Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter Social Security numbers on this form as it may be made public. By law, the IRS cannot redact the information on the form.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2013
Open to Public Inspection
For calendar year 2013, or tax year beginning 01-01-2013 , and ending 12-31-2013
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 or province, country, and ZIP or foreign postal 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
E 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$13,525,882J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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...... 296,083 287,316 8,766
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 214,080
b Gross sales price for all assets on line 6a 3,407,128
7 Capital gain net income (from Part IV, line 2)... 214,080
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........ 510,163 501,396 8,766
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 139,557 125,602   13,956
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 3,508 933   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 20,417 20,217   200
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 164,982 146,752 0 15,656
25 Contributions, gifts, grants paid........ 520,736 520,736
26 Total expenses and disbursements. Add lines 24 and 25 685,718 146,752 0 536,392
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -175,555
b Net investment income (if negative, enter -0-) 354,644
c Adjusted net income (if negative, enter -0-)... 8,766
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2013)
Form 990-PF (2013)
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 5,342 5,342
2 Savings and temporary cash investments.......... 56,239 400,319 400,319
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     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 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)........ 5,450,282 Click to see attachment4,103,542 7,734,011
c Investments—corporate bonds (attach schedule)........ 1,152,043 Click to see attachment1,058,921 979,217
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 1,916,743 Click to see attachment3,789,521 4,468,815
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment1,004,362 Click to see attachment43,211 Click to see attachment-61,822
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 9,586,789 9,400,856 13,525,882
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 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......... 9,586,352 9,400,856
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).................... 9,586,352 9,400,856
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 9,586,789 9,400,856
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 9,586,352
2 Enter amount from Part I, line 27a..................... 2 -175,555
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 9,410,797
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 9,941
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 9,400,856
Form 990-PF (2013)
Form 990-PF (2013)
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 . CREDIT SUISSE GROUP A D R     2013-01-07
b . DELL INC     2013-01-09
c 79. ANIXTER INTL INC   2008-12-22 2013-02-20
d 122. AUTOZONE INC   2011-06-30 2013-02-20
e 129. CVS CORP COM   2010-09-27 2013-02-20
243. CATO CORP CL A   2008-10-29 2013-02-20
185. COOPER TIRE & RUBR CO   2008-07-02 2013-02-20
286. DECKERS OUTDOOR CORP   2011-06-30 2013-02-20
177. MEREDITH CORP   2008-09-22 2013-02-20
1000. SPDR GOLD SHARES ETF   2012-10-17 2013-02-20
14100. CALL ON SPY 02/25/13 @ 154.660   2012-08-23 2013-02-25
14100. PUT ON SPY 02/25/13 @ 210.000   2012-08-23 2013-02-25
14100. PUT ON SPY 02/25/13 @ 124.550   2012-08-23 2013-02-28
100000. MORGAN STANLEY 5.300% 3/01/13   2003-08-12 2013-03-01
937. JOHNSON & JOHNSON   2010-04-22 2013-04-01
3000. PFIZER INC   2004-03-16 2013-04-01
378. ALEXANDRIA REAL ESTATE EQUITIES INC   2011-06-30 2013-04-15
120. AMERICAN CAMPUS CMNTYS INC   2007-06-06 2013-04-15
106. CHEMED CORP   2008-06-17 2013-04-15
1049. DEAN FOODS COMPANY   2011-06-30 2013-04-15
1210. E M C CORP MASS   2011-06-30 2013-04-15
100. EMERSON ELEC CO   2003-03-26 2013-04-15
114. EXXON MOBIL CORP   2000-12-06 2013-04-15
639. GENERAL ELEC CO   2009-08-11 2013-04-15
200. INTERNATIONAL BUSINESS MACHS CORP   2002-08-01 2013-04-15
189. JACK IN THE BOX INC   2009-09-25 2013-04-15
113. KADANT INC   2007-06-06 2013-04-15
734. KENNAMETAL INC   2011-06-30 2013-04-15
4000. MICROSOFT CORP   2012-02-03 2013-04-15
2500. PFIZER INC   2010-09-14 2013-04-15
510. SCRIPPS NETWORKS INTERACTIVE INC   2011-06-30 2013-04-15
1735. TERADATA CORP DEL   2011-06-30 2013-04-15
2118. TEXAS ROADHOUSE INC   2011-06-30 2013-04-15
182. TORO CO   2008-11-10 2013-04-15
587. UNITED NAT FOODS INC   2011-06-30 2013-04-15
100000. WAL MART STORES 4.250% 4/15/13   2008-04-29 2013-04-15
601. COVIDIEN PLC   2011-06-30 2013-04-15
.889 WHITEWAVE FOODS CO A   2011-06-30 2013-06-21
.6037 WHITEWAVE FOODS COMPANY   2011-06-30 2013-06-21
1838. ORACLE CORPORATION   2011-06-30 2013-06-25
1162. ORACLE CORPORATION   2013-02-20 2013-06-25
300. SPDR S&P 500 ETF TRUST   2012-01-05 2013-07-03
3700. CALL ON SPY 07/03/13 @ 152.000   2012-01-05 2013-07-03
.5278 ZOETIS INC   2012-05-17 2013-07-12
7400. PUT ON SPY 07/03/13 @ 128.100   2012-01-05 2013-07-24
8100. PUT ON SPY 07/03/13 @ 117.500   2012-01-05 2013-07-24
238. BUCKEYE TECHNOLOGIES INC   2010-01-22 2013-08-23
1034. VOLTERRA SEMICONDUCTOR CORP   2011-06-30 2013-10-01
200. CHEVRONTEXACO CORP   2010-10-07 2013-10-07
200. CONOCOPHILLIPS   2000-12-06 2013-10-07
557. DISNEY WALT CO   2010-10-04 2013-10-07
500. EXXON MOBIL CORP   2000-12-06 2013-10-07
271. FIFTH THIRD BANCORP   2010-09-27 2013-10-07
100. GOLDMAN SACHS GROUP INC   2012-05-17 2013-10-07
500. HASBRO INC   2012-09-12 2013-10-07
223. MOODYS CORP   2011-06-30 2013-10-07
500. NIKE INC CL B COM   2010-10-04 2013-10-07
689. PFIZER INC   2012-05-17 2013-10-07
1000. TECHNOLOGY SELECT SECTOR S P D R   2009-02-10 2013-10-07
202. T J X COS INC NEW   2010-10-28 2013-10-07
1792. ZOETIS INC   2012-05-17 2013-10-07
500. ACCENTURE PLC CL A   2012-07-31 2013-10-07
200. APPLE COMPUTER INC COM   2012-07-31 2013-10-11
444. DIGITAL REALTY TRUST INC   2011-06-30 2013-10-11
500. DISNEY WALT CO   2010-10-04 2013-10-11
1265. DOUGLAS EMMITT INC   2011-06-30 2013-10-11
500. HASBRO INC   2012-09-12 2013-10-11
2500. MATTEL INC   2009-02-10 2013-10-11
500. NORFOLK SOUTHN CORP   2010-11-08 2013-10-11
500. PHILIP MORRIS INTL   2010-10-12 2013-10-11
1000. TECHNOLOGY SELECT SECTOR S P D R   2009-02-10 2013-10-11
265. VALUE CLICK INC   2010-06-24 2013-10-11
1256. WESTERN UNION CO   2011-06-30 2013-10-11
500. ACCENTURE PLC CL A   2010-11-02 2013-10-11
100000. GOLDMAN SACHS 5.250% 10/15/13   2008-07-09 2013-10-15
. MOTOROLA INC     2013-12-24
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 137     137
b 55     55
c 5,581   3,667 1,914
d 46,093   35,982 10,111
e 6,747   4,068 2,679
6,314   4,854 1,460
4,864   1,784 3,080
12,372   25,272 -12,900
7,896   5,544 2,352
152,981   169,880 -16,899
    23,409 -23,409
839,774   1,013,934 -174,160
47,795     47,795
100,000   99,590 410
76,667   62,433 14,234
86,049   112,976 -26,927
27,206   29,412 -2,206
5,414   3,062 2,352
8,184   3,909 4,275
19,202   12,934 6,268
28,122   33,493 -5,371
5,490   2,405 3,085
9,982   4,950 5,032
14,793   7,768 7,025
42,223   13,922 28,301
6,730   4,399 2,331
2,888   3,298 -410
27,084   29,455 -2,371
115,179   113,439 1,740
77,122   65,346 11,776
34,604   24,730 9,874
95,063   104,287 -9,224
42,941   37,364 5,577
8,426   2,913 5,513
29,855   25,128 4,727
100,000   100,442 -442
40,669   30,741 9,928
14   10 4
10   6 4
54,937   59,215 -4,278
34,732   41,321 -6,589
48,245   38,442 9,803
10,024   32,971 -22,947
16   12 4
    116,849 -116,849
92,011     92,011
8,925   2,423 6,502
23,782   25,557 -1,775
23,606   16,692 6,914
14,120   4,260 9,860
36,283   18,704 17,579
42,899   21,711 21,188
4,859   2,809 2,050
15,530   10,794 4,736
23,375   19,295 4,080
15,851   8,546 7,305
35,895   20,039 15,856
19,795   15,694 4,101
32,159   15,369 16,790
11,290   3,060 8,230
57,881   41,238 16,643
36,624   30,170 6,454
98,226   89,069 9,157
24,473   27,427 -2,954
33,166   16,790 16,376
30,675   23,921 6,754
23,340   19,295 4,045
104,237   28,774 75,463
39,487   31,258 8,229
42,496   28,500 13,996
32,359   15,369 16,990
5,091   3,193 1,898
23,185   25,321 -2,136
36,259   22,154 14,105
100,000   100,000  
338     338
      36,431
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       137
b       55
c       1,914
d       10,111
e       2,679
      1,460
      3,080
      -12,900
      2,352
      -16,899
      -23,409
      -174,160
      47,795
      410
      14,234
      -26,927
      -2,206
      2,352
      4,275
      6,268
      -5,371
      3,085
      5,032
      7,025
      28,301
      2,331
      -410
      -2,371
      1,740
      11,776
      9,874
      -9,224
      5,577
      5,513
      4,727
      -442
      9,928
      4
      4
      -4,278
      -6,589
      9,803
      -22,947
      4
      -116,849
      92,011
      6,502
      -1,775
      6,914
      9,860
      17,579
      21,188
      2,050
      4,736
      4,080
      7,305
      15,856
      4,101
      16,790
      8,230
      16,643
      6,454
      9,157
      -2,954
      16,376
      6,754
      4,045
      75,463
      8,229
      13,996
      16,990
      1,898
      -2,136
      14,105
       
      338
       
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 2 214,080
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))
2012      
2011      
2010      
2009      
2008      
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 2013 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 (2013)
Form 990-PF (2013)
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 7,093
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 7,093
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 7,093
6 Credits/Payments:
a 2013 estimated tax payments and 2012 overpayment credited to 2013 6a 7,600
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 7,600
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 10 507
11 Enter the amount of line 10 to be: Credited to 2014 estimated taxBullet507 RefundedBullet 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 2013 or the taxable year beginning in 2013 (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 2013, did the foundation have an interest in or a signature or other authority over YesNo
    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 (2013)
    Form 990-PF (2013)
    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 2013?.............
    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 2013, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2013?...............
    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 2013 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 2013.)....................
    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 2013?
    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 (2013)
    Form 990-PF (2013)
    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     		139,557    
    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 (2013)
    Form 990-PF (2013)
    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
     
    b
    Average of monthly cash balances.......................
    1b
     
    c
    Fair market value of all other assets (see instructions)................
    1c
     
    d
    Total (add lines 1a, b, and c).........................
    1d
     
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
     
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
     
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
     
    6
    Minimum investment return. Enter 5% of line 5..................
    6
     
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    638,063
    2a
    Tax on investment income for 2013 from Part VI, line 5......
    2a
    7,093
    b
    Income tax for 2013. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    7,093
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    630,970
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    630,970
    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
    630,970
    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
     
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
     
    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
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
     
    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 (2013)
    Form 990-PF (2013)
    Page 8
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2012     		(c)
    2012     		(d)
    2013
    1 Distributable amount for 2013 from Part XI, line 7 630,970
    2 Undistributed income, if any, as of the end of 2013:
    a Enter amount for 2012 only....... 514,844
    b Total for prior years:2011, 20, 20 0
    3 Excess distributions carryover, if any, to 2013:
    a From 2008....... 0
    b From 2009....... 0
    c From 2010....... 0
    d From 2011....... 0
    e From 2012....... 0
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2013 from Part
    XII, line 4: bullet$ 536,392
    a Applied to 2012, but not more than line 2a 514,844
    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 2013 distributable amount..... 21,548
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2013. 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 2012. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2013. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2014 ..........     		609,422
    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 2008 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2014.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2009.... 0
    b Excess from 2010.... 0
    c Excess from 2011.... 0
    d Excess from 2012.... 0
    e Excess from 2013.... 0
    Form 990-PF (2013)
    Form 990-PF (2013)
    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 2013, 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) 2013 (b) 2012 (c) 2011 (d) 2010
             
    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 (2013)
    Form 990-PF (2013)
    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 104,147
    BEREA COLLEGE
    ATTN MR JEFF AMBURGEY VP
    BEREA,KY404031516     		NONE PUBLIC TAX-EXEMPT PURPOSE 130,184
    OHIO PRESBYTERIAN RETIREMENT SVCS
    GIFT AND DATA MANAGEMENT DEPARTMENT
    COLUMBUS,OH43224     		NONE CHARITABLE TAX-EXEMPT PURPOSE 104,147
    AMERICAN CANCER SOCIETY
    PO BOX 720366
    OKLAHOMA CITY,OK73162     		NONE CHARITABLE TAX-EXEMPT PURPOSE 182,258
    Total .................................bullet 3a 520,736
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2013)
    Form 990-PF (2013)
    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....          
    3
    Interest on savings and temporary cash investments ............     		         
    4 Dividends and interest from securities....     14 296,083  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 214,080  
    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)..   510,163  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13510,163
    (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 (2013)
    Form 990-PF (2013)
    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 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    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 (2013)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2013 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 2013 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
    MORGAN STANLEY 5.300 3/01/13    
    GOLDMAN SACHS 5.250 10/15/13    
    METLIFE INC 6.500 6/15/14 100,620 102,220
    JP MORGAN CHASE 5.125 9/15/14 99,807 103,027
    HSBC FIN CORP 5.250 4/15/15 98,676 105,320
    WALMART STORES 4.250 4/15/13    
    BARCLAYS TREAS 4/10/15 573,668 484,500
    ISHARES S P U S PREF STOCK 186,150 184,150

    TY 2013 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 29,923 38,713
    ALLSTATE CORP 32,892 65,448
    AMERICAN CAMPUS CMNTYS INC    
    AMERICAN EXPRESS CO 62,872 137,728
    ATT INC 28,702 35,160
    AVISTA CORP 3,152 4,172
    BANK OF AMERICA CORP 5,134 6,820
    BANK OF THE OZARKS INC 2,438 14,148
    CATO CORP    
    CHEMED CORP    
    CHEVRON CORP 84,634 249,820
    CLECO CORP 5,208 9,510
    CONOCOPHILIPS 41,065 141,300
    COOPER TIRE & RUBR CI    
    COSTCO WHSL CORP 54,816 119,020
    DUKE ENERGY CORP 27,354 45,961
    ECOLAB INC 49,142 203,118
    EMERSON ELEC CO 36,079 105,270
    EXXON MOBIL CORP 65,133 151,800
    GENERAL ELECTRIC CO 40,705 98,105
    GENERAL MILLS INC 53,664 119,784
    GOLDMAN SACHS GRP INC 39,648 70,904
    HONEYWELL INTL INC 66,374 127,918
    INTL BUS MACH CORP 67,610 187,570
    J P MORGAN CHASE & CO 34,807 58,480
    JACK IN THE BOX INC    
    JOHNSON & JOHNSON 114,971 183,180
    KADANT INC    
    KENNAMETAL INC    
    MCDONALDS CORP 50,287 145,545
    MEREDITH CORP    
    MICROSOFT CORP    
    NIKE INC 60,116 117,960
    NORTHWESTERN CORP 4,440 6,888
    OLD DOMINION FGHT LINE INC 3,217 13,838
    PARAMETRIC TECH CORP    
    PFIZER INC 113,572 153,150
    PLEXUS CORP 4,809 10,866
    PRAXAIR INC 106,276 390,090
    PTC INC 3,869 7,078
    PROGRESS SOFTWARE CORP 6,875 8,627
    SEMPRA ENERGY 54,650 179,520
    TORO CO    
    UNITED HEALTH GRP INC 69,298 121,610
    VERIZON COMM INC 62,980 99,263
    WELLS FARGO CO 62,697 119,901
    3M CO 20,275 46,423
    ACCENTURE LTD 59,262 123,330
    NESTLE S A 5,620 10,155
    SCHLUMBERGER LTD 36,683 135,165
    ANIXTER INTL INC    
    PRUDENTIAL FINL INC 165,801 245,674
    AMERICAN ELECTRIC POWER 4,126 7,198
    BARNES GROUP 3,009 7,892
    BRISTOL MYERS SQUIBB 81,240 159,450
    FIFTH THIRD BANK    
    FLOWERS FOODS INC 3,647 7,536
    MATTEL INC 27,874 118,950
    ORACLE CORP    
    SILGAN HLDGS 3,903 7,011
    TARGET CORP 25,324 31,635
    UNITED TECHNOLOGIES 102,811 308,512
    COVIDIEN PLC    
    BUCKEYE TECHNOLOGIES INC    
    CVS CAREMARK CORP    
    DISNEY WALT CO 50,344 114,600
    HEIDRICK & STRUGGLES INTL INC 4,070 3,263
    NORFOLK SOUTHERN CORP 125,034 185,660
    PARKER HANNIFIN CORP 27,835 41,293
    PHILIP MORRIS INTL 111,306 174,260
    TJX COMPANIES INC    
    VALUE CLICK INC    
    AETNA INC 52,719 81,828
    AGILENT TECHNOLOGIES INC 48,213 53,644
    ALEXANDRIA REAL ESTATE EQUITIE    
    AMERICAN EQUITY INVT LIFE 5,410 13,507
    AMERIPRISE FINL INC 38,149 75,703
    ANALOG DEVICES INC 42,869 55,768
    APPLE INC 67,126 112,204
    AUTOZONE INC    
    B E AEROSPACE INC 25,322 53,872
    BLACKROCK INC 59,121 97,473
    CARDINAL HEALTH INC 106,601 157,471
    CBL ASSOCIATES PROPERTIES 43,818 42,817
    CBS CORP CLASS B NON VOTING 31,157 69,030
    CELENESE CORP SER 42,421 43,916
    COCA COLA ENTERPRISES INC 83,964 126,785
    DEAN FOODS COMPANY 11,677 17,190
    DECKERS OUTDOOR CORP    
    DIGITAL REALTY TRUST INC    
    DOUGLAS EMMITT INC    
    E M C CORP    
    EASTMAN CHEM CO 25,353 40,027
    HCP INC 24,289 24,589
    MACYS INC 62,593 114,329
    MASTEC INC 25,694 42,634
    MOODYS CORP 53,651 109,858
    OMNI VISION TECHNOLOGIES 25,815 12,694
    QUALCOMM INC 119,414 148,500
    ROSS STORES INC 80,319 149,860
    SCRIPPS NETWORKS INTERACTIVE    
    SKYWORKS SOLUTIONS INC 45,031 55,749
    SI GREEN RITY CORP 47,713 52,841
    TERADATA CORP DEL    
    TEXAS ROADHOUSE INC    
    TIMKEN CO 25,669 27,976
    TRIQUINT SEMICONDUCTOR INC 25,659 20,817
    UNITED NAT FOODS INC    
    VEECO INSTRS INC DEL 26,019 17,508
    VOLTERRA SEMICONDUCTOR CORP    
    WEINGARTEN RLTY INVTS 25,203 27,146
    WESTERN UNION CO    
    WYNDHAM WORLDWIDE CORP 95,781 208,911
    I C I C I BANK LTD 25,288 18,957
    COCA COLA CO 113,267 123,930
    HASBRO INC 57,884 82,515
    ABBVIE INC 32,449 53,338
    ALTRIA GROUP INC 87,344 95,975
    WHITEWAVE FOODS CO 12,967 28,377

    TY 2013 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      
    I SHARES MSCI EAFE INDEX FUND AT COST 338,475 402,570
    I SHARES DOW JONES REGIONAL AT COST 5,026 7,934
    I SHARES S & P PREF STK INDEX      
    LAUDUS INTL MARKETMASTERS AT COST 1 1
    T ROWE PRICE MID CAP GROWTH AT COST 50,000 62,814
    TECHNOLOGY SELECT SECTOR S P D AT COST 46,108 107,220
    ISHARES RUSSELL 2000 INDEX AT COST 486,243 692,160
    NUVEEN REAL ESTATE SECURIT AT COST 678,345 631,334
    SPDR S&P 500 ETF TRUST AT COST 1,910,323 2,271,687
    AQR MANAGED FUTURES STR I AT COST 275,000 293,095

    TY 2013 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 SPY 2/25/13 @ 154.660 23,409 0 0
    CALL ON SPY 7/3/13 @ 152.000 -10,024 0 0
    PUT ON SPY 2/25/13 @ 124.550 -47,795 0 0
    PUT ON SPY 2/25/13 @ 210.000 1,013,934 0 0
    PUT ON SPY 7/3/13 @ 117.500 -92,011 0 0
    PUT ON SPY 7/3/13 @ 128.100 116,849 0 0
    CALL ON SPY 5/17/14 @ 165.65   -76,265 -170,522
    CALL ON SPY 5/17/14 @167.72   68,714 154,383
    CALL ON SPY 5/17/14 @ 188.84   -12,364 -26,253
    CALL ON SPY 7/7/14 @ 179.37   -8,020 -30,579
    PUT ON SPY 5/17/14 @ 132.52   -22,866 -1,056
    PUT ON SPY 5/1714 @ 157.37   73,876 8,578
    PUT ON SPY 7/7/14 @ 128.70   -11,726 -1,091
    PUT ON SPY 7/7/14 @ 152.83   31,862 4,718


    TY 2013 OtherDecreasesSchedule
    Name:
    ELSE SCHULZE PERPETUAL CHARITABLE TR 04-7684
    EIN: 31-6664505
    Description Amount
    2013 RETURN OF CAPITAL ADJUSTMENTS 8,766
    DEFERRED INCOME ADJUSTMENT 437
    ROUNDING 1
    PRIOR YEAR RETURN OF CAPITAL ADJUSTMENTS 737


    TY 2013 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 ALLOCABLE EXPENSE-INCOME 20,214 20,214   0
    OTHER NON-ALLOCABLE EXPENSE - 200 0   200
    OTHER NONALLOCABLE EXPENSES - 3 3   0


    TY 2013 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 2013 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 45 45   0
    FEDERAL ESTIMATES - PRINCIPAL 2,575 0   0
    FOREIGN TAXES ON QUALIFIED FOR 877 877   0
    FOREIGN TAXES ON NONQUALIFIED 11 11   0