﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2010v3.4">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2011-12-01T09:13:05-06:00</Timestamp>
    <TaxPeriodEndDate>2011-09-30</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>Bederson &amp; Company LLP</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>405 Northfield Avenue</AddressLine1>
        <City>West Orange</City>
        <State>NJ</State>
        <ZIPCode>070523003</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990PF</ReturnType>
    <TaxPeriodBeginDate>2010-10-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>223763549</EIN>
      <Name>
        <BusinessNameLine1>DIACO FAMILY FOUNDATION INC</BusinessNameLine1>
      </Name>
      <NameControl>DIAC</NameControl>
      <Phone>9734847300</Phone>
      <USAddress>
        <AddressLine1>10-12 NO 7TH STREET</AddressLine1>
        <City>BELLEVILLE</City>
        <State>NJ</State>
        <ZIPCode>07109</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>FRANK DIACO</Name>
      <Title>VICE PRESIDENT</Title>
      <Phone>9734847300</Phone>
      <DateSigned>2011-11-28</DateSigned>
    </Officer>
    <Preparer>
      <Name>Mark A Mazza</Name>
      <Phone>9737363333</Phone>
    </Preparer>
    <TaxYear>2010</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="8">
    <IRS990PF documentId="RetDoc1235000001">
      <ExemptPF>X</ExemptPF>
      <FMVAssetsEOY>6517504</FMVAssetsEOY>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AnalysisOfRevenueAndExpenses>
        <ContriReceivedRevAndExpnss>830000</ContriReceivedRevAndExpnss>
        <DividendsRevAndExpnss>109768</DividendsRevAndExpnss>
        <DividendsNetInvstIncm>109768</DividendsNetInvstIncm>
        <NetGainSaleAssetsRevAndExpnss>-125019</NetGainSaleAssetsRevAndExpnss>
        <GrossSalesPrice>3859240</GrossSalesPrice>
        <CapitalGainNetIncmNetInvstIncm>0</CapitalGainNetIncmNetInvstIncm>
        <TotalRevenueAndExpenses>814749</TotalRevenueAndExpenses>
        <TotalNetInvestmentIncome>109768</TotalNetInvestmentIncome>
        <CompOfcrDirTrstRevAndExpnss>60000</CompOfcrDirTrstRevAndExpnss>
        <CompOfcrDirTrstNetInvstIncm>30000</CompOfcrDirTrstNetInvstIncm>
        <CompOfcrDirTrstDsbrsChrtblPrps>30000</CompOfcrDirTrstDsbrsChrtblPrps>
        <OtherProfFeesRevAndExpnss referenceDocumentId="RetDoc2002300001">14263</OtherProfFeesRevAndExpnss>
        <OtherProfFeesNetInvstIncm>14263</OtherProfFeesNetInvstIncm>
        <OtherProfFeesDsbrsChrtblPrps>0</OtherProfFeesDsbrsChrtblPrps>
        <TaxesRevAndExpnss referenceDocumentId="RetDoc2002500001">378</TaxesRevAndExpnss>
        <TaxesNetInvstIncm>0</TaxesNetInvstIncm>
        <TaxesDsbrsChrtblPrps>0</TaxesDsbrsChrtblPrps>
        <OtherExpensesRevAndExpnss referenceDocumentId="RetDoc2003200001">165</OtherExpensesRevAndExpnss>
        <OtherExpensesNetInvstIncm>165</OtherExpensesNetInvstIncm>
        <OtherExpensesDsbrsChrtblPrps>0</OtherExpensesDsbrsChrtblPrps>
        <TotOprExpensesRevAndExpnss>74806</TotOprExpensesRevAndExpnss>
        <TotOprExpensesNetInvstIncm>44428</TotOprExpensesNetInvstIncm>
        <TotOprExpensesDsbrsChrtblPrps>30000</TotOprExpensesDsbrsChrtblPrps>
        <ContriGiftsPaidRevAndExpnss>305000</ContriGiftsPaidRevAndExpnss>
        <ContriGiftsPaidDsbrsChrtblPrps>305000</ContriGiftsPaidDsbrsChrtblPrps>
        <TotalExpensesRevAndExpnss>379806</TotalExpensesRevAndExpnss>
        <TotalExpensesNetInvstIncm>44428</TotalExpensesNetInvstIncm>
        <TotalExpensesDsbrsChrtblPrps>335000</TotalExpensesDsbrsChrtblPrps>
        <ExcessOfRevenueOverExpenses>434943</ExcessOfRevenueOverExpenses>
        <NetInvestmentIncome>65340</NetInvestmentIncome>
      </AnalysisOfRevenueAndExpenses>
      <BalanceSheets>
        <CashBOY>3892229</CashBOY>
        <CashEOY>3244757</CashEOY>
        <CashEOYFMV>3244757</CashEOYFMV>
        <InvestmentsCorpStockBOY>2162854</InvestmentsCorpStockBOY>
        <InvestmentsCorpStockEOY referenceDocumentId="RetDoc2018900001">3245269</InvestmentsCorpStockEOY>
        <InvestmentsCorpStockEOYFMV>3219335</InvestmentsCorpStockEOYFMV>
        <InvestmentsCorpBondsBOY>50765</InvestmentsCorpBondsBOY>
        <InvestmentsCorpBondsEOY referenceDocumentId="RetDoc2044400001">50765</InvestmentsCorpBondsEOY>
        <InvestmentsCorpBondsEOYFMV>53412</InvestmentsCorpBondsEOYFMV>
        <TotalAssetsBOY>6105848</TotalAssetsBOY>
        <TotalAssetsEOY>6540791</TotalAssetsEOY>
        <TotalAssetsEOYFMV>6517504</TotalAssetsEOYFMV>
        <TotalLiabilitiesBOY>0</TotalLiabilitiesBOY>
        <TotalLiabilitiesEOY>0</TotalLiabilitiesEOY>
        <OrgThatDoNotFollowSFAS117>X</OrgThatDoNotFollowSFAS117>
        <CapitalStockBOY>0</CapitalStockBOY>
        <CapitalStockEOY>0</CapitalStockEOY>
        <PaidInOrCapitalSurplusBOY>0</PaidInOrCapitalSurplusBOY>
        <PaidInOrCapitalSurplusEOY>0</PaidInOrCapitalSurplusEOY>
        <RetainedEarningsBOY>6105848</RetainedEarningsBOY>
        <RetainedEarningsEOY>6540791</RetainedEarningsEOY>
        <TotalNetAssetsBOY>6105848</TotalNetAssetsBOY>
        <TotalNetAssetsEOY>6540791</TotalNetAssetsEOY>
        <TotalLiabilitiesNetAssetsBOY>6105848</TotalLiabilitiesNetAssetsBOY>
        <TotalLiabilitiesNetAssetsEOY>6540791</TotalLiabilitiesNetAssetsEOY>
      </BalanceSheets>
      <ChangesInNetAssetsFundBalances>
        <TotalNetAssetsFundBalancesBOY>6105848</TotalNetAssetsFundBalancesBOY>
        <ExcessOfRevenueOverExpenses>434943</ExcessOfRevenueOverExpenses>
        <OtherIncreases>0</OtherIncreases>
        <Subtotal>6540791</Subtotal>
        <OtherDecreases>0</OtherDecreases>
        <TotalNetAssetsFundBalancesEOY>6540791</TotalNetAssetsFundBalancesEOY>
      </ChangesInNetAssetsFundBalances>
      <CapitalGainsAndLosses>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>AT &amp; T</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>227996</GrossSalesPrice>
          <CostOrOtherBasis>209666</CostOrOtherBasis>
          <GainOrLoss>18330</GainOrLoss>
          <GainsMinusExcessOrLosses>18330</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>ABBOTT LABS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>97320</GrossSalesPrice>
          <CostOrOtherBasis>103890</CostOrOtherBasis>
          <GainOrLoss>-6570</GainOrLoss>
          <GainsMinusExcessOrLosses>-6570</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>APPLIED MATERIALS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-01</DateSold>
          <GrossSalesPrice>109888</GrossSalesPrice>
          <CostOrOtherBasis>107361</CostOrOtherBasis>
          <GainOrLoss>2527</GainOrLoss>
          <GainsMinusExcessOrLosses>2527</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>BANK OF AMERICA</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-01</DateSold>
          <GrossSalesPrice>117478</GrossSalesPrice>
          <CostOrOtherBasis>160310</CostOrOtherBasis>
          <GainOrLoss>-42832</GainOrLoss>
          <GainsMinusExcessOrLosses>-42832</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>BECTON DICKERSON</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>109590</GrossSalesPrice>
          <CostOrOtherBasis>107451</CostOrOtherBasis>
          <GainOrLoss>2139</GainOrLoss>
          <GainsMinusExcessOrLosses>2139</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>BHP BILLITON</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-01</DateSold>
          <GrossSalesPrice>90614</GrossSalesPrice>
          <CostOrOtherBasis>103091</CostOrOtherBasis>
          <GainOrLoss>-12477</GainOrLoss>
          <GainsMinusExcessOrLosses>-12477</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>CISCO SYSTEMS</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-01</DateSold>
          <GrossSalesPrice>67388</GrossSalesPrice>
          <CostOrOtherBasis>99714</CostOrOtherBasis>
          <GainOrLoss>-32326</GainOrLoss>
          <GainsMinusExcessOrLosses>-32326</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>CITIGROUP</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>134727</GrossSalesPrice>
          <CostOrOtherBasis>148755</CostOrOtherBasis>
          <GainOrLoss>-14028</GainOrLoss>
          <GainsMinusExcessOrLosses>-14028</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>COMCAST CO</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>118493</GrossSalesPrice>
          <CostOrOtherBasis>108243</CostOrOtherBasis>
          <GainOrLoss>10250</GainOrLoss>
          <GainsMinusExcessOrLosses>10250</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>EXELON CORP</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>94208</GrossSalesPrice>
          <CostOrOtherBasis>101655</CostOrOtherBasis>
          <GainOrLoss>-7447</GainOrLoss>
          <GainsMinusExcessOrLosses>-7447</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>FORD MOTOR CORP</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>80718</GrossSalesPrice>
          <CostOrOtherBasis>107992</CostOrOtherBasis>
          <GainOrLoss>-27274</GainOrLoss>
          <GainsMinusExcessOrLosses>-27274</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>GENERAL ELECTRIC</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>331794</GrossSalesPrice>
          <CostOrOtherBasis>273751</CostOrOtherBasis>
          <GainOrLoss>58043</GainOrLoss>
          <GainsMinusExcessOrLosses>58043</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>INTEL CORP</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-01</DateSold>
          <GrossSalesPrice>110198</GrossSalesPrice>
          <CostOrOtherBasis>97243</CostOrOtherBasis>
          <GainOrLoss>12955</GainOrLoss>
          <GainsMinusExcessOrLosses>12955</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>JOHNSON &amp; JOHNSON</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>99249</GrossSalesPrice>
          <CostOrOtherBasis>102337</CostOrOtherBasis>
          <GainOrLoss>-3088</GainOrLoss>
          <GainsMinusExcessOrLosses>-3088</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>JP MORGAN CHASE</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>101026</GrossSalesPrice>
          <CostOrOtherBasis>93925</CostOrOtherBasis>
          <GainOrLoss>7101</GainOrLoss>
          <GainsMinusExcessOrLosses>7101</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>MARTIN MARIETTA MATERIAL</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>92608</GrossSalesPrice>
          <CostOrOtherBasis>109481</CostOrOtherBasis>
          <GainOrLoss>-16873</GainOrLoss>
          <GainsMinusExcessOrLosses>-16873</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>MICROSOFT CO</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>100002</GrossSalesPrice>
          <CostOrOtherBasis>100676</CostOrOtherBasis>
          <GainOrLoss>-674</GainOrLoss>
          <GainsMinusExcessOrLosses>-674</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>PEPSICO INC</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>193259</GrossSalesPrice>
          <CostOrOtherBasis>173118</CostOrOtherBasis>
          <GainOrLoss>20141</GainOrLoss>
          <GainsMinusExcessOrLosses>20141</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>PFIZER INC</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>109676</GrossSalesPrice>
          <CostOrOtherBasis>101957</CostOrOtherBasis>
          <GainOrLoss>7719</GainOrLoss>
          <GainsMinusExcessOrLosses>7719</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>PROCTER &amp; GAMBLE</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>97599</GrossSalesPrice>
          <CostOrOtherBasis>101199</CostOrOtherBasis>
          <GainOrLoss>-3600</GainOrLoss>
          <GainsMinusExcessOrLosses>-3600</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>SAFEWAY INC</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>83338</GrossSalesPrice>
          <CostOrOtherBasis>99087</CostOrOtherBasis>
          <GainOrLoss>-15749</GainOrLoss>
          <GainsMinusExcessOrLosses>-15749</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>CHARLES SCHWAB CO</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-01</DateSold>
          <GrossSalesPrice>99962</GrossSalesPrice>
          <CostOrOtherBasis>98810</CostOrOtherBasis>
          <GainOrLoss>1152</GainOrLoss>
          <GainsMinusExcessOrLosses>1152</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>VERIZON COMM</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>101911</GrossSalesPrice>
          <CostOrOtherBasis>97501</CostOrOtherBasis>
          <GainOrLoss>4410</GainOrLoss>
          <GainsMinusExcessOrLosses>4410</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>WAL-MART STORES</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2011-08-08</DateSold>
          <GrossSalesPrice>402314</GrossSalesPrice>
          <CostOrOtherBasis>428624</CostOrOtherBasis>
          <GainOrLoss>-26310</GainOrLoss>
          <GainsMinusExcessOrLosses>-26310</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>PIMCO ALL ASSET</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2010-10-20</DateSold>
          <GrossSalesPrice>10408</GrossSalesPrice>
          <CostOrOtherBasis>9528</CostOrOtherBasis>
          <GainOrLoss>880</GainOrLoss>
          <GainsMinusExcessOrLosses>880</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>RUSSELL GROWTH STRG</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2010-10-20</DateSold>
          <GrossSalesPrice>207957</GrossSalesPrice>
          <CostOrOtherBasis>239105</CostOrOtherBasis>
          <GainOrLoss>-31148</GainOrLoss>
          <GainsMinusExcessOrLosses>-31148</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>VIRTUS ALPHASECTOR</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2010-10-20</DateSold>
          <GrossSalesPrice>2182</GrossSalesPrice>
          <CostOrOtherBasis>1991</CostOrOtherBasis>
          <GainOrLoss>191</GainOrLoss>
          <GainsMinusExcessOrLosses>191</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>DUKE REALTY</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2010-01-20</DateSold>
          <GrossSalesPrice>4157</GrossSalesPrice>
          <CostOrOtherBasis>4375</CostOrOtherBasis>
          <GainOrLoss>-218</GainOrLoss>
          <GainsMinusExcessOrLosses>-218</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>LORD ABBETT CLASSIC</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2010-10-20</DateSold>
          <GrossSalesPrice>11104</GrossSalesPrice>
          <CostOrOtherBasis>11719</CostOrOtherBasis>
          <GainOrLoss>-615</GainOrLoss>
          <GainsMinusExcessOrLosses>-615</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>PIMCO ALL ASSET</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2010-10-20</DateSold>
          <GrossSalesPrice>116748</GrossSalesPrice>
          <CostOrOtherBasis>121403</CostOrOtherBasis>
          <GainOrLoss>-4655</GainOrLoss>
          <GainsMinusExcessOrLosses>-4655</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>VIACOM INC</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2010-10-20</DateSold>
          <GrossSalesPrice>19397</GrossSalesPrice>
          <CostOrOtherBasis>19000</CostOrOtherBasis>
          <GainOrLoss>397</GainOrLoss>
          <GainsMinusExcessOrLosses>397</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>VIRTUS ALPHASECTOR</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2010-10-20</DateSold>
          <GrossSalesPrice>114170</GrossSalesPrice>
          <CostOrOtherBasis>124716</CostOrOtherBasis>
          <GainOrLoss>-10546</GainOrLoss>
          <GainsMinusExcessOrLosses>-10546</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainsAndLossesInfo>
          <DescriptionOfAsset>RUSSELL GROWTH STRG</DescriptionOfAsset>
          <HowAcquired>P</HowAcquired>
          <DateSold>2010-10-20</DateSold>
          <GrossSalesPrice>201761</GrossSalesPrice>
          <CostOrOtherBasis>216585</CostOrOtherBasis>
          <GainOrLoss>-14824</GainOrLoss>
          <GainsMinusExcessOrLosses>-14824</GainsMinusExcessOrLosses>
        </CapitalGainsAndLossesInfo>
        <CapitalGainNetIncome>-125019</CapitalGainNetIncome>
      </CapitalGainsAndLosses>
      <QlfyUndSect4940eForReducedTax>
        <LiableFor4942Tax>0</LiableFor4942Tax>
        <QualifyingDistributionsYear1>293972</QualifyingDistributionsYear1>
        <NoncharitableAssetsYear1>5829868</NoncharitableAssetsYear1>
        <DistributionRatioYear1>.050425</DistributionRatioYear1>
        <QualifyingDistributionsYear2>150000</QualifyingDistributionsYear2>
        <NoncharitableAssetsYear2>3161183</NoncharitableAssetsYear2>
        <DistributionRatioYear2>.047451</DistributionRatioYear2>
        <QualifyingDistributionsYear3>138172</QualifyingDistributionsYear3>
        <NoncharitableAssetsYear3>2753213</NoncharitableAssetsYear3>
        <DistributionRatioYear3>.050186</DistributionRatioYear3>
        <QualifyingDistributionsYear4>95000</QualifyingDistributionsYear4>
        <NoncharitableAssetsYear4>2242524</NoncharitableAssetsYear4>
        <DistributionRatioYear4>.042363</DistributionRatioYear4>
        <QualifyingDistributionsYear5>89018</QualifyingDistributionsYear5>
        <NoncharitableAssetsYear5>1728324</NoncharitableAssetsYear5>
        <DistributionRatioYear5>.051505</DistributionRatioYear5>
        <TotalDistributionRatio>.241930</TotalDistributionRatio>
        <AverageDistributionRatio>.048386</AverageDistributionRatio>
        <NetNoncharitableAssets>6724457</NetNoncharitableAssets>
        <AdjustedNoncharitableAssets>325370</AdjustedNoncharitableAssets>
        <OnePercentNetInvestmentIncome>653</OnePercentNetInvestmentIncome>
        <AdjNonchrtblAssetsAndOnePct>326023</AdjNonchrtblAssetsAndOnePct>
        <QualifyingDistributions>335000</QualifyingDistributions>
      </QlfyUndSect4940eForReducedTax>
      <ExciseTaxBasedOnInvestmentIncm>
        <DomesticOrgMeetingSect4940e>X</DomesticOrgMeetingSect4940e>
        <InvestmentIncomeExciseTax>653</InvestmentIncomeExciseTax>
        <TaxUnderSection511>0</TaxUnderSection511>
        <Subtotal>653</Subtotal>
        <SubtitleATax>0</SubtitleATax>
        <TaxBasedOnInvestmentIncome>653</TaxBasedOnInvestmentIncome>
        <EstTaxPaymentsAndOverpayment>1040</EstTaxPaymentsAndOverpayment>
        <TotalCreditsAndPayments>1040</TotalCreditsAndPayments>
        <Overpayment>387</Overpayment>
        <AmountCreditedToNextYear>387</AmountCreditedToNextYear>
        <AmountToBeRefunded>0</AmountToBeRefunded>
      </ExciseTaxBasedOnInvestmentIncm>
      <StatementsRegardingActivities>
        <LegislativePoliticalActivities>0</LegislativePoliticalActivities>
        <MoreThan100Spent>0</MoreThan100Spent>
        <Form1120POLFiled>0</Form1120POLFiled>
        <Sect4955TaxOnOrganization>0</Sect4955TaxOnOrganization>
        <Sect4955TaxOnManagers>0</Sect4955TaxOnManagers>
        <ReimbursementOfTax>0</ReimbursementOfTax>
        <ActivitiesNotPrevReported>0</ActivitiesNotPrevReported>
        <ChangesToArticlesOrBylaws>0</ChangesToArticlesOrBylaws>
        <UnrelatedBusIncomeOver1000>0</UnrelatedBusIncomeOver1000>
        <TerminationEtc>0</TerminationEtc>
        <RequirementsOfSect508e>1</RequirementsOfSect508e>
        <AtLeast5000InAssets>1</AtLeast5000InAssets>
        <StatesFiledWith>NJ</StatesFiledWith>
        <Form990PFFiledWithAG>1</Form990PFFiledWithAG>
        <PrivateOperatingFoundation>0</PrivateOperatingFoundation>
        <NewSubstantialContributors referenceDocumentId="RetDoc2089200001">1</NewSubstantialContributors>
        <InterestInControlledEntity>0</InterestInControlledEntity>
        <ApplicableInsuranceContract>0</ApplicableInsuranceContract>
        <ComplyWithPublicInspectionRqr>1</ComplyWithPublicInspectionRqr>
        <WebsiteAddress>N/A</WebsiteAddress>
        <BooksInCareOfPersonName>FRANK DIACO</BooksInCareOfPersonName>
        <BooksInCareOfPhoneNumber>9734847300</BooksInCareOfPhoneNumber>
        <BooksInCareOfUSAddress>
          <AddressLine1>10-12 NO 7TH STREET</AddressLine1>
          <City>BELLEVILLE</City>
          <State>NJ</State>
          <ZIPCode>07109</ZIPCode>
        </BooksInCareOfUSAddress>
        <ForeignBank>0</ForeignBank>
      </StatementsRegardingActivities>
      <StatementsRegardingActy4720>
        <SaleOrExchangeWithDsqflyPerson>0</SaleOrExchangeWithDsqflyPerson>
        <BorrowOrLendWithDsqflyPerson>0</BorrowOrLendWithDsqflyPerson>
        <FurnishedGoodsWithDsqflyPerson>0</FurnishedGoodsWithDsqflyPerson>
        <PayCompensationToDsqflyPerson>0</PayCompensationToDsqflyPerson>
        <TransferAssetsToDsqflyPerson>0</TransferAssetsToDsqflyPerson>
        <PaymentToGovernmentOffical>0</PaymentToGovernmentOffical>
        <UncorrectedPriorActs>0</UncorrectedPriorActs>
        <UndistributedIncomePriorYears>0</UndistributedIncomePriorYears>
        <BusinessHoldings>0</BusinessHoldings>
        <JeopardyInvestments>0</JeopardyInvestments>
        <UncorrectedJeopardyInvestments>0</UncorrectedJeopardyInvestments>
        <InfluenceLegislation>0</InfluenceLegislation>
        <InfluenceElection>0</InfluenceElection>
        <GrantsToIndividuals>0</GrantsToIndividuals>
        <GrantsToOrganizations>0</GrantsToOrganizations>
        <NoncharitablePurpose>0</NoncharitablePurpose>
        <RcvFundsToPayPrsnlBnftContract>0</RcvFundsToPayPrsnlBnftContract>
        <PayPremiumsPrsnlBnftContract>0</PayPremiumsPrsnlBnftContract>
        <ProhibitedTaxShelterTransactn>0</ProhibitedTaxShelterTransactn>
      </StatementsRegardingActy4720>
      <OfcrDirTrusteesKeyEmployeeInfo>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>JOSEPH DIACO</PersonName>
          <USAddress>
            <AddressLine1>820 TRAILING RIDGE RD</AddressLine1>
            <City>FRANKLIN LAKES</City>
            <State>NJ</State>
            <ZIPCode>07417</ZIPCode>
          </USAddress>
          <Title>PRESIDENT</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>THEODORE F DIACO</PersonName>
          <USAddress>
            <AddressLine1>2 VISTA COURT</AddressLine1>
            <City>KINNELON</City>
            <State>NJ</State>
            <ZIPCode>07405</ZIPCode>
          </USAddress>
          <Title>VICE PRESIDENT</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>VALERIE SILVESTRI</PersonName>
          <USAddress>
            <AddressLine1>1 SUNNY KNOLL COURT</AddressLine1>
            <City>WAYNE</City>
            <State>NJ</State>
            <ZIPCode>07470</ZIPCode>
          </USAddress>
          <Title>SECRETARY</Title>
          <AvgHoursPerWkDevotedToPosition>10.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>30000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>STEPHANIE EMPERIO</PersonName>
          <USAddress>
            <AddressLine1>209 FOREST RIDGE COURT</AddressLine1>
            <City>FRANKLIN LAKES</City>
            <State>NJ</State>
            <ZIPCode>07417</ZIPCode>
          </USAddress>
          <Title>VICE PRESIDENT</Title>
          <AvgHoursPerWkDevotedToPosition>10.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>30000</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>FRANK P DIACO</PersonName>
          <USAddress>
            <AddressLine1>204 HOLLY LANE</AddressLine1>
            <City>CEDAR GROVE</City>
            <State>NJ</State>
            <ZIPCode>07009</ZIPCode>
          </USAddress>
          <Title>TREASURER</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <CompOfHighestPaidEmplNONE>NONE</CompOfHighestPaidEmplNONE>
        <TotNumberOfOthEmplPaidOver50k>0</TotNumberOfOthEmplPaidOver50k>
        <CompOfHghstPaidCntrctNONE>NONE</CompOfHghstPaidCntrctNONE>
        <TotNumberOfCntrctPaidOver50k>0</TotNumberOfCntrctPaidOver50k>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SumOfProgramRelatedInvestments>
        <Total>0</Total>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>6734205</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>92655</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>0</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>6826860</TotalFMVOfUnusedAssets>
        <ReductionClaimed>0</ReductionClaimed>
        <AcquisitionIndebtedness>0</AcquisitionIndebtedness>
        <AdjTotalFMVOfUnusedAssets>6826860</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>102403</CashDeemedCharitable>
        <NetNoncharitableAssets>6724457</NetNoncharitableAssets>
        <MinimumInvestmentReturn>336223</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>336223</MinimumInvestmentReturn>
        <TaxBasedOnInvestmentIncome>653</TaxBasedOnInvestmentIncome>
        <TotalTax>653</TotalTax>
        <DistributableAmountBeforeAdj>335570</DistributableAmountBeforeAdj>
        <RecoveriesQlfyDistributions>0</RecoveriesQlfyDistributions>
        <DistributableAmountBeforeDed>335570</DistributableAmountBeforeDed>
        <DeductionFrDistributableAmount>0</DeductionFrDistributableAmount>
        <DistributableAmountAsAdjusted>335570</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>335000</ExpensesAndContributions>
        <ProgramRelatedInvestmentsTotal>0</ProgramRelatedInvestmentsTotal>
        <QualifyingDistributions>335000</QualifyingDistributions>
        <OnePctSect4940eOrgNetInvstIncm>653</OnePctSect4940eOrgNetInvstIncm>
        <AdjQualifyingDistributions>334347</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>335570</DistributableAmountAsAdjusted>
        <UndistributedIncomePriorYear>0</UndistributedIncomePriorYear>
        <TotalForPriorYears>0</TotalForPriorYears>
        <ExcessDistriCarryoverYear3>3584</ExcessDistriCarryoverYear3>
        <ExcessDistriCarryoverYear1>4535</ExcessDistriCarryoverYear1>
        <TotalExcessDistriCarryover>8119</TotalExcessDistriCarryover>
        <QualifyingDistributions>335000</QualifyingDistributions>
        <AppliedToYear1>0</AppliedToYear1>
        <AppliedToPriorYears>0</AppliedToPriorYears>
        <TreatedAsDistriFromCorpus>0</TreatedAsDistriFromCorpus>
        <AppliedToCurrentYear>335000</AppliedToCurrentYear>
        <RemainingDistriFromCorpus>0</RemainingDistriFromCorpus>
        <ExcessDistriCyovAppCYCorpus>570</ExcessDistriCyovAppCYCorpus>
        <ExcessDistriCyovAppliedCY>570</ExcessDistriCyovAppliedCY>
        <TotalCorpus>7549</TotalCorpus>
        <PriorYearUndistributedIncome>0</PriorYearUndistributedIncome>
        <PriorYearDeficiencyOrTax>0</PriorYearDeficiencyOrTax>
        <TaxableAmount1>0</TaxableAmount1>
        <TaxableAmount2>0</TaxableAmount2>
        <UndistributedIncomeCY>0</UndistributedIncomeCY>
        <DistriFromCorpus170b1EOr4942g3>0</DistriFromCorpus170b1EOr4942g3>
        <ExcessDistriCyovFromYear5>0</ExcessDistriCyovFromYear5>
        <ExcessDistriCyovToNextYear>7549</ExcessDistriCyovToNextYear>
        <ExcessFromYear3>3014</ExcessFromYear3>
        <ExcessFromYear1>4535</ExcessFromYear1>
      </UndistributedIncome>
      <SupplementaryInformation>
        <OnlyContributesToPreselected>X</OnlyContributesToPreselected>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>AMERICAN RED CROSS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>389 MILLBURN AVE</AddressLine1>
            <City>MILLBURN</City>
            <State>NJ</State>
            <ZIPCode>07041</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>15000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ARCHDIOCESE OF NEWARK</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>171 CLIFTON AVE</AddressLine1>
            <City>NEWARK</City>
            <State>NJ</State>
            <ZIPCode>07104</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>20000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DEAF MOSAICS CENTER INC</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>3500 SUNSET AVE</AddressLine1>
            <City>OCEAN</City>
            <State>NJ</State>
            <ZIPCode>07712</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DIOCESE OF PATERSON ST JOSEPH FUND</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>777 VALLEY ROAD</AddressLine1>
            <City>CLIFTON</City>
            <State>NJ</State>
            <ZIPCode>07013</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>80000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>EL SALVADOR EDUCATION FUND co MOST BLESSED SACRAMENT CHURCH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>787 FRANKLIN LAKES RD</AddressLine1>
            <City>FRANKLIN LAKES</City>
            <State>NJ</State>
            <ZIPCode>07417</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MEMORIAL SLOAN KETTERING CANCER CENTER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1275 YORK AVE</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10021</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>60000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>OASIS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>59 MILL STREET</AddressLine1>
            <City>PATERSON</City>
            <State>NJ</State>
            <ZIPCode>07051</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SALESIAN SISTERS OF ST JOHN BOSCO</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>659 BELMONT AVE</AddressLine1>
            <City>NORTH HALEDON</City>
            <State>NJ</State>
            <ZIPCode>07508</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SALVATION ARMY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>4 GARY ROAD</AddressLine1>
            <City>UNION</City>
            <State>NJ</State>
            <ZIPCode>07083</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>15000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SEVERAL SOURCES SHELTERS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>PO BOX 157</AddressLine1>
            <City>RAMSEY</City>
            <State>NJ</State>
            <ZIPCode>07446</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SISTERS OF SAINT JOSEPH</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>9701 GERMANTOWN AVE</AddressLine1>
            <City>PHILADELPHIA</City>
            <State>PA</State>
            <ZIPCode>19118</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CLARA MASS HOSPITAL FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1 CLARA MASS DRIVE</AddressLine1>
            <City>BELLEVILLE</City>
            <State>NJ</State>
            <ZIPCode>07109</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>EVA'S KITCHEN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>393 MAIN ST</AddressLine1>
            <City>PATERSON</City>
            <State>NJ</State>
            <ZIPCode>07501</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>RELIGIOUS TEACHERS FILLIPINI FUND</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>455 WESTERN AVENUE</AddressLine1>
            <City>MORRISTOWN</City>
            <State>NJ</State>
            <ZIPCode>07960</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>FREEDOM ALLIANCE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>22570 MARKEY CT</AddressLine1>
            <City>DULLES</City>
            <State>VA</State>
            <ZIPCode>20166</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HACKENSACK UNIVERSITY MEDICAL FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>360 ESSEX ST</AddressLine1>
            <City>HACKENSACK</City>
            <State>NJ</State>
            <ZIPCode>07601</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>KIDS CORPORATION II</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>6 ATLANTIC ST</AddressLine1>
            <City>NEWARK</City>
            <State>NJ</State>
            <ZIPCode>07102</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>LITTLE SISTERS OF THE POOR</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>140 SHEPHERD LANE</AddressLine1>
            <City>TOTOWA</City>
            <State>NJ</State>
            <ZIPCode>07512</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>MT SAINT DOMINICK</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>3 RYERSON AVE</AddressLine1>
            <City>CALDWELL</City>
            <State>NJ</State>
            <ZIPCode>07006</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>SETON HALL UNIVERSITY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>400 SOUTH AVENUE</AddressLine1>
            <City>SOUTH ORANGE</City>
            <State>NJ</State>
            <ZIPCode>07079</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>10000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ST BARNABAS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>94 OLD SHORT HILLS RD</AddressLine1>
            <City>LIVINGSTON</City>
            <State>NJ</State>
            <ZIPCode>07039</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ST JUDES CHILDREN'S RESEARCH HOSPITAL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>501 ST JUDE PLACE</AddressLine1>
            <City>MEMPHIS</City>
            <State>TN</State>
            <ZIPCode>38105</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ST MICHAEL'S FOUNDATION</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1160 RAYMOND BLVD</AddressLine1>
            <City>NEWARK</City>
            <State>NJ</State>
            <ZIPCode>07102</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>N/A</RecipientRelationship>
          <RecipientFoundationStatus>PUBLIC CHARITY</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>CHARITABLE</PurposeOfGrantOrContribution>
          <Amount>5000</Amount>
        </GrantOrContriPaidDuringYear>
        <TotGrantOrContriPaidDuringYear>305000</TotGrantOrContriPaidDuringYear>
        <TotGrantOrContriApprovedFuture>0</TotGrantOrContriApprovedFuture>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <DividendsAndIntFromSecPartVII>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>109768</ExclusionAmount>
        </DividendsAndIntFromSecPartVII>
        <GainSalesAssetsOthThanInvntry>
          <ExclusionCode>14</ExclusionCode>
          <ExclusionAmount>-125019</ExclusionAmount>
        </GainSalesAssetsOthThanInvntry>
        <SubtotalsPartXVIA>
          <UnrelatedBusinessIncomeAmount>0</UnrelatedBusinessIncomeAmount>
          <ExclusionAmount>-15251</ExclusionAmount>
          <RelatedOrExemptFunctionIncome>0</RelatedOrExemptFunctionIncome>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>-15251</TotalPartXVIA>
      </AnalysisIncomeProducingActy>
      <TrnsfrTrRlnWithNoncharitableEO>
        <TrnsfrOfCashToNoncharitableEO>0</TrnsfrOfCashToNoncharitableEO>
        <TrnsfrOthAssetsNoncharitableEO>0</TrnsfrOthAssetsNoncharitableEO>
        <SalesOrExchangesOfAssets>0</SalesOrExchangesOfAssets>
        <PurchaseAssetsNoncharitableEO>0</PurchaseAssetsNoncharitableEO>
        <RentalOfFacilitiesEtc>0</RentalOfFacilitiesEtc>
        <ReimbursementArrangements>0</ReimbursementArrangements>
        <LoansOrLoanGuarantees>0</LoansOrLoanGuarantees>
        <PerformanceOfServicesEtc>0</PerformanceOfServicesEtc>
        <SharingOfFacilitiesEtc>0</SharingOfFacilitiesEtc>
        <RelationshipsNoncharitableEOs>0</RelationshipsNoncharitableEOs>
      </TrnsfrTrRlnWithNoncharitableEO>
    </IRS990PF>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <Organization501c3ExemptPF>X</Organization501c3ExemptPF>
      <GeneralRule>X</GeneralRule>
      <ContributorInfo>
        <ContributorNumber>1</ContributorNumber>
        <ContributorNameIndividual>POWER ELECTRIC CO</ContributorNameIndividual>
        <ContributorAddressUS>
          <AddressLine1>10-22 NORTH 7TH STREET</AddressLine1>
          <City>BELLEVILLE</City>
          <State>NJ</State>
          <ZIPCode>07109</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>830000</AggregateContributions>
        <PersonContributionType>X</PersonContributionType>
      </ContributorInfo>
    </IRS990ScheduleB>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2044400001">
      <InvestmentsCorpBonds>
        <NameOfBond>2031.656 FORD MOTOR CO DEL 7.5% SENIOR NOTES</NameOfBond>
        <EOYBookValue>50765</EOYBookValue>
        <EOYFMV>53412</EOYFMV>
      </InvestmentsCorpBonds>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorpStock>
        <NameOfStock>4070.901 HEALTH CARE REIT INC 7.875% CUM REDEEMABLE PREFERRED STOCK</NameOfStock>
        <EOYBookValue>101793</EOYBookValue>
        <EOYFMV>103541</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>VIRTUS</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>100 @ ESCROW FOR S&amp;P MANAGED</NameOfStock>
        <EOYBookValue>93476</EOYBookValue>
        <EOYFMV>50000</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>175 DUKE REALTY CORP</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>370.233 LORD ABBETT</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>7644 PIMCO FDS</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>RUSSELL FRANK BAL</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>VIACOM INC</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>AT &amp; T</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>GENERAL ELECTRIC</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>PEPSICO</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>WALMART</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>5,000 Shares A T &amp; T</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>CITIGROUP INC</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>RUSSELL GROWTH STRTGY</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>BANK OF AMERICA</NameOfStock>
        <EOYBookValue>0</EOYBookValue>
        <EOYFMV>0</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>LORD ABBETT SHORT DURATION</NameOfStock>
        <EOYBookValue>600000</EOYBookValue>
        <EOYFMV>588261</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>PIMCO REAL RETURN FUND</NameOfStock>
        <EOYBookValue>600000</EOYBookValue>
        <EOYFMV>614885</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>T ROWE PRICE SHORT TERM</NameOfStock>
        <EOYBookValue>600000</EOYBookValue>
        <EOYFMV>595062</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>VANGUARD INFLATION PRO SECS ADM SHR</NameOfStock>
        <EOYBookValue>600000</EOYBookValue>
        <EOYFMV>623627</EOYFMV>
      </InvestmentsCorpStock>
      <InvestmentsCorpStock>
        <NameOfStock>VANGUARD S/T INVESTMENT GRADE FUND</NameOfStock>
        <EOYBookValue>650000</EOYBookValue>
        <EOYFMV>643959</EOYFMV>
      </InvestmentsCorpStock>
    </InvestmentsCorpStockSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpenses>
        <Description>BANK FEES</Description>
        <RevenueAndExpensesPerBooks>165</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>165</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFees>
        <Category>ASSET MANAGEMENT FEES</Category>
        <Amount>14263</Amount>
        <NetInvestmentIncome>14263</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </OtherProfessionalFees>
    </OtherProfessionalFeesSchedule>
    <SubstantialContributorsSch documentId="RetDoc2089200001">
      <SubstantialContributor>
        <PersonName>POWER ELECTRIC CO</PersonName>
        <USAddress>
          <AddressLine1>10-12 NORTH 7TH STREET</AddressLine1>
          <City>BELLEVILLE</City>
          <State>NJ</State>
          <ZIPCode>07109</ZIPCode>
        </USAddress>
      </SubstantialContributor>
    </SubstantialContributorsSch>
    <TaxesSchedule documentId="RetDoc2002500001">
      <Taxes>
        <Category>TAX ON INVESTMENT INCOME</Category>
        <Amount>348</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </Taxes>
      <Taxes>
        <Category>STATE FILING FEE</Category>
        <Amount>30</Amount>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>