2015-11-13T08:45:09-06:00 2014-12-31 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990PF 2014-01-01 383508943 THE RAVITZ FOUNDATION RAVI 2693822844 514 SOUTH ROSE STREET KALAMAZOO MI 490075212 BRUCE GELBAUGH VP/TREASURER 2693822844 2015-11-12 1 JAMES G THOMPSON CPA P00053844 2695674500 2014 2016-02-25 16:41:14Z X 40185395 X 0 X 10171 10171 764325 764325 1473513 10828110 1473513 2248009 2248009 203000 101500 101500 14401 7200 7201 11600 5800 5800 187290 187290 0 106763 0 0 20400 10200 10200 3884 1942 1942 3753 3054 699 551091 316986 127342 1765300 1765300 2316391 316986 1892642 -68382 1931023 100783 375539 375539 8107404 2072102 2072268 714 74 714 714 6615216 7491270 9040059 1346122 6441784 6509482 15482114 15201582 22187333 31651713 31582991 40185395 384 44 384 44 X 19798753 19798753 0 0 11852576 11784194 31651329 31582947 31651713 31582991 31651329 -68382 0 31582947 0 31582947 PUBLICLY TRADED SECURITIES - COMERICA BANK ACCOUNT 1859374 1691603 167771 167771 PUBLICLY TRADED SECURITIES - COMERICA BANK ACCOUNT 3112259 2343549 768710 768710 2150 UNITS LAZARD LTD 2014-07-23 100828 68382 32446 32446 PUBLICLY TRADED SECURITIES MORGAN STANLEY ACCOUNT 2975422 3009554 -34132 -34132 PUBLICLY TRADED SECURITIES - MORGAN STANLEY ACCOUNT 2482340 1853108 629232 629232 10513 UNITS ISHARES S&P GSCI COMMODITY-INDEXED TRUST 2014-10-29 296151 324592 -28441 -28441 LITIGATION SETTLEMENT PROCEEDS P 1725 1725 1725 POWERSHARES DB COMMODITY INDEX FUND - GAINS/LOSSES FROM K-1 P 1172 -1172 -1172 ISHARES S&P GSCI COMMODITY INDEX FUND - OTHER LOSSES P 20081 -20081 -20081 POWERSHARES DB COMMODITY INDEX FUND - OTHER LOSSES P 42556 -42556 -42556 ISHARES S&P GSCI COMMODITY INDEX FUND - GAINS FROM K-1 P 11 11 11 1473513 0 2020909 37706985 0.053595 1812352 35140912 0.051574 1825422 34565628 0.052810 1162091 33251148 0.034949 1655328 31676801 0.052257 0.245185 0.049037 40162174 1969433 19310 1988743 1892642 38620 0 38620 0 38620 107520 107520 68900 68900 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 15.00 94000 0 0 BURTON SHIFMAN 514 S ROSE STREET KALAMAZOO MI 49007 PRESIDENT 16.00 94000 0 0 ARNOLD SHIFMAN 514 S ROSE STREET KALAMAZOO MI 49007 ASSISTANT SECRETARY 1.00 5000 0 0 JONATHAN AARON 514 S ROSE STREET KALAMAZOO MI 49007 SECRETARY 1.00 5000 0 0 LAWRENCE HANDLER 514 S ROSE STREET KALAMAZOO MI 49007 DIRECTOR 1.00 5000 0 0 NONE 0 MORGAN STANLEY 40701 WOODWARD AVE SUITE 200 BLOOMFIELD MI 48304 INVESTMENT MANAGEMENT FEES 104794 COMERICA BANK PO BOX 75000 DETROIT MI 482753317 INVESTMENT MANAGEMENT FEES 82496 0 0 36955239 3818542 0 40773781 0 0 40773781 611607 40162174 2008109 2008109 38620 38620 1969489 0 1969489 0 1969489 1892642 0 1892642 0 1892642 1969489 0 0 55144 110587 65684 186600 418015 1892642 0 0 0 1892642 0 76847 76847 341168 0 0 0 0 0 0 0 341168 88884 65684 186600 X AMERICAN JEWISH COMMITTEE 165 EAST 56 STREET NEW YORK NY 10022 NONE PUBLIC INTERRELIGIOUS AFFAIRS PROGRAMMING 100000 AMERICAN TECHNION SOCIETY 55 EAST 59TH STREET NEW YORK NY 10022 NONE PUBLIC RAVITZ FOUNDATION CHAIR 200000 BIG BROTHERSBIG SISTERS 3501 COVINGTON ROAD KALAMAZOO MI 49001 NONE PUBLIC GENERAL SUPPORT 25000 BOYS & GIRLS CLUB OF GREATER KALAMAZOO 915 LAKE STREET KALAMAZOO MI 49001 NONE PUBLIC GENERAL SUPPORT 25000 BRONFMAN CENTER NEW YORK UNIVERSITY 25 WEST FOURTH STREET 4TH FLOOR NEW YORK NY 100121119 NONE PUBLIC JEWISH STUDENT LIFE ANNUAL FUND 1000 CONGREGATION BETH SHALOM 14601 WEST LINCOLN ROAD OAK PARK MI 482371333 NONE PUBLIC GENERAL SUPPORT 7500 CONGREGATION BETH SHALOM 14601 WEST LINCOLN ROAD OAK PARK MI 482371333 NONE PUBLIC GENERAL SUPPORT 1000 CONGREGATION BETH SHALOM 14601 WEST LINCOLN ROAD OAK PARK MI 482371333 NONE PUBLIC BUILDING MAINTENANCE PROGRAM 35000 FAMILY & CHILDREN SERVICES 1608 LAKE STREET KALAMAZOO MI 49001 NONE PUBLIC GENERAL SUPPORT 5000 HAZEL PARK SCHOOLS 1620 EAST ELZA HAZEL PARK MI 48030 NONE PUBLIC PROMISE ZONE 2500 HILLEL CAMPUS ALLIANCE OF MICHIGAN 360 CHARLES STREET EAST LANSING MI 48823 NONE PUBLIC GENERAL SUPPORT 75000 HILLEL DAY SCHOOL OF METROPOLITAN DETROIT 32200 MIDDLEBELT ROAD FARMINGTON HILLS MI 483341715 NONE PUBLIC ANGEL FUND 5000 HOLOCAUST MEMORIAL CENTER 28123 ORCHARD LAKE ROAD FARMINGTON HILLS MI 483343738 NONE PUBLIC GENERAL SUPPORT 100000 ISRAEL CHILDREN'S CENTERS 3275 WEST HILLSBORO BOULEVARD SUITE 102 DEERFIELD BEACH FL 33442 NONE PUBLIC GENERAL SUPPORT - BEER SHEVA TENNIS CENTER 25000 JEWISH COMMUNITY CENTER 15110 WEST TEN MILE ROAD OAK PARK MI 48237 NONE PUBLIC MACCABI GAMES 2014 25000 JEWISH FEDERATION & UNITED JEWISH FOUNDATION OF METROPOLITAN DETROIT 6735 TELEGRAPH ROAD BLOOMFIELD HILLS MI 483032030 NONE PUBLIC LEONARD N SIMONS COMM ARCHIVES PROGRAMMING ENDOWMENT 5000 JEWISH FEDERATION & UNITED JEWISH FOUNDATION OF METROPOLITAN DETROIT 6735 TELEGRAPH ROAD BLOOMFIELD HILLS MI 483032030 NONE PUBLIC RAVITZ SMALL MICHIGAN JEWISH COMMUNITIES INITIATIVE PROGRAMMING ENDOWMENT. 100000 JEWISH FEDERATION OF METROPOLITAN DETROIT 6735 TELEGRAPH ROAD BLOOMFIELD HILLS MI 483032030 NONE PUBLIC ISRAELI CAMPER FUND 100000 JEWISH ENSEMBLE THEATRE 6600 WEST MAPLE ROAD WEST BLOOMFIELD MI 483223003 NONE PUBLIC GENERAL SUPPORT 1000 JEWISH SENIOR LIFE 6710 WEST MAPLE WEST BLOOMFIELD MI 48322 NONE PUBLIC EIGHTY OVER EIGHTY FUND 2500 KADIMA 15999 W TWELVE MILE ROAD SOUTHFIELD MI 48076 NONE PUBLIC KADIMA - RAVITZ HOME 15000 KALAMAZOO DREAM CENTER 1122 PORTAGE STREET KALAMAZOO MI 49001 NONE PUBLIC GENERAL SUPPORT 2500 KALAMAZOO LOAVES AND FISHES 901 PORTAGE STREET KALAMAZOO MI 490013005 NONE PUBLIC GENERAL SUPPORT 25000 MINISTRY WITH COMMUNITY 440 N CHURCH STREET KALAMAZOO MI 49007 NONE PUBLIC GENERAL SUPPORT 2500 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 NONE PUBLIC HADASSAH-HEBREW UNIVERSITY MEDICAL EXCHANGE PROGRAM 25000 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 NONE PUBLIC CAPSTONE PROJECT FOR A HEALTHY MICHIGAN 25000 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 NONE PUBLIC CAPSTONE SCHOLARSHIPS FOR FOURTH YEAR MEDICAL STUDENTS 65000 TAMARACK CAMPS 6735 TELEGRAPH ROAD SUITE 380 ROCHESTER MI 48301 NONE PUBLIC GENERAL SUPPORT 95000 TAMARACK CAMPS 6735 TELEGRAPH ROAD SUITE 380 BLOOMFIELD HILLS MI 48301 NONE PUBLIC ARTS CENTER BUILDING 125000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 NONE PUBLIC DEPRESSION CENTER 167000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 NONE PUBLIC CRANIOFACIAL ANOMALIES PROGRAM-RESEARCH GIFTS 1500 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 NONE PUBLIC MOTT'S CHILDRENS HOSPITAL 125000 UNIVERSITY OF MICHIGAN - CAMP MICHIGANIA 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 NONE PUBLIC CAMP MICHIGANIA 2500 UNIVERSITY OF MICHIGAN HILLEL FOUNDATION 1429 HILL STREET ANN ARBOR MI 48104 NONE PUBLIC GENERAL SUPPORT 50000 YAD EZRA 2850 W ELEVEN MILE ROAD BERKLEY MI 48072 NONE PUBLIC GENERAL SUPPORT 25000 CONGREGATION BETH SHALOM 14601 WEST LINCOLN ROAD OAK PARK MI 482371333 PUBLIC GENERAL SUPPORT 1000 JEWISH COMMUNITY CENTER 6600 WEST MAPLE ROAD WEST BLOOMFIELD MI 48322 PUBLIC SCHOLARSHIP DONATION 10800 BIRTHRIGHT ISRAEL 33 E 33RD STREET 7TH FLOOR NEW YORK NY 10016 PUBLIC GENERAL SUPPORT 1000 NATIONAL RAMAH COMMISSION INC 3080 BROADWAY NEW YORK NY 10027 PUBLIC GENERAL SUPPORT 5000 JEWISH HISTORICAL SOCIETY OF MI 6600 WEST MAPLE ROAD WEST BLOOMFIELD MI 48332 PUBLIC GENERAL SUPPORT 2500 AMERICAN FRIENDS OF DARCHEL AVOT 831 NORWOOD AVENUE LONG BRANCH NJ 077404651 PUBLIC GENERAL SUPPORT 5000 BEAUMONT FOUNDATION 3711 W THIRTEEN MILE ROAD ROYAL OAK MI 480736769 PUBLIC CHILDRENS MIRACLE NETWORK - CRANIOFACIAL TEAM DONATION 2500 AMERICAN COMMITTEE FOR THE WEIZMANN INSTITUTE OF SCIENCE 633 THIRD AVENUE NEW YORK NY 10017 PUBLIC WEIZMANN INSTITUE OF SCIENCE IN ISRAEL 5000 HENRY FORD HEALTH SYSTEM 1 FORD PLACE 5A DETROIT MI 482023450 PUBLIC HERMELIN BRAIN TUMOR CENTER 50000 UNIVERSITY OF MICHIGAN - COLLEGE OF LITERATURE SCIENCE AND THE ARTS LSA BUILDING SUITE 500 500 SOUTH STATE STREET ANN ARBOR MI 481091382 PUBLIC HISTORY STRATEGIC FUND 1000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PUBLIC DEMIRCI - DETECTION OF WHITE REFLEX RESEARCH 50000 HILLEL JEWISH STUDENT CENTER - MICHIGAN STATE UNIVERSITY 360 CHARLES STREET EAST LANSING MI 48823 PUBLIC GENERAL SUPPORT 40000 1765300 AMERICAN TECHNION SOCIETY 55 EAST 59TH STREET NEW YORK NY 10022 NONE PUBLIC RAVITZ FOUNDATION CHAIR- TOTAL OVER NEXT YEAR 200000 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 NONE PUBLIC HADASSAH-HEBREW UNIVERSITY MEDICAL EXCHANGE PROGRAM- TOTAL OVER NEXT 3 YEARS 75000 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 NONE PUBLIC CAPSTONE PROJECT FOR A HEALTHY MICHIGAN- TOTAL OVER NEXT 3 YEARS 75000 OAKLAND UNIVERSITY 2200 NORTH SQUIRREL ROAD ROCHESTER MI 483094497 NONE PUBLIC CAPSTONE LINKED SCHOLARSHIP FOR FOURTH YEAR MEDICAL STUDENTS- TOTAL OVER NEXT 3 YEARS 195000 545000 14 10171 14 764325 18 1473513 0 2248009 0 2248009 0 0 0 0 0 0 0 0 0 0 PLANTE & MORAN 11600 5800 5800 AT&T INC 5.5% 02/01/2018 276034 275973 AMERICAN EXPRESS CR CORP 2.8% 09/19/2016 257435 257353 ANHEUSER BUSCH INBEV WORLDWIDE I 5.375% 01/15/2020 284141 283160 BLACKROCK INC 5% 12/10/2019 281115 282645 CATERPILLAR FINL SVCS CORP 5.45% 04/15/2018 278277 279028 CISCO SYS INC SR NT 3.15% 03/15/2017 260862 261325 CREDIT SUISSE FIRST BOSTON USA 5.125% 08/15/2015 495350 513255 GENERAL ELEC CAP CORP 5.375% 10/20/2016 251238 268703 HSBC FINANCE CORP 5.5% 01/19/2016 497430 522755 HERSHEY CO NT 4.125% 12/01/2020 272992 270940 HOME DEPOT INC 5.4% 03/01/2016 263856 263828 HONEYWELL 5.3% 03/01/2018 277315 277320 IBM CORP 5.7% 09/14/2017 277742 278610 JPMORGAN CHASE & CO INT 2% 08/15/2017 252899 252377 LOWES 5.4% 10/15/2016 100954 107522 PHILIP MORRIS INTL INC 2.5% 05/16/2016 255715 255945 PRAXAIR INC 4.5% 08/15/2019 275171 275295 PROCTER & GAMBLE CO 4.7% 02/15/2019 277076 278380 SIMON PROPERTY GROUP INC 2.15% 09/15/2017-2017 253016 254237 US BANCORP MEDIUM TERM 1.95% 11/15/2018-2018 250727 250760 UNITED TECHNOLOGIES CORP 1.8% 06/01/2017 252940 253267 WAL-MART STORES INC 5.375% 04/05/2017 273065 273327 BP CAPITAL MARKETS PLC 4.75% 03/10/2019 276434 273477 AMAZON COM INC 52047 49656 CBS CORP NEW CL B 51788 46486 COMCAST CORP CL A 62699 75413 CONSTELLATION BRANDS INC CL.. A 38085 47122 RR DONNELLEY & SONS CO 55213 78647 FORD MOTOR CO 92252 87110 HARLEY DAVIDSON INC 26022 24387 HOME DEPOT INC 74095 99722 LEGGETT & PLATT INC 64103 117178 MGM MIRAGE 42354 34849 MEREDITH CORP 75328 116788 NIKE INC CL B 20370 42306 STARBUCKS CORP 46668 51692 TARGET CORP 85635 107033 TIME WARNER INC 47503 64919 TWENTY-FIRST CENTY FOX INC 29822 33412 VIACOM INC CL B 83338 76755 BROWN FORMAN CORP CL B 24084 24595 CLOROX CO 24286 25010 COLGATE PALMOLIVE CO 53156 56044 CONAGRA FOODS INC 94814 123352 DISNEY WALT CO 73925 89481 ECOLAB INC 33728 54350 HERSHEY CO COMMON STOCK 74196 77948 INTERNATIONAL FLAVORS 44741 51694 KELLOGG CO 78780 94234 KRAFT FOODS GROUP INC 50013 59527 MOLSON COORS BREWING CO CL B 24443 34279 MONDELEZ INTL INC 63624 61026 MONSTER BEVERAGE CORP 74254 120269 NEWELL RUBBERMAID INC 49730 60944 PEPSICO INC 94211 109690 PROCTER & GAMBLE CO 70577 82892 TYSON FOODS INC CLASS A 41726 40491 WHOLE FOODS MKT INC 64371 69580 CALIFORNIA RES CORP - W/I 1689 1080 CHEVRON CORPORATION 189153 179488 CONOCOPHILLIPS 98171 89778 EXXON MOBIL CORPORATION 107156 108167 HELMERICH & PAYNE INC 29100 18203 OCCIDENTAL PETROLEUM CORP 16211 15316 PHILLIPS 66 37606 36567 AMERICAN EXPRESS CO 72721 76293 AMERICAN INTL GROUP INC 73053 84015 ARES CAPITAL CORP 87497 76933 BERKSHIRE HATHAWAY CL B 85485 111111 BLACKROCK INC 42387 50058 EDUCATION RLTY TR INC 84071 112551 F N B CORP PA 94160 97502 FIRSTMERIT CORPORATION 85236 74993 GALLAGHER ARTHUR J & CO 87807 90394 HANOVER INS GROUP INC 56894 106980 HATTERAS FINL CORP 85562 83304 M D C HLDGS INC 87540 78881 MORGAN STANLEY 48187 62080 OLD REP INTL CORP 69334 81782 PNC FINANCIAL SERVICES GROUP 42022 45615 ROLLINS INC 46442 52960 STARWOOD PPTY TR INC 88548 86220 SUMMIT HOTEL PPTYS INC COM 83916 117185 VISA INC CL A 25867 86526 WELLS FARGO & CO NEW 80088 91001 ABBVIE INC 54864 60205 AMGEN INC 52807 97167 BIOGEN IDEC INC 50169 71284 BRISTOL MYERS SQUIBBCO 44519 49585 CVS/CAREMARK CORP 51278 63565 CELGENE CORP 40419 60404 CORNING INCORPORATED 57880 103873 GILEAD SCIENCES INC 50026 57499 HCA HLDGS INC COM 39245 41098 HALYARD HEALTH INC 2391 4547 JOHNSON & JOHNSON 145727 236328 LILLY ELI & CO 64211 64161 MEDTRONIC INC 66159 83030 MERCK & CO INC NEW 153815 202740 PFIZER INC 102917 101237 SELECT MED HLDGS CORP 66448 105552 THERMO FISHER SCIENTIFIC INC 50747 52622 UNIVERSAL HEALTH SVCS INC CL B 24029 25590 AMERICAN RAILCAR INDS INC 41901 60718 BOEING CO 59468 61091 GENERAL ELECTRIC CO 218516 234000 HONEYWELL INTERNATIONAL INC 49236 52958 KANSAS CITY SOUTHERN 41284 50032 LSI INDS INC OHIO 20338 19827 LOCKHEED MARTINCORP 56294 67399 NORFOLK SOUTHERN CORP 69755 101937 NORTHROP GRUMMAN CORP 35416 44217 PBF ENERGY INC 89448 89510 ROPER INDS INC NEW 21774 40651 TALINTL GROUP INC 69958 94547 UNITED TECHNOLOGI ES CORP 89554 94300 WABTEC CORP 33680 54741 ADOBE SYS INC 51188 57433 APPLE INC 83566 177712 CA INC 70067 81301 CISCO SYS INC 80420 92346 FACEBOOK INC 53656 85042 FISERV INC 13880 31936 GOOGLE INC CL C 99489 94752 GREIF INC CL A 88760 81708 INTEL CORP 142918 186168 MICROSOFT CORP 103703 191374 RAYTHEON COMPANY 72626 81127 STEELCASE INC 93462 104289 ALCOA INC 25841 25106 AVERY DENNISON CORP 43282 45654 DOW CHEMICAL CO 98333 120865 INNOPHOS HLDGS INC 96783 96442 KIMBERLY CLARK CORP 55205 92432 MONSANTO CO 47221 51372 SEALED AIR CORP NEW 40206 53462 VERIZON COMMUNICATIONS 76723 78123 LIONS GATE ENTERTAINMENT CORP 48891 50912 PARTNERRE LTD ADR 11981 20543 SCORPIO TANKERS INC 90912 89681 ISHARES S&P SM CAP 600 INDEX FD AT COST 786386 2012703 MFS INTL NEW DISCOVERY I AT COST 251987 321646 OPPENHEIMER DEVELOPING MARKETS FUND-Y AT COST 260085 286213 ALLY BANK CD 1.15% 02/23/2016 AT COST 250000 252645 GE CAPITAL RETAIL BANK CD 1.6% 03/16/2017 AT COST 250000 251705 GOLDMAN SACHS BANK USA CD 1.7% 02/22/2017 AT COST 250000 252650 MERCANTILE BANK CD .9% 02/29/2016 AT COST 250000 250480 STATE BANK OF INDIA CD 1.65% 03/23/2017 AT COST 250000 253318 ENERGY SEL SECT SPDR FD (XLE) AT COST 179862 169640 GUGGENHEIM S&P 500 EQU WEIGHT (RSP) AT COST 921531 1666161 ISHARES MSCI EMERGING MKTS ETF (EEM) AT COST 951228 915496 ISHARES N AMER NAT RES ETF (IGE) AT COST 377094 355226 ISHARES S&P 500 GRWTH ETF (IVW) AT COST 2328148 4224283 ISHARES S&P 500 VAL ETF (IVE) AT COST 2449822 4089685 ISHARES SP SMALLCAP 600 INDEX (IJR) AT COST 596699 1067373 ISHARES US REAL ESTATE ETF (IYR) AT COST 514840 748652 POWERSHARES DB COMM TRK INC (DBC)NET OF BASIS ADJUSTMENT AT COST 206156 204075 SPDR MORGAN STANLEY TECHNOLOGY AT COST 270793 432251 VANGUARD DIVIDEND APPRECIATION (VIG) AT COST 517460 828319 VANGUARD FTSE DEVELOPED MKTS E (VEA) AT COST 1761737 1902978 VANGUARD INTL EQUITY INDEX FD (VEU) AT COST 969563 954773 WISDOM TREE INTL DIV TOP 100 (DOO) AT COST 271306 312253 VOYA GLOBAL REAL ESTATE I (IGLIX) AT COST 336885 434808 INSURANCE 1397 698 699 INVESTMENT EXPENSES FROM K-1S 2356 2356 0 INVESTMENT MANAGEMENT FEES 187290 187290 0 EXCISE TAX 106763 0 0