National Garden Clubs, Inc. · rock spring garden club nancy snell 4/28/2020 68.00va haymarket town...

National Garden Clubs, Inc.April 30, 2020

Monthly Financial Overview

General Fund June 1, 2019 April 30, 2020 Change In ValueVanguard Investment 278,424 286,354 7,930 2.85%Total 278,424 286,354 7,930 2.85%

NGC Endowment June 1, 2019 April 30, 2020 Change In ValueVanguard Investment 350,021 361,872 11,851Total 350,021 361,872 11,851 3.39%

PH&E June 1, 2019 April 30, 2020 Change In ValueVanguard Investment 6,569,750 6,792,873 223,123Total 6,569,750 6,792,873 223,123 3.40%

Deen Day Sanders Fund June 1, 2019 April 30, 2020 Change In ValueVanguard Investment 518,715 536,740 18,024Total 518,715 536,740 18,024 2.90%

June M Kummer Fund June 1, 2019 April 30, 2020 Change In ValueVanguard Investment 2,172,976 2,113,678 -59,298Total 2,172,976 2,113,678 -59,298 -2.73%

Scholarship Fund June 1, 2019 April 30, 2020 Change In ValueVanguard Investment 4,482,263 4,637,053 154,790Total 4,482,263 4,637,053 154,790 3.45%

Wildflower Fund June 1, 2019 April 30, 2020 Change In ValueVanguard Investment 4,134,168 4,276,769 142,601Total 4,134,168 4,276,769 142,601 3.45%

Total of Funds 18,506,317 19,005,339 499,022 2.70%

Member Services Income For April 2020

Income Cost of Sales Gross Profit Apr-19Month YTD Budget Month YTD Budget Month YTD YTD

BOOKS 465 34,320 125,000 289 18,814 56,213 176 15,506 27,528

CALENDARS 3 31,120 45,000 2 20,236 32,593 1 10,884 9,444

JEWELRY 338 7,458 13,000 149 4,614 9,158 189 2,844 1,527

NCP 40 1,185 3,000 8 193 109 32 992 984

SLIDES 0 0 100 0 0 873 0 0 0

PROGRAM PLANS 0 540 1,000 0 165 90 0 375 302

RIBBONS 79 27,797 45,000 333 16,334 22,114 -254 11,463 21,823

ORNAMENT 0 0 0 0 0 0 0 0 0

GARDEN CART 135 7,686 10,000 99 3,584 9,431 36 4,101 -2,353

EDUCATIONAL TOOLS 0 1,080 2,500 0 254 121 0 826 1,076

Total 1,060 111,186 244,600 881 64,193 130,702 179 46,992 60,332

Monetary Receipts ‐ April 2020

Name Amount

30.00Affiliates

2,430.00State Dues

254.50Meetings: Other Income Convention

472.21Member Service Invoice Payments

11,084.00Penny Pines

195.00Plant America

100.00Awards

385.43Deen Day Sanders Dividend

400.00Life Membership

50.00PH&E Contributions

65.00ESS Fees

320.00FSS Fees

525.00GSS Fees

135.00TNG Advertising

16,446.14

Monetary ReceiptsClub Name Name Date Received AmountState

Affiliates4/21/2020 30.00SCDANIEL ISLAND GARDEN CLUB TIM FIRMENT

30.00

State Dues4/7/2020 2,428.00FLFLORIDA FEDERATION OF GARDE J W

4/14/2020 2.00TNTAGS JEAN RICHARDSON

2,430.00

Meetings: Other Income Conv4/28/2020 254.50WINA SARAH G

254.50

Penny Pines4/7/2020 68.00AZOECAN GROVE GARDEN CLUB BETTY MCENTIRE

4/7/2020 68.00OKFORT COBB IMPROVEMENT CLUB LETHA WILSON

4/7/2020 204.00FLVENICE AREA GC MERRY LUCAS

4/7/2020 1,836.00FLFLORIDA FEDERATION OF GARDE J W

4/14/2020 68.00MDJOPPATOWNE GC SOPHIA MONTGOMERY

4/14/2020 68.00PASOMERSET GARDEN CLUB JUDITH RACH

4/14/2020 816.00WAEUMCLAW GARDEN CLUB DEBORA AKERS

4/14/2020 2,448.00FLFLORIDA FEDERATION OF GARDE J W

4/14/2020 68.00OHART OF GARDENING CLUB ROSEMARY CARTER

4/14/2020 68.00OHJEFFERSON GARDEN CLUB BETH COOL

4/14/2020 68.00OHPICKAWAY COUNTY GC DOROTHY HANEY

4/14/2020 68.00VAWESTHAM GC JOHANNA GILLSERT

4/21/2020 136.00TNTENNESSEE FEDERATION OF GAR JANICE MEISSNER

4/21/2020 204.00MAGARDEN CLUB FEDERATION OF M A W

4/21/2020 68.00LALAFAYETTE GC BABETTE WERNER

4/21/2020 136.00VAGREEN MEADOW POINT GC BARBARA OHMSEN

4/28/2020 1,564.00FLFLORIDA FEDERATION OF GARDE JANA WALLING

4/28/2020 68.00VAROCK SPRING GARDEN CLUB NANCY SNELL

4/28/2020 136.00VAHAYMARKET TOWN & COUNTRY JUDY TWEEL

4/28/2020 2,788.00FLFLORIDA FEDERATION OF GARDE JANA WALLING

4/28/2020 136.00CAWOMAN'S CLUB OF HERMOSA BE ROBIN BOSMAJIAN

11,084.00

Plant America4/14/2020 195.00ARARKANSAS FEDERATION OF GC BOBBIE VERSER

195.00

Awards

Page 1 of 2

Club Name Name Date Received AmountState

4/21/2020 100.00MIMICHIGAN GC BUNNY LADUKE

100.00

Deen Day Sanders Dividend4/7/2020 56.08PAVANGUARD

4/7/2020 50.95PAVANGUARD

4/7/2020 70.70PAVANGAURD



385.43

Life Membership4/7/2020 400.00MIKALAMAZOO GARDEN COUNCIL JEANETTE MEYER

400.00

PH&E Contributions4/14/2020 50.00MSNA GAY AUSTIN

50.00

ESS Fees4/14/2020 65.00FLNEW SMYRNA BEACH GC MAUREEN COFFEY

65.00

FSS Fees4/7/2020 170.00MSNISSISSIPPI FLOWER SHOW JUDG MELANIE GOUSSET

4/7/2020 35.00NVNEVADA GARDEN CLUBS, INC JUDITH STEBBINS

4/14/2020 50.00NCNA JOYCE ADAMS

4/14/2020 65.00FLNA LINDA HENDERSON

320.00

GSS Fees4/7/2020 110.00CAVALLEY LODE DISTRICT B HENDRIX

4/7/2020 150.00NMNA DEBI HARRINGTON

4/21/2020 120.00ORTHE OREGON STATE FEDERATION MARGARET T

4/28/2020 5.00CAVALLEY LODGE DISTRICT A PLUMMER

4/28/2020 140.00CAVALLEY LODE DISTRICT A PLUMMER

525.00

TNG Advertising4/21/2020 135.00WINA KENNETH SWARTZ

135.00

Page 2 of 2

National Garden Clubs, Inc Check Detail

April 2020Type Num Date Name Account Original Amount

Check 2000 04/10/2020 Pitney Bowes Global Financial Services 111111 · CASH BOA -442.25

266111 · OFF. EQUIP & SERV 442.25

442.25

Check 2100 04/09/2020 WASTE MANAGEMENT OF ST LOUIS 211111 · PHE CASH -755.38

264122 · BLDG. MAINT. 755.38

755.38

Bill Pmt -Check 43436 04/02/2020 BINDER PR & MARKETING 111111 · CASH BOA -7,500.00

Bill 5313-63 04/02/2020 171262 · TNG Editor 7,500.00

7,500.00

Bill Pmt -Check 43437 04/02/2020 BRETSKY PROMOTIONS 111111 · CASH BOA -2,300.59

Bill 1624 04/01/2020 114411 · RIBBONS, SEALS& TAGS INV 740.00

114411 · RIBBONS, SEALS& TAGS INV 740.00

159121 · FREIGHT & POSTAGE 35.00




Bill 1581 04/01/2020 114151 · JEWELRY INVENTORY 179.00




Bill 1615 04/02/2020 155111 · RIBBONS, SEALS & TAGS COS 205.25

2,300.59

Bill Pmt -Check 43438 04/02/2020 PRISM MARKETING 111111 · CASH BOA -18.40


18.40

Page 1 of 21


April 2020

Bill Pmt -Check 43439 04/02/2020 SYSTEMS GRAPHICS 111111 · CASH BOA -1,510.42

Bill 17245 03/19/2020 114411 · RIBBONS, SEALS& TAGS INV 1,000.00

114411 · RIBBONS, SEALS& TAGS INV 500.00


1,510.42

Bill Pmt -Check 43440 04/02/2020 ACC Business 211111 · PHE CASH -812.44

Bill 200730292 04/02/2020 267311 · TELEPHONE 812.44

812.44

Bill Pmt -Check 43441 04/02/2020 AT&T 211111 · PHE CASH -295.18

Bill 314 865-3037 025 7 04/02/2020 267311 · TELEPHONE 295.18

295.18

Bill Pmt -Check 43442 04/02/2020 AVAYA INC 211111 · PHE CASH -199.62

Bill 35175177 04/02/2020 267311 · TELEPHONE 199.62

199.62

Bill Pmt -Check 43443 04/02/2020 Office Essentials 211111 · PHE CASH -491.92

Bill CIV1158090 04/02/2020 266301 · SUPPLIES & MISCELLANEOUS 491.92

491.92

Bill Pmt -Check 43444 04/02/2020 SFP LANDSCAPING INC 211111 · PHE CASH -5,909.50

Bill 24199 04/02/2020 264144 · GROUNDS MAINT. 5,909.50

5,909.50

Bill Pmt -Check 43445 04/02/2020 SumnerOne 211111 · PHE CASH -743.90

Bill L307038020 04/02/2020 266111 · OFF. EQUIP & SERV 743.90

Page 2 of 21


April 2020743.90

Bill Pmt -Check 43446 04/02/2020 BINDER PR & MARKETING 511111 · WILDFLOWER CHECKING -1,790.00

Bill 5313-64 04/02/2020 562054 · PROMOTIONS/PUBLIC RELATIONS 1,790.00

1,790.00

Check 43447 04/02/2020 PRISM MARKETING 111111 · CASH BOA -787.28

166201 · AWARDS EXPENSE 787.28

787.28

Check 43448 04/02/2020 Genie McCook 111111 · CASH BOA -23.00

199999 · Suspense - Refund Clearing 23.00

23.00

Check 43449 04/02/2020 Julia A. Clevett 111111 · CASH BOA -75.44

160002 · CHAIRMAN'S EXPENSE General 75.44

75.44

Check 43450 04/06/2020 Hearthstone Garden Club 111111 · CASH BOA -100.00


100.00

Check 43451 04/06/2020 PLANO GARDEN CLUB 111111 · CASH BOA -100.00


100.00

Check 43452 04/06/2020 Spring Lake Garden Clubs 111111 · CASH BOA -100.00


100.00

Page 3 of 21


April 2020

Check 43453 04/06/2020 CHARLESTON'S MAGNOLIA G.C. 111111 · CASH BOA -100.00


100.00

Check 43454 04/06/2020 GREENVILLE GARDEN CLUB 111111 · CASH BOA -100.00


100.00

Check 43455 04/06/2020 Westerville Garden Club 111111 · CASH BOA -100.00


100.00

Check 43456 04/06/2020 Sunset Garden Club 111111 · CASH BOA -100.00


100.00

Check 43457 04/06/2020 GRAPEVINE GARDEN CLUB 111111 · CASH BOA -100.00


100.00

Check 43458 04/06/2020 ROWAYTON GARDENERS 111111 · CASH BOA -100.00


100.00

Check 43459 04/06/2020 Palmetto Garden Club 111111 · CASH BOA -100.00


100.00

Page 4 of 21


April 2020Check 43460 04/06/2020 LAKE BLOOMERS GARDEN CLUB 111111 · CASH BOA -100.00


100.00

Check 43461 04/06/2020 Worthington Hills Garden Club 111111 · CASH BOA -100.00


100.00

Check 43462 04/06/2020 SEASONS IV GARDEN CLUB 111111 · CASH BOA -100.00


100.00

Check 43463 04/06/2020 Floralia Arrangers Guild Garden Club 111111 · CASH BOA -100.00


100.00

Check 43464 04/06/2020 Hillsdale Garden Club 111111 · CASH BOA -100.00


100.00

Check 43465 04/06/2020 McCormick Garden Club 111111 · CASH BOA -100.00


100.00

Check 43466 04/06/2020 Rutland Garden Club 111111 · CASH BOA -100.00


100.00

Check 43467 04/06/2020 HUNT GARDEN CLUB 111111 · CASH BOA -100.00

Page 5 of 21


April 2020


100.00

Check 43468 04/06/2020 BELLEVUE GARDEN CLUB 111111 · CASH BOA -100.00


100.00

Check 43469 04/06/2020 Westchester Garden Club 111111 · CASH BOA -100.00


100.00

Check 43470 04/06/2020 FOUNTAIN INN GARDEN CLUB 111111 · CASH BOA -100.00


100.00

Check 43471 04/06/2020 New Hampshire State Federation of GC 111111 · CASH BOA -100.00


100.00

Check 43472 04/06/2020 Violet Bank Garden Club 111111 · CASH BOA -100.00


100.00

Check 43473 04/06/2020 Sunset Garden Club 111111 · CASH BOA -100.00


100.00


Page 6 of 21


April 2020166201 · AWARDS EXPENSE 100.00

100.00

Check 43475 04/06/2020 Shepherd of the Hills Garden Club 111111 · CASH BOA -100.00


100.00

Check 43476 04/06/2020 Hernando Civi Garden Club 111111 · CASH BOA -100.00


100.00

Check 43477 04/06/2020 SHADY OAKS GARDEN CLUB 111111 · CASH BOA -100.00


100.00

Check 43478 04/06/2020 ROME FEDERATED GARDEN CLUBS, INC. 111111 · CASH BOA -50.00


50.00

Check 43479 04/06/2020 Southern Butler County Garden Club 111111 · CASH BOA -100.00


100.00

Check 43480 04/06/2020 El Dedon Verde Garden Club 111111 · CASH BOA -50.00


50.00

Check 43481 04/07/2020 LAKE BLOOMERS GARDEN CLUB 111111 · CASH BOA -100.00


Page 7 of 21


April 2020100.00

Check 43482 04/07/2020 Burlington Garden Club 111111 · CASH BOA -100.00


100.00

Check 43483 04/07/2020 Santa Rosa Garden Club 111111 · CASH BOA -700.00


700.00

Check 43484 04/07/2020 Two Creeks Garden Club 111111 · CASH BOA -100.00


100.00



100.00

Check 43486 04/07/2020 Lake Wissota Garden Club 111111 · CASH BOA -500.00


500.00

Check 43487 04/07/2020 Iris City Garden Club 111111 · CASH BOA -125.00


125.00

Check 43488 04/07/2020 Garden Club of Rogers 111111 · CASH BOA -125.00


125.00

Page 8 of 21


April 2020

Check 43489 04/07/2020 HUNT GARDEN CLUB 111111 · CASH BOA -125.00


125.00

Check 43490 04/07/2020 East Lake Washington Dist of Garden Clubs 111111 · CASH BOA -125.00


125.00



700.00

Check 43492 04/07/2020 WEEDERS AND SEEDERS GARDEN CLUB 111111 · CASH BOA -150.00


150.00

Check 43493 04/07/2020 ROCKAWAY VALLEY GARDEN CLUB 111111 · CASH BOA -150.00


150.00

Check 43494 04/07/2020 Mason Sycamore Creek Garden Club 111111 · CASH BOA -100.00


100.00

Check 43495 04/07/2020 Garden Club of Rogers 111111 · CASH BOA -100.00


100.00

Page 9 of 21


April 2020Check 43496 04/07/2020 Emma Scott Garden Club 111111 · CASH BOA -100.00


100.00

Check 43497 04/07/2020 Lake Oroville Garden Club 111111 · CASH BOA -100.00


100.00

Check 43498 04/08/2020 Abingdon Garden Club 111111 · CASH BOA -100.00


100.00



100.00

Check 43500 04/08/2020 Emily Schnarr 111111 · CASH BOA -100.00


100.00

Check 43501 04/08/2020 Gabriela Molia 111111 · CASH BOA -1,000.00

166201 · AWARDS EXPENSE 1,000.00

1,000.00

Check 43502 04/08/2020 Zoe E. Carll 111111 · CASH BOA -100.00


100.00

Check 43503 04/08/2020 Dayton Garden Club 111111 · CASH BOA -100.00

Page 10 of 21


April 2020


100.00

Check 43504 04/08/2020 Mason Sycamore Creek Garden Club 111111 · CASH BOA -100.00


100.00

Check 43505 04/08/2020 Cheryl Obediente 111111 · CASH BOA -100.00


100.00



100.00



100.00



100.00



100.00

Check 43510 04/08/2020 Jeanie Jackson 111111 · CASH BOA -100.00

Page 11 of 21


April 2020166201 · AWARDS EXPENSE 100.00

100.00

Check 43511 04/08/2020 Ginni Donovan 111111 · CASH BOA -100.00


100.00

Check 43512 04/08/2020 Robyn Higgins 111111 · CASH BOA -100.00


100.00

Bill Pmt -Check 43513 04/09/2020 BRETSKY PROMOTIONS 111111 · CASH BOA -454.39

Bill 1616 04/08/2020 114151 · JEWELRY INVENTORY 176.50





454.39

Bill Pmt -Check 43514 04/09/2020 Plant Professor 211111 · PHE CASH -97.95

Bill 408403 04/09/2020 266301 · SUPPLIES & MISCELLANEOUS 97.95

97.95

Bill Pmt -Check 43515 04/09/2020 The Key People Company 211111 · PHE CASH -425.00

Bill 159406 04/09/2020 264161 · JANITORIAL SERVICES 425.00

425.00

Bill Pmt -Check 43516 04/09/2020 SPARKS MILLING COMPANY, LLC 511111 · WILDFLOWER CHECKING -4,742.00

Bill 997350 04/09/2020 562047 · WEB SITE 4,742.00

4,742.00

Page 12 of 21


April 2020

Bill Pmt -Check 43517 04/09/2020 The Greenbrier Hotel Corp 111119 · NGC 2023 CONVENTION CHECKING -5,000.00

Bill 2020-241 04/09/2020 142111 · PREPAID ITEMS 5,000.00

5,000.00

Check 43518 04/09/2020 Suzanne Bushnell 111111 · CASH BOA -1,200.00

163241 · REGIONAL DIRECTORS 1,200.00

1,200.00

Check 43519 04/09/2020 MISSOURI DEPARTMENT OF REVENUE 111111 · CASH BOA -974.00

126221 · STATE WITHOLDING 974.00

974.00

Bill Pmt -Check 43520 04/16/2020 Arnold Insurance Company 211111 · PHE CASH -1,158.00

Bill 78 04/16/2020 266211 · COMMERCIAL INSURANCE 1,158.00

1,158.00

Bill Pmt -Check 43521 04/16/2020 AT&T TELECONFERENCE SERVICES 211111 · PHE CASH -443.40

Bill 004-019442 04/16/2020 267311 · TELEPHONE 443.40

443.40

Bill Pmt -Check 43522 04/16/2020 Continental Western Group 211111 · PHE CASH -31.00

Bill 40005027 04/16/2020 266211 · COMMERCIAL INSURANCE 31.00

31.00

Bill Pmt -Check 43523 04/16/2020 PURITAN SPRINGS WATER 211111 · PHE CASH -1.09


1.09

Page 13 of 21


April 2020Check 43524 04/16/2020 Gail Manna 111111 · CASH BOA -1,200.00

163241 · REGIONAL DIRECTORS 1,200.00

1,200.00

Bill Pmt -Check 43525 04/14/2020 Kingery Printing Company 111111 · CASH BOA -9,894.12

Bill 186063 04/14/2020 171301 · TNG/PRINTING, PHOTOS, ETC. 9,894.12

9,894.12

Bill Pmt -Check 43526 04/14/2020 OTIS ELEVATOR COMPANY 211111 · PHE CASH -4,658.86

Bill CZ05024520 04/14/2020 264122 · BLDG. MAINT. 4,658.86

4,658.86

Bill Pmt -Check 43527 04/14/2020 SumnerOne 211111 · PHE CASH -743.90

Bill L307038021 04/14/2020 266111 · OFF. EQUIP & SERV 743.90

743.90

Bill Pmt -Check 43528 04/14/2020 TECH ELECTRONICS 211111 · PHE CASH -633.20

Bill N000018505 04/14/2020 264122 · BLDG. MAINT. 633.20

633.20

Check 43529 04/14/2020 Shawangunk Garden Club 111111 · CASH BOA -440.00

141101 · STATE GARDEN CLUB DUES 440.00

440.00

Bill Pmt -Check 43530 04/30/2020 VIP PRINTING SERVICE 111111 · CASH BOA -467.83

Bill 235285 04/30/2020 159111 · PACKAGING 290.00

Bill 235265 04/30/2020 162261 · STATIONARY 177.83

467.83

Page 14 of 21


April 2020Bill Pmt -Check 43531 04/30/2020 ACC Business 211111 · PHE CASH -812.44

Bill 201040409 04/30/2020 267311 · TELEPHONE 812.44

812.44

Bill Pmt -Check 43532 04/30/2020 AT&T 211111 · PHE CASH -300.46

Bill 314 865-3037 025 7 04/30/2020 267311 · TELEPHONE 300.46

300.46

Bill Pmt -Check 43533 04/30/2020 CLEAN THE UNIFORM COMPANY 211111 · PHE CASH -37.30


37.30

Check 43534 04/30/2020 MISSOURI DEPARTMENT OF REVENUE 111111 · CASH BOA -974.00

126221 · STATE WITHOLDING 974.00

974.00

Check 43535 04/30/2020 Gregory F.X. Daly Collector of Revenue 111111 · CASH BOA -771.24

126231 · CITY WITHOLDING 771.24

771.24

Check 43536 04/30/2020 National Capital Area Federation of GC 111111 · CASH BOA -100.00


100.00

Check 43537 04/30/2020 Alaska Federation of Garden Clubs 111111 · CASH BOA -100.00


100.00

Check 43538 04/30/2020 Rhode Island Fed. Of GCs 111111 · CASH BOA -100.00

Page 15 of 21


April 2020


100.00

Check 43539 04/30/2020 The Federated Garden Clubs of Michigan 111111 · CASH BOA -100.00


100.00

Check 43540 04/30/2020 Wyoming Federation of Garden Clubs, Inc. 111111 · CASH BOA -100.00


100.00

Check 43541 04/14/2020 USDA FOREST SERVICE 111552 · PENNY PINES -204.00

161568 · Penny Pines Exp 204.00

204.00



68.00



476.00



68.00


Page 16 of 21


April 2020161568 · Penny Pines Exp 408.00

408.00



68.00



136.00



136.00



544.00



544.00

Check 43551 04/14/2020 USDA FOREST SERVICE 111552 · PENNY PINES -2,448.00

161568 · Penny Pines Exp 2,448.00

2,448.00



Page 17 of 21


April 2020544.00



68.00



68.00



68.00

Check 43556 04/14/2020 MARYLAND DNR FOREST SERVICE 111552 · PENNY PINES -136.00


136.00

Check 43557 04/14/2020 DEPARTMENT OF CONSERVATION & RECREAT111552 · PENNY PINES -884.00


884.00



68.00



68.00

Page 18 of 21


April 2020



136.00



204.00



68.00



136.00



204.00



136.00



272.00

Page 19 of 21


April 2020Check 43567 04/27/2020 USDA FOREST SERVICE 111552 · PENNY PINES -204.00


204.00



68.00



68.00



68.00



204.00



204.00



816.00


Page 20 of 21


April 2020


68.00



136.00



68.00



68.00



68.00



68.00



68.00

Page 21 of 21

National Garden Clubs, Inc As of April 30, 2020

Type Date Num Name Memo Debit Credit Balance

111162 · FLOWER SHOW INSTR FUND 12,095.60

Total 111162 · FLOWER SHOW INSTR FUND 12,095.60

111171 · INT'L AFFIL. DIS. FUND 25,977.62

Total 111171 · INT'L AFFIL. DIS. FUND 25,977.62

111281 · Floral Design Publications Fund 150,000.00

Total 111281 · Floral Design Publications Fund 150,000.00

111301 · NATIONAL GARDEN PROJECT 62,620.32

Total 111301 · NATIONAL GARDEN PROJECT 62,620.32

111351 · PRES DISCRETIONARY FUND 561.52

Total 111351 · PRES DISCRETIONARY FUND 561.52

111381 · NATURAL DISASTER FUND 61,792.54

Total 111381 · NATURAL DISASTER FUND 61,792.54

111521 · WORLD GARDENING 4,326.37

Total 111521 · WORLD GARDENING 4,326.37

111543 · SEPT 11TH MEMORIAL FD 3,837.32

Total 111543 · SEPT 11TH MEMORIAL FD 3,837.32

111552 · PENNY PINES 24,919.99

Deposit 04/07/2020 6236-MR BETTY MCENTIRE Club- OECAN GROVE G 68.00 24,987.99

Deposit 04/07/2020 6237-MR LETHA WILSON Club- FORT COBB IMPROV 68.00 25,055.99

Deposit 04/07/2020 6238-MR MERRY LUCAS Club- VENICE AREA GC 204.00 25,259.99

Deposit 04/07/2020 6239-MR J W Club- FLORIDA FEDERATION OF GAR 1,836.00 27,095.99

Check 04/14/2020 43541 USDA FOREST SERVICE Donations rcvd from AZ Garden Clubs 204.00 26,891.99

Check 04/14/2020 43542 USDA FOREST SERVICE Donations rcvd from AZ Garden Club 68.00 26,823.99

Check 04/14/2020 43543 USDA FOREST SERVICE Donations rcvd from AZ Garden Clubs 476.00 26,347.99

Check 04/14/2020 43544 USDA FOREST SERVICE Donations rcvd from AR Garden Clubs 68.00 26,279.99

Check 04/14/2020 43545 USDA FOREST SERVICE Donations rcvd from CA Garden Clubs 408.00 25,871.99

Check 04/14/2020 43546 USDA FOREST SERVICE Donations rcvd from CA garden Clubs 68.00 25,803.99

Check 04/14/2020 43547 USDA FOREST SERVICE Donations rcvd from CO Garden Clubs 136.00 25,667.99

Check 04/14/2020 43548 USDA FOREST SERVICE Donations rcvd from CO Garden Clubs 136.00 25,531.99

Check 04/14/2020 43549 USDA FOREST SERVICE Donations rcvd from Connecticut Garden Clubs 544.00 24,987.99

Check 04/14/2020 43550 USDA FOREST SERVICE Donations rcvd from Connecticut Garden Clubs 544.00 24,443.99

Check 04/14/2020 43551 USDA FOREST SERVICE Donations rcvd from FL Garden Clubs 2,448.00 21,995.99

Check 04/14/2020 43552 USDA FOREST SERVICE Donations rcvd from GA Garden Clubs 544.00 21,451.99

Check 04/14/2020 43553 USDA FOREST SERVICE Donations rcvd from GA Garden Clubs 68.00 21,383.99

Check 04/14/2020 43554 USDA FOREST SERVICE Donations rcvd from ID garden Club 68.00 21,315.99

Check 04/14/2020 43555 USDA FOREST SERVICE Donations rcvd from LA Garden Clubs 68.00 21,247.99

Check 04/14/2020 43556 MARYLAND DNR FOREST SERVICE Donations rcvd from Maryland Garden Club 136.00 21,111.99

Check 04/14/2020 43557 DEPARTMENT OF CONSERVATION & RECREADonations rcvd from MA garden Clubs 884.00 20,227.99

Check 04/14/2020 43558 USDA FOREST SERVICE Donations rcvd from MI Garden Club 68.00 20,159.99

Page 1 of 3



Check 04/14/2020 43559 USDA FOREST SERVICE Donations rcvd from MI Garden Club 68.00 20,091.99

Check 04/14/2020 43560 USDA FOREST SERVICE Donation rcvd from MT Garden Clubs 136.00 19,955.99

Check 04/14/2020 43561 USDA FOREST SERVICE Donations rcvd from MT Garden Club 204.00 19,751.99

Deposit 04/14/2020 6254-MR DOROTHY HANEY Club- PICKAWAY COUN 68.00 19,819.99

Deposit 04/14/2020 6255-MR BETH COOL Club- JEFFERSON GARDEN C 68.00 19,887.99

Deposit 04/14/2020 6256-MR ROSEMARY CARTER Club- ART OF GARD 68.00 19,955.99

Deposit 04/14/2020 6257-MR SOPHIA MONTGOMERY Club- JOPPATOW 68.00 20,023.99

Deposit 04/14/2020 6258-MR J W Club- FLORIDA FEDERATION OF GAR 2,448.00 22,471.99

Deposit 04/14/2020 6259-MR JOHANNA GILLSERT Club- WESTHAM GC 68.00 22,539.99

Deposit 04/14/2020 6260-MR DEBORA AKERS Club- EUMCLAW GARDEN 816.00 23,355.99

Deposit 04/14/2020 6261-MR JUDITH RACH Club- SOMERSET GARDEN 68.00 23,423.99

General Journal 04/14/2020 3018-WF CAROLYN MCNABE Club- OKLAHOMA GARDEN CLU 68.00 23,491.99

Deposit 04/21/2020 6269-MR JANICE MEISSNER Club- TENNESSEE FED 136.00 23,627.99

Deposit 04/21/2020 6270-MR A W Club- GARDEN CLUB FEDERATION O 204.00 23,831.99

Deposit 04/21/2020 6271-MR BABETTE WERNER Club- LAFAYETTE GC 68.00 23,899.99

Deposit 04/21/2020 6272-MR BARBARA OHMSEN Club- GREEN MEADO 136.00 24,035.99

Check 04/27/2020 43562 USDA FOREST SERVICE Donations rcvd from Montana Garden Club 68.00 23,967.99

Check 04/27/2020 43563 USDA FOREST SERVICE Donation rcvd from NCA Garden Clubs 136.00 23,831.99

Check 04/27/2020 43564 USDA FOREST SERVICE Donations rcvd from Oklahoma Garden Clubs 204.00 23,627.99

Check 04/27/2020 43565 USDA FOREST SERVICE Donation rcvd from Oregon Garden Clubs 136.00 23,491.99

Check 04/27/2020 43566 USDA FOREST SERVICE Donations rcvd from Oregon Garden Clubs 272.00 23,219.99



Check 04/27/2020 43569 USDA FOREST SERVICE Donations rcvd from Oregon Garden Club 68.00 22,879.99


Check 04/27/2020 43571 USDA FOREST SERVICE Donation rcvd from TN Garden Clubs 204.00 22,607.99

Check 04/27/2020 43572 USDA FOREST SERVICE Donations rcvd from TN Garden Clubs 204.00 22,403.99

Check 04/27/2020 43573 USDA FOREST SERVICE Donations cvd from Virginia Garden Clubs 816.00 21,587.99

Check 04/27/2020 43574 USDA FOREST SERVICE Donation rcvd from Vermont Garden Club 68.00 21,519.99

Check 04/27/2020 43575 USDA FOREST SERVICE Donations rcvd fron Washington Garden Clubs 136.00 21,383.99

Check 04/27/2020 43576 USDA FOREST SERVICE Donation rcvd from Washington Garden Club 68.00 21,315.99

Check 04/27/2020 43577 USDA FOREST SERVICE Donation rcvd from Washington Garden Club 68.00 21,247.99

Check 04/27/2020 43578 USDA FOREST SERVICE Donation rcvd from West Virginia Garden Club 68.00 21,179.99

Check 04/27/2020 43579 USDA FOREST SERVICE Donation rcvd from Wyoming Garden Club 68.00 21,111.99

Check 04/27/2020 43580 USDA FOREST SERVICE Donation rcvd from WYoming Garden Club 68.00 21,043.99

Deposit 04/28/2020 6277-MR NANCY SNELL Club- ROCK SPRING GARD 68.00 21,111.99

Deposit 04/28/2020 6278-MR JUDY TWEEL Club- HAYMARKET TOWN & 136.00 21,247.99

Deposit 04/28/2020 6279-MR ROBIN BOSMAJIAN Club- WOMAN'S CLUB 136.00 21,383.99

Deposit 04/28/2020 6280-MR JANA WALLING Club- FLORIDA FEDERATI 2,788.00 24,171.99

Page 2 of 3



Deposit 04/28/2020 6281-MR JANA WALLING Club- FLORIDA FEDERATI 1,564.00 25,735.99

Total 111552 · PENNY PINES 11,152.00 10,336.00 25,735.99

111554 · Running Water Project 1,160.00

Total 111554 · Running Water Project 1,160.00

111801 · International Flower Show Fund 50,263.59

Total 111801 · International Flower Show Fund 50,263.59

111923 · Plant America - Restricted Fund -10,224.87

General Journal 04/13/2020 3016-WF TYRA MCNEIL Club- NA NY Inv# - 608 0.00 -10,224.87

General Journal 04/13/2020 3017-WF SD SDSD Club- NA NA Inv# - 609 0.00 -10,224.87

Deposit 04/14/2020 6262-MR BOBBIE VERSER Club- ARKANSAS FEDER 195.00 -10,029.87

General Journal 04/17/2020 3019-WF DAVID ROBSON Club- NA IL Inv# - 611 100.00 -9,929.87




General Journal 04/20/2020 3023-WF HHG GH Club- NA NA Inv# - 615 0.00 -9,829.87


General Journal 04/27/2020 3026-WF DAVID ROBSON Club- SCGC IL Inv# - 617 100.00 -9,729.87

Total 111923 · Plant America - Restricted Fund 495.00 0.00 -9,729.87

111924 · Plant America - Endowment Fund 408,019.65

Total 111924 · Plant America - Endowment Fund 408,019.65

221111 · JK Ground Improvement 2016-2017 1,153.60

Total 221111 · JK Ground Improvement 2016-2017 1,153.60

Page 3 of 3

Monthly Performance Report

Period Ending April 30, 2020

NATIONAL GARDEN CLUBS INCWILDFLOWER FUND

PREPARED FOR

For institutional use only. Not for distribution to retail investors.

Market Value($)

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC WILDFLOWER FUND 4,276,769 8.06 -7.01 -6.91 0.02 4.91 4.74 6.88 6.39 Dec-03NATIONAL GARDEN CLUBS INC WILDFLOWER FUND (Net) 8.02 -7.05 -6.98 -0.15 4.72 4.56 6.69 6.17

Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 6.97 6.47 Dec-03XXXXX

- Composite Benchmark = 12% Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Hedged / 28% Spliced Bloomberg Barclays US Aggregate Float Adjusted Index / 24% Spliced TotalInternational Stock Index / 36% Spliced Total Stock Market Index

Current % Policy Difference*_

US Equity $1,656,994 38.7% 36.0% 2.7%Non-US Equity $1,038,692 24.3% 24.0% 0.3%US Fixed Income $1,114,718 26.1% 28.0% -1.9%Non-US Fixed Income $466,366 10.9% 12.0% -1.1%Total $4,276,769 100.0% 100.0%

XXXXX

*Difference between Policy and Current Allocation

Returns greater than one year represent annualized returns. Returns less than one year represent cumulative returns.

Gross of Advisory Fee returns reflect the deduction of fund expense ratios and any purchase or redemption fees.

1

Total Portfolio Performance & Asset AllocationPerformance Summary ending April 30, 2020

Current Allocation as of April 30, 2020

Current $ Current % Policy Difference*

Net of Fee returns reflect the deduction of fund expense ratios, any purchase or redemption fees, and VIAS advisory fee applied to the client portfolio.

NATIONAL GARDEN CLUBS INC WILDFLOWER FUND


Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC WILDFLOWER FUND 4,276,769 100.00 8.06 -7.01 -6.91 0.02 4.91 4.74 6.88 6.39 Dec-03NATIONAL GARDEN CLUBS INC WILDFLOWER FUND (Net) 8.02 -7.05 -6.98 -0.15 4.72 4.56 6.69 6.17

Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 6.97 6.47 Dec-03

Total Equity 2,695,686 63.03 11.78 -12.32 -13.33 -5.74 4.63 4.85 8.39 6.87 Dec-03

Equity Domestic 1,656,994 38.74 14.27 -10.24 -10.06 -1.32 8.20 8.10 11.28 8.45 May-04Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.52 May-04

Equity International 1,038,692 24.29 8.03 -15.42 -18.23 -12.29 -0.73 -0.12 -- 1.74 Feb-11Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 1.87 Feb-11

Total Fixed Income 1,581,083 36.97 2.27 1.21 3.39 8.87 4.89 3.81 4.15 4.47 Dec-03

Fixed Income Domestic 1,114,718 26.06 2.57 1.84 4.11 9.97 4.95 3.79 4.07 4.29 Jun-04Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 4.54 Jun-04

Fixed Income International 466,366 10.90 1.54 -0.28 1.69 6.31 4.74 3.82 -- 4.50 Sep-13Bloomberg Barclays Global Aggregate ex-USD FloatAdjusted RIC Capped Hedged 1.52 -0.19 1.74 6.52 4.95 4.06 -- 4.74 Sep-13

XXXXX

Performance Summary (Gross of Advisory Fees) ending April 30, 2020


Returns greater than one year represent annualized returns. Returns less than one year represent cumulative returns.Net of Fee returns reflect the deduction of fund expense ratios, any purchase or redemption fees, and VIAS advisory fee applied to the client portfolio.

2



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC WILDFLOWER FUND 4,276,769 100.00 8.06 -7.01 -6.91 0.02 4.91 4.74 6.88 6.39 Dec-03Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 6.97 6.47 Dec-03

Total Equity 2,695,686 63.03 11.78 -12.32 -13.33 -5.74 4.63 4.85 8.39 6.87 Dec-03


Vanguard® Total Stock Market Indx Fund Admiral™Shares 822,993 19.24 13.26 -10.31 -10.38 -1.13 8.01 8.31 11.29 8.51 May-04

Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.52 May-04Multi-Cap Core Funds Average 12.64 -11.76 -12.40 -4.74 4.83 5.26 8.73 6.64 May-04

Vanguard® U.S. Growth Fund Admiral™ Shares 306,271 7.16 17.09 -1.31 3.06 12.99 17.61 13.54 14.42 10.23 Jun-05Russell 1000 Growth 14.80 -3.54 -1.39 10.84 15.69 13.34 14.41 10.65 Jun-05Large-Cap Growth Funds Average 14.38 -3.69 -1.43 8.24 14.51 11.70 12.59 9.09 Jun-05

Vanguard® Windsor™ II Fund Admiral™ Shares 283,644 6.63 12.84 -13.69 -15.01 -6.12 3.72 4.90 8.89 6.48 Jun-05Russell 1000 Value 11.24 -16.70 -18.49 -11.01 1.42 3.90 8.54 6.12 Jun-05Large-Cap Value Funds Average 11.31 -16.15 -18.59 -11.33 1.51 3.36 7.64 5.42 Jun-05

Vanguard® Explorer™ Fund Admiral™ Shares 124,884 2.92 16.69 -13.06 -14.49 -8.11 7.73 6.81 10.84 7.91 Dec-05Russell 2500 Growth 16.03 -11.01 -10.91 -4.03 7.97 7.22 11.37 8.85 Dec-05Small-Cap Growth Funds Average 15.70 -11.99 -11.91 -7.08 7.37 6.72 9.92 7.20 Dec-05

Vanguard® Strategic Equity Fund 119,203 2.79 15.16 -20.02 -21.62 -16.72 -1.45 2.20 9.31 7.16 May-04Spliced Small and Mid-Cap Index 14.53 -17.00 -18.13 -12.43 2.29 4.35 9.45 8.44 May-04Mid-Cap Core Funds Average 13.10 -18.05 -19.58 -13.67 0.14 2.33 7.50 6.74 May-04


Vanguard® Total International Stock Index Fund Adm™Shares 1,038,692 24.29 8.03 -15.42 -18.23 -12.29 -0.74 -0.12 3.03 1.74 Feb-11

Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 1.87 Feb-11International Funds Average 7.96 -14.93 -17.17 -10.77 -0.62 -0.11 3.29 2.00 Feb-11


3



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_


Fixed Income Domestic 1,114,718 26.06 2.57 1.84 4.11 9.97 4.95 3.79 4.07 4.29 Jun-04Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 4.54 Jun-04

Vanguard® Total Bond Market Index Fund Admiral™Shares 558,566 13.06 1.70 2.85 5.03 10.86 5.15 3.75 3.90 4.24 May-09

Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 4.35 May-09

Spliced Intermediate-Term Investment-Grade DebtFunds Average 2.50 1.01 2.92 8.27 4.19 3.16 3.72 4.51 May-09

Vanguard® Short-Term Investment-Grade Fund Adm™Shares 245,188 5.73 2.41 -0.01 0.87 4.12 2.84 2.48 2.58 3.31 Jun-04

BBgBarc US Credit 1-5 Yr TR 2.41 0.27 1.16 4.95 3.24 2.68 2.92 3.67 Jun-041-5 Year Investment-Grade Debt Funds Average 1.86 -0.92 -0.21 2.33 2.01 1.70 1.89 2.32 Jun-04

Vanguard® Inter-Term Investment-Grade Fund Adm ™Shares 166,833 3.90 3.48 0.93 2.98 9.03 4.89 4.05 4.89 5.21 Jun-04

BBgBarc US Credit 5-10 Yr TR 4.87 -1.33 0.81 8.44 5.13 4.28 5.39 5.61 Jun-04Spliced Core Bond Funds Average 2.50 1.01 2.92 8.27 4.19 3.16 3.72 3.94 Jun-04

Vanguard® Long-Term Investment-Grade Admiral Shares 144,131 3.37 5.28 2.19 7.45 21.14 9.93 7.46 8.34 17.13 May-19BBgBarc US Credit Long A+ TR 5.88 1.62 6.19 19.91 9.29 7.04 7.90 16.20 May-19Corporate A-Rated Debt Funds Average 3.70 0.11 2.76 9.78 5.06 3.90 4.38 7.68 May-19


Vanguard® Total International Bond Index Fund Adm™Shares 466,366 10.90 1.54 -0.28 1.69 6.31 4.74 3.82 -- 4.50 Sep-13

Bloomberg Barclays Global Aggregate ex-USD FloatAdjusted RIC Capped Hedged 1.52 -0.19 1.74 6.52 4.95 4.06 -- 4.74 Sep-13

International Income Funds Average 2.22 -4.55 -3.93 -0.63 1.49 1.26 1.92 1.04 Sep-13XXXXX


4



Total Portfolio Performance


Gross of Advisory Fee returns reflect the deduction of fund expense ratios and any purchase or redemption fees.Net of Fee returns reflect the deduction of fund expense ratios, any purchase or redemption fees, and VIAS advisory fee applied to the client portfolio.

5



Month Ending April 30, 2020

BeginningMarket Value Net Cash Flow Capital

Appreciation Income EndingMarket Value

Vanguard® Explorer™ Fund Admiral™ Shares $107,020 $0 $17,864 $0 $124,884

Vanguard® Inter-Term Investment-Grade Fund Adm ™ Shares $161,225 $0 $5,227 $380 $166,833

Vanguard® Long-Term Investment-Grade Admiral Shares $136,897 $0 $6,839 $395 $144,131

Vanguard® Short-Term Investment-Grade Fund Adm™ Shares $241,157 -$1,770 $5,279 $522 $245,188

Vanguard® Strategic Equity Fund $103,512 $0 $15,691 $0 $119,203

Vanguard® Total Bond Market Index Fund Admiral™ Shares $549,218 $0 $8,233 $1,115 $558,566

Vanguard® Total International Bond Index Fund Adm™ Shares $459,293 $0 $6,706 $366 $466,366

Vanguard® Total International Stock Index Fund Adm™ Shares $961,515 $0 $77,177 $0 $1,038,692

Vanguard® Total Stock Market Indx Fund Admiral™ Shares $726,647 $0 $96,346 $0 $822,993

Vanguard® U.S. Growth Fund Admiral™ Shares $261,565 $0 $44,706 $0 $306,271

Vanguard® Windsor™ II Fund Admiral™ Shares $251,410 $0 $32,233 $0 $283,644

Total $3,959,460 -$1,770 $316,302 $2,778 $4,276,769

6

Cash Flow Summary


Last Month Last ThreeMonths Year-To-Date One Year

_

Beginning Market Value $3,959,460 $4,586,872 $4,583,604 $4,478,037Net Cash Flow -$1,770 -$1,770 -$3,808 -$212,446Capital Appreciation $316,302 -$323,014 -$321,006 -$95,867Income $2,778 $14,681 $17,978 $107,045Ending Market Value $4,276,769 $4,276,769 $4,276,769 $4,276,769

_


Name Market Value % of Portfolio Expense Ratio

Total Equity $2,695,686 63.0%

Equity Domestic $1,656,994 38.7%

Vanguard® Total Stock Market Indx Fund Admiral™ Shares $822,993 19.2% 0.040%

Vanguard® Windsor™ II Fund Admiral™ Shares $283,644 6.6% 0.250%

Vanguard® Explorer™ Fund Admiral™ Shares $124,884 2.9% 0.340%

Vanguard® U.S. Growth Fund Admiral™ Shares $306,271 7.2% 0.280%

Vanguard® Strategic Equity Fund $119,203 2.8% 0.170%

Equity International $1,038,692 24.3%

Vanguard® Total International Stock Index Fund Adm™ Shares $1,038,692 24.3% 0.110%

Total Fixed Income $1,581,083 37.0%

Fixed Income Domestic $1,114,718 26.1%

Vanguard® Short-Term Investment-Grade Fund Adm™ Shares $245,188 5.7% 0.100%

Vanguard® Total Bond Market Index Fund Admiral™ Shares $558,566 13.1% 0.050%

Vanguard® Inter-Term Investment-Grade Fund Adm ™ Shares $166,833 3.9% 0.100%

Vanguard® Long-Term Investment-Grade Admiral Shares $144,131 3.4% 0.120%

Fixed Income International $466,366 10.9%

Vanguard® Total International Bond Index Fund Adm™ Shares $466,366 10.9% 0.110%

Total $4,276,769 100.0% 0.118%XXXXX

Investment Expense Analysis as of April 30, 2020

7



Name Apr-20 Last 3 Months YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs_

US EquityCRSP US Total Market TR USD 13.3 -10.3 -10.4 -1.1 8.0 8.3 11.3S&P 500 12.8 -9.3 -9.3 0.9 9.0 9.1 11.7S&P 400 MidCap 14.2 -17.6 -19.7 -14.9 0.0 3.6 8.9S&P 600 SmallCap 12.7 -20.9 -24.1 -19.6 -1.8 3.4 8.7

International EquityMSCI Emerging Markets 9.2 -12.5 -16.6 -12.0 0.6 -0.1 1.4MSCI Emerging Markets NR LCL 8.8 -8.9 -11.9 -7.7 3.4 2.6 4.6MSCI EAFE 6.5 -16.1 -17.8 -11.3 -0.6 -0.2 3.5MSCI EAFE NR LCL 5.4 -15.2 -16.2 -10.8 -0.5 0.7 5.0MSCI ACWI ex USA 7.6 -15.3 -17.5 -11.5 -0.3 -0.2 2.9

Fixed Income DomesticBBgBarc US Aggregate TR 1.8 3.0 5.0 10.8 5.2 3.8 4.0BBgBarc US Corporate 1-5 Years TR 3.0 -0.2 0.7 4.6 3.2 2.8 3.1BBgBarc US Credit/Corp 5-10 Yr TR 5.3 -1.4 0.8 8.5 5.2 4.4 5.5BBgBarc US Corporate Long TR 7.4 -1.3 2.6 16.9 8.7 6.7 7.7BBgBarc US Govt/Credit Long TR 4.5 5.5 11.0 25.2 10.7 7.5 8.2BBgBarc US Treasury Strips 20-30 Yr Equal Parity TR 2.0 20.5 31.8 53.5 18.4 11.0 12.7BBgBarc US High Yield TR 4.5 -8.8 -8.8 -4.1 1.9 3.4 5.9BBgBarc US Govt TR 0.6 6.2 8.8 14.1 5.8 3.9 3.7BBgBarc US Credit TR 4.6 -1.0 1.3 9.4 5.4 4.3 5.0BBgBarc US Treasury 1-5 Yr TR 0.2 3.1 4.0 6.9 3.2 2.3 2.0BBgBarc US Treasury 5-10 Yr TR 0.5 6.4 9.2 14.8 6.0 4.2 4.6BBgBarc US Treasury Long TR 2.0 15.4 23.4 37.8 13.6 8.4 8.9BBgBarc US Treasury TIPS 0-5 Yr TR 1.2 0.1 0.5 3.2 2.0 1.7 1.5BBgBarc US TIPS TR 2.8 2.4 4.5 9.5 4.2 3.1 3.5

Fixed Income InternationalBBgBarc Global Aggregate ex US Tres Hedged TR 1.4 0.2 1.9 6.5 4.8 4.0 4.3BBgBarc Emerging Markets TR 2.6 -8.5 -7.1 -0.8 2.0 3.4 5.2

REITMSCI US REIT Gross 8.2 -21.9 -21.0 -14.3 -0.5 2.4 7.5

XXXXX

Market Performance as of April 30, 2020

8



_


6/1/2015 Present 12% Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Hedged / 28% Spliced Bloomberg Barclays US Aggregate Float AdjustedIndex / 24% Spliced Total International Stock Index / 36% Spliced Total Stock Market Index

10/1/2013 5/31/2015 8% Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Hedged / 32% Spliced Bloomberg Barclays US Aggregate Float AdjustedIndex / 18% Spliced Total International Stock Index / 42% Spliced Total Stock Market Index

6/1/2011 9/30/2013 40% Spliced Bloomberg Barclays US Aggregate Float Adjusted Index / 18% Spliced Total International Stock Index / 42% Spliced Total Stock MarketIndex



Total Equity

N/A

Equity Domestic

7/1/2013 Present 100% CRSP US Total Market TR USD

5/1/2005 6/30/2013 100% MSCI US Broad Market

5/31/2004 4/30/2005 100% Dow Jones Wilshire 5000 Index

Vanguard® Total Stock Market Indx Fund Admiral™ Shares




Vanguard® Windsor™ II Fund Admiral™ Shares

6/30/2005 Present Russell 1000 Value

Vanguard® Explorer™ Fund Admiral™ Shares

12/31/2005 Present Russell 2500 Growth

Vanguard® U.S. Growth Fund Admiral™ Shares


Vanguard® Strategic Equity Fund

5/31/2004 Present 100% MSCI US Small + Mid-Cap 2200 Index

Benchmark History as of April 30, 2020

9



_

Equity International

6/3/2013 Present 100% FTSE Global All-Cap ex-US Index

2/28/2011 6/2/2013 100% MSCI ACWI ex-USA IMI Index Net

Vanguard® Total International Stock Index Fund Adm™ Shares



Total Fixed Income

N/A

Fixed Income Domestic

1/1/2010 Present 100% BBgBarc US Aggregate Float Adjusted TR

6/30/2004 12/31/2009 100% BBgBarc US Aggregate TR

Vanguard® Short-Term Investment-Grade Fund Adm™ Shares

6/30/2004 Present BBgBarc US Credit 1-5 Yr TR

Vanguard® Total Bond Market Index Fund Admiral™ Shares



Vanguard® Inter-Term Investment-Grade Fund Adm ™ Shares


Vanguard® Long-Term Investment-Grade Admiral Shares

5/31/2019 Present BBgBarc US Credit Long A+ TR

Fixed Income International

9/30/2013 Present Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Hedged

Vanguard® Total International Bond Index Fund Adm™ Shares

9/30/2013 Present Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped HedgedXXXXX


10



Legal

For more information about Vanguard funds or non-Vanguard funds offered through Vanguard Brokerage Services, visit vanguard.com or call your Investment Consultant or Relationship Manager to obtain aprospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing.Total Portfolio Net of Fees returns reflect the deduction of fund expense ratios, purchase or redemption fees, and any advisory service fee applied to the client portfolio.

Total Portfolio returns represent client-specific time-weighted returns (TWR) are presented gross of any applicable service fees with the exception of mutual fund expense ratios and other security-level expenses.

Internal rates of return (IRR) are net of any applicable service fees, include account-specific cash flows, and are not directly comparable to a benchmark, since benchmarks do not include cash flows.

Client performance inception date is generally the first month-end after initial funding. Mutual funds and all investments are subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit orprotect against a loss.

Performance figures assume the reinvestment of dividends and capital gains distributions. The fund performance percentages are based on fund total return data, adjusted for expenses, obtained from Lipper, a Thomson ReutersCompany. The total return data was not adjusted for fees and loads.

Benchmark comparative indexes represent unmanaged or average returns on various financial assets, which can be compared with funds' total returns for the purpose of measuring relative performance.

The index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Vanguard. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); DowJones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); S&P® and S&P 500® are trademarks of S&P; and these trademarks have been licensed for use by SPDJI and sublicensed for certainpurposes by Vanguard. Vanguard product(s) are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability ofinvesting in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the index

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© 2020 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor of the Vanguard Funds. Advice offered through Vanguard Institutional Advisory Services (VIAS) are provided by Vanguard Advisors,Inc., a registered investment advisor.



NATIONAL GARDEN CLUBS INCPERMANENT HOME & ENDOWMENTFUND

PREPARED FOR


Market Value($)

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC PERMANENT HOME &ENDOWMENT FUND 6,792,873 8.06 -7.02 -6.93 -0.04 4.89 4.73 6.94 6.35 Dec-03

NATIONAL GARDEN CLUBS INC PERMANENT HOME &ENDOWMENT FUND (Net) 8.02 -7.05 -7.01 -0.21 4.71 4.56 6.74 6.15





XXXXX




1





NATIONAL GARDEN CLUBS INC PERMANENT HOME & ENDOWMENT FUND


Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC PERMANENT HOME &ENDOWMENT FUND 6,792,873 100.00 8.06 -7.02 -6.93 -0.04 4.89 4.73 6.94 6.35 Dec-03

NATIONAL GARDEN CLUBS INC PERMANENT HOME &ENDOWMENT FUND (Net) 8.02 -7.05 -7.01 -0.21 4.71 4.56 6.74 6.15


Total Equity 4,281,071 63.02 11.78 -12.33 -13.36 -5.81 4.61 4.84 8.42 6.91 Dec-03




Fixed Income Domestic 1,770,906 26.07 2.57 1.84 4.11 9.97 4.94 3.79 4.06 4.27 May-04Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 4.56 May-04


XXXXX




2



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC PERMANENT HOME &ENDOWMENT FUND 6,792,873 100.00 8.06 -7.02 -6.93 -0.04 4.89 4.73 6.94 6.35 Dec-03


Total Equity 4,281,071 63.02 11.78 -12.33 -13.36 -5.81 4.61 4.84 8.42 6.91 Dec-03


Vanguard® Total Stock Market Indx Fund Admiral™Shares 1,305,504 19.22 13.26 -10.31 -10.38 -1.13 8.01 8.31 11.29 8.51 May-04


Vanguard® U.S. Growth Fund Admiral™ Shares 485,858 7.15 17.09 -1.31 3.06 12.99 17.61 13.54 14.42 9.81 May-04Russell 1000 Growth 14.80 -3.54 -1.39 10.84 15.69 13.34 14.41 10.09 May-04Large-Cap Growth Funds Average 14.38 -3.69 -1.43 8.24 14.51 11.70 12.59 8.73 May-04

Vanguard® Windsor™ II Fund Admiral™ Shares 449,954 6.62 12.84 -13.69 -15.01 -6.12 3.72 4.90 8.89 7.07 May-04Russell 1000 Value 11.24 -16.70 -18.49 -11.01 1.42 3.90 8.54 6.72 May-04Large-Cap Value Funds Average 11.31 -16.15 -18.59 -11.33 1.51 3.36 7.64 5.73 May-04

Vanguard® Explorer™ Fund Admiral™ Shares 198,200 2.92 16.69 -13.06 -14.49 -8.11 7.73 6.81 10.84 8.25 Jun-05Russell 2500 Growth 16.03 -11.01 -10.91 -4.03 7.97 7.22 11.37 9.19 Jun-05Small-Cap Growth Funds Average 15.70 -11.99 -11.91 -7.08 7.37 6.72 9.92 7.48 Jun-05






3



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_


Fixed Income Domestic 1,770,906 26.07 2.57 1.84 4.11 9.97 4.94 3.79 4.06 4.27 May-04Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 4.56 May-04




Vanguard® Short-Term Investment-Grade Fund Adm™Shares 389,519 5.73 2.41 -0.01 0.87 4.12 2.84 2.48 2.58 3.30 May-04

BBgBarc US Credit 1-5 Yr TR 2.41 0.27 1.16 4.95 3.24 2.68 2.92 3.66 May-041-5 Year Investment-Grade Debt Funds Average 1.86 -0.92 -0.21 2.33 2.01 1.70 1.89 2.32 May-04

Vanguard® Inter-Term Investment-Grade Fund Adm ™Shares 265,040 3.90 3.48 0.93 2.98 9.03 4.89 4.05 4.89 5.22 May-04

BBgBarc US Credit 5-10 Yr TR 4.87 -1.33 0.81 8.44 5.13 4.28 5.39 5.61 May-04Spliced Core Bond Funds Average 2.50 1.01 2.92 8.27 4.19 3.16 3.72 3.94 May-04







4






5













Vanguard® Total International Stock Index Fund Adm™ Shares $1,529,381 $0 $122,757 $0 $1,652,139

Vanguard® Total Stock Market Indx Fund Admiral™ Shares $1,152,671 $0 $152,832 $0 $1,305,504



Total $6,289,055 -$2,812 $502,216 $4,413 $6,792,873

6

Cash Flow Summary



_


_



Total Equity $4,281,071 63.0%




Vanguard® Total Stock Market Indx Fund Admiral™ Shares $1,305,504 19.2% 0.040%













Total $6,792,873 100.0% 0.118%XXXXX


7









XXXXX


8



_







Total Equity

N/A

Equity Domestic

















9



_







Total Fixed Income

N/A


















10



Legal

















NATIONAL GARDEN CLUBS INCSCHOLARSHIP FUND

PREPARED FOR


Market Value($)

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC SCHOLARSHIP FUND 4,637,053 8.06 -7.01 -6.91 0.01 4.89 4.73 6.85 6.42 Dec-03NATIONAL GARDEN CLUBS INC SCHOLARSHIP FUND (Net) 8.02 -7.05 -6.99 -0.16 4.71 4.55 6.66 6.22





XXXXX




1





NATIONAL GARDEN CLUBS INC SCHOLARSHIP FUND


Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC SCHOLARSHIP FUND 4,637,053 100.00 8.06 -7.01 -6.91 0.01 4.89 4.73 6.85 6.42 Dec-03NATIONAL GARDEN CLUBS INC SCHOLARSHIP FUND(Net) 8.02 -7.05 -6.99 -0.16 4.71 4.55 6.66 6.22


Total Equity 2,922,692 63.03 11.78 -12.33 -13.33 -5.76 4.62 4.85 8.44 6.91 Dec-03

Equity Domestic 1,796,192 38.74 14.27 -10.25 -10.06 -1.33 8.19 8.10 11.28 8.33 Dec-03Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.42 Dec-03

Equity International 1,126,500 24.29 8.03 -15.42 -18.23 -12.29 -0.73 -0.12 3.04 4.66 May-04Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 4.76 May-04


Fixed Income Domestic 1,208,682 26.07 2.57 1.84 4.11 9.97 4.94 3.79 4.04 4.41 Dec-03Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 4.41 Dec-03


XXXXX




2



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC SCHOLARSHIP FUND 4,637,053 100.00 8.06 -7.01 -6.91 0.01 4.89 4.73 6.85 6.42 Dec-03Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 6.97 6.47 Dec-03

Total Equity 2,922,692 63.03 11.78 -12.33 -13.33 -5.76 4.62 4.85 8.44 6.91 Dec-03

Equity Domestic 1,796,192 38.74 14.27 -10.25 -10.06 -1.33 8.19 8.10 11.28 8.33 Dec-03Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.42 Dec-03

Vanguard® Total Stock Market Indx Fund Admiral™Shares 892,081 19.24 13.26 -10.31 -10.38 -1.13 8.01 8.31 11.29 8.51 May-04


Vanguard® U.S. Growth Fund Admiral™ Shares 331,985 7.16 17.09 -1.31 3.06 12.99 17.61 13.54 14.42 10.15 Jan-05Russell 1000 Growth 14.80 -3.54 -1.39 10.84 15.69 13.34 14.41 10.46 Jan-05Large-Cap Growth Funds Average 14.38 -3.69 -1.43 8.24 14.51 11.70 12.59 8.95 Jan-05

Vanguard® Windsor™ II Fund Admiral™ Shares 307,456 6.63 12.84 -13.69 -15.01 -6.12 3.72 4.90 8.89 6.60 Jan-05Russell 1000 Value 11.24 -16.70 -18.49 -11.01 1.42 3.90 8.54 6.19 Jan-05Large-Cap Value Funds Average 11.31 -16.15 -18.59 -11.33 1.51 3.36 7.64 5.42 Jan-05

Vanguard® Explorer™ Fund Admiral™ Shares 135,382 2.92 16.69 -13.06 -14.49 -8.11 7.73 6.81 10.84 8.25 Jun-05Russell 2500 Growth 16.03 -11.01 -10.91 -4.03 7.97 7.22 11.37 9.19 Jun-05Small-Cap Growth Funds Average 15.70 -11.99 -11.91 -7.08 7.37 6.72 9.92 7.48 Jun-05


Equity International 1,126,500 24.29 8.03 -15.42 -18.23 -12.29 -0.73 -0.12 3.04 4.66 May-04Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 4.76 May-04




3



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_


Fixed Income Domestic 1,208,682 26.07 2.57 1.84 4.11 9.97 4.94 3.79 4.04 4.41 Dec-03Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 4.41 Dec-03




Vanguard® Short-Term Investment-Grade Fund Adm™Shares 265,855 5.73 2.41 -0.01 0.87 4.12 2.84 2.48 2.58 3.30 May-04

BBgBarc US Credit 1-5 Yr TR 2.41 0.27 1.16 4.95 3.24 2.68 2.92 3.66 May-041-5 Year Investment-Grade Debt Funds Average 1.86 -0.92 -0.21 2.33 2.01 1.70 1.89 2.32 May-04

Vanguard® Inter-Term Investment-Grade Fund Adm ™Shares 180,896 3.90 3.48 0.93 2.98 9.03 4.89 4.05 4.89 5.22 May-04

BBgBarc US Credit 5-10 Yr TR 4.87 -1.33 0.81 8.44 5.13 4.28 5.39 5.61 May-04Spliced Core Bond Funds Average 2.50 1.01 2.92 8.27 4.19 3.16 3.72 3.94 May-04







4






5













Vanguard® Total International Stock Index Fund Adm™ Shares $1,042,799 $0 $83,701 $0 $1,126,500




Total $4,293,037 -$1,920 $342,924 $3,012 $4,637,053

6

Cash Flow Summary



_


_



Total Equity $2,922,692 63.0%

















Total $4,637,053 100.0% 0.118%XXXXX


7









XXXXX


8



_







Total Equity

N/A

Equity Domestic

















9



_




9/1/2006 12/15/2010 100% MSCI EAFE + Emerging Markets Gross

5/31/2004 8/31/2006 100% Total International Composite Index




Total Fixed Income

N/A


















10



Legal

















NATIONAL GARDEN CLUBS INCENDOWMENT FUND

PREPARED FOR


Market Value($)

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC ENDOWMENT FUND 361,872 8.06 -7.02 -6.93 -0.04 4.89 4.71 6.83 6.50 Apr-04NATIONAL GARDEN CLUBS INC ENDOWMENT FUND (Net) 8.02 -7.05 -7.01 -0.21 4.71 4.54 6.64 6.31

Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 6.97 6.59 Apr-04XXXXX



US Equity $140,027 38.7% 36.0% 2.7%Non-US Equity $88,032 24.3% 24.0% 0.3%US Fixed Income $94,343 26.1% 28.0% -1.9%Non-US Fixed Income $39,470 10.9% 12.0% -1.1%Total $361,872 100.0% 100.0%

XXXXX




1





NATIONAL GARDEN CLUBS INC ENDOWMENT FUND


Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC ENDOWMENT FUND 361,872 100.00 8.06 -7.02 -6.93 -0.04 4.89 4.71 6.83 6.50 Apr-04NATIONAL GARDEN CLUBS INC ENDOWMENT FUND (Net) 8.02 -7.05 -7.01 -0.21 4.71 4.54 6.64 6.31

Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 6.97 6.59 Apr-04

Total Equity 228,059 63.02 11.77 -12.33 -13.37 -5.82 4.61 4.84 8.39 6.91 May-04

Equity Domestic 140,027 38.70 14.27 -10.25 -10.07 -1.34 8.20 8.10 11.25 8.37 May-04Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.52 May-04

Equity International 88,032 24.33 8.03 -15.42 -18.23 -12.29 -0.73 -0.12 3.04 4.66 May-04Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 4.76 May-04

Total Fixed Income 133,813 36.98 2.27 1.21 3.39 8.87 4.89 3.81 4.14 4.54 May-04

Fixed Income Domestic 94,343 26.07 2.57 1.84 4.11 9.97 4.94 3.79 4.06 4.49 May-04Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 4.56 May-04


XXXXX




2



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC ENDOWMENT FUND 361,872 100.00 8.06 -7.02 -6.93 -0.04 4.89 4.71 6.83 6.50 Apr-04Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 6.97 6.59 Apr-04

Total Equity 228,059 63.02 11.77 -12.33 -13.37 -5.82 4.61 4.84 8.39 6.91 May-04

Equity Domestic 140,027 38.70 14.27 -10.25 -10.07 -1.34 8.20 8.10 11.25 8.37 May-04Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.52 May-04

Vanguard® Total Stock Market Indx Fund Admiral™Shares 69,535 19.22 13.26 -10.31 -10.38 -1.13 8.01 8.31 11.29 11.88 Nov-10

Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 11.89 Nov-10Multi-Cap Core Funds Average 12.64 -11.76 -12.40 -4.74 4.83 5.26 8.73 9.13 Nov-10

Vanguard® U.S. Growth Fund Admiral™ Shares 25,879 7.15 17.09 -1.31 3.06 12.99 17.61 13.54 14.42 13.58 Dec-14Russell 1000 Growth 14.80 -3.54 -1.39 10.84 15.69 13.34 14.41 13.36 Dec-14Large-Cap Growth Funds Average 14.38 -3.69 -1.43 8.24 14.51 11.70 12.59 11.66 Dec-14

Vanguard® Windsor™ II Fund Admiral™ Shares 23,966 6.62 12.84 -13.69 -15.01 -6.12 3.72 4.90 8.89 4.89 Dec-14Russell 1000 Value 11.24 -16.70 -18.49 -11.01 1.42 3.90 8.54 3.70 Dec-14Large-Cap Value Funds Average 11.31 -16.15 -18.59 -11.33 1.51 3.36 7.64 3.36 Dec-14



Equity International 88,032 24.33 8.03 -15.42 -18.23 -12.29 -0.73 -0.12 3.04 4.66 May-04Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 4.76 May-04

Vanguard® Total International Stock Index Fund Adm™Shares 88,032 24.33 8.03 -15.42 -18.23 -12.29 -0.74 -0.12 3.03 1.74 Feb-11



3



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

Total Fixed Income 133,813 36.98 2.27 1.21 3.39 8.87 4.89 3.81 4.14 4.54 May-04

Fixed Income Domestic 94,343 26.07 2.57 1.84 4.11 9.97 4.94 3.79 4.06 4.49 May-04Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 4.56 May-04

Vanguard® Total Bond Market Index Fund Admiral™Shares 47,274 13.06 1.70 2.85 5.03 10.86 5.15 3.75 3.90 3.63 Nov-10

Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 3.74 Nov-10

Spliced Intermediate-Term Investment-Grade DebtFunds Average 2.50 1.01 2.92 8.27 4.19 3.16 3.72 3.45 Nov-10

Vanguard® Short-Term Investment-Grade Fund Adm™Shares 20,751 5.73 2.41 -0.01 0.87 4.12 2.84 2.48 2.58 2.57 Dec-14

BBgBarc US Credit 1-5 Yr TR 2.41 0.27 1.16 4.95 3.24 2.68 2.92 2.76 Dec-141-5 Year Investment-Grade Debt Funds Average 1.86 -0.92 -0.21 2.33 2.01 1.70 1.89 1.77 Dec-14

Vanguard® Inter-Term Investment-Grade Fund Adm ™Shares 14,120 3.90 3.48 0.93 2.98 9.03 4.89 4.05 4.89 4.56 Jun-11

BBgBarc US Credit 5-10 Yr TR 4.87 -1.33 0.81 8.44 5.13 4.28 5.39 5.00 Jun-11Spliced Core Bond Funds Average 2.50 1.01 2.92 8.27 4.19 3.16 3.72 3.46 Jun-11







4






5







Vanguard® Inter-Term Investment-Grade Fund Adm ™ Shares $13,645 $0 $442 $32 $14,120

Vanguard® Long-Term Investment-Grade Admiral Shares $11,586 $0 $579 $33 $12,198

Vanguard® Short-Term Investment-Grade Fund Adm™ Shares $20,410 -$150 $447 $44 $20,751


Vanguard® Total Bond Market Index Fund Admiral™ Shares $46,482 $0 $697 $94 $47,274

Vanguard® Total International Bond Index Fund Adm™ Shares $38,872 $0 $568 $31 $39,470

Vanguard® Total International Stock Index Fund Adm™ Shares $81,491 $0 $6,541 $0 $88,032




Total $335,034 -$150 $26,753 $235 $361,872

6

Cash Flow Summary



_

Beginning Market Value $335,034 $388,202 $388,033 $402,239Net Cash Flow -$150 -$150 -$322 -$40,651Capital Appreciation $26,753 -$27,423 -$27,361 -$8,830Income $235 $1,243 $1,522 $9,115Ending Market Value $361,872 $361,872 $361,872 $361,872

_



Total Equity $228,059 63.0%

Equity Domestic $140,027 38.7%






Equity International $88,032 24.3%

Vanguard® Total International Stock Index Fund Adm™ Shares $88,032 24.3% 0.110%

Total Fixed Income $133,813 37.0%

Fixed Income Domestic $94,343 26.1%







Total $361,872 100.0% 0.118%XXXXX


7









XXXXX


8



_







Total Equity

N/A

Equity Domestic

















9



_



9/1/2006 12/15/2010 100% MSCI EAFE + Emerging Markets Gross

5/31/2004 8/31/2006 100% Total International Composite Index




Total Fixed Income

N/A

















10



Legal

















NATIONAL GARDEN CLUBS INC DEENDAY SANDERS FUND

PREPARED FOR


Market Value($)

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC DEEN DAY SANDERS FUND 536,740 8.06 -7.00 -6.91 -0.06 4.93 4.73 -- 5.26 Sep-14NATIONAL GARDEN CLUBS INC DEEN DAY SANDERS FUND(Net) 8.02 -7.04 -6.99 -0.23 4.75 4.54 -- 5.08

Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 -- 5.34 Sep-14XXXXX



US Equity $207,856 38.7% 36.0% 2.7%Non-US Equity $130,556 24.3% 24.0% 0.3%US Fixed Income $139,703 26.0% 28.0% -2.0%Non-US Fixed Income $58,624 10.9% 12.0% -1.1%Total $536,740 100.0% 100.0%

XXXXX




1





NATIONAL GARDEN CLUBS INC DEEN DAY SANDERS FUND


Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC DEEN DAY SANDERSFUND 536,740 100.00 8.06 -7.00 -6.91 -0.06 4.93 4.73 -- 5.26 Sep-14

NATIONAL GARDEN CLUBS INC DEEN DAY SANDERSFUND (Net) 8.02 -7.04 -6.99 -0.23 4.75 4.54 -- 5.08

Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 -- 5.34 Sep-14

Total Equity 338,413 63.05 11.78 -12.34 -13.37 -5.79 4.69 4.89 -- 5.71 Sep-14

Equity Domestic 207,856 38.73 14.27 -10.27 -10.09 -1.34 8.21 8.11 -- 8.77 Sep-14Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.83 Sep-14

Equity International 130,556 24.32 8.03 -15.42 -18.23 -12.29 -0.73 -0.12 -- 0.73 Sep-14Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 0.88 Sep-14

Total Fixed Income 198,327 36.95 2.26 1.21 3.39 8.87 4.89 3.81 -- 3.98 Sep-14

Fixed Income Domestic 139,703 26.03 2.57 1.84 4.11 9.97 4.94 3.79 -- 3.91 Sep-14Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 3.99 Sep-14


XXXXX




2



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC DEEN DAY SANDERSFUND 536,740 100.00 8.06 -7.00 -6.91 -0.06 4.93 4.73 -- 5.26 Sep-14

Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 -- 5.34 Sep-14

Total Equity 338,413 63.05 11.78 -12.34 -13.37 -5.79 4.69 4.89 -- 5.71 Sep-14

Equity Domestic 207,856 38.73 14.27 -10.27 -10.09 -1.34 8.21 8.11 -- 8.77 Sep-14Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.83 Sep-14

Vanguard® Total Stock Market Indx Fund Admiral™Shares 102,957 19.18 13.26 -10.31 -10.38 -1.13 8.01 8.31 11.29 8.82 Sep-14

Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.83 Sep-14Multi-Cap Core Funds Average 12.64 -11.76 -12.40 -4.74 4.83 5.26 8.73 5.92 Sep-14

Vanguard® U.S. Growth Fund Admiral™ Shares 38,487 7.17 17.09 -1.31 3.06 12.99 17.61 13.54 14.42 13.58 Dec-14Russell 1000 Growth 14.80 -3.54 -1.39 10.84 15.69 13.34 14.41 13.36 Dec-14Large-Cap Growth Funds Average 14.38 -3.69 -1.43 8.24 14.51 11.70 12.59 11.66 Dec-14

Vanguard® Windsor™ II Fund Admiral™ Shares 35,679 6.65 12.84 -13.69 -15.01 -6.12 3.72 4.90 8.89 4.89 Dec-14Russell 1000 Value 11.24 -16.70 -18.49 -11.01 1.42 3.90 8.54 3.70 Dec-14Large-Cap Value Funds Average 11.31 -16.15 -18.59 -11.33 1.51 3.36 7.64 3.36 Dec-14


Vanguard® Strategic Equity Fund 15,022 2.80 15.16 -20.02 -21.62 -16.72 -1.45 2.20 9.31 3.82 Sep-14Spliced Small and Mid-Cap Index 14.53 -17.00 -18.13 -12.43 2.29 4.35 9.45 5.73 Sep-14Mid-Cap Core Funds Average 13.10 -18.05 -19.58 -13.67 0.14 2.33 7.50 3.57 Sep-14

Equity International 130,556 24.32 8.03 -15.42 -18.23 -12.29 -0.73 -0.12 -- 0.73 Sep-14Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 0.88 Sep-14

Vanguard® Total International Stock Index Fund Adm™Shares 130,556 24.32 8.03 -15.42 -18.23 -12.29 -0.74 -0.12 3.03 0.73 Sep-14

Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 0.88 Sep-14International Funds Average 7.96 -14.93 -17.17 -10.77 -0.62 -0.11 3.29 0.80 Sep-14


3



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

Total Fixed Income 198,327 36.95 2.26 1.21 3.39 8.87 4.89 3.81 -- 3.98 Sep-14

Fixed Income Domestic 139,703 26.03 2.57 1.84 4.11 9.97 4.94 3.79 -- 3.91 Sep-14Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 3.99 Sep-14

Vanguard® Total Bond Market Index Fund Admiral™Shares 70,025 13.05 1.70 2.85 5.03 10.86 5.15 3.75 3.90 3.91 Sep-14

Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 3.99 Sep-14

Spliced Intermediate-Term Investment-Grade DebtFunds Average 2.50 1.01 2.92 8.27 4.19 3.16 3.72 3.30 Sep-14

Vanguard® Short-Term Investment-Grade Fund Adm™Shares 30,733 5.73 2.41 -0.01 0.87 4.12 2.84 2.48 2.58 2.57 Dec-14

BBgBarc US Credit 1-5 Yr TR 2.41 0.27 1.16 4.95 3.24 2.68 2.92 2.76 Dec-141-5 Year Investment-Grade Debt Funds Average 1.86 -0.92 -0.21 2.33 2.01 1.70 1.89 1.77 Dec-14

Vanguard® Inter-Term Investment-Grade Fund Adm ™Shares 20,905 3.89 3.48 0.93 2.98 9.03 4.89 4.05 4.89 4.23 Dec-14

BBgBarc US Credit 5-10 Yr TR 4.87 -1.33 0.81 8.44 5.13 4.28 5.39 4.50 Dec-14Spliced Core Bond Funds Average 2.50 1.01 2.92 8.27 4.19 3.16 3.72 3.22 Dec-14







4






5







Vanguard® Inter-Term Investment-Grade Fund Adm ™ Shares $20,249 -$48 $657 $48 $20,905

Vanguard® Long-Term Investment-Grade Admiral Shares $17,181 -$50 $858 $50 $18,039

Vanguard® Short-Term Investment-Grade Fund Adm™ Shares $30,292 -$288 $663 $66 $30,733


Vanguard® Total Bond Market Index Fund Admiral™ Shares $68,991 -$140 $1,034 $140 $70,025

Vanguard® Total International Bond Index Fund Adm™ Shares $57,780 -$46 $844 $46 $58,624





Total $497,255 -$571 $39,707 $349 $536,740

6

Cash Flow Summary



_

Beginning Market Value $497,255 $577,800 $577,919 $549,567Net Cash Flow -$571 -$2,073 -$2,748 -$14,560Capital Appreciation $39,707 -$40,838 -$40,700 -$11,851Income $349 $1,850 $2,269 $13,584Ending Market Value $536,740 $536,740 $536,740 $536,740

_



Total Equity $338,413 63.0%

















Total $536,740 100.0% 0.118%XXXXX


7









XXXXX


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_




Total Equity

N/A

Equity Domestic
















Total Fixed Income

N/A



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Legal

















NATIONAL GARDEN CLUBS INC JUNE MKUMMER FUND

PREPARED FOR


Market Value($)

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC JUNE M KUMMER FUND 2,113,678 8.06 -7.04 -6.96 -0.08 4.74 4.64 -- 5.14 Jan-15NATIONAL GARDEN CLUBS INC JUNE M KUMMER FUND(Net) 8.01 -7.08 -7.04 -0.25 4.55 4.45 -- 4.96

Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 -- 5.31 Jan-15XXXXX



US Equity $817,307 38.7% 36.0% 2.7%Non-US Equity $514,956 24.4% 24.0% 0.4%US Fixed Income $550,950 26.1% 28.0% -1.9%Non-US Fixed Income $230,465 10.9% 12.0% -1.1%Total $2,113,678 100.0% 100.0%

XXXXX




1





NATIONAL GARDEN CLUBS INC JUNE M KUMMER FUND


Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC JUNE M KUMMER FUND 2,113,678 100.00 8.06 -7.04 -6.96 -0.08 4.74 4.64 -- 5.14 Jan-15NATIONAL GARDEN CLUBS INC JUNE M KUMMER FUND(Net) 8.01 -7.08 -7.04 -0.25 4.55 4.45 -- 4.96

Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 -- 5.31 Jan-15

Total Equity 1,332,263 63.03 11.77 -12.37 -13.41 -5.87 4.58 4.83 -- 5.88 Jan-15

Equity Domestic 817,307 38.67 14.27 -10.32 -10.14 -1.41 8.16 8.08 -- 8.79 Jan-15Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.94 Jan-15

Equity International 514,956 24.36 8.03 -15.42 -18.23 -12.29 -0.73 -0.13 -- 1.56 Jan-15Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 1.69 Jan-15

Total Fixed Income 781,415 36.97 2.27 1.21 3.39 8.87 4.90 3.82 -- 3.54 Jan-15

Fixed Income Domestic 550,950 26.07 2.57 1.84 4.11 9.97 4.97 3.80 -- 3.52 Jan-15Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 3.47 Jan-15

Fixed Income International 230,465 10.90 1.54 -0.28 1.69 6.31 4.74 3.82 -- 3.54 Jan-15Bloomberg Barclays Global Aggregate ex-USD FloatAdjusted RIC Capped Hedged 1.52 -0.19 1.74 6.52 4.95 4.06 -- 3.78 Jan-15

XXXXX




2



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

NATIONAL GARDEN CLUBS INC JUNE M KUMMER FUND 2,113,678 100.00 8.06 -7.04 -6.96 -0.08 4.74 4.64 -- 5.14 Jan-15Composite Benchmark 7.42 -6.46 -6.37 1.04 5.19 4.86 -- 5.31 Jan-15

Total Equity 1,332,263 63.03 11.77 -12.37 -13.41 -5.87 4.58 4.83 -- 5.88 Jan-15

Equity Domestic 817,307 38.67 14.27 -10.32 -10.14 -1.41 8.16 8.08 -- 8.79 Jan-15Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.94 Jan-15

Vanguard® Total Stock Market Indx Fund Admiral™Shares 405,901 19.20 13.26 -10.31 -10.38 -1.13 8.01 8.31 11.29 8.93 Jan-15

Spliced Total Stock Market Index 13.26 -10.32 -10.39 -1.14 8.02 8.32 11.31 8.94 Jan-15Multi-Cap Core Funds Average 12.64 -11.76 -12.40 -4.74 4.83 5.26 8.73 6.01 Jan-15

Vanguard® U.S. Growth Fund Admiral™ Shares 150,388 7.11 17.09 -1.31 3.06 12.99 17.61 13.54 14.42 14.10 Jan-15Russell 1000 Growth 14.80 -3.54 -1.39 10.84 15.69 13.34 14.41 13.92 Jan-15Large-Cap Growth Funds Average 14.38 -3.69 -1.43 8.24 14.51 11.70 12.59 12.21 Jan-15

Vanguard® Windsor™ II Fund Admiral™ Shares 140,120 6.63 12.84 -13.69 -15.01 -6.12 3.72 4.90 8.89 5.78 Jan-15Russell 1000 Value 11.24 -16.70 -18.49 -11.01 1.42 3.90 8.54 4.57 Jan-15Large-Cap Value Funds Average 11.31 -16.15 -18.59 -11.33 1.51 3.36 7.64 4.26 Jan-15

Vanguard® Explorer™ Fund Admiral™ Shares 61,750 2.92 16.69 -13.06 -14.49 -8.11 7.73 6.81 10.84 6.54 Feb-15Russell 2500 Growth 16.03 -11.01 -10.91 -4.03 7.97 7.22 11.37 6.88 Feb-15Small-Cap Growth Funds Average 15.70 -11.99 -11.91 -7.08 7.37 6.72 9.92 6.30 Feb-15

Vanguard® Strategic Equity Fund 59,149 2.80 15.16 -20.02 -21.62 -16.72 -1.45 2.20 9.31 2.99 Jan-15Spliced Small and Mid-Cap Index 14.53 -17.00 -18.13 -12.43 2.29 4.35 9.45 5.23 Jan-15Mid-Cap Core Funds Average 13.10 -18.05 -19.58 -13.67 0.14 2.33 7.50 3.29 Jan-15

Equity International 514,956 24.36 8.03 -15.42 -18.23 -12.29 -0.73 -0.13 -- 1.56 Jan-15Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 1.69 Jan-15

Vanguard® Total International Stock Index Fund Adm™Shares 514,956 24.36 8.03 -15.42 -18.23 -12.29 -0.74 -0.12 3.03 1.56 Jan-15

Spliced Total International Stock Index 8.12 -15.48 -17.84 -11.47 -0.44 0.02 3.07 1.69 Jan-15International Funds Average 7.96 -14.93 -17.17 -10.77 -0.62 -0.11 3.29 1.44 Jan-15


3



Market Value($)

% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Inception(%)

InceptionDate

_

Total Fixed Income 781,415 36.97 2.27 1.21 3.39 8.87 4.90 3.82 -- 3.54 Jan-15

Fixed Income Domestic 550,950 26.07 2.57 1.84 4.11 9.97 4.97 3.80 -- 3.52 Jan-15Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 3.47 Jan-15

Vanguard® Total Bond Market Index Fund Admiral™Shares 276,047 13.06 1.70 2.85 5.03 10.86 5.15 3.75 3.90 3.37 Jan-15

Spliced Bloomberg Barclays US Aggregate FloatAdjusted Index 1.84 3.01 5.07 11.03 5.24 3.84 3.99 3.47 Jan-15

Spliced Intermediate-Term Investment-Grade DebtFunds Average 2.50 1.01 2.92 8.27 4.19 3.16 3.72 2.90 Jan-15

Vanguard® Short-Term Investment-Grade Fund Adm™Shares 121,153 5.73 2.41 -0.01 0.87 4.12 2.84 2.48 2.58 2.45 Jan-15

BBgBarc US Credit 1-5 Yr TR 2.41 0.27 1.16 4.95 3.24 2.68 2.92 2.62 Jan-151-5 Year Investment-Grade Debt Funds Average 1.86 -0.92 -0.21 2.33 2.01 1.70 1.89 1.68 Jan-15

Vanguard® Inter-Term Investment-Grade Fund Adm ™Shares 82,451 3.90 3.48 0.93 2.98 9.03 4.89 4.05 4.89 3.79 Jan-15

BBgBarc US Credit 5-10 Yr TR 4.87 -1.33 0.81 8.44 5.13 4.28 5.39 4.00 Jan-15Spliced Core Bond Funds Average 2.50 1.01 2.92 8.27 4.19 3.16 3.72 2.90 Jan-15


Fixed Income International 230,465 10.90 1.54 -0.28 1.69 6.31 4.74 3.82 -- 3.54 Jan-15Bloomberg Barclays Global Aggregate ex-USD FloatAdjusted RIC Capped Hedged 1.52 -0.19 1.74 6.52 4.95 4.06 -- 3.78 Jan-15

Vanguard® Total International Bond Index Fund Adm™Shares 230,465 10.90 1.54 -0.28 1.69 6.31 4.74 3.82 -- 3.54 Jan-15

Bloomberg Barclays Global Aggregate ex-USD FloatAdjusted RIC Capped Hedged 1.52 -0.19 1.74 6.52 4.95 4.06 -- 3.78 Jan-15

International Income Funds Average 2.22 -4.55 -3.93 -0.63 1.49 1.26 1.92 1.15 Jan-15XXXXX


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Vanguard® Short-Term Investment-Grade Fund Adm™ Shares $119,161 -$875 $2,609 $258 $121,153


Vanguard® Total Bond Market Index Fund Admiral™ Shares $271,427 $0 $4,069 $551 $276,047






Total $1,956,948 -$875 $156,232 $1,373 $2,113,678

6

Cash Flow Summary



_

Beginning Market Value $1,956,948 $191,856 $191,771 $311,067Net Cash Flow -$875 $1,999,125 $1,999,040 $1,868,877Capital Appreciation $156,232 -$83,394 -$83,361 -$76,285Income $1,373 $6,091 $6,228 $10,018Ending Market Value $2,113,678 $2,113,678 $2,113,678 $2,113,678

_



Total Equity $1,332,263 63.0%

















Total $2,113,678 100.0% 0.118%XXXXX


7









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_




Total Equity

N/A

Equity Domestic
















Total Fixed Income

N/A



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