Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2011
For calendar year 2011, or tax year beginning 08-01-2011 , and ending 07-31-2012
G
Check all that apply:
Name of foundation
DALE KRUEGER SCHOLARSHIP FUND 97350810
 

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 3168   Room/suite
City or town, state, and ZIP code
PORTLAND, OR97208
A Employer identification number

93-6331222
B Telephone number (see page 10 of the instructions)

(503) 275-4327
C bullet
D 1. bullet
H Check type of organization:
2. bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$9,390,638J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 178,599 178,599  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 556,889
b Gross sales price for all assets on line 6a 15,326,980
7 Capital gain net income (from Part IV, line 2)... 556,889
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 735,488 735,488  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 113,023 101,721   11,302
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment 1,500 0 0 1,500
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 6,453     0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 14,493     14,493
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 135,469 101,721 0 27,295
25 Contributions, gifts, grants paid........ 525,998 525,998
26 Total expenses and disbursements. Add lines 24 and 25 661,467 101,721 0 553,293
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 74,021
b Net investment income (if negative, enter -0-) 633,767
c Adjusted net income (if negative, enter -0-)... 0
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2011)
Form 990-PF (2011)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............      
2 Savings and temporary cash investments.......... 133,162 463,382 463,382
3 Accounts receivable bullet8,902
Less: allowance for doubtful accounts bullet     8,902 8,902
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 6,023,785 Click to see attachment6,901,814 7,017,747
c Investments—corporate bonds (attach schedule)........ 2,996,217 Click to see attachment1,864,560 1,900,607
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........     0
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 9,153,164 9,238,658 9,390,638
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 9,153,164 9,238,658
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 9,153,164 9,238,658
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 9,153,164 9,238,658
Part III Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
with end-of-year figure reported on prior year’s return)............... 1 9,153,164
2 Enter amount from Part I, line 27a..................... 2 74,021
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 11,475
4 Add lines 1, 2, and 3.......................... 4 9,238,660
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 2
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 9,238,658
Form 990-PF (2011)
Form 990-PF (2011)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a 15340.167 NUVEEN INTERMEDIATE TERM B CL I   2002-10-15 2011-08-02
b 13774.493 NUVEEN DIVIDEND VALUE FUND CLASS I   2007-02-02 2011-08-02
c 563.696 NUVEEN MID CAP GRWTH OPP FD CL I   2004-08-10 2011-08-02
d 122.077 NUVEEN SMALL CAP SELECT FD CL I   2006-01-09 2011-08-02
e 2262.89 NUVEEN INTERMEDIATE TERM B CL I   2002-10-15 2011-09-22
188033.103 NUVEEN INTERMEDIATE TERM B CL I     2011-12-02
25955.624 NUVEEN SHORT TERM BOND FUND CL I   2009-12-16 2011-12-02
73166.23 NUVEEN INTERNATIONAL FUND CL I     2011-12-02
198750.313 NUVEEN DIVIDEND VALUE FUND CLASS I     2011-12-02
17359.861 NUVEEN INTERMEDIATE GOVT BD FD CL I   2009-12-16 2011-12-02
10948.079 NUVEEN LARGE CAP GRWTH OPP CL I     2011-12-02
6158.655 NUVEEN LARGE CAP GRWTH OPP CL I   2011-03-10 2011-12-02
14569.796 NUVEEN MID CAP GRWTH OPP FD CL I     2011-12-02
27207.686 NUVEEN SMALL CAP SELECT FD CL I     2011-12-02
7399. ISHARES CORE TOTAL US BOND MARKETETF   2011-12-05 2012-04-26
7772.176 NUVEEN SANTA BARBARA DIV GROWTH FD I   2011-12-02 2012-04-26
10992.997 NUVEEN HIGH INCOME BOND FD CL I   2012-03-27 2012-04-26
1931.937 NUVEEN REAL ESTATE SECS I   2011-12-02 2012-04-26
51973.388 NUVEEN INTERMEDIATE TERM B CL I     2012-04-26
1376.663 PRICE T ROWE GROWTH STK FD INC #40   2011-12-02 2012-04-26
4159.332 ROWE T PRICE MID-CAP GROWTH FD #64   2011-12-02 2012-04-26
2120.424 T ROWE PRICE SC STOCK   2011-12-02 2012-04-26
18356.975 AMERICAN EUROPACIFIC GRTH F2   2012-04-26 2012-06-21
29285.115 NUVEEN SANTA BARBARA DIV GROWTH FD I   2011-12-02 2012-06-21
20848.516 PRICE T ROWE GROWTH STK FD INC #40   2011-12-02 2012-06-21
6617.091 ROWE T PRICE MID-CAP GROWTH FD #64   2011-12-02 2012-06-21
8340.011 T ROWE PRICE SC STOCK   2011-12-02 2012-06-21
47445.983 LAUDUS INTL MARKETMASTERS FUND SEL   2011-12-02 2012-06-21
9788.282 SCOUT INTERNATIONAL FUND   2011-12-02 2012-06-21
15064.886 SCOUT INTERNATIONAL FUND   2011-03-10 2012-06-21
32905.899 VANGUARD EQUITY INCOME INV     2012-06-21
1977.00056 IPATH DOW JONES UBS COMMODITY   2011-12-02 2012-07-24
653.99944 IPATH DOW JONES UBS COMMODITY   2011-12-02 2012-07-24
5688.702 NUVEEN REAL ESTATE SECS I   2011-12-02 2012-07-24
14029.868 P I M C O FDS TOTAL RETURN FD   2011-03-11 2012-07-25
CAPITAL GAIN DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 162,606   156,010 6,596
b 179,895   212,265 -32,370
c 25,733   20,834 4,899
d 1,705   1,770 -65
e 23,738   23,014 724
1,951,784   1,898,452 53,332
255,403   258,778 -3,375
807,024   845,991 -38,967
2,627,479   2,544,085 83,394
155,718   149,295 6,423
371,030   298,588 72,442
208,717   211,365 -2,648
644,276   431,163 213,113
370,297   375,244 -4,947
817,773   806,791 10,982
207,517   187,853 19,664
96,409   96,958 -549
41,363   35,200 6,163
551,438   510,670 40,768
52,217   44,384 7,833
247,938   241,990 5,948
74,936   72,625 2,311
659,199   718,492 -59,293
736,228   707,821 28,407
737,412   672,156 65,256
365,793   384,982 -19,189
277,139   285,645 -8,506
805,158   806,107 -949
281,217   281,315 -98
432,814   495,183 -62,369
747,293   709,635 37,658
83,422   86,806 -3,384
27,596   28,716 -1,120
122,307   103,648 18,659
160,923   153,066 7,857
      238
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       6,596
b       -32,370
c       4,899
d       -65
e       724
      53,332
      -3,375
      -38,967
      83,394
      6,423
      72,442
      -2,648
      213,113
      -4,947
      10,982
      19,664
      -549
      6,163
      40,768
      7,833
      5,948
      2,311
      -59,293
      28,407
      65,256
      -19,189
      -8,506
      -949
      -98
      -62,369
      37,658
      -3,384
      -1,120
      18,659
      7,857
       
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 556,889
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions).
If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2010 607,981 9,474,405 0.064171
2009 733,772 8,932,761 0.082144
2008 850,493 7,955,794 0.106902
2007 962,036 10,990,560 0.087533
2006 828,097 11,578,103 0.071523
2 Total of line 1, column (d) ...................... 2 0.412273
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3 0.082455
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 9,080,210
5 Multiply line 4 by line 3....................... 5 748,709
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 6,338
7 Add lines 5 and 6......................... 7 755,047
8 Enter qualifying distributions from Part XII, line 4.............. 8 553,293
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2011)
Form 990-PF (2011)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 12,675
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2............................ 3 12,675
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 12,675
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 2,172
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 2,172
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 10,503
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2012 estimated taxBullet   Refunded Bullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletOR
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV..........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletUS BANK Telephone no.bullet (503) 275-4327
    Located atbullet555 SW OAKPORTLANDOR ZIP+4bullet97204
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2011, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2011?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2011, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2011?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2011 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2011.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2011?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    US BANK TRUSTEE
    1     		114,523    
    PO BOX 3168
    PORTLAND,OR97208
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3..........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    8,751,416
    b
    Average of monthly cash balances.......................
    1b
    467,071
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    9,218,487
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    9,218,487
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    138,277
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    9,080,210
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    454,011
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    454,011
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    12,675
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    12,675
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    441,336
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    1,666
    5
    Add lines 3 and 4............................
    5
    443,002
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    443,002
    Part XII
    Qualifying Distributions (see page 25 of the instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    553,293
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    553,293
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    553,293
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 8
    Part XIII
    Undistributed Income (see page 26 of the instructions)
    (a)
    Corpus     		(b)
    Years prior to 2010     		(c)
    2010     		(d)
    2011
    1 Distributable amount for 2011 from Part XI, line 7 443,002
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only....... 0
    b Total for prior years:2009, 20, 20 0
    3 Excess distributions carryover, if any, to 2011:
    a From 2006....... 14,969
    b From 2007....... 428,980
    c From 2008....... 457,881
    d From 2009....... 290,436
    e From 2010....... 118,768
    fTotal of lines 3a through e......... 1,311,034
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 553,293
    a Applied to 2010, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		 0
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		0
    d Applied to 2011 distributable amount..... 443,002
    e Remaining amount distributed out of corpus 110,291
    5 Excess distributions carryover applied to 2011. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 1,421,325
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		0
    e Undistributed income for 2010. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		0
    f Undistributed income for 2011. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		0
    8Excess distributions carryover from 2006 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		14,969
    9Excess distributions carryover to 2012.
    Subtract lines 7 and 8 from line 6a ......     		1,406,356
    10 Analysis of line 9:
    a Excess from 2007.... 428,980
    b Excess from 2008.... 457,881
    c Excess from 2009.... 290,436
    d Excess from 2010.... 118,768
    e Excess from 2011.... 110,291
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2011, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2011 (b) 2010 (c) 2009 (d) 2008
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    WILLIAM DOLAN
    US BANK - PO BOX 3168
    PORTLAND,OR97208
    (503) 275-5929
    bThe form in which applications should be submitted and information and materials they should include:
    CONTACT ABOVE
    cAny submission deadlines:
    APRIL 1
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    GRADUATES OF GRESHAM, BARLOW, REYNOLDS OR CENTENNIAL HIGH SCHOOLS.
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    THE ART INSTITUTE OF
    PORTLAND
    1122 NW DAVIS ST
    PORTLAND,OR97209     		NONE PUBLIC SCHOLARSHIP 2,000
    BARNARD COLLEGE
    11 MILBANK HALL
    3009 BROADWAY
    NEW YORK,NY10027     		NONE COLLEGE SCHOLARSHIP 2,000
    BIOLA UNIVERSITY
    13800 BIOLA AVE
    LA MIRADA,CA90639     		NONE UNIVERSITY SCHOLARSHIPS 4,000
    BOISE STATE UNIVERSITY
    1910 UNIVERSITY DRIVE
    BOISE,ID83725     		NONE UNIVERSITY SCHOLARSHIPS 4,000
    CENTRAL WASHINGTON UNIV
    400 E 8TH AVENUE
    ELLENSBURG,WA98926     		NONE PUBLIC SCHOLARSHIP 2,000
    CITY COLLEGE OF SAN FRANCISCO
    50 PHELAN AVE CLOUD 324
    SAN FRANCISCO,CA94112     		NONE COLLEGE SCHOLARSHIPS 2,000
    COLUMBIA UNIVERSITY
    100 HAMILTON HALL MC 2802
    1130 AMSTERDAM AVE
    NEW YORK,NY10027     		NONE UNIVERSITY SCHOLARSHIP 2,000
    CONCORDIA UNIVERSITY
    2811 NE HOLMAN ST
    PORTLAND,OR97211     		NONE UNIVERSITY SCHOLARSHIPS 22,000
    CORBAN COLLEGE
    5000 DEER PARK DR SE
    SALEM,OR97317     		NONE COLLEGE SCHOLARSHIPS 8,000
    CORNELL COLLEGE
    600 FIRST STREET WEST
    MT VERNON,IA52314     		NONE COLLEGE SCHOLARSHIPS 4,000
    EASTERN OREGON UNIV
    FINANCIAL AID OFFICE
    ONE UNIVERSITY BLVD
    LA GRANDE,OR97850     		NONE UNIVERSITY SCHOLARSHIPS 4,000
    EASTERN WASHINGTON UNIV
    OFFICE OF FINANCIAL AID
    102 SUTTON HALL
    CHENEY,WA99004     		NONE UNIVERSITY SCHOLARSHIP 2,000
    GEORGE FOX UNIVERSITY
    FINANCIAL AID OFFICE
    414 N MERIDIAN ST
    NEWBERG,OR97132     		NONE UNIVERSITY SCHOLARSHIP 10,000
    GEORGE WASHINGTON UNIV
    COLONIAL CENTRAL/GROUND FLOOR
    800 21ST STREET NW
    WASHINGTON,DC20052     		NONE UNIVERSITY SCHOLARSHIP 2,000
    GONZAGA UNIVERSITY
    502 E BOONE AVE
    SPOKANE,WA99258     		NONE UNIVERSITY SCHOLARSHIPS 8,000
    HARDING UNIVERSITY
    BOX 12282
    SEARCY,AZ72149     		NONE UNIVERSITY SCHOLARSHIPS 4,000
    LANE COMMUNITY COLLEGE
    FINANCIAL AID OFFICE
    4000 E 30TH AVE
    EUGENE,OR97405     		NONE COLLEGE SCHOLARSHIP 667
    LINFIELD COLLEGE
    FINANCIAL AID OFFICE
    900 SE BAKER ST
    MCMINNVILLE,OR97128     		NONE COLLEGE SCHOLARSHIPS 14,000
    MASSACHUSETTS INSTITUTE
    OF TECHNOLOGY
    77 MASSACHUSETTS AVE RM 11-320
    CAMBRIDGE,MA02139     		NONE SCHOOL SCHOLARSHIP 2,000
    MONTANA STATE UNIVERSITY
    FINANCIAL AID OFFICE
    PO BOX 174160
    BOZEMAN,MT59717     		NONE UNIVERSITY SCHOLARSHIP 2,000
    MT HOOD COMMUNITY COLLEGE
    OFFICE OF FINANCIAL AID
    26000 SE STARK ST
    GRESHAM,OR97030     		NONE COLLEGE SCHOLARSHIPS 65,331
    MULTNOMAH UNIVERSITY
    FINANCIAL AID OFFICE
    8435 NE GLISAN
    PORTLAND,OR97220     		NONE UNIVERSITY SCHOLARSHIP 2,000
    NEW MEXICO HIGHLANDS UNIV
    PO BOX 9000
    LAS VEGAS,NV87701     		NONE UNIVERSITY SCHOLARSHIP 2,000
    NORTHERN ARIZONA UNIV
    FINANCIAL AID OFFICE
    PO BOX 4108
    FLAGSTAFF,AZ86011     		NONE UNIVERSITY SCHOLARSHIP 2,000
    OREGON INSTITUTE OF TECH
    3201 CAMPUS DRIVE
    KLAMATH FALLS,OR97601     		NONE SCHOOL SCHOLARSHIP 2,000
    OREGON STATE UNIVERSITY
    OFFICE OF FINANCIAL AID
    218 KERR ADMIN BLDG
    CORVALLIS,OR97331     		NONE UNIVERSITY SCHOLARSHIPS 85,333
    OZARK CHRISTIAN COLLEGE
    1111 N MAIN ST
    JOPLIN,MO64801     		NONE COLLEGE SCHOLARSHIP 2,000
    PACIFIC LUTHERN UNIV
    12180 PARK AVE S
    TACOMA,WA98447     		NONE UNIVERSITY SCHOLARSHIP 2,000
    PACIFIC UNIVERSITY
    OFFICE OF FINANCIAL AID
    2043 COLLEGE WAY
    FOREST GROVE,OR97116     		NONE UNIVERSITY SCHOLARSHIPS 8,000
    PENNSYLVANIA STATE UNIV
    314 SHIELDS BLDG
    UNIVERSITY PARK,PA16802     		NONE UNIVERSITY SCHOLARSHIP 2,000
    PEPPERDINE UNIVERSITY
    OFFICE OF FINANCIAL AID
    24255 PACIFIC COAST HWY
    MALIBU,CA90263     		NONE UNIVERSITY SCHOLARSHIP 2,000
    PORTLAND COMM COLLEGE
    PO BOX 19000
    PORTLAND,OR97280     		NONE COLLEGE SCHOLARSHIPS 3,333
    PORTLAND STATE UNIVERSITY
    FINANCIAL AID OFFICE
    PO BOX 851
    PORTLAND,OR97207     		NONE UNIVERSITY SCHOLARSHIPS 50,668
    REED COLLEGE
    3203 SE WOODSTOCK BLVD
    PORTLAND,OR97202     		NONE COLLEGE SCHOLARSHIPS 4,000
    SEATTLE PACIFIC UNIV
    FINANCIAL AID OFFICE
    3307 3RD AVE WEST
    SEATTLE,WA98119     		NONE UNIVERSITY SCHOLARSHIPS 12,000
    SHORELINE COMM COLLEGE
    16101 GREENWOOD AVE N
    SHORELINE,WA98133     		NONE COLLEGE SCHOLARSHIP 2,000
    SOUTHERN OREGON UNIV
    FINANCIAL AID OFFICE
    1250 SISKIYOU BLVD
    ASHLAND,OR97520     		NONE UNIVERSITY SCHOLARSHIPS 4,000
    STANFORD UNIVERSITY
    355 GALVEX ST
    STANFORD,CA94305     		NONE UNIVERSITY SCHOLARSHIPS 4,000
    TAYLOR UNIVERSITY
    236 WEST READE AVE
    UPLAND,IN46989     		NONE UNIVERSITY SCHOLARSHIP 1,000
    UCLA REMITTANCE CENTER
    BOX 951432 1125 MURPHY HALL
    405 HILGARD AVE
    LOS ANGELES,CA90095     		NONE UNIVERSITY SCHOLARSHIP 2,000
    UNIVERSITY OF ARKANSAS
    2013 ARKANSAS UNION
    FAYETTEVILLE,AR72701     		NONE UNIVERSITY SCHOLARSHIP 2,000
    UNIVERSITY OF CHICAGO
    OFFICE OF FINANCIAL AID
    WALKER 309 1101 58TH ST
    CHICAGO,IL60637     		NONE UNIVERSITY SCHOLARSHIP 2,000
    UNIVERSITY OF DENVER
    OFFICE OF FINANCIAL AID
    2197 S UNIVERSITY BLVD
    DENVER,CO80208     		NONE UNIVERSITY SCHOLARSHIP 2,000
    UNIVERSITY OF HAWAII
    AT MANOA
    2600 CAMPUS DR
    HONOLULU,HI96822     		NONE UNIVERSITY SCHOLARSHIP 2,000
    UNIVERSITY OF IOWA
    FINANCIAL AID OFFICE
    208 CALVIN HALL
    IOWA CITY,IA52242     		NONE PUBLIC SCHOLARSHIP 2,000
    UNIV OF PENNSYLVANIA
    140 FRANKLIN BLDG
    3451 WALNUT ST
    PHILADELPHIA,PA19104     		NONE UNIVERSITY SCHOLARSHIP 2,000
    UNIVERSITY OF PORTLAND
    FINANCIAL AID OFFICE
    5000 N WILLAMETTE BLVD
    PORTLAND,OR97203     		NONE UNIVERSITY SCHOLARSHIPS 36,000
    UNIVERSITY OF PUGET SOUND
    1500 N WARNER ST CMB 1039
    TACOMA,WA98416     		NONE UNIVERSITY SCHOLARSHIP 2,000
    UNIVERSITY OF OREGON
    1278 UNIVERSITY OF OREGON
    EUGENE,OR97403     		NONE UNIVERSITY SCHOLARSHIPS 51,333
    VIRGINIA WESLEYAN COLLEGE
    1584 WESLEYAN DR
    NORFOLK,VA23502     		NONE COLLEGE SCHOLARSHIPS 2,000
    WARNER PACIFIC COLLEGE
    FINANCIAL AID OFFICE
    2219 SE 68TH AVE
    PORTLAND,OR97215     		NONE COLLEGE SCHOLARSHIPS 7,666
    WASHINGTON STATE UNIV
    FINANCIAL AID OFFICE
    PO BOX 641068
    PULLMAN,WA99164     		NONE UNIVERSITY SCHOLARSHIP 2,000
    WESTERN OREGON UNIVERSITY
    FINANCIAL AID OFFICE
    345 N MONMOUTH AVE
    MONMOUTH,OR97361     		NONE UNIVERSITY SCHOLARSHIPS 42,667
    WHEATON COLLEGE
    FINANCIAL AID OFFICE
    501 COLLEGE AVE
    WHEATON,IL60187     		NONE COLLEGE SCHOLARSHIP 2,000
    WHITMAN COLLEGE
    345 BOYER AVE
    WALLA WALLA,WA99362     		NONE COLLEGE SCHOLARSHIPS 4,000
    WHITWORTH UNIVERSITY
    300 W HAWTHORNE RD
    SPOKANE,WA99251     		NONE UNIVERSITY SCHOLARSHIP 2,000
    WILLAMETTE UNIVERSITY
    900 STATE STREET
    SALEM,OR97301     		NONE UNIVERSITY SCHOLARSHIPS 4,000
    Total .................................bullet 3a 525,998
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments          
    4 Dividends and interest from securities....     14 178,599  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8Gain or (loss) from sales of assets other than inventory     18 556,889  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   735,488  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13735,488
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2011)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2011 AccountingFeesSchedule
    Name:
    DALE KRUEGER SCHOLARSHIP FUND 97350810
    EIN: 93-6331222
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEES 1,500     1,500

    TY 2011 InvestmentsCorpBondsSchedule
    Name:
    DALE KRUEGER SCHOLARSHIP FUND 97350810
    EIN: 93-6331222
    Name of Bond End of Year Book Value End of Year Fair Market Value
    NUVEEN INTERMEDIATE TERM BOND    
    NUVEEN INTERMEDIATE GOVT BD    
    NUVEEN SHORT TERM BOND    
    AMER CENT DIVERSIFIED BOND 766,391 781,595
    NUVEEN HIGH INCOME BOND FD 445,070 464,515
    T ROWE PRICE INTL BOND FD 653,099 654,497

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    DALE KRUEGER SCHOLARSHIP FUND 97350810
    EIN: 93-6331222
    Name of Stock End of Year Book Value End of Year Fair Market Value
    SONOVA HLDG UNSPON ADR 11,977 11,625
    NUVEEN EQUITY INCOME    
    NUVEEN MID CAP GRWTH OPP    
    NUVEEN SMALL CAP SELECT    
    NUVEEN INTERNATIONAL FUND    
    NUVEEN LARGE CAP GRWTH OPP    
    PIMCO TOTAL RETURN FD 838,884 869,939
    SCOUT INTERNATIONAL FD    
    ABAXIS INC 6,687 6,032
    ABBOTT LABORATORIES 22,196 22,678
    AMERICAN EXPRESS CO 42,261 40,916
    AMERISOURCESBERGEN CORP 17,380 17,389
    ANSYS INC 14,913 13,851
    APPLE INC 83,443 83,063
    APTAR GROUP INC 9,104 8,652
    ATHENAHEALTH INC 8,997 9,882
    ATT INC 25,353 26,847
    BEACON ROOFING SUPPLY INC 10,355 10,471
    BERKSHIRE HATHAWAY INC 59,652 60,491
    BLACKROCK INC 13,219 13,110
    BUCKLE INC 8,848 8,933
    CABOT MICROELECTRONICS CORP 4,139 4,057
    CACI INTERNATIONAL INC 9,231 9,145
    CATERPILLAR INC 12,280 11,874
    CEPHEID INC 15,362 10,830
    CHEMED CORP 7,719 7,783
    CHEVRON CORP 22,315 23,012
    CHURCH AND DWIGHT CO INC 9,310 9,448
    COCA COLA COMPANY 25,474 26,260
    COCA COLA ENTERPRISES INC 15,105 15,540
    COGNIZANT TECH SOLUTIONS 34,034 31,961
    CONCUR TECHNOLOGIES INC 7,903 7,835
    COSTAR GROUP INC 5,750 5,612
    CULLEN FROST BANKERS INC 14,189 13,496
    CUMMINS INC 37,529 35,963
    DIGI INTERNATIONAL INC 5,302 4,904
    DONALDSON CO INC 9,597 9,659
    DRESSER RAND GROUP INC 9,187 9,116
    E M C CORPORATION 25,974 26,813
    EATON CORP 12,587 13,590
    ECHO GLOBAL LOGISTICS INC 5,577 5,394
    EMERSON ELEC CO 14,284 14,856
    ENERGEN CORP 9,830 10,805
    EQUITABLE CORP 20,038 20,586
    EXPEDITORS INTL WASH INC 30,280 27,247
    EXPRESS SCRIPTS HLDGS 41,038 43,397
    F M C CORPORATION 9,388 9,518
    FASTENAL CO 12,991 13,540
    FIDELITY NATL INFO SVCS INC 16,817 15,248
    FISERV INC 5,973 5,751
    FORRESTER RESH INC 4,756 3,939
    FOSSIL INC 9,034 9,105
    GENTEX CORP 11,276 8,357
    GILEAD SCIENCES INC 33,211 34,934
    GOOGLE INC 56,907 60,132
    GRAINGER W W INC 8,871 9,422
    HAIN CELESTIAL GROUP INC 9,227 9,189
    HEXEL CORP 9,307 8,128
    HMS HLDGS CORP 9,412 9,428
    HORMEL FOODS CORP 11,122 10,187
    IDEXX LABS INC 9,184 8,376
    IHS INC 13,148 13,343
    INFORMATICA CORP 9,331 6,345
    INNERWORKINGS INC 10,622 9,832
    INTL BUSINESS MACHINES CORP 20,822 20,774
    IPC THE HOSPITALIST CO INC 10,091 9,718
    ITC HLDGS CORP 12,203 12,835
    J P MORGAN CHASE CO 17,112 17,784
    KINDER MORGAN INC 14,306 15,398
    KINDER MORGAN MGMT LLC 6,881 6,898
    KIRBY CORP 9,209 10,185
    LINCOLN ELEC HLDGS INC 9,615 8,654
    LINEAR TECHNOLOGY CORP 8,629 8,740
    LKQ CORP 11,702 12,048
    LORILLARD INC 23,373 22,126
    M D U RES GROUP INC 10,335 10,434
    MAXIMUS INC 11,908 11,362
    MCCORMICK CO INC 18,568 18,386
    MEDNAX INC 6,415 6,216
    MICROCHIP TECHNOLOGY INC 21,379 21,430
    MICROS SYS INC 9,283 8,545
    MICROSOFT CORP 21,303 20,423
    MOBILE MINI INC 5,167 5,155
    MOTOROLA SOLUTIONS INC 18,191 18,176
    MYLAN INC 9,176 9,650
    NATIONAL INSTRS CORP 13,197 12,481
    NATIONAL OILWELL VARCO INC 26,171 28,052
    NETGEAR INC 9,154 8,588
    NY COMMUNITY BANCORP INC 17,464 17,627
    NEXTERA ENERGY INC 23,378 24,106
    O REILLY AUTOMOTIVE INC 9,634 9,517
    OIL STATES INTL INC 9,074 9,596
    ONEOK INC 16,093 16,691
    PACCAR INC 9,811 10,123
    PANERA BREAD COMPANY 9,417 10,552
    PATTERSON COMPANIES INC 7,286 7,059
    PERRIGO CO 27,971 27,023
    PETSMART INC 9,332 9,057
    PFIZER INC 22,425 23,655
    PHILIP MORRIS INTL 22,751 23,409
    PORTFOLIO RECOVERY ASSOC 7,054 6,690
    POWER INTEGRATIONS INC 4,680 4,229
    PROCTER & GAMBLE CO 13,842 14,521
    QUALCOMM INC 66,859 70,363
    QUESTCOR PHARMACEUTICALS INC 9,084 6,600
    ROCKWOOD HLDGS INC 2,947 2,919
    ROLLINS INC 5,474 5,706
    ROPER INDS INC 10,748 10,741
    ROSS STORES INC 10,105 9,966
    SCHWAB CHARLES CORP 34,173 33,406
    SEMTECH CORP 8,388 7,979
    SIGMA ALDRICH CORP 9,163 8,581
    SIGNATURE BK 8,446 8,836
    SKYWORKS SOLUTIONS INC 9,182 9,576
    SOLARWINDS INC 8,650 10,250
    SOUTHERN COPPER CORP 21,366 21,466
    STERICYCLE INC 34,293 34,262
    T ROWE PRICE GROUP INC 7,093 6,865
    TECHNE CORP 10,497 9,671
    TERDATA CORP 9,268 8,588
    TIME WARNER CABLE INC 18,929 19,534
    ULTA SALON COSMETICS & FRAG 9,288 8,318
    ULTIMATE SOFTWARE GROUP INC 18,078 17,626
    UNION PACIFIC CORP 17,434 18,024
    UNITED NAT FOODS INC 21,877 21,503
    V F CORP 28,248 31,204
    VARIAN MED SYS INC 33,729 29,910
    VERISK ANALYTICS INC 33,256 33,316
    VISA INC 28,568 29,041
    WABTEC CORP 9,420 9,502
    WATERS CORP 9,229 8,910
    WELLS FARGO CO 18,010 18,291
    WHOLE FOODS MKT 9,948 9,453
    YUM BRANDS INC 20,725 20,684
    ACCENTURE PLC 15,258 15,135
    ADIDAS AG A D R 14,284 14,638
    AGRIUM INC 15,414 15,858
    AIA GROUP LTD ADR 15,063 14,978
    AIR LIQUIDE S A A D R 27,468 27,090
    ALLIANZ SE A D R 14,489 14,592
    AMADEUS IT HLDG UNSP A D R 14,134 15,387
    AMERICA MOVIL A D R 18,264 18,843
    ANHEUSER BUSCH INBEV NV A D R 15,003 15,131
    ARM HLDGS PLC A D R 21,329 22,810
    ASAHI KASEI CORP A D R 15,064 14,677
    ATLAS COPCO AB SPONS A D R 12,083 12,413
    AU OPTRONICS CORP A D R 14,896 10,943
    B G GROUP P L C A D R 16,765 15,967
    BOMBARDIER INC 23,260 19,593
    BUNGE LIMITED 8,069 8,353
    CANADIAN NATL RY CO 13,906 14,357
    CANON INC SPONS A D R 14,608 12,276
    COCHLEAR LTD UNSPON A D R 10,277 10,413
    CORE LABORATORIES N V 8,999 8,702
    CSL LIMITED A D R 10,653 11,792
    DAIMLER AG 14,038 15,385
    DASSAULT SYSTEMES SA A D R 24,495 26,000
    DBS GROUP HLDGS LTD 26,448 28,114
    DEUTSCHE BOERSE AG UNSPN A D R 16,482 15,213
    DEUTSCHE POST AG A D R 14,712 14,937
    DEUTSCHE TELEKOM AG A D R 15,418 16,031
    DIAGEO PLC SPONSORED A D R 14,495 15,073
    ERSTE GROUP BANK AG A D R 12,586 11,802
    EUROPEAN AERO DEFENSE SPACE CO 14,789 14,943
    FANUC CORPORATION A D R 24,350 22,256
    FRESENIUS MED CARE 21,097 21,681
    GEA GROUP AG SPON A D R 14,759 14,310
    HEINEKEN N V A D R 14,758 15,351
    HOYA CORP A D R 13,498 13,455
    HSBC HOLDINGS PLC SPONS A D R 7,410 7,022
    I C I C I BANK LIMITED A D R 14,899 15,406
    IMPERIAL OIL LTD 12,728 12,775
    ITAU UNIBANCO HLDGS SA A D R 7,649 8,221
    JGC CORP UNSPONSORED A D R 9,618 9,914
    JULIUS BAER GROUP LTD A D R 13,320 13,375
    KAO CORP A D R 14,628 14,305
    KOMATSU LTD A D R 15,933 13,955
    LI FUNG LTD A D R 25,253 24,995
    LONZA GROUP AG UNSPON A D R 7,045 7,391
    LOREAL CO UNSPONSORED ADR 16,643 17,225
    LVMH MOET HENNESSY LOU VUITT 9,458 9,255
    MARKS & SPENCER PLC A D R 14,993 15,095
    MTN GROUP LTD A D R 8,253 8,244
    NESTLE SA SPONSORED A D R 29,754 30,507
    NISSAN MTR LTD SPONSORED ADR 14,935 14,919
    NOKIAN TYRES OYJ UNSPON A D R 11,195 11,144
    NOVARTIS AG A D R 8,042 8,441
    NOVO NORDISK AS A D R 16,976 17,772
    OAO GAZPROM SPON A D R 5,510 5,259
    PETROLEO BRASILEIRO SPON ADR 8,781 8,583
    PORSCHE AUTOMOBIL HLDG SE ADR 13,887 13,860
    QIAGEN NV 16,725 17,170
    REPSOL SA SPONSORED ADR 14,098 14,089
    RIO TINTO PLC A D R 15,022 14,140
    RITCHIE BROS AUCTIONEERS INC 5,503 5,267
    ROCHE HLDG LTD A D R 40,955 42,408
    ROYAL DUTCH SHELL A D R 22,150 22,156
    ROYAL DUTCH SHELL PLC A D R 19,791 19,846
    SAFRAN SA UNSPON A D R 14,343 13,521
    SAIPEM SPA UNSPON A D R 21,279 22,126
    SAP AG A D R 41,297 44,289
    SASOL LTD SPONSORED A D R 7,055 6,804
    SCHUMBERGER LTD 63,284 68,125
    SCHNEIDER ELECT SA UNSP A D R 14,864 15,135
    SEADRILL LIMITED 20,909 22,498
    SECOM COMPANY LIMITED A D R 15,152 15,074
    SILICONWARE PRECISION IND CO 15,009 14,786
    SINGAPORE TELECOMMUNICATIONS 14,926 15,987
    SONY FINANCIAL HOLD A D R 14,449 14,040
    SUNCOR ENERGY INC 22,114 22,416
    SWATCH GROUP AG A D R 11,593 11,634
    SWISS RE LTD SPN A D R 15,046 15,034
    SYNGENTA A G A D R 15,200 15,241
    SYSMEX CORP UNSPON A D R 8,441 8,989
    TAIWAN SEMICONDUCTOR A D R 9,042 9,234
    TECHNIP-COFLEXIP A D R 14,470 14,728
    TESCO PLC A D R 31,790 31,875
    TEVA PHARMACEUTICAL INDS LTD 22,736 23,103
    TOKYO ELECTRON LTD ADR 15,061 15,123
    TOTO LTD 14,668 14,786
    TURKIYE GARANTI BANKASI AS ADR 14,319 13,705
    UNI CHARM CORPORATION A D R 20,281 19,635
    UNILEVER N V A D R 14,840 15,350
    UNILEVER PLC SPSD ADR 8,572 9,060
    VODAFONE GROUP PLC A D R 24,132 24,437
    WPP PLCSPONSORED A D R 18,371 18,753
    ABERDEEN FDS EMRGN MKT 455,199 475,251
    DRIEHAUS ACTIVE INCOME FUND 551,460 551,301
    IPATH DOW JONES UBS COMMODITY 376,989 372,289
    NUVEEN INFLATION PRO SEC 380,729 392,962
    NUVEEN REAL ESTATE SECS 308,989 372,585
    PYXIS LONG SHORT EQUITY 418,083 409,793

    TY 2011 OtherDecreasesSchedule
    Name:
    DALE KRUEGER SCHOLARSHIP FUND 97350810
    EIN: 93-6331222
    Description Amount
    ADJUSTMENT FOR ROUNDING 2


    TY 2011 OtherExpensesSchedule
    Name:
    DALE KRUEGER SCHOLARSHIP FUND 97350810
    EIN: 93-6331222
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE CHARITABLE FILING FEE 990 0   990
    DOMAIN RENEWAL & WEB HOSTING F 118 0   118
    WEBSITE DESIGN FEE 2,225 0   2,225
    WEBSITE MAINTENANCE FEE 11,160 0   11,160


    TY 2011 OtherIncreasesSchedule
    Name:
    DALE KRUEGER SCHOLARSHIP FUND 97350810
    EIN: 93-6331222
    Description Amount
    RETURNED SCHOLARSHIPS PY 1,666
    PRIOR YEAR ACCRUED INC SECS 9,809


    TY 2011 TaxesSchedule
    Name:
    DALE KRUEGER SCHOLARSHIP FUND 97350810
    EIN: 93-6331222
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 3,765 0   0
    FED EXCISE TAX PAYMENTS 516 0   0
    FED ESTIMATES PAID 2,172 0   0