Jeweled Coconut Drops with Raspberry Preserves

Ingredients

• 1/3 cup butter, softened
• 3 ounces cream cheese, softened
• 3/4 cup sugar
• 1 large egg yolk, room temperature
• 2 teaspoons orange juice
• 1 teaspoon almond extract
• 1-1/4 cups all-purpose flour
• 1-1/2 teaspoons baking powder
• 1/4 teaspoon salt
• 3-3/4 cups sweetened shredded coconut, divided
• 1 cup seedless raspberry preserves, warmed