Mr. Gaukler may be viewed as a founder of the Trust and has been a member of the Board of Trustees since its formation in 1997. In 2008, he was appointed to the Investment Council and he also served as President of the Trust until June 2021. After graduation from Valley City State College in the 1960’s Mr. Gaukler formed Valley Realty, Inc. a real estate development company that subsequently expanded its services to include property management and real estate sales. Mr. Gaukler is an active developer and investor in residential and commercial real estate. Mr. Gaukler is President and an owner of the Advisor. Mr. Gaukler is also an owner of Valley Realty, Inc. (which has provided real estate brokerage services to the Trust) and both Valley Rental Service, Inc. and Horizon Real Estate Group, LLC (which provide property management services to the Trust) and several construction related businesses, including Hi Line Construction Inc., Valley Electric Service, Inc., Valley Lumber Company, East & West Excavating, LLC, JSM Woodworks, LLP, Naasz Masonry, LLC and Landscape Elements ND, LLC (which have provided products or services to the Trust).