﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2013v3.1" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2014-05-13T14:32:04-07:00</ReturnTs>
    <TaxPeriodEndDt>2013-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1>BENOIT &amp; MCARDLE PC</BusinessNameLine1>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1>240 WAREHAM RD - P O BOX 1037</AddressLine1>
        <City>MARION</City>
        <State>MA</State>
        <ZIPCode>027381037</ZIPCode>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2013-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>046863845</EIN>
      <BusinessName>
        <BusinessNameLine1>The Maurice and Anne Makepeace</BusinessNameLine1>
        <BusinessNameLine2>Family Foundation</BusinessNameLine2>
      </BusinessName>
      <BusinessNameControlTxt>MAUR</BusinessNameControlTxt>
      <PhoneNum>5087481665</PhoneNum>
      <USAddress>
        <AddressLine1>77 Piney Point Road</AddressLine1>
        <City>Marion</City>
        <State>MA</State>
        <ZIPCode>02738</ZIPCode>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>JOANNA BENNETT</PersonNm>
      <PersonTitleTxt>Trustee</PersonTitleTxt>
      <SignatureDt>2014-05-12</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>Joseph L McArdle Jr CPA</PreparerPersonNm>
      <PTIN>P00146401</PTIN>
      <PhoneNum>5087481611</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2013</TaxYr>
    <BuildTS>2015-12-30 17:16:21Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="5">
    <IRS990PF documentId="IRS990PF" referenceDocumentId="GeneralExplanation" softwareId="13000170" softwareVersion="2013v3.1">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>2894049</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>79464</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>79464</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>79464</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>73135</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>667322</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>119951</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>152599</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>199415</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>79464</TotalAdjNetIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule">2725</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>2725</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>2725</AccountingFeesAdjNetIncmAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OtherProfessionalFeesSchedule">21371</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>21371</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesAdjNetIncmAmt>21371</OtherProfFeesAdjNetIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">2391</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>2356</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>35</TaxesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>26487</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>26452</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>24096</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>35</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>121000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>121000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>147487</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>26452</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>24096</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>121035</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>5112</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>172963</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>55368</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstEOYAmt>174935</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>174935</SavAndTempCashInvstEOYFMVAmt>
        <PrepaidExpensesEOYAmt>293</PrepaidExpensesEOYAmt>
        <CorporateStockBOYAmt>2023862</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestmentsCorpStockSchedule">1799040</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>2719114</CorporateStockEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="OtherAssetsSchedule">1</OtherAssetsBOYAmt>
        <TotalAssetsBOYAmt>2023863</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>1974268</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>2894049</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>54707</AccountsPayableBOYAmt>
        <TotalLiabilitiesBOYAmt>54707</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <RetainedEarningBOYAmt>1969156</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>1974268</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1969156</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>1974268</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>2023863</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>1974268</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1969156</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>5112</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>1974268</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>1974268</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapitalGainNetIncomeAmt>119951</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>-1936</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>139010</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>2557653</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.05435</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>98285</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>2525516</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.03892</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>103535</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>2396933</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.04320</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>115699</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>2196798</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.05267</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>161190</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>2737129</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.05889</DistributionYr5Rt>
        <TotalDistributionRt>0.24802</TotalDistributionRt>
        <AverageDistributionRt>0.04960</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>2735144</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>135674</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>1730</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>137404</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>121035</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>3459</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>3459</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>3459</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>2281</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>2281</TotalPaymentsAndCreditsAmt>
        <TaxDueAmt>1178</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>false</Form990TFiledInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>MA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1>AMERICAN RESEARCH &amp; MANAGEMENT</BusinessNameLine1>
        </PersonsWithBooksName>
        <PhoneNum>5087481665</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1>145 FRONT STREET</AddressLine1>
          <City>Marion</City>
          <State>MA</State>
          <ZIPCode>02738</ZIPCode>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <UndistrIncmSect4942a2NotAppInd>false</UndistrIncmSect4942a2NotAppInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <ExcessBusinessHoldingsInd>false</ExcessBusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>false</TransactionsFailToQlfyAsExcInd>
        <MaintainedExpenditureRspnsInd>false</MaintainedExpenditureRspnsInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <ProceedsOrNetIncomeInd>false</ProceedsOrNetIncomeInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CHRISTOPHER MAKEPEACE</PersonNm>
          <USAddress>
            <AddressLine1>77 PINEY POINT ROAD</AddressLine1>
            <City>MARION</City>
            <State>MA</State>
            <ZIPCode>02738</ZIPCode>
          </USAddress>
          <TitleTxt>Trustee</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOANNA BENNETT</PersonNm>
          <USAddress>
            <AddressLine1>25 SOUTH STREET</AddressLine1>
            <City>MARION</City>
            <State>MA</State>
            <ZIPCode>02738</ZIPCode>
          </USAddress>
          <TitleTxt>Trustee</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>2677557</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>99239</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>2776796</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2776796</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>41652</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2735144</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>136757</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>136757</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>3459</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>3459</TotalTaxAmt>
        <DistributableBeforeAdjAmt>133298</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>133298</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>133298</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>121035</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>121035</QualifyingDistributionsAmt>
        <AdjustedQualifyingDistriAmt>121035</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>133298</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>25703</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>121035</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>25703</AppliedToYear1Amt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>95332</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>37966</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>Christopher Makepeace</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>200 Tihonet Road</AddressLine1>
            <City>Wareham</City>
            <State>MA</State>
            <ZIPCode>02571</ZIPCode>
          </RecipientUSAddress>
          <RecipientPhoneNum>5087481665</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>Description of organization, proof of exempt status, list of Board of Directors</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>None</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>None</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>EVERGREEN HOUSE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>2875 Cranberry Highway</AddressLine1>
            <City>Wareham</City>
            <State>MA</State>
            <ZIPCode>02538</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>United Negro College Fund</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>321 Columbus Avenue 3rd Floor</AddressLine1>
            <City>Boston</City>
            <State>MA</State>
            <ZIPCode>02116</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>Public</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>WAREHAM PUBLIC SCHOOLS</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>54 Marion Road</AddressLine1>
            <City>Wareham</City>
            <State>MA</State>
            <ZIPCode>02571</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>COMMUNITY RESOURCES NETWORK</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>75 High Street</AddressLine1>
            <City>Wareham</City>
            <State>MA</State>
            <ZIPCode>02571</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CRANBERRY RESEARCH FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>3203-B Cranberry Highway</AddressLine1>
            <City>East Wareham</City>
            <State>MA</State>
            <ZIPCode>02538</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>RD STILLMAN MEMORIAL SCHOLARSHIP FU</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>219 Sandwich Road</AddressLine1>
            <City>Wareham</City>
            <State>MA</State>
            <ZIPCode>02571</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>3500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>NEW BEDFORD WOMEN'S CENTER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>405 County Street</AddressLine1>
            <City>New Bedford</City>
            <State>MA</State>
            <ZIPCode>02740</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Community Nurse Hospice Care</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>62 Center Street</AddressLine1>
            <City>Fairhaven</City>
            <State>MA</State>
            <ZIPCode>02719</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>South Shore Mental Health</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>500 Victory Road</AddressLine1>
            <City>Quincy</City>
            <State>MA</State>
            <ZIPCode>02171</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>YMCA Southcoast</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>18 South Water Street</AddressLine1>
            <City>New Bedford</City>
            <State>MA</State>
            <ZIPCode>02740</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>TABOR ACADEMY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>Front Street</AddressLine1>
            <City>Marion</City>
            <State>MA</State>
            <ZIPCode>02738</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>THE John C. Makepeace MEMORIAL Scholarship Fund and annual fund</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>MARION INSTITUTE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>3 Barnabas Road</AddressLine1>
            <City>Marion</City>
            <State>MA</State>
            <ZIPCode>02738</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>Prvt</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Unrestricted</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>GOULD ACADEMY ANNUAL FUND</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>Gould Academy</AddressLine1>
            <City>Bethel</City>
            <State>ME</State>
            <ZIPCode>04217</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>Prvt</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Unrestricted</GrantOrContributionPurposeTxt>
          <Amt>3500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Buzzards Bay Musicfest</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>PO Box 443</AddressLine1>
            <City>Marion</City>
            <State>MA</State>
            <ZIPCode>02738</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>Prvt</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Unrestricted</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Nativity Preparatory School</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>66 Spring Street</AddressLine1>
            <City>New Bedford</City>
            <State>MA</State>
            <ZIPCode>02740</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Honor alumni and provide for student scholarships</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Damien's Place</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>226 Great Neck Road</AddressLine1>
            <City>Wareham</City>
            <State>MA</State>
            <ZIPCode>02571</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>SOUTHCOAST HEALTH SYSTEM-TOBEY HOSP</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>101 PAGE STREET</AddressLine1>
            <City>NEW BEDFORD</City>
            <State>MA</State>
            <ZIPCode>02740</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Unrestricted</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ZEITERION PERFORMING ARTS CENTER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>684 PURCHASE ST</AddressLine1>
            <City>NEW BEDFORD</City>
            <State>MA</State>
            <ZIPCode>02741</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Rotch-Jones-Duff House Garden Museu</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>396 County St</AddressLine1>
            <City>New Bedford</City>
            <State>MA</State>
            <ZIPCode>02740</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PRVT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Unrestricted</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>New Bedford Art Museum</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>608 Pleasant Street</AddressLine1>
            <City>New Bedford</City>
            <State>MA</State>
            <ZIPCode>02740</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>Public</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Unrestricted</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Buzzards Bay Area Habitat for Human</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>PO Box 1584</AddressLine1>
            <City>Mattapoisett</City>
            <State>MA</State>
            <ZIPCode>02739</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>Public</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Unrestricted</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Our Sister's School</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>145 Brownell Ave</AddressLine1>
            <City>New Bedford</City>
            <State>MA</State>
            <ZIPCode>02740</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>Public</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Unrestricted</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>121000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>79464</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>73135</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>152599</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>152599</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="AccountingFeesSchedule" softwareId="13000170" softwareVersion="2013v3.1">
      <AccountingFeesDetail>
        <CategoryTxt>Benoit and McArdle</CategoryTxt>
        <Amt>2725</Amt>
        <NetInvestmentIncomeAmt>2725</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>2725</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedule" softwareId="13000170" softwareVersion="2013v3.1">
      <InvestmentsCorporateStockGrp>
        <StockNm>ANALOG DEVICES</StockNm>
        <EOYBookValueAmt>29777</EOYBookValueAmt>
        <EOYFMVAmt>86581</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DOVER CORP</StockNm>
        <EOYBookValueAmt>37750</EOYBookValueAmt>
        <EOYFMVAmt>96540</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GENERAL ELECTRIC</StockNm>
        <EOYBookValueAmt>108070</EOYBookValueAmt>
        <EOYFMVAmt>103711</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>JOHNSON &amp; JOHNSON</StockNm>
        <EOYBookValueAmt>27658</EOYBookValueAmt>
        <EOYFMVAmt>64113</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>A T &amp; T</StockNm>
        <EOYBookValueAmt>64655</EOYBookValueAmt>
        <EOYFMVAmt>77352</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Jeffries Group</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MERCK</StockNm>
        <EOYBookValueAmt>61164</EOYBookValueAmt>
        <EOYFMVAmt>50050</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PROCTER &amp; GAMBLE</StockNm>
        <EOYBookValueAmt>35302</EOYBookValueAmt>
        <EOYFMVAmt>65128</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Leucadia National</StockNm>
        <EOYBookValueAmt>56169</EOYBookValueAmt>
        <EOYFMVAmt>85020</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Mosaic</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ENCANA</StockNm>
        <EOYBookValueAmt>56593</EOYBookValueAmt>
        <EOYFMVAmt>81225</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PLUM CREEK TIMBER</StockNm>
        <EOYBookValueAmt>46491</EOYBookValueAmt>
        <EOYFMVAmt>79067</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>EXXON MOBIL</StockNm>
        <EOYBookValueAmt>22022</EOYBookValueAmt>
        <EOYFMVAmt>60720</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PepsiCo</StockNm>
        <EOYBookValueAmt>54649</EOYBookValueAmt>
        <EOYFMVAmt>82940</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Transcanada</StockNm>
        <EOYBookValueAmt>33670</EOYBookValueAmt>
        <EOYFMVAmt>68490</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NOVARTIS AG SPONSORED ADR</StockNm>
        <EOYBookValueAmt>51101</EOYBookValueAmt>
        <EOYFMVAmt>80380</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WATERS CORPORATION</StockNm>
        <EOYBookValueAmt>23764</EOYBookValueAmt>
        <EOYFMVAmt>60000</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TORONTO DOMINION BANK ONTARIO</StockNm>
        <EOYBookValueAmt>38334</EOYBookValueAmt>
        <EOYFMVAmt>88586</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Adobe Systems</StockNm>
        <EOYBookValueAmt>23966</EOYBookValueAmt>
        <EOYFMVAmt>53891</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Church &amp; Dwight</StockNm>
        <EOYBookValueAmt>18213</EOYBookValueAmt>
        <EOYFMVAmt>66280</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Glacier Bancorp</StockNm>
        <EOYBookValueAmt>46061</EOYBookValueAmt>
        <EOYFMVAmt>104265</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Chevron Texaco</StockNm>
        <EOYBookValueAmt>53624</EOYBookValueAmt>
        <EOYFMVAmt>99928</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Illinois Tool Works</StockNm>
        <EOYBookValueAmt>44573</EOYBookValueAmt>
        <EOYFMVAmt>84080</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Occidental Petroleum Corp</StockNm>
        <EOYBookValueAmt>40201</EOYBookValueAmt>
        <EOYFMVAmt>71325</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Privatebancorp</StockNm>
        <EOYBookValueAmt>52220</EOYBookValueAmt>
        <EOYFMVAmt>51600</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Expeditors Intl Wash</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>J G Boswell</StockNm>
        <EOYBookValueAmt>34131</EOYBookValueAmt>
        <EOYFMVAmt>44000</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MSC Industrial Direct</StockNm>
        <EOYBookValueAmt>20362</EOYBookValueAmt>
        <EOYFMVAmt>40435</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Realty Income Corp</StockNm>
        <EOYBookValueAmt>41097</EOYBookValueAmt>
        <EOYFMVAmt>67194</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Safeguard Scientifics</StockNm>
        <EOYBookValueAmt>35780</EOYBookValueAmt>
        <EOYFMVAmt>40180</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CENOVUS ENERGY</StockNm>
        <EOYBookValueAmt>18739</EOYBookValueAmt>
        <EOYFMVAmt>71625</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GOLDMAN SACHS 6.2% PFD</StockNm>
        <EOYBookValueAmt>71227</EOYBookValueAmt>
        <EOYFMVAmt>67500</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>POTASH CORP OF SASKATCHEWAN</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Boston Private Financial 6.95% Pfd</StockNm>
        <EOYBookValueAmt>12609</EOYBookValueAmt>
        <EOYFMVAmt>10675</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>JP Morgan Chase</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Gentex</StockNm>
        <EOYBookValueAmt>63967</EOYBookValueAmt>
        <EOYFMVAmt>98940</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Vanguard St Inv Grade</StockNm>
        <EOYBookValueAmt>89830</EOYBookValueAmt>
        <EOYFMVAmt>88659</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Wells Fargo Pref Stock ETF</StockNm>
        <EOYBookValueAmt>46318</EOYBookValueAmt>
        <EOYFMVAmt>39420</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Charles Schwab Corp</StockNm>
        <EOYBookValueAmt>78956</EOYBookValueAmt>
        <EOYFMVAmt>130000</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>HSBC Holdings 8% Pfd</StockNm>
        <EOYBookValueAmt>13959</EOYBookValueAmt>
        <EOYFMVAmt>13470</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>M &amp; T Capital Trust 8.5% Pfd</StockNm>
        <EOYBookValueAmt>12984</EOYBookValueAmt>
        <EOYFMVAmt>13000</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Metlife Inc B 6.50% Pfd</StockNm>
        <EOYBookValueAmt>12699</EOYBookValueAmt>
        <EOYFMVAmt>12450</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Paychex Inc</StockNm>
        <EOYBookValueAmt>41995</EOYBookValueAmt>
        <EOYFMVAmt>45530</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>RBS Capital Funding Pfd</StockNm>
        <EOYBookValueAmt>11314</EOYBookValueAmt>
        <EOYFMVAmt>10490</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>US Bancorp</StockNm>
        <EOYBookValueAmt>14799</EOYBookValueAmt>
        <EOYFMVAmt>13150</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Wells Fargo 8% Pfd</StockNm>
        <EOYBookValueAmt>15139</EOYBookValueAmt>
        <EOYFMVAmt>13980</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Atwood Oceanics Inc</StockNm>
        <EOYBookValueAmt>32474</EOYBookValueAmt>
        <EOYFMVAmt>32034</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Oceaneering Intl Inc</StockNm>
        <EOYBookValueAmt>29222</EOYBookValueAmt>
        <EOYFMVAmt>31552</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Duke Realty 6.6% Pfd</StockNm>
        <EOYBookValueAmt>12668</EOYBookValueAmt>
        <EOYFMVAmt>11325</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Vornado Realty 6.625% Pfd</StockNm>
        <EOYBookValueAmt>12744</EOYBookValueAmt>
        <EOYFMVAmt>11510</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Conestoga Small Cap</StockNm>
        <EOYBookValueAmt>25000</EOYBookValueAmt>
        <EOYFMVAmt>26037</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>Walthausen Small Cap</StockNm>
        <EOYBookValueAmt>25000</EOYBookValueAmt>
        <EOYFMVAmt>24686</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherProfessionalFeesSchedule documentId="OtherProfessionalFeesSchedule" softwareId="13000170" softwareVersion="2013v3.1">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>American Research Investment Fees</CategoryTxt>
        <Amt>21371</Amt>
        <NetInvestmentIncomeAmt>21371</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>21371</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="13000170" softwareVersion="2013v3.1">
      <TaxesDetail>
        <CategoryTxt>Commonwealth of Massachusetts</CategoryTxt>
        <Amt>35</Amt>
        <DisbursementsCharitablePrpsAmt>35</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Foreign taxes</CategoryTxt>
        <Amt>2356</Amt>
        <NetInvestmentIncomeAmt>2356</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>