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
2012
Open to Public Inspection
For calendar year 2012, or tax year beginning 01-01-2012 , and ending 12-31-2012
Name of foundation
ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
 

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 1118 ML CN-OH-W10X   Room/suite
City or town, state, and ZIP code
CINCINNATI, OH452011118
A Employer identification number

31-6664505
B Telephone number (see instructions)

(513) 632-3170
C bullet
G Check all that apply:

D 1. bullet
2. bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$11,770,480J 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 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...... 318,415 317,358 1,055
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 186,433
b Gross sales price for all assets on line 6a 3,035,290
7 Capital gain net income (from Part IV, line 2)... 186,433
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........ 504,848 503,791 1,055
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 135,267 121,740   13,527
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 instructions) Click to see attachment 21,349 2,102   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 224 24   200
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 158,340 123,866 0 15,227
25 Contributions, gifts, grants paid........ 566,294 566,294
26 Total expenses and disbursements. Add lines 24 and 25 724,634 123,866 0 581,521
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -219,786
b Net investment income (if negative, enter -0-) 379,925
c Adjusted net income (if negative, enter -0-)... 1,055
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2012)
Form 990-PF (2012)
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...............   7,120 7,120
2 Savings and temporary cash investments.......... 238,002 56,239 56,239
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet   32,861 0 0
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)........ 6,081,374 Click to see attachment5,450,282 7,471,476
c Investments—corporate bonds (attach schedule)........ 1,335,623 Click to see attachment1,152,043 1,101,410
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 2,070,035 Click to see attachment1,916,743 2,068,830
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment48,956 Click to see attachment1,004,362 Click to see attachment1,065,405
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 9,806,851 9,586,789 11,770,480
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)   Click to see attachment437
23 Total liabilities (add lines 17 through 22)..........   437
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......... 9,806,851 9,586,352
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).................... 9,806,851 9,586,352
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 9,806,851 9,586,789
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 9,806,851
2 Enter amount from Part I, line 27a..................... 2 -219,786
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 345
4 Add lines 1, 2, and 3.......................... 4 9,587,410
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 1,058
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 9,586,352
Form 990-PF (2012)
Form 990-PF (2012)
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 500. C M S ENERGY CORP   2010-10-04 2012-01-05
b 213. CHEVRONTEXACO CORP   2010-10-07 2012-01-05
c 281. CONOCOPHILLIPS   2000-12-06 2012-01-05
d 243. INTERNATIONAL BUSINESS MACHS CORP   2007-06-06 2012-01-05
e 500. MC DONALD'S CORP   2005-09-30 2012-01-05
500. NIKE INC   2010-10-04 2012-01-05
500. NORFOLK SOUTHN CORP   2010-11-08 2012-01-05
10823.193 NUVEEN INTERNATIONAL FUND CL I   2004-03-25 2012-01-05
1500. POWERSHARES QQQ NASDAQ 100   2010-07-12 2012-01-05
670. ROSS STORES INC   2011-06-30 2012-01-05
227. SCHLUMBERGER LTD   2003-09-02 2012-01-05
582. ACCENTURE PLC CL A   2010-11-02 2012-01-05
2500. C M S ENERGY CORP   2010-10-04 2012-02-03
1120. DUKE ENERGY CORP   2003-10-07 2012-02-03
. QWEST COMMUNICATIONS INTL INC     2012-05-04
82. BEST BUY CO INC   2009-06-26 2012-05-17
102. CARNIVAL CORP   2009-08-26 2012-05-17
110. MATTHEWS INTL CORP CL A   2009-07-28 2012-05-17
500. MC DONALD'S CORP   2005-09-30 2012-05-17
500. NIKE INC   2010-10-04 2012-05-17
1840. PEPSICO INC   2000-12-06 2012-05-17
443. PROCTER & GAMBLE CO   2000-12-06 2012-05-17
500. ROSS STORES INC   2011-06-30 2012-05-17
98. WAL MART STORES INC   2010-07-29 2012-05-17
472. BUNGE LIMITED   2011-06-30 2012-05-17
534. HERBALIFE LTD   2011-06-30 2012-05-17
.4 VALLEY NATL BANCORP   2009-09-28 2012-06-08
100000. GENERAL ELEC CAP MTN 6.000% 6/15/12   2002-08-01 2012-06-15
2000. PROCTER & GAMBLE CO   2000-12-06 2012-06-20
.666 DUKE ENERGY HOLDING CORP   2003-10-07 2012-07-23
1124. ARROW ELECTRS INC   2011-06-30 2012-07-31
251. DIODES INC   2008-12-23 2012-07-31
114. EMULEX CORP   2009-09-25 2012-07-31
255. ERICSSON LM TEL SP A D R   2009-06-18 2012-07-31
183. FAIRCHILD SEMICON INTL CL A   2007-06-06 2012-07-31
416. HITTITE MICROWAVE CORP   2011-06-30 2012-07-31
3391. METROPCS COMMUNICATIONS INC   2011-06-30 2012-07-31
111. ROGERS COMMUNICATIONS INC CL B   2010-02-26 2012-07-31
34. AIR PRODS & CHEMICALS INC COM W/ RTS TO PURCHASE PFD SHS EXP   2008-10-20 2012-08-16
82. APACHE CORP   2010-02-26 2012-08-16
38. AVALONBAY CMNTYS INC   2009-01-14 2012-08-16
54. B H P BILLITON LIMITED A D R   2008-12-23 2012-08-16
125. BIOMED REALTY TRUST INC   2008-05-07 2012-08-16
33. BOEING CO   2010-01-22 2012-08-16
28. BOSTON PPTYS INC   2008-11-21 2012-08-16
161. BRISTOW GROUP INC   2010-06-03 2012-08-16
33. CATERPILLAR INC   2009-11-11 2012-08-16
83. CORPORATE EXECUTIVE BRD CO   2010-05-07 2012-08-16
41. DELTIC TIMBER CORP   2007-11-20 2012-08-16
97. DUPONT FABROS TECHNOLOGY   2010-02-10 2012-08-16
84. ENPRO INDUSTRIES INC   2007-06-06 2012-08-16
79. GENERAL DYNAMICS CORP   2009-10-20 2012-08-16
59. HESS CORP   2009-09-09 2012-08-16
45. HOME PROPERTIES INC   2007-06-06 2012-08-16
118. J2 GLOBAL INC   2009-12-14 2012-08-16
243. KEYCORP NEW COM   2010-01-27 2012-08-16
24. KIMBERLY CLARK CORP   2010-08-25 2012-08-16
71. KINDRED HEALTHCARE INC   2007-11-20 2012-08-16
89. KRAFT FOODS INC CL A   2010-08-25 2012-08-16
87. LINCOLN NATL CORP COM   2009-08-11 2012-08-16
18. MASTERCARD INC   2009-09-09 2012-08-16
313. MENTOR GRAPHICS CORP   2008-05-30 2012-08-16
71. MERCK AND CO INC   2009-10-02 2012-08-16
148. METLIFE INC COM   2010-01-27 2012-08-16
59. MID-AMER APT CMNTYS INC   2007-06-06 2012-08-16
51. NATIONAL GRID PLC SP A D R   2010-09-14 2012-08-16
50. NORTHERN TR CORP   2009-01-14 2012-08-16
116. OCCIDENTAL PETE CORP COM   2009-04-13 2012-08-16
139. P N C FINANCIAL SERVICES GROUP INC   2009-04-30 2012-08-16
54. PS BUSINESS PKS INC   2010-06-29 2012-08-16
47. PACCAR INC   2009-10-26 2012-08-16
131. PEABODY ENERGY CORP   2010-06-22 2012-08-16
1100. PHILLIPS 66   2003-03-26 2012-08-16
183. SIGNATURE BK   2007-06-06 2012-08-16
274. SIMON PPTY GROUP INC NEW   2011-06-30 2012-08-16
92. SNAP ON INC   2009-09-21 2012-08-16
1690. SONIC AUTOMOTIVE INC CLASS A   2011-06-30 2012-08-16
1072. TRW AUTOMOTIVE HLDGS CORP   2011-06-30 2012-08-16
35. TENNANT CO   2008-08-04 2012-08-16
26. TEXAS INDS INC   2008-08-04 2012-08-16
46. THERMO FISHER SCIENTIFIC INC   2008-12-16 2012-08-16
35. TRAVELERS COS INC   2008-02-14 2012-08-16
159. TREEHOUSE FOODS INC   2007-11-20 2012-08-16
395. ULTA SALON COSMETICS & FRAGRANCE   2011-06-30 2012-08-16
73. UNION PAC CORP   2009-11-11 2012-08-16
59. UNITED STATES STEEL CORP   2009-11-11 2012-08-16
104. UNITED STATIONERS INC   2008-06-17 2012-08-16
113. VALLEY NATL BANCORP   2009-09-28 2012-08-16
467. VENTAS INC   2011-06-30 2012-08-16
495. VIACOM INC CLASS B   2011-06-30 2012-08-16
42. VORNADO RLTY TR   2009-10-20 2012-08-16
80. WASTE MGMT INC DEL COM   2009-04-23 2012-08-16
51. TYCO INTERNATIONAL LTD   2009-10-26 2012-08-16
15600. I SHARES MSCI EAFE INDEX FUND E T F   2011-03-01 2012-08-17
15600. CALL ON EFA 08/18/12 @ 80.490   2011-03-01 2012-08-22
15600. PUT ON EFA 08/18/12 @ 45.910   2011-03-01 2012-08-22
3000. ALCOA INC   2010-11-02 2012-08-29
389. ALLEGHENY TECHNOLOGIES INC   2011-06-30 2012-08-29
130. CONSOLIDATED GRAPHICS INC   2008-12-22 2012-08-29
823. DEERE & CO   2011-06-30 2012-08-29
902. FANUC CORPORATION A D R   2011-06-30 2012-08-29
101. FRANKLIN ELEC INC   2009-09-21 2012-08-29
1030. AVAGO TECHNOLOGIES   2011-06-30 2012-08-29
100000. WELLS FARGO CO 5.125% 9/01/12   2007-03-09 2012-09-01
126. INTERLINE BRANDS INC   2008-09-25 2012-09-07
4113. INTEL CORP   2009-09-09 2012-09-12
. BANK OF AMERICA CORP     2012-12-04
167. AMERIGROUP CORP   2008-08-20 2012-12-24
6000. CALL ON IWM 12/31/12 @ 100.00   2011-03-01 2012-12-31
6000. PUT ON IWM 12/31/12 @ 60.00   2011-03-01 2012-12-31
6000. PUT ON IWM 12/31/12 @ 74.00   2011-03-01 2012-12-31
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 10,895   9,180 1,715
b 23,204   17,777 5,427
c 20,555   7,764 12,791
d 44,894   18,370 26,524
e 50,129   16,762 33,367
49,144   40,078 9,066
38,065   31,258 6,807
96,868   100,000 -3,132
86,279   67,590 18,689
33,459   26,907 6,552
15,474   5,551 9,923
30,461   26,335 4,126
55,024   45,900 9,124
23,856   15,495 8,361
92     92
1,531   3,145 -1,614
3,235   2,706 529
3,288   3,302 -14
45,529   16,762 28,767
52,614   40,078 12,536
126,820   73,950 52,870
28,493   15,981 12,512
30,960   20,080 10,880
6,098   4,698 1,400
28,882   32,590 -3,708
25,466   30,777 -5,311
4   4  
100,000   103,141 -3,141
120,193   72,151 48,042
44   28 16
38,104   46,093 -7,989
4,702   3,532 1,170
721   1,216 -495
2,341   2,447 -106
2,514   3,314 -800
21,031   25,808 -4,777
29,162   58,494 -29,332
4,367   3,528 839
2,860   2,060 800
7,232   7,148 84
5,283   1,999 3,284
3,721   2,126 1,595
2,338   3,406 -1,068
2,422   1,938 484
3,106   1,194 1,912
7,359   5,842 1,517
2,908   1,980 928
3,893   2,576 1,317
2,473   2,041 432
2,567   1,557 1,010
2,896   3,437 -541
5,113   4,978 135
2,933   3,149 -216
2,807   2,421 386
3,395   2,295 1,100
2,007   1,686 321
1,990   1,555 435
760   1,768 -1,008
3,613   2,605 1,008
2,079   1,891 188
7,708   3,136 4,572
4,902   3,352 1,550
3,118   2,256 862
5,161   4,709 452
3,913   3,358 555
2,801   2,238 563
2,338   2,376 -38
10,318   6,690 3,628
8,512   5,599 2,913
3,628   3,084 544
1,953   1,839 114
2,856   6,113 -3,257
44,483   13,470 31,013
11,750   6,057 5,693
43,080   31,838 11,242
6,278   3,157 3,121
29,724   25,072 4,652
45,913   63,563 -17,650
1,472   930 542
1,072   1,259 -187
2,586   1,395 1,191
2,230   1,674 556
7,724   3,978 3,746
34,325   25,442 8,883
9,074   4,593 4,481
1,329   2,340 -1,011
2,603   2,126 477
1,088   1,222 -134
29,668   24,933 4,735
24,626   25,309 -683
3,408   2,601 807
2,838   2,160 678
2,927   1,729 1,198
859,382   1,037,874 -178,492
7,017     7,017
33,848     33,848
25,469   39,300 -13,831
11,728   24,865 -13,137
3,440   5,236 -1,796
61,074   67,716 -6,642
24,985   25,427 -442
5,525   2,979 2,546
37,559   39,434 -1,875
100,000   100,447 -447
3,213   2,096 1,117
95,584   99,921 -4,337
32     32
15,364   4,277 11,087
20,037     20,037
29,756     29,756
    57,243 -57,243
      444
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       1,715
b       5,427
c       12,791
d       26,524
e       33,367
      9,066
      6,807
      -3,132
      18,689
      6,552
      9,923
      4,126
      9,124
      8,361
      92
      -1,614
      529
      -14
      28,767
      12,536
      52,870
      12,512
      10,880
      1,400
      -3,708
      -5,311
       
      -3,141
      48,042
      16
      -7,989
      1,170
      -495
      -106
      -800
      -4,777
      -29,332
      839
      800
      84
      3,284
      1,595
      -1,068
      484
      1,912
      1,517
      928
      1,317
      432
      1,010
      -541
      135
      -216
      386
      1,100
      321
      435
      -1,008
      1,008
      188
      4,572
      1,550
      862
      452
      555
      563
      -38
      3,628
      2,913
      544
      114
      -3,257
      31,013
      5,693
      11,242
      3,121
      4,652
      -17,650
      542
      -187
      1,191
      556
      3,746
      8,883
      4,481
      -1,011
      477
      -134
      4,735
      -683
      807
      678
      1,198
      -178,492
      7,017
      33,848
      -13,831
      -13,137
      -1,796
      -6,642
      -442
      2,546
      -1,875
      -447
      1,117
      -4,337
      32
      11,087
      20,037
      29,756
      -57,243
       
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 2 186,433
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 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))
2011      
2010      
2009      
2008      
2007      
2 Total of line 1, column (d) ...................... 2  
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  
4 Enter the net value of noncharitable-use assets for 2012 from Part X, line 5..... 4  
5 Multiply line 4 by line 3....................... 5  
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6  
7 Add lines 5 and 6......................... 7  
8 Enter qualifying distributions from Part XII, line 4.............. 8  
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.
Form 990-PF (2012)
Form 990-PF (2012)
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 7,599
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 7,599
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 7,599
6 Credits/Payments:
a 2012 estimated tax payments and 2011 overpayment credited to 2012 6a 12,624
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 12,624
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 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 5,025
11 Enter the amount of line 10 to be: Credited to 2013 estimated taxBullet5,025 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 instructions)
    bulletOH
    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 2012 or the taxable year beginning in 2012 (see instructions for Part XIV)?
    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 instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    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 NA Telephone no.bullet (513) 632-3170
    Located atbulletP O BOX 1118 ML CN-OH-W10XCINCINNATIOH ZIP+4bullet452011118
    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 2012, 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 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 (2012)
    Form 990-PF (2012)
    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
     
     
    .........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 2012?.............
    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 2012, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2012?...............
    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 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 2012 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 2012.)....................
    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 2012?
    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 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 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 (2012)
    Form 990-PF (2012)
    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 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 NA TRUSTEE
    1     		135,267    
    PO BOX 1118 ML CN-OH-W10X
    CINCINNATI,OH452011118
    2 Compensation of five highest-paid employees (other than those included on line 1—see 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 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 (2012)
    Form 990-PF (2012)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see 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 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
    11,511,870
    b
    Average of monthly cash balances.......................
    1b
    412,156
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    11,924,026
    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
    11,924,026
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see
    instructions) .............................
    4
    178,860
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    11,745,166
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    587,258
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    587,258
    2a
    Tax on investment income for 2012 from Part VI, line 5......
    2a
    7,599
    b
    Income tax for 2012. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    7,599
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    579,659
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    579,659
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    579,659
    Part XII
    Qualifying Distributions (see 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
    581,521
    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
    581,521
    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 instructions).................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    581,521
    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 (2012)
    Form 990-PF (2012)
    Page 8
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2011     		(c)
    2011     		(d)
    2012
    1 Distributable amount for 2012 from Part XI, line 7 579,659
    2 Undistributed income, if any, as of the end of 2012:
    a Enter amount for 2011 only....... 516,706
    b Total for prior years:2010, 20, 20 0
    3 Excess distributions carryover, if any, to 2012:
    a From 2007....... 0
    b From 2008....... 0
    c From 2009....... 0
    d From 2010....... 0
    e From 2011....... 0
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2012 from Part
    XII, line 4: bullet$ 581,521
    a Applied to 2011, but not more than line 2a 516,706
    b Applied to undistributed income of prior years
    (Election required—see instructions)......     		0
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2012 distributable amount..... 64,815
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2012. 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 0
    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 instructions ...........     		0
    e Undistributed income for 2011. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2012. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2013 ..........     		514,844
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see
    instructions) .............     		0
    8Excess distributions carryover from 2007 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2013.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2008.... 0
    b Excess from 2009.... 0
    c Excess from 2010.... 0
    d Excess from 2011.... 0
    e Excess from 2012.... 0
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 9
    Part XIV
    Private Operating Foundations (see 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 2012, 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) 2012 (b) 2011 (c) 2010 (d) 2009
             
    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 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:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2012)
    Form 990-PF (2012)
    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
    UNIVERSITY OF CINCINNATI FOUNDATION
    ATTN MR WILLIAM E HENRICH
    CINCINNATI,OH452190970     		NONE PUBLIC TAX-EXEMPT PURPOSE 113,259
    BEREA COLLEGE
    ATTN MR JEFF AMBURGEY VP
    BEREA,KY404031516     		NONE PUBLIC TAX-EXEMPT PURPOSE 141,573
    OHIO PRESBYTERIAN RETIREMENT SVCS
    GIFT AND DATA MANAGEMENT DEPARTMENT
    COLUMBUS,OH43224     		NONE CHARITABLE TAX-EXEMPT PURPOSE 113,259
    AMERICAN CANCER SOCIETY
    PO BOX 720366
    OKLAHOMA CITY,OK73162     		NONE CHARITABLE TAX-EXEMPT PURPOSE 198,203
    Total .................................bullet 3a 566,294
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2012)
    Form 990-PF (2012)
    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 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....     14 318,415  
    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     18 186,433  
    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)..   504,848  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13504,848
    (See worksheet in line 13 instructions 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 foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2012)
    Form 990-PF (2012)
    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
    Sign Here
    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
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2012)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2012 AccountingFeesSchedule
    Name:
    ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
    EIN: 31-6664505
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 1,500     1,500

    TY 2012 InvestmentsCorpBondsSchedule
    Name:
    ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
    EIN: 31-6664505
    Name of Bond End of Year Book Value End of Year Fair Market Value
    GEN ELEC CAP 6.000 6/15/12    
    WELLS FARGO 5.125 9/01/12    
    MORGAN STANLEY 5.300 3/01/13 99,590 100,546
    GOLDMAN SACHS 5.250 10/15/13 100,000 103,501
    METLIFE INC 6.500 6/15/14 100,620 107,213
    JP MORGAN CHASE 5.125 9/15/14 99,807 106,354
    HSBC FIN CORP 5.250 4/15/15 98,676 108,429
    WALMART STORES 4.250 4/15/13 100,442 101,117
    BARCLAYS BANK PLC 552,908 474,250

    TY 2012 InvestmentsCorpStockSchedule
    Name:
    ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
    EIN: 31-6664505
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABS 62,372 66,155
    AIR PRODUCTS CHEM INC    
    ALLSTATE CORP 32,892 48,204
    AMERICAN CAMPUS CMNTYS INC 3,257 5,536
    AMERICAN EXPRESS CO 62,872 87,255
    AMERIGROUP CORP    
    APACHE CORP    
    ATT INC 28,702 33,710
    AVISTA CORP 3,152 3,568
    BANK OF AMERICA CORP 5,134 5,085
    BANK OF THE OZARKS INC 2,438 8,368
    BEST BUY CO INC    
    BIOMED REALTY TRUST INC    
    BOSTON PPTYS INC    
    CATEPILLAR INC    
    CATO CORP 4,854 6,665
    CHEMED CORP 3,909 7,271
    CHEVRON CORP 101,326 237,908
    CLECO CORP 5,208 8,162
    CONOCOPHILLIPS 45,324 127,578
    CONSOLIDATED GRAPHICS INC    
    COOPER TIRE & RUBR CI 1,784 4,692
    COSTCO WHSL CORP 54,816 98,730
    DELTIC TIMBER CORP    
    DIODES INC    
    DUKE ENERGY CORP 27,354 42,491
    ECOLAB INC 49,142 140,061
    EMERSON ELEC CO 38,484 84,736
    EMULEX CORP    
    ENPRO INDUSTRIES INC    
    EXXON MOBIL CORP 91,794 182,967
    FAIRCHILD SEMICON INTL    
    GENERAL DYNAMICS CORP    
    GENERAL ELECTRIC CO 48,473 86,878
    GENERAL MILLS INC 53,664 97,008
    GOLDMAN SACHS GRP INC 50,442 63,780
    HONEYWELL INTL INC 66,374 88,858
    INTEL CORP    
    INTERLINE BRANDS INC    
    INTL BUS MACH CORP 81,532 229,860
    J P MORGAN CHASE & CO 34,807 43,969
    JACK IN THE BOX INC 4,399 5,405
    JOHNSON & JOHNSON 177,404 205,884
    KADANT INC 3,298 2,996
    KENNAMETAL INC 29,455 29,360
    KINDRED HEALTHCARE INC    
    MCDONALDS CORP 50,287 132,315
    MENTOR GRAPHICS CORP    
    MERCK & CO INC    
    MEREDITH CORP 5,544 6,098
    METLIFE INC    
    MICROSOFT CORP 113,439 106,839
    MID-AMER APT CMNTYS INC    
    NIKE INC 80,155 103,200
    NORTHWESTERN CORP 4,440 5,522
    OCCIDENTAL PETE CORP    
    OLD DOMINION FGHT LINE INC 3,217 8,947
    P N C FINANCIAL SVCS GR INC    
    PARAMETRIC TECH CORP 3,869 4,502
    PEPSICO INC    
    PFIZER INC 348,837 326,031
    PLEXUS CORP 4,809 6,476
    PRAXAIR INC 106,276 328,350
    PROCTER & GAMBLE CO    
    PROGRESS SOFTWARE CORP 6,875 7,011
    SEMPRA ENERGY 54,650 141,880
    SIGNATURE BK    
    TENNANT CO    
    TEXAS INDS INC    
    THERMO FISHER SCIENTIFIC INC    
    TORO CO 2,913 7,822
    TRAVELERS COS INC    
    TREEHOUSE FOODS INC    
    UNITED HEALTH GRP INC 69,298 87,598
    UNITED STATIONERS INC    
    VALLEY NATL BANCORP    
    VERIZON COMM INC 62,980 87,405
    WAL MART STORES INC    
    WASTE MGMT INC    
    WELLS FARGO CO 62,697 90,269
    3M CO 20,275 30,733
    ACCENTURE LTD 111,586 166,250
    NESTLE S A 5,620 8,993
    SCHLUMBERGER LTD 36,683 103,948
    ANIXTER INTL INC 3,667 5,054
    AVALONBAY COMNTYS INC    
    HESS CORP    
    LINCOLN NATL CORP IND    
    MATTHEWS INTL CORP    
    PRUDENTIAL FINL INC 165,801 142,071
    VORNADO RLTY TR    
    AMERICAN ELECTRIC POWER 4,126 6,573
    BARNES GROUP 3,103 4,627
    BRISTOL MYERS SQUIBB 81,240 97,770
    BRISTOW GROUP    
    FIFTH THIRD BANK 2,809 4,119
    FLOWERS FOODS INC 3,647 5,445
    FRANKLIN ELEC INC    
    HOME PROPERTIES INC    
    J2 GLOBAL COMM    
    MASTERCARD INC    
    MATTEL INC 62,948 183,100
    NORTHERN TR CO    
    ORACLE CORP 59,215 61,242
    PACCAR INC    
    SILGAN HLDGS 3,903 6,065
    SNAP ON INC    
    TARGET CORP 25,324 29,585
    UNION PACIFIC    
    UNITED STATES STEEL    
    UNITED TECHNOLOGIES 102,811 222,329
    CARNIVAL CORP    
    COVIDIEN PLC 30,741 34,702
    TYCO INTL    
    ERICSSON    
    ALCOA INC    
    BOEING CO    
    BUCKEYE TECHNOLOGIES INC 2,423 6,833
    C M S ENERGY CORP    
    CORPORATE EXECUTIVE BRD CO    
    CVS CAREMARK CORP 4,068 6,237
    DISNEY WALT CO 85,838 127,313
    DUPONT FABROS TECHNOLOGY    
    HEIDRICK & STRUGGLES INTL INC 4,070 2,472
    KEYCORP NEW    
    KIMBERLY CLARK CORP    
    KRAFT FOODS INC CL A    
    NORFOLK SOUTHERN CORP 156,292 154,600
    PARKER HANNIFIN CORP 27,835 27,304
    PEABODY ENERGY CORP    
    PHILIP MORRIS INTL 139,806 209,100
    PS BUSINESS PKS INC    
    TJX COMPANIES INC 3,060 8,575
    VALUE CLICK INC 3,193 5,144
    NATIONAL GRID PLC    
    ROGERS COMMUNICATIONS    
    AETNA INC 52,719 55,248
    AGILENT TECHNOLOGIES INC 48,213 38,402
    ALEXANDRIA REAL ESTATE EQUITIE 29,498 26,203
    ALLEGHENY TECHNOLOGIES    
    AMERICAN EQUITY INVT LIFE 5,410 6,252
    AMERIPRISE FINL INC 38,149 41,211
    ANALOG DEVICES INC 42,869 46,056
    APPLE INC 156,196 212,869
    ARROW ELECTRS INC    
    AUTOZONE INC 35,982 43,240
    B E AEROSPACE INC 25,322 30,579
    BLACKROCK INC 59,121 63,667
    CARDINAL HEALTH INC 106,601 97,061
    CBL ASSOCIATES PROPERTIES 43,818 50,565
    CBS CORP CLASS B NON VOTING 31,157 41,208
    CELENESE CORP SER 42,421 35,357
    COCA COLA ENTERPRISES INC 83,964 91,160
    DEAN FOODS COMPANY 37,594 50,339
    DECKERS OUTDOOR CORP 25,272 11,517
    DEERE & CO.    
    DIGITAL REALTY TRUST INC 27,529 30,143
    DOUGLAS EMMITT INC 25,081 29,475
    E M C CORP 33,493 30,613
    EASTMAN CHEM CO 25,353 33,753
    HCP INC 24,966 30,573
    HITTITE MICROWAVE CORP    
    MACYS INC 62,593 83,542
    MASTEC INC 25,694 32,484
    METROPCS COMMUNICATIONS    
    MOODYS CORP 62,196 81,669
    OMNI VISION TECHNOLOGIES 25,815 10,391
    QUALCOMM INC 119,414 123,719
    ROSS STORES INC 80,319 108,180
    SCRIPPS NETWORKS INTERACTIVE 24,730 29,539
    SIMON PROPERTY GROUP INC    
    SKYWORKS SOLUTIONS INC 45,031 39,626
    SI GREEN RITY CORP 47,713 43,844
    SONIC AUTOMOTIVE INC CLASS A    
    TERADATA CORP DEL 104,287 107,379
    TEXAS ROADHOUSE INC 37,364 35,582
    TIMKEN CO 25,669 24,298
    TRIQUINT SEMICONDUCTOR INC 25,659 12,056
    TRW AUTOMOTIVE HLDGS CORP    
    ULTA SALON COSMETICS & FRAG    
    UNITED NAT FOODS INC 25,128 31,457
    VEECO INSTRS INC DEL 26,019 15,689
    VENTAS INC    
    VIACOM INC CLASS B    
    VOLTERRA SEMICONDUCTOR CORP 25,557 17,754
    WEINGARTEN RLTY INVTS 25,203 26,502
    WESTERN UNION CO 25,321 17,094
    WYNDHAM WORLDWIDE CORP 95,781 150,850
    AVAGO TECHNOLOGIES    
    B H P BILLITON LTD    
    BUNGE LTD    
    FANUC CORP    
    HERBALIFE LTD    
    I C I C I BANK LTD 25,288 22,241
    COCA COLA CO 113,267 108,750
    HASBRO INC 96,474 89,750

    TY 2012 InvestmentsOtherSchedule2
    Name:
    ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
    EIN: 31-6664505
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SPDR GOLD TRUST AT COST 169,880 162,020
    I SHARES MSCI EAFE INDEX FUND AT COST 338,475 341,160
    I SHARES DOW JONES REGIONAL AT COST 5,026 5,863
    I SHARES S & P PREF STK INDEX AT COST 186,150 198,100
    LAUDUS INTL MARKETMASTERS AT COST 1 1
    POWERSHARES QQQ NASDAQ 100      
    T ROWE PRICE MID CAP GROWTH AT COST 50,000 48,737
    TECHNOLOGY SELECT SECTOR S P D AT COST 76,847 144,250
    ISHARES RUSSELL 2000 INDEX AT COST 486,243 505,907
    NUVEEN INTERNATIONAL FUND      
    NUVEEN REAL ESTATE SECURIT AT COST 130,000 135,875
    SPDR S&P 500 ETF TRUST AT COST 474,121 526,917

    TY 2012 OtherAssetsSchedule
    Name:
    ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
    EIN: 31-6664505
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    CALL ON EFA 8/18/12@80.490 -7,017 0 0
    CALL ON IWM 12/31/12 @ 100.00 -20,037 0 0
    PUT ON EFA 8/18/12 @ 45.910 -33,848 0 0
    PUT ON EFA 8/18/12 @ 55.090 82,371 0 0
    PUT ON IWM 12/31/12 @ 60.00 -29,756 0 0
    PUT ON IWM 12/31/12 @ 74.00 57,243 0 0
    CALL ON SPY 2/25/13@154.660   23,409 22,842
    CALL ON SPY 7/3/13@152.000   -10,024 -7,354
    PUT ON SPY 2/25/13@124.550   -47,795 -8,146
    PUT ON SPY 2/25/13@210.000   1,013,934 1,013,367
    PUT ON SPY 7/3/13@117.500   -92,011 -14,940
    PUT ON SPY 7/3/13@128.100   116,849 59,636


    TY 2012 OtherDecreasesSchedule
    Name:
    ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
    EIN: 31-6664505
    Description Amount
    2012 RETURN OF CAPITAL ADJUSTMENT 1,017
    ROUNDING ADJUSTMENT 4
    ADJUSTMENT 37


    TY 2012 OtherExpensesSchedule
    Name:
    ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
    EIN: 31-6664505
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER NON-ALLOCABLE EXPENSE - 200 0   200
    OTHER NONALLOCABLE EXPENSES - 24 24   0


    TY 2012 OtherIncreasesSchedule
    Name:
    ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
    EIN: 31-6664505
    Description Amount
    2011 RETURN OF CAPITAL ADJUSTMENT 345


    TY 2012 OtherLiabilitiesSchedule
    Name:
    ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
    EIN: 31-6664505
    Description Beginning of Year - Book Value End of Year - Book Value
    BOSTON PPTYS INC - DEFERRED   15
    CBL ASSOC PROP - DEFERRED   108
    DIGITAL REALTY TR - DEFERRED   302
    DUPONT FABROS TECH - DEFERRED   12


    TY 2012 TaxesSchedule
    Name:
    ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
    EIN: 31-6664505
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 89 89   0
    FEDERAL TAX PAYMENT - PRIOR YE 6,623 0   0
    FEDERAL ESTIMATES - PRINCIPAL 12,624 0   0
    FOREIGN TAXES ON QUALIFIED FOR 1,999 1,999   0
    FOREIGN TAXES ON NONQUALIFIED 14 14   0