2016-11-14T08:16:10-06:00 2015-12-31 381357951 PLANTE & MORAN PLLC 750 Trade Centre Way Ste 300 Portage MI 49002 990PF 2015-01-01 383508943 the RAVITZ FOUNDATION RAVI 2693822844 514 south rose street kalamazoo MI 490075212 BRUCE GELBAUGH VP/TREASURER 2693822844 2016-11-03 1 DAVID LOWENTHAL P00378651 2695674500 2015 2017-02-10 21:41:12Z X 37957622 X 0 X 10183 10183 831123 831123 1102286 10262716 1102286 1943592 1943592 203000 74500 128500 12925 5085 7840 12180 6090 6090 190197 190197 0 216 216 0 20400 10200 10200 321 160 161 4410 2912 1498 443649 289360 154289 1639500 1639500 2083149 289360 1793789 -139557 1654232 375539 634217 634217 2072102 2891205 2891447 714 7491270 7634137 8449645 6441784 5334758 5348877 15201582 14949117 20633436 31582991 31443434 37957622 44 44 44 44 X 19798753 19798753 0 0 11784194 11644637 31582947 31443390 31582991 31443434 31582947 -139557 0 31443390 0 31443390 PUBLICLY TRADED SECURITIES - COMERICA BANK ACCOUNT 1182711 1213460 -30749 -30749 pUBLICLY TRADED SECURITIES - COMERICA BANK ACCOUNT 4988229 3858536 1129693 1129693 PUBLICLY TRADED SECURITIES MORGAN STANLEY ACCOUNT 2011873 2044312 -32439 -32439 PUBLICLY TRADED SECURITIES MORGAN STANLEY ACCOUNT 1918518 1839358 79160 79160 LITIGATION SETTLEMENT PROCEEDS P 3547 3547 3547 11061 UNITS POWERSHARES DB COMMODITY INDEX P 2009-12-17 2015-02-19 157838 177270 -19432 -19432 FROM K-1 POWERSHARES DB COMMODITY INDEX - OTHER LOSSES P 27494 -27494 -27494 1102286 0 1892642 40162174 0.047125 2020909 37706985 0.053595 1812352 35140912 0.051574 1825422 34565628 0.052810 1162091 33251148 0.034949 0.240053 0.048011 39468717 1894933 16542 1911475 1793789 33085 0 33085 0 33085 68900 25000 93900 60815 60815 0 0 0 0 0 0 0 0 0 0 0 1 1 MI 1 0 0 0 0 1 N/A mr bruce gelbaugh 2693822844 514 south rose street kalamazoo MI 49007 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 BRUCE GELBAUGH 514 S ROSE STREET KALAMAZOO MI 49007 VP/TREASURER/DIRECTOR 20.00 94000 0 0 BURTON SHIFMAN 514 S ROSE STREET KALAMAZOO MI 49007 PRESIDENT/DIRECTOR 15.00 40000 0 0 ARNOLD SHIFMAN 514 S ROSE STREET KALAMAZOO MI 49007 ASSISTANT SECRETARY/DIRECTOR 1.00 5000 0 0 JONATHAN AARON 514 S ROSE STREET KALAMAZOO MI 49007 SECRETARY/DIRECTOR 1.00 5000 0 0 LAWRENCE HANDLER 514 S ROSE STREET KALAMAZOO MI 49007 DIRECTOR 5.00 5000 0 0 CAROLE SHIFMAN 514 S ROSE STREET KALAMAZOO MI 49007 PROGRAM DIRECTOR 30.00 54000 0 0 NONE 0 COMERICA BANK po box 75000 detroit MI 48275 INVESTMENT MANAGEMENT FEES 104312 MORGAN STANLEY 40701 WOODWARD AVE SUITE 200 BLOOMFIELD MI 48304 INVESTMENT MANAGEMENT FEES 85885 0 0 37101440 2968323 0 40069763 0 0 40069763 601046 39468717 1973436 1973436 33085 33085 1940351 0 1940351 0 1940351 1793789 0 1793789 0 1793789 1940351 0 0 88884 65684 186600 341168 1793789 0 0 0 1793789 0 146562 146562 194606 0 0 0 0 0 0 0 194606 8006 186600 X NGOGO CHIMPANZEE PROJECT 738 MAIN ST 310 WALTHAM MA 024510616 PC GENERAL SUPPORT 1000 JEWISH FEDERATION OF METROPOLITAN DETROIT 6735 TELEGRAPH ROAD BLOOMFIELD HILLS MI 483032030 PC 2015 ISRAELI CAMPER FUND 100000 HENRY FORD HEALTH SYSTEM 1 FORD PLACE 5A DETROIT MI 482023450 PC HEART AND VASCULAR INSTITUTE RESEARCH FUND 1500 TAMARACK CAMPS 6735 TELEGRAPH ROAD SUITE 380 BLOOMFIELD HILLS MI 48301 PC CAMP SCHOLARSHIPS 95000 TAMARACK CAMPS 6735 TELEGRAPH ROAD SUITE 380 BLOOMFIELD HILLS MI 48301 PC CAPACITY BUILDING 90000 FAMILY & CHILDREN SERVICES 1608 LAKE STREET KALAMAZOO MI 49001 PC GENERAL SUPPORT 5000 KALAMAZOO DREAM CENTER 1122 PORTAGE STREET KALAMAZOO MI 49001 PC GENERAL SUPPORT 2500 MINISTRY WITH COMMUNITY 440 N EDWARDS STREET KALAMAZOO MI 49007 PC GENERAL SUPPORT 2500 AJC GLOBAL JEWISH ADVOCACY 165 EAST 56TH STREET NEW YORK NY 10022 PC PROGRAM SUPPORT - METRO DETROIT 25000 AMERICAN TECHNION SOCIETY 55 EAST 59TH STREET NEW YORK NY 10022 PC RAVITZ FOUNDATION CHAIR 200000 BIG BROTHERS BIG SISTERS 3501 COVINGTON ROAD KALAMAZOO MI 49001 PC GENERAL SUPPORT 35000 BOYS & GIRLS CLUBS OF GREATER KALAMAZOO 915 LAKE STREET KALAMAZOO MI 49001 PC GENERAL SUPPORT 25000 UNIVERSITY OF MICHIGAN - CAMP MICHIGANIA 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC CAMP MICHIGANIA MOTT FAMILY PROGRAM 25000 CISV USA - DETROIT CHAPTER PO BOX 20254 FERNDALE MI 48220 PC PROGRAM SUPPORT - DETROIT CHAPTER 2000 CONGREGATION BETH SHALOM 14601 WEST LINCOLN ROAD OAK PARK MI 482371333 PC GENERAL SUPPORT 5500 HAZEL PARK SCHOOLS 1620 EAST ELZA HAZEL PARK MI 48030 PC PROMISE ZONE 2500 HILLEL CAMPUS ALLIANCE OF MICHIGAN 360 CHARLES STREET EAST LANSING MI 48823 PC GENERAL SUPPORT 115000 HILLEL OF METRO DETROIT 5221 GULLEN MALL 667 SCB - WSU DETROIT MI 48202 PC DEVELOP AND GROW PROGRAMMING 25000 HOLOCAUST MEMORIAL CENTER 28123 ORCHARD LAKE ROAD FARMINGTON HILLS MI 483343738 PC GENERAL SUPPORT 100000 ISRAEL TENNIS CENTERS 57 WEST 38TH STREET SUITE 605 NEW YORK NY 10018 PC YOUTH AT RISK PROGRAM - ITC-BEER SHEVA TENNIS CENTER 25000 JEWISH COMMUNITY CENTER OF METROPOLITAN DETROIT 6600 W MAPLE ROAD WEST BLOOMFIELD MI 48322 PC DAY CAMPS SCHOLARSHIPS 14000 UNITED JEWISH FOUNDATION 6735 TELEGRAPH ROAD PO BOX 2030 BLOOMFIELD HILLS MI 483032030 PC RAVITZ SMALL MICHIGAN JEWISH COMMUNITIES INITIATIVE PROGRAMMING ENDOWMENT. 100000 JEWISH HISTORICAL SOCIETY OF MICHIGAN 6600 W MAPLE ROAD WEST BLOOMFIELD MI 483223003 PC CREATION AND LAUNCH OF DEFENDING FREEDOM BUS TOUR 1500 JEWISH HISTORICAL SOCIETY OF MICHIGAN 6600 W MAPLE ROAD WEST BLOOMFIELD MI 483223003 PC GENERAL SUPPORT - OPERATING EXPENSES 5000 KADIMA 15999 W 12 MILE ROAD SOUTHFIELD MI 48076 PC GENERAL SUPPORT 40000 KALAMAZOO LOAVES & FISHES 901 PORTAGE STREET KALAMAZOO MI 490013005 PC GENERAL SUPPORT 35000 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 PC HADASSAH-HEBREW UNIVERSITY MEDICAL EXCHANGE PROGRAM 25000 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 PC CAPSTONE PROJECT FOR A HEALTHY MICHIGAN 25000 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 PC CAPSTONE SCHOLARSHIPS FOR FOURTH YEAR MEDICAL STUDENTS 65000 HILLEL UNIVERSITY OF MICHIGAN 1429 HILL STREET ANN ARBOR MI 48104 PC SHABBAT DINNER INITIATIVE 50000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC MOTT'S CHILDRENS HOSPITAL - ADVANCEMENT AWARDS 50000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC VISION SCREENING 50000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC RAVITZ RESEARCH FOR ELDERLY - DEPRESSION CENTER 50000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC RAVITZ FACULTY RECRUITMENT FUND - CANCER CENTER 50000 UPSTART BAY AREA 560 MISSION STREET SUITE 1395 SAN FRANCISCO CA 94105 PC THE CENTER FOR NEW JEWISH LEARNING 9000 WMU FOUNDATION 120 W WALWOOD HALL KALAMAZOO MI 490085403 PC SCHOLARSHIPS - NON-PROFIT LEADERSHIP PROGRAM 30000 YAD EZRA 2850 W 11 MILE ROAD BERKLEY MI 48072 PC HEALTHY GROCERIES PROGRAM 25000 CONGREGATION BETH SHALOM 14601 WEST LINCOLN ROAD OAK PARK MI 482371333 PC SANCTUARY FUND 1000 HILLEL DAY SCHOOL 32200 MIDDLEBELT ROAD FARMINGTON HILLS MI 48334 PC GENERAL SUPPORT 7500 JEWISH COMMUNITY CENTER OF METROPOLITAN DETROIT 6600 W MAPLE ROAD WEST BLOOMFIELD MI 48322 PC SPECIAL NEEDS FUND 1500 JEWISH COMMUNITY RELATIONS COUNCIL 6735 TELEGRAPH ROAD SUITE 140 BLOOMFIELD HILLS MI 48301 PC GENERAL SUPPORT 2500 JEWISH COMMUNITY RELATIONS COUNCIL 6735 TELEGRAPH ROAD SUITE 140 BLOOMFIELD HILLS MI 48301 PC GENERAL SUPPORT 2500 NATIONAL RAMAH COMMISSION INC 3080 BROADWAY NEW YORK NY 10027 PC CAMP RAMAH 5000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC CRANIOFACIAL ANOMALIES PROGRAM-RESEARCH GIFTS 2500 AMERICAN COMMITTEE FOR THE WEIZMANN INSTITUTE OF SCIENCE 633 THIRD AVENUE NEW YORK NY 10017 PC GENERAL SUPPORT 5000 UNITED JEWISH FOUNDATION 6735 TELEGRAPH ROAD PO BOX 2030 BLOOMFIELD HILLS MI 483032030 PC LEONARD N SIMONS COMM ARCHIVES PROGRAMMING ENDOWMENT 5000 JEWISH FEDERATION OF METROPOLITAN DETROIT 6735 TELEGRAPH ROAD PO BOX 2030 BLOOMFIELD HILLS MI 483032030 PC 2016 ISRAELI CAMPER FUND 100000 1639500 TAMARACK CAMPS 6735 TELEGRAPH ROAD SUITE 380 BLOOMFIELD HILLS MI 48301 PC CAPACITY BUILDING - TOTAL OVER NEXT YEAR 90000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC MOTT'S CHILDRENS HOSPITAL - ADVANCEMENT AWARDS - TOTAL OVER NEXT 2 YEARS 100000 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 PC HADASSAH-HEBREW UNIVERSITY MEDICAL EXCHANGE PROGRAM - TOTAL OVER NEXT 2 YEARS 50000 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 PC CAPSTONE PROJECT FOR A HEALTHY MICHIGAN - TOTAL OVER NEXT 2 YEARS 50000 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 PC CAPSTONE SCHOLARSHIPS FOR FOURTH YEAR MEDICAL STUDENTS - TOTAL OVER NEXT 2 YEARS 130000 420000 14 10183 14 831123 18 1102286 0 1943592 0 1943592 0 0 0 0 0 0 0 0 0 0 plante & moran 12180 6090 6090 AT&T INC 5.5% 02/01/2018 267758 267248 AMERICAN EXPRESS CR CORP 2.8% 09/19/2016 253124 253185 ANHEUSER BUSCH INBEV WORLDWIDE I 5.375% 01/15/2020 277682 276640 BLACKROCK INC 5% 12/10/2019 275085 276425 CATERPILLAR FINL SVCS CORP 5.45% 04/15/2018 269841 270410 CISCO SYS INC SR NT 3.15% 03/15/2017 255956 256160 GENERAL ELEC CAP CORP 5.375% 10/20/2016 250562 258443 HSBC FINANCE CORP 5.5% 01/19/2016 497430 500820 HERSHEY CO NT 4.125% 12/01/2020 269328 269525 HOME DEPOT INC 5.4% 03/01/2016 251985 251758 HONEYWELL 5.3% 03/01/2018 268827 269787 IBM CORP 5.7% 09/14/2017 267599 268145 JPMORGAN CHASE & CO INT 2% 08/15/2017 251805 250847 LOWES 5.4% 10/15/2016 100428 103415 PHILIP MORRIS INTL INC 2.5% 05/16/2016 251563 251535 PRAXAIR INC 4.5% 08/15/2019 269924 269202 PROCTER & GAMBLE CO 4.7% 02/15/2019 270696 272400 SIMON PROPERTY GROUP INC 2.15% 09/15/2017-2017 251916 252320 WAL-MART STORES INC 5.375% 04/05/2017 262933 263282 BP CAPITAL MARKETS PLC 4.75% 03/10/2019 270316 267330 AMAZON COM INC 30577 63534 COMCAST CORP CL A 62699 73359 CONSTELLATION BRANDS INC CL A 52483 80194 RR DONNELLEY & SONS CO 55213 68890 EXTENDED STAY AMER INC 82721 70548 FORD MOTOR CO 102038 88161 HAIN CELESTIAL GROUP INC 54653 37320 HOME DEPOT INC 52568 89136 KOHLS CORP 32238 29102 MATTEL INC 101433 106669 NIKE INC CL B 20370 55000 REGAL ENTERTAINMENT GROUP CL A 95778 94935 STARBUCKS CORP 46668 75638 TARGET CORP 96332 109351 ALTRIA GROUP INC 63449 69968 B & G FOODS HLDGS CORP CLASS A 119681 140430 BROWN FORMAN CORP CL B 67154 71978 CAMPBELL SOUP CO 35117 38309 CLOROX CO 24286 30439 COLGATE PALMOLIVE CO 53156 53962 CONAGRA FOODS INC 96829 135081 DISNEY WALT CO 45444 61367 DR PEPPER SNAPPLE GROUP 59629 70925 HORMEL FOODS CORP 59087 81452 KELLOGG CO 78780 104069 KRAFT HEINZ CO 36577 46130 KROGER CO 37235 45176 MOLSON COORS BREWING CO CL B 17641 31181 MONDELEZ INTL INC 63624 75331 MONSTER BEVERAGE CORP 20252 44688 PEPSICO INC 71876 88429 CHEVRON CORPORATION 164328 129003 CONOCOPHILLIPS 129342 83388 EOG RESOURCES INC 37741 31218 EXXON MOBIL CORPORATION 107156 91201 KINDER MORGAN INC DEL COM 26044 12085 OCCIDENTAL PETROLEUM CORP 16211 12846 PHILLIPS 66 37606 41718 SPECTRA ENERGY CORP 26707 19152 WILLIAMS CO COS INC 38618 18812 AMERICAN INTL GROUP INC 45780 58252 ARES CAPITAL CORP 87497 70252 BB&T CORP 42207 41931 BERKSHIRE HATHAWAY CL B 55565 63511 BLACKROCK INC 29974 33711 BOSTON PROPERTIES INC 19871 20789 CULLEN FROST 31998 25860 F N B CORP PA 87265 90499 FEDERATED INVESTORS INC CL B 93918 79074 FIFTH THIRD BANCORP COM 32344 32361 FIRST REPUBLIC BANK/SF COM 38292 40164 FIRSTMERIT CORPORATION 85236 74041 GALLAGHER ARTHUR J & CO 87807 78605 HUNTINGTON BANCSHARES INC 22881 21633 LAM RESH CORP 57428 58771 OLD REP INTL CORP 69334 104142 PACWEST BANCORP 95984 87838 PRINCIPAL FINANCIAL GROUP 107437 86721 PROLOGIS INC 102358 106270 PRUDENTIAL FINANCIAL INC 25014 25400 REGIONS FINL CORP 26643 24000 ROLLINS INC 46442 62160 SVB FINL GROUP 24130 23423 STARWOOD PPTY TR INC 87291 76278 SUMMIT HOTEL PPTYS INC COM 61265 88466 SUNTRUST BANKS INC 24734 25747 TRAVELERS COS INC 24631 25958 US BANCORP 46337 44377 VISA INC CL A 25867 102366 WELLS FARGO & CO NEW 80088 90238 WESTERN UN CO 96110 90893 ZIONS BANCORP 26085 22468 ABBOTT LABS 28063 29192 ABBVIE INC 184763 165931 AMGEN INC 52807 99021 BAXALTA INC 58009 62019 BECTON DICKINSON & CO 59380 63177 BRISTOL MYERS SQUIBB CO 44519 57784 CVS/CAREMARK CORP 62821 75283 CELGENE CORP 40419 64670 CORNING INCORPORATED 57880 82808 GILEAD SCIENCES INC 50026 61726 HCA HLDGS INC COM 39245 37873 JOHNSON & JOHNSON 53254 87517 LILLY ELI & CO 64211 78362 MCKESSON CORP 71086 61141 MERCK & CO INC NEW 134251 162580 REGENERON PHARMACEUTICALS INC 36096 48858 THERMO FISHER SCIENTIFIC INC 50747 59577 UNIVERSAL HEALTH SVCS INC CL B 36484 40627 AMERICAN RAILCAR INDS INC 41901 54564 BOEING CO 59468 67957 GENERAL DYNAMICS CORP 51761 52197 GENERAL ELECTRIC CO 68034 108620 HONEYWELL INTERNATIONAL INC 49236 54892 LSI INDS INC OHIO 14622 25757 LOCKHEED MARTINCORP 56294 76003 NORFOLK SOUTHERN CORP 80097 88143 NORTHROP GRUMMAN CORP 53285 77412 PBF ENERGY INC 89448 123682 ROPER INDS INC NEW 21774 49345 TAL INTL GROUP INC 75322 40163 ALPHABET INC CL C 60081 82718 APPLE INC 57245 111155 CA INC 85048 90364 CISCO SYS INC 134199 143922 FACEBOOK INC 41589 69599 FISERV INC 13880 41157 GREIF INC CL A 114179 73359 INTEL CORP 87886 121264 ORACLE CORPORATION 62221 59106 PALO ALTO NETWORKS INC 41630 45092 PAYPAL HLDGS INC 56690 59042 RAYTHEON COMPANY 95464 115813 RED HAT INC 27589 32213 STEELCASE INC 83367 77301 YAHOO INC 44876 33593 AVERY DENNISON CORP 43282 55141 DOW CHEMICAL CO 42691 44788 INNOPHOS HLDGS INC 105361 52512 SEALED AIR CORP NEW 40206 56196 T-MOBILE US INC 36683 35208 DOMINION RESOURCES INC 39872 39096 NEXTERA ENERGY INC 25513 25765 LIONS GATE ENTERTAINMENT CORP 48891 51500 MEDTRONIC PLC 88492 88458 PERRIGO CO PLC 44267 35741 MYLAN NV 29567 23521 SCORPIO TANKERS INC 90911 82766 ISHARES S&P SM CAP 600 INDEX FD AT COST 527412 1306455 MFS INTL NEW DISCOVERY I AT COST 163281 218658 OPPENHEIMER DEVELOPING MARKETS FUND-Y AT COST 186521 178772 GE CAPITAL RETAIL BANK CD 1.6% 03/16/2017 AT COST 250000 251695 GOLDMAN SACHS BANK USA CD 1.7% 02/22/2017 AT COST 250000 251988 STATE BANK OF INDIA CD 1.65% 03/23/2017 AT COST 250000 252592 ENERGY SEL SECT SPDR FD (XLE) AT COST 292296 224752 GUGGENHEIM S&P 500 EQU WEIGHT (RSP) AT COST 1110933 1787168 ISHARES CORE MSCI EAFE ETF (IEFA) AT COST 386979 380660 ISHARES N AMER NAT RES ETF (IGE) AT COST 377094 260859 ISHARES S&P 500 GRWTH ETF (IVW) AT COST 2207797 4159189 ISHARES S&P 500 VAL ETF (IVE) AT COST 2449822 3861148 ISHARES SP SMALLCAP 600 INDEX (IJR) AT COST 558795 973152 ISHARES US REAL ESTATE ETF (IYR) AT COST 514841 731504 PROSHARES TR S&P 500 DV ARIST (NOBL) AT COST 567479 583327 SPDR MORGAN STANLEY TECHNOLOGY (MTK) AT COST 270793 459247 VANGUARD DIVIDEND APPRECIATION (VIG) AT COST 261362 404819 VANGUARD FTSE DEVELOPED MKTS E (VEA) AT COST 1782949 1874189 VANGUARD FTSE EMERGING MKTS (VWO) AT COST 899388 814479 VANGUARD FTSE EUROPE ETF (VGK) AT COST 187596 179568 VANGUARD INTL EQUITY INDEX FD (VEU) AT COST 734301 692346 WISDOM TREE INTL DIV TOP 100 (DOO) AT COST 172088 175174 WISDOM TREE JAPN HEDGE EQ (DXJ) AT COST 199923 183042 VOYA GLOBAL REAL ESTATE I (IGLIX) AT COST 347467 428653 association dues 750 375 375 INSURANCE 1474 737 737 OFFICE EXPENSE 772 386 386 INVESTMENT EXPENSES FROM K-1S 1414 1414 0 INVESTMENT MANAGEMENT FEES 190197 190197 0 FOREIGN TAXES 216 216 0