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        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SEPHARDIC FOOD FUND</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>8 WEST 40TH ST 4TH FL</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10018</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITY</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>UNITED JEWISH APPEAL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>130 EAST 59TH ST</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10022</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITY</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BET YAACOV OF THE JERSEY SHORE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 577</AddressLine1>
            <City>WEST LONG BRANCH</City>
            <State>NJ</State>
            <ZIPCode>07764</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITY</PurposeOfGrantOrContribution>
          <Amount>250</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ILAN HIGH SCHOOL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>82 NORWOOD AVENUE SUITE 3</AddressLine1>
            <City>DEAL</City>
            <State>NJ</State>
            <ZIPCode>07723</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>EDUCATIONAL</PurposeOfGrantOrContribution>
          <Amount>601</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>IMAGINE ACADEMY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1465 EAST 7TH STREET</AddressLine1>
            <City>BROOKLYN</City>
            <State>NY</State>
            <ZIPCode>11230</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>EDUCATIONAL</PurposeOfGrantOrContribution>
          <Amount>2000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>OHEL YAACOB CONGREGATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>4 OCEAN AVE</AddressLine1>
            <City>DEAL</City>
            <State>NJ</State>
            <ZIPCode>07723</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITY</PurposeOfGrantOrContribution>
          <Amount>4000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SOUTHERN INSTITUTE FOR EDUCATION AND RESEARCH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>MR BOX 1692</AddressLine1>
            <AddressLine2>31 MCALISTER DRIVE</AddressLine2>
            <City>NEW ORLEANS</City>
            <State>LA</State>
            <ZIPCode>70118</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>EDUCATIONAL</PurposeOfGrantOrContribution>
          <Amount>1500</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>90051</TotGrantOrContriPaidDuringYear>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <FeesContractsFromGovtAgencies />
        <MembershipDuesAndAssessments />
        <IntOnSavingsAndTempCashInvst>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>123</ExclusionAmount>
        </IntOnSavingsAndTempCashInvst>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>87413</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <NetRentalIncmReDebtFincdProp />
        <NetRntlIncmReNotDebtFincdProp>
          <ExclusionCode>16</ExclusionCode>
          <ExclusionAmount>-10660</ExclusionAmount>
        </NetRntlIncmReNotDebtFincdProp>
        <NetRentalIncmPersonalProperty />
        <OtherInvestmentIncomePartVII />
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>18</ExclusionCode>
          <ExclusionAmount>196841</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <NetIncomeLossFromSpecialEvents />
        <GrossProfitLossSalesOfInvntry />
        <SubtotalsPartXVIA>
          <ExclusionAmount>273717</ExclusionAmount>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>273717</TotalPartXVIA>
      </AnalysisIncomeProducingActy>
      <TrnsfrTrRlnWithNoncharitableEO>
        <TrnsfrOfCashToNoncharitableEO>false</TrnsfrOfCashToNoncharitableEO>
        <TrnsfrOthAssetsNoncharitableEO>false</TrnsfrOthAssetsNoncharitableEO>
        <SalesOrExchangesOfAssets>false</SalesOrExchangesOfAssets>
        <PurchaseAssetsNoncharitableEO>false</PurchaseAssetsNoncharitableEO>
        <RentalOfFacilitiesEtc>false</RentalOfFacilitiesEtc>
        <ReimbursementArrangements>false</ReimbursementArrangements>
        <LoansOrLoanGuarantees>false</LoansOrLoanGuarantees>
        <PerformanceOfServicesEtc>false</PerformanceOfServicesEtc>
        <SharingOfFacilitiesEtc>false</SharingOfFacilitiesEtc>
        <RelationshipsNoncharitableEOs>false</RelationshipsNoncharitableEOs>
      </TrnsfrTrRlnWithNoncharitableEO>
    </IRS990PF>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsCorpBondsSchedule documentId="InvestCorpBondsSch">
      <InvestmentsCorpBonds>
        <NameOfBond>STATE OF ISRAEL BONDS</NameOfBond>
        <EOYBookValue>175000</EOYBookValue>
        <EOYFMV>175000</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestCorpStockSch">
      <InvestmentsCorpStock>
        <NameOfStock>ALPINE TOTAL DYNAMIC DIV FD</NameOfStock>
        <EOYBookValue>138600</EOYBookValue>
        <EOYFMV>41026</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>BLACKROCK INTL GROWTH &amp; INC TR</NameOfStock>
        <EOYBookValue>141341</EOYBookValue>
        <EOYFMV>115531</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>DEERFIELD CAPITAL CORP</NameOfStock>
        <EOYBookValue>216200</EOYBookValue>
        <EOYFMV>9750</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>EATON VANCE TAX-MANAGED OPP FD</NameOfStock>
        <EOYBookValue>43285</EOYBookValue>
        <EOYFMV>50358</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>EATON VANCE TAX-MANAGED GLOBAL</NameOfStock>
        <EOYBookValue>101972</EOYBookValue>
        <EOYFMV>127413</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>HENDERSON GL-EUROPEAN FOCUS FD</NameOfStock>
        <EOYBookValue>239966</EOYBookValue>
        <EOYFMV>208820</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>ING GLOBAL EQ DIV &amp; PRM OPP FD</NameOfStock>
        <EOYBookValue>53273</EOYBookValue>
        <EOYFMV>34720</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>NUVEEN EQ PREM ADVANTAGED FD</NameOfStock>
        <EOYBookValue>68652</EOYBookValue>
        <EOYFMV>64500</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>ZWEIG FUND INC.</NameOfStock>
        <EOYBookValue>54505</EOYBookValue>
        <EOYFMV>42378</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>WELLS FARGO CAPITAL XII</NameOfStock>
        <EOYBookValue>200000</EOYBookValue>
        <EOYFMV>214560</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>ALLIANZ SE 8.375% PFD</NameOfStock>
        <EOYBookValue>160000</EOYBookValue>
        <EOYFMV>168198</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>BANK OF AMERICA 8.2% PFD SER H</NameOfStock>
        <EOYBookValue>41250</EOYBookValue>
        <EOYFMV>42075</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>BLACKROCK ENHANCED CAPITAL &amp; I</NameOfStock>
        <EOYBookValue>62658</EOYBookValue>
        <EOYFMV>46391</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>DEUTSCHE BANK 8.05% CONT CAP T</NameOfStock>
        <EOYBookValue>200000</EOYBookValue>
        <EOYFMV>209120</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>JP MORGAN CHASE 8.625% PFD</NameOfStock>
        <EOYBookValue>42500</EOYBookValue>
        <EOYFMV>46835</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>VISA INC</NameOfStock>
        <EOYBookValue>4400</EOYBookValue>
        <EOYFMV>7038</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>CHIMERA INVESTMENT CORP</NameOfStock>
        <EOYBookValue>58126</EOYBookValue>
        <EOYFMV>60623</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>CITIGROUP INC</NameOfStock>
        <EOYBookValue>27319</EOYBookValue>
        <EOYFMV>31218</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <LandEtcSchedule2 documentId="LandEtcSch2" />
    <OtherAssetsSchedule documentId="OtherAssetsSch">
      <OtherAssets>
        <Description>ROYAL PROMENADE LLC</Description>
        <BOYBookValue>-97963</BOYBookValue>
        <EOYBookValue>-93111</EOYBookValue>
        <EOYFMV>120000</EOYFMV>
      </OtherAssets>
      <OtherAssets>
        <Description>WAYNE TOWNE CENTER ASSOC. LLC</Description>
        <BOYBookValue>-144731</BOYBookValue>
        <EOYBookValue>27053</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </OtherAssets>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpenses>
        <Description>NYS FILING FEES</Description>
        <RevenueAndExpensesPerBooks>250</RevenueAndExpensesPerBooks>
        <DisbursementsCharitablePrps>250</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>INVESTMENT EXPENSE</Description>
        <RevenueAndExpensesPerBooks>150</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>150</NetInvestmentIncome>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncome>
        <Description>INCOME FROM PARTNERSHIP-ROYAL PROMENADE</Description>
      </OtherIncome>
      <OtherIncome>
        <Description>EIN: 13-4119440</Description>
        <RevenueAndExpensesPerBooks>47793</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>47793</NetInvestmentIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>INCOME FROM PARTNERSHIP-WAYNE TOWNE</Description>
      </OtherIncome>
      <OtherIncome>
        <Description>CENTER ASSOCIATES LLC EIN: 38-3688224</Description>
        <RevenueAndExpensesPerBooks>-58453</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>-58453</NetInvestmentIncome>
      </OtherIncome>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="TaxesSchedule">
      <Taxes>
        <Category>FOREIGN TAXES PAID</Category>
        <Amount>352</Amount>
        <NetInvestmentIncome>352</NetInvestmentIncome>
      </Taxes>
      <Taxes>
        <Category>STATE TAXES</Category>
        <Amount>2439</Amount>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>