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            <BusinessNameLine1>DETROIT INSTITUTE OF ARTS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>5200 WOODWARD AVENUE</AddressLine1>
            <City>DETROIT</City>
            <State>MI</State>
            <ZIPCode>48202</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(vi)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>FUNDS FOR EDUCATION WING</PurposeOfGrantOrContribution>
          <Amount>500000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>WIGS 4 KIDS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>30126 HARPER</AddressLine1>
            <City>ST CLAIR SHORES</City>
            <State>MI</State>
            <ZIPCode>48082</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>509(a)(2)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>45000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BEYOND BASICS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 7</AddressLine1>
            <City>BLOOMFIELD HILLS</City>
            <State>MI</State>
            <ZIPCode>48304</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>509(a)(2)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>150000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>GLEANERS COMMUNITY FOOD BANK</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>21462 MOUND ROAD</AddressLine1>
            <City>WARREN</City>
            <State>MI</State>
            <ZIPCode>48091</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(vi)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>50000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SALVATION ARMY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>16130 NORTHLAND DRIVE</AddressLine1>
            <City>SOUTHFIELD</City>
            <State>MI</State>
            <ZIPCode>48076</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>509(a)(3)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GERNERAL</PurposeOfGrantOrContribution>
          <Amount>80000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>IMMACULATE CONCEPTION HIGH SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>7043 CHURCH ROAD</AddressLine1>
            <City>FAIR HAVEN</City>
            <State>MI</State>
            <ZIPCode>48023</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>RELIGIOUS ENTITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>STUDENT SCHOLARSHIPS</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>LOYOLA HIGH SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>15325 PINEHURST</AddressLine1>
            <City>DETROIT</City>
            <State>MI</State>
            <ZIPCode>48238</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>GOVERNMENT ENTITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>FUNDS FOR TEACHER SALARIES AND BENEFITS</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BENZIE AREA CHRISTIAN NEIGHBORS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2804 BENZIE HIGHWAY</AddressLine1>
            <AddressLine2>PO BOX 93</AddressLine2>
            <City>BENZONIA</City>
            <State>MI</State>
            <ZIPCode>49616</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(vi)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>20000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HOLLEY EAR INSTITUTE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>22151 MOROSS SUITE 223</AddressLine1>
            <City>DETROIT</City>
            <State>MI</State>
            <ZIPCode>48236</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(iii)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>50000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>FIRST WORD SOCIETYWILLIAM BEAUMONT HOSPITAL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>3501 W THIRTEEN MILE ROAD</AddressLine1>
            <City>ROYAL OAK</City>
            <State>MI</State>
            <ZIPCode>48073</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(iii)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MICHIGAN CANCER SOCIETY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1755 ABBEY ROAD</AddressLine1>
            <City>EAST LANSING</City>
            <State>MI</State>
            <ZIPCode>48823</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(vi)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>FUNDS FOR RESEARCH</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SPECIAL OLYMPICS MICHIGAN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>CENTRAL MICHIGAN UNIVERSITY</AddressLine1>
            <City>MT PLEASANT</City>
            <State>MI</State>
            <ZIPCode>48859</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(vi)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>TRAILER</PurposeOfGrantOrContribution>
          <Amount>5500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MT CLEMENS FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>49 MACOMB PLACE SUITE 28</AddressLine1>
            <City>MT CLEMENS</City>
            <State>MI</State>
            <ZIPCode>48043</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(vi)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BENZIE COUNTY COAT DRIVE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>c/o Platte River Elementary</AddressLine1>
            <AddressLine2>11434 Main Street</AddressLine2>
            <City>Honor</City>
            <State>MI</State>
            <ZIPCode>49640</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>GOVERNMENT ENTITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>22302</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>AMERICAN CANCER SOCIETY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>20450 Civic Center Drive</AddressLine1>
            <City>Southfield</City>
            <State>MI</State>
            <ZIPCode>48076</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(vi)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>6000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MISC GIFTS UNDER 1000</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>VARIOUS</AddressLine1>
            <City>VARIOUS</City>
            <State>MI</State>
            <ZIPCode>48036</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>MISCELLANEOUS</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>2332</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>PAUL OLIVER HOSPITAL FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>210 BEAUMONT PLACE</AddressLine1>
            <City>TRAVERSE CITY</City>
            <State>MI</State>
            <ZIPCode>49684</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(vi)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>FUNDS FOR CT SCANNER</PurposeOfGrantOrContribution>
          <Amount>500000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>FORGOTTEN HARVEST</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>21800 GREENFIELD ROAD</AddressLine1>
            <City>OAK PARK</City>
            <State>MI</State>
            <ZIPCode>48237</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>509(a)(2)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>FUNDS FOR TWO TRAILERS</PurposeOfGrantOrContribution>
          <Amount>156800</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>YMCA SCHOOL OF DETROIT</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1401 BROADWAY SUITE 3A</AddressLine1>
            <City>DETROIT</City>
            <State>MI</State>
            <ZIPCode>48226</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(vi)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>150000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CAPUCHINS SOUP KITCHEN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1820 MT ELLIOTT</AddressLine1>
            <City>DETROIT</City>
            <State>MI</State>
            <ZIPCode>48207</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>RELIGIOUS ENTITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>50000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>RACQUET UP DETROIT</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 11404</AddressLine1>
            <City>DETROIT</City>
            <State>MI</State>
            <ZIPCode>48211</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>170(b)(1)(A)(vi)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MACOMB CHARITABLE FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>18215 24 MILE ROAD</AddressLine1>
            <City>MACOMB</City>
            <State>MI</State>
            <ZIPCode>48042</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>509(a)(2)</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CITY OF NEW BALTIMORE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>BRANDENBURG PARK</AddressLine1>
            <City>NEW BALTIMIORE</City>
            <State>MI</State>
            <ZIPCode>48047</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>GOVERNMENT ENTITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SPLASH PARK</PurposeOfGrantOrContribution>
          <Amount>226205</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>2141639</TotGrantOrContriPaidDuringYear>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <FeesContractsFromGovtAgencies />
        <MembershipDuesAndAssessments />
        <IntOnSavingsAndTempCashInvst>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>226</ExclusionAmount>
        </IntOnSavingsAndTempCashInvst>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>878067</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <NetRentalIncmReDebtFincdProp />
        <NetRntlIncmReNotDebtFincdProp>
          <ExclusionCode>16</ExclusionCode>
          <ExclusionAmount>-18</ExclusionAmount>
        </NetRntlIncmReNotDebtFincdProp>
        <NetRentalIncmPersonalProperty />
        <OtherInvestmentIncomePartVII />
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>-76953</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <NetIncomeLossFromSpecialEvents />
        <GrossProfitLossSalesOfInvntry />
        <OtherRevenueDescribed>
          <Description>K-1 PARTNERSHIP INCOME</Description>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>41236</ExclusionAmount>
        </OtherRevenueDescribed>
        <OtherRevenueDescribed>
          <Description>INTEREST FROM NOTES RECEIVABLE</Description>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>332978</ExclusionAmount>
        </OtherRevenueDescribed>
        <SubtotalsPartXVIA>
          <ExclusionAmount>1175536</ExclusionAmount>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>1175536</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>MELLON BANK - FIXED INCOME</NameOfBond>
        <EOYBookValue>10281198</EOYBookValue>
        <EOYFMV>10711839</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>INVESTMENT IN WINDWARD</NameOfBond>
        <EOYBookValue>931492</EOYBookValue>
        <EOYFMV>994691</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>WINDWARD DIV.</NameOfBond>
        <EOYBookValue>518100</EOYBookValue>
        <EOYFMV>541639</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>BLUESTEIN</NameOfBond>
        <EOYBookValue>7515675</EOYBookValue>
        <EOYFMV>7439463</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorpStock>
        <NameOfStock>INVESTMENT IN WINWARD</NameOfStock>
        <EOYBookValue>1546828</EOYBookValue>
        <EOYFMV>1736222</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>INVESTMENT IN PIMCO</NameOfStock>
        <EOYBookValue>33131</EOYBookValue>
        <EOYFMV>49330</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>BLUESTEIN</NameOfStock>
        <EOYBookValue>1801909</EOYBookValue>
        <EOYFMV>1979367</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>WINDWARD DIV.</NameOfStock>
        <EOYBookValue>223268</EOYBookValue>
        <EOYFMV>253981</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="InvOtherSch2">
      <InvestmentsOther>
        <CategoryOrItem>INVESTMENT IN BENCHMARK</CategoryOrItem>
        <BookValue>3878269</BookValue>
        <EOYFMV>4059160</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>INVESTMENT IN WINDWARD</CategoryOrItem>
        <BookValue>152277</BookValue>
        <EOYFMV>218292</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>INVESTMENT IN SIGULAR GUFF</CategoryOrItem>
        <BookValue>2125544</BookValue>
        <EOYFMV>2532957</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>INVESTMENT IN GOTTEX</CategoryOrItem>
        <BookValue>356832</BookValue>
        <EOYFMV>212275</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>WINDWARD DIV.</CategoryOrItem>
        <BookValue>37270</BookValue>
        <EOYFMV>39616</EOYFMV>
      </InvestmentsOther>
      <InvestmentsOther>
        <CategoryOrItem>BLUESTEIN</CategoryOrItem>
        <BookValue>993883</BookValue>
        <EOYFMV>1057270</EOYFMV>
      </InvestmentsOther>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="LandEtcSch2" />
    <LegalFeesSchedule documentId="LegalFeesSch">
      <LegalFees>
        <Category>LEGAL/OTHER PROFESSIONAL FEES</Category>
        <Amount>57081</Amount>
        <DisbursementsCharitablePrps>57081</DisbursementsCharitablePrps>
      </LegalFees>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="OtherAssetsSch">
      <OtherAssets>
        <Description>TAXES (REFUNDABLE)</Description>
        <BOYBookValue>19629</BOYBookValue>
        <EOYBookValue>8629</EOYBookValue>
        <EOYFMV>8629</EOYFMV>
      </OtherAssets>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpenses>
        <Description>GASOLINE/MILEAGE</Description>
        <RevenueAndExpensesPerBooks>6358</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>6358</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>OFFICE EXPENSE</Description>
        <RevenueAndExpensesPerBooks>910</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>910</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>OTHER TRADE/BUSINESS EXPENSE</Description>
        <RevenueAndExpensesPerBooks>219</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>219</NetInvestmentIncome>
      </OtherExpenses>
      <OtherExpenses>
        <Description>OTHER PORTFOLIO DEDUCTIONS</Description>
        <RevenueAndExpensesPerBooks>47520</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>47520</NetInvestmentIncome>
      </OtherExpenses>
      <OtherExpenses>
        <Description>CUSTODIAN FEES</Description>
        <RevenueAndExpensesPerBooks>98540</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>98540</NetInvestmentIncome>
      </OtherExpenses>
      <OtherExpenses>
        <Description>MISC. SUPPLIES</Description>
        <RevenueAndExpensesPerBooks>409</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>409</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>NON DEDUCTIBLE EXPENSES</Description>
        <RevenueAndExpensesPerBooks>178</RevenueAndExpensesPerBooks>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncome>
        <Description>INCOME FROM 1256 CONTRACTS</Description>
        <RevenueAndExpensesPerBooks>-866</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>-866</NetInvestmentIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>INCOME FROM 988 CONTRACTS</Description>
        <RevenueAndExpensesPerBooks>-1846</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>-1846</NetInvestmentIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>INCOME FROM K-1 PARTNERSHIPS</Description>
        <RevenueAndExpensesPerBooks>41107</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>111567</NetInvestmentIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>OTHER PORTFOLIO INCOME</Description>
        <RevenueAndExpensesPerBooks>1731</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>1731</NetInvestmentIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>RENTAL INCOME (NET)</Description>
        <RevenueAndExpensesPerBooks>-18</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>-18</NetInvestmentIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>ROYALTY INCOME</Description>
        <RevenueAndExpensesPerBooks>1107</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>1107</NetInvestmentIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>SWAP INCOME</Description>
        <RevenueAndExpensesPerBooks>3</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>3</NetInvestmentIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>INTEREST FROM NOTES RECEIVABLE</Description>
        <RevenueAndExpensesPerBooks>332978</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>332978</NetInvestmentIncome>
      </OtherIncome>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="OtherLiabSch">
      <OtherLiabilities>
        <Description>LOAN PAYABLE</Description>
        <BOYBookValue>8363000</BOYBookValue>
        <EOYBookValue>9963000</EOYBookValue>
      </OtherLiabilities>
    </OtherLiabilitiesSchedule>
    <OtherNotesLoansRcvblShortSch2 documentId="OthNoteLoanRcvbShrt2">
      <OtherNotesLoansRcvblShort>
        <NameOf501c3Organization>
          <BusinessNameLine1>NEW URBAN LEARNING</BusinessNameLine1>
        </NameOf501c3Organization>
        <BalanceDue>5637403</BalanceDue>
      </OtherNotesLoansRcvblShort>
      <OtherNotesLoansRcvblShort>
        <NameOf501c3Organization>
          <BusinessNameLine1>BEAUMONT</BusinessNameLine1>
        </NameOf501c3Organization>
        <BalanceDue>5000000</BalanceDue>
      </OtherNotesLoansRcvblShort>
      <OtherNotesLoansRcvblShort>
        <NameOf501c3Organization>
          <BusinessNameLine1>NEW PARADIGM</BusinessNameLine1>
        </NameOf501c3Organization>
        <BalanceDue>199022</BalanceDue>
      </OtherNotesLoansRcvblShort>
    </OtherNotesLoansRcvblShortSch2>
    <TaxesSchedule documentId="TaxesSchedule">
      <Taxes>
        <Category>FOREIGN TAXES</Category>
        <Amount>224</Amount>
        <NetInvestmentIncome>224</NetInvestmentIncome>
      </Taxes>
      <Taxes>
        <Category>FEDERAL TAXES</Category>
        <Amount>11000</Amount>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>