﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2012v2.1">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2013-05-13T08:31:35-05:00</Timestamp>
    <TaxPeriodEndDate>2012-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>NEIDICH &amp; COMPANY</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>200 CENTRAL AVE SUITE 102</AddressLine1>
        <City>MOUNTAINSIDE</City>
        <State>NJ</State>
        <ZIPCode>070921961</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990PF</ReturnType>
    <TaxPeriodBeginDate>2012-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>223553441</EIN>
      <Name>
        <BusinessNameLine1>ZS&amp;M WILF FOUNDATION INC</BusinessNameLine1>
        <BusinessNameLine2>(FORMERLY Z&amp;M FOUNDATION INC</BusinessNameLine2>
      </Name>
      <NameControl>ZS&amp;M</NameControl>
      <USAddress>
        <AddressLine1>200 CENTRAL AVENUE</AddressLine1>
        <AddressLine2>ROOM/SUITE 102</AddressLine2>
        <City>MOUNTAINSIDE</City>
        <State>NJ</State>
        <ZIPCode>07092</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>ZYGMUNT WILF</Name>
      <Title>TRUSTEE</Title>
      <DateSigned>2013-04-19</DateSigned>
    </Officer>
    <Preparer>
      <Name>CHARLES TARLOWE</Name>
      <Phone>9086547010</Phone>
      <DatePrepared>2013-05-13</DatePrepared>
    </Preparer>
    <TaxYear>2012</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="11">
    <IRS990PF documentId="RetDoc2">
      <ExemptPF>X</ExemptPF>
      <FMVAssetsEOY>113875824</FMVAssetsEOY>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AnalysisOfRevenueAndExpenses>
        <ContriReceivedRevAndExpnss>5204787</ContriReceivedRevAndExpnss>
        <InterestOnSavingsRevAndExpnss>3577040</InterestOnSavingsRevAndExpnss>
        <InterestOnSavingsNetInvstIncm>3577040</InterestOnSavingsNetInvstIncm>
        <NetGainSaleAssetsRevAndExpnss>-1326351</NetGainSaleAssetsRevAndExpnss>
        <GrossSalesPrice>12079451</GrossSalesPrice>
        <TotalRevenueAndExpenses>7455476</TotalRevenueAndExpenses>
        <TotalNetInvestmentIncome>3577040</TotalNetInvestmentIncome>
        <AccountingFeesRevAndExpnss referenceDocumentId="RetDoc4">5500</AccountingFeesRevAndExpnss>
        <AccountingFeesNetInvstIncm>5500</AccountingFeesNetInvstIncm>
        <TaxesRevAndExpnss referenceDocumentId="RetDoc12">73282</TaxesRevAndExpnss>
        <OtherExpensesRevAndExpnss referenceDocumentId="RetDoc10">814</OtherExpensesRevAndExpnss>
        <OtherExpensesNetInvstIncm>814</OtherExpensesNetInvstIncm>
        <TotOprExpensesRevAndExpnss>79596</TotOprExpensesRevAndExpnss>
        <TotOprExpensesNetInvstIncm>6314</TotOprExpensesNetInvstIncm>
        <TotOprExpensesDsbrsChrtblPrps>0</TotOprExpensesDsbrsChrtblPrps>
        <ContriGiftsPaidRevAndExpnss>4219847</ContriGiftsPaidRevAndExpnss>
        <ContriGiftsPaidDsbrsChrtblPrps>4219847</ContriGiftsPaidDsbrsChrtblPrps>
        <TotalExpensesRevAndExpnss>4299443</TotalExpensesRevAndExpnss>
        <TotalExpensesNetInvstIncm>6314</TotalExpensesNetInvstIncm>
        <TotalExpensesDsbrsChrtblPrps>4219847</TotalExpensesDsbrsChrtblPrps>
        <ExcessOfRevenueOverExpenses>3156033</ExcessOfRevenueOverExpenses>
        <NetInvestmentIncome>3570726</NetInvestmentIncome>
      </AnalysisOfRevenueAndExpenses>
      <BalanceSheets>
        <CashBOY>1481323</CashBOY>
        <CashEOY>1359593</CashEOY>
        <CashEOYFMV>1359593</CashEOYFMV>
        <InvestmentsGovtObligBOY>11099554</InvestmentsGovtObligBOY>
        <InvestmentsGovtObligEOY referenceDocumentId="RetDoc8">8286975</InvestmentsGovtObligEOY>
        <InvestmentsGovtObligEOYFMV>8312650</InvestmentsGovtObligEOYFMV>
        <InvestmentsCorpStockBOY>49221771</InvestmentsCorpStockBOY>
        <InvestmentsCorpStockEOY referenceDocumentId="RetDoc7">51807781</InvestmentsCorpStockEOY>
        <InvestmentsCorpStockEOYFMV>70516727</InvestmentsCorpStockEOYFMV>
        <InvestmentsCorpBondsBOY>22482373</InvestmentsCorpBondsBOY>
        <InvestmentsCorpBondsEOY referenceDocumentId="RetDoc6">29457398</InvestmentsCorpBondsEOY>
        <InvestmentsCorpBondsEOYFMV>31048699</InvestmentsCorpBondsEOYFMV>
        <InvestmentsOtherBOY>6066348</InvestmentsOtherBOY>
        <InvestmentsOtherEOY referenceDocumentId="RetDoc9">2638155</InvestmentsOtherEOY>
        <InvestmentsOtherEOYFMV>2638155</InvestmentsOtherEOYFMV>
        <TotalAssetsBOY>90351369</TotalAssetsBOY>
        <TotalAssetsEOY>93549902</TotalAssetsEOY>
        <TotalAssetsEOYFMV>113875824</TotalAssetsEOYFMV>
        <AccountsPayableBOY>31000</AccountsPayableBOY>
        <AccountsPayableEOY>73000</AccountsPayableEOY>
        <TotalLiabilitiesBOY>31000</TotalLiabilitiesBOY>
        <TotalLiabilitiesEOY>73000</TotalLiabilitiesEOY>
        <OrgThatDoNotFollowSFAS117>X</OrgThatDoNotFollowSFAS117>
        <RetainedEarningsBOY>90320369</RetainedEarningsBOY>
        <RetainedEarningsEOY>93476902</RetainedEarningsEOY>
        <TotalNetAssetsBOY>90320369</TotalNetAssetsBOY>
        <TotalNetAssetsEOY>93476902</TotalNetAssetsEOY>
        <TotalLiabilitiesNetAssetsBOY>90351369</TotalLiabilitiesNetAssetsBOY>
        <TotalLiabilitiesNetAssetsEOY>93549902</TotalLiabilitiesNetAssetsEOY>
      </BalanceSheets>
      <ChangesInNetAssetsFundBalances>
        <TotalNetAssetsFundBalancesBOY>90320369</TotalNetAssetsFundBalancesBOY>
        <ExcessOfRevenueOverExpenses>3156033</ExcessOfRevenueOverExpenses>
        <OtherIncreases referenceDocumentId="RetDoc11">500</OtherIncreases>
        <Subtotal>93476902</Subtotal>
        <TotalNetAssetsFundBalancesEOY>93476902</TotalNetAssetsFundBalancesEOY>
      </ChangesInNetAssetsFundBalances>
      <CapitalGainsAndLosses>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>600 CALL IBM 165 APR</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2012-02-07</DateAcquired>
          <DateSold>2012-12-13</DateSold>
          <GrossSalesPrice>1867104</GrossSalesPrice>
          <CostOrOtherBasis>1749706</CostOrOtherBasis>
          <GainOrLoss>117398</GainOrLoss>
          <GainsMinusExcessOrLosses>117398</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>20000 FHLMC 2714 CC 5 31</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2003-12-18</DateAcquired>
          <DateSold>2012-12-17</DateSold>
          <GrossSalesPrice>20000</GrossSalesPrice>
          <CostOrOtherBasis>19450</CostOrOtherBasis>
          <GainOrLoss>550</GainOrLoss>
          <GainsMinusExcessOrLosses>550</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>600 CALL IBM 175 JULY SHORT</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2012-05-03</DateAcquired>
          <DateSold>2012-02-08</DateSold>
          <GrossSalesPrice>1324692</GrossSalesPrice>
          <CostOrOtherBasis>1954508</CostOrOtherBasis>
          <GainOrLoss>-629816</GainOrLoss>
          <GainsMinusExcessOrLosses>-629816</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>8000 PUBLIC STORAGE 6.18 PFD</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2005-02-15</DateAcquired>
          <DateSold>2012-12-27</DateSold>
          <GrossSalesPrice>200000</GrossSalesPrice>
          <CostOrOtherBasis>200000</CostOrOtherBasis>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>10000 USB CAPITAL VIII 6.5 PFD</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2005-12-21</DateAcquired>
          <DateSold>2012-02-22</DateSold>
          <GrossSalesPrice>250000</GrossSalesPrice>
          <CostOrOtherBasis>250000</CostOrOtherBasis>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>10000 OCCIDENTAL PETROLEUM</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2007-12-24</DateAcquired>
          <DateSold>2012-12-13</DateSold>
          <GrossSalesPrice>757810</GrossSalesPrice>
          <CostOrOtherBasis>760700</CostOrOtherBasis>
          <GainOrLoss>-2890</GainOrLoss>
          <GainsMinusExcessOrLosses>-2890</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>10000 USB CAPITAL X 6.5 PFD</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2006-04-15</DateAcquired>
          <DateSold>2012-02-22</DateSold>
          <GrossSalesPrice>250000</GrossSalesPrice>
          <CostOrOtherBasis>250000</CostOrOtherBasis>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>6000 PETRABRAS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2007-12-24</DateAcquired>
          <DateSold>2012-12-13</DateSold>
          <GrossSalesPrice>114352</GrossSalesPrice>
          <CostOrOtherBasis>323370</CostOrOtherBasis>
          <GainOrLoss>-209018</GainOrLoss>
          <GainsMinusExcessOrLosses>-209018</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>250000 NOKIA 5.25 19</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2010-12-13</DateAcquired>
          <DateSold>2012-04-12</DateSold>
          <GrossSalesPrice>227963</GrossSalesPrice>
          <CostOrOtherBasis>268730</CostOrOtherBasis>
          <GainOrLoss>-40767</GainOrLoss>
          <GainsMinusExcessOrLosses>-40767</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>1357735 GNMA 15 KA 5 37</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2009-03-30</DateAcquired>
          <DateSold>2012-12-31</DateSold>
          <GrossSalesPrice>1357737</GrossSalesPrice>
          <CostOrOtherBasis>1408650</CostOrOtherBasis>
          <GainOrLoss>-50913</GainOrLoss>
          <GainsMinusExcessOrLosses>-50913</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>10000 PNC CAPITAL TRUST 6.125 PFD</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2003-12-11</DateAcquired>
          <DateSold>2012-04-25</DateSold>
          <GrossSalesPrice>250000</GrossSalesPrice>
          <CostOrOtherBasis>250000</CostOrOtherBasis>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>1037465 GNMA 34 MA 4.5 34</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2009-05-29</DateAcquired>
          <DateSold>2012-12-31</DateSold>
          <GrossSalesPrice>1037465</GrossSalesPrice>
          <CostOrOtherBasis>1077018</CostOrOtherBasis>
          <GainOrLoss>-39553</GainOrLoss>
          <GainsMinusExcessOrLosses>-39553</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>406 GENERAL MOTORS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2003-06-26</DateAcquired>
          <DateSold>2012-05-31</DateSold>
          <GrossSalesPrice>8932</GrossSalesPrice>
          <CostOrOtherBasis>47254</CostOrOtherBasis>
          <GainOrLoss>-38322</GainOrLoss>
          <GainsMinusExcessOrLosses>-38322</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>388977 GNMA 15 NH 4 38</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2009-05-19</DateAcquired>
          <DateSold>2012-12-31</DateSold>
          <GrossSalesPrice>388977</GrossSalesPrice>
          <CostOrOtherBasis>401133</CostOrOtherBasis>
          <GainOrLoss>-12156</GainOrLoss>
          <GainsMinusExcessOrLosses>-12156</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>33 INTERCONTINENTAL EXCHANGE</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2011-12-22</DateAcquired>
          <DateSold>2012-05-31</DateSold>
          <GrossSalesPrice>3963</GrossSalesPrice>
          <CostOrOtherBasis>4000</CostOrOtherBasis>
          <GainOrLoss>-37</GainOrLoss>
          <GainsMinusExcessOrLosses>-37</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>127631 GNMA 72 DE 5 32</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2009-03-10</DateAcquired>
          <DateSold>2012-12-31</DateSold>
          <GrossSalesPrice>1276631</GrossSalesPrice>
          <CostOrOtherBasis>1324505</CostOrOtherBasis>
          <GainOrLoss>-47874</GainOrLoss>
          <GainsMinusExcessOrLosses>-47874</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>64400 PEOPLES UNITED FINANCIAL</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2005-12-27</DateAcquired>
          <DateSold>2012-05-31</DateSold>
          <GrossSalesPrice>747236</GrossSalesPrice>
          <CostOrOtherBasis>965969</CostOrOtherBasis>
          <GainOrLoss>-218733</GainOrLoss>
          <GainsMinusExcessOrLosses>-218733</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>567904 GNMA 87 WA 4.5 38</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2009-11-21</DateAcquired>
          <DateSold>2012-12-31</DateSold>
          <GrossSalesPrice>567904</GrossSalesPrice>
          <CostOrOtherBasis>560684</CostOrOtherBasis>
          <GainOrLoss>7220</GainOrLoss>
          <GainsMinusExcessOrLosses>7220</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>6743 SONY</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2004-06-23</DateAcquired>
          <DateSold>2012-05-31</DateSold>
          <GrossSalesPrice>88560</GrossSalesPrice>
          <CostOrOtherBasis>250000</CostOrOtherBasis>
          <GainOrLoss>-161440</GainOrLoss>
          <GainsMinusExcessOrLosses>-161440</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>10000 USB CAPITAL XII 6.3 PFD</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2007-01-25</DateAcquired>
          <DateSold>2012-05-18</DateSold>
          <GrossSalesPrice>250000</GrossSalesPrice>
          <CostOrOtherBasis>250000</CostOrOtherBasis>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>500000 BANK OF AMERICA 5.8 28</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2003-12-22</DateAcquired>
          <DateSold>2012-06-05</DateSold>
          <GrossSalesPrice>500000</GrossSalesPrice>
          <CostOrOtherBasis>500000</CostOrOtherBasis>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>4000 ASBC CAPITAL TRUST 7.625 PFD</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2002-05-22</DateAcquired>
          <DateSold>2012-10-01</DateSold>
          <GrossSalesPrice>100000</GrossSalesPrice>
          <CostOrOtherBasis>100000</CostOrOtherBasis>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>8000 EQUITY RESIDENTIAL 6.48 PFD</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2003-05-20</DateAcquired>
          <DateSold>2012-08-20</DateSold>
          <GrossSalesPrice>200000</GrossSalesPrice>
          <CostOrOtherBasis>200000</CostOrOtherBasis>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>6605 GE CAPITAL V 6.625 PFD</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2002-06-13</DateAcquired>
          <DateSold>2012-11-13</DateSold>
          <GrossSalesPrice>165125</GrossSalesPrice>
          <CostOrOtherBasis>165125</CostOrOtherBasis>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>5000 BNY CAPITAL V 5.95 PFD</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateAcquired>2003-04-21</DateAcquired>
          <DateSold>2012-11-21</DateSold>
          <GrossSalesPrice>125000</GrossSalesPrice>
          <CostOrOtherBasis>125000</CostOrOtherBasis>
        </CapitalGainsAndLossesInfo>
        <CapitalGainNetIncome>-1326351</CapitalGainNetIncome>
        <NetShortTermCapitalGainOrLoss>-512455</NetShortTermCapitalGainOrLoss>
      </CapitalGainsAndLosses>
      <QlfyUndSect4940eForReducedTax>
        <LiableFor4942Tax>false</LiableFor4942Tax>
        <QualifyingDistributionsYear1>4933653</QualifyingDistributionsYear1>
        <NoncharitableAssetsYear1>100287014</NoncharitableAssetsYear1>
        <DistributionRatioYear1>0.049195</DistributionRatioYear1>
        <QualifyingDistributionsYear2>3735076</QualifyingDistributionsYear2>
        <NoncharitableAssetsYear2>84588871</NoncharitableAssetsYear2>
        <DistributionRatioYear2>0.044156</DistributionRatioYear2>
        <QualifyingDistributionsYear3>3792491</QualifyingDistributionsYear3>
        <NoncharitableAssetsYear3>75014778</NoncharitableAssetsYear3>
        <DistributionRatioYear3>0.050557</DistributionRatioYear3>
        <QualifyingDistributionsYear4>3933511</QualifyingDistributionsYear4>
        <NoncharitableAssetsYear4>76135155</NoncharitableAssetsYear4>
        <DistributionRatioYear4>0.051665</DistributionRatioYear4>
        <QualifyingDistributionsYear5>3053584</QualifyingDistributionsYear5>
        <NoncharitableAssetsYear5>82217001</NoncharitableAssetsYear5>
        <DistributionRatioYear5>0.037141</DistributionRatioYear5>
        <TotalDistributionRatio>0.232714</TotalDistributionRatio>
        <AverageDistributionRatio>0.046543</AverageDistributionRatio>
        <NetNoncharitableAssets>107931070</NetNoncharitableAssets>
        <AdjustedNoncharitableAssets>5023436</AdjustedNoncharitableAssets>
        <OnePercentNetInvestmentIncome>35707</OnePercentNetInvestmentIncome>
        <AdjNonchrtblAssetsAndOnePct>5059143</AdjNonchrtblAssetsAndOnePct>
        <QualifyingDistributions>4219847</QualifyingDistributions>
      </QlfyUndSect4940eForReducedTax>
      <ExciseTaxBasedOnInvestmentIncm>
        <InvestmentIncomeExciseTax>71415</InvestmentIncomeExciseTax>
        <Subtotal>71415</Subtotal>
        <TaxBasedOnInvestmentIncome>71415</TaxBasedOnInvestmentIncome>
        <Form2220Attached referenceDocumentId="RetDoc3">X</Form2220Attached>
        <PenaltyForUnderpayment>686</PenaltyForUnderpayment>
        <TaxDue>72101</TaxDue>
      </ExciseTaxBasedOnInvestmentIncm>
      <StatementsRegardingActivities>
        <LegislativePoliticalActivities>false</LegislativePoliticalActivities>
        <MoreThan100Spent>false</MoreThan100Spent>
        <Form1120POLFiled>false</Form1120POLFiled>
        <ActivitiesNotPrevReported>false</ActivitiesNotPrevReported>
        <ChangesToArticlesOrBylaws>false</ChangesToArticlesOrBylaws>
        <UnrelatedBusIncomeOver1000>false</UnrelatedBusIncomeOver1000>
        <TerminationEtc>false</TerminationEtc>
        <RequirementsOfSect508e>true</RequirementsOfSect508e>
        <AtLeast5000InAssets>true</AtLeast5000InAssets>
        <StatesFiledWith>NJ</StatesFiledWith>
        <Form990PFFiledWithAG>true</Form990PFFiledWithAG>
        <PrivateOperatingFoundation>false</PrivateOperatingFoundation>
        <NewSubstantialContributors>false</NewSubstantialContributors>
        <InterestInControlledEntity>false</InterestInControlledEntity>
        <ApplicableInsuranceContract>false</ApplicableInsuranceContract>
        <ComplyWithPublicInspectionRqr>true</ComplyWithPublicInspectionRqr>
        <WebsiteAddress>N/A</WebsiteAddress>
        <BooksInCareOfPersonName>NEIDICH COMPANY</BooksInCareOfPersonName>
        <BooksInCareOfPhoneNumber>9086547010</BooksInCareOfPhoneNumber>
        <BooksInCareOfUSAddress>
          <AddressLine1>200 CENTRAL AVENUE SUITE 102</AddressLine1>
          <City>MOUNTAINSIDE</City>
          <State>NJ</State>
          <ZIPCode>07092</ZIPCode>
        </BooksInCareOfUSAddress>
        <ForeignBank>false</ForeignBank>
      </StatementsRegardingActivities>
      <StatementsRegardingActy4720>
        <SaleOrExchangeWithDsqflyPerson>false</SaleOrExchangeWithDsqflyPerson>
        <BorrowOrLendWithDsqflyPerson>false</BorrowOrLendWithDsqflyPerson>
        <FurnishedGoodsWithDsqflyPerson>false</FurnishedGoodsWithDsqflyPerson>
        <PayCompensationToDsqflyPerson>false</PayCompensationToDsqflyPerson>
        <TransferAssetsToDsqflyPerson>false</TransferAssetsToDsqflyPerson>
        <PaymentToGovernmentOffical>false</PaymentToGovernmentOffical>
        <UndistributedIncomePriorYears>false</UndistributedIncomePriorYears>
        <BusinessHoldings>false</BusinessHoldings>
        <JeopardyInvestments>false</JeopardyInvestments>
        <UncorrectedJeopardyInvestments>false</UncorrectedJeopardyInvestments>
        <InfluenceLegislation>false</InfluenceLegislation>
        <InfluenceElection>false</InfluenceElection>
        <GrantsToIndividuals>false</GrantsToIndividuals>
        <GrantsToOrganizations>false</GrantsToOrganizations>
        <NoncharitablePurpose>false</NoncharitablePurpose>
        <RcvFundsToPayPrsnlBnftContract>false</RcvFundsToPayPrsnlBnftContract>
        <PayPremiumsPrsnlBnftContract>false</PayPremiumsPrsnlBnftContract>
        <ProhibitedTaxShelterTransactn>false</ProhibitedTaxShelterTransactn>
      </StatementsRegardingActy4720>
      <OfcrDirTrusteesKeyEmployeeInfo>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc5">ZYGMUNT WILF</PersonName>
          <USAddress>
            <AddressLine1>820 MORRIS TURNPIKE</AddressLine1>
            <City>SHORT HILLS</City>
            <State>NJ</State>
            <ZIPCode>07078</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>0.50</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc5">MARK WILF</PersonName>
          <USAddress>
            <AddressLine1>820 MORRIS TURNPIKE</AddressLine1>
            <City>SHORT HILLS</City>
            <State>NJ</State>
            <ZIPCode>07078</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>0.50</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc5">JEFFREY WILF</PersonName>
          <USAddress>
            <AddressLine1>820 MORRIS TURNPIKE</AddressLine1>
            <City>SHORT HILLS</City>
            <State>NJ</State>
            <ZIPCode>07078</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>0.50</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc5">JOSEPH WILF</PersonName>
          <USAddress>
            <AddressLine1>820 MORRIS TURNPIKE</AddressLine1>
            <City>SHORT HILLS</City>
            <State>NJ</State>
            <ZIPCode>07078</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>0.10</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc5">ELIZABETH WILF</PersonName>
          <USAddress>
            <AddressLine1>820 MORRIS TURNPIKE</AddressLine1>
            <City>SHORT HILLS</City>
            <State>NJ</State>
            <ZIPCode>07078</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>0.10</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc5">LEONARD WILF</PersonName>
          <USAddress>
            <AddressLine1>820 MORRIS TURNPIKE</AddressLine1>
            <City>SHORT HILLS</City>
            <State>NJ</State>
            <ZIPCode>07078</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>0.10</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc5">JASON WILF</PersonName>
          <USAddress>
            <AddressLine1>820 MORRIS TURNPIKE</AddressLine1>
            <City>SHORT HILLS</City>
            <State>NJ</State>
            <ZIPCode>07078</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>0.10</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName referenceDocumentId="RetDoc5">JONATHAN WILF</PersonName>
          <USAddress>
            <AddressLine1>820 MORRIS TURNPIKE</AddressLine1>
            <City>SHORT HILLS</City>
            <State>NJ</State>
            <ZIPCode>07078</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>0.10</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <CompOfHighestPaidEmplNONE>NONE</CompOfHighestPaidEmplNONE>
        <CompOfHghstPaidCntrctNONE>NONE</CompOfHghstPaidCntrctNONE>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SumOfProgramRelatedInvestments>
        <Description1>N/A</Description1>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>108154232</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>1420458</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>0</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>109574690</TotalFMVOfUnusedAssets>
        <AdjTotalFMVOfUnusedAssets>109574690</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>1643620</CashDeemedCharitable>
        <NetNoncharitableAssets>107931070</NetNoncharitableAssets>
        <MinimumInvestmentReturn>5396554</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>5396554</MinimumInvestmentReturn>
        <TaxBasedOnInvestmentIncome>71415</TaxBasedOnInvestmentIncome>
        <TotalTax>71415</TotalTax>
        <DistributableAmountBeforeAdj>5325139</DistributableAmountBeforeAdj>
        <RecoveriesQlfyDistributions>500</RecoveriesQlfyDistributions>
        <DistributableAmountBeforeDed>5325639</DistributableAmountBeforeDed>
        <DistributableAmountAsAdjusted>5325639</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>4219847</ExpensesAndContributions>
        <QualifyingDistributions>4219847</QualifyingDistributions>
        <AdjQualifyingDistributions>4219847</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>5325639</DistributableAmountAsAdjusted>
        <UndistributedIncomePriorYear>4059082</UndistributedIncomePriorYear>
        <QualifyingDistributions>4219847</QualifyingDistributions>
        <AppliedToYear1>4059082</AppliedToYear1>
        <AppliedToCurrentYear>160765</AppliedToCurrentYear>
        <UndistributedIncomeCY>5164874</UndistributedIncomeCY>
      </UndistributedIncome>
      <SupplementaryInformation>
        <ContributingManager>ZYGMUNT WILF</ContributingManager>
        <ContributingManager>MARK WILF</ContributingManager>
        <OnlyContributesToPreselected>X</OnlyContributesToPreselected>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>PRINCETON UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>330 ALEXANDER ST</AddressLine1>
            <City>PRINCETON</City>
            <State>NJ</State>
            <ZIPCode>08540</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>YESHIVA UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>500 WEST 185TH ST</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10033</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1000000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>PINGRY SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>MARTINSVILLE RD POB 366</AddressLine1>
            <City>MARTINSVILLE</City>
            <State>NJ</State>
            <ZIPCode>08836</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>555000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>NEW YORK UNIVERSITY OF LAW</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>110 WEST THIRD ST</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10012</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>520000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>NEWARK ACADEMY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>91 SOUTH ORANGE AVE</AddressLine1>
            <City>LIVINGSTON</City>
            <State>NJ</State>
            <ZIPCode>07039</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>250000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>GOLDA OCHS ACADEMY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1418 PLEASNAT VALLEY WAY</AddressLine1>
            <City>WEST ORANGE</City>
            <State>NJ</State>
            <ZIPCode>07052</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>205000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>AMERICAN ISRAEL EDUCATION FDN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>251 H STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20001</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>75000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HILLEL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>800 8TH STREET NW</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20001</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>50000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>NATIONAL MUSEUM OF AMER JEWISH HIST</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>101 S INDEPENDENCE MALL E</AddressLine1>
            <City>PHILADELPHIA</City>
            <State>PA</State>
            <ZIPCode>19106</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>50000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>JEWISH FAMILY SERVICE OF CENTRAL NJ</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>655 ESTFIELD AVE</AddressLine1>
            <City>ELIZABETH</City>
            <State>NJ</State>
            <ZIPCode>07208</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>49150</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ANTIDEFAMATION LEAGUE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>70 STERLING PL</AddressLine1>
            <City>TEANECK</City>
            <State>NJ</State>
            <ZIPCode>07666</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>36000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>AMERICAN SOCIETY OF YAD VASHEM</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>500 FIFTH AVE</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10110</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>JEWISH TELEGRAPHIC AGENCY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>330 SEVENTH AVE</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10001</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>15000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CHARITY GLOBAL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>200 VARICK ST SUITE 201</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10014</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>12000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>AMERICAN FRIENDS OF MELITZ</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>5708 PARK HEIGHTS AVE</AddressLine1>
            <City>BALTIMORE</City>
            <State>MD</State>
            <ZIPCode>21215</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CENTER FOR LEARNING &amp; LEADERSHIP</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>440 PARK AVENUE SOUTH</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10016</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CONGREGATION ETZ CHAIM</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1 LAFAYETTE DR</AddressLine1>
            <City>LIVINGSTON</City>
            <State>NJ</State>
            <ZIPCode>07039</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>45135</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MUSEUM OF JEWISH HERITAGE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>36 BATTERY PL</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10280</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>6062</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CHAMAH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>27 WILLIAM ST SUITE 613</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10005</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>2500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DYSAUTONOMIA FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>315 WEST 39TH ST</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10018</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MIDDLE EAST MEDIA &amp; RESEARCH INSTIT</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 27837</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20038</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MINNEAPOLIS JEWSIH DAY SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>4330 CEDAR LAKE RD</AddressLine1>
            <City>MINNEAPOLIS</City>
            <State>MN</State>
            <ZIPCode>55416</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>NATIONAL CONFERANCE ON SOVIET JEWRY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2020 K ST NW SUITE 7800</AddressLine1>
            <City>WASHINGTON</City>
            <State>DC</State>
            <ZIPCode>20006</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SABES JCC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>4330 SOUTH CEDAR LAKE RD</AddressLine1>
            <City>MINNEAPOLIS</City>
            <State>MN</State>
            <ZIPCode>55416</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>JEWISH FEDERATION OF GREATER METRO</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>901 ROUTE 10</AddressLine1>
            <City>WHIPPANY</City>
            <State>NJ</State>
            <ZIPCode>07981</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1250000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>AMER JEWISH JOINT DISTRIBUTION COMM</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>132 EAST 43RD STREET</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10017</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CITY MEALS ON WHEELS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>355 LEXINGTON AVE FL 3</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10017</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>25000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>NEW YORK WEILL CORNELL MEDICAL CTR</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>525 EAST 68TH STREET</AddressLine1>
            <AddressLine2>POST OFFICE BOX 123</AddressLine2>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10065</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1800</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CROHN'S &amp; COLITIS FDN OF AMERICA</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>386 PARK AVENUE SOUTH</AddressLine1>
            <AddressLine2>17TH FLOOR</AddressLine2>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10016</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1200</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>KIDS OF COURAGE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>13158 BROADWAY STE 207</AddressLine1>
            <City>HEWLETT</City>
            <State>NY</State>
            <ZIPCode>11557</ZIPCode>
          </RecipientUSAddress>
          <RecipientFoundationStatus>PUBLIC</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>GENERAL</PurposeOfGrantOrContribution>
          <Amount>1000</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>4219847</TotGrantOrContriPaidDuringYear>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <IntOnSavingsAndTempCashInvst>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>3577040</ExclusionAmount>
        </IntOnSavingsAndTempCashInvst>
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>-1326351</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <SubtotalsPartXVIA>
          <ExclusionAmount>2250689</ExclusionAmount>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>2250689</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>
    <IRS990ScheduleB documentId="RetDoc1">
      <Organization501c3ExemptPF>X</Organization501c3ExemptPF>
      <GeneralRule>X</GeneralRule>
      <ContributorInfo>
        <ContributorNumber>1</ContributorNumber>
        <ContributorNameIndividual>JOSEPH WILF</ContributorNameIndividual>
        <ContributorAddressUS>
          <AddressLine1>945 WESTMINSTER AVE</AddressLine1>
          <City>HILLSIDE</City>
          <State>NJ</State>
          <ZIPCode>07205</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>5204787</AggregateContributions>
        <NoncashContributionType>X</NoncashContributionType>
      </ContributorInfo>
      <NoncashProperty>
        <ContributorNumberFromPartI>1</ContributorNumberFromPartI>
        <NoncashPropertyDescription>53061 SHRS VORNADO REALTY TRUST</NoncashPropertyDescription>
        <FairMarketValue>4224187</FairMarketValue>
        <DateReceived>2012-12-20</DateReceived>
      </NoncashProperty>
      <NoncashProperty>
        <ContributorNumberFromPartI>1</ContributorNumberFromPartI>
        <NoncashPropertyDescription>20000 ELI LILLY</NoncashPropertyDescription>
        <FairMarketValue>980600</FairMarketValue>
        <DateReceived>2012-12-20</DateReceived>
      </NoncashProperty>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc4">
      <AccountingFees>
        <Category>INDIRECT ACCOUNTING FEES</Category>
        <Amount>5500</Amount>
        <NetInvestmentIncome>5500</NetInvestmentIncome>
      </AccountingFees>
    </AccountingFeesSchedule>
    <CompensationExplanation documentId="RetDoc5">
      <Compensation>
        <PersonName>ZYGMUNT WILF</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>MARK WILF</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>JEFFREY WILF</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>JOSEPH WILF</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>ELIZABETH WILF</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>LEONARD WILF</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>JASON WILF</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>JONATHAN WILF</PersonName>
      </Compensation>
    </CompensationExplanation>
    <InvestmentsCorpBondsSchedule documentId="RetDoc6">
      <InvestmentsCorpBonds>
        <NameOfBond>1395 GE NOTES 6.625 32</NameOfBond>
        <EOYBookValue>34875</EOYBookValue>
        <EOYFMV>34903</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 BANK OF AMERICA 5.8 28</NameOfBond>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>100000 GMAC 6.4 19</NameOfBond>
        <EOYBookValue>100000</EOYBookValue>
        <EOYFMV>98542</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 GE CAPITAL 6 23</NameOfBond>
        <EOYBookValue>250000</EOYBookValue>
        <EOYFMV>251180</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>150000 AID-ISRAEL 0 23</NameOfBond>
        <EOYBookValue>55608</EOYBookValue>
        <EOYFMV>113209</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ALLY FINANCIAL 8 31</NameOfBond>
        <EOYBookValue>257422</EOYBookValue>
        <EOYFMV>315625</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 GOLDMAN SACHS GROUP 5.125 15</NameOfBond>
        <EOYBookValue>267102</EOYBookValue>
        <EOYFMV>268570</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 FIRST ENERGY SOLUTION 4.8 15</NameOfBond>
        <EOYBookValue>264383</EOYBookValue>
        <EOYFMV>268473</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 HSBC FINANCE 5 15</NameOfBond>
        <EOYBookValue>265278</EOYBookValue>
        <EOYFMV>270995</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 COMCAST 4.95 16</NameOfBond>
        <EOYBookValue>266405</EOYBookValue>
        <EOYFMV>281805</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ANADARKO PETROLEUM 5.95 16</NameOfBond>
        <EOYBookValue>271658</EOYBookValue>
        <EOYFMV>287782</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 BANK OF AMERICA 5.375 16</NameOfBond>
        <EOYBookValue>262980</EOYBookValue>
        <EOYFMV>282675</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 SIMON PROPERTY GROUP 5.25 16</NameOfBond>
        <EOYBookValue>255950</EOYBookValue>
        <EOYFMV>286035</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 SUNOCO 5.75 17</NameOfBond>
        <EOYBookValue>268150</EOYBookValue>
        <EOYFMV>281845</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 BEAR STEARNS 5.55 17</NameOfBond>
        <EOYBookValue>263735</EOYBookValue>
        <EOYFMV>281928</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ALCOA 5.55 17</NameOfBond>
        <EOYBookValue>263275</EOYBookValue>
        <EOYFMV>270635</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 AMB PROPERTY 4.25 17</NameOfBond>
        <EOYBookValue>256932</EOYBookValue>
        <EOYFMV>272625</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 BRITISH TELECOM 5.95 18</NameOfBond>
        <EOYBookValue>263648</EOYBookValue>
        <EOYFMV>298762</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 TRANSOCEAN 6 18</NameOfBond>
        <EOYBookValue>264535</EOYBookValue>
        <EOYFMV>289948</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 PITNEY BOWES 4.75 18</NameOfBond>
        <EOYBookValue>263187</EOYBookValue>
        <EOYFMV>259380</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 VIACOM 4.375 18</NameOfBond>
        <EOYBookValue>263525</EOYBookValue>
        <EOYFMV>280982</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ALABAMA POWER 5.125 19</NameOfBond>
        <EOYBookValue>267565</EOYBookValue>
        <EOYFMV>293255</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ANHEUSER-BUSCH 5 19</NameOfBond>
        <EOYBookValue>271125</EOYBookValue>
        <EOYFMV>293645</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 NOKIA 5.375 19</NameOfBond>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 USB VODAFONE 5.45 19</NameOfBond>
        <EOYBookValue>265510</EOYBookValue>
        <EOYFMV>303930</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 WISCONSIN POWER&amp;LIGHT 5 19</NameOfBond>
        <EOYBookValue>265577</EOYBookValue>
        <EOYFMV>294948</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 BURLINGTON NORTHERN 4.7 19</NameOfBond>
        <EOYBookValue>532308</EOYBookValue>
        <EOYFMV>576380</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 QUEST DIAGNOSTIC 4.75 20</NameOfBond>
        <EOYBookValue>264365</EOYBookValue>
        <EOYFMV>276088</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 TIME WARNER CABLE 5 20</NameOfBond>
        <EOYBookValue>252347</EOYBookValue>
        <EOYFMV>291085</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 PHILIP MORRIS INT'L 4.5 20</NameOfBond>
        <EOYBookValue>263322</EOYBookValue>
        <EOYFMV>291032</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 POTASH CORP SASKATCHWAN 4.875</NameOfBond>
        <EOYBookValue>266216</EOYBookValue>
        <EOYFMV>287383</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 CVS CAREMARK 4.75 20</NameOfBond>
        <EOYBookValue>263493</EOYBookValue>
        <EOYFMV>293435</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 WAL-MART 3.625 20</NameOfBond>
        <EOYBookValue>246886</EOYBookValue>
        <EOYFMV>277915</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 AGILENT TECHNOLOGIES 5 20</NameOfBond>
        <EOYBookValue>268847</EOYBookValue>
        <EOYFMV>286645</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ERP OPERATING 4.75 20</NameOfBond>
        <EOYBookValue>267365</EOYBookValue>
        <EOYFMV>281170</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 L-3 COMMUNICATIONS 4.75 20</NameOfBond>
        <EOYBookValue>268460</EOYBookValue>
        <EOYFMV>278660</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 TARGET 3.875 20</NameOfBond>
        <EOYBookValue>252602</EOYBookValue>
        <EOYFMV>280288</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 JP MORGAN CHASE 4.4 20</NameOfBond>
        <EOYBookValue>261167</EOYBookValue>
        <EOYFMV>282210</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ARCELORMITTAL</NameOfBond>
        <EOYBookValue>250238</EOYBookValue>
        <EOYFMV>250502</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 CREDIT SUISSE NY 4.375 20</NameOfBond>
        <EOYBookValue>261123</EOYBookValue>
        <EOYFMV>285070</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 NEWELL RUBBERMAID 4.7 20</NameOfBond>
        <EOYBookValue>266575</EOYBookValue>
        <EOYFMV>276123</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 AETNA 3.95 20</NameOfBond>
        <EOYBookValue>243150</EOYBookValue>
        <EOYFMV>272465</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ENTERGY 5.125 20</NameOfBond>
        <EOYBookValue>254006</EOYBookValue>
        <EOYFMV>271122</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 CLIFFFS NATURAL RESOURCES 4.8</NameOfBond>
        <EOYBookValue>259534</EOYBookValue>
        <EOYFMV>248450</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 MATTEL 4.35 20</NameOfBond>
        <EOYBookValue>261062</EOYBookValue>
        <EOYFMV>269643</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 CORN PRODUCTS INT'L 4.625 20</NameOfBond>
        <EOYBookValue>262500</EOYBookValue>
        <EOYFMV>279145</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 PEPSICO 3.125 20</NameOfBond>
        <EOYBookValue>238012</EOYBookValue>
        <EOYFMV>267918</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 TRAVELERS COMPANIES 3.9 20</NameOfBond>
        <EOYBookValue>247625</EOYBookValue>
        <EOYFMV>282397</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 PRUDENTIAL FINANCIAL 4.5 20</NameOfBond>
        <EOYBookValue>246450</EOYBookValue>
        <EOYFMV>279140</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 HEWLETT-PACKARD 3.75 20</NameOfBond>
        <EOYBookValue>511753</EOYBookValue>
        <EOYFMV>484450</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 UNION PACIFIC 4 21</NameOfBond>
        <EOYBookValue>251215</EOYBookValue>
        <EOYFMV>280262</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 METLIFE 4.75 21</NameOfBond>
        <EOYBookValue>529340</EOYBookValue>
        <EOYFMV>580560</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 SIMON PROPERTY GROUP 4.625 21</NameOfBond>
        <EOYBookValue>257252</EOYBookValue>
        <EOYFMV>281143</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 LOEW'S COMPANIES 3.75 21</NameOfBond>
        <EOYBookValue>247220</EOYBookValue>
        <EOYFMV>275287</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 BOSTON PROPERTIES 4.125 21</NameOfBond>
        <EOYBookValue>243206</EOYBookValue>
        <EOYFMV>271707</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 CANADIAN PACIFIC 4.45 23</NameOfBond>
        <EOYBookValue>260817</EOYBookValue>
        <EOYFMV>277095</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ILLINOIS STATE BUILD 5.363 19</NameOfBond>
        <EOYBookValue>258475</EOYBookValue>
        <EOYFMV>274715</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 CALIFORNIA STATE VAR 6.2 19</NameOfBond>
        <EOYBookValue>258475</EOYBookValue>
        <EOYFMV>304250</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 HAWAII STATE BUILD 5.1 24</NameOfBond>
        <EOYBookValue>259515</EOYBookValue>
        <EOYFMV>304725</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 NYS DORMITORY AUTH 5.262 25</NameOfBond>
        <EOYBookValue>258272</EOYBookValue>
        <EOYFMV>305325</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 GEORGIA STATE BUILD 5.014 27</NameOfBond>
        <EOYBookValue>260228</EOYBookValue>
        <EOYFMV>311963</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 UNIV OF MICHIGAN 5.593 40</NameOfBond>
        <EOYBookValue>257010</EOYBookValue>
        <EOYFMV>319635</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>54525 LORD ABBETT FLOATING</NameOfBond>
        <EOYBookValue>500000</EOYBookValue>
        <EOYFMV>513086</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ARECELOMITTAL 6.125 18</NameOfBond>
        <EOYBookValue>272180</EOYBookValue>
        <EOYFMV>253375</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 CISCO SYSTEMS 4.95 19</NameOfBond>
        <EOYBookValue>273441</EOYBookValue>
        <EOYFMV>295955</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ALCOA 5.72 19</NameOfBond>
        <EOYBookValue>267750</EOYBookValue>
        <EOYFMV>265553</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ORACLE 5 19</NameOfBond>
        <EOYBookValue>271447</EOYBookValue>
        <EOYFMV>300222</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>100000 LOCKHEED MARTIN</NameOfBond>
        <EOYBookValue>104254</EOYBookValue>
        <EOYFMV>112757</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 XEROX 5.625 19</NameOfBond>
        <EOYBookValue>273927</EOYBookValue>
        <EOYFMV>279315</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 BOSTON SCIENTIFIC 6 20</NameOfBond>
        <EOYBookValue>267275</EOYBookValue>
        <EOYFMV>291612</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ADOBE SYSTEMS 4.75 20</NameOfBond>
        <EOYBookValue>257932</EOYBookValue>
        <EOYFMV>279805</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 KRAFT FOODS 5.375 20</NameOfBond>
        <EOYBookValue>270382</EOYBookValue>
        <EOYFMV>301815</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 COMCAST 5.15 20</NameOfBond>
        <EOYBookValue>265438</EOYBookValue>
        <EOYFMV>296315</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 CLIFFS NATURE RESOURCES 5.9</NameOfBond>
        <EOYBookValue>272900</EOYBookValue>
        <EOYFMV>265835</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>100000 GOLDMAN SACHS 5.375 20</NameOfBond>
        <EOYBookValue>104155</EOYBookValue>
        <EOYFMV>114603</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ANHEUSER BUSCH 5 20</NameOfBond>
        <EOYBookValue>268576</EOYBookValue>
        <EOYFMV>299168</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 NORDSTROM 4.75 20</NameOfBond>
        <EOYBookValue>265150</EOYBookValue>
        <EOYFMV>290240</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 PRUDENTIAL FINANCIAL 5.375 2</NameOfBond>
        <EOYBookValue>269045</EOYBookValue>
        <EOYFMV>292257</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 JP MORGAN 4.25 20</NameOfBond>
        <EOYBookValue>245283</EOYBookValue>
        <EOYFMV>278032</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 DOW CHEMICAL 4.25 20</NameOfBond>
        <EOYBookValue>262175</EOYBookValue>
        <EOYFMV>277928</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 HOME DEPOT 4.4 21</NameOfBond>
        <EOYBookValue>528932</EOYBookValue>
        <EOYFMV>589695</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ALTRIA GROUP 4.75 21</NameOfBond>
        <EOYBookValue>268863</EOYBookValue>
        <EOYFMV>203318</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 CVS CAREMARK 4.125 21</NameOfBond>
        <EOYBookValue>260557</EOYBookValue>
        <EOYFMV>281983</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 AVON PRODUCTS 4.2 18</NameOfBond>
        <EOYBookValue>528695</EOYBookValue>
        <EOYFMV>509490</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 AMGEN 4.1 21</NameOfBond>
        <EOYBookValue>540800</EOYBookValue>
        <EOYFMV>553920</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 WHIRLPOOL 4.85 21</NameOfBond>
        <EOYBookValue>540000</EOYBookValue>
        <EOYFMV>535915</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 BERKSHIRE HATHAWAY 3.75 21</NameOfBond>
        <EOYBookValue>266512</EOYBookValue>
        <EOYFMV>275390</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 LOCKHEED MARTIN 3.35 21</NameOfBond>
        <EOYBookValue>267667</EOYBookValue>
        <EOYFMV>264190</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 CLOROX 3.8 21</NameOfBond>
        <EOYBookValue>538950</EOYBookValue>
        <EOYFMV>544500</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 UNITED HEALTH GROUP 3.375 21</NameOfBond>
        <EOYBookValue>274483</EOYBookValue>
        <EOYFMV>266342</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 GENERAL MILLS 3.15 21</NameOfBond>
        <EOYBookValue>524769</EOYBookValue>
        <EOYFMV>522645</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 AT&amp;T 3 22</NameOfBond>
        <EOYBookValue>519250</EOYBookValue>
        <EOYFMV>520010</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 CIGNA 4 22</NameOfBond>
        <EOYBookValue>531185</EOYBookValue>
        <EOYFMV>546575</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 WALT DISNEY 2.55 22</NameOfBond>
        <EOYBookValue>260700</EOYBookValue>
        <EOYFMV>255815</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 CSS 3.375 22</NameOfBond>
        <EOYBookValue>265192</EOYBookValue>
        <EOYFMV>259945</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 KELLOGG 3.125 22</NameOfBond>
        <EOYBookValue>266375</EOYBookValue>
        <EOYFMV>261998</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ANHEUSER BUSCH 2.5 22</NameOfBond>
        <EOYBookValue>257460</EOYBookValue>
        <EOYFMV>251565</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 CAMBELL SOUP 2.5 22</NameOfBond>
        <EOYBookValue>256338</EOYBookValue>
        <EOYFMV>247762</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 ALTRIA GROUP 2.85 22</NameOfBond>
        <EOYBookValue>254065</EOYBookValue>
        <EOYFMV>247383</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 ESTEE LAUDER 2.35 22</NameOfBond>
        <EOYBookValue>508412</EOYBookValue>
        <EOYFMV>495055</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 PACIFIC GAS &amp; ELECTRIC</NameOfBond>
        <EOYBookValue>258170</EOYBookValue>
        <EOYFMV>249655</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 PHILIP MORRIS 2.5 22</NameOfBond>
        <EOYBookValue>257460</EOYBookValue>
        <EOYFMV>251150</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>500000 THERMO FISCHER SCIENTIFIC3.15</NameOfBond>
        <EOYBookValue>525405</EOYBookValue>
        <EOYFMV>510985</EOYFMV>
      </InvestmentsCorpBonds>
      <InvestmentsCorpBonds>
        <NameOfBond>250000 UNION PACIFIC 2.95 23</NameOfBond>
        <EOYBookValue>266992</EOYBookValue>
        <EOYFMV>258480</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc7">
      <InvestmentsCorpStock>
        <NameOfStock>158544 IBM</NameOfStock>
        <EOYBookValue>14741202</EOYBookValue>
        <EOYFMV>29937103</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>36000 LOWES COMPANIES</NameOfStock>
        <EOYBookValue>542749</EOYBookValue>
        <EOYFMV>1278720</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>4000 WALMART STORES</NameOfStock>
        <EOYBookValue>164000</EOYBookValue>
        <EOYFMV>272920</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>326905 VORNADO REALTY TRUST</NameOfStock>
        <EOYBookValue>24615708</EOYBookValue>
        <EOYFMV>26178552</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>4000 ASBC CAPITAL TRUST I 7.625 PFD</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>8000 EQUITY RESIDENTIAL PROP 6.48 PF</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>10000 PNC CAPITAL TRUST D 6.125 PFD</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>10000 GE CAPITAL SENIOR NOTES 5.875</NameOfStock>
        <EOYBookValue>250000</EOYBookValue>
        <EOYFMV>260000</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>5000 MORGAN STANLEY CAP TR IV 6.25 P</NameOfStock>
        <EOYBookValue>125000</EOYBookValue>
        <EOYFMV>124950</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>5000 BNY CAPITAL V 5.95 PFD</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>10000 FLORIDA P &amp; L TRUST 5.875 PFD</NameOfStock>
        <EOYBookValue>250000</EOYBookValue>
        <EOYFMV>255400</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>4000 EVEREST CAP TRUST 6.2 PFD</NameOfStock>
        <EOYBookValue>100000</EOYBookValue>
        <EOYFMV>100520</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>6000 JP MORGAN CHASE CAP XIV 6.2 PFD</NameOfStock>
        <EOYBookValue>150000</EOYBookValue>
        <EOYFMV>152640</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>5000 VORNADO REALTY TR SER F 6.75 PF</NameOfStock>
        <EOYBookValue>125000</EOYBookValue>
        <EOYFMV>125900</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>2585 AVALON BAY COMM REIT</NameOfStock>
        <EOYBookValue>187793</EOYBookValue>
        <EOYFMV>350500</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>27562 CENTER BANCORP</NameOfStock>
        <EOYBookValue>314200</EOYBookValue>
        <EOYFMV>319168</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>3000 ESSEX PROPERTY TRUST REIT</NameOfStock>
        <EOYBookValue>196680</EOYBookValue>
        <EOYFMV>439950</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>27964 WELLS FARGO</NameOfStock>
        <EOYBookValue>2756648</EOYBookValue>
        <EOYFMV>955810</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>17975 INTEL</NameOfStock>
        <EOYBookValue>450404</EOYBookValue>
        <EOYFMV>370645</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>6743 SONY</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>10000 USB CAPITAL VIII 6.35 PFD</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>8000 PUBLIC STORAGE SER D 6.18 PFD</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>10000 VORNADO RLTY TRUST SER H 6.75</NameOfStock>
        <EOYBookValue>250000</EOYBookValue>
        <EOYFMV>251800</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>64400 PEOPLES BANK OF BRIDGEPORT</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>10000 NEXTERA ENERGY CAPITAL 6.6 PFD</NameOfStock>
        <EOYBookValue>250000</EOYBookValue>
        <EOYFMV>250200</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>10000 USB CAPITAL X 6.5 PFD</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>48880 NEW YORK COMMUNITY BANCORP</NameOfStock>
        <EOYBookValue>257820</EOYBookValue>
        <EOYFMV>640328</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>25000 USB CAPITAL TRUST XII 6.3 PFD</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>10000 OCCIDENTAL PETROLEUM</NameOfStock>
        <EOYBookValue>760700</EOYBookValue>
        <EOYFMV>766100</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>6000 PETROBAS</NameOfStock>
        <EOYBookValue>323370</EOYBookValue>
        <EOYFMV>116820</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>7000 APPLE INC</NameOfStock>
        <EOYBookValue>1544465</EOYBookValue>
        <EOYFMV>3725210</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>20000 VORNADO REALTY TRUST SER J</NameOfStock>
        <EOYBookValue>500000</EOYBookValue>
        <EOYFMV>539400</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>2000 CHEVRON</NameOfStock>
        <EOYBookValue>199262</EOYBookValue>
        <EOYFMV>237908</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>3000 COCA COLA</NameOfStock>
        <EOYBookValue>196077</EOYBookValue>
        <EOYFMV>217500</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>25700 ELI LILY</NameOfStock>
        <EOYBookValue>1179643</EOYBookValue>
        <EOYFMV>1267524</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>1966 KRAFT FOODS</NameOfStock>
        <EOYBookValue>70010</EOYBookValue>
        <EOYFMV>89394</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>406 GENERAL MOTORS</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>369 GENERAL MOTORS WARRENTS 19</NameOfStock>
        <EOYBookValue>30405</EOYBookValue>
        <EOYFMV>7195</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>369 GENERAL MOTORS WARRANTS 19</NameOfStock>
        <EOYBookValue>23167</EOYBookValue>
        <EOYFMV>4609</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>33 INTERCONTINENTAL EXCHANGE</NameOfStock>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>5000 FIRST REBULIC BANK 6.2 PFD</NameOfStock>
        <EOYBookValue>125000</EOYBookValue>
        <EOYFMV>130745</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>20000 GOLDMAN SACHS 5.95 PFD</NameOfStock>
        <EOYBookValue>500000</EOYBookValue>
        <EOYFMV>499600</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>5900 MONDELEZ INTERNATIONAL</NameOfStock>
        <EOYBookValue>129572</EOYBookValue>
        <EOYFMV>150174</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>102 MOTORS LI1 CO</NameOfStock>
        <EOYFMV>2162</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>6000 HSBC HOLDINGS 8 PFD</NameOfStock>
        <EOYBookValue>166505</EOYBookValue>
        <EOYFMV>165360</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>6000 JP MORGAN CHASE</NameOfStock>
        <EOYBookValue>157196</EOYBookValue>
        <EOYFMV>155820</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>6000 WEELLS FARGO 8 PFD</NameOfStock>
        <EOYBookValue>175205</EOYBookValue>
        <EOYFMV>176100</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc8">
      <USGovtSecuritiesEOYBookValue>8286975</USGovtSecuritiesEOYBookValue>
      <USGovtSecuritiesEOYFMV>8312650</USGovtSecuritiesEOYFMV>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="RetDoc9">
      <InvestmentsOther>
        <CategoryOrItem>MERRILL LYNCH CMA FUND</CategoryOrItem>
        <ListedAtCostOrFMV>AT COST</ListedAtCostOrFMV>
        <BookValue>2638155</BookValue>
        <EOYFMV>2638155</EOYFMV>
      </InvestmentsOther>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="RetDoc10">
      <OtherExpenses>
        <Description>EXPENSES</Description>
      </OtherExpenses>
      <OtherExpenses>
        <Description>OFFICE EXPENSE</Description>
        <RevenueAndExpensesPerBooks>814</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>814</NetInvestmentIncome>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherIncreasesSchedule documentId="RetDoc11">
      <OtherIncreases>
        <Description>RECOVERIES OF AMOUNTS TREATED AS QUALIFYING DISTRI</Description>
        <Amount>500</Amount>
      </OtherIncreases>
    </OtherIncreasesSchedule>
    <TaxesSchedule documentId="RetDoc12">
      <Taxes>
        <Category>FEDERAL EXCISE TAX</Category>
        <Amount>73282</Amount>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>