﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2024v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-11-07T16:47:29-05:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <DisasterReliefTxt>HURRICANE MILTON</DisasterReliefTxt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>465579590</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>SILVER &amp; COMPANY PA</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>5660 COLLINS AVENUE 10-D</AddressLine1Txt>
        <CityNm>MIAMI BEACH</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>33140</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>030473333</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>YAVITZ CYPEN FOUNDATION INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>YAVI</BusinessNameControlTxt>
      <PhoneNum>3055323200</PhoneNum>
      <USAddress>
        <AddressLine1Txt>5500 COLLINS AVENUE 1204</AddressLine1Txt>
        <CityNm>MIAMI BEACH</CityNm>
        <StateAbbreviationCd>FL</StateAbbreviationCd>
        <ZIPCd>33140</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>ARLYN CYPEN</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>3055323200</PhoneNum>
      <SignatureDt>2025-11-07</SignatureDt>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>MICHAEL A SILVER</PreparerPersonNm>
      <PTIN>P01072132</PTIN>
      <PhoneNum>3059741000</PhoneNum>
      <PreparationDt>2025-11-07</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="12">
    <IRS990PF documentId="RetDoc15" referenceDocumentId="RetDoc13">
      <SpecialConditionDesc>HURRICANE MILTON</SpecialConditionDesc>
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>18097725</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>241139</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>241139</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>166706</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>166706</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt referenceDocumentId="RetDoc4">694801</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>8232661</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>175274</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>1102646</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>583119</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>120000</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>24000</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>96000</CompOfcrDirTrstDsbrsChrtblAmt>
        <PensionEmplBnftRevAndExpnssAmt>9642</PensionEmplBnftRevAndExpnssAmt>
        <PensionEmplBnftNetInvstIncmAmt>1928</PensionEmplBnftNetInvstIncmAmt>
        <PensionEmplBnftDsbrsChrtblAmt>7714</PensionEmplBnftDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2">54000</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>10800</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>43200</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc11">194975</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>194975</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc12">8280</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>3062</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>61</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc9">4707</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesDsbrsChrtblAmt>4607</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>391604</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>234765</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>151582</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>630604</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>630604</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>1022208</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>234765</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>782186</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>80438</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>348354</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>568090</CashBOYAmt>
        <CashEOYAmt>204294</CashEOYAmt>
        <CashEOYFMVAmt>204294</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>483181</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>294447</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>294447</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>8957931</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc6">9110293</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>11066053</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>6125383</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc5">6396449</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>6309348</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>511582</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc7">237442</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>222453</OtherInvestmentsEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="RetDoc8">6692</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc8">1130</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc8">1130</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>16652859</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>16244055</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>18097725</TotalAssetsEOYFMVAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="RetDoc10">495426</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="RetDoc10">6184</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>495426</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>6184</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
        <NoDonorRstrNetAssestsBOYAmt>16157433</NoDonorRstrNetAssestsBOYAmt>
        <NoDonorRstrNetAssestsEOYAmt>16237871</NoDonorRstrNetAssestsEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>16157433</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>16237871</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>16652859</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>16244055</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>16157433</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>80438</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>16237871</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>16237871</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapitalGainNetIncomeAmt>175274</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>4842</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>4842</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>4842</TaxBasedOnInvestmentIncomeAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc1">X</Form2220AttachedInd>
        <EsPenaltyAmt>259</EsPenaltyAmt>
        <TaxDueAmt>5101</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>FL</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>ARLYN CYPEN</IndividualWithBooksNm>
        <PhoneNum>3055323200</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>5500 COLLINS AVENUE 1204</AddressLine1Txt>
          <CityNm>MIAMI BEACH</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>33140</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ARLYN CYPEN</PersonNm>
          <USAddress>
            <AddressLine1Txt>5500 COLLINS AVENUE 1204</AddressLine1Txt>
            <CityNm>MIAMI BEACH</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33140</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>15.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>45000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JENNIFER KAPLAN</PersonNm>
          <USAddress>
            <AddressLine1Txt>5660 COLLINS AVENUE 10-C</AddressLine1Txt>
            <CityNm>MIAMI BEACH</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33140</ZIPCd>
          </USAddress>
          <TitleTxt>SECY - TREAS</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>15.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>75000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName referenceDocumentId="RetDoc3">
            <BusinessNameLine1Txt>JPMORGAN SECURITIES LLC</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>277 PARK AVENUE</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10172</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INV. ADVISORY</ServiceTypeTxt>
          <CompensationAmt>194975</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName referenceDocumentId="RetDoc3">
            <BusinessNameLine1Txt>SILVER &amp; COMPANY PA</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>5660 COLLINS AVENUE 10-D</AddressLine1Txt>
            <CityNm>MIAMI BEACH</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33140</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>ACCOUNTING</ServiceTypeTxt>
          <CompensationAmt>54000</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>17175771</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>775006</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>3911</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>17954688</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>17954688</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>269320</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>17685368</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>884268</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>884268</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>4842</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>4842</TotalTaxAmt>
        <DistributableBeforeAdjAmt>879426</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>879426</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>879426</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>782186</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>782186</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>879426</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>685097</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>782186</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>685097</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>97089</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>782337</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>ARLYN CYPEN</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>5500 COLLINS AVENUE 1204</AddressLine1Txt>
            <CityNm>MIAMI BEACH</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33140</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>3055323200</RecipientPhoneNum>
          <RecipientEmailAddressTxt>ACYPEN@AOL.COM</RecipientEmailAddressTxt>
          <FormAndInfoAndMaterialsTxt>NO PRESCRIBED FORM</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>NONE</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>NONE</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>SEE SCHEDULE ATTACHED</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>VARIOUS</AddressLine1Txt>
            <CityNm>VARIOUS</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33140</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>PUBLIC SUPPORT CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>630604</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>630604</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>241139</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>166706</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>190928</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>503873</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>598773</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>503873</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>1102646</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="RetDoc2">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING &amp; TAX PREPARATION FEE</CategoryTxt>
        <Amt>54000</Amt>
        <NetInvestmentIncomeAmt>10800</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>43200</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <ContractorCompensationExpln documentId="RetDoc3">
      <ContractorCompExplnGrp>
        <ContractorBusinessName>
          <BusinessNameLine1Txt>JPMORGAN SECURITIES LLC</BusinessNameLine1Txt>
        </ContractorBusinessName>
        <ExplanationTxt>INVESTMENT ADVISORY FEES</ExplanationTxt>
      </ContractorCompExplnGrp>
      <ContractorCompExplnGrp>
        <ContractorBusinessName>
          <BusinessNameLine1Txt>SILVER &amp; COMPANY PA</BusinessNameLine1Txt>
        </ContractorBusinessName>
        <ExplanationTxt>BUSINESS &amp; TAX SERVICES</ExplanationTxt>
      </ContractorCompExplnGrp>
    </ContractorCompensationExpln>
    <GainLossSaleOtherAssetsSch documentId="RetDoc4">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SCHEDULE ATTACHED 4079</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>294522</GrossSalesPriceAmt>
        <BasisAmt>287985</BasisAmt>
        <TotalNetAmt>6537</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SCHEDULE ATTACHED 4079</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>211800</GrossSalesPriceAmt>
        <BasisAmt>202683</BasisAmt>
        <TotalNetAmt>9117</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SCHEDULE ATTACHED 4080</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>2396457</GrossSalesPriceAmt>
        <BasisAmt>2392124</BasisAmt>
        <TotalNetAmt>4333</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SCHEDULE ATTACHED 4080</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>1959326</GrossSalesPriceAmt>
        <BasisAmt>1997234</BasisAmt>
        <TotalNetAmt>-37908</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SCHEDULE ATTACHED 4086</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>50858</GrossSalesPriceAmt>
        <BasisAmt>49426</BasisAmt>
        <TotalNetAmt>1432</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SCHEDULE ATTACHED 4086</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>3144424</GrossSalesPriceAmt>
        <BasisAmt>2608408</BasisAmt>
        <TotalNetAmt>536016</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpBondsSchedule documentId="RetDoc5">
      <InvestmentsCorporateBondsGrp>
        <BondNm>CORPORATE BONDS</BondNm>
        <EOYBookValueAmt>6396449</EOYBookValueAmt>
        <EOYFMVAmt>6309348</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc6">
      <InvestmentsCorporateStockGrp>
        <StockNm>COMMON STOCK</StockNm>
        <EOYBookValueAmt>9110293</EOYBookValueAmt>
        <EOYFMVAmt>11066053</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc7">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MUTUAL FUNDS/ALTERNATIVES</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>237442</BookValueAmt>
        <EOYFMVAmt>222453</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherAssetsSchedule documentId="RetDoc8">
      <OtherAssetsScheduleGrp>
        <Desc>INTEREST &amp; DIVIDENDS RECEIVABLE</Desc>
        <BOYBookValueAmt>6692</BOYBookValueAmt>
        <EOYBookValueAmt>1130</EOYBookValueAmt>
        <EOYFMVAmt>1130</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc9">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BOOKKEEPING</Desc>
        <RevenueAndExpensesPerBooksAmt>320</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>320</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>COMPUTER MAINTENANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>932</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>832</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MEMBERSHIP FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>794</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>794</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES &amp; EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>2798</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>2798</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PENALTIES</Desc>
        <RevenueAndExpensesPerBooksAmt>-137</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>-137</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherLiabilitiesSchedule documentId="RetDoc10">
      <OtherLiabilitiesDetail>
        <Desc>CREDIT CARDS PAYABLE</Desc>
        <BOYBookValueAmt>495426</BOYBookValueAmt>
        <EOYBookValueAmt>6184</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc11">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT ADVISORY FEES</CategoryTxt>
        <Amt>194975</Amt>
        <NetInvestmentIncomeAmt>194975</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc12">
      <TaxesDetail>
        <CategoryTxt>ANNUAL FILING FEE</CategoryTxt>
        <Amt>61</Amt>
        <DisbursementsCharitablePrpsAmt>61</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAX PAYMENTS - NET</CategoryTxt>
        <Amt>5157</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES PAID</CategoryTxt>
        <Amt>3062</Amt>
        <NetInvestmentIncomeAmt>3062</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>