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          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITY</PurposeOfGrantOrContribution>
          <Amount>4000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ANTI-DEFAMATION LEAGUE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>605 THIRD AVENUE</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10158</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITY</PurposeOfGrantOrContribution>
          <Amount>1250</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SEPHARDIC BIKUR HOLIM</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>425 KINGS HIGHWAY</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11223</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITY</PurposeOfGrantOrContribution>
          <Amount>2600</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>EDMOND J SAFRA SYNAGOGUE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>11 EAST 63RD STREET</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10065</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITY</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HALA KEHILA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>34 WEST 33RD STREET</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10001</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITY</PurposeOfGrantOrContribution>
          <Amount>6000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>THE ANGEL FUND</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>379 KINGS HIGHWAY</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11223</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITY</PurposeOfGrantOrContribution>
          <Amount>3500</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>92551</TotGrantOrContriPaidDuringYear>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <FeesContractsFromGovtAgencies />
        <MembershipDuesAndAssessments />
        <IntOnSavingsAndTempCashInvst>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>170</ExclusionAmount>
        </IntOnSavingsAndTempCashInvst>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>103976</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <NetRentalIncmReDebtFincdProp />
        <NetRntlIncmReNotDebtFincdProp>
          <ExclusionCode>16</ExclusionCode>
          <ExclusionAmount>39674</ExclusionAmount>
        </NetRntlIncmReNotDebtFincdProp>
        <NetRentalIncmPersonalProperty />
        <OtherInvestmentIncomePartVII />
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>-23061</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <NetIncomeLossFromSpecialEvents />
        <GrossProfitLossSalesOfInvntry />
        <SubtotalsPartXVIA>
          <ExclusionAmount>120759</ExclusionAmount>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>120759</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>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsCorpBondsSchedule documentId="InvestCorpBondsSch">
      <InvestmentsCorpBonds>
        <NameOfBond>STATE OF ISRAEL BONDS</NameOfBond>
        <EOYBookValue>175000</EOYBookValue>
        <EOYFMV>175000</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorpStock>
        <NameOfStock>ALPINE TOTAL DYNAMIC DIV FD</NameOfStock>
        <EOYBookValue>138600</EOYBookValue>
        <EOYFMV>30353</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>BLACKROCK INTL GROWTH &amp; INC TR</NameOfStock>
        <EOYBookValue>133554</EOYBookValue>
        <EOYFMV>81338</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>CIFC CORP.</NameOfStock>
        <EOYBookValue>216200</EOYBookValue>
        <EOYFMV>8100</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>EATON VANCE TAX-MANAGED OPP FD</NameOfStock>
        <EOYBookValue>39307</EOYBookValue>
        <EOYFMV>45122</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>EATON VANCE TAX-MANAGED GLOBAL</NameOfStock>
        <EOYBookValue>89359</EOYBookValue>
        <EOYFMV>99825</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>HENDERSON GL-EUROPEAN FOCUS FD</NameOfStock>
        <EOYBookValue>239966</EOYBookValue>
        <EOYFMV>160192</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>ING GLOBAL EQ DIV &amp; PRM OPP FD</NameOfStock>
        <EOYBookValue>50474</EOYBookValue>
        <EOYFMV>27648</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>NUVEEN EQ PREM ADVANTAGED FD</NameOfStock>
        <EOYBookValue>66923</EOYBookValue>
        <EOYFMV>57300</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>ZWEIG FUND INC.</NameOfStock>
        <EOYBookValue>51095</EOYBookValue>
        <EOYFMV>36685</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>WELLS FARGO CAPITAL XII</NameOfStock>
        <EOYBookValue>200000</EOYBookValue>
        <EOYFMV>207920</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>ALLIANZ SE 8.375% PFD</NameOfStock>
        <EOYBookValue>160000</EOYBookValue>
        <EOYFMV>163398</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>BANK OF AMERICA 8.2% PFD SER H</NameOfStock>
        <EOYBookValue>41250</EOYBookValue>
        <EOYFMV>36465</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>BLACKROCK ENHANCED CAPITAL &amp; I</NameOfStock>
        <EOYBookValue>62658</EOYBookValue>
        <EOYFMV>38425</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>DEUTSCHE BANK 8.05% CONT CAP T</NameOfStock>
        <EOYBookValue>200000</EOYBookValue>
        <EOYFMV>182480</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>JP MORGAN CHASE 8.625% PFD</NameOfStock>
        <EOYBookValue>42500</EOYBookValue>
        <EOYFMV>46920</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>VISA INC</NameOfStock>
        <EOYBookValue>4400</EOYBookValue>
        <EOYFMV>10153</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>CHIMERA INVESTMENT CORP</NameOfStock>
        <EOYBookValue>58126</EOYBookValue>
        <EOYFMV>37023</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>BLACKROCK RES &amp; COMMODIT STRAT</NameOfStock>
        <EOYBookValue>50175</EOYBookValue>
        <EOYFMV>33200</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>CYS INVESTMENTS INC.</NameOfStock>
        <EOYBookValue>27796</EOYBookValue>
        <EOYFMV>28908</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <LandEtcSchedule2 documentId="LandEtcSch2" />
    <OtherAssetsSchedule documentId="OtherAssetsSch">
      <OtherAssets>
        <Description>ROYAL PROMENADE LLC</Description>
        <BOYBookValue>-93111</BOYBookValue>
        <EOYBookValue>-88316</EOYBookValue>
        <EOYFMV>120000</EOYFMV>
      </OtherAssets>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpenses>
        <Description>NYS FILING FEES</Description>
        <RevenueAndExpensesPerBooks>250</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>250</DisbursementsCharitablePrps>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncome>
        <Description>INCOME FROM PARTNERSHIP-ROYAL PROMENADE</Description>
      </OtherIncome>
      <OtherIncome>
        <Description>EIN: 13-4119440</Description>
        <RevenueAndExpensesPerBooks>40978</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>40978</NetInvestmentIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>INCOME FROM PARTNERSHIP-WAYNE TOWNE</Description>
      </OtherIncome>
      <OtherIncome>
        <Description>CENTER ASSOCIATES LLC EIN: 38-3688224</Description>
        <RevenueAndExpensesPerBooks>-1304</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>-1304</NetInvestmentIncome>
      </OtherIncome>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="TaxesSchedule">
      <Taxes>
        <Category>FOREIGN TAXES PAID</Category>
        <Amount>635</Amount>
        <NetInvestmentIncome>635</NetInvestmentIncome>
      </Taxes>
      <Taxes>
        <Category>STATE TAXES</Category>
        <Amount>1931</Amount>
      </Taxes>
      <Taxes>
        <Category>FEDERAL TAXES</Category>
        <Amount>3101</Amount>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>