﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2013v3.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2014-03-14T21:05:59-05:00</ReturnTs>
    <TaxPeriodEndDt>2013-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1>CROUCH &amp; COMPANY LLC</BusinessNameLine1>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1>14 N MAIN ST</AddressLine1>
        <City>WOODSTOWN</City>
        <State>NJ</State>
        <ZIPCode>080981115</ZIPCode>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2013-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>226809271</EIN>
      <BusinessName>
        <BusinessNameLine1>SALEM LIBRARY TRUST</BusinessNameLine1>
        <BusinessNameLine2>% MAURICE W AYARS</BusinessNameLine2>
      </BusinessName>
      <BusinessNameControlTxt>SALE</BusinessNameControlTxt>
      <PhoneNum>8564784618</PhoneNum>
      <USAddress>
        <AddressLine1>82 FERREL RD</AddressLine1>
        <City>MULLICA HILL</City>
        <State>NJ</State>
        <ZIPCode>08062</ZIPCode>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MAURICE W AYARS</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>8564784618</PhoneNum>
      <SignatureDt>2014-03-13</SignatureDt>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>KEVIN L CROUCH CPA</PreparerPersonNm>
      <PTIN>P00640127</PTIN>
      <PhoneNum>8567691040</PhoneNum>
      <PreparationDt>2014-03-13</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2013</TaxYr>
    <BuildTS>2015-12-30 17:16:21Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="9">
    <IRS990PF documentId="RetDoc1">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>391472</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>877</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>877</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>877</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>10242</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>10242</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>10242</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt referenceDocumentId="RetDoc4">1774</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>124218</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>1126</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>12893</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>12245</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>11119</TotalAdjNetIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2">1450</AccountingFeesRevAndExpnssAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc9">443</TaxesRevAndExpnssAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc8">50</OtherExpensesRevAndExpnssAmt>
        <TotOprExpensesRevAndExpnssAmt>1943</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>0</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>18437</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>18437</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>20380</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>0</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>18437</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-7487</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>12245</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>11119</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>87</CashBOYAmt>
        <CashEOYAmt>238</CashEOYAmt>
        <CashEOYFMVAmt>238</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>2149</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>4927</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>4927</SavAndTempCashInvstEOYFMVAmt>
        <AcctRcvblAmt>189</AcctRcvblAmt>
        <AcctRcvblBOYAmt>189</AcctRcvblBOYAmt>
        <AcctRcvblEOYAmt>189</AcctRcvblEOYAmt>
        <CorporateStockBOYAmt>56944</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc6">177787</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>213098</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>56705</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc5">20067</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>21197</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>213775</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc7">128271</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>152012</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>329849</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>331479</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>391472</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>265</AccountsPayableBOYAmt>
        <AccountsPayableEOYAmt>245</AccountsPayableEOYAmt>
        <GrantsPayableBOYAmt>6328</GrantsPayableBOYAmt>
        <GrantsPayableEOYAmt>15465</GrantsPayableEOYAmt>
        <TotalLiabilitiesBOYAmt>6593</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>15710</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <CapitalStockBOYAmt>323256</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>315769</CapitalStockEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>323256</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>315769</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>329849</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>331479</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>323256</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-7487</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>315769</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>315769</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapitalGainNetIncomeAmt>1126</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>16828</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>341865</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.049224</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>16546</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>335454</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.049324</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>15867</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>322447</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.049208</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>15652</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>315748</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.049571</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>17199</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>344930</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.049862</DistributionYr5Rt>
        <TotalDistributionRt>0.247189</TotalDistributionRt>
        <AverageDistributionRt>0.049438</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>373638</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>18472</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>122</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>18594</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>18437</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>245</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>245</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>245</TaxBasedOnInvestmentIncomeAmt>
        <TaxDueAmt>245</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>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>MAURICE W AYARS</IndividualWithBooksNm>
        <PhoneNum>8564784618</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1>82 FERREL RD</AddressLine1>
          <City>MULLICA HILL</City>
          <State>NJ</State>
          <ZIPCode>08062</ZIPCode>
        </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>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm referenceDocumentId="RetDoc3">MAURICE W AYARS</PersonNm>
          <USAddress>
            <AddressLine1>82 FERRELL RD</AddressLine1>
            <City>MULLICA HILL</City>
            <State>NJ</State>
            <ZIPCode>08062</ZIPCode>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>4.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>SALEM CITY LIBRARY FOR PURCHASE OF BOOKS</Description1Txt>
        <Expenses1Amt>18437</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>372305</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>7023</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>379328</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>379328</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>5690</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>373638</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>18682</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>18682</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>245</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>245</TotalTaxAmt>
        <DistributableBeforeAdjAmt>18437</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>18437</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>18437</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>18437</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>18437</QualifyingDistributionsAmt>
        <AdjustedQualifyingDistriAmt>18437</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>18437</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr5Amt>270</ExcessDistributionCyovYr5Amt>
        <TotalExcessDistributionCyovAmt>270</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>18437</QualifyingDistributionsAmt>
        <AppliedToCurrentYearAmt>18437</AppliedToCurrentYearAmt>
        <TotalCorpusAmt>270</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>270</ExcessDistriCyovFromYr5Amt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>NONE</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>SALEM LIBRARY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1>BROADWAY</AddressLine1>
            <City>SALEM</City>
            <State>NJ</State>
            <ZIPCode>08079</ZIPCode>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>BOOKS</GrantOrContributionPurposeTxt>
          <Amt>18437</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>18437</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <RelatedOrExemptFunctionIncmAmt>877</RelatedOrExemptFunctionIncmAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <RelatedOrExemptFunctionIncmAmt>10242</RelatedOrExemptFunctionIncmAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>1774</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <RelatedOrExemptFunctionIncmAmt>12893</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>12893</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>CROUCH &amp; CO CPA</CategoryTxt>
        <Amt>1450</Amt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <CompensationExplanation documentId="RetDoc3">
      <CompensationExplanationGrp>
        <PersonNm>MAURICE W AYARS</PersonNm>
      </CompensationExplanationGrp>
    </CompensationExplanation>
    <GainLossSaleOtherAssetsSch documentId="RetDoc4">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>CAP INCM BLDR A</AssetDesc>
        <AcquiredDt>2005-05</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2013-06</SoldDt>
        <GrossSalesPriceAmt>76141</GrossSalesPriceAmt>
        <BasisAmt>73339</BasisAmt>
        <TotalNetAmt>2802</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>FRK INCM A</AssetDesc>
        <AcquiredDt>2007-03</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2013-06</SoldDt>
        <GrossSalesPriceAmt>35117</GrossSalesPriceAmt>
        <BasisAmt>36638</BasisAmt>
        <TotalNetAmt>-1521</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>MUTUAL SHARES A</AssetDesc>
        <AcquiredDt>2007-03</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2013-06</SoldDt>
        <GrossSalesPriceAmt>11834</GrossSalesPriceAmt>
        <BasisAmt>12467</BasisAmt>
        <TotalNetAmt>-633</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpBondsSchedule documentId="RetDoc5">
      <InvestmentsCorporateBondsGrp>
        <BondNm>FRANKLIN INCOME FD</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>GENL ELECTRIC CAP CORP MEDIUM TERM</BondNm>
        <EOYBookValueAmt>20067</EOYBookValueAmt>
        <EOYFMVAmt>21197</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc6">
      <InvestmentsCorporateStockGrp>
        <StockNm>ALTRIA GROUP INC</StockNm>
        <EOYBookValueAmt>11000</EOYBookValueAmt>
        <EOYFMVAmt>12054</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AMERICAN ELECTRIC POWER CO</StockNm>
        <EOYBookValueAmt>9827</EOYBookValueAmt>
        <EOYFMVAmt>14022</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AMERICAN INTL GROUP</StockNm>
        <EOYBookValueAmt>11010</EOYBookValueAmt>
        <EOYFMVAmt>11588</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AT&amp;T INC</StockNm>
        <EOYBookValueAmt>16105</EOYBookValueAmt>
        <EOYFMVAmt>17580</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AUTOMATIC DATA PROCESSING</StockNm>
        <EOYBookValueAmt>6434</EOYBookValueAmt>
        <EOYFMVAmt>12120</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BRANDYWINE REALTY TRUST</StockNm>
        <EOYBookValueAmt>11004</EOYBookValueAmt>
        <EOYFMVAmt>11540</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DUKE ENERGY</StockNm>
        <EOYBookValueAmt>10980</EOYBookValueAmt>
        <EOYFMVAmt>11318</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FORD MOTOR COMPANY</StockNm>
        <EOYBookValueAmt>11017</EOYBookValueAmt>
        <EOYFMVAmt>10030</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FRONTIER COMMUNICATIONS</StockNm>
        <EOYBookValueAmt>442</EOYBookValueAmt>
        <EOYFMVAmt>260</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>HOME DEPOT</StockNm>
        <EOYBookValueAmt>10962</EOYBookValueAmt>
        <EOYFMVAmt>11775</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>INTERNATIONAL BUSINESS MACHINE CORP</StockNm>
        <EOYBookValueAmt>6062</EOYBookValueAmt>
        <EOYFMVAmt>18757</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>JOHNSON &amp; JOHNSON</StockNm>
        <EOYBookValueAmt>10940</EOYBookValueAmt>
        <EOYFMVAmt>11266</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PEPCO HOLDINGS</StockNm>
        <EOYBookValueAmt>5897</EOYBookValueAmt>
        <EOYFMVAmt>5739</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PFIZER INC</StockNm>
        <EOYBookValueAmt>11005</EOYBookValueAmt>
        <EOYFMVAmt>11670</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>POTASH CORP</StockNm>
        <EOYBookValueAmt>10939</EOYBookValueAmt>
        <EOYFMVAmt>11536</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PUBLIC SERIVCE ENTERPRISE GROUP</StockNm>
        <EOYBookValueAmt>10988</EOYBookValueAmt>
        <EOYFMVAmt>10541</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VERIZON COMMUNICATIONS</StockNm>
        <EOYBookValueAmt>12177</EOYBookValueAmt>
        <EOYFMVAmt>19656</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WALMART STORES INC</StockNm>
        <EOYBookValueAmt>10998</EOYBookValueAmt>
        <EOYFMVAmt>11646</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc7">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CAPITAL INCOME BLDR FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>GROWTH FUND AMER INC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>9395</BookValueAmt>
        <EOYFMVAmt>12106</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>AMER BAL FUND CL A</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>44681</BookValueAmt>
        <EOYFMVAmt>61138</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CAPITAL WRLD GRW &amp; INCOME</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>27119</BookValueAmt>
        <EOYFMVAmt>34901</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MUTUAL SER FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TEMPLETON GLOBAL</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>20101</BookValueAmt>
        <EOYFMVAmt>19624</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CALAMOS GLOBAL</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>6035</BookValueAmt>
        <EOYFMVAmt>4664</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>EATON VANCE</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>4840</BookValueAmt>
        <EOYFMVAmt>4000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>GABELLI EQUITY</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>5267</BookValueAmt>
        <EOYFMVAmt>5231</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PIMCO FDS TOTAL RETURN</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>10833</BookValueAmt>
        <EOYFMVAmt>10348</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="RetDoc8">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SURROGATE</Desc>
        <RevenueAndExpensesPerBooksAmt>50</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <TaxesSchedule documentId="RetDoc9">
      <TaxesDetail>
        <CategoryTxt>US TREASURY</CategoryTxt>
        <Amt>265</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES</CategoryTxt>
        <Amt>178</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>