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
STEVEN C LEUTHOLD FAMILY FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)33 SOUTH 6TH STREET NO 4600   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN55402
A Employer identification number

41-1680986
B Telephone number (see instructions)

(612) 332-1567
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$41,534,065J 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) 4,071,058
2 Check bullet
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 544,397 544,397  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,781,992
b Gross sales price for all assets on line 6a 74,739,339
7 Capital gain net income (from Part IV, line 2)... 1,781,992
8 Net short-term capital gain.........  
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)....... Click to see attachment 179,066 179,066  
12 Total. Add lines 1 through 11........ 6,576,513 2,505,455  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 45,000 0   45,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 44,004 0   44,004
c Other professional fees (attach schedule).... Click to see attachment 210,104 107,881   102,223
17 Interest...............        
18 Taxes (attach schedule) (see instructions) Click to see attachment 18,964 18,161   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 7,344 0   7,344
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 2,429 0   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 327,845 126,042   198,571
25 Contributions, gifts, grants paid........ 5,000,000 5,000,000
26 Total expenses and disbursements. Add lines 24 and 25 5,327,845 126,042   5,198,571
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,248,668
b Net investment income (if negative, enter -0-) 2,379,413
c Adjusted net income (if negative, enter -0-)...  
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............... 1,024,879 11,416 11,416
2 Savings and temporary cash investments..........      
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
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 bullet        
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)........      
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 37,441,041 Click to see attachment39,805,395 41,522,649
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 38,465,920 39,816,811 41,534,065
Liabilities 17 Accounts payable and accrued expenses..........   102,223
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 0 102,223
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......... 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 38,465,920 39,714,588
30 Total net assets or fund balances (see page 17 of the
instructions).................... 38,465,920 39,714,588
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 38,465,920 39,816,811
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 38,465,920
2 Enter amount from Part I, line 27a..................... 2 1,248,668
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 39,714,588
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 39,714,588
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 ABB LTD SPON ADR - 17,445.0000 SHS   2013-05-16 2013-07-19
b ABENGOA S A EURO 0.25 EUR - 20,299.0000 SHS   2013-08-16 2013-08-22
c ABENGOA S A EURO 0.25 EUR - 21,155.0000 SHS   2013-08-15 2013-09-04
d ABENGOA S A EURO 0.25 EUR - 110,846.0000 SHS   2013-08-16 2013-12-27
e ABENGOA S A EURO 0.25 EUR - 20,043.0000 SHS   2013-08-16 2013-12-30
ACCIONA S.A. EUR - 7326.0000 SHS   2013-08-27 2013-09-24
ALLEGIANT TRAVEL CO - 2,588.0000 SHS   2013-06-25 2013-07-29
AMERICAN AIRLS GROUP INC - 0.7655 SHS   2013-09-26 2013-12-12
AMR CORP DEL *-EXCHANGE-EFF-12/2013** - 90,000.0000 SHS   2013-09-26 2013-11-08
AMR CORP DEL *-EXCHANGE-EFF-12/2013** - 33,500.0000 SHS   2013-09-26 2013-11-13
AMREP CORP - 8,100.0000 SHS   2013-02-14 2013-10-17
AMREP CORP - 33,900.0000 SHS   2013-02-14 2013-10-18
AMREP CORP - 8,400.0000 SHS   2013-06-27 2013-10-18
ANADARKO PETROLEUM CORP - 5,070.0000 SHS   2013-01-24 2013-07-19
ANADARKO PETROLEUM CORP - 4.4080000 SHS   2013-05-16 2013-07-19
BANGKOK DUSIT MEDICAL NON VTG DEP RCPT THB - 77.3430000 SHS   2013-07-17 2013-11-05
BEIJING TONG REN TANG CHINESE MEDICINE CO LTD - 299,983.0000 SHS   2013-07-17 2013-10-28
CAMECO CORP CANADA CAD - 1,074.0000 SHS   2013-01-24 2013-06-28
CHESAPEAKE ENERGY CORP OKLA - 18,211.0000 SHS   2013-01-24 2013-07-19
CHESAPEAKE ENERGY CORP OKLA - 13,991.0000 SHS   2013-01-24 2013-11-05
D R NORTON INC - 18,258.0000 SHS   2013-06-21 2013-06-28
DEVON ENERGY CORP NEW - 5,890.0000 SHS   2013-01-24 2013-07-08
DEVON ENERGY CORP NEW - 6,618.0000 SHS   2013-05-16 2013-07-08
ENERGY RECOVERY INC - 2,708.0000 SHS   2013-08-15 2013-08-21
ISHARES MSCI TURKEY ETF - 5452.0000 SHS   2013-01-24 2013-07-19
MARKET VECTORS RUSSIA - 30,100.0000 SHS   2013-01-24 2013-12-04
PIONEER NAT RES CO - 2,855.0000 SHS   2013-01-24 2013-09-26
PIONEER NAT RES CO - 2,855.0000 SHS   2013-05-08 2013-09-26
PIONEER NAT RES CO - 2,785.0000 SHS   2013-05-16 2013-09-26
PT KALBE FARMA TBK ADR - 11,488.0000 SHS   2013-07-17 2013-11-05
PULTE GROUP INC - 20,148.0000 SHS   2013-06-21 2013-06-28
RYANAIR HOLDINGS PLC SPON ADR - 5,506.0000 SHS   2013-06-25 2013-08-26
SHANDONG WE1GAO GP MEDICAL SHS H CNY - 200,777.0000 SHS   2013-07-17 2013-07-29
ST JOE CO - 9,780.0000 SHS   2013-05-01 2013-09-23
TETRA TECH INC NEW - 10,000.0000 SHS   2013-09-04 2013-09-26
TETRA TECH INC NEW - 5,700.0000 SHS   2013-09-18 2013-09-26
JONG REN TANG TECHNOLOGIES CO CNY - 104,412.0000 SHS   2013-07-17 2013-11-05
DESCRIPTION (BOX 3): UNITED ENVIROTECH LTD SGD - 248,000.0000 SHS   2013-09-19 2013-12-10
DESCRIPTION (BOX 3): UNITED ENVIROTECH LTD SGD - 204,000.0000 SHS   2013-09-19 2013-12-11
DESCRIPTION (BOX 3): UNITED ENVIROTECH LTD SGD - 132,000.0000 SHS   2013-09-19 2013-12-11
DESCRIPTION (BOX 3): UNITED ENVIROTECH LTD SGD - 316,000.0000 SHS   2013-09-19 2013-12-12
DESCRIPTION (BOX 3): UNITED ENVIROTECH LTD SGD - 120,000.0000 SHS   2013-09-19 2013-12-12
DESCRIPTION (BOX 3): UNITED ENVIROTECH LTD SGD - 9000.0000 SHS   2013-09-25 2013-12-12
US AIRWAYS GROUP INC **MERGER EFF: 12/2013** - 22,000.0000 SHS   2013-02-12 2013-04-23
US AIRWAYS GROUP INC **MERGER EFF: 12/2013** - 33,000.0000 SHS   2013-02-12 2013-09-26
ABB LTD SPON ADR - 19,976.0000 SHS   2012-03-27 2013-01-23
ABB LTD SPON ADR - 30,037.0000 SHS   2012-10-01 2013-07-19
CHINA STHN AIRLINES CO LTD REPSTG 50 SHS CL H - 4,314.0000 SHS   2012-12-12 2013-06-25
CHINA STHN AIRLINES CO LTD REPSTG 50 SHS CL H - 3,180.0000 SHS   2012-12-13 2013-06-25
CHINA STHN AIRLINES CO LTD REPSTG 50 SHS CL H - 5,331.0000 SHS   2012-12-14 2013-06-25
CHINA STHN AIRLINES CO LTD REPSTG 50 SHS CL H - 1,513.0000 SHS   2012-12-17 2013-06-25
CHINA STHN AIRLINES CO LTD REPSTG 50 SHS CL H - 3,192.0000 SHS   2012-12-18 2013-06-25
CHINA STHN AIRLINES CO LTD REPSTG 50 SHS CL H - 3,178.0000 SHS   2012-12-19 2013-06-25
CHINA STHN AIRLINES CO LTD REPSTG 50 SHS CL H - 3,204.0000 SHS   2012-12-20 2013-06-25
GRIFOLS S A CL B SPON ADR - 17,682.0000 SHS   2012-07-25 2013-01-23
GRIFOLS S A CL B SPON ADR - 885.0000 SHS   2012-12-11 2013-01-23
GUINESS ATKINSON CHINA HONG KONG FUND - 13,109.8000 SHS   2012-02-16 2013-01-24
ISHARES MSCI MALAYSIA ETF - 12,726.0000 SHS   2012-10-01 2013-01-23
ISHARES MSCI SINGAPORE ETF - 14,017.0000 SHS   2012-10-01 2013-01-23
ISHARES MSCI SOUTH KOREA CAPPED ETF - 1,241.0000 SHS   2012-10-01 2013-07-08
ISHARES MSCI TAIWAN ETF - 13,924.0000 SHS   2012-10-01 2013-01-23
ISHARES MSCI THAILAND CAPPED ETF - 2,461.0000 SHS   2012-10-01 2013-01-23
JETBLUE AIRWAYS CORP - 42,253.0000 SHS   2012-12-12 2013-04-23
JETBLUE AIRWAYS CORP - 63,380.0000 SHS   2012-12-12 2013-05-16
MARKET VECTORS INDONESIA IND - 6,587.0000 SHS   2012-10-01 2013-01-23
MYRIAD GENETICS INC NEW - 22,105.0000 SHS   2012-07-25 2013-01-23
PLUM CREEK TIMBER CO INC REIT - 11,865.0000 SHS   2012-10-24 2013-03-07
PLUM CREEK TIMBER CO INC REIT - 14,089.0000 SHS   2012-10-24 2013-03-27
PROSHARES TRUST PROSHARES SHORT RUSSELL2000 - 13,634.0000 SHS   2012-05-17 2013-03-27
PROSHARES TRUST PROSHARES SHORT RUSSELL2000 - 54,089.0000 SHS   2012-05-17 2013-05-06
PROSHARES TRUST PROSHARES SHORT RUSSELL2000 - 56,449.0000 SHS   2012-06-29 2013-05-06
PROSHARES TRUST PROSHARES SHORT S&P 500 - 53,219.0000 SHS   2012-11-19 2013-05-06
SOUTHWEST AIRUNES CO - 14,005.0000 SHS   2012-05-08 2013-04-23
ST JOE CO - 21,163.0000 SHS   2012-10-16 2013-09-23
ST JOE CO - 37,834.0000 SHS   2012-10-17 2013-09-23
TEJON RANCH CO - 13,177.0000 SHS   2012-05-17 2013-01-24
TEXAS PACIFIC LAND TRUST SUB SHS CTF PROPRIETARY - 605.0000 SHS   2012-05-30 2013-01-23
TEXAS PACIFIC LAND TRUST SUB SHS CTF PROPRIETARY - 1,668.0000 SHS   2012-05-31 2013-01-23
TEXAS PACIFIC LAND TRUST SUB SHS CTF PROPRIETARY - 4,578.0000 SHS   2012-06-01 2013-01-23
TEXAS PACIFIC LAND TRUST SUB SHS CTF PROPRIETARY - 2,950.0000 SHS   2012-10-24 2013-01-23
WEYERHAEUSER CO - 29,511.0000 SHS   2012-10-01 2013-05-01
WEYERHAEUSER CO - 14,081.0000 SHS   2012-10-02 2013-05-01
ABB LTD SPON ADR - 9.9130000 SHS   2012-03-27 2013-07-19
ALASKA AIR GROUP INC - 6,733.0000 SHS   2012-03-09 2013-04-23
ALASKA AIR GROUP INC - 10,100.0000 SHS   2012-03-09 2013-12-17
CAMECO CORP CANADA CAD - 18,192.0000 SHS   2012-03-27 2013-06-28
CELGENE CORP - 716.0000 SHS   2012-01-17 2013-01-23
CELGENE CORP - 2,865.0000 SHS   2012-01-17 2013-01-23
COPA HOLDINGS SA CL A - 2,165.0000 SHS   2012-03-27 2013-08-26
COPA HOLDINGS SA CL A - 3,010.0000 SHS   2012-03-27 2013-12-09
DELTA AIR UNES INC DELA NEW - 17,414.0000 SHS   2012-03-09 2013-04-23
DELTA AIR UNES INC DELA NEW - 10,548.0000 SHS   2012-03-09 2013-08-26
FORESTAR GROUP INC - 19,735.0000 SHS   2012-05-30 2013-12-09
FORESTAR GROUP INC - 8,130.0000 SHS   2012-05-31 2013-12-09
GILEAD SCIENCES INC - 1,008.0000 SHS   2012-01-17 2013-01-23
GILEAD SCIENCES INC - 4,040.0000 SHS   2012-01-17 2013-01-23
GUINESS ATKINSON CHINA HONG KONG FUND - 6,593.1120 SHS   2012-02-16 2013-07-08
GUINESS ATKINSON CHINA HONG KONG FUND - 19,625.8880 SHS   2012-02-21 2013-07-08
ISHARES MSCI MALAYSIA ETF - 929.0000 SHS   2012-01-17 2013-01-23
ISHARES MSCI MALAYSIA ETF - 7,587.0000 SHS   2012-01-17 2013-01-23
ISHARES MSCI SINGAPORE ETF - 2,214.0000 SHS   2012-01-17 2013-01-23
ISHARES MSCI SINGAPORE ETF - 16,595.0000 SHS   2012-01-17 2013-01-23
ISHARES MSCI SOUTH KOREA CAPPED ETF - 787.0000 SHS   2012-01-17 2013-07-08
ISHARES MSCI SOUTH KOREA CAPPED ETF - 7,705.0000 SHS   2012-01-17 2013-07-08
I SHARES MSCI TAIWAN ETF - 2,205.0000 SHS   2012-01-17 2013-01-23
I SHARES MSCI TAIWAN ETF - 18,100.0000 SHS   2012-01-17 2013-01-23
ISHARES MSCI THAILAND CAPPED ETF - 5,262.0000 SHS   2012-01-17 2013-01-23
ISHARES MSCI THAILAND CAPPED ETF - 591.0000 SHS   2012-01-17 2013-01-23
LTC PROPERTIES INC REAL ESTATE INVESTMNT TR - 3,458.0000 SHS   2012-01-17 2013-01-23
LTC PROPERTIES INC REAL ESTATE INVESTMNT TR - 13,856.0000 SHS   2012-01-17 2013-01-23
MARKET VECTORS INDONESIA IND - 1,140.0000 SHS   2012-01-17 2013-01-23
MARKET VECTORS INDONESIA IND - 8,612.0000 SHS   2012-01-17 2013-01-23
MATTHEWS CHINA FUND - 13,995.0000 SHS   2012-01-17 2013-01-24
PROSHARES TR SHORT 20+ YR ETF - 8,000.0000 SHS   2012-03-12 2013-09-18
PROSHARES TR SHORT 20+ YR ETF - 10,842.0000 SHS   2012-03-12 2013-10-02
PROSHARES TR SHORT 20+ YR ETF - 24,158.0000 SHS   2012-03-13 2013-10-02
SOUTHWEST AIRLINES CO - 21,007.0000 SHS   2012-05-08 2013-06-28
PUT CBOE S&P 500 INDEX DUE 01/17/15 1700.000 - 10 SHS   2013-11-05 2013-12-31
PUT CBOE S&P 500 INDEX DUE 01/17/15 1725.000 - 20.0000 SHS   2013-11-26 2013-12-31
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 7.0000 SHS   2013-07-31 2013-09-24
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 16.0000 SHS   2013-07-31 2013-10-22
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 1.0000 SHS   2013-07-31 2013-10-22
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 12.0000 SHS   2013-08-12 2013-10-22
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 11.0000 SHS   2013-08-16 2013-10-22
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 3.0000 SHS   2013-08-16 2013-11-05
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 1.0000 SHS   2013-08-19 2013-11-05
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 5.0000 SHS   2013-09-04 2013-11-05
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 12.0000 SHS   2013-09-17 2013-11-05
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 5.0000 SHS   2013-09-18 2013-11-05
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 2.0000 SHS   2013-09-25 2013-11-05
PUT CBOE S&P 500 INDEX DUE DUE 01/18/14 01/18/14 1650.000 - 12.0000 SHS   2013-10-04 2013-11-05
PUT CBOE S&P 500 INDEX DUE 01/18/14 1675.000 - 20.0000 SHS   2013-10-16 2013-11-05
SPDR GOLD TRUST     2013-02-21
SPDR GOLD TRUST     2013-03-12
SPDR GOLD TRUST     2013-04-09
SPDR GOLD TRUST     2013-05-10
SPDR GOLD TRUST     2013-06-17
SPDR GOLD TRUST     2013-07-10
SPDR GOLD TRUST     2013-08-15
SPDR GOLD TRUST     2013-09-19
SPDR GOLD TRUST     2013-10-14
SPDR GOLD TRUST     2013-11-13
SPDR GOLD TRUST     2013-12-17
LEUTHOLD PRIVATE STRATEGY COMMON   2012-01-18 2013-01-28
(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 397,135   389,878 7,257
b 66,865   66,728 137
c 59,332   69,542 -10,210
d 361,568   364,377 -2,809
e 66,164   65,886 278
421,198   387,609 33,589
248,309   276,582 -28,273
20   6 14
840,528   401,912 438,616
409,358   149,601 259,757
63,632   76,546 -12,914
266,106   320,359 -54,253
65,938   52,500 13,438
459,623   401,448 58,175
399,609   389,768 9,841
316,013   391,918 -75,905
497,328   500,497 -3,169
22,121   23,048 -927
402,099   342,005 60,094
397,778   262,753 135,025
393,843   381,109 12,734
324,024   321,246 2,778
364,073   388,798 -24,725
12,914   13,579 0
322,749   400,455 -77,706
829,559   918,353 -88,794
533,677   321,935 211,742
533,677   392,083 141,594
520,592   386,676 133,916
256,747   343,152 -86,405
382,394   375,342 7,052
270,307   277,221 -6,914
181,621   197,650 -16,029
193,887   191,009 2,878
253,565   231,095 22,470
144,532   144,694 -162
297,710   365,113 -67,403
155,066   182,890 -27,824
122,847   150,442 -27,595
79,484   97,345 -17,861
191,900   233,038 -41,138
72,874   87,928 -15,054
47,975   57,130 -9,155
358,753   317,295 41,458
638,534   475,943 162,591
418,140   408,339 9,801
683,791   570,033 113,758
83,570   104,312 -20,742
61,603   76,665 -15,062
103,272   130,588 -27,316
29,310   38,266 -8,956
61,835   79,421 -17,586
61,564   81,027 -19,463
62,068   83,261 -21,193
432,759   356,823 75,936
21,660   17,859 3,801
400,111   410,206 -10,095
187,193   188,540 -1,347
190,911   189,457 1,454
64,108   74,304 -10,196
186,578   188,252 -1,674
209,079   188,082 20,997
300,664   230,913 69,751
410,346   346,372 63,974
189,839   189,229 610
594,062   568,980 25,082
577,214   523,731 53,483
714,150   621,900 92,250
294,210   384,088 -89,878
1,139,086   1,523,757 -384,671
1,188,787   1,519,263 -330,476
1,572,054   1,877,875 -305,821
186,962   115,939 71,023
419,553   410,816 8,737
750,052   763,361 -13,309
388,839   351,128 37,711
32,236   33,834 -1,598
88,876   93,573 -4,697
243,930   258,955 -15,025
157,185   159,431 -2,246
888,695   771,621 117,074
424,035   369,657 54,378
225,669   202,637 23,032
411,309   234,498 176,811
712,826   351,764 361,062
374,695   411,785 -37,090
70,532   52,244 18,288
282,228   208,085 74,143
295,121   170,110 125,011
439,658   236,503 203,155
286,358   163,664 122,694
215,372   99,134 116,238
371,827   266,551 105,276
153,177   108,280 44,897
77,464   46,545 30,919
310,471   181,356 129,115
172,278   206,298 -34,020
512,824   612,916 -100,092
13,665   12,688 977
111,601   103,335 8,266
30,154   25,752 4,402
226,023   190,677 35,346
40,655   42,746 -2,091
398,025   410,599 -12,574
29,546   26,718 2,828
242,536   218,648 23,888
447,043   317,878 129,165
50,209   36,023 14,186
126,759   109,744 17,015
507,917   438,189 69,728
32,855   33,348 -493
248,200   250,351 -2,151
340,918   309,290 31,628
262,802   257,804 4,998
346,291   349,389 -3,098
771,601   786,870 -15,269
270,229   173,904 96,325
376,125   566,360 -190,235
162,100   205,105 -43,005
28,380   38,747 -10,367
25,198   88,564 -63,366
1,575   5,275 -3,700
18,898   62,225 -43,327
17,324   71,119 -53,795
3,404   19,396 -15,992
1,135   6,370 -5,235
5,674   32,780 -27,106
13,618   46,985 -33,367
5,674   19,730 -14,056
2,270   7,935 -5,665
13,618   50,585 -36,967
29,895   69,305 -39,410
2,030     0
1,973     0
2,020     0
2,085     0
1,823     0
1,795     0
1,652     0
1,752     0
1,803     0
1,613     0
1,551     0
37,543,161   37,516,769 26,392
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       7,257
b       137
c       -10,210
d       -2,809
e       278
      33,589
      -28,273
      14
      438,616
      259,757
      -12,914
      -54,253
      13,438
      58,175
      9,841
      -75,905
      -3,169
      -927
      60,094
      135,025
      12,734
      2,778
      -24,725
      0
      -77,706
      -88,794
      211,742
      141,594
      133,916
      -86,405
      7,052
      -6,914
      -16,029
      2,878
      22,470
      -162
      -67,403
      -27,824
      -27,595
      -17,861
      -41,138
      -15,054
      -9,155
      41,458
      162,591
      9,801
      113,758
      -20,742
      -15,062
      -27,316
      -8,956
      -17,586
      -19,463
      -21,193
      75,936
      3,801
      -10,095
      -1,347
      1,454
      -10,196
      -1,674
      20,997
      69,751
      63,974
      610
      25,082
      53,483
      92,250
      -89,878
      -384,671
      -330,476
      -305,821
      71,023
      8,737
      -13,309
      37,711
      -1,598
      -4,697
      -15,025
      -2,246
      117,074
      54,378
      23,032
      176,811
      361,062
      -37,090
      18,288
      74,143
      125,011
      203,155
      122,694
      116,238
      105,276
      44,897
      30,919
      129,115
      -34,020
      -100,092
      977
      8,266
      4,402
      35,346
      -2,091
      -12,574
      2,828
      23,888
      129,165
      14,186
      17,015
      69,728
      -493
      -2,151
      31,628
      4,998
      -3,098
      -15,269
      96,325
      -190,235
      -43,005
      -10,367
      -63,366
      -3,700
      -43,327
      -53,795
      -15,992
      -5,235
      -27,106
      -33,367
      -14,056
      -5,665
      -36,967
      -39,410
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      26,392
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 1,781,992
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 2,656,343 38,578,435 0.068856
2011 2,605,650 41,276,588 0.063127
2010 2,305,210 38,319,878 0.060157
2009 1,897,249 32,081,998 0.059137
2008 1,791,721 32,613,399 0.054938
2 Total of line 1, column (d) ...................... 2 0.306215
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3 0.061243
4 Enter the net value of noncharitable-use assets for 2013 from Part X, line 5..... 4 39,178,429
5 Multiply line 4 by line 3....................... 5 2,399,405
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 23,794
7 Add lines 5 and 6......................... 7 2,423,199
8 Enter qualifying distributions from Part XII, line 4.............. 8 5,198,571
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 23,794
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 23,794
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 23,794
6 Credits/Payments:
a 2013 estimated tax payments and 2012 overpayment credited to 2013 6a 16,200
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 17,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 33,200
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
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 9,406
11 Enter the amount of line 10 to be: Credited to 2014 estimated taxBullet9,406 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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
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)
    bulletMN
    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 addressbulletN/A
    14
    The books are in care ofbulletJENELLE WELLER Telephone no.bullet (612) 259-8696
    Located atbullet80 SOUTH 8TH STREET SUITE 4900MINNEAPOLISMN ZIP+4bullet55402
    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
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 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
     
     
    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
    STEVEN C LEUTHOLD DIRECTOR
    1.00     		9,000 0 0
    1300 YALE PLACE SUITE 329
    MINNEAPOLIS,MN55403
    DR LINDA LEUTHOLD DONERKIEL DIRECTOR
    1.00     		9,000 0 0
    750 COW HORSE DRIVE
    KUNA,ID83634
    MICHAEL LEUTHOLD DIRECTOR
    1.00     		9,000 0 0
    10201 E GLENN STREET
    TUCSON,AZ85749
    KURT LEUTHOLD DIRECTOR
    1.00     		9,000 0 0
    1810 OAKVIEW LANE N
    PLYMOUTH,MN55441
    RUSSELL LEUTHOLD DIRECTOR
    1.00     		9,000 0 0
    31357 CHAMPAGNE ROAD
    WAUKEE,IA50263
    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 Click to see attachment 0
    Total. Add lines 1 through 3.........................bullet0
    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
    1,958,921
    2a
    Tax on investment income for 2013 from Part VI, line 5......
    2a
    23,794
    b
    Income tax for 2013. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    23,794
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,935,127
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,935,127
    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
    1,935,127
    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 1,935,127
    2 Undistributed income, if any, as of the end of 2013:
    a Enter amount for 2012 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2013:
    a From 2008....... 172,655
    b From 2009....... 316,841
    c From 2010....... 407,268
    d From 2011....... 573,286
    e From 2012....... 759,777
    fTotal of lines 3a through e......... 2,229,827
    4Qualifying distributions for 2013 from Part
    XII, line 4: bullet$ 5,198,571
    a Applied to 2012, but not more than line 2a 0
    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..... 1,935,127
    e Remaining amount distributed out of corpus 3,263,444
    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 5,493,271
    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 ..........     		0
    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) ...     		172,655
    9Excess distributions carryover to 2014.
    Subtract lines 7 and 8 from line 6a ......     		5,320,616
    10 Analysis of line 9:
    a Excess from 2009.... 316,841
    b Excess from 2010.... 407,268
    c Excess from 2011.... 573,286
    d Excess from 2012.... 759,777
    e Excess from 2013.... 3,263,444
    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).)
    STEVEN C LEUTHOLD
    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 or e-mail address of the person to whom applications should be addressed:
    STEVEN C LEUTHOLD
    33 SOUTH 6TH STREET SUITE 4600
    MINNEAPOLIS,MN55402
    (612) 332-1567
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER STATING PURPOSE FOR WHICH FUNDS ARE REQUESTED AND RELEVANT INFORMATION ON ACTIVITIES OF ORGANIZATION.
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    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
    30 DAYS FOUNDATION (THE)
    8014 OLSON HIGHWAY
    GOLDEN VALLEY,MN55427     		NONE   OPERATIONS 7,000
    ALBERTINI MELANOMA RESEARCH PROGRAM UWI
    600 HIGHLAND AVENUE K6/530 CSC
    MADISON,WI537924678     		NONE   JAY VAN SLOUN MEMORIAL RESEARCH PROGRAM 11,000
    ALLIANCE FOR SUSTAINABILITY
    2801 21ST AVE S STE 100 GREENWAY
    BUILDING
    MINNEAPOLIS,MN55407     		NONE   OPERATIONS 4,000
    ALS ASSOCIATION MINNESOTA CHAPTER
    333 N WASHINGTON AVE STE 105
    MINNEAPOLIS,MN55401     		NONE   ALS RESEARCH SPECIFICALLY AT MAYO IN JACKSONVILLE 30,000
    AMERICAN BIRD CONSERVANCY
    PO BOX 249 4249 LOUDOUN AVE
    THE PLAINS,VA201982237     		NONE   OPERATIONS 5,000
    AMERICAN CIVIL LIBERTIES UNION FOUNDATION INC
    125 BROAD STREET 18TH FLOOR
    NEW YORK,NY10004     		NONE   AG GAG PROGRAM 3,000
    AMERICAN CIVIL LIBERTIES UNION FOUNDATION INC
    125 BROAD STREET 18TH FLOOR
    NEW YORK,NY10004     		NONE   OPERATIONS 10,000
    AMERICAN PRAIRIE RESERVE
    7 EAST BEALL ST SUITE 100
    BOZEMAN,MT59715     		NONE   PURCHASE OF LAND TO EXPAND THE RESERVE 10,000
    AMERICAN RIVERS
    1101 14TH STREET NW SUITE 1400
    WASHINGTON,DC200055637     		NONE   OPERATIONS 29,000
    AMERICAN VET MED FOUNDATION
    1931 N MEACHAM RD STE 100
    SCHAUMBURG,IL60173     		NONE   OPERATIONS 8,000
    ANIMAL WELFARE INSTITUTE
    900 PENNSYLVANIA AVE SE
    WASHINGTON,DC20027     		NONE   OPERATIONS 5,000
    ANIMALS IN DISTRESS
    2201 WEST BOISE AVE
    BOISE,ID837063163     		NONE   OPERATIONS 5,000
    ARIZONA GREYHOUND RESCUE
    8987 E TANQUE VERDE
    TUCSON,AZ85749     		NONE   OPERATIONS 5,000
    ARIZONA LAND AND WATER TRUST
    3127 N CHERRY AVENUE
    TUCSON,AZ85719     		NONE   OPERATIONS 10,000
    BIG BROTHERSBIG SISTERS OF SWQ IDAHO
    110 NORTH 27TH ST
    BOISE,ID83702     		NONE   OPERATIONS 5,000
    BIG BROTHERSBIG SISTERS OF TUCSON
    160 E ALAMEDA ST
    TUCSON,AZ85701     		NONE   OPERATIONS 2,000
    BOGUS BASIN RECREATIONAL ASSOC
    2600 BOGUS BASIN ROAD
    BOISE,ID83702     		NONE   OPERATIONS 5,000
    BORN FREE
    1122 S STREET
    SACRAMENTO,CA95822     		NONE   ANTI ANIMAL TRAPPING CAMPAIGN 9,000
    BOYS & GIRLS CLUB ADA
    610 EAST 42ND STREET
    GARDEN CITY,ID83714     		NONE   ADA B&G'S CLUB 5,000
    BOYS & GIRLS CLUB KUNA COUNTY
    610 EAST 42ND STREET
    GARDEN CITY,ID83714     		NONE   KUNA COUNTY B&G'S CLUB 20,000
    BOYS & GIRLS CLUB OF TUCSON
    PO BOX 40217
    TUCSON,AZ85717     		NONE   OPERATIONS 13,000
    BSU FOUNDATION INNOCENCE PROJECT
    1910 UNIVERSITY DRIVE
    BOISE,ID83725     		NONE   PROJECT INNOCENCE PROJECT 10,000
    CAN DO CANINES
    9440 SCIENCE CENTER DRIVE
    NEW HOPE,MN55428     		NONE   OPERATIONS 19,000
    CANYON COUNTY ANIMAL SHELTER
    5801 GRAYE LANE
    CALDWELL,ID83607     		NONE   OPERATIONS 10,000
    CATCH INC
    503 S AMERICANA BLVD
    BOISE,ID83702     		NONE   OPERATIONS 10,000
    CENTER FOR BIOLOGICAL DIVERSITY
    1333 NORTH ORACLE
    TUCSON,AZ85702     		NONE   ENDANGERED SPECIES, CONDOMS/OVERPOPULATION PROGRAM 20,000
    CENTER FOR BIOLOGICAL DIVERSITY
    1333 NORTH ORACLE ROAD
    TUCSON,AZ85701     		NONE   OPERATIONS 44,000
    CENTER FOR SCIENCE IN THE PUBLIC INTEREST
    1220 L STREET NW STE 300
    WASHINGTON,DC20005     		NONE   OPERATIONS 5,000
    CHARITY NAVIGATOR
    139 HARRISTOWN ROAD STE 201
    GLEN ROCK,NJ07452     		NONE   OPERATIONS 1,000
    CHILD LANGUAGE CENTER INC
    202 E SPEEDWAY
    TUCSON,AZ85705     		NONE   WINGS ON WORDS PROGRAM 10,000
    CHILDREN'S CHANCE
    1617 INDEPENDENCE AVE N
    GOLDEN VALLEY,MN55427     		NONE   OPERATIONS 32,000
    CHILDREN'S HOME SOCIETY & FAMILY SERVICES
    1605 EUSTIS STREET
    ST PAUL,MN55116     		NONE   SCHOLARSHIP PROGRAM FOR SPECIAL NEEDS ADOPTIONS 25,000
    CHIMP HAVEN
    13600 CHIMPANZEE PLACE
    KEITHVILLE,LA71047     		NONE   OPERATIONS 25,000
    CLOUD NINE RESCUE FLIGHTS
    955 RIDGEFIELD ROAD
    HAMILTON,OH45013     		NONE   OPERATIONS 8,000
    COALITION FOR SONORAN DESERT PROTECTION
    300 EAST UNIVERSITY BLVD SUITE 120
    TUCSON,AZ85705     		NONE   OPERATIONS 24,000
    COASTAL HUMANE SOCIETY
    190 RANGE ROAD
    BRUNSWICK,ME04011     		NONE   PROGRAMS NOT FOR BUILDING 10,000
    COLORADO THERAPEUTIC RIDING CENTER
    11968 MINERAL ROAD
    LONGMONT,CO80504     		NONE   OPERATIONS 4,000
    COMMUNITY FOOD BANK TUCSON
    3003 SOUTH COUNTRY CLUB ROAD
    TUCSON,AZ85713     		NONE   OPERATIONS 37,000
    COMMUNITY VETERINARY CENTER
    200 E 37TH AVE
    EUGENE,OR97402     		NONE   OPERATIONS 4,000
    COMPATIBLE TECHNOLOGIES INTERNATIONAL
    800 TRANSFER ROAD SUITE 6
    ST PAUL,MN55114     		NONE   OPERATIONS 54,000
    CONSERVATION FUND
    394 LAKE AVENUE SOUTH STE 404
    DULUTH,MN55802     		NONE   EFFORTS RELATED TO SAX-ZIM-BOG 10,000
    COPPER COUNTRY AUDUBON SOCIETY
    907 DONMAR DRIVE
    HOUGHTON,MI49931     		NONE   EFFORTS RELATED TO THE PILGRIM RIVER WATERSHED PROJECT AND THE KEWEENAW WILDLIFE CORRIDOR 10,000
    COPPER COUNTRY HISTORY MUSEUM (PREVIOUSLY U P FIREFIGHTERS MEM MUSEUM)
    534 ISLE ROYALE STREET
    LAURIUM,MI49913     		NONE   TECHNOLOGY UPGRADES AND GENERAL OPERATING EXPENSE 4,000
    COPPER COUNTY CHAPTER OF TROUT UNLIMITED
    907 DONMAR DRIVE
    HOUGHTON,MI49931     		NONE   PILGRIM RIVER WATERSHED PROJECT 10,000
    COPPER HARBOR TRAILS CLUB
    PO BOX 37
    COPPER HARBOR,MI49918     		NONE   OPERATIONS 6,000
    COPPER RANGE HISTORICAL SOCIETY
    44 TRIMOUNTAIN AVE PO BOX 148
    SOUTH RANGE,MI49963     		NONE   OPERATIONS 3,000
    CROSSROADS ANIMAL SHELTER
    2800 10TH ST SE
    BUFFALO,MN55313     		NONE   SPAY/NEUTER PROGRAM 5,000
    DASSELCOKATO HISTORICAL MUSEUM
    175 WEST 4TH STREET PO BOX 41
    COKATO,MN553210041     		NONE   OPERATIONS 4,000
    DODGE COUNTY HISTORICAL SOCIETY
    PO BOX 456 615 MAIN ST
    MANTORVILLE,MN559550456     		NONE   OPERATIONS 1,000
    EARTH JUSTICE
    50 CALIFORNIA STREET STE 500
    SAN FRANCISCO,CA94111     		NONE   OPERATIONS 70,000
    EARTH WORKS
    1612 K ST NW SUITE 808
    WASHINGTON,DC20006     		NONE   MINING REFORM 35,000
    ECO EDUCATION
    1295 BANDANA BOULEVARD STE 118
    ST PAUL,MN55108     		NONE   OPERATIONS 5,000
    EL RIO FOUNDATION
    839 W CONGRESS
    TUCSON,AZ85745     		NONE   OPERATIONS 40,000
    ELECTRONIC FRONTIER FOUNDATION
    815 EDDY STREET
    SAN FRANCISCO,CA94109     		NONE   OPERATIONS 30,000
    ENGLISH LEARNING CENTER
    2315 CHICAGO AVE S
    MINNEAPOLIS,MN55405     		NONE   OPERATIONS 3,000
    ENVIRONMENTAL PAPER NETWORK
    16 EAGLE STREET STE 200
    ASHEVILLE,NC28801     		NONE   OPERATIONS 15,000
    FAMILY CARE FOUNDATION
    1373 MARRON VALLEY ROAD
    DULZURA,CA91917     		NONE   ESPOIR CONGO (F37) 46,000
    FAMILY PLANNING ASSOCIATION MAINE
    43 GABRIEL DRIVE PO BOX 587
    AUGUSTA,ME043320587     		NONE   OPERATIONS 5,000
    FEED MY STARVING CHILDREN
    401 93RD AVE NW
    COON RAPIDS,MN55433     		NONE   OPERATIONS 104,000
    FLORIDA KEYS WILDLIFE RESCUE INC
    1388 AVE B
    BIG PINE KEY,FL33043     		NONE   OPERATIONS 5,000
    FRESH ENERGY
    408 SAINT PETER STREET STE 220
    ST PAUL,MN55102     		NONE   OPERATIONS 5,000
    FRIENDS OF CASCO BAY
    43 SLOCUM DRIVE
    SOUTH PORTLAND,ME04106     		NONE   OPERATIONS 9,000
    FRIENDS OF SAX-ZIM BOG
    2515 GARTHUS ROAD
    WRENSHALL,MN55797     		NONE   PURCHASE HIGH QUALITY HABITAT 5,000
    FRIENDS OF SAX-ZIM BOG
    2515 GARTHUS ROAD
    WRENSHALL,MN55797     		NONE   PURCHASE HIGH QUALITY HABITAT 35,000
    FRIENDS OF THE ELOISE BUTLER WILD FLOWER GARDEN
    PO BOX 3793
    MINNEAPOLIS,MN55403     		NONE   OPERATIONS 6,000
    FRIENDS OF THE MISSISSIPPI
    360 N ROBERT ST STE 400
    ST PAUL,MN55101     		NONE   OPERATIONS 30,000
    FRIENDS OF XL HOSPICE
    8903 WEST LANDMARK COURT
    BOISE,ID83704     		NONE   OPERATIONS 5,000
    GLEN CANYON INSTITUTE
    429 EAST 100 SOUTH
    SALT LAKE CITY,UT84111     		NONE   OPERATIONS 30,000
    GRANDPARENTS AS PARENTS INC
    22048 SHERMAN WAY 217
    CANOGA PARK,CA91303     		NONE   OPERATIONS 10,000
    GREENPEACE
    702 H STREET NW STE 300
    WASHINGTON,DC20001     		NONE   OPERATIONS 10,000
    GREYHOUND RESCUE OF IDAHO
    146 N MIDDLETON ROAD PMB 125
    NAMPA,ID83651     		NONE   OPERATIONS 3,000
    HEART GIFT LOUISIANA
    5500 PRYTANIA 306
    NEW ORLEANS,LA70115     		NONE   OPERATIONS 5,000
    HERITAGE RADIO SOCIETY INC
    219 COUSINS ST
    YARMOUTH,ME04096     		NONE   WYAR 3,000
    HOPE INC
    1200 N COUNTRY CLUB ROAD
    TUCSON,AZ85716     		NONE   OPERATIONS 5,000
    HUMANE EDUCATION ADVOCATES REACHING TEACHERS INC
    PO BOX 738
    MAMRONECK,NY10543     		NONE   OPERATIONS 11,000
    HUMANE FARMING ASSOCIATION
    PO BOX 3577
    SAN RAFAEL,CA94912     		NONE   OPERATIONS 73,000
    HUMANE SOCIETY OF FREEBORN COUNTY
    101 JAMES AVENUE
    ALBERT LEA,MN56007     		NONE   OPERATIONS 12,000
    HUMANE SOCIETY OF SOUTHERN ARIZONA
    3450 N KELVIN BLVD
    TUCSON,AZ85716     		NONE   SPAY & NEUTER PROGRAM 5,000
    HUMANE SOCIETY OF THE UNITED STATES
    700 PROFESSIONAL DRIVE
    GAITHERSBURG,MD20879     		NONE   ADOPT A CLASSROOM FOR KIND NEWS 6,000
    HUMANE SOCIETY OF THE UNITED STATES
    700 PROFESSIONAL DRIVE
    GAITHERSBURG,MD20879     		NONE   DESIGNATED TO END GESTATION CRATES IN PIGS 50,000
    IDAHO ACADEMIC DECATHLON
    815 W WASHINGTON STE 2
    BOISE,ID83702     		NONE   OPERATIONS 2,000
    IDAHO ENVIRONMENTAL ASSOCIATION
    PO BOX 4168
    HAILEY,ID83333     		NONE   OPERATIONS 5,000
    IDAHO FOODBANK WAREHOUSE
    3562 SOUTH TK AVENUE
    BOISE,ID83705     		NONE   BACKPACK PROGRAM 15,000
    IDAHO YOUTH RANCH
    5468 W IRVING ST
    BOISE,ID83706     		NONE   OPERATIONS 10,000
    INSTITUTE OF RANGE AND AMERICAN MUSTANG
    PO BOX 998
    HOT SPRINGS,SD57747     		NONE   OPERATIONS 14,000
    INTERCULTURAL CENTER FOR STUDY OF DESERTS & OCEANS
    PO BOX 44208
    TUCSON,AZ85733     		NONE   OPERATIONS 5,000
    IZAAK WALTON LEAGUE OF AMERICA MINNESOTA DIVISION
    2233 UNIVERSITY AVE W STE 339
    ST PAUL,MN55114     		NONE   OPERATIONS 7,000
    KBEM RADIO
    1555 JAMES AVENUE N
    MINNEAPOLIS,MN55411     		NONE   OPERATIONS 2,000
    KEWEENAW COMMUNITY FOREST CO
    13992 SMITH FISHERIES ROAD
    MOHAWK,MI49950     		NONE   PRESERVATION OF WILDERNESS AREAS SPECIFICALLY RELATED TO THE PROTECTION OF DEER LAKE AND THE BASE OF BARE BLUFF 35,000
    KEWEENAW COUNTY HISTORICAL SOCIETY
    670 LIGHTHOUSE ROAD
    EAGLE HARBOR,MI49950     		NONE   OPERATIONS 10,000
    KEWEENAW LAND TRUST
    801 N LINCOLN DR STE 306
    HANCOCK,MI49930     		NONE   OPERATIONS 25,000
    LIFE'S KITCHEN
    1025 S CAPITOL BLVD STE 106
    BOISE,ID83706     		NONE   OPERATIONS 10,000
    LIVE THEATER WORKSHOP
    5317 SPEEDWAY BLVD
    TUCSON,AZ85712     		NONE   SCHOLARSHIPS 8,000
    MAINE PBS
    1450 LISBON STREET
    LEWISTON,ME04240     		NONE   OPERATIONS 8,000
    MAKE OLD THINGS NEW
    2120 MINNEHAHA AVE S
    MINNEAPOLIS,MN55404     		NONE   OPERATIONS 1,000
    MCCALL OUTDOOR SCIENCE SCHOOL
    PO BOX 1025
    MCCALL,ID83638     		NONE   OPERATIONS 10,000
    MCPAWS REGIONAL ANIMAL SHELTER
    PO BOX 1375
    MCCALL,ID83638     		NONE   OPERATIONS 5,000
    MICHIGAN NATURE ASSOCIATION
    326 E GRAND RIVER AVENUE
    WILLIAMSTON,MI48895     		NONE   KEWEENAW PROJECTS 20,000
    MINNEAPOLIS RECREATIONAL DEVELOPMENT
    7220 YORK AVENUE S 610
    EDINA,MN55435     		NONE   OPERATIONS 5,000
    MINNESOTA CENTER FOR ENVIRONMENTAL ADVOCACY
    26 E EXCHANGE ST STE 206
    ST PAUL,MN55101     		NONE   OPERATIONS 4,000
    MINNESOTA COUNCIL ON ECONOMIC EDUCATION
    DEPT OF APPLIED ECON 1994 BUFORD
    AVE
    ST PAUL,MN55108     		NONE   OPERATIONS 6,000
    MINNESOTA ZOO
    13000 ZOO BOULEVARD
    APPLE VALLEY,MN55124     		NONE   OPERATIONS 6,000
    MOBILE MEALS OF TUCSON
    4803 EAST 5TH STREET 209
    TUCSON,AZ85711     		NONE   OPERATIONS 12,000
    NATIONAL PARKS CONSERVATION ASSOC
    777 6TH NW STE 700
    WASHNGTON,DC210013723     		NONE   OPERATIONS 4,000
    NATIONAL STUTTERING ASSOCIATION
    119 W 40TH STREET 14TH FL
    NEW YORK,NY10018     		NONE   OPERATIONS 2,000
    NATIVE SEEDSSEARCH
    3584 E RIVER ROAD
    TUCSON,AZ85718     		NONE   OPERATIONS 17,000
    NATURAL RESOURCES DEFENSE COUNCIL NRDC
    40 W 20TH ST
    NEW YORK,NY10011     		NONE   OPERATIONS 5,000
    NATURE CONSERVANCY ARIZONA
    1510 E FT LOWELL ROAD
    TUCSON,AZ85719     		NONE   OPERATIONS 15,000
    NATURE CONSERVANCY ARIZONA
    1510 E FT LOWELL ROAD
    TUCSON,AZ85719     		NONE   OPERATIONS 20,000
    NATURE CONSERVANCY COSTA RICA
    245 NORTH FAIRFAX DRIVE SUITE 100
    ARLINGTON,VA22204     		NONE   OPERATIONS 5,000
    NATURE CONSERVANCY HAWAII
    923 NUUANU AVE
    HONOLULU,HI96816     		NONE   UNGULATE CONTROL PROGRAMME 10,000
    NATURE CONSERVANCY IDAHO
    116 FIRST AVENUE NORTH
    HAILEY,ID08333     		NONE   OPERATIONS 53,000
    NATURE CONSERVANCY IOWA
    505 FIFTH AVEUE STE 930
    DES MOINES,IA50309     		NONE   OPERATIONS 13,000
    NATURE CONSERVANCY MAINE
    14 MAINE ST STE 401
    BRUNSWICK,ME04011     		NONE   OPERATIONS 30,000
    NATURE CONSERVANCY MAINE
    14 MAINE ST STE 401
    BRUNSWICK,ME04011     		NONE   OPERATIONS 2,500,000
    NATURE CONSERVANCY MICHIGAN
    101 E GRAND RIVER
    LANSING,MI48912     		NONE   KEWEENAW PROJECTS 35,000
    NATURE CONSERVANCY MINNESOTA
    1101 WEST RIVER PKWY STE 200
    MINNEAPOLIS,MN55415     		NONE   AFRICA LEA MILELE PROJECT 50,000
    NATURE CONSERVANCY MINNESOTA
    1101 WEST RIVER PKWY STE 200
    MINNEAPOLIS,MN55415     		NONE   OPERATIONS 45,000
    NATURE CONSERVANCY UTAH
    559 EAST SOUTH TEMPLE
    SALT LAKE CITY,UT84102     		NONE   OPERATIONS 9,000
    NATURE CONSERVANCY WASHINGTON
    1917 FIRST AVENUE
    SEATTLE,WA98101     		NONE   OPERATIONS 10,000
    NEPAL SOCIAL SERVICE FUND
    77461 297TH STREET
    CLARKS GROVE,MN56016     		NONE   OPERATIONS 20,000
    NORTHEAST WILDERNESS TRUST
    17 STATE STREET SUITE 302
    MONTPELIER,VT05602     		NONE   OPERATIONS 35,000
    NORWEGIAN LUTHERAN CHURCH HISTORICAL SOCIETY
    608 ELM ST
    CALUMET,MI49913     		NONE   OPERATIONS 4,000
    OLD PUEBLO TROLLEY
    3736 N TUCSON BLVD
    TUCSON,AZ857161030     		NONE   OPERATIONS 5,000
    ONEGENERATION
    17400 VICTORY BLVD
    VAN NUYS,CA91406     		NONE   OPERATIONS 5,000
    PAINSDALE MINE & SHAFT
    PO BOX 332
    PAINSDALE,MI49955     		NONE   OPERATIONS 8,000
    PARENT CONNECTION
    2700 S 8TH STREET
    TUCSON,AZ85713     		NONE   OPERATIONS 15,000
    PETS FOR THE ELDERLY FOUNDATION
    530 E HUNT HWY STE 103 PMB 472
    SAN TAN VALLEY,AZ85143     		NONE   OPERATIONS 25,000
    PLANNED PARENTHOOD ARIZONA
    5651 NORTH 7TH STREET
    PHOENIX,AZ85014     		NONE   GRASSROOTS CAMPAIGN 15,000
    PLANNED PARENTHOOD ARIZONA
    5651 NORTH 7TH STREET
    PHOENIX,AZ85014     		NONE   OPERATIONS 20,000
    PLANNED PARENTHOOD OF THE GREAT NORTHWEST (FORMERLY IDAHO)
    2001 E MADISON STREET
    SEATTLE,WA98122     		NONE   OPERATIONS 10,000
    POPULATION CONNECTION
    2120 L STREET NW STE 500
    WASHINGTON,DC20037     		NONE   OPERATIONS 54,000
    PRESERVATION ALLIANCE OF MINNESOTA
    416 LANDMARK CENTER 75 W 5TH STREET
    ST PAUL,MN55102     		NONE   OPERATIONS 4,000
    PRO CHOICE RESOURCES
    250 3RD AVE N STE 625
    MINNEAPOLIS,MN55401     		NONE   OPERATIONS 10,000
    SALVATION ARMY OF NORTHERN NEW ENGLAND
    PO BOX 3647
    PORTLAND,ME04101     		NONE   PROGRAMS ONLY 35,000
    SAVE THE SCENIC SANTA RITAS
    8987 E TANQUE VERDE 309-157
    TUCSON,AZ85749     		NONE   OPERATIONS 73,000
    SIERRA CLUB FOUNDATION
    2327 E FRANKLIN AVE 1
    MINNEAPOLIS,MN55406     		NONE   SIERRA CLUB NORTH STAR CHAPTER 8,000
    SIMPLY CATS ADOPTION CENTER
    2833 S VICTORY VIEW WAY
    BOISE,ID83709     		NONE   OPERATIONS 5,000
    SMALL SUMS CHANGE LIVES (FORMERLY AT HOME GROUP)
    614 SOUTH 3RD STREET
    MINNEAPOLIS,MN55415     		NONE   OPERATIONS 8,000
    SOCIETY FOR COMPANION ANIMALS
    619 WOOLSEY DR
    DALLAS,TX75224     		NONE   OPERATION TRANSPORT 2,000
    SONORAN INSTITUTE
    44 E BROADWAY BLVD STE 350
    TUCSON,AZ85701     		NONE   OPERATIONS 5,000
    SPAY NEUTER IDAHO PETS INC
    1077 S GARDEN PL
    BOISE,ID837055846     		NONE   OPERATIONS 10,000
    ST ANDREWS CLINIC
    PO BOX 67
    GREEN VALLEY,AZ85622     		NONE   OPERATIONS 20,000
    STOP PREDATORY GAMBLING
    100 MARYLAND AVE NE ROOM 310
    WASHINGTON,DC20002     		NONE   OPERATIONS 5,000
    STUTTERING FOUNDATION OF AMERICA
    1805 MORIAH WOODS BLVD STE 3
    MEMPHIS,TN000038117     		NONE   OPERATIONS 2,000
    TEDFORD HOUSING
    PO BOX 958 14 MIDDLE STREET
    BRUNSWICK,ME04011     		NONE   WARM THY NEIGHBOR 3,000
    THE FOOD TRUST
    1617 JOHN F KENNEDY BLVDONE PENN
    CENTER 900
    PHILADELPHIA,PA19103     		NONE   OPERATIONS 5,000
    TLC HORSE MULE AND DONKEY RESCUE
    PO BOX 6915
    KINGMAN,AZ86402     		NONE   OPERATIONS 8,000
    TRUST FOR PUBLIC LAND
    101 MONTGOMERY STREET STE 900
    SAN FRANCISCO,CA94104     		NONE   OPERATIONS 11,000
    UM CVM COLLEGE SCHOLARSHIP FUND
    1365 GORTNER AVE 459
    ST PAUL,MN55108     		NONE   OPERATIONS 10,000
    UNION FOR CONCERNED SCIENTISTS
    TWO BRATTLE SQUARE
    CAMBRIDGE,MA02138     		NONE   OPERATIONS 30,000
    UNIVERSITY OF MT FOUNDATION MONTANA
    32 CAMPUS DRIVE 205 NS BLDG
    MISSOULA,MT59812     		NONE   MONTANA COOPERATIVE WILDLIFE RESEARCH UNIT 10,000
    VIETNAMESE SOCIAL SERVICES MN
    277 UNIVERSITY AVENUE W
    ST PAUL,MN55103     		NONE   ELDER CIRCLE PROJECT IN MINNESOTA 3,000
    VISION LOSS RESOURCES
    1936 LYNDALE AVENUE SOUTH
    MINNEAPOLIS,MN55403     		NONE   OPERATIONS 4,000
    VOLUNTEERS OF AMERICA
    7625 METRO BLVD
    MINNEAPOLIS,MN05439     		NONE   OPERATIONS 9,000
    WARM BLANKETS
    5105 TOLLVIEW DR 155
    ROLLING MEADOWS,IL60008     		NONE   OPERATIONS 58,000
    WEST AFRICA VILLAGE AND ENVIRONMENTAL PROJECT
    PO BOX 1241
    PRIOR LAKE,MN55372     		NONE   VILLAGE WELLS CLEAN WATER PROJECT 15,000
    WEST VET
    5019 N SAWYER AVENUE
    GARDEN CITY,ID83714     		NONE   NIGEL FUND 4,000
    WESTERN WATERSHED PROJECT
    PO BOX 1770
    HAILEY,ID83333     		NONE   OPERATIONS 5,000
    WHOLE LEARNING SCHOOL (THE)
    9400 CEDAR LAKE RD STE 7
    ST LOUIS PARK,MN55426     		NONE   OPERATIONS 15,000
    WILD SCIENCE EXPLORERS
    PO BOX 3174
    MCCALL,ID83638     		NONE   OPERATIONS 6,000
    WILDEARTH GUARDIANS
    516 ALTO STREET
    SANTA FE,NM87501     		NONE   END TRAPPING CAMPAIGN 20,000
    WILDLIFE REHABILITATION CENTER
    2530 DALE ST
    ROSEVILLE,MN55113     		NONE   OPERATIONS 2,000
    WISH GRANTORS
    1365 N ORCHARD 252
    BOISE,ID83706     		NONE   OPERATIONS 5,000
    WOLF RIDGE ENVIRONMENTAL LEARNING CENTER
    6282 CRANBERRY ROAD
    FINLAND,MN556039700     		NONE   ENVIRONMENTAL SCIENCE IMMERSION PROGRAM (HENRY AND ROOSEVELT HIGH) 5,000
    WORLD FOOD PROGRAM
    1725 I STREET SUITE 510
    WASHINGTON,DC20006     		NONE   OPERATIONS 30,000
    WORLD WATCH
    1400 16TH STREET NW SUITE 430
    WASHINGTON,DC20036     		NONE   OPERATIONS 9,000
    Total .................................bullet 3a 5,000,000
    bApproved for future payment
    Total .................................bullet 3b 0
    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....     14 544,397  
    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.....     14 179,066  
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 1,781,992  
    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).. 0 2,505,455 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    132,505,455
    (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
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
    OMB No. 1545-0047
    2013
    Name of the organization
    STEVEN C LEUTHOLD FAMILY FOUNDATION
     
    Employer identification number

    41-1680986
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......................... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2013)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2013)
    Page 2
    Name of organization
    STEVEN C LEUTHOLD FAMILY FOUNDATION
          		Employer identification number

    41-1680986
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    STEVEN C LEUTHOLD  
    1300 YALE PLACE SUITE 329
     
    MINNEAPOLIS, MN55403

    		$4,071,058


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2013)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2013)
    Page 3
    Name of organization
    STEVEN C LEUTHOLD FAMILY FOUNDATION
          		Employer identification number

    41-1680986
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2013)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2013)
    Page 4
    Name of organization
    STEVEN C LEUTHOLD FAMILY FOUNDATION
          		Employer identification number

    41-1680986
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    that total more than $1,000 for the year. Complete columns (a) through (e) and the following line entry.
    For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
    contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2013)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2013 AccountingFeesSchedule
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN: 41-1680986
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADMINISTRATION 20,000 0   20,000
    LEGAL AND ACCOUNTING 24,004 0   24,004

    TY 2013 AllOthProgRltdInvestmentsSch
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN: 41-1680986
    Category Amount
    N/A 0

    TY 2013 InvestmentsOtherSchedule2
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN: 41-1680986
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    CASH/MUTUAL FUNDS AT COST 39,805,395 41,522,649

    TY 2013 OtherExpensesSchedule
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN: 41-1680986
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MISCELLANEOUS 2,429 0   0


    TY 2013 OtherIncomeSchedule2
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN: 41-1680986
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PORTFOLIO INCOME 89,735 89,735 89,735
    MISCELLANEOUS INCOME 12,761 12,761 12,761
    COMMON TRUST FUND INCOME 76,570 76,570 76,570


    TY 2013 OtherProfessionalFeesSchedule
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN: 41-1680986
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MANAGEMENT FEES 210,104 107,881   102,223


    TY 2013 TaxesSchedule
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN: 41-1680986
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INCOME TAXES 803 0   0
    FOREIGN TAXES 18,161 18,161   0