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        <DistributableBeforeDedAmt>28013</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>28013</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>59200</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>59200</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>429</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>58771</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>28013</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr5Amt>30268</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr3Amt>10815</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>23334</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>34015</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>98432</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>59200</QualifyingDistributionsAmt>
        <AppliedToCurrentYearAmt>28013</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>31187</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>129619</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>30268</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>99351</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear3Amt>10815</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>23334</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>34015</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>31187</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>MERCY HILL PRESYBTERIAN CHURCH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>816 N DELSE DRIVE STE 22</AddressLine1>
            <City>GLASSBORO</City>
            <State>NJ</State>
            <ZIPCode>08028</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>TAX EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>17500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>PLEASANT VALLEY BIBLE CHURCH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1101 PONDEROSA DRIVE</AddressLine1>
            <City>CAMARILLO</City>
            <State>CA</State>
            <ZIPCode>93010</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>TAX EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>2700</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>VILLAGE PRESBYTERIAN CHURCH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>736 MCCOURRY BLVD</AddressLine1>
            <City>INCLINE VILLAGE</City>
            <State>NV</State>
            <ZIPCode>89451</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>TAX EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>100</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>SCRIPTURE MEMORY MOUNTAIN MISSION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 129</AddressLine1>
            <City>EMMALENA</City>
            <State>KY</State>
            <ZIPCode>41740</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>TAX EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>UNIVERSITY OF ARIZONA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1111 NORTH CHERRY AVENUE</AddressLine1>
            <City>TUCSON</City>
            <State>AZ</State>
            <ZIPCode>85721</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>TAX EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>18500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>TUCSON GIRLS CHORUS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>4020 E RIVER ROAD</AddressLine1>
            <City>TUCSON</City>
            <State>AZ</State>
            <ZIPCode>85718</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>TAX EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>SIERRA NEVADA COLLEGE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>999 TAHOE BLVD</AddressLine1>
            <City>INCLINE VILLAGE</City>
            <State>NV</State>
            <ZIPCode>89451</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>TAX EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>12500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>SHAKESPEARE FESTIVAL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>948 INCLINE VILLAGE WAY</AddressLine1>
            <City>INCLINE VILLAGE</City>
            <State>NV</State>
            <ZIPCode>89451</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>TAX EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>GOSPEL FRIENDSHIPS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>13 BROAD STREET</AddressLine1>
            <City>HARTFIELD</City>
            <State>PA</State>
            <ZIPCode>19440</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>TAX EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1>HANDS OF HOPE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 17070</AddressLine1>
            <City>TUCSON</City>
            <State>AZ</State>
            <ZIPCode>85731</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>TAX EXEMPT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>400</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>59200</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>5600</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>45313</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>5600</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>45313</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>50913</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <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="RetDoc2">
      <AccountingFeesDetail>
        <CategoryTxt>TAX RETURN PREPARATION</CategoryTxt>
        <Amt>750</Amt>
        <NetInvestmentIncomeAmt>750</NetInvestmentIncomeAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <CompensationExplanation documentId="RetDoc3">
      <CompensationExplanationGrp>
        <PersonNm>JAMES J GIANCOLA</PersonNm>
      </CompensationExplanationGrp>
      <CompensationExplanationGrp>
        <PersonNm>SALLY GIANCOLA</PersonNm>
      </CompensationExplanationGrp>
    </CompensationExplanation>
    <InvestmentsCorpStockSchedule documentId="RetDoc4">
      <InvestmentsCorporateStockGrp>
        <StockNm>COMMON STOCK PORTFOLIO</StockNm>
        <EOYBookValueAmt>276044</EOYBookValueAmt>
        <EOYFMVAmt>528800</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PREFERRED STOCK PORTFOLIO</StockNm>
        <EOYBookValueAmt>37492</EOYBookValueAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherExpensesSchedule documentId="RetDoc5">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>26</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>26</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ANNALY RECEIPTS REPORTED LAST</Desc>
        <RevenueAndExpensesPerBooksAmt>335</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>335</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherLiabilitiesSchedule documentId="RetDoc6">
      <OtherLiabilitiesDetail>
        <Desc>LOANS FROM OFFICERS, DIRECTORS</Desc>
        <BOYBookValueAmt>1000</BOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc7">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT MANAGEMENT FEES</CategoryTxt>
        <Amt>6899</Amt>
        <NetInvestmentIncomeAmt>6899</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
  </ReturnData>
</Return>