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          <RecipientPersonName>Khal B Lev Echod</RecipientPersonName>
          <RecipientUSAddress>
            <AddressLine1>1448 56th St</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11219</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>N/A</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>TO PROVIDE SUPPORT FOR A RELIGIOUS INSTITUTION- TAX EXEMPT 501(C)(3) SYNAGOGUE</PurposeOfGrantOrContribution>
          <Amount>1800</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientPersonName>TALMUD TORAH MEVAKSHEI HASHEM</RecipientPersonName>
          <RecipientUSAddress>
            <AddressLine1>3918 16TH AVENUE</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11218</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>N/A</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>TO PROVIDE SUPPORT FOR AN EDUCATIONAL INSTITUTION -EXEMPT 501(C)(3) SCHOOL</PurposeOfGrantOrContribution>
          <Amount>3600</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientPersonName>GAN YISROEL</RecipientPersonName>
          <RecipientUSAddress>
            <AddressLine1>3905 15TH AVENUE</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11218</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>N/A</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>TO PROVIDE SUPPORT FOR AN EDUCATIONALINSTITUTION- TAX EXEMPT 501(C)(3) SCHOOL</PurposeOfGrantOrContribution>
          <Amount>55000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientPersonName>CONGREGATION ADAS YEREIM</RecipientPersonName>
          <RecipientUSAddress>
            <AddressLine1>27 LEE AVENUE</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11211</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>N/A</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>TO PROVIDE SUPPORT FOR A RELIGIOUS INSTITUTION- TAX EXEMPT 501(C)(3) SYNAGOGUE</PurposeOfGrantOrContribution>
          <Amount>20600</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientPersonName>BAIS YAKOV TEACHERS SEMINARY</RecipientPersonName>
          <RecipientUSAddress>
            <AddressLine1>4412 15TH AVENUE</AddressLine1>
            <City>BROOKLY</City>
            <State>NY</State>
            <ZIPCode>11219</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>N/A</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>TO PROVIDE SUPPORT FOR AN EDUCATIONAL INSTITUTION- TAX EXEMPT 501(C)(3) SCHOOL</PurposeOfGrantOrContribution>
          <Amount>26500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientPersonName>YESHIVAS NOVOMINSK</RecipientPersonName>
          <RecipientUSAddress>
            <AddressLine1>1690 60TH STREET</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11204</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>N/A</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>TO PROVIDE SUPPORT FOR AN EDUCATIONAL INSTITUTION- TAX EXEMPT 501(C)(3) SCHOOL</PurposeOfGrantOrContribution>
          <Amount>15000</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>408500</TotGrantOrContriPaidDuringYear>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>68036</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>632130</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <OtherRevenueDescribed>
          <Description>MORNINGSIDE RIDGE-K1 2013</Description>
          <ExclusionCode>1</ExclusionCode>
          <ExclusionAmount>-76791</ExclusionAmount>
        </OtherRevenueDescribed>
        <OtherRevenueDescribed>
          <Description>MORNINGSIDE RIDGE LLC K-1</Description>
          <ExclusionCode>1</ExclusionCode>
          <ExclusionAmount>-25785</ExclusionAmount>
        </OtherRevenueDescribed>
        <OtherRevenueDescribed>
          <Description>CFP 2 LP K-1 Line 1</Description>
          <ExclusionCode>1</ExclusionCode>
          <ExclusionAmount>25199</ExclusionAmount>
        </OtherRevenueDescribed>
        <OtherRevenueDescribed>
          <Description>CFP 1 LP K-1 LINE 1</Description>
          <ExclusionCode>1</ExclusionCode>
          <ExclusionAmount>-5509</ExclusionAmount>
        </OtherRevenueDescribed>
        <SubtotalsPartXVIA>
          <ExclusionAmount>617280</ExclusionAmount>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>617280</TotalPartXVIA>
      </AnalysisIncomeProducingActy>
      <TrnsfrTrRlnWithNoncharitableEO>
        <TrnsfrOfCashToNoncharitableEO>false</TrnsfrOfCashToNoncharitableEO>
        <TrnsfrOthAssetsNoncharitableEO>false</TrnsfrOthAssetsNoncharitableEO>
        <SalesOrExchangesOfAssets>false</SalesOrExchangesOfAssets>
        <PurchaseAssetsNoncharitableEO>false</PurchaseAssetsNoncharitableEO>
        <RentalOfFacilitiesEtc>false</RentalOfFacilitiesEtc>
        <ReimbursementArrangements>false</ReimbursementArrangements>
        <LoansOrLoanGuarantees>false</LoansOrLoanGuarantees>
        <PerformanceOfServicesEtc>false</PerformanceOfServicesEtc>
        <SharingOfFacilitiesEtc>false</SharingOfFacilitiesEtc>
        <RelationshipsNoncharitableEOs>false</RelationshipsNoncharitableEOs>
      </TrnsfrTrRlnWithNoncharitableEO>
    </IRS990PF>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedule" softwareId="12000229" softwareVersion="2012v2.0">
      <InvestmentsCorpStock>
        <NameOfStock>CORP STOCKS- BERNSTEIN- SEE ATTACHED</NameOfStock>
        <EOYBookValue>1687465</EOYBookValue>
        <EOYFMV>1804624</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>FIDELITY INVESTMENTS -HERITAGE BANK</NameOfStock>
        <EOYBookValue>125000</EOYBookValue>
        <EOYFMV>61164</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2" softwareId="12000229" softwareVersion="2012v2.0">
      <InvestmentsOther>
        <CategoryOrItem>BAYRIDGE BUILDING INVESTMENT</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>50000</BookValue>
        <EOYFMV>50000</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>OTHELLO HOLDINGS</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>43000</BookValue>
        <EOYFMV>43000</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>SHELBOURNE GROUP</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>500000</BookValue>
        <EOYFMV>500000</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>MORNINGSIDE RIDGE LLC K-1</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>INVESTMENT IN CFP 2, LP K-1</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>12883</BookValue>
        <EOYFMV>12883</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>INVESTMENT IN CFP 1, LP K-1</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>4407</BookValue>
        <EOYFMV>4407</EOYFMV>
      </InvestmentsOther>
    </InvestmentsOtherSchedule2>
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      <OtherExpenses>
        <Description>PREMIUMS PAID</Description>
        <RevenueAndExpensesPerBooks>525</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>525</NetInvestmentIncome>
        <AdjustedNetIncome>525</AdjustedNetIncome>
      </OtherExpenses>
      <OtherExpenses>
        <Description>OTHER EXPENSES</Description>
        <RevenueAndExpensesPerBooks>202</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>202</NetInvestmentIncome>
        <AdjustedNetIncome>202</AdjustedNetIncome>
      </OtherExpenses>
      <OtherExpenses>
        <Description>INVESTMENT ADVISORY FEES</Description>
        <RevenueAndExpensesPerBooks>12368</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>12368</NetInvestmentIncome>
        <AdjustedNetIncome>12368</AdjustedNetIncome>
      </OtherExpenses>
      <OtherExpenses>
        <Description>FILING FEES</Description>
        <RevenueAndExpensesPerBooks>250</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>250</NetInvestmentIncome>
        <AdjustedNetIncome>250</AdjustedNetIncome>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSchedule2" softwareId="12000229" softwareVersion="2012v2.0">
      <OtherIncome>
        <Description>MORNINGSIDE RIDGE-K1 2013</Description>
        <RevenueAndExpensesPerBooks>-76791</RevenueAndExpensesPerBooks>
        <AdjustedNetIncome>-76791</AdjustedNetIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>MORNINGSIDE RIDGE LLC K-1</Description>
        <RevenueAndExpensesPerBooks>-25785</RevenueAndExpensesPerBooks>
        <AdjustedNetIncome>-25785</AdjustedNetIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>CFP 2 LP K-1 Line 1</Description>
        <RevenueAndExpensesPerBooks>25199</RevenueAndExpensesPerBooks>
        <AdjustedNetIncome>25199</AdjustedNetIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>CFP 1 LP K-1 LINE 1</Description>
        <RevenueAndExpensesPerBooks>-5509</RevenueAndExpensesPerBooks>
        <AdjustedNetIncome>-5509</AdjustedNetIncome>
      </OtherIncome>
    </OtherIncomeSchedule2>
    <OtherNotesLoansRcvblLongSch documentId="OtherNotesLoansReceviableLongS" softwareId="12000229" softwareVersion="2012v2.0">
      <OtherNotesLoansRcvblLong>
        <BorrowersName>
          <Individual>MOSHE ELIMELECH KERN REISEL</Individual>
        </BorrowersName>
        <RelationshipToInsider>NONE</RelationshipToInsider>
        <OriginalAmountOfLoan>100000</OriginalAmountOfLoan>
        <BalanceDue>60000</BalanceDue>
        <InterestRate>0.0000</InterestRate>
        <SecurityProvidedByBorrower>N/A</SecurityProvidedByBorrower>
        <PurposeOfLoan>LOAN TO A 501(C)(3) ORGANIZ</PurposeOfLoan>
        <DescOfLenderConsideration>N/A</DescOfLenderConsideration>
      </OtherNotesLoansRcvblLong>
    </OtherNotesLoansRcvblLongSch>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="12000229" softwareVersion="2012v2.0">
      <Taxes>
        <Category>FEDERAL TAX PAID</Category>
        <Amount>761</Amount>
        <NetInvestmentIncome>761</NetInvestmentIncome>
        <AdjustedNetIncome>761</AdjustedNetIncome>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>