOCESE OF NORWICH -5000.00 -5000.00 070700024SUPPT. ANNUAL BISHOPS APPEAL BENS DISTRIBUTION WITH NO SSNFOR: 11-9879878 **CHANGED** 05/19/08 GMFTR TRAN#=071910006000 TR CD=555 REG=O PORT=INC

07/10/07 MADONNA PLACE, INC -6000.00 -6000.00 070700025SUPPT. FAMILIES FIRST PROGRAM BENS DISTRIBUTION WITH NO SSNFOR: 11-9879878 **CHANGED** 05/19/08 _-TR TRAN#=071910007000 TR CD=555 REG=O PORT=INC

07/10/07 SAINT JOSEPH CHURCH -1000.00 -1000.00 070700019ANNUAL DONATION FOR THE CHURCH BENS DISTRIBUTION WITH NO SSNFOR: 11-9879878 **CHANGED** 05/19/08 GMFTR TRAN#=071910001000 TR CD=555 RHG=O PORT=INC

07/10/07 ACADEMY OF THE HOLY FAMILY -5244.45 -5244.45 070700020TO UPDATE ENGLISH/LITERATURE TEXTBOOKS BENE DISTRIBUTION WITH NO SSNFOR: 11-9879878 **CHANGED** 05/19/08 GMFTR TRAN#=071910002000 TR CD=555 REG=O PORT=INC

07/10/07 DAUGHTERS OF THE HOLY SPIRIT -5000.00 -5000.00 070700021SUPPORT FOR THE SICK AND INFIRMBD BENE DISTRIBUTION WITH NO SSNFOR: 11-9879878 **CHANGED** 05/19/08 GMFTR TRAN#=071910003000 TR CD=555 REG=O PORT=INC

07/10/07 MARIANOPOLIS PREPARATORY SCHOOL -10000.00 -10000.00 070700026SUPPT. COLLEGE LAB EQUIPMENT BENS DISTRIBUTION WITH NO SSNPROCUREMENT PROGRAM **CHANGED** 05/19/08 GMFFOR: 11-9879878TR TRAN#=071910008000 TR CD=555 REG=0 PORT=INC

ACCT L775 099008538300PREP :217 ADMN:306 INV:798

TAXCOD$/DATE TRANSACTIONS--------- ------------

BANK OF AMERICA, N.A. PAGE 60TAX TRANSACTION DETAIL RUN 05/19/2008

02:44:55 PM

EDITTAXABLE INCOME PRINCIPAL NUMBER

------------ ------------ ------------ ---------

149 BENEFICIARY DISTRIBUTIONS (CONTINUED)SEE ATTACHED SCHEDULE - 11-9879878 (CO

--------------------------------------

NTINUED)

--------

07/10/07 NEW LIFE PRISON MINISTRY C/OSUPPT. FINANCIAL ASSISTANCE TOHELP CURRENT CLIENTSFOR: 11-9879878TR TRAN#=071910009000 TR CD=555 REG=O

07/10/07 PLA,INFIELD CATHOLIC SCHOOLSUPPT. MATCHING FUNDS FROMCL&P TO UPDATE THE PLAINFIELDCAMPUS LIGHTINGFOR: 11-9879878TR TRAN#=071910010000 TR CD=555 REG=O

07/10/07 SACRED HEART SCHOOLPURCHASE OF SCHOOL MANAGEMENTSOFTWAREFOR: 11-9879878TR TRAN#=071910011000 TR CD=555 REG=0

07/10/07 ST. SEBASTIAN SCHOOLSUPPT. PROJECT TO UPDATE ELECTRICALWIRING IN THE SCHOOLFOR: 11-9879878TR TRAN#=071910012000 TR CD=555 REG=O

07/10/07 SAINT VINCENT DEPAUL PLACEPROVIDE GENERAL OPERATING SUPPORTFOR: 11-9879878TR TRAN#=071910013000 TR CD=555 REG=0

07/10/07 ST. BERNARD SCHOOLSUPPT. HEATING EXPENSES FOR 07-08 SCHOOLYEARFOR: 11-9879878TR TRAN#=071910014000 TR CD=555 REG=0

07/10/07 ST. JAMES SCHOOL-CHURCHSUPPT. FOR PURCHASE OF TEXTBOOKSFOR THE SCHOOLFOR: 11-9879878TR TRAN#=071910015000 TR CD=555 REG=0

07/10/07 SAINT MARY OF OUR LADY OFPURCHASE OF TEXTBOOKS FOR THE SCIENCEAND SOCIAL STUDIES CLASSESFOR: 11-9879878TR TRAN#=071910016000 TR CD=555 REG=0

07/10/07 ST. MARY SCHOOLSUPPT. SALARY OF A SPANISH TEACHER ANDFOR THE MULTICULTURAL PROGRAMFOR: 11-9879878TR TRAN#=071910017000 TR CD=555 REG=O

07/10/07 SAINT MICHAEL CHURCH-SCHOOLANNUAL DONATION TO SUPPORTRAY SULLIVAN'S HOME PARISHFOR: 11-9879878TR TRAN#=071910018000 TR CD=555 REG=O

07/10/07 ST. JOHN SCHOOLSUPPT. TUITION ASSISTANCE FOR 2 STUDENTSFOR: 11-9879878TR TRAN#=071910021000 TR CD=555 REG=0

07/10/07 ST. EDWARDS SCHOOLSUPPOT. PURCHASE OF NEW SOCIAL STUDIESMATERIALS FOR 7TH & 8TH GRADERS

FOR: 11-9879878TR TRAN#=071910019000 TR CD=555 REG=O

07/10/07 ST. JOSEPH SCHOOLPROVIDE TUITION SUPPORTFOR: 11-9879878TR TRAN#=071910022000 TR CD=555 REG=0

07/10/07 SACRED HEART SCHOOLSUPPT. RISEN SPECIAL NEEDS PROGRAMFOR: 11-9879878TR TRAN#=071910023000 TR CD=555 REG=O

07/10/07 SACRED HEART SCHOOLPROVIDE FINANCIAL ASSISTANCE TO NEEDYFAMILIESFOR: 11-9879878TR TRAN#=071910024000 TR CD=555 REG=0

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

-3000.00 -3000.00 070700027BENS DISTRIBUTION WITH NO SSN

**CHANGED** 05/19/08 GI4F


**CHANGED** 05/19/08 GMF



-9000.00 -9000.00 070700030BENE DISTRIBUTION WITH NO SSN

**CHANGED** 05/19/08 GNF




**CHANGED** 05/19/08 G F



-7421.70 -7421. 70 070700034BENS DISTRIBUTION WITH NO SSN

**CHANGED* * 05/19 /08 GMF

-7000.00 -7000.00 070700035BEHR DISTRIBUTION WITH NO SSN

**CHANGED** 05/19/08 G F






**CHANGED** 05/19/08 Gtr







ACCT L775 099008538300PREP :217 ADMN: 306 INV:798

TAXCObE/DATE TRANSACTIONS--------- ------------


02:44:55 PM


------------ ------------ ------------ ---------

149 BENEFICIARY DISTRIBUTIONS (CONTINUED)SEE ATTACHED SCHEDULE - 11-9879878

-----------------------------------

(CONTINUED)

-----------

07/10/07 ST. PATRICK CATHEDRAL SCHOOL -2500.00 -2500.00 070700043SUPPT. THE RENOVATION TO THE BENS DISTRIBUTION WITH NO SSNLAVATORIES IN THE SCHOOL **CHANGED** 05/19/08 GFOR: 11-9879878TR TRAN#=071910025000 TR CD=555 RBG=O PORT=INC

07/10/07 ST. JOHN SCHOOL -10000.00 -10000.00 070700044TUITION ASSISTANCE FOR STUDENTS BENE DISTRIBUTION WITH NO SSNIN NEED **CHANGED** 05/19/08 GMFFOR: 11-9879878TR TRAN#=071910026000 TR CD=555 RBG=O PORT=INC

07/10/07 ST. MARY -ST. JOSEPH SCHOOL -10000.00 -10000.00 070700038REPLACE SHADES FOR WINDOWS, A NEW CLOCK BENS DISTRIBUTION WITH NO SSNBELL, INTERCOM SYSTEM, FIRE ALARM & **CHANGED** 05/19/08 GMFTELEPHONE SYSTEMFOR: 11-9879878TR TRAN#=071910020000 TR CD=555 REG=O PORT=INC

07/10/07 ST. VINCENT DEPAUL PLACE -5000.00 -5000.00 070700046PROVIDE GENERAL OPERATING SUPPORT BEHE DISTRIBUTION WITH NO SSNFOR: 11-9879878 **CHANGED** 05/19/08 GMFTR TRAN#=071910028000 TR CD=555 REG=O PORT=INC

07/10/07 CONGREGATION OF HOLY CROSS -30000.00 -30000.00 070700047SUPPT. BROTHER R. VOZZO'S PASTORAL BENS DISTRIBUTION WITH NO SSNMINISTRY AT LAWRENCE & MEMORIAL **CHANGED** 05/19/08 GMFHOSPITALFOR: 11-9879878TR TRAN#=071910029000 TR CD=555 REG=0 PORT=INC

07/10/07 DIOCESE OF NORWICH -11000.00 -11000.00 070700048SUPPT. COST OF THE DAILY TV MASS BENE DISTRIBUTION WITH NO SSNFOR: 11-9879878 **CHANGED** 05/19/08 GMFTR TRAN#=071910030000 TR CD=555 REG=O PORT=INC

07/10/07 THE HAITIAN HEALTH FOUNDATION -35000.00 -35000.00 070700049SUPPT. SALAIRES FOR 3 FULL TIME BENS DISTRIBUTION WITH NO SSNEMPLOYERS **CHANGED** 05/19/08 GMFFOR: 11-9879878TR TRAN#=071910031000 TR CD=555 RBG=O PORT=INC

07/10/07 ST. BERNARD HIGH SCHOOL/ACADEMY -150000.00 -150000.00 070700050OPERATIONAL SUPPORT $100,000 & BEHE DISTRIBUTION WITH NO SSNSCHOLARSHIPS S50,000 **CHANGED** 05/19/08 (FOR: 11-9879878TR TRAN#=071910032000 TR CD=555 RBG=O PORT-INC

07/10/07 ST. MARY OF CZESTOCHOWA -5000.00 -5000.00 070700045SUPPT. PART-TIME ALGEBRA TEACHER BENS DISTRIBUTION WITH NO SSNPOSITION **CHANGED** 05/19/08 GMFFOR: 11-9879878TR TRAN#=071910027000 TR CD=555 REG=O PORT=INC

07/10/07 SAINT MARY STAR OF THE SEA -14000.00 -14000.00 070700052SUPPT. SALARY & BENEFITS OF A PARA- BENS DISTRIBUTION WITH NO SSNPROFESSIONAL **CHANGED** 05/19/08 GMFFOR: 11-9879878TR TRAN#=071910034000 TR CD=555 REG=0 PORT=INC

07/10/07 MERCY HIGH SCHOOL -25000.00 -25000.00 070700053SUPPT. TUITION ASSISTANCE TO DESERVING BENS DISTRIBUTION WITH NO SSNSTUDENTS **CHANGED** 05/19/08 GMFFOR: 11-9879878TR TRAN#=071910035000 TR CD=555 REG=O PORT=INC

07/10/07 ST. JOSEPH SCHOOL -50000.00 -50000.00 070700055PURCHASE OF EQUIPMENT FOR THE BENS DISTRIBUTION WITH NO SSNTECHNOLOGY LAB **CHANGED** 05/19/08 GMFFOR: 11-9879878TR TRAN#=071910037000 TR CD=555 REG=O PORT=INC

07/10/07 XAVIER HIGH SCHOOL -25000.00 -25000.00 070700056PROVIDE FINANCIAL ASSISTANCE FOR BEHE DISTRIBUTION WITH NO SSNFAMILIES IN NEED **CHANGED** 05/19/08 GMFFOR: 11-9879878TR TRAN#=071910038000 TR CD=555 REG=0 PORT=INC

07/10/07 ST. JOSEPH SCHOOL -15000.00 -15000.00 070700051SUPPT A PART-TIME FOREGIN LANGUAGE BEHE DISTRIBUTION WITH NO SSNTEACHER & FINANCIAL AID TO FAMILIES **CHANGED** 05/19/08 G FFOR: 11-9879878TR TRAN#=071910033000 TR CD=555 REG=0 PORT=INC

ACCT L775 099008538300PREP :217 ADMN: 306 INV:798

TAXCObE/DATE TRANSACTIONS

--------- ------------


02:44:55 PM


------------ ------------ ------------ ---------

149 BENEFICIARY DISTRIBUTIONS (CONTINUED)SEE ATTACHED SCHEDULE - 11-9879878 (CONTINUED)

----------------------------------------------

07/17/07 ST. JOSEPH SCHOOLSUPPT. PURCHASE OF EQUIPMENT FOR THETECHNOLOGY LABFOR: 11-9879878TR TRAN#=071980002000 TR CD=555 REG=O

07/23/07 PROVIDENCE COLLEGE'07 AWARD F/BRENDAN BUTLER/ID#000629919FOR: 11-9879878TR TRAN#=072040001000 TR CD=555 REG=O

07/23/07 SACRED HEART UNIVERSITY2007 AWARD F/DEVON BUTLER/ID#000197368FOR: 11-9879878TR TRAN#=072040002000 TR CD=555 REG=O

07/23/07 EASTERN CT STATE UNIVERSITY'07 AWARD FOR KAITLIN BUTLER/ID#10153501FOR: 11-9879878TR TRAN#=072040003000 TR CD=555 REG=O

07/23/07 UNIVERSITY OF CONNECTICUT2007 AWARD F/JOHN S CARTA/ID#1523045FOR: 11-9879878TR TRAN#=072040004000 TR CD=555 REG=O

07/23/07 UNIVERSTIY OF CONNECTICUT'07 AWARD F/ STEPHEN M CASTALDI/#0549533FOR: 11-9879878TR TRAN#=072040005000 TR CD=555 REG=O

07/23/07 UNIVERSITY OF CONNECTICUT'07 LOAN AWARD F/GEOFFREY SMITH/#1602834FOR: 11-9879878TR TRAN#=072040006000 TR CD=555 REG=O

07/23/07 UNIVERSITY OF CONNECTICUT2007 AWARD FOR DAVID MCINTYRE/#0548226FOR: 11-9879878TR TRAN#=072040007000 TR CD=555 REG=0

07/23/07 PLYMOUTH STATE UNIVERSITY2007 LOAN AWARD FOR HOPE BRIGHAMFOR: 11-9879878TR TRAN#=072040008000 TR CD=555 RBG=O

07/25/07 ST. JOSEPH'S UNIVERSITY2007 AWARD FOR DAVID CRUZ/ID#X01671438FOR: 11-9879878TR TRAN#=072060001000 TR CD=555 REG=O

07/25/07 SOUTHERN NEW HAMPSHIRE UNIV2007 AWARD FOR KATHRYN CLARK/#0533199FOR: 11-9879878TR TRAN#=072060003000 TR CD=555 REG=O

07/25/07 SPRINGFIELD COLLEGE2007 AWARD FOR RICHARD KRUGFOR: 11-9879878TR TRAN#=072060004000 TR CD=555 REG=O

07/25/07 SAINT ANSELM COLLEGE2007 AWARD FOR KEVIN R BDRKE/#524419FOR: 11-9879878TR TRAN#=072060005000 TR CD=555 REG=O

07/25/07 BECKER COLLEGE2007 AWARD FOR KELLY HATFIELD/#0050287FOR: 11-9879878TR TRAN#=072060002000 TR CD=555 REG=O

07/27/07 UNIVERSITY OF NOTRE DAME2007 AWARD FOR CHRISTOPHER G. MASSADFOR: 11-9879878TR TRAN#=072080001000 TR CD=555 REG=O

08/06/07 SACRED HEART UNIVERSITY'07 SCH AWARD FOR/IAN E HIGGINS/#0610277FOR: 11-9879878TR TRAN#=072180001000 TR CD=555 REG=O

08/06/07 COLLEGE OF THE HOLY CORS2007 SCH AWARD F/EMILY NASSETTA/#0298903FOR: 11-9879878TR TRAN#=072180002000 TR CD=555 REG=O

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT=INC

PORT'INC

PORT=INC

PORT=INC









-2500.00 -2500.00 070700088BEER DISTRIBUTION WITH NO SSN











**CHMGED** 05/19/08 GMF









-2500.00 -2500.00 070700099BEER DISTRIBUTION WITH NO SSN






ACCT L775 099008538300 BANK OF AMERICA, N.A.PREP : 217 ADMN : 306 INV:798 TAX TRANSACTION DETAIL

TAXCODE/DATE TRANSACTIONS

--------- ------------

149 BENEFICIARY DISTRIBUTIONS ( CONTINUED)SEE ATTACHED SCHEDULE - 11-9879878 (CONTINUED)

----------------------------------------------

08/06 / 07 UNIVERSITY OF CONNECTICUT07 SCH LOAN F/JOSEPH THIBEAULT/#1466508FOR: 11 - 9879878TR TRAN#= 072180003000 TR CD=555 RHG= O PORT=INC

08/06 / 07 EASTERN CT STATE UNIVERSITY2007 SCH LOAN FOR COURTNEY GREENFOR: 11 - 9879878TR TRAN#= 072180004000 TR CD=555 REG= 0 PORT=INC

08/06 /07 FAIRFIELD UNIVERSITY1 07 SCH LOAN F/MATTHEW MAJEWSKI / 09977119FOR: 11 - 9879878TR TRAN#=072180005000 TR CD=555 RSG=O PORT=INC

08/13/07 UNIVERSITY OF VERENOT2007 SCH AWARD FOR GILLIAN T. RISSLERFOR: 11 - 9879878TR TRAN#=072250001000 TR CD=555 RBG= O PORT=INC

08/15 /07 THE GEORGE WASHINGTON UNIV.07 SCH GRANT F/ JILLIAN MADOR/#G36745314FOR: 11 - 9879878TR TRAN#= 072270001000 TR CD= 555 REG= O PORT=INC

08/16 /07 UNIVERSITY OF HARTFORD107 SCH LOAN FOR KATHRYN CARTA/#15124510FOR: 11 - 9879878TR TRAN#= 072280001000 TR CD= 555 REG= O PORT=INC

08/21 /07 ST . JOSEPH SCHOOLSUPPORT TUITION ASSISTANCE TO CHILDRENIN NEEDFOR: 11 - 9879878TR TRAN#= 072330001000 TR CD- 555 RBG= 0 PORT=INC

08/27/07 DUKE UNIVERSITY07 SCA LOAN F/ FRANK LOWERY III/#1233925FOR: 11 - 9879878TR TRAN#= 072390001000 TR CD=555 REG=0 PORT=INC

09/04 / 07 DANIEL WEBSTER COLLEGE2007 AWARD FOR LORENZO GRILLOFOR: 11 - 9879878TR TRAN#= 072470002000 TR CD= 555 RSG= O PORT=INC

09/04 / 07 PROVIDENCE COLLEGE2007 AWARD FOR TJ DYER/ ID#000566288FOR: 11 - 9879878TR TRAN#= 072470001000 TR CD= 555 RHG= O PORT=INC

10/23 /07 DIOCESE OF NORWICHSUPPT . SALARY OF TECHNOLOGY COORDINATORBARBARA JOHNSONFOR: 11 - 9879878TR TRAN#= 072960001000 TR CD=555 REG= O PORT-INC

12/04 / 07 DIOCESE OF NORWICHPURCHASE OF NUMONICS INTERACTIVE WHITE-BOARDS /ACCESSORIES AND RM EASITECHSOFTWAREFOR: 11 - 9879878TR TRAN#=073380001000 TR CD=555 REG=0 PORT-INC

TOTAL CODE 149 - BENEFICIARY DISTRIBUTIONS

INC

PAGE 63RUN 05/19/2008

02:44:55 PM


------------ ------------ ------------ ---------


**CHANGED** 05/19/08 GNP

-2500.00 -2500.00 070800013BETTS DISTRIBUTION WITH NO SSN

**CHANGED** 05/19/08 GI4F


**CHANGED** 05/19/08 Gtr



-4000.00 -4000.00 070800024BERM DISTRIBUTION WITH NO SSN


-2500.00 -2500.00 070800029BANE DISTRIBUTION WITH NO SSN



**CHANGED** 05/19/08 GF


**CHANGED** 05/19/08 G[4F






**CHANGED** 05/19/08 GNP


**CHANGED** 05/19/08 G F

------------ ------------ -------------678799.07 -678799.07 0.00

42099008538300

ACCOUNT

A S S E T S U M M A R Y

AS OF 01/31/08

PAGE 242-09-900-8538300 RAY & PAULINE SULLIVAN FDN

----------------------------------------------------- ----------------------------------------FEDEP.AL

------------------

MARKET

-----------------

% OF

--------------------

CURRENT

----------

EST AND

-----------------------------------------------------

TAX COST

----------------------------------------

VALUE

------------------

ACCOUNT

-----------------

YIELD

--------------------

INCO!

----------

CASH AND CASH EQUIVALENTS

INCOME CASH 0.00 0 00PRINCIPAL CASH 0.00 0.00

MONEY MARKET FUNDS 697,191.36

----------697,191.36 4.779 4.309 30,OL

TOTAL CASH AND CASH EQUIVALENTS 697,191.36----------697,191.36

-----4.779

-----

4.309 30,01

FIXED INCOME

COLLECTIVE FUNDS-FIXED 4,731,546.66 4,721,542.18 32.365 5.081 239,8,

EQUITIESCONSUMER DISCRETIONARY 485,257.46 521,919.87 3.578 2.244 11,7]CONSUMER STAPLES 847,848.07 1,015,356.63 6.960 2.769 28,1]ENERGY 224,418.10 560,385.24 3.841 2.178 12,2(FINANCIALS 1,285,666.24 1,340,394.07 9.188 2.700 36,15HEALTH CARE 676,981.05 764,145.15 5.238 3.400 25,9,INDUSTRIALS 536,487.35 643,728.30 4.413 2.518 16,2(INFORMATION TECHNOLOGY 432,909.58 744,563.64 5.104 1.508 11,2-,MATERIALS 152,619.26 182,904.48 1.254 3.000 5,4£TELECOMMUNICATION SERVICES 267,922.47 364,618.58 2.499 4.281 15,6(UTILITIES 442,649.84 460,396.03 3.156 3.136 14,4:COLLECTIVE FUNDS-EQUITY 1,330,768.50 1,152,906.00 7.903 .711 8,1sMUTUAL FUNDS-EQUITY 400,000.00 481,203.01 3.299 1.206 5,8(OTHER EQUITIES 621,922.08

------------937,260.36

------------6.425

------2.314-----

21,6E------

TOTAL EQUITIES 7,705,450.00 9,169,781.36 62.856 2.321 212,8E

ACCOUNT TOTAL-------------13,134,188.02

-------------14,588,514.90

-------100.000

-----3.309

------482,7,

42099008538300

A S S E T D E T A I L

AS OF 01/31/08

ACCOUNT PAGE 342-09-900-8538300 RAY & PAULINE SULLIVAN FDN

--------------------------------------------------UNITS ASSET

------------------ORIGINAL

------------------------FEDERAL

------------------MARKET

-----------------% OF

-------------------CURRENT

------------EST ANNUF

DESCRIPTION

--------------------------------------------------

COST

------------------

TAX COST------------------------

VALUE------------------

ACCOUNT

-----------------YIELD

-------------------INCOME

------------


MONEY MARKET FUNDS

216,067.490 FIDELITY INSTITUTIONAL MONEY 216,067.49 216,067.49 216,067.49 1.481 4.309 9,310._MARKET #59

(INCOME INVESTMENT)CUSIP NO: 316175207

481,123.870 FIDELITY INSTITUTIONAL MONEY 481,123.87 481,123.87 481,123.87 3.298 4.309 20,731.E

MARKET #59CUSIP NO: 316175207

- ---------- ---------- ----- ----- --------TOTAL MONEY MARKET FUNDS

---- -----697,191.36

--- -697,191.36----------

697,191.36----------

4.779

-----4.309-----

30,041.5--------

TOTAL CASH AND CASH EQUIVALENTS--- ---697,191.36 697,191.36 697,191.36 4.779 4.309 30,041.5

FIXED INCOME

COLLECTIVE FUNDS-FIXED

96,259.347 INTERN GOVT/CREDIT BOND CTF 1,180,003.21 1,168,927.19 1,162,726.28 7.970 4.901 56,985.ECUSIP NO: 1261291M7

112,955.111 AGGREGATE BOND CTF 1,656,319.58 1,789,267.17 1,778,399.15 12.190 5.170 91,945.L

CUSIP NO: 202671913

239,338.713 GOVERNMENT CREDIT CTF 1,701,061.75 1,773,352.30 1,780,416.75 12.204 5.108 90,948.,

CUSIP NO: 993361880---- -- ------------ ------ ----- ---------

TOTAL COLLECTIVE FUNDS-FIXED

------------

4,537,384.54

----- -

4,731,546.66 4,721,542.18 32.364 5.081 239,879.,

TOTAL FIXED INCOME 4,537,384.54 4,731,546.66 4,721,542.18 32.364 5.081 239,879.,

EQUITIES

42099008538300


AS OF 01/31/08

ACCOUNT PAGE 4

42-09-900-8538300 RAY & PAULINE SULLIVAN FDN

-----------------------------------------------

UNITS ASSET

---------------------

ORIGINAL

-------------------------

FEDERAL

----------------

MARKET

-----------------

% OF

-------------------

CURRENT

-------------

EST ANNUF

DESCRIPTION-----------------------------------------------

COST---------------------

TAX COST-------------------------

VALUE

----------------ACCOUNT-----------------

YIELD

-------------------

INCOME

-------------

CONSUMER DISCRETIONARY

1,350.000 CBS CORP 43,276.36 43,276.36 34,020.00 0.233 3.968 1,350.(NEW CL B COM

CUSIP NO: 124857202

2,573.000 DISNEY WALT CO 59,766.82 59,000.34 76,778.32 0.526 1.173 900.ECOM DISNEY

CUSIP NO: 254687106

1,406.000 HOME DEPOT INC 53,844.18 53,844.18 43,079.84 0.295 2.937 1,265.4CUSIP NO: 437076102

1,551.000 MACYS INC 70,048.86 70,048.86 42,838.62 0.294 1.883 806.`CUSIP NO: 55616P104

2,929.000 MCDONALDS CORP 109,579.89 109,579.89 156,935.82 1.076 2.800 4,393.0CUSIP NO: 580135101

624.000 MCGRAW HILL COS INC 42,712.24 42,712.24 26,682.24 0.183 2.058 549.1CUSIP NO: 580645109

1,115.000 SHERWIN WILLIAMS CO 30,982.17 28,907.49 63,666.50 0.436 2.207 1,404.5CUSIP NO: 824348106

1,373.000 TJX COS INC NEW 40,485.24 40,485.24 43,400.53 0.297 1.139 494.ECUSIP NO: 872540109

2,200.000 TIME WARNER INC 33,642.35 37,402.86 34,518.00 0.237 1.593 550.(NEW COMCUSIP NO: 887317105

---------- ---------- ---------- ----- ----- --------TOTAL CONSUMER DISCRETIONARY 488,338.11 485,257.46 521,919.87 3.577 2.244 11,714.

CONSUMER STAPLES

1,214.000 ALTRIA GROUP INC 65,961.72 65,961.72 92,009.06 0.631 3.958 3,642.(CUSIP NO: 02209S103

42099008538300


AS OF 01/31/08


------------------

UNITS

-----------------------------

ASSET

---------------------

ORIGINAL

--------------------------

FEDERAL

---------------

MARKET

-----------------

% OF

--------------------

CURRENT

------------

EST ANNUL

------------------

DESCRIPTION-----------------------------

COST---------------------

TAX COST--------------------------

VALUE---------------

ACCOUNT-----------------

YIELD--------------------

INCOME------------

1,539.000 ANHEUSER BUSCH COS INC 74,858.51 74,858.51 71,563.50 0.491 2.839 2,031.4CUSIP NO: 035229103

1,095.000 AVON PRODS INC 37,230.35 37,230.35 38,248.35 0.262 2.119 810._CUSIP NO: 054303102

840.000 COCA COLA CO 39,396.82 39,396.82 49,560.00 0.340 2.305 1,142.4CUSIP NO: 191216100

1,199.000 COLGATE PALMOLIVE CO 65,891.55 65,845.96 91,723.50 0.629 1.882 1,726.`-CUSIP NO: 194162103

2,800.000 CONAGRA FOODS INC 69,897.82 69,897.82 60,144.00 0.412 3.538 2,128.(CUSIP NO: 205887102

1,404.000 DIAGEO PLC 85,149.72 85,149.72 113,401.08 0.777 3.250 3,685._`SPONSORED ADR NEW

UNITED KINGDOM

CUSIP NO: 25243Q205

847.000 GENERAL MLS INC 48,633.19 48,633.19 46,178.44 0.317 2.861 1,321._CUSIP NO: 370334104

1,241.000 HEINZ H J CO 58,406.36 58,406.36 52,841.78 0.362 3.570 1,886._CUSIP NO: 423074103

1,023.000 KIMBERLY CLARK CORP 45,882.79 45,767.84 67,139.49 0.460 3.230 2,168.,CUSIP NO: 494368103

842.000 PEPSICO INC 18,467.33 12,884.76 57,298.10 0.393 2.204 1,263.(CUSIP NO: 713448108

2,436.000 PROCTER & GAMBLE CO 130,077.67 130,076.98 159,363.12 1.092 2.140 3,410.2CUSIP NO: 742718109

385.000 REYNOLDS AMERN INC 24,315.02 24,315.02 24,351.25 0.167 5.375 1,309.(CUSIP NO: 761713106

42099008538300

ACCOUNT


AS OF 01/31/08

PAGE 6


-----------------

UNITS

--------------------------------

ASSET

-------------------

ORIGINAL

-------------------------

FEDERAL

-----------------

MARKET

-----------------

% OF

-------------------

CURRENT

------------

EST ANNUF

-----------------

DESCRIPTION

--------------------------------

COST

-------------------

TAX COST

-------------------------

VALUE

-----------------

ACCOUNT

-----------------

YIELD

-------------------

INCOME

------------

1,804.000 WAL-MART STORES INC 89,423.02 89,423.02 91,534.96 0.627 1.734 1,587.`

CUSIP NO: 931142103---------- ------------ ----- ----- --------

TOTAL CONSUMER STAPLES----------853,591.87 847,848.07 1,015,356.63 6.960 2.769 28,112.E

ENERGY

1,477.000 BP P L C 46,597.72 29,356.26 94,454.15 0.647 3.969 3,748.E

SPONSORED ADR

UNITED KINGDOM

CUSIP NO: 055622104

1,136.000 CHEVRON CORP 66,488.15 66,488.15 94,572.00 0.648 2.787 2,635.`E

CUSIP NO: 166764100

3,491.000 EXXON MOBIL CORP 98,893.60 76,164.54 301,622.40 2.068 1.620 4,887.L

CUSIP NO: 30231G102

737.000 HALLIBURTON CO 11,248.39 11,248.39 24,446.29 0.168 1.085 265._

CUSIP NO: 406216101

668.000 OCCIDENTAL PETE CORP DEL 41,160.76 41,160.76 45,290.40 0.310 1.475 668.(

CUSIP NO: 674599105---------- ---------- ----- ----- --------

TOTAL ENERGY----------264,388.62 224,418.10 560,385.24 3.841 2.178 12,204.E

FINANCIALS

1,122.000 ACE LTD 38,302.73 38,251.33 65,345.28 0.448 1.820 1,189.=

CAYMANCUSIP NO: G0070K103

2,095.000 WILLIS GROUP HLDGS LTD 70,394.40 70,021.33 73,325.00 0.503 2.857 2,095.(

BERMUDA

CUSIP NO: G96655108

1,726.000 BANK NEW YORK MELLON CORP 57,526.13 56,100.38 80,293.52 0.550 2.064 1,656.E

CUSIP NO: 064058100

42099008538300


AS OF 01/31/08


-----------------

UNITS

---------------------------------

ASSET

------------------

ORIGINAL

--------------------------

FEDERAL

---------------

MARKET

-----------------

% OF

--------------------

CURRENT

------------

EST ANNUF

-----------------

DESCRIPTION

---------------------------------

COST

------------------

TAX COST

--------------------------

VALUE

---------------

ACCOUNT

-----------------

YIELD

--------------------

INCOME

------------

3,400.000 CITIGROUP INC 169,289.12 169,289.12 95,778.00 0.657 4.544 4,352.(CUSIP NO: 172967101

1,215.000 DISCOVER FINL SVCS 21,011.72 21,011.72 21,250.35 0.146 1.372 291.ECUSIP NO: 254709108 -

1,438.000 FEDERAL HOME LN MTG CORP 82,997.07 82,997.07 43,700.82 0.300 3.291 1,438.(CUSIP NO: 313400301

2,245.000 FEDERATED INVS INC PA 82,348.42 82,348.42 95,120.65 0.652 1.983 1,885.ECL B

CUSIP NO: 314211103

1,143.000 HARTFORD FINL SVCS GROUP INC 101,892.95 101,892.95 92,011.50 0.631 2.634 2,423.1CUSIP NO: 416515104

2,741.000 J P MORGAN CHASE & CO 76,141.52 56,743.32 129,923.40 0.891 3.207 4,166.:CUSIP NO: 46625H100

2,360.000 LINCOLN NATL CORP IND 121,404.89 121,157.78 127,888.40 0.877 3.063 3,917.ECUSIP NO: 534187109

1,210.000 METLIFE INC 74,723.43 74,723.43 71,244.80 0.488 1.257 895.4CUSIP NO: 59156R108

824.000 MORGAN STANLEY 57,921.53 57,921.53 40,656.16 0.279 2.189 889 . SCUSIP NO: 617446448

587.000 PNC FINL SVCS GROUP INC 40,228.99 40,228.99 38,507.20 0.264 3.841 1,479.CUSIP NO: 693475105

1,395.000 PRINCIPAL FINL GROUP INC 83,333.76 83,333.76 83,155.95 0.570 1.510 1,255.ECUSIP NO: 74251V102

314.000 STATE STR CORP 21,493.90 21,493.90 25,785.68 0.177 1.120 288.ECUSIP NO: 857477103

42099008538300


AS OF 01/31/08


------------------UNITS

-----------------------------ASSET

--------------------ORIGINAL

-------------------------FEDERAL

-----------------MARKET

------------------% OF

-------------------CURRENT

------------EST ANNUI

------------------

DESCRIPTION-----------------------------

COST--------------------

TAX COST-------------------------

VALUE-----------------

ACCOUNT------------------

YIELD-------------------

INCOME------------

661.000 TRAVELERS COS INC 29,676.79 29,676.79 31,794.10 0.218 2.412 766.:CUSIP NO: 89417E109

2,200.000 US BANCORP DEL 74,734.90 74,734.90 74,690.00 0.512 5.007 3,740.(COM NEWCUSIP NO: 902973304

3,809.000 UNUM GROUP 78,717.76 78,717.76 86,159.58 0.591 1.326 1,142.,CUSIP NO: 91529Y106

1,871.000 WELLS FARGO & CO NEW 25,021.76 25,021.76 63,763.68 0.437 3.638 2,320.(CUSIP NO: 949746101

TOTAL FINANCIALS------------1,307,161.77

------------1,285,666.24

------------1,340,394.07

-----9.191

-----2.700

--------36,194.E

HEALTH CARE

1,586.000 ABBOTT LABS 78,928.47 78,928.47 89,101.48 0.611 2.314 2,061.ECUSIP NO: 002824100

1,012.000 CIGNA CORP 26,369.65 25,047.00 49,780.28 0.341 0.081 40.1CUSIP NO: 125509109

1,222.000 GLAXOSMITHKLINE PLC 61,726.13 61,726.13 57,898.36 0.397 4.348 2,517._SPONSORED ADRUNITED KINGDOM

CUSIP NO: 37733W105

2,000.000 JOHNSON & JOHNSON 66,650.00 65,494.06 126,280.00 0.866 2.629 3,320.(CUSIP NO: 478160104

2,400.000 MERCK & CO INC 101,786.68 94,667.88 110,640.00 0.758 3.297 3,648.(CUSIP NO: 589331107

1,218.000 NOVARTIS A G 61,167.15 61,167.15 61,862.22 0.424 2.457 1,520.(SPONSORED ADRSWITZERLANDCUSIP NO: 66987V109

42099008538300


AS OF 01/31/08


-----------------UNITS

----------------------------------ASSET

-----------------ORIGINAL

--------------------------FEDERAL

---------------MARKET

------------------% OF

-------------------CURRENT

------------EST ANNUL

-----------------

DESCRIPTION

----------------------------------

COST

-----------------

TAX COST

--------------------------

VALUE

---------------

ACCOUNT

------------------

YIELD

-------------------

INCOME

------------

8,524.000 PFIZER INC 230,074.32 220,464.91 199,120.64 1.365 5.479 10,910.,CUSIP NO: 717081103

1,751.000 WYETH 77,967.66 69,485.45 69,462.17 0.476 2.823 1,961.]CUSIP NO: 983024100

---------- ---------- ---------- ----- ----- --------TOTAL HEALTH CARE 704,670.06 676,981.05 764,145.15 5.238 3.400 25,979.E

INDUSTRIALS

211.000 BOEING CO 20,070.07 20,070.07 17,550.98 0.120 1.924 337.E

CUSIP NO: 097023105

616.000 DEERE & CO 33,310.22 33,310.22 53,936.96 0.370 1.142 616.(CUSIP NO: 244199105

650.000 GENERAL DYNAMICS CORP 29,873.84 29,873.84 54,944.50 0.377 1.372 754.(

CUSIP NO: 369550108

7,271.000 GENERAL ELEC CO 307,970.74 307,970.74 257,102.56 1.762 3.507 9,016.(CUSIP NO: 369604103

726.000 HONEYWELL INTL INC 25,897.87 24,076.16 42,884.82 0.294 1.693 726.(

CUSIP NO: 438516106

1,887.000 UNITED TECHNOLOGIES CORP 54,202.55 52,575.14 138,260.49 0.948 1.747 2,415.=

CUSIP NO: 913017109

2,439.000 WASTE MGMT INC DEL 73,128.71 68,611.18 79,047.99 0.542 2.962 2,341.1

CUSIP NO: 94106L109-- ------ ---------- ---------- ----- ----- --------

TOTAL INDUSTRIALS- -544,454.00 536,487.35 643,728.30 4.413 2.518 16,206.1

INFORMATION TECHNOLOGY

817.000 AUTOMATIC DATA PROCESSING INC 32,211.56 32,211.56 32,908.76 0.226 2.880 947.,

CUSIP NO: 053015103

42099008538300


AS OF 01/31/08

ACCOUNT PAGE 10


------------------

UNITS

---------------------------------

ASSET

-----------------

ORIGINAL

--------------------------

FEDERAL

---------------

MARKET

------------------

% OF

------------------

CURRENT

-------------

EST ANNUF

------------------

DESCRIPTION---------------------------------

COST-----------------

TAX COST

--------------------------

VALUE---------------

ACCOUNT------------------

YIELD------------------

INCOME-------------

1,381.000 CISCO SYS INC 24,746.28 24,746.28 33,834.50 0.232 0.000 0.(

CUSIP NO: 17275R102

1,433.000 HARRIS CORP DEL 23,205.45 16,561.18 78,241.80 0.536 1.099 859.E

CUSIP NO: 413875105

2,396.000 HEWLETT PACKARD CO 76,180.82 76,180.82 104,753.12 0.718 0.732 766.,

CUSIP NO: 428236103

2,917.000 INTEL CORP 67,635.60 67,635.60 61,548.70 0.422 2.417 1,487.E

CUSIP NO: 458140100

1,305.000 INTERNATIONAL BUSINESS MACHS 39,724.17 23,950.13 139,778.55 0.958 1.494 2,088.(

CUSIP NO: 459200101

3,610.000 MICROSOFT CORP 90,137.05 86,609.78 117,686.00 0.807 1.350 1,588.2

CUSIP NO: 594918104

3,814.000 NOKIA CORP 68,921.25 68,806.33 141,651.96 0.971 1.513 2,143.L

SPONSORED ADR

FINLAND

CUSIP NO: 654902204

3,693.000 TAIWAN SEMICONDUCTOR MFG LTD 36,207.90 36,207.90 34,160.25 0.234 3.935 1,344.2

SPONSORED ADR

TAIWAN

CUSIP NO: 874039100-------- ---------- ----- ----- --------

TOTAL INFORMATION TECHNOLOGY----------458,970.08

--432,909.58 744,563.64 5.104 1.508 11,226.(

MATERIALS

804.000 AIR PRODS & CHEMS INC 33,707.26 33,524.95 72,094.68 0.494 1.695 1,222.(

CUSIP NO: 009158106

873.000 DOW CHEM CO 37,783.79 37,783.79 33,732.72 0.231 4.348 1,466.E

CUSIP NO: 260543103

42099008538300


AS OF 01/31/08

ACCOUNT PAGE 11


--------------------------------------------------

UNITS ASSET

------------------

ORIGINAL

--------------------------

FEDERAL

----------------

MARKET

-----------------

% OF

------------------

CURRENT

-------------

EST ANNUl

DESCRIPTION--------------------------------------------------

COST------------------

TAX COST--------------------------

VALUE----------------

ACCOUNT-----------------

YIELD------------------

INCOME-------------

1,706.000 DU PONT E I DE NEMOURS & CO 81,310.52 81,310.52 77,077.08 0.528 3.630 2,797.£

CUSIP NO: 263534109---------- ---------- ---------- ----- ----- -------

TOTAL MATERIALS 152,801.57 152,619.26 182,904.48 1.253 3.000 5,486.E

TELECOMMUNICATION SERVICES

5,217.000 AT&T INC 113,469.80 113,447.28 200,802.33 1.376 4.157 8,347.

CUSIP NO: 00206R102

2,799.000 SPRINT NEXTEL CORP 51,378.38 51,378.38 29,473.47 0.202 0.950 279.5

CUSIP NO: 852061100

2,825.000 VERIZON COMMUNICATIONS INC 76,642.98 74,687.25 109,694.75 0.752 4.430 4,859.(

CUSIP NO: 92343V104

2,123.000 WINDSTREAM CORP 28,409.56 28,409.56 24,648.03 0.169 8.613 2,123.(

CUSIP NO: 97381W104- -- ---------- ---------- ----- ----- --------

TOTAL TELECOMMUNICATION SERVICES----- --269,900.72 267,922.47 364,618.58 2.499 4.281 15,609.]

UTILITIES

814.000 AMERICAN ELEC PWR INC 37,390.66 37,390.66 34,782.22 0.238 3.838 1,334.5

CUSIP NO: 025537101

1,134.000 DOMINION RES INC VA NEW 51,181.64 51,181.64 48,762.00 0.334 3.674 1,791.,

CUSIP NO: 25746U109

373.000 ENTERGY CORP NEW 37,323.35 37,323.35 40,351.14 0.277 2.773 1,119.(

CUSIP NO: 29364G103

592.000 EXELON CORP 42,423.79 42,423.79 45,051.20 0.309 2.628 1,184.(

CUSIP NO: 30161N101

566.000 FPL GROUP INC 33,748.54 33,748.54 36,422.10 0.250 2.549 928.;

CUSIP NO: 302571104

42099008538300


AS OF 01/31/08

ACCOUNT PAGE 12


--------------------------------------------------UNITS ASSET

------------------ORIGINAL

-------------------------FEDERAL

-----------------MARKET

-----------------% OF

------------------CURRENT

-------------EST ANNUl

DESCRIPTION

--------------------------------------------------

COST------------------

TAX COST-------------------------

VALUE-----------------

ACCOUNT-----------------

YIELD

------------------INCOME

-------------

481.000 FIRSTENERGY CORP 32,429.45 32,429.45 34,256.82 0 235 3.089 1,058.;CUSIP NO: 337932107

1,011.000 PG&E CORP 49,246.42 49,246.42 41,451.00 0.284 3.512 1,455.£CUSIP NO: 693310108

823.000 PPL CORP 40,640.32 40,640.32 40,203.55 0.276 2.497 1,004.(

CUSIP NO: 69351T106

540.000 PUBLIC SVC ENTERPRISE GROUP 46,233.03 46,233.03 51,840.00 0.355 1.344 696.ECUSIP NO: 744573106

2,400.000 SOUTHERN CO 72,032.64 72,032.64 87,276.00 0.598 4.427 3,864.(

CUSIP NO: 842587107---------- ---------- ---------- ----- ----- --------

TOTAL UTILITIES 442,649.84 442,649.84 460,396.03 3.156 3.136 14,436.E

COLLECTIVE FUNDS-EQUITY

38,540.823 SMALL CAP CTF 185,371.77 615,978.89 574,616.69 3.939 1.066 6,127.5

CUSIP NO: 1261291Q8

41,293.696 SMALL CAP GROWTH CTF 482,619.00 714,789.61 578,289.31 3.964 0.357 2,064.E

CUSIP NO: 207543877---------- ------------ ------------ ----- ----- -------

TOTAL COLLECTIVE FUNDS-EQUITY 667,990.77 1,330,768.50 1,152,906.00 7.903 0.711 8,192.E

MUTUAL FUNDS-EQUITY

30,075.188 COLUMBIA MULTI-ADVISOR INTL 400,000.00 400,000.00 481,203.01 3.299 1.206 5,804.!

EQUITY FUND CLASS Z SHARESCUSIP NO: 19765H677

---------- ---------- ---------- ----- ----- -------TOTAL MUTUAL FUNDS-EQUITY 400,000.00 400,000.00 481,203.01 3.299 1.206 5,804.E

OTHER EQUITIES

42099008538300


AS OF 01/31/08

ACCOUNT PAGE 13


-----------------

UNITS

-----------------------------------

ASSET

---------------

ORIGINAL

-------------------------

FEDERAL

------------------

MARKET

-----------------

% OF

-------------------

CURRENT

------------

EST ANNUF

-----------------

DESCRIPTION

-----------------------------------

COST

---------------

TAX COST

-------------------------

VALUE

------------------

ACCOUNT

-----------------

YIELD

-------------------

INCOME

------------

2,300.000 ISHARES MSCI EMERGING MKTS INDEX 165,738.00 165,738.00 314,847.00 2.158 1.422 4,478.]

FUNDCUSIP NO: 464287234

8,604.000 ISHR MSCI EAFE INDEX 456,184.08 456,184.08 622,413.36 4.266 2.765 17,208.(

FUNDCUSIP NO: 464287465

---- ---------- ----- ----- --------

TOTAL OTHER EQUITIES----------621,922.08

----- -621,922.08

-- ---------937,260.36

------------6.424

------2.314-----

21,686.]---------

TOTAL EQUITIES------------7,176,839.49

-7,705,450.00-------------

9,169,781.36

-------------62.858

-------

2.321-----

212,853.L---------

TOTAL FOR ACCOUNT-------------12,411,415 39 13,134,188.02 14,588,514.90 100.000 3.309 482,775.3

42099008538329

A S S E T S U M M A R Y

AS OF 01/31/08

Jt-

ACCOUNT PAGE 242-09-900-8538329 R & P SULLIVAN FDN ACC INC

----------------------------------------------------- -----------------------------------------FEDERAL

----------------

MARKET

------------------

% OF

------------------

CURRENT

------------

EST AND

-----------------------------------------------------

TAX COST-----------------------------------------

VALUE----------------

ACCOUNT------------------

YIELD------------------

INCOP------------


INCOME CASH 0.00 0.00PRINCIPAL CASH 0.00 0.00MONEY MARKET FUNDS 61,230.13

--------61,230.13

-14.820 4.389 2,6£

TOTAL CASH AND CASH EQUIVALENTS-61,230.13

----- ---61,230.13

------14.820

-----

4.389 2,6E

NOTES AND MORTGAGES

NOTES 351,921.97 351,921.97 85.180

ACCOUNT TOTAL----------413,152.10

----------413,152.10

-------100.000

----.650

----2,6£

42099008538329


AS OF 01/31/08

.Rt.


----------------------------------------------------

UNITS ASSET

----------------

ORIGINAL

--------------------------

FEDERAL

---------------

MARKET

------------------

% OF

------------------

CURRENT

-------------

EST ANNUL

DESCRIPTION

----------------------------------------------------

COST----------------

TAX COST

--------------------------VALUE

---------------ACCOUNT------------------

YIELD------------------

INCOME-------------


MONEY MARKET FUNDS

23,196.630 BANK OF AMERICA MONEY MARKET 23,196.63 23,196.63 23,196.63 5.615 4.389 1,018.3SAVINGS ACCOUNT(INCOME INVESTMENT)

CUSIP NO: 994458719

38,033.500 BANK OF AMERICA MONEY MARKET 38,033.50 38,033.50 38,033.50 9.206 4.389 1,669.SAVINGS ACCOUNTCUSIP NO: 994458719

TOTAL MONEY MARKET FUNDS---------61,230.13

---------61,230.13

---------61,230.13

------14.821

-----4.389

-------2,687.-

TOTAL CASH AND CASH EQUIVALENTS

---------

61,230.13---------61,230.13

---------61,230.13

------14.821

-----4.389

-------2,687.:

NOTES AND MORTGAGES

NOTES

100.000 JASON J MAJEWSKI STUDENT NOTE 700.00 700.00 700.00 0.169 0.000 0.(DATED 7/6/99 FOR $6,000.00@ 0 % MATURING 8/1/08

CUSIP NO: 992072728

100.000 CRISTIN M CAWLEY STUDENT NOTE 1,125.00 1,125.00 1,125.00 0.272 0.000 0.(DATED8/17/98 FOR $ 2,000.00 @0% INTEREST MATURITY 9-1-2010

CUSIP NO: 992072462

100.000 KIMBERLY PUNSALAN STUDENT NOTE 938.40 938.40 938.40 0.227 0.000 0.(DATED 7/27/88 FOR $4,700.00 @0 % MATURING 1/27/2012CUSIP NO: 992069914

42099008538329


AS OF 01/31/08

- ^r

ACCOUNT PAGE 4

42-09-900-8538329 R & P SULLIVAN FDN ACC INC

-----------------UNITS

------------------------------------ASSET

---------------ORIGINAL

-------------------------FEDERAL

-----------------MARKET

-----------------% OF

-------------------CURRENT

------------EST ANNUl

-----------------

DESCRIPTION------------------------------------

COST---------------

TAX COST-------------------------

VALUE----------------

ACCOUNT------------------

YIELD------------------

INCOME-------------

100.000 JAMES J. BRUNO, III NOTES DATED 1,200.00 1,200.00 1,200.00 0.290 0.000 0.(

7/2/92 FOR $1,700.00 @ 0% INTMATURITY 1/6/2013 *ACH*

CUSIP NO: 992069245

100.000 BRETT L BRUNO NOTE DTD 7/11/88 5,300.00 5,300.00 5,300.00 1.283 0.000 0.(

FOR $6,300.00 @ 0% INT RATE

MATURITY 3/6/2019 *ACH

CUSIP NO: 992069880

100.000 MONIQUE J. BRUNO STUDENT NOTE 5,600.00 5,600.00 5,600.00 1.355 0.000 0.(

DTD 7/14/90 FOR $6,600.00 AT 0%DUE 10-06-19 *ACH*CUSIP NO: 992069039

100.000 RUTH CANNON FRIESS STUDENT NOTE 2,980.00 2,980.00 2,980.00 0.721 0.000 0.(

DATED 7/14/88 FOR $6,300.00 @0 % MATURING 3/1/2021

CUSIP NO: 992069898

100.000 PAULA LUZZI NOTE DTD 7/18/95 FOR 6,800.00 6,800.00 6,800.00 1.646 0.000 0.(

$7,800.00 @ 0% INT RATE DUE ON

DEMANDCUSIP NO: 992069484

100.000 NADIO TOTINO BEARD STUDENT NOTE 6,300.00 6,300.00 6,300.00 1.525 0.000 0.(

DATED 7/14/88 FOR $6,300.00 @ 0%

DUE ON DEMANDCUSIP NO: 992069906

100.000 CARLA COLEMAN STUDENT NOTE DATED 2,400.00 2,400.00 2,400.00 0.581 0.000 0.(

7/15/89 FOR $4800.00 @ 0 %DUE ON DEMAND

CUSIP NO: 992069922

42099008538329


AS OF 01/31/08

r .(


----------------------------------------------------

UNITS ASSET

---------------

ORIGINAL

--------------------------

FEDERAL

----------------

MARKET

-----------------

% OF

--------------------

CURRENT

------------

EST ANNUF

DESCRIPTION----------------------------------------------------

COST---------------

TAX COST--------------------------

VALUE

----------------

ACCOUNT

-----------------YIELD

--------------------INCOME

------------

100.000 ROBERT ALVES STUDENT NOTE DATED 10,000.00 10,000.00 10,000.00 2.420 0.000 07/19/97 FOR $10,000.00 @ 0 %DUE ON DEMANDCUSIP NO: 992072173

100.000 ADAM BABBITT STUDENT NOTE DATED 225.00 225.00 225.00 0.054 0.000 0.(

7/20/97 FOR $2,000.00 @ 0 %DUE ON DEMANDCUSIP NO: 992072181

100.000 MEGAN BOETTCHER STUDENT NOTE DTD 4,000.00 4,000.00 4,000.00 0.968 0.000 0.(7/27/97 FOR $4,000.00 @ 0% INTDUE ON DEMAND

CUSIP NO: 992072199

100.000 RACHAEL CLARK STUDENT NOTE DTD 400.00 400.00 400.00 0.097 0.000 0.(7/29/97 FOR $6,000.00 @ 0% INTDUE ON DEMAND

CUSIP NO: 992072215

100.000 CHARLES EARL STUDENT NOTE DATED 6,228.00 6,228.00 6,228.00 1.507 0.060 0.(7/22/97 FOR $8,000.00 @ 0 %DUE ON DEMAND

CUSIP NO: 992072223

100.000 MICHELLE K BONILLO STUD NOTE DTD 300.00 300.00 300.00 0.073 0.000 0.(8/7/97 FOR $2,000.00 @ 0 %DUE ON DEMAND *ACH*CUSIP NO: 992072231

100.000 MARY O'NEIL STUDENT NOTE DTD 4,920.00 4,920.00 4,920.00 1.191 0.000 0.(7/17/97 FRO $8,000.00 @ 0 %DUE ON DEMAND

CUSIP NO: 992072249

42099008538329 r


AS OF 01/31/08

ACCOUNT PAGE 6


-----------------UNITS

------------------------------------ASSET

--------------ORIGINAL

--------------------------FEDERAL

-----------------MARKET

----------------% OF

-------------------CURRENT

-------------EST ANNUL

-----------------

DESCRIPTION

------------------------------------

COST

--------------

TAX COST

--------------------------

VALUE

-----------------

ACCOUNT

----------------

YIELD

-------------------

INCOME

-------------

100.000 JACQUELINE KONOLD STUDENT NOTE 1,128.00 1,128.00 1,128.00 0.273 0.000 0.(DATED 9/3/97 FOR $ 2,000.00 @0 % DUE ON DEMAND

CUSIP NO: 992072272

100.000 DANIELLE A BELLIVEAU STUDENT 1,116.00 1,116.00 1,116.00 0.270 0.000 0.(

NOTE DTD 8/13/98 FOR $2,000.00@ 0% DUE ON DEMANDCUSIP NO: 992072363

100.000 CORINNE A PARCHAISKI STUDENT 1,875.00 1,875.00 1,875.00 0.454 0.000 0.(NOTE DTD 8/12/98 FOR $2,000.00@ 0 % DUE ON DEMANDCUSIP NO: 992072371

100.000 JOSEPH M BONILLO STUDENT NOTE 4,700.00 4,700.00 4,700.00 1.138 0.000 0.(

DATED 8/13/98 FOR $6,000.00 @0% INTEREST DUE ON DEMAND *ACH*

CUSIP NO: 992072389

100.000 JOEL M RYAN STUDENT NOTE DTD 2,850.00 2,850.00 2,850.00 0.690 0.000 0.(8/13/98 FOR $4,000.00 @ 0 $DUE ON DEMANDCUSIP NO: 992072405

100.000 WILLIAM K PLATT STUDENT NOTE DTD 1,275.00 1,275.00 1,275.00 0.309 0.000 0.(8/18/98 FOR $2,000.00 @ 0 %DUE ON DEMANDCUSIP NO: 992072413

100.000 CHRISTINE NGUYEN STUDENT NOTE 2,000.00 2,000.00 2,000.00 0.484 0.000 0.(DATED 8/16/98 FOR $2,000.00 @0 % DUE ON DEMAND

CUSIP NO: 992072421

42099008538329


AS OF 01/31/08

ACCOUNT PAGE 7


-----------------

UNITS

------------------------------------

ASSET

--------------

ORIGINAL

--------------------------

FEDERAL

-----------------

MARKET

----------------

% OF

--------------------

CURRENT

------------

EST ANNUl

-----------------

DESCRIPTION------------------------------------

COST

--------------

TAX COST

--------------------------

VALUE

-----------------ACCOUNT----------------

YIELD.--------------------

INCOME------------

100.000 MICHAEL F MOORE STUDENT NOTE 2,900.00 2,900.00 2,900.00 0.702 0.000 0.(DATED 8/16/98 FOR $4,000.00@ 0 % DUE ON DEMAND

CUSIP NO: 992072439

100.000 STACY F GRAF STUDENT NOTE 1,525.00 1,525.00 1,525.00 0.369 0.000 0.(DATED 8/17/98 FOR $2,000.00

@ 0 % DUE ON DEMAND

CUSIP NO: 992072447

100.000 MICHAEL F CHAMBERLAND STUDENT 7,800.00 7,800.00 7,800.00 1.888 0.000 0.(NOTE DATED 8/16/98 FOR $8,000.00@ 0% INT DUE ON DEMAND

CUSIP NO: 992072470

100.000 REBECCA S SAUL STUDENT NOTE 1,450.00 1,450.00 1,450.00 0.351 0.000 0.(DATED 7/3/99 FOR $2,000.00 @0 % DUE ON DEMAND

CUSIP NO: 992072702

100.000 EMILY L CORONA STUDENT NOTE 1,360.00 1,360.00 1,360.00 0.329 0.000 0.(

DATED 6/26/99 FOR $2,0000.00@ 0% INTEREST DUE ON DEMANDCUSIP NO: 992072710

100.000 ERNEST M LABELLE STUDENT NOTE 1,286.00 1,286.00 1,286.00 0.311 0.000 0.(DATED 6/29/99 FOR $2,000.00

@ 0% DUE ON DEMANDCUSIP NO: 992072736

100.000 KRISTIN ALVES STUDENT NOTE DATED 8,497.00 8,497.00 8,497.00 2.057 0.000 0.(7/6/99 FOR $10,000.00 @ 0 %DUE ON DEMANDCUSIP NO: 992072744

42099008538329


AS OF 01/31/08


-----------------

UNITS

------------------------------------

ASSET

---------------

ORIGINAL

--------------------------

FEDERAL

----------------

MARKET

-----------------

% OF

-------------------

CURRENT

------------

EST ANNUl

-----------------

DESCRIPTION

------------------------------------

COST

---------------

TAX COST

--------------------------

VALUE

----------------

ACCOUNT

-----------------

YIELD

-------------------

INCOME

------------

100.000 CHRISTOPHER M ST. AMAND STUDENT 1,775.00 1,775.00 1,775.00 0.430 0.000 0.(NOTE DATED 7/1/99 FOR $2,000.00@ 0 % DUE ON DEMANDCUSIP NO: 992072751

100.000 NICKOLAS SOBANSKI STUDENT NOTE 1,450.00 1,450.00 1,450.00 0.351 0.000 0.(DATED 7/7/00 FOR $2,000.00 @ 0 %DUE ON DEMAND

CUSIP NO: 992072967

100.000 JENNIFER A WHITE-BEDNAR STUDENT 1,450.00 1,450.00 1,450.00 0.351 0.000 0.(NOTE DATED 7/14/00 FOR $2,000.00AT 0% DUE ON DEMANDCUSIP NO: 992072975

100.000 ALYSON DELPAINE STUDENT NOTE DTD 7,062.00 7,062.00 7,062.00 1.709 0.000 0.(

7/6/00 FOR $8,000.00 @ 0% INTDUE ON DEMANDCUSIP NO: 992072983

100.000 BRANDY ROMANOWSKI STUDENT NOTE 2,900.00 2,900.00 2,900.00 0.702 0.000 0.(DATED 7/12/00 FOR $4,000.00 @0 % DUE ON DEMAND

CUSIP NO: 992072991

100.000 ELIZABETH M CLARK STUDENT NOTE 4,918.00 4,918.00 4,918.00 1.190 0.000 0.(

DATED 7/18/00 FOR $8,000.00 @0% INT DUE ON DEMAND

CUSIP NO: 992073007

100.000 MICHAEL A MATOVIC STUDENT NOTE 300 00 300.00 300.00 0.073 0.000 0.(DATED 7/6/00 FOR $1,000.00 @0 % DUE ON DEMANDCUSIP NO: 992073015

42099008538329


AS OF 01/31/08

ACCOUNT PAGE 9


-----------------

UNITS

-----------------------------------

ASSET

----------------

ORIGINAL

--------------------------

FEDERAL

---------------

MARKET

------------------

% OF

------------------

CURRENT

-------------

EST ANNUL

-----------------

DESCRIPTION

-----------------------------------

COST

----------------

TAX COST

--------------------------

VALUE

---------------

ACCOUNT

------------------

YIELD

------------------

INCOME

-------------

100.000 ROSARIO CACCIATORE STUDENT NOTE 500.00 500.00 500 00 0.121 0.000 0.(DATED 7/11/01 FOR $2,000.00 @0% INT DUE ON DEMAND

CUSIP NO: 992073148

100.000 CHRISTOPHER MCINTYRE STUDENT 1,110.00 1,110.00 1,110.00 0.269 0.000 0.(NOTE DATED 7/10/01 FOR $2,000.00

@ 0 % DUE ON DEMAND -CUSIP NO: 992073155

100.000 ELIZABETH M SMITH STUDENT NOTE 5,600.00 5,600.00 5,600.00 1.355 0.000 0.(DATED 7/11/01 FOR $8,000.00 @0 % DUE ON DEMAND

CUSIP NO: 992073163

100.000 JONATHAN CAREY STUDENT NOTE DTD 1,090.00 1,090.00 1,090.00 0.264 0.000 0.(7/11/01 FOR $2,000.00 @ 0% INTDUE ON DEMAND

CUSIP NO: 992073171

100.000 DYLAN BRIGHAM STUDENT NOTE DTD 975.00 975.00 975.00 0.236 0.000 0.(7/14/01 FOR $2,000.00 @ 0% INTDUE ON DEMANDCUSIP NO: 992073189

100.000 BRIAN MOORE STUDENT NOTE DATED 3,950.00 3,950.00 3,950.00 0.956 0.000 0.(8/20/01 FOR $4,000.00 @ 0 %DUE ON DEMANDCUSIP NO: 992073197

100.000 BRYAN MCKENNA STUDENT NOTE DTD 2,152.27 2,152.27 2,152.27 0.521 0.000 0.(6/25/91 FOR $6,700.00 @ 0 %DUE ON DEMANDCUSIP NO: 992073387

42099008538329


AS OF 01/31/08

ACCOUNT PAGE 10


------------------

UNITS

-----------------------------------

ASSET

---------------

ORIGINAL

-------------------------

FEDERAL

----------------

MARKET

-----------------

% OF

-------------------

CURRENT

-------------

EST ANNUF

------------------

DESCRIPTION

-----------------------------------

COST

---------------

TAX COST

-------------------------

VALUE

----------------

ACCOUNT

-----------------

YIELD

-------------------

INCOME

-------------

100.000 JESSICA M FLEMING STUDENT NOTE 6,000.00 6,000.00 6,000.00 1.452 0.000 0.(DATED 7/22/02 FOR $6,000.00 @

0 % DUE ON DEMANDCUSIP NO: 992073601

100.000 MEGAN GAFFNEY STUDENT NOTE DATED 1,524.00 1,524.00 1,524.00 0.369 0.000 0.(7/20/02 FRO $2,000.00 @ 0 %DUE ON DEMAND

CUSIP NO: 992073619

100.000 COLIN HIGGINS STUDENT NTOE DTD 4,600.00 4,600.00 4,600.00 1.113 0.000 0.(7/31/02 FOR $6,000.00 @ 0 %DUE ON DEMAND *ACH*CUSIP NO: 992073627

100.000 PAUL DIO STUDENT NOTE DATED 2,000.00 2,000.00 2,000.00 0.484 0.000 0.(7/16/02 FOR $2,000.00 @ 0 %DEMAND NOTE

CUSIP NO: 992073635

100.000 THOMAS RYAN STUDENT NOTE DATED 850.00 850.00 850.00 0.206 0.000 0.(

7/15/02 FOR $2,000.00 @ 0 %DUE ON DEMAND

CUSIP NO: 992073643

100.000 ANTHONY DELPAINE STUDENT NOTE 3,062.00 3,062.00 3,062.00 0.741 0.000 0.(DATED 7/15/02 FOR $4,000.00 @ 0%DUE ON DENAND

CUSIP NO: 992073650

100.000 TRAVIS SUMPF STUDENT NOTE DATED 6,000.00 6,000.00 6,000.00 1.452 0.000 0.(7/15/03 FOR $6,000.00 @ 0 %DEMAND NOTECUSIP NO: 992073676

42099008538329


AS OF 01/31/08

ACCOUNT PAGE 11


------------------

UNITS

-----------------------------------

ASSET

---------------

ORIGINAL

-------------------------

FEDERAL

----------------

MARKET

------------------

% OF

------------------

CURRENT

-------------

EST ANNUL

------------------DESCRIPTION

-----------------------------------

COST---------------

TAX COST-------------------------

VALUE

----------------

ACCOUNT

------------------

YIELD

------------------

INCOME

-------------

100.000 WILLIAM HRONIS STUDENT NOTE DTD 1,312.00 1,312.00 1,312.00 0.318 0.000 0.(

7/21/03 FOR $2,000.00 @ 0%DEMAND NOTE

CUSIP NO: 992073684

100.000 EILEEN HEATH-ELDRIDGE STUDENT 4,375.00 4,375.00 4,375.00 1.059 0.000 0.(

NOTE DTD 7/13/90 FOR $6,600.00AT 0% INT. DUE 12/31/2050CUSIP NO: 992068981

100.000 BRIAN GIBSON STUDENT NOTE DTD 2,025.00 2,025.00 2,025.00 0.490 0.000 0.(

7/16/90 FOR $6,600.00 AT 0% INT.DUE 12/31/2050CUSIP NO: 992068999

100.000 JOEL FREEDMAN STUDENT NOTE DTD 2,190.00 2,190.00 2,190.00 0.530 0.000 0.(

7/16/90 FOR $3,200.00 AT 0% INTDUE 12/31/2050CUSIP NO: 992069005

100.000 ANDREA BOCZAR-FOX STUDENT NOTE 1,750.00 1,750.00 1,750.00 0.424 0.000 0.(

DTD 7/20/90 FOR $6,600.00 AT 0%INTEREST. DUE 12/31/2050CUSIP NO: 992069054

100.000 JESSICA GRABEL-HICKEY STUDENT 50.00 50.00 50.00 0.012 0.000 0.(

NOTE DTD 6/25/91 FOR $6,700.00 @

0% INTEREST. DUE 12/31/2050CUSIP NO: 992069062

100.000 TORIN P. FITTON STUDENT NOTE DTD 1,500.00 1,500.00 1,500.00 0.363 0.000 0.(

6/25/91 FOR $6,700.00 AT 0% INT

DUE 12/31/2050CUSIP NO: 992069070

42099008538329


AS OF 01/31/08


-----------------------------------------------------UNITS ASSET

---------------ORIGINAL

--------------------------FEDERAL

---------------MARKET

------------------% OF

------------------CURRENT

-------------EST ANNUF

DESCRIPTION

-----------------------------------------------------

COST

---------------

TAX COST

--------------------------VALUE

---------------ACCOUNT

------------------YIELD

------------------INCOME

-------------

100.000 MOIRA BESSETTE-MARTIN STUDENT 3,125.00 3,125.00 3,125.00 0.756 0.000 0.(NOTE DTD 6/28/91 FOR $5,850.00 @

0% INTEREST. DUE ON DEMAND

CUSIP NO: 992069088

100.000 AMY E. ARD STUDENT NOTE DTD 1,440.00 1,440.00 1,440.00 0.349 0.000 0.(7/12/91 FOR $5,850.00 AT 0% INT.DUE ON DEMAND

CUSIP NO: 992069096

100.000 DENNIS ADLER STUDENT NOTE DTD 2,524.00 2,524.00 2,524.00 0.611 0.000 0.(6/25/91 FOR $8,500.00 AT 0% INT.DUE ON DEMAND *ACH*

CUSIP NO: 992069104

100.000 JULIE POBLETE STUDENT LOAN DTD 6,500.00 6,500.00 6,500.00 1.573 0.000 0.(

07/4/91 FOR $6,700.00 AT 0% INT.DUE 12/31/2050CUSIP NO: 992069112

100.000 KATHLEEN O'NEIL STUDENT NOTE DTD 1,050.00 1,050.00 1,050.00 0.254 0.000 0.(6/26/91 FOR $5,850.00 AT 0% INT.DUE 12/31/2050CUSIP NO: 992069120

100.000 EILEEN M. O'FARRELL STUDENT NOTE 3,000.00 3,000.00 3,000.00 0.726 0.000 0.(DTD 8/22/91 FOR $3,950.00 AT 0%INTEREST. DUE 12/31/2050

CUSIP NO: 992069138

100.000 CARMELA LUZZI-FOURNIER STUDENT N 1,625.00 1,625.00 1,625.00 0.393 0.000 0.(NOTE DTD 7/5/91 FOR $6,700.00 AT0% INTEREST. DUE 12/31/2050CUSIP NO: 992069146

42099008538329


AS OF 01/31/08


-----------------

UNITS

-----------------------------------

ASSET

----------------

ORIGINAL

-------------------------

FEDERAL

----------------

MARKET

------------------

% OF

------------------

CURRENT

-------------

EST ANNUL

-----------------

DESCRIPTION

-----------------------------------

COST

----------------

TAX COST

-------------------------

VALUE

-----------------

ACCOUNT

-----------------

YIELD

------------------

INCOME

-------------

100.000 DONNA M. LUZZI STUDENT NOTE DTD 675.00• 675.00 675.00 0.163 0.000 0.(7/5/91 FOR $3,300.00 AT 0% INT.DUE 12/31/2050CUSIP NO: 992069153

100.000 DOMINICK J. CELTRUDA STUDENT 3,850.00 3,850.00 3,850.00 0.932 0.000 0.(NOTE DTD 7/15/92 FOR $7,200.00 @0% INTEREST. DUE 12/31/2050

CUSIP NO: 992069161

100.000 RYAN FULGUERAS, NOTES DATED 1,843.00 1,843.00 1,843.00 0.446 0.000 0.(6/28/92 FOR $3,400.00 @ 0% INTDUE ON DEMAND

CUSIP NO: 992069187

100.000 GABRIELLE HODGE, NOTES DATED 4,350.00 4,350.00 4,350.00 1.053 0.000 0.(6/21/92 FOR $4,350.00 @ 0% INTDUE ON DEMAND

CUSIP NO: 992069195

100.000 BETHANY C. LUTY, NOTES DATED 4,125.04 4,125.04 4,125.04 0.998 0.00.0 0.(


100.000 FRANCIS J. O'FARRELL, NOTES DTD 1,700.00 1,700.00 1,700.00 0.411 0.000 0.(8/2/92 FOR $1,700.00 @ 0% INT.DUE ON DEMANDCUSIP NO: 992069211

100.000 JULIETTE PALMIERI ALLEN NOTES 3,000.00 3,000.00 3,000.00 0.726 0.000 0.(

DTD 7/1/02 FOR $5,200.00 @ 0 %INT. DUE ON DEMANCUSIP NO: 992069229

42099008538329


AS OF 01/31/08

ACCOUNT PAGE 14


-----------------UNITS

------------------------------------ASSET

---------------ORIGINAL

--------------------------FEDERAL

----------------MARKET

-----------------% OF

------------------CURRENT

-------------EST ANNUF

-----------------

DESCRIPTION------------------------------------

COST---------------

TAX COST--------------------------

VALUE----------------

ACCOUNT

-----------------

YIELD

------------------

INCOME-------------

100.000 REGINA RATTLEY, NOTES DATED 1,060.00 1,060.00 1,060.00 0.257 0.000 0.(

7/14/92 FOR $5,200.00 @ 0%INT. DUE ON DEMAND

CUSIP NO: 992069237

100.000 MICHAEL C. FRIESS NOTES DATED 4,200.00 4,200.00 4,200.00 1.017 0.000 0.(


100.000 HEIDI L. ELLIOTT, NOTES DTD 7,200.00 7,200.00 7,200.00 1.743 0.000 0.(

6/26/93 FOR $7,200.00 @ 0%INT. DUE ON DEMANDCUSIP NO: 992069286

100.000 PUAL D. BYCHOWSKY, JR. NOTES DTD 1,340.00 1,340.00 1,340.00 0.324 0.000 0.(

7/15/93 FOR $1,700.00 @ 0% INTDUE ON DEMAND

CUSIP NO: 992069294

100.000 SALAHUDI ABDUL-HAKEEM NOTE DATED 500.00 500.00 500.00 0.121 0.000 0.(

7/27/93 FOR $500.00 @ 0% INTDUE ON DEMANDCUSIP NO: 992069302

100.000 ALISON LUZIETTI NOTES DATED 5,200.00 5,200.00 5,200.00 1.259 0.000 0.(

7/4/93 FOR $7,200.00 @ 0% INTDUE ON DEMAND *ACH*

CUSIP NO: 992069310

100.000 JACK PESCATELLO NOTES DATED 8,900.00 8,900.00 8,900.00 2.154 0.000 0.(

6/25/93 FOR $11,200.00 @ 0%INT. DUE ON DEMAND

CUSIP NO: 992069344

42099008538329


AS OF 01/31/08

ACCOUNT PAGE 15


-----------------

UNITS

-----------------------------------

ASSET

----------------

ORIGINAL

--------------------------

FEDERAL

----------------

MARKET

-----------------

% OF

------------------

CURRENT

-------------

EST ANNUL

-----------------DESCRIPTION

-----------------------------------

COST----------------

TAX COST--------------------------

VALUE----------------

ACCOUNT-----------------

YIELD------------------

INCOME-------------

100.000 THOMAS O'NEIL NOTES DATED 3,850.00 3,850.00 3,850.00 0.932 0.000 0.(7/7/93 FOR $5,500.00 @ 0% INTDUE ON DEMANDCUSIP NO: 992069351

100.000 ANDREW J. BONILLO, JR. NOTES 100.00 100.00 100.00 0.024 0.000 0.(DTD 7/24/94 FOR $7,500.00 @ 0%INT. DUE ON DEMAND *ACH*

CUSIP NO: 992069377

100.000 ADAM BARLOW, NOTES DATED 3,800.00 3,800.00 3,800.00 0.920 0.000 0.(7/20/95 FOR $3,800.00 @0% INTDUE ON DEMAND

CUSIP NO: 992069450

100.000 DAVID DESHEFY, NOTES DATED 4,240.00 4,240.00 4,240.00 1.026 0.000 0.(7/18/95 FOR $7,800.00 @ 0% INTDUE ON DEMAND

CUSIP NO: 992069468

100.000 TIMOTHY PETRANEK NOTE DTD 8/5/95 1,500.00 1,500.00 1,500.00 0.363 0.000 0.(FOR $1,800.00 @ 0% INT RATE DUEON DEMAND

CUSIP NO. 992069492

100.000 LORI ST GERMAIN NOTE DTD 7/28/95 646.42 646.42 646.42 0.156 0.000 0.(FOR $7,800.00 @ 0% INT RATE DUE

ON DEMANDCUSIP NO: 992069500

100.000 GREGORY SMITH NOTE DTD 7/19/95 5,800.00 5,800.00 5,800.00 1.404 0.000 0.(FOR $7,800.00 @ 0% INT RATE DUEON DEMAND

CUSIP NO: 992069518

42099008538329


AS OF 01/31/08

ACCOUNT PAGE 16


------------------UNITS

-----------------------------------ASSET

---------------ORIGINAL

-------------------------FEDERAL

----------------MARKET

-----------------% OF

-------------------CURRENT

-------------EST ANNUF

------------------

DESCRIPTION-----------------------------------

COST---------------

TAX COST-------------------------

VALUE----------------

ACCOUNT-----------------

YIELD-------------------

INCOME-------------

100.000 DORI BERGAMO-PARNIAWSKI NOTE DTD 1,090.00 1,090.00 1,090.00 0.264 0.000 0.(

8/10/96 FR $2,000.00 @ 0% INT.RATE DUE ON DEMAND

CUSIP NO: 992069575

100.000 MARTIN J MOORE NOTE DTD 7/29/96 4,350.00 4,350.00 4,350.00 1.053 0.000 0.(

FOR $6,000.00 @ 0% INT RATE DUE

ON DEMAND

CUSIP NO: 992069583

100.000 SARAH C MURPHY NOTE DTD 8/4/96 3,975.00 3,975.00 3,975.00 0.962 0.000 0.(

FOR $6,000.00 @ 0% INT RATE DUEON DEMAND

CUSIP NO: 992069591

100.000 FRANK PESCATELLO NOTE DTD7/21/96 5,700.00 5,700.00 5,700.00 1.380 0.000 0.(

FOR $8,000.00 @ 0% INT RATE DUE

ON DEMANDCUSIP NO: 992069609

100.000 SARAH RICARD NOTE DTD 7/22/96 933.84 933.84 933.84 0.226 0.000 0.(

FOR $8,000 @ 0% INT RATE DUE ONDEMAND

CUSIP NO: 992069617

100.000 KIMBERLY SMITH NOTE DTD 7/19/96 6,000.00 6,000.00 6,000.00 1.452 0 000 0.(

FOR $8,000 @ 0% INT RATE DUE ON

DEMAND

CUSIP NO: 992069625

100.000 MICHAEL E SMITH NOTE DTD 7/18/96 8,000.00 8,000.00 8,000.00 1.936 0.000 0.(

FOR $8,000 @ 0% INT RATE DUE ONDEMANDCUSIP NO: 992069633

42099008538329


AS OF 01/31/08

ACCOUNT PAGE 17


-----------------UNITS

------------------------------------ASSET

--------------ORIGINAL

--------------------------FEDERAL

----------------MARKET

-----------------% OF

-------------------CURRENT

-------------EST ANNUF

-----------------

DESCRIPTION

------------------------------------

COST

--------------

TAX COST

--------------------------

VALUE

----------------

ACCOUNT

-----------------

YIELD

-------------------

INCOME

-------------

100.000 RICHARD BERNARDO NOT DTD 10/1/73 310.00 310.00 310.00 0.075 0.000 0.(FOR $2,900 @ 0% INT RATE DUE ON

DEMAND

CUSIP NO: 992069641

100.000 HANNAH BEAL WILL NOTE DTD 9/1/80 1,330.00 1,330.00 1,330.00 0.322 0.000 0.(FOR $3,600 @ 0% INT RATE DUE ONDEMAND

CUSIP NO: 992069658

100.000 STEPHANIE GLYNN HALL NOTE DTD 990.00 990.00 990.00 0.240 0.000 0.(8/19/81 FOR $2,800 @ 0% INT

DUE ON DEMAND

CUSIP NO: 992069674

100.000 MARY ELLEN MAHONEY NOTE DTD 620.00 620.00 620.00 0.150 0.000 0.(7/14/83 FOR $3,000 @ 0% INT RATEDUE ON DEMAND

CUSIP NO: 992069690

100.000 JOHN DONOVAN NOTE DTD 8/6/85 FOR 1,625.00 1,625.00 1,625.00 0.393 0.000 0.($6,700.00 @ 0% INT RATE DUE ON

DEMAND

CUSIP NO: 992069757

100.000 DAWN MACAULEY MCGEE NOTE DTD 3,050.00 3,050.00 3,050.00 0.738 0.000 0.(7/31/86 FOR $10,600.00 @ 0% INTRATE DUE ON DEMANDCUSIP NO: 992069773

100.000 MARCIA LAND CALCAGNO NOTE DTD 800.00 800.00 800.00 0.194 0.000 0.(

8/5/86 FOR $5,700.00 @ 0% INTDUE ON DEMAND

CUSIP NO: 992069781

42099008538329


AS OF 01/31/08

4

' f

ACCOUNT PAGE 18


-----------------

UNITS

------------------------------------

ASSET

---------------

ORIGINAL

-------------------------

FEDERAL

-----------------

MARKET

----------------

% OF

-------------------

CURRENT

-------------

EST ANNUF

-----------------

DESCRIPTION

------------------------------------

COST

---------------

TAX COST

-------------------------

VALUE

-----------------

ACCOUNT

----------------

YIELD

-------------------

INCOME

-------------

100.000 DANIELA TORINO BEARD NOTE DTD 4,035.00 4,035.00 4,035.00 0.977 0.000 0.(7/22/87 FOR $6,200 @ 0% INT RATE

DUE ON DEMAND

CUSIP NO: 992069807

100.000 KRISTEN M QUARATELLA NOTE DTD 1,841.00 1,841.00 1,841.00 0.446 0.000 0.(7/15/87 FOR $6,200.00 @ 0% INTRATE DUE ON DEMAND

CUSIP NO: 992069815

100.000 JEFFREY TYCZ NOTE DTD 7/6/88 FOR 1,500.00 1,500.00 1,500.00 0.363 0.000 0.(

$6,300.00 @ 0% INT RATE DUE ON

DEMAND

CUSIP NO: 992069831

100.000 JUSTIN DRISCOLL NOTE DTD 7/5/88 1,800.00 1,800.00 1,800.00 0.436 0.000 0.(FOR $4,100.00 @ 0% INT RATE DUEON DEMAND

CUSIP NO: 992069849

100.000 MICHELLE DUDDY NOTE DTD 7/11/88 1,990.00 1,990.00 1,990.00 0.482 0.000 0.(FOR $6,300.00 @ 0% INT RATE DUE -ON DEMAND *ACH*CUSIP NO: 992069856

100.000 CHRISTINE M MILLER NOTE DTD 1,650.00 1,650.00 1,650.00 0.399 0.000 0.(7/6/88 FOR $6,300 @ 0% INT RATE

DUE ON DEMAND *ACH*CUSIP NO: 992069864

100.000 DANIEL ADLER NOTE DTD 7/5/88 FOR 2,440.00 2,440.00 2,440.00 0.591 0.000 0.($4,700.00 @ 0% INT RATE DUE ONDEMANDCUSIP NO: 992069872

42099008538329


AS OF 01/31/08

ACCOUNT PAGE 20


------------------

UNITS

-----------------------------------

ASSET

---------------

ORIGINAL

--------------------------

FEDERAL

----------------

MARKET

-----------------

% OF

------------------

CURRENT

-------------

EST ANNUF

DESCRIPTION COST TAX COST VALUE ACCOUNT YIELD INCOME

------------------ ----------------------------------- --------------- -------------------------- ---------------- ----------------- ------------------ -------------

100.000 COURTNY GREEN STUDENT LOAN DTD V 4,500.00 4,500.00 4,500.00 1.089 0.000 0.(

7/10/06 FOR $ 2,000.00 AT 0%INTEREST . DUE ON DEMANDCUSIP NO: 994200467

100.000 STEPHEN M. CASTALDI STUDENT LOAN / 2,000.00 2,000 . 00 2,000.00 0.484 0.000 0.(

DTD 8/16/06 FOR $2 , 000.00 AT 0%

INTEREST . DUE ON DEMAND

CUSIP NO: 994200475

100.000 GEOFFREY F. SMITH STUDENT LOAN 2,500 . 00 2,500.00 2,500.00 0.605 0.000 0.(

DTD 7/19/07 FOR $2,500.00 AT 0%INTEREST . DUE ON DEMAND

CUSIP NO: 994200756

100.000 HOPE BRIGHAM STUDENT NOTE DTD 2 , 500.00 2,500 . 00 2,500.00 0.605 0.000 0.(

7/18/07 FOR $ 2,500.00 AT 0%INTEREST . DUE ON DEMAND

CUSIP NO: 994200764

100.000 KATHRYN M. CARTA STUDENT LOAN 2,500.00 2,500.00 2,500.00 0.605 0.000 , 0.(

DTD 8 / 9/07 FOR $2,500 . 00 AT 0%INTEREST . DUE ON DEMAND

CUSIP NO: 994200772

100.000 FRANK LOWERY III STUDENT NOTE 2,500.00 2,500.00 2,500.00 0.605 0.000 0.(

DTD 8 / 12/07 FOR $2 , 500.00 AT 0%INTEREST . DUE ON DEMAND

CUSIP NO: 994200780

100.000 JOSEPH R. THIBEAULT STUDENT NOTE 2,500.00 2,500.00 2,500.00 0.605 0.000 0.(

DTD 7 / 31/07 FOR $2 , 500.00 AT 0%INTERST. DUE ON DEMANDCUSIP NO: 994200798

---------- ---------- ------ -----

TOTAL NOTES

----------

351,921.97 351,921.97 351,921.97 85.177 0.000 0.(

42099008538329


AS OF 01/31/08

ACCOUNT PAGE 21


----------------------------------------------

UNITS ASSET

----------------------

ORIGINAL

--------------------------

FEDERAL

---------------

MARKET

-----------------

% OF

-------------------

CURRENT

-------------

EST ANNUl

DESCRIPTION

----------------------------------------------

COST

----------------------

TAX COST

--------------------------

VALUE

---------------

ACCOUNT

-----------------

YIELD

-------------------

INCOME

-------------

TOTAL NOTES AND MORTGAGES----------

351,921.97

-------

----------

351,921.97

----------

----------

351,921.97

----------

------

85.177

-------

-----

0.000

-----

0.(-------

TOTAL FOR ACCOUNT---413,152.10 413,152.10 413,152.10 100.000 0.650 2,687.=

42099008538329


AS OF 01/31/08

ACCOUNT PAGE 19 1


1

-----------------

UNITS

----------------------------------

ASSET

----------------------

ORIGINAL

--------------------

FEDERAL

-----------------

MARKET

-----------------

% OF

------------------

CURRENT

-------------

EST ANNUF

-----------------

DESCRIPTION

----------------------------------

COST

----------------------

TAX COST

--------------------

VALUE

-----------------

ACCOUNT

----------------

YIELD

-------------------

INCOME

-------------

100.000 JENNIFER BELLAVANCE FOREST STUD 3,600.00 3,600.00 3,600.00 0.871 0.000 0.(

NOTE DATED 7/10/89 FOR $4,800.00

@ 0 % DUE ON DEMAND

CUSIP NO: 992069930

100.000 KEVIN KEHOGREEN STUDENT LOAN DTD 2,000.00 2,000.00 2,000.00 0.484 0.000 0.(

8/26/05 FOR $2,000.000 AT 0%

INTEREST. DUE ON DEMAND

CUSIP NO: 994200111

100.000 IAN HIGGINS STUDENT LOAN DTD 2,000.00 2,000.00 2,000.00 0.484 0.000 0.(

07/8/05 FOR $2,000.00 AT 0%INTEREST. DUE ON DEMANDCUSIP NO: 994200129

100.000 MATTHEW MAJEWSKI STUDENT LOAN J 6,500.00 6,500.00 6,500.00 1.573 0.000 0.(

DTD 7/16/05 FOR $2,000.00 AT 0%

INTEREST. DUE ON DEMAND

CUSIP NO: 994200137

100.000 CHEN HAOYU STUDENT LOAN DTD 2,000.00 2,000.00 2,000.00 0.484 0.000 0.(

7/28/04 FOR $2,000.00 AT 0%INTEREST. DUE ON DEMAND

CUSIP NO: 994200145

100.000 JAMIE LYNN FLEMING STUDENT LOAN 2,000.00 2,000.00 2,000.00 0.484 0.000 0.(

DTD 7/20/04 FOR $2,000.00 AT 0%INTEREST. DUE ON DEMAND

CUSIP NO: 994200152

100.000 HANNAH BRIGHAM STUDENT LOAN DTD 2,000.001 2,000.00 2,000.00 0.484 0.000 0.(

8/25/06 FOR $2,000.00 AT 0%INTEREST. DUE ON DEMAND

CUSIP NO: 994200459

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