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            <AddressLine1Txt>PO BOX 7646</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19101</ZIPCd>
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          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
          <Amt>5500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CURTIS INSTITUTE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1726 LOCUST STREET</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19103</ZIPCd>
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          <GrantOrContributionPurposeTxt>EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>FOREIGN POLICY RESEARCH INSTITUTE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>10700 KNIGHTS ROAD</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19102</ZIPCd>
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          <GrantOrContributionPurposeTxt>EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
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          <RecipientPersonNm>ARCADIA UNIVERSITY</RecipientPersonNm>
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            <AddressLine1Txt>450 S EASTON ROAD</AddressLine1Txt>
            <CityNm>GLENSIDE</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19038</ZIPCd>
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          <GrantOrContributionPurposeTxt>EDUCATIONAL</GrantOrContributionPurposeTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>WILLIAM PENN CHARTER SCHOOL</RecipientPersonNm>
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            <AddressLine1Txt>3000 W SCHOOL HOUSE LANE</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19144</ZIPCd>
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          <GrantOrContributionPurposeTxt>EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>THE MCGILLIS SCHOOL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>668 S 1300 E</AddressLine1Txt>
            <CityNm>SALT LAKE CITY</CityNm>
            <StateAbbreviationCd>UT</StateAbbreviationCd>
            <ZIPCd>84102</ZIPCd>
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          <GrantOrContributionPurposeTxt>EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>250</Amt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>PHILADELPHIA PHOTO ARTS CENTER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1400 N AMERICAN STREET</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19122</ZIPCd>
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          <GrantOrContributionPurposeTxt>EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>250</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CREFELD SCHOOL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>8836 CREFELD ST</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19118</ZIPCd>
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          <GrantOrContributionPurposeTxt>EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>PCMS</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>BROAD STREET</AddressLine1Txt>
            <CityNm>PHIALADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19008</ZIPCd>
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          <GrantOrContributionPurposeTxt>EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>10500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>AVENUE OF THE ARTS</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>BROAD STREET</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19008</ZIPCd>
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          <GrantOrContributionPurposeTxt>EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>380</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>FOREIGN POLICY RESEARCH</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1528 WALNUT STREET</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19102</ZIPCd>
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          <GrantOrContributionPurposeTxt>EDUCATIONAL</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>54570</TotalGrantOrContriPdDurYrAmt>
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      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
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          <ExclusionAmt>2771</ExclusionAmt>
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        <DivAndIntFromSecPartVIIGrp>
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          <ExclusionAmt>44631</ExclusionAmt>
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        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>38868</RelatedOrExemptFunctionIncmAmt>
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        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>47402</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>38868</RelatedOrExemptFunctionIncmAmt>
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        <TotalIncomeProducingActyAmt>86270</TotalIncomeProducingActyAmt>
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      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="AccountingFeesSchedule" softwareId="14000265" softwareVersionNum="2014v5.0">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING &amp; TAX PREPARATION</CategoryTxt>
        <Amt>1480</Amt>
        <NetInvestmentIncomeAmt>1480</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
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    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedule" softwareId="14000265" softwareVersionNum="2014v5.0">
      <InvestmentsCorporateStockGrp>
        <StockNm>WELLS FARGO 5.125 PFD</StockNm>
        <EOYBookValueAmt>25000</EOYBookValueAmt>
        <EOYFMVAmt>23040</EOYFMVAmt>
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    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2" softwareId="14000265" softwareVersionNum="2014v5.0">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>EATON VANCE ADV SR FLTNG RT ADVANTAGE</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>38500</BookValueAmt>
        <EOYFMVAmt>36860</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BUCKEYE PARTNERS LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>15099</BookValueAmt>
        <EOYFMVAmt>18915</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>EL PASO PIPELINE PARTNERS LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ISHARES DOW JONES SELECT</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>14857</BookValueAmt>
        <EOYFMVAmt>23820</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SPECTRA ENERGY PARTNERS LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>KINDER MORGAN ENERGY PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CRESTWOOD MIDSTREAM PARTNERS LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>15395</BookValueAmt>
        <EOYFMVAmt>10247</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>KINDER MORGAN INC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>18192</BookValueAmt>
        <EOYFMVAmt>18532</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BLACKROCK FUNDS III</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>58723</BookValueAmt>
        <EOYFMVAmt>58088</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>FIRST EAGLE FUNDS INC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>40915</BookValueAmt>
        <EOYFMVAmt>38554</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>NATIXIS FUNDS TR II</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>47100</BookValueAmt>
        <EOYFMVAmt>45177</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LORD ABBOTT INVESTMENT</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>30000</BookValueAmt>
        <EOYFMVAmt>29341</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MAINSTAY FUNDS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>50081</BookValueAmt>
        <EOYFMVAmt>49132</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>EMPLETON BALANCED FUND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>32000</BookValueAmt>
        <EOYFMVAmt>30316</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>THORNBURG INVT TR INVT INCOME BUILDER FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>43387</BookValueAmt>
        <EOYFMVAmt>43346</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CAPITAL ONE FIN CORP PFT 6.25%</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>15061</BookValueAmt>
        <EOYFMVAmt>15092</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SALLIE MAE BANK</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>AMERICAN EXPRESS BANK</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BARCLAYS BANK</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BERWYN FDS INCOME FUND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>DELAWARE POOLED DIVERSIFIED INCOME FUND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>39878</BookValueAmt>
        <EOYFMVAmt>40160</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>FIDELITY ADVISOR SER I LEVERAGED STK FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>FIRST EAGLE FUNDS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>FRANKLIN CUSTODIAN FDS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>42287</BookValueAmt>
        <EOYFMVAmt>43966</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>JP MORGAN TR I</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>56107</BookValueAmt>
        <EOYFMVAmt>57301</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LOOMIS SAYLES STRAT INC FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>43565</BookValueAmt>
        <EOYFMVAmt>46999</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MUTUAL SER FD INC GLBL</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VIRTUS OPPORTUNITIES MULTI SECTOR</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>32935</BookValueAmt>
        <EOYFMVAmt>34871</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PIMCO ALL ASSET ALL AUTHORITY FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>35000</BookValueAmt>
        <EOYFMVAmt>29209</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PIONEER GLOBAL HIGH YIELD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>31698</BookValueAmt>
        <EOYFMVAmt>23944</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PRUDENTIAL SECTOR FDS UTILITY FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>19429</BookValueAmt>
        <EOYFMVAmt>22030</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SUNAMERICA STRATEGIC BOND FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>41154</BookValueAmt>
        <EOYFMVAmt>39425</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TEMPLETON GLOBAL RETURN FUND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>30482</BookValueAmt>
        <EOYFMVAmt>32109</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>THIRD AVEUE FOCUSED CR FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>26412</BookValueAmt>
        <EOYFMVAmt>23326</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>THORNBURG INTL VALUE CLASS I</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD S/T BOND INDEX</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>NEXTERA ENERGY 5.125 PFD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>25000</BookValueAmt>
        <EOYFMVAmt>22740</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>FRANKLIN INVS SEC TR</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>34731</BookValueAmt>
        <EOYFMVAmt>42884</EOYFMVAmt>
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        <Desc>BOOK/TAX DIFFERENCE</Desc>
        <Amt>2307</Amt>
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      <OtherIncreasesDetail>
        <Desc>NON TAXABLE DISTRIBUTION</Desc>
        <Amt>77</Amt>
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        <CategoryTxt>INVESTMENT ADVISOR FEES</CategoryTxt>
        <Amt>4615</Amt>
        <NetInvestmentIncomeAmt>4615</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
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