UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-6727
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Dominion Funds, Inc.
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(Exact name of registrant as specified in charter)
1141 Custis Street, Alexandria, Virginia 22308
- -----------------------------------------------
(Address of principal executive offices)(Zip code)
Paul Dietrich, 1141 Custis Street, Alexandria, Virginia 22308
- -------------------------------------------------------------
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 416-2053
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Date of fiscal year end: June 30
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Date of reporting period: 07/01/03 -- 06/30/04
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INDEPENDENT AUDITOR'S REPORT
To the Shareholders and
Board of Directors of
Dominion Funds, Inc.
We have audited the accompanying statement of assets and liabilities of The
Shepherd Large Cap Growth Fund portfolio of Dominion Funds, Inc., including the
schedule of investments in securities, as of June 30, 2004, and the related
statement of operations for the year then ended, the statements of changes in
net assets for each of the two years in the period then ended, and the financial
highlights for each of the three years in the period then ended. These financial
statements and financial highlights are the responsibility of the Fund's
management. Our responsibility is to express an opinion on these financial
statements and financial highlights based on our audits. The financial
highlights for the two years ended June 30, 2001 were audited by other auditors
whose report dated August 10, 2001, expressed an unqualified opinion on the
financial highlights.
We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements and financial highlights are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements and financial highlights. Our procedures
included confirmation of securities owned as of June 30, 2004, by correspondence
with the custodian and broker. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred to
above present fairly, in all material respects, the financial position of The
Shepherd Large Cap Growth Fund portfolio of Dominion Funds, Inc. as of June 30,
2004, the results of its operations for the year then ended, the changes in its
net assets for each of the two years in the period then ended, and the financial
highlights for each of the three years in the period then ended, in conformity
with U.S. generally accepted accounting principles.
BRAD A. KINDER, CPA
Flower Mound, Texas
August 5, 2004
ITEM 1. REPORTS TO STOCKHOLDERS.
THE SHEPHERD LARGE CAP GROWTH FUND
STATEMENT OF ASSETS AND LIABILITIES
JUNE 30, 2004
ASSETS
Investments in securities, at value
(identified cost $2,694,134) $ 2,646,352
Cash and cash equivalents 4,193,541
Receivables
Dividends and interest 2,375
Securities sold 51,394
Capital shares sold 16,745
------------
TOTAL ASSETS 6,910,407
------------
LIABILITIES
Payables
Securities purchased 1,911,206
Investment advisory fee 4,010
Administration fee 4,933
------------
TOTAL LIABILITIES 1,920,149
------------
NET ASSETS $ 4,990,258
============
ANALYSIS OF NET ASSETS:
Net capital paid in on shares of capital stock $ 12,645,073
Undistributed investment loss (2,451,318)
Undistributed net realized losses (5,155,715)
Net unrealized depreciation (47,782)
------------
$ 4,990,258
============
Capital shares outstanding 1,418,815
Net asset value and offering price per share
Net asset value per share $ 3.52
============
Offering price per share $ 3.70
============
See notes to financial statements.
THE SHEPHERD LARGE CAP GROWTH FUND
SCHEDULE OF INVESTMENTS IN SECURITIES
JUNE 30, 2004
Shares Value
-------- --------
COMMON STOCKS 52.2%
BASIC MATERIALS 3.0%
Mining 3.0%
Northern Dynasty Minerals (a) 37,500 $149,250
--------
CONSUMER CYCLICAL 3.4%
Retail - Apparel 3.4%
Kellwood Company 3,925 169,705
--------
ENERGY 3.7%
Oilfield Equipment 3.7%
National-Oilwell, Inc. (a) 6,000 187,710
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FINANCIAL 12.1%
Financial Services 0.6%
Waterside Capital Corporation (a) 5,300 29,150
--------
Savings & Loan 7.3%
IndyMac Bancorp, Inc. 5,350 167,999
Sovereign Bancorp, Inc. 8,900 195,005
--------
363,004
--------
Securities Brokers 4.2%
Empire Financial Holding Company (a) 200,000 210,000
--------
602,154
--------
HEALTH CARE 15.3%
Advanced Technology - Medical Devices 4.0%
Boston Scientific Corporation (a) 4,630 197,994
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Biotechnology 3.9%
IVAX Corporation (a) 8,250 198,416
--------
Health Care Providers 3.4%
Cardinal Health, Inc. 2,450 169,758
--------
Medical Supplies 4.0%
Caremark Rx, Inc. (a) 6,000 197,640
--------
763,808
--------
See notes to financial statements.
THE SHEPHERD LARGE CAP GROWTH FUND
SCHEDULE OF INVESTMENTS IN SECURITIES
JUNE 30, 2004
PRINCIPAL
AMOUNT OR
SHARES VALUE
---------- ----------
COMMON STOCKS (Continued)
INDUSTRIAL 4.1%
Electrical Components 4.1%
Solectron Corporation (a) 31,000 $ 202,585
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TECHNOLOGY 7.3%
Communications Technology 3.4%
Sina Corporation (a) 5,000 168,806
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Semiconductors 3.9%
Atmel Corporation (a) 33,250 197,078
----------
365,884
----------
UTILITIES 3.3%
Electric 3.3%
Constellation Energy Group, Inc. 4,350 165,256
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TOTAL COMMON STOCKS (cost $2,654,134) 2,606,352
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CORPORATE BONDS 0.8%
Dominican SMME Corp, 8.25%, due 12/1/2020
(cost $40,000) 40,000 40,000
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TOTAL INVESTMENTS IN SECURITIES 53.%
(cost $2,694,134) $2,646,352
==========
Notes:
(a) Presently non-income producing.
(b) Percentages are of net assets.
See notes to financial statements.
THE SHEPHERD LARGE CAP GROWTH FUND
STATEMENT OF OPERATIONS
YEAR ENDED JUNE 30, 2004
Investment income
Dividends $ 33,921
Interest 10,658
---------
Total investment income 44,579
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Expenses
Investment advisory fee 50,372
Administration fee 62,966
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Total expenses 113,338
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NET INVESTMENT LOSS (68,759)
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REALIZED GAIN AND UNREALIZED DEPRECIATION ON INVESTMENTS
Net realized gain on investments in securities 804,433
Net change in unrealized depreciation
of investments in securities (416,302)
---------
NET GAIN ON INVESTMENTS 388,131
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NET INCREASE IN NET ASSETS RESULTING
FROM OPERATIONS $ 319,372
=========
See notes to financial statements.
THE SHEPHERD LARGE CAP GROWTH FUND
STATEMENT OF CHANGES IN NET ASSETS
YEARS ENDED JUNE 30, 2004 AND 2003
2004 2003
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CHANGE IN NET ASSETS FROM OPERATIONS
Net investment loss $ (68,759) $ (42,917)
Net realized gain (loss) on investments
in securities 804,433 (879,557)
Net change in unrealized depreciation on
investments in securities (416,302) 845,960
----------- -----------
Net increase (decrease) in net assets
resulting from operations 319,372 (76,514)
DISTRIBUTIONS TO SHAREHOLDERS FROM
Net realized gains on investments in
securities -- --
CAPITAL SHARE TRANSACTIONS- NET 932,038 200,529
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Total increase in net assets 1,251,410 124,015
NET ASSETS
Beginning of year 3,738,848 3,614,833
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End of year (including undistributed
investment loss of $2,451,318
and $2,382,559, respectively) $ 4,990,258 $ 3,738,848
=========== ===========
See notes to financial statements.
THE SHEPHERD LARGE CAP GROWTH FUND
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Business:
The Shepherd Large Cap Growth Fund (Fund) is a separate series of
shares of common stock of Dominion Funds, Inc. (Company). The Company
was incorporated in the state of Texas in June of 1992, and is
registered under the Investment Company Act of 1940 as a diversified,
open-end management investment company. The Fund is subject to various
investment restrictions as set forth in the Statement of Additional
Information. The investment objective of the Fund is capital
appreciation. The Company may designate one or more series of common
stock. The only series currently designated is the Fund. Each capital
share in the Fund represents an equal proportionate interest in the net
assets of the Fund with each other capital share in such series and no
interest in any other series.
Significant Accounting Policies:
Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of the assets and
liabilities and disclosure of contingent assets and liabilities at the
date of the financial statements and the reported amounts of increases
and decreases in net assets from operations during the reporting
period. Actual results could differ from those estimates.
Valuation of Securities
Securities are valued at the close of each business day. Securities
traded on national securities exchanges or on the national market
systems are valued at the last quoted sales price on the day of
valuation. Securities for which representative market quotations are
not readily available are valued at fair value as determined in good
faith by the Board of Directors. Bonds are valued at the last quoted
bid price obtained from independent pricing services.
Security Transactions and Investment Income
Security transactions are accounted for on the date the securities are
purchased or sold. Realized security gains and losses from security
transactions are reported on an identified cost basis. Dividend income
is recognized on the ex-dividend date, and interest income is
recognized on the accrual basis.
THE SHEPHERD LARGE CAP GROWTH FUND
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(CONTINUED)
Cash
Cash is held in a credit interest account at First Southwest Company,
bearing interest at a variable rate. At June 30, 2004, the interest
rate was .25%.
Income Taxes
The Fund's policy is to continue to comply with the requirements of the
Internal Revenue Code that are applicable to regulated investment
companies and to distribute all of its net taxable income, including
any net realized gains on investments, to its shareholders. Therefore,
no federal income or excise tax provision is required.
Net investment income (loss), net realized gains (losses) and the cost
of investments in securities may differ for financial statement and
income tax purposes. The character of distributions from net investment
income or net realized gains may differ from their ultimate
characterization for income tax purposes. At June 30, 2004, there were
no material differences. Also, due to the timing of dividend
distributions, the fiscal year in which amounts are distributed may
differ from the year that the income or realized gains were recorded by
the Fund.
Distributions to Shareholders
Dividends declared and paid from net investment income or net realized
gains are recorded on the ex-dividend date.
NOTE 2 - DISTRIBUTION TO SHAREHOLDERS
There were no distributions to shareholders for the year ended June 30,
2004.
At June 30, 2004, the Fund had undistributed net realized losses of
$5,155,715.
THE SHEPHERD LARGE CAP GROWTH FUND
NOTES TO FINANCIAL STATEMENTS
NOTE 3 - CAPITAL SHARE TRANSACTIONS
As of June 30, 2004, there were 1,000,000,000 shares of $.001 par value
capital stock authorized of which 200,000,000 shares are classified as
the Fund's series; the balance is unclassified. As of June 30, 2004,
capital paid-in aggregated $12,645,073.
Transactions in shares of capital stock for the years ended June 30,
2004 and June 30, 2003 are as follows:
SHARES AMOUNT
----------------------------------- ---------------------------------
2004 2003 2004 2003
------------- ------------- ------------- --------------
Shares sold 855,615 241,399 $ 3,059,355 $ 716,852
Shares issued in
reinvestment of
dividends -- -- -- --
------------- ------------- ------------- --------------
855,615 241,399 3,059,355 716,852
Shares redeemed 565,421 169,775 2,127,317 516,323
------------- ------------- ------------- --------------
Net increase 290,194 71,624 $ 932,038 $ 200,529
============= ============= ============== ==============
NOTE 4 - SECURITIES TRANSACTIONS
Cost of purchases and sales of securities (excluding short-term
obligations) aggregated $7,026,181 and $8,726,248 respectively, for the
year ended June 30, 2004. As of June 30, 2004, the aggregate unrealized
appreciation and depreciation of securities was as follows:
Unrealized appreciation $ 31,168
Unrealized depreciation (78,950)
------------
Net unrealized depreciation $ (47,782)
============
THE SHEPHERD LARGE CAP GROWTH FUND
NOTES TO FINANCIAL STATEMENTS
NOTE 5 - INVESTMENT ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES
The Fund has an Investment Advisory Agreement with Nye, Parnell &
Emerson Capital Management, Inc. (Advisor) to act as its investment
advisor. The Advisor also serves as investment advisor to certain
private accounts. The Advisor has no previous experience in advising a
mutual fund, other than to advise the Fund since November 1, 1999. The
Advisor provides the Fund with investment advice and recommendations,
and supervises the purchase and sale of securities on behalf of the
Fund, including the negotiation of commissions and the allocation of
principal business and portfolio brokerage. For such services, the
Advisor receives an annual investment advisory fee equal to 1.0% of the
Fund's average daily net assets, computed daily and paid on a monthly
basis.
The Fund has an Administration Agreement with Foundation Management,
Inc. (Administrator). Pursuant to the Administration Agreement, the
Administrator is responsible for the administration and overall
management of the Fund. The Administrator pays all operating costs of
the Fund, except the investment advisory fee and the administration
fee, interest, taxes, the cost of brokerage incurred in connection with
execution of securities transactions, litigation expenses and
indemnification paid to advisors of the Fund and officers and directors
of the Company. For such services, the Administrator receives an annual
administration fee equal to 1.25% of the Fund's average daily net
assets, computed daily and paid on a monthly basis.
Certain directors and officers of the Company are also directors and
officers of the Advisor and Administrator.
THE SHEPHERD LARGE CAP GROWTH FUND
FINANCIAL HIGHLIGHTS
YEAR ENDED JUNE 30,
------------------------------------------------------------------
2004 2003 2002 2001 2000
---------- ---------- ---------- ---------- ----------
PER SHARE DATA (1):
Net asset value, beginning of year $ 3.31 $ 3.42 $ 5.59 $ 25.47 $ 19.15
---------- ---------- ---------- ---------- ----------
Income (loss) from investment operations:
Net investment loss (.05) (.04) (.08) (.24) (.48)
Net realized and unrealized gain
(loss) on investments in securities 0.26 (0.07) (2.09) (9.93) 12.62
---------- ---------- ---------- ---------- ----------
Total income (loss) from investment
operations 0.21 (0.11) (2.17) (10.17) 12.14
---------- ---------- ---------- ---------- ----------
Less distributions:
Distributions from net realized gains -- -- -- (9.71) (5.82)
---------- ---------- ---------- ---------- ----------
Net asset value, end of year $ 3.52 $ 3.31 $ 3.42 $ 5.59 $ 25.47
========== ========== ========== ========== ==========
Total return 6.34% -3.22% -38.82% -53.85% 69.10%
========== ========== ========== ========== ==========
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year (in
thousands) $ 4,990 $ 3,739 $ 3,615 $ 6,994 $ 17,903
Ratio of expenses to average
net assets 2.25% 2.25% 2.25% 2.25% 2.24%
Ratio of net investment loss to
average net assets 1.37% 1.33% 1.94% 2.03% 2.02%
Portfolio turnover rate 258.84% 235.79% 99.77% 19.96% 120.65%
(1) Per share information has been calculated using the average number of
shares outstanding.
(2) Sales load is not reflected in total return.
See notes to financial statements.
[LOGO] SHEPHERD FUNDS
ADDITIONAL INFORMATION
INFORMATION ABOUT DIRECTORS
The business and affairs of the Fund are managed under the direction of the
Fund's Board of Directors. Information pertaining to the directors of the Fund
is set forth below. The SAI includes additional information about the Fund's
directors and is available, without charge, upon request by calling (800) 416
2053.
INTERESTED DIRECTORS
TERM OF OTHER
POSITION OFFICE AND DIRECTORSHIPS
NAME, HELD WITH LENGTH OF PRINCIPAL OCCUPATION(S) HELD BY
ADDRESS AND AGE FUND TIME SERVED DURING PAST 5 YEARS DIRECTOR
- -----------------------------------------------------------------------------------------------------------------------------------
Paul Dietrich Chairman, Indefinite term; President and Managing Director of Eton Court None
1613 Duke Street President, Director since Asset Management, Ltd. ("Eton Court") (parent of
Alexandria, VA 22314 Director 2001; Chairman Nye, Parnell & Emerson Capital Management, Inc.,
Age: 55 since 2002; the Fund's investment adviser) and President of
President since Foundation Management, Inc., the Fund's
2003 administrator (1999 - present); Chairman of
Peress Investment Advisors, Ltd. (1999 to
present).
NON-INTERESTED DIRECTORS
TERM OF OTHER
POSITION OFFICE AND DIRECTORSHIPS
NAME, HELD WITH LENGTH OF PRINCIPAL OCCUPATION(S) HELD BY
ADDRESS AND AGE FUND TIME SERVED DURING PAST 5 YEARS DIRECTOR
- -----------------------------------------------------------------------------------------------------------------------------------
Douglas W. Powell Director Indefinite term; Registered representative of New Investor World None
4101 McEwen Director since Incorporated (2000 - present); COO/CFO NIW
Suite 110 1999 Holdings, Inc. (2002 - Present); CEO Rushmore
Dallas, TX 75244 Investment Management Corp. (2001 -2002);
Age: 64 Chairman and Chief Executive Officer of
Northstar Financial Group (1995 - 2001).
[LOGO] SHEPHERD FUNDS
ANNUAL REPORT
JUNE 30, 2004
INVESTMENT ADVISOR TRANSFER AGENT DISTRIBUTOR
Nye, Parnell & Emerson Capital Management, Fund Services, Inc. Cullum & Burks Securities, Inc.
Inc. 1500 Forest Ave., Suite 111 13355 Noel Road, Suite 1300,
1613 Duke Street Richmond, VA 23229 One Galleria Tower
Alexandria, VA 22314 (800) 628 4077 Dallas, TX 75240
(800) 416 2053 (972) 755 0270
ADMINISTRATOR INDEPENDENT AUDITORS LEGAL COUNSEL
Foundation Management, Inc. Brad A. Kinder, CPA Frederick C. Summers, III, P.C.
1141 Custis Street 400 Parker Square Attorney at Law
Alexandria, VA 22308 Suite 250-K 8235 Douglas Ave., Suite 1111
(800) 416 2053 Flower Mound, TX 75028 Dallas, TX 75225
OFFICERS DIRECTORS CUSTODIAN
Paul Dietrich Paul Dietrich First Southwest Company
Chairman, President 1700 Pacific, Suite 500
Douglas W. Powell Dallas, TX 75201
ITEM 2. CODE OF ETHICS.
As of the end of the period covered by this report, the Registrant has adopted a
code of ethics that applies to its principal executive officer, principal
financial officer, principal accounting officer or persons performing similar
functions. Such code of ethics is attached hereto as an exhibit. No waivers from
a provision of the Code were granted during the period covered by this report.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
The registrant does not have an audit committee financial expert. The registrant
does not have an audit committee financial expert because the small size of the
registrant limits the ability of the registrant's Administrator to engage an
audit committee financial expert.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Audit Fees. The aggregate fees billed for each of the last two fiscal years
for professional services by the principal accountant for the audit of the
registrant's annual financial statements, or services that are normally provided
by the accountant in connection with statutory and regulatory filings or
engagements for those fiscal years, were as follows:
YEAR ENDED JUNE 30,
-------------------------------
2003 2004
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$ 6,000 $ 6,000
(b) Audit-Related Fees. The aggregate fees billed in each of the last two fiscal
years for assurance and related services by the principal accountant that are
reasonably related to the performance of the audit of the registrant's financial
statements and are not reported under "Audit Fees" above were as follows:
YEAR ENDED JUNE 30,
-------------------------------
2003 2004
-------- --------
$ -0- $ -0-
The nature of the services comprising the fees disclosed under this category
were as follows:
(c) Tax Fees. The aggregate fees billed in each of the last two fiscal years for
professional services rendered by the principal accountant for tax compliance,
tax advice and tax planning were as follows:
YEAR ENDED JUNE 30,
-------------------------------
2003 2004
-------- --------
$ 2,000 $ 2,000
The nature of the services comprising the fees disclosed under this category
were as follows:
________________________________________________________________________________
Preparation of Federal income tax return for registrant.
(d) All Other Fees. The aggregate fees billed in each of the last two fiscal
years for products and services provided by the principal accountant, other than
the services reported in the above categories were as follows:
Year ended June 30,
-------------------------------
2002 2003
-------- --------
$ -0- $ -0-
The nature of the services comprising the fees disclosed under this category
were as follows:
(e)(1) Disclose the audit committee's pre-approval policies and procedures
described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
The registrant does not have an audit committee.
(2) Disclose the percentage of services described in each of paragraphs (b)
through (d) of this Item that were approved by the audit committee pursuant to
paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
The registrant does not have an audit committee.
(f) If greater than 50 percent, disclose the percentage of hours expended on the
principal accountant's engagement to audit the registrant's financial statements
for the most recent fiscal year that were attributed to work performed by
persons other than the principal accountant's full-time, permanent employees.
- -Not applicable-
(g) Disclose the aggregate non-audit fees billed by the registrant's accountant
for services rendered to the registrant, and rendered to the registrant's
investment adviser, and any entity controlling, controlled by, or under common
control with the adviser that provides ongoing services to the registrant for
each of the last two fiscal years of the registrant.
Year ended June 30,
-------------------------------
2003 2004
-------- --------
$ 2,000 $ 2,000
(h) Disclose whether the registrant's audit committee of the board of directors
has considered whether the provision of non-audit services that were rendered to
the registrant's investment adviser, and any entity controlling, controlled by,
or under common control with the investment adviser that provides ongoing
services to the registrant that were not pre-approved pursuant to paragraph
(c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the
principal accountant's independence.
The registrant does not have an audit committee.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
Not applicable.
ITEM 6. SCHEDULE OF INVESTMENTS
The schedule is included as part of the report to shareholders filed under Item
1 of this Form.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT
COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 9. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Not applicable.
ITEM 10. CONTROLS AND PROCEDURES.
Based on their evaluation of registrant's disclosure controls and procedures (as
defined in rule 30a-2(c) under the Investment Company Act of 1940 as of
September 8, 2004, registrant's principal executive officer and principal
financial officer found registrant's disclosure controls and procedures to be
appropriately designed to ensure that information required to be disclosed by
registrant in the reports that it files under the Securities Exchange Act of
1934 (a) is accumulated and communicated to registrant's management, including
its principal executive officer and principal financial officer, to allow timely
decisions regarding required disclosure, and (b) is recorded, processed,
summarized and reported, within the time periods specified in the rules and
forms adopted by the U.S. Securities and Exchange Commission.
There have been no significant changes in registrant's internal controls or in
other factors that could significantly affect registrant's internal controls
subsequent to the date of the most recent evaluation as indicated, including no
significant deficiencies or material weaknesses that required corrective action.
ITEM 11. EXHIBITS.
(a) Code of Ethics is attached hereto as EX-99.CODE ETH.
(b) Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are
attached hereto as EX-99.CERT. Certifications pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002 are attached hereto as EX-906CERT.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Dominion Funds, Inc.
By: /S/ Paul Dietrich
----------------------------
Paul Dietrich, President
Date: September 8, 2004
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By: /S/ Paul Dietrich
----------------------------
Paul Dietrich
Principal executive and
principal financial officer
Date: September 8, 2004