Residential Management Services Trust - Page 6




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               Other expenses:                                                        
               Administrative fees           41,006                                   
               Consultation fees             26,886                                   
               Food                          38,753                                   
               Laundry                       4,129                                    
               Medical services              2,417                                    
               Maintenance/operations        59,855                                   
               Phone                         890                                      
               Business use of home          5,036                                    
               Total                                    $508,072                      
               Net profit                              $16,662                        
               The Carey 1995 return shows a net operating loss carryover             
          of $11,311.  The return does not identify any income as having              
          been received from the trust.                                               
          Trust Declaration                                                           
               The trust was created by a declaration of trust (the trust             
          declaration) dated May 24, 1994.  In pertinent part, the trust              
          declaration provides as follows:                                            
                                 [Begin cover page]                                   
                                   *  *  *  *  *                                      
                      THIS DOCUMENT IS CREATED UNDER COMMON LAW                       
                        RIGHT OF CONTRACT IN WASHINGTON D.C.                          
                           RESIDENTIAL MANAGEMENT SERVICES                            
                A Trust Organization and/or Pure Trust executed Under                 
               The Constitutional Laws of the United States of America                
                                   *  *  *  *  *                                      
                                  [End cover page]                                    











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Last modified: May 25, 2011