SERVICE | INTEGRITY | VALUE As of 12/31/2012 Investment Review Community Foundation of Tompkins County

As of 12/31/2012 Community Foundation of Tompkins County 2 SERVICE | INTEGRITY | VALUE The sum of the values may not equal 100% due to rounding.

As of 12/31/2012 Community Foundation of Tompkins County 3 SERVICE | INTEGRITY | VALUE The sum of the values may not equal 100% due to rounding. Equity Portfolio

As of 12/31/2012 Community Foundation of Tompkins County 4 SERVICE | INTEGRITY | VALUE The sum of the values may not equal 100% due to rounding.

As of 12/31/2012 Community Foundation of Tompkins County 5 SERVICE | INTEGRITY | VALUE Portfolio Activity and Performance Activity4Q 2012 ($)1 Year ($)3 Years ($)5 Years ($) Since Inception ($) Value at Beginning of Period6,616, ,953, ,830, ,707, ,666, Contributions2,012, ,184, ,104, ,759, ,980, Withdrawals-126, , , ,198, ,410, Income Received82, , , , , Capital Gain/Loss25, , ,051, , , Value at End of Period8,611, Total Investment Gain after Fees 108, , ,521, ,342, ,374, Performance Portfolio1.36%12.73%9.06%3.33%3.03% Weighted Benchmark Return %11.98%8.53%2.93%3.32% Inception Date: 02/13/2007 Periods greater than 12 months are annualized Performance is net of fees; Performance is based on time weighted returns 1 Weighted Benchmark is comprised of 55.25% Russell 3000, 9.75% MSCI ACW exUS, 11% CPI, 24% Barclays Aggregate from inception - 11/30/10 and 53.62% Russell 3000, 11.38% MSCI ACW exUS, 11% CPI, 24% Barclays Aggregate from 12/1/10 - present

As of 12/31/2012 Community Foundation of Tompkins County 6 SERVICE | INTEGRITY | VALUE Performance is net of fees; Performance is based on time weighted returns 1 Weighted Equity Benchmark is comprised of 85% Russell 3000, 15% MSCI ACW exUS from inception - 11/30/10 and 82.5% Russell 3000, 17.5% MSCI ACW exUS from 12/1/10 - present Performance 4Q Year 3 Year Annualized 5 Year Annualized Since Inception Annualized EQUITIES1.84%16.92%10.24%1.54%1.42% Weighted Equity Benchmark %16.56%10.00%1.28%1.79% S&P %16.00%10.87%1.66%1.99% S&P %17.88%13.62%5.14%4.72% Russell %16.35%12.25%3.56%2.18% MSCI EAFE6.57%17.32%3.56%-3.69%-1.80% FIXED INCOME0.22%4.48%6.01%6.09%6.26% BarCap Aggregate0.21%4.22%6.19%5.95%6.21% REAL RETURN ASSETS1.02%10.18%11.21%7.44%5.57% Consumer Price Index-0.19%1.74%2.05%1.78%2.18% TOTAL PORTFOLIO1.36%12.73%9.06%3.33%3.03% Inception Date: 02/13/2007

As of 12/31/2012 Community Foundation of Tompkins County 7 SERVICE | INTEGRITY | VALUE

As of 12/31/ SERVICE | INTEGRITY | VALUE Community Foundation of Tompkins County Portfolio Holdings SecuritySymbolQuantity Unit Cost ($) Total Cost ($) Price ($)Value ($) Percent of Portfolio CASH AND EQUIVALENTS CASHcash58, % SCHWAB ADVISOR CASH RESERVES- PREMIER SWZXX55, % Subtotal114, % TOTAL114, % EQUITIES S&P 500 SPDRSPY17, ,037, ,453, % ISHARES CORE S&P 400 MIDCAP INDEXIJH5, , , % ISHARES MSCI EAFE INDEX FUNDEFA8, , , % ISHARES CORE S&P 600 SMALLCAP INDEX IJR5, , , % DFA US MICRO-CAP FUNDDFSCX22, , , % DFA US LARGE-CAP VALUE FUNDDFLVX12, , , % SPDR DOW JONES INDUSTRIAL AVERAGE ETF TRST DIA2, , , % DFA EMERGING MARKETS VALUE FUND DFEVX8, , , %

As of 12/31/ SERVICE | INTEGRITY | VALUE Community Foundation of Tompkins County Portfolio Holdings: Continued... SecuritySymbolQuantity Unit Cost ($) Total Cost ($) Price ($)Value ($) Percent of Portfolio DFA EMERGING MARKETS SMALL-CAP FUND DEMSX6, , , % DFA INTERNATIONAL SMALL-CAP FUND DFISX8, , , % DFA INTERNATIONAL VALUE PORTFOLIO DFIVX6, , , % BRIDGEWAY ULTRA-SMALL COMPANY MARKET FUND BRSIX7, , , % SPDR S&P BANKS ETFKBE3, , , % APPLE INC.AAPL , , % Subtotal4,828, ,623, % TOTAL4,828, ,623, %

As of 12/31/ SERVICE | INTEGRITY | VALUE Community Foundation of Tompkins County Portfolio Holdings: Continued... SecuritySymbolQuantity Unit Cost ($) Total Cost ($) Price ($)Value ($) Percent of Portfolio FIXED INCOME VANGUARD TOTAL BOND MARKET INDEX FUND -SIG VBTSX141, ,475, ,565, % RIDGEWORTH SEIX FLOATING RATE ISAMBX32, , , % VANGUARD GNMA FUND-ADMIRALVFIJX6, , , % Subtotal1,841, ,931, % TOTAL1,841, ,931, % REAL RETURN ASSETS VANGUARD INFLATION PROTECTED SECURITIES FD VAIPX11, , , % PIMCO COMMODITIESPLUS STRATEGY FUND - INST PCLIX23, , , % SPDR DOW JONES REIT ETFRWR3, , , %

As of 12/31/ SERVICE | INTEGRITY | VALUE Community Foundation of Tompkins County Portfolio Holdings: Continued... SecuritySymbolQuantity Unit Cost ($) Total Cost ($) Price ($)Value ($) Percent of Portfolio SPDR DJ WILSHIRE INTERNATIONAL REAL ESTATE RWX2, , , % Subtotal841, , % TOTAL841, , % GRAND TOTAL7,625, ,611, %

As of 12/31/ SERVICE | INTEGRITY | VALUE The sum of the values may not equal 100% due to rounding.

As of 12/31/ SERVICE | INTEGRITY | VALUE The sum of the values may not equal 100% due to rounding.

As of 12/31/ SERVICE | INTEGRITY | VALUE The sum of the values may not equal 100% due to rounding.

As of 12/31/ SERVICE | INTEGRITY | VALUE Portfolio Activity and Performance Activity4Q 2012 ($)1 Year ($)3 Years ($)5 Years ($) Since Inception ($) Value at Beginning of Period1,394, ,316, ,259, , , Contributions0.007, , , , Withdrawals-30, , , , , Income Received21, , , , , Capital Gain/Loss9, , , , , Value at End of Period1,395, Total Investment Gain after Fees 31, , , , , Performance Portfolio2.26%13.17%7.97%2.78%2.62% Inception Date: 01/31/2007 Periods greater than 12 months are annualized Performance is net of fees; Performance is based on time weighted returns

As of 12/31/ SERVICE | INTEGRITY | VALUE Performance 4Q Year 3 Year Annualized 5 Year Annualized Since Inception 1 Annualized EQUITIES3.40%18.06%9.18%1.49%0.99% Broad Market Social Index %13.94%8.87%1.56%1.18% S&P %16.00%10.87%1.66%1.53% S&P %17.88%13.62%5.14%4.33% Russell %16.35%12.25%3.56%2.17% MSCI EAFE %17.32%NA FIXED INCOME-0.12%3.96%5.91%4.56%4.97% BarCap Aggregate0.21%4.22%6.19%5.95%6.21% REAL RETURN ASSETS0.52%9.15%NA Consumer Price Index-0.19%1.74%NA TOTAL PORTFOLIO2.26%13.17%7.97%2.78%2.62% Performance is net of fees; Performance is based on time weighted returns 1 Inception Dates: 05/01/2007 for Equities, 01/31/2007 for Fixed Income, 08/01/2011 for Real Return Assets 2 Broad Market Social Index is comprised of KLD All-Cap Sustainability index (discontinued) from inception through 6/30/10, MSCI USA Broad ESG Index from 7/1/10 - 7/31/11, and 77% MSCI USA Broad ESG Index/23% MSCI World ex USA ESG Index from 8/1/11 - present 3 International position incepted on 8/1/11

As of 12/31/ SERVICE | INTEGRITY | VALUE Community Foundation of Tompkins County SRI Account Portfolio Holdings SecuritySymbolQuantity Unit Cost ($) Total Cost ($) Price ($)Value ($) Percent of Portfolio CASH AND EQUIVALENTS CASHcash12, % Subtotal12, % TOTAL12, % EQUITIES DFA U.S. SOCIAL CORE EQUITY 2 PORTFOLIO DFUEX41, , , % VANGUARD FTSE SOCIAL INDX-IVVFTSX40, , , % DFA INTL SUSTAINABILITY COREDFSPX13, , , % DFA EMERGING MARKETS SOCIAL CORE EQUITY DFESX4, , , % Subtotal863, , % TOTAL863, , %

As of 12/31/ SERVICE | INTEGRITY | VALUE Community Foundation of Tompkins County SRI Account Portfolio Holdings: Continued... SecuritySymbolQuantity Unit Cost ($) Total Cost ($) Price ($)Value ($) Percent of Portfolio FIXED INCOME VANGUARD GNMA FUND-ADMIRALVFIJX9, , , % ISHARES BARCLAYS 7-10 YEAR TREASURY BOND IEF , , % PIMCO TOTAL RETURN FUND III INSTLPTSAX6, , , % ISHARES BARCLAYS AGENCY BOND FUND AGZ , , % ISHARES BARCLAYS 3-7 YEAR TREASURY BOND IEI , , % Subtotal299, , % TOTAL299, , % REAL RETURN ASSETS VANGUARD INFLATION PROTECTED SECURITIES FD VAIPX2, , , % POWERSHARES DB COMMODITY INDEX TRACKING FD DBC1, , , % SPDR DOW JONES REIT ETFRWR , , %

As of 12/31/ SERVICE | INTEGRITY | VALUE Community Foundation of Tompkins County SRI Account Portfolio Holdings: Continued... SecuritySymbolQuantity Unit Cost ($) Total Cost ($) Price ($)Value ($) Percent of Portfolio SPDR DJ WILSHIRE INTERNATIONAL REAL ESTATE RWX , , % Subtotal148, , % TOTAL148, , % GRAND TOTAL1,324, ,395, %