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.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
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:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$17,419,908J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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) 1,000,000
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 348,931 348,931  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -3,027,062
b Gross sales price for all assets on line 6a 35,563,539
7 Capital gain net income (from Part IV, line 2)... 0
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 679,650 679,650  
12 Total. Add lines 1 through 11........ -998,481 1,028,581  
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)......... Click to see attachment 42,001 0   42,001
b Accounting fees (attach schedule)....... Click to see attachment 9,050 0   9,050
c Other professional fees (attach schedule).... Click to see attachment 221,841 121,496   100,345
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 15,823 15,823   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 36,608 0   36,608
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 1,499 0   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 371,822 137,319   233,004
25 Contributions, gifts, grants paid....... 11,434,725 11,434,725
26 Total expenses and disbursements. Add lines 24 and 25 11,806,547 137,319   11,667,729
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -12,805,028
b Net investment income (if negative, enter -0-) 891,262
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
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............. 66,355 34,660 34,660
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).......... 31,066,082 Click to see attachment18,393,094 17,385,248
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) 31,132,437 18,427,754 17,419,908
Liabilities 17 Accounts payable and accrued expenses.......... 280,864 381,209
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)......... 280,864 381,209
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 30,851,573 18,046,545
30 Total net assets or fund balances (see instructions)..... 30,851,573 18,046,545
31 Total liabilities and net assets/fund balances (see instructions). 31,132,437 18,427,754
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
30,851,573
2
Enter amount from Part I, line 27a .....................
2
-12,805,028
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
18,046,545
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
18,046,545
Form 990-PF (2015)
Form 990-PF (2015)
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 ATS AUTOMATION TOOLING SYS   2015-07-24 2015-08-27
b ATS AUTOMATION TOOLING SYS   2015-07-24 2015-10-20
c ANSYS INC   2014-12-17 2015-01-14
d ANSYS INC   2014-12-17 2015-06-16
e ANSYS INC   2014-12-17 2015-08-27
BROOKS AUTOMATION INC   2014-10-30 2015-01-14
BROOKS AUTOMATION INC   2014-10-30 2015-04-08
BROOKS AUTOMATION INC   2014-10-30 2015-04-08
BROOKS AUTOMATION INC   2014-10-31 2015-04-08
BROOKS AUTOMATION INC   2014-12-12 2015-04-08
BROOKS AUTOMATION INC   2015-02-03 2015-04-08
CVS HEALTH CORP   2014-01-28 2015-01-14
CVS HEALTH CORP   2014-07-01 2015-02-03
CVS HEALTH CORP   2014-09-26 2015-02-03
CADIZ INC NEW   2014-09-16 2015-01-14
CADIZ INC NEW   2014-09-16 2015-04-13
GUGGENHEIM CHINA SMALL CAP ETF   2014-07-15 2015-01-14
GUGGENHEIM CHINA SMALL CAP ETF   2014-07-15 2015-03-24
GUGGENHEIM CHINA SMALL CAP ETF   2014-09-16 2015-03-24
GUGGENHEIM CHINA SMALL CAP ETF   2014-11-06 2015-03-24
COGNEX CORP COMMON STOCK   2014-11-25 2015-01-14
COGNEX CORP COMMON STOCK   2014-11-25 2015-02-17
COLUMBIA GREATER CHINA FUND CLASS A   2015-03-25 2015-06-16
COMMUNITY HEALTH SYSTEMS INC   2014-12-02 2015-01-14
COMMUNITY HEALTH SYSTEMS INC   2014-12-02 2015-02-03
ECOLAB INC COMMON STOCK   2014-11-12 2015-01-13
ENERGY FUELS INC   2014-04-21 2015-01-14
ENERGY FUELS INC   2014-04-21 2015-04-13
ENERGY FUELS INC   2014-10-08 2015-04-13
ENERGY FUELS INC   2014-10-08 2015-04-13
ENERGY FUELS INC   2015-06-19 2015-07-29
ENERGY FUELS INC   2015-06-19 2015-07-29
ENERGY FUELS INC   2015-06-19 2015-07-29
ENERGY FUELS INC   2015-06-19 2015-07-29
FARO TECHNOLOGIES INC   2014-11-25 2015-01-14
FARO TECHNOLOGIES INC   2014-11-25 2015-04-23
FARO TECHNOLOGIES INC   2014-12-12 2015-04-23
FIDELITY ADVISOR CHINA REGION FUND CLASS I   2014-02-12 2015-01-14
FIDELITY ADVISOR CHINA REGION FUND CLASS I   2014-12-05 2015-06-16
FIDELITY ADVISOR CHINA REGION FUND CLASS I   2014-12-05 2015-06-16
FIDELITY ADVISOR CHINA REGION FUND CLASS I   2014-12-05 2015-06-16
FIRST TR EXCHANGE TRADED FD AMEX BIOTECHNOLOY INDEX FUNE   2014-06-03 2015-01-14
FIRST TR EXCHANGE TRADED FD AMEX BIOTECHNOLOY INDEX FUNE   2014-06-03 2015-04-07
FIRST TR EXCHANGE TRADED FD AMEX BIOTECHNOLOY INDEX FUNE   2014-08-26 2015-04-07
FIRST TR EXCHANGE TRADED FD AMEX BIOTECHNOLOY INDEX FUNE   2014-08-26 2015-06-16
FIRST TR EXCHANGE TRADED FD AMEX BIOTECHNOLOY INDEX FUNE   2014-08-26 2015-07-08
FIRST TR EXCHANGE TRADED FD AMEX BIOTECHNOLOY INDEX FUNE   2014-08-26 2015-07-08
FIRST TR EXCHANGE TRADED FD AMEX BIOTECHNOLOY INDEX FUNE   2014-09-04 2015-07-28
FIRST TR EXCHANGE TRADED FD AMEX BIOTECHNOLOY INDEX FUNE   2014-09-04 2015-08-05
FIRST TR EXCHANGE TRADED FD AMEX BIOTECHNOLOY INDEX FUNE   2014-09-04 2015-08-27
FIRST TR EXCHANGE TRADED FD AMEX BIOTECHNOLOY INDEX FUNE   2014-09-26 2015-08-27
FISSION URANIUM CORP   2014-04-21 2015-01-14
FISSION URANIUM CORP   2014-04-21 2015-04-08
FISSION URANIUM CORP   2014-10-07 2015-04-08
FISSION URANIUM CORP   2014-10-07 2015-06-16
FISSION URANIUM CORP   2015-02-18 2015-08-27
FISSION URANIUM CORP   2015-02-18 2015-11-05
FISSION URANIUM CORP   2015-03-03 2015-11-05
GILEAD SCIENCES INC   2014-04-30 2015-01-14
GILEAD SCIENCES INC   2014-04-30 2015-02-17
GILEAD SCIENCES INC   2014-10-14 2015-02-17
GLOBAL X FDS GLOBAL X URANIUM ETF   2014-05-27 2015-01-14
GLOBAL X FDS GLOBAL X URANIUM ETF   2014-11-06 2015-06-16
GLOBAL X FDS GLOBAL X URANIUM ETF   2014-11-06 2015-07-08
INTUITIVE SURGICAL INC NEW   2014-10-30 2015-01-14
INTUITIVE SURGICAL INC NEW   2014-10-30 2015-05-12
INTUITIVE SURGICAL INC NEW   2014-10-31 2015-05-12
INTUITIVE SURGICAL INC NEW   2014-11-06 2015-05-12
INTUITIVE SURGICAL INC NEW   2014-11-11 2015-05-12
INTUITIVE SURGICAL INC NEW   2014-12-12 2015-05-12
ISHARES MSCI THAILAND CAPPED ETF   2014-07-15 2015-01-14
ISHARES MSCI THAILAND CAPPED ETF   2014-07-15 2015-05-12
ISHARES MSCI THAILAND CAPPED ETF   2014-08-06 2015-05-12
ISHARES MSCI THAILAND CAPPED ETF   2014-08-26 2015-05-12
ISHARES MSCI THAILAND CAPPED ETF   2014-09-16 2015-05-12
ISHARES MSCI TAIWAN ETF   2014-01-29 2015-01-14
ISHARES MSCI TAIWAN ETF   2014-11-12 2015-06-08
ISHARES MSCI TAIWAN ETF   2015-02-18 2015-06-08
ISHARES MSCI PHILIPPINES ETF   2014-04-21 2015-01-14
ISHARES MSCI PHILIPPINES ETF   2014-07-01 2015-06-08
ISHARES MSCI PHILIPPINES ETF   2014-09-16 2015-06-08
ISHARES MSCI PHILIPPINES ETF   2014-11-06 2015-06-08
ISHARES MSCI PHILIPPINES ETF   2015-01-21 2015-06-08
ISHARES MSCI PHILIPPINES ETF   2015-02-18 2015-06-08
MARKET VECTORS INDONESIA IND   2014-08-06 2015-01-13
MARKET VECTORS INDONESIA IND   2014-08-26 2015-01-13
MARKET VECTORS INDIA SMALL-CAP   2014-07-15 2015-01-14
MARKET VECTORS INDIA SMALL-CAP   2014-07-15 2015-04-07
MARKET VECTORS INDIA SMALL-CAP   2014-08-06 2015-04-07
MARKET VECTORS INDIA SMALL-CAP   2014-09-16 2015-04-07
MARKET VECTORS INDIA SMALL-CAP   2014-09-16 2015-04-07
MARKET VECTORS INDIA SMALL-CAP   2014-11-06 2015-04-07
MARKET VECTORS INDIA SMALL-CAP   2014-11-06 2015-04-07
MARKET VECTORS INDIA SMALL-CAP   2015-03-03 2015-04-07
MATTHEWS ASIA SMALL COMPANIES N/L   2015-04-07 2015-08-18
MATTHEWS ASIA SMALL COMPANIES N/L   2015-06-08 2015-08-18
MATTHEWS ASIA SMALL COMPANIES N/L   2015-06-08 2015-08-26
MATTHEWS ASIA SMALL COMPANIES N/L   2015-06-08 2015-08-27
MATTHEWS ASIA SMALL COMPANIES N/L   2015-06-08 2015-12-07
MATTHEWS CHINA DIVIDEND INVESTOR   2015-03-25 2015-08-18
MATTHEWS CHINA DIVIDEND INVESTOR   2015-03-25 2015-08-19
MATTHEWS CHINA FUND   2014-12-11 2015-07-08
MATTHEWS CHINA FUND   2014-12-11 2015-07-08
MATTHEWS CHINA FUND   2014-12-11 2015-07-08
MATTHEWS CHINA FUND   2015-01-21 2015-07-08
MATTHEWS CHINA FUND   2015-02-03 2015-07-08
NEXTERA ENERGY INC COM   2015-08-05 2015-08-27
NEXTERA ENERGY INC COM   2015-08-05 2015-11-18
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2014-12-12 2015-01-14
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2014-12-12 2015-04-07
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2014-12-12 2015-06-16
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2014-12-17 2015-06-16
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2014-12-17 2015-07-08
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2014-12-24 2015-07-08
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2014-12-24 2015-07-28
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2014-12-24 2015-08-27
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2014-12-24 2015-08-27
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2015-02-17 2015-08-27
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2015-02-17 2015-12-23
POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PTFLO   2015-07-15 2015-12-23
PROSHARES TRUST PROSHARES SHORT S&P 500   2015-09-09 2015-10-27
PROSHARES TRUST PROSHARES SHORT S&P 500   2015-09-09 2015-11-06
PROSHARES TRUST PROSHARES SHORT S&P 500   2015-10-05 2015-11-06
PROSHARES TRUST PROSHARES SHORT S&P 500   2015-10-06 2015-11-06
SUNEDISON INC   2015-07-29 2015-08-11
TERADYNE INC COMMON STOCK   2014-12-12 2015-01-14
TERADYNE INC COMMON STOCK   2014-12-12 2015-01-21
UEX CORP FOREIGN STOCK CAD   2014-04-21 2015-01-14
UEX CORP FOREIGN STOCK CAD   2014-10-07 2015-05-12
UR-ENERGY INC FOREIGN STOCK CAD   2014-04-21 2015-01-14
UR-ENERGY INC FOREIGN STOCK CAD   2014-10-07 2015-07-08
URANERZ ENERGY CORP   2014-04-21 2015-01-14
URANERZ ENERGY CORP   2014-04-21 2015-04-08
URANERZ ENERGY CORP   2014-10-07 2015-04-08
URANERZ ENERGY CORP   2014-10-07 2015-06-16
URANERZ ENERGY CORP   2014-10-07 2015-06-19
URANERZ ENERGY CORP   2015-02-18 2015-06-19
URANIUM ENERGY CORP   2014-12-09 2015-01-14
URANIUM ENERGY CORP   2014-12-09 2015-04-08
URANIUM ENERGY CORP   2015-02-18 2015-04-08
URANIUM ENERGY CORP   2015-02-18 2015-06-16
URANIUM ENERGY CORP   2015-02-18 2015-08-26
URANIUM ENERGY CORP   2015-02-18 2015-08-26
URANIUM ENERGY CORP   2015-02-18 2015-08-26
URANIUM ENERGY CORP   2015-07-08 2015-08-26
VEOLIA ENVIRONNEMENT SPON ADR   2014-05-27 2015-01-14
XYLEM INC   2014-02-04 2015-01-13
XYLEM INC   2014-07-01 2015-01-13
ORIENT OVERSEAS INTL LTD   2015-05-06 2015-06-17
ORIENT OVERSEAS INTL LTD   2015-05-06 2015-08-27
ORIENT OVERSEAS INTL LTD   2015-05-13 2015-08-27
PAC BASIN BULK SHIPPING LTD   2015-05-13 2015-06-17
PAC BASIN BULK SHIPPING LTD   2015-05-13 2015-07-09
TECAN GROUP AG REG NEW   2014-12-18 2015-01-15
TECAN GROUP AG REG NEW   2014-12-18 2015-04-08
TECAN GROUP AG REG NEW   2014-12-18 2015-06-17
TECAN GROUP AG REG NEW   2015-01-21 2015-06-17
TECAN GROUP AG REG NEW   2015-01-21 2015-07-09
TECAN GROUP AG REG NEW   2015-01-21 2015-07-09
TECAN GROUP AG REG NEW   2015-03-03 2015-07-09
KARDEX AG REG CHF   2015-03-18 2015-06-17
SINOPHARM GROUP CO   2014-09-17 2015-01-15
SINOPHARM GROUP CO   2014-09-17 2015-04-09
SINOPHARM GROUP CO   2014-09-17 2015-06-17
SINOPHARM GROUP CO   2014-09-17 2015-09-02
SINOPHARM GROUP CO   2014-09-29 2015-09-02
SINOPHARM GROUP CO   2014-10-31 2015-09-02
SINOPHARM GROUP CO   2014-11-07 2015-09-02
SINOPHARM GROUP CO   2014-11-07 2015-10-07
SINOPHARM GROUP CO   2015-02-04 2015-10-07
SINOPHARM GROUP CO   2015-06-02 2015-10-07
SHANGHAI FOSUN PHARMACEUTICAL   2014-02-27 2015-01-15
KUKA AKTIENGESELLSCHAFT   2014-11-06 2015-01-15
KUKA AKTIENGESELLSCHAFT   2014-11-06 2015-04-08
KUKA AKTIENGESELLSCHAFT   2014-11-06 2015-06-17
KUKA AKTIENGESELLSCHAFT   2014-11-06 2015-08-28
KUKA AKTIENGESELLSCHAFT   2014-11-25 2015-08-28
KRONES AG   2014-10-30 2015-01-15
KRONES AG   2014-10-30 2015-04-08
KRONES AG   2014-10-30 2015-06-17
KRONES AG   2014-10-30 2015-08-28
SAFT GROUPE SA SHS NOM   2015-10-15 2015-12-24
CHINA CORD BLOOD CORP   2014-10-30 2015-01-14
CHINA CORD BLOOD CORP   2014-10-30 2015-04-08
CHINA CORD BLOOD CORP   2014-10-30 2015-06-16
CHINA CORD BLOOD CORP   2014-10-30 2015-08-27
NORDIC AMERICAN TANKERS LTD   2015-05-05 2015-06-16
NORDIC AMERICAN TANKERS LTD   2015-05-05 2015-08-27
TSAKOS ENERGY NAVIGATION LTD   2015-05-05 2015-06-16
TSAKOS ENERGY NAVIGATION LTD   2015-05-05 2015-06-16
TSAKOS ENERGY NAVIGATION LTD   2015-05-05 2015-08-27
E2V TECHNOLOGIES   2015-02-04 2015-06-17
E2V TECHNOLOGIES   2015-02-04 2015-06-17
E2V TECHNOLOGIES   2015-02-04 2015-08-28
CSPC PHARMACEUTICAL GROUP LT   2014-03-19 2015-01-15
CSPC PHARMACEUTICAL GROUP LT   2014-03-19 2015-02-04
CSPC PHARMACEUTICAL GROUP LT   2014-08-27 2015-02-04
AIDA ENGINEERING LTD   2014-03-19 2015-06-17
AIDA ENGINEERING LTD   2014-03-19 2015-07-27
KAWASAKI KISEN KAISHA LTD   2015-05-07 2015-06-17
KAWASAKI KISEN KAISHA LTD   2015-05-07 2015-08-28
KAWASAKI KISEN KAISHA LTD   2015-05-07 2015-11-11
KAWASAKI KISEN KAISHA LTD   2015-05-13 2015-11-11
KEYENCE CORP   2015-03-18 2015-06-17
HARMONIC DRIVE SYSTEMS INC   2015-01-05 2015-01-15
HARMONIC DRIVE SYSTEMS INC   2015-01-05 2015-06-17
HARMONIC DRIVE SYSTEMS INC   2015-01-05 2015-08-28
HARMONIC DRIVE SYSTEMS INC   2015-01-22 2015-08-28
FANUC LTD   2014-12-26 2015-01-15
FANUC LTD   2014-12-26 2015-06-17
FANUC LTD   2014-12-26 2015-08-28
FANUC LTD   2014-12-26 2015-10-15
YASKAYA ELECTRIC JPY 50   2014-12-26 2015-01-14
YASKAYA ELECTRIC JPY 50   2014-12-26 2015-05-13
CHINA MEDICAL SYSTEM HOLDINGS   2014-02-27 2015-01-15
CHINA MEDICAL SYSTEM HOLDINGS   2014-12-15 2015-07-09
CHINA MEDICAL SYSTEM HOLDINGS   2015-02-04 2015-07-09
CHINA MEDICAL SYSTEM HOLDINGS   2015-03-12 2015-07-09
CHINA PIONEER PHARMA HLDGS LTD   2014-12-15 2015-01-15
CHINA PIONEER PHARMA HLDGS LTD   2014-12-15 2015-02-23
CHINA PIONEER PHARMA HLDGS LTD   2014-12-15 2015-02-23
CT ENVIRONMENTAL GROUP LTD HKD   2014-08-14 2015-01-15
CT ENVIRONMENTAL GROUP LTD HKD   2014-08-18 2015-01-15
CT ENVIRONMENTAL GROUP LTD HKD   2014-08-18 2015-06-17
CT ENVIRONMENTAL GROUP LTD HKD   2014-08-27 2015-06-17
CT ENVIRONMENTAL GROUP LTD HKD   2014-08-27 2015-07-09
SINO BIOPHARMACEUTICAL   2014-11-26 2015-01-15
SINO BIOPHARMACEUTICAL   2014-11-26 2015-04-09
SINO BIOPHARMACEUTICAL   2014-11-26 2015-06-17
UNITED LABORATORIES INTL HOLDINGS LTD HKD   2014-07-16 2015-01-14
UNITED LABORATORIES INTL HOLDINGS LTD HKD   2014-07-16 2015-01-14
UNITED LABORATORIES INTL HOLDINGS LTD HKD   2014-07-16 2015-01-14
UNITED LABORATORIES INTL HOLDINGS LTD HKD   2014-09-29 2015-01-14
PUT POWERSHARES QQQ TRU DUE 06/19115   2014-12-11 2015-01-14
PUT POWERSHARES QQQ TRU DUE 06/19115   2014-12-11 2015-02-05
PUT POWERSHARES QQQ TRU DUE 06/19115   2014-12-11 2015-02-13
PUT POWERSHARES QQQ TRU DUE 06/19115   2014-12-11 2015-02-18
PUT POWERSHARES QQQ TRU DUE 06/19115   2015-01-13 2015-02-18
PUT POWERSHARES QQQ TRU DUE 06/19115   2015-01-13 2015-02-18
PUT POWERSHARES QQQ TRU DUE 06/19115   2015-01-13 2015-05-15
PUT POWERSHARES QQQ TRU DUE 06/19115   2015-02-03 2015-05-15
PUT POWERSHARES QQQ TRU DUE 09/18/15   2015-05-15 2015-06-16
PUT POWERSHARES QQQ TRU DUE 09/18/15   2015-05-15 2015-07-15
PUT POWERSHARES QQQ TRU DUE 09/18/15   2015-05-15 2015-08-06
PUT POWERSHARES QQQ TRU DUE 09/18/15   2015-06-08 2015-08-06
PUT POWERSHARES QQQ TRU DUE 09/18/15   2015-06-08 2015-08-06
PUT POWERSHARES QQQ TRU DUE 09/18/15   2015-07-08 2015-08-06
PUT POWERSHARES QQQ TRU DUE 12/18/15   2015-08-07 2015-08-21
PUT POWERSHARES QQQ TRU DUE 12/18/15   2015-08-18 2015-08-21
PUT POWERSHARES QQQ TRU DUE 12/18/15   2015-08-18 2015-08-24
PUT POWERSHARES QQQ TRU DUE 12/18/15   2015-08-18 2015-09-01
PUT POWERSHARES QQQ TRU DUE 12/18/15   2015-08-18 2015-11-06
NEPTUNE ORIENT LINES LTD   2015-05-06 2015-06-17
NEPTUNE ORIENT LINES LTD   2015-05-06 2015-08-28
CITIC ENVIROTECH LTD   2014-09-17 2015-01-15
CITIC ENVIROTECH LTD   2014-09-17 2015-06-17
CITIC ENVIROTECH LTD   2015-03-12 2015-06-17
CITIC ENVIROTECH LTD   2015-03-12 2015-07-09
CITIC ENVIROTECH LTD   2015-03-12 2015-10-15
CITIC ENVIROTECH LTD   2015-04-01 2015-10-15
CITIC ENVIROTECH LTD   2015-04-01 2015-10-20
DIANA SHIPPING INC   2015-05-12 2015-06-16
DIANA SHIPPING INC   2015-05-12 2015-08-27
DIANA SHIPPING INC   2015-05-12 2015-11-18
DIANA SHIPPING INC   2015-05-12 2015-11-18
UNITED STATES NATL GAS FUND LP ETF   2014-11-11 2015-01-14
UNITED STATES NATL GAS FUND LP ETF   2014-11-11 2015-01-21
UNITED STATES OIL FUND LP   2015-01-21 2015-02-25
UNITED STATES OIL FUND LP   2015-01-21 2015-03-12
CVS HEAL TH CORP   2014-01-28 2015-02-03
CAMECO CORP CANADA   2013-05-16 2015-01-14
CAMECO CORP CANADA   2013-05-16 2015-06-16
CAMECO CORP CANADA   2013-05-16 2015-07-29
DENISON MINES CORP   2013-03-25 2015-01-14
DENISON MINES CORP   2013-03-25 2015-04-08
DENISON MINES CORP   2013-03-26 2015-04-08
DENISON MINES CORP   2013-03-01 2015-04-08
DENISON MINES CORP   2013-05-16 2015-04-08
DENISON MINES CORP   2013-05-16 2015-04-08
DENISON MINES CORP   2013-05-16 2015-06-01
DENISON MINES CORP   2013-05-16 2015-06-01
DENISON MINES CORP   2013-05-17 2015-06-01
DENISON MINES CORP   2013-05-17 2015-06-01
DENISON MINES CORP   2013-05-17 2015-06-16
DENISON MINES CORP   2013-05-17 2015-06-16
DENISON MINES CORP   2013-05-17 2015-07-29
DENISON MINES CORP   2013-05-17 2015-07-29
DENISON MINES CORP   2013-05-17 2015-07-29
DENISON MINES CORP   2013-05-17 2015-07-29
FIDELITY ADVISOR CHINA REGION FUND CLASS I   2014-02-12 2015-04-07
FIDELITY ADVISOR CHINA REGION FUND CLASS I   2014-02-12 2015-06-16
FIRST TR EXCHANGE TRADED FD AMEX BIOTECHNOLOY INDEX FUNE   2014-09-26 2015-10-06
FISSION URANIUM CORP   2014-10-07 2015-06-16
FISSION URANIUM CORP   2014-10-07 2015-08-27
GLOBAL X FDS GLOBAL X URANIUM ETF   2014-05-27 2015-06-01
GLOBAL X FDS GLOBAL X URANIUM ETF   2014-05-27 2015-06-16
GLOBAL X FDS GLOBAL X URANIUM ETF   2014-11-06 2015-07-08
ISHARES MSCI TAIWAN ETF   2014-01-29 2015-06-01
ISHARES MSCI TAIWAN ETF   2014-01-29 2015-06-08
ISHARES MSCI PHILIPPINES ETF   2014-04-21 2015-06-08
MATTHEWS CHINA FUND   2013-10-02 2015-04-07
MATTHEWS CHINA FUND   2013-11-20 2015-04-07
MATTHEWS CHINA FUND   2013-11-20 2015-06-16
MATTHEWS CHINA FUND   2013-12-26 2015-06-16
MATTHEWS CHINA FUND   2013-12-26 2015-07-08
UEX CORP   2014-04-21 2015-05-12
UEX CORP   2014-10-07 2015-05-12
UEX CORP   2014-10-07 2015-05-12
UR-ENERGY INC   2014-04-21 2015-06-16
UR-ENERGY INC   2014-04-21 2015-07-08
UR-ENERGY INC   2014-10-07 2015-07-08
UR-ENERGY INC   2014-10-07 2015-07-08
URANERZ ENERGY CORP   2014-10-07 2015-06-19
URANERZ ENERGY CORP   2014-10-07 2015-06-19
URANIUM PARTICIPATION CORP   2013-03-07 2015-06-16
URANIUM PARTICIPATION CORP   2013-03-27 2015-06-16
URANIUM PARTICIPATION CORP   2013-03-27 2015-07-29
URANIUM PARTICIPATION CORP   2013-05-16 2015-07-29
URANIUM PARTICIPATION CORP   2013-05-17 2015-07-29
URANIUM PARTICIPATION CORP   2013-11-20 2015-07-29
URANIUM PARTICIPATION CORP   2013-11-20 2015-08-05
URANIUM PARTICIPATION CORP   2014-02-04 2015-08-05
URANIUM PARTICIPATION CORP   2014-02-04 2015-08-27
VEOLIA ENVIRONNEMENT SPON ADR   2014-05-27 2015-06-16
VEOLIA ENVIRONNEMENT SPON ADR   2014-05-27 2015-08-27
VEOLIA ENVIRONNEMENT SPON ADR   2014-05-27 2015-08-28
BEIJING ENTERPRISES WATER GROU   2013-09-17 2015-01-15
BEIJING ENTERPRISES WATER GROU   2013-09-17 2015-02-23
BEIJING ENTERPRISES WATER GROU   2013-09-19 2015-02-23
BEIJING ENTERPRISES WATER GROU   2013-09-25 2015-02-23
BEIJING ENTERPRISES WATER GROU   2013-09-25 2015-03-12
BEIJING ENTERPRISES WATER GROU   2013-09-26 2015-03-12
BEIJING ENTERPRISES WATER GROU   2013-09-26 2015-06-17
SIHUAN PHARMACEUTICAL HLDGS   2013-07-17 2015-01-15
SIHUAN PHARMACEUTICAL HLDGS   2013-07-17 2015-03-12
SIHUAN PHARMACEUTICAL HLDGS   2013-07-29 2015-03-12
SHANGHAI FOSUN PHARMACEUTICAL   2014-02-27 2015-04-17
CHINA EVERBRIGHT INTL LTD HKD   2013-12-12 2015-01-15
CHINA EVERBRIGHT INTL LTD HKD   2013-12-12 2015-06-18
CHINA EVERBRIGHT INTL LTD HKD   2013-12-12 2015-07-09
CHINA MEDICAL SYSTEM HOLDINGS   2014-02-27 2015-04-09
CHINA MEDICAL SYSTEM HOLDINGS   2014-02-27 2015-06-17
CHINA MEDICAL SYSTEM HOLDINGS   2014-02-27 2015-07-09
SOUND GLOBAL LTD SHS SGD   2013-12-11 2015-01-15
MATTHEWS CHINA FUND   2012-10-23 2015-04-07
SPDR GOLD TRUST   2012-01-17 2015-01-14
SPDR GOLD TRUST   2012-01-17 2015-06-16
SPDR GOLD TRUST   2012-01-17 2015-08-27
SPDR GOLD TRUST   2012-05-10 2015-08-27
URANIUM PARTICIPATION CORP   2012-03-28 2015-01-14
URANIUM PARTICIPATION CORP   2012-03-29 2015-01-14
URANIUM PARTICIPATION CORP   2012-03-29 2015-06-16
SPDR GOLD TRUST     2015-01-14
SPDR GOLD TRUST     2015-02-13
SPDR GOLD TRUST     2015-03-13
SPDR GOLD TRUST     2015-04-10
SPDR GOLD TRUST     2015-05-14
SPDR GOLD TRUST     2015-06-12
SPDR GOLD TRUST     2015-07-08
SPDR GOLD TRUST     2015-08-07
SPDR GOLD TRUST     2015-09-04
SPDR GOLD TRUST     2015-10-05
SPDR GOLD TRUST     2015-11-04
SPDR GOLD TRUST     2015-12-03
PUT CBOE S&P 500 INDEX DUE 12/19/15   2015-11-18 2015-11-04
PUT CBOE S&P 500 INDEX DUE 12/19/15   2015-11-18 2015-11-06
PUT RUSSELL 2000 INDEX DUE 12/19/15   2015-11-18 2015-11-04
PUT RUSSELL 2000 INDEX DUE 12/19/15   2015-11-18 2015-11-06
PUT RUSSELL 2000 INDEX DUE 12/19/15   2015-11-18 2015-09-01
PUT CBOE S&P 500 INDEX DUE 9/18/15   2015-06-08 2015-08-06
PUT CBOE S&P 500 INDEX DUE 9/18/15   2015-06-08 2015-08-06
PUT CBOE S&P 500 INDEX DUE 12/19/15   2015-08-07 2015-08-21
PUT CBOE S&P 500 INDEX DUE 12/19/15   2015-08-07 2015-08-24
PUT RUSSELL 2000 INDEX DUE 9/18/15   2015-05-15 2015-08-06
PUT RUSSELL 2000 INDEX DUE 9/18/15   2015-06-08 2015-08-06
PUT RUSSELL 2000 INDEX DUE 9/18/15   2015-06-08 2015-08-06
PUT RUSSELL 2000 INDEX DUE 12/19/15   2015-08-07 2015-08-21
PUT RUSSELL 2000 INDEX DUE 12/19/15   2015-08-07 2015-08-24
PUT CBOE S&P 500 INDEX DUE 9/18/15   2015-05-15 2015-07-15
PUT CBOE S&P 500 INDEX DUE 9/18/15   2015-06-08 2015-07-15
PUT RUSSELL 2000 INDEX DUE 9/18/15   2015-05-15 2015-07-15
PUT CBOE S&P 500 INDEX DUE 9/18/15   2015-05-15 2015-06-16
PUT RUSSELL 2000 INDEX DUE 9/18/15   2015-05-15 2015-06-16
PUT CBOE S&P 500 INDEX DUE 6/19/15   2015-01-14 2015-05-15
PUT CBOE S&P 500 INDEX DUE 6/19/15   2015-02-03 2015-05-15
PUT RUSSELL 2000 INDEX DUE 6/19/15   2015-01-13 2015-05-15
PUT RUSSELL 2000 INDEX DUE 6/19/15   2015-02-03 2015-05-15
PUT CBOE S&P 500 INDEX DUE 6/19/15   2015-01-14 2015-02-05
PUT CBOE S&P 500 INDEX DUE 6/19/15   2015-01-14 2015-02-13
PUT CBOE S&P 500 INDEX DUE 6/19/15   2015-01-14 2015-02-13
PUT CBOE S&P 500 INDEX DUE 6/19/15   2015-01-14 2015-02-18
PUT RUSSELL 2000 INDEX DUE 6/19/15   2014-12-11 2015-02-13
PUT RUSSELL 2000 INDEX DUE 6/19/15   2014-12-11 2015-02-18
PUT RUSSELL 2000 INDEX DUE 6/19/15   2014-12-12 2015-02-18
PUT RUSSELL 2000 INDEX DUE 6/19/15   2015-01-13 2015-02-18
PUT CBOE S&P 500 INDEX DUE 3/20/15   2014-07-10 2015-01-14
PUT CBOE S&P 500 INDEX DUE 3/20/15   2014-08-04 2015-01-14
PUT CBOE S&P 500 INDEX DUE 3/20/15   2014-09-26 2015-01-14
PUT CBOE S&P 500 INDEX DUE 3/20/15   2014-10-08 2015-01-14
PUT CBOE S&P 500 INDEX DUE 3/20/15   2014-12-11 2015-01-14
PUT RUSSELL 2000 INDEX DUE 6/19/15   2014-12-11 2015-01-14
(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 29,419   34,729 -5,310
b 116,862   141,717 -24,855
c 14,389   14,581 0
d 54,157   48,955 5,202
e 40,263   36,574 3,689
23,474   23,020 454
6,125   6,442 -317
283,976   297,860 -13,884
1,769   1,941 -172
35,592   38,486 -2,894
45,335   53,268 -7,933
35,247   24,996 10,251
7,842   6,026 1,816
57,175   46,154 11,021
5,179   6,268 -1,089
76,447   97,066 -20,619
36,786   36,822 -36
322,886   326,731 -3,845
133,255   141,201 -7,946
98,387   103,554 -5,167
17,062   19,173 -2,111
296,411   298,051 -1,640
422,018   388,172 33,846
20,113   18,806 1,307
290,599   290,225 374
288,118   319,050 -30,932
8,230   15,745 -7,515
30,754   65,909 -35,155
6,301   13,856 -7,555
12,516   20,471 -7,955
1,914   2,117 -203
6,479   7,167 -688
7,709   8,528 -819
36,307   40,164 -3,857
21,953   23,004 -1,051
231,821   294,854 -63,033
38,674   50,320 -11,646
67,605   71,712 -4,107
1,175   961 214
13,607   11,130 2,477
30,603   25,031 5,572
126,918   91,505 35,413
351,645   231,264 120,381
102,978   81,033 21,945
406,655   309,492 97,163
50,870   38,767 12,103
64,645   49,668 14,977
208,382   153,089 55,293
211,648   153,832 57,816
113,886   92,559 21,327
128,278   103,454 24,824
14,404   19,506 -5,102
42,379   56,945 -14,566
17,775   13,933 3,842
24,157   21,323 2,834
9,511   17,466 -7,955
10,798   23,129 -12,331
30,896   70,239 -39,343
28,268   22,186 6,082
34,687   25,896 8,791
431,783   405,058 26,725
17,428   24,783 -7,355
11,158   12,672 -1,514
70,721   97,261 -26,540
24,165   22,332 1,833
187,529   183,996 3,533
23,256   23,486 -230
70,261   71,795 -1,534
4,453   4,594 -141
61,355   62,799 -1,444
36,853   38,593 -1,740
100,989   107,302 -6,313
209,198   219,974 -10,776
178,043   196,018 -17,975
72,342   79,622 -7,280
35,986   33,463 2,523
252,676   253,812 -1,136
75,360   77,178 -1,818
40,167   36,763 3,404
10,455   10,112 343
112,624   112,953 -329
99,987   99,949 38
135,869   142,135 -6,266
32,014   34,982 -2,968
262,434   286,013 -23,579
184,936   207,667 -22,731
36,220   38,329 -2,109
121,367   117,362 4,005
230,995   217,607 13,388
4,420   4,537 -117
155,356   148,480 6,876
46,120   45,876 244
46,710   45,498 1,212
67,879   69,634 -1,755
320,755   367,405 -46,650
604,833   702,905 -98,072
252,835   319,279 -66,444
53,194   65,392 -12,198
216,036   254,728 -38,692
146,738   142,992 3,746
18,981   18,717 264
36   35 1
3,728   3,644 84
9,786   9,567 219
10,905   11,230 -325
10,338   10,683 -345
41,311   43,159 -1,848
156,020   168,268 -12,248
57,670   55,577 2,093
252,272   230,051 22,221
107,615   95,158 12,457
79,732   69,508 10,224
6,618   5,826 792
36,854   32,424 4,430
208,720   175,319 33,401
11,275   10,393 882
87,255   80,407 6,848
16,885   16,493 392
279,072   293,738 -14,666
12,839   15,683 -2,844
433,706   456,285 -1,914
546,810   582,850 -36,040
269,356   302,075 -32,719
122,429   136,998 -14,569
126,082   224,867 -98,785
17,672   19,134 -1,462
273,870   285,376 -11,506
3,916   8,940 -5,024
23,243   33,110 -9,867
4,694   8,430 -3,736
22,202   28,123 -5,921
5,226   8,227 -3,001
34,926   59,410 -24,484
9,369   9,984 -615
15,921   15,281 640
2,117   2,041 76
40,164   45,776 -5,612
3,011   4,657 -1,646
58,659   72,514 -13,855
5,017   5,193 -176
27,288   15,031 12,257
2,527   4,141 -1,614
6,172   9,874 -3,702
24,842   41,159 -16,317
34,312   45,709 -11,397
19,521   20,769 -1,248
327,465   338,444 -10,979
16,016   18,068 -2,052
80,932   100,673 -19,741
159,601   198,296 -38,695
130,138   155,719 -25,581
60,548   64,945 -4,397
161,144   236,164 -75,020
13,511   13,578 0
210,532   180,554 29,978
42,105   36,694 5,411
47,385   41,231 6,154
7,890   7,395 495
14,466   13,624 842
281,542   285,096 -3,554
49,870   45,618 4,252
34,321   32,965 1,356
122,403   95,231 27,172
154,704   123,801 30,903
104,703   114,278 -9,575
6,712   7,484 -772
64,432   75,425 -10,993
25,504   31,910 -6,406
74,563   85,653 -11,090
102,341   103,586 -1,245
51,171   68,616 -17,445
20,130   20,888 -758
23,214   22,632 582
28,180   25,025 3,155
97,537   81,569 15,968
38,494   32,956 5,538
32,664   30,368 2,296
20,937   20,489 448
67,304   58,646 8,658
88,618   78,571 10,047
89,598   78,571 11,027
190,118   211,583 -21,465
8,815   10,225 -1,410
25,204   23,363 1,841
33,832   29,120 4,712
11,911   9,624 2,287
106,623   89,746 16,877
82,149   67,180 14,969
4,820   4,580 240
94,472   89,194 5,278
57,514   70,133 -12,619
5,825   4,478 1,347
90,220   68,253 21,967
65,848   54,368 11,480
20,745   25,364 -4,619
69,980   91,944 -21,964
222,005   244,403 -22,398
45,118   47,922 -2,804
134,057   170,651 -36,594
85,494   98,226 -12,732
60,992   74,333 -13,341
98,876   132,737 -33,861
106,785   143,040 -36,255
55,035   55,961 -926
4,283   4,568 0
81,872   63,956 17,916
16,041   16,750 -709
24,791   26,114 -1,323
16,009   16,745 -736
82,593   66,979 15,614
113,709   117,213 -3,504
113,284   117,213 -3,929
13,259   14,768 -1,509
277,536   273,882 3,654
29,017   22,479 6,538
92,968   139,779 -46,811
60,831   91,701 -30,870
51,649   76,384 -24,735
18,019   20,020 -2,001
584   870 -286
212,055   315,960 -103,905
16,904   13,844 3,060
16,904   13,543 3,361
161,119   91,614 69,505
29,422   17,640 11,782
157,836   115,923 41,913
20,077   20,844 0
55,402   46,900 8,502
135,372   129,235 6,137
30,629   38,272 -7,643
77,440   96,761 -19,321
144,471   180,529 -36,058
31,207   43,883 -12,676
23,834   18,688 5,146
56,385   61,905 0
49,410   82,930 -2,124
37,053   63,074 -26,021
11,665   20,333 -8,668
12,351   23,404 -11,053
4,548   45,508 -40,960
8,641   115,590 -106,949
28,418   32,474 0
12,665   25,832 0
7,175   16,975 -9,800
13,726   34,154 -20,428
18,094   39,675 -21,581
10,919   42,713 -31,794
126,762   67,598 59,164
25,536   11,548 13,988
197,546   68,877 128,669
141,492   51,554 89,938
20,675   77,538 -56,863
70,001   96,974 -26,973
50,431   72,454 -22,023
13,158   11,925 1,233
91,001   77,402 13,599
8,157   7,726 431
26,050   26,801 -751
128,687   157,423 -28,736
77,567   95,840 -18,273
51,871   63,998 -12,127
65,200   64,081 1,119
45,094   47,939 -2,845
54,408   78,620 -24,212
74,627   107,036 -32,409
71,294   97,855 -26,561
976,420   1,451,704 -475,284
275,951   267,799 8,152
704,316   729,272 -24,956
494,723   341,317 153,406
8,600   13,059 -4,459
30,429   43,246 -12,817
100,439   158,339 -57,900
31,684   54,801 -23,117
57,002   109,407 -52,405
30,844   60,005 -29,161
71,631   137,488 -65,857
38,555   61,005 -22,450
41,206   65,194 -23,988
9,570   14,474 -4,904
23,908   36,157 -12,249
16,422   24,843 -8,421
21,806   32,981 -11,175
11,340   17,339 -5,999
18,324   28,019 -9,695
7,182   18,524 -11,342
16,654   42,621 -25,967
17,060   43,659 -26,599
23,836   61,000 -37,164
698,739   688,154 10,585
295,606   264,189 31,417
209,059   194,932 14,127
3,459   4,778 -1,319
2,991   6,824 -3,833
144,589   195,160 -50,571
16,201   23,106 -6,905
11,798   20,576 -8,778
72,416   61,075 11,341
273,900   240,773 33,127
365,331   347,251 18,080
199,509   203,225 -3,716
65,509   70,068 -4,559
133,131   130,588 2,543
173,544   153,053 20,491
98,132   101,942 -3,810
25,522   59,048 -33,526
5,180   13,317 -8,137
5,778   13,703 -7,925
16,032   27,160 -11,128
14,535   30,263 -15,728
5,309   11,669 -6,360
6,030   11,210 -5,180
7,167   11,753 -4,586
8,528   13,069 -4,541
298,798   378,835 -80,037
10,406   13,599 -3,193
273,395   396,563 -123,168
142,817   187,121 -44,304
160,600   210,086 -49,486
107,800   143,518 -35,718
69,199   94,527 -25,328
21,885   28,748 -6,863
85,188   110,127 -24,939
73,697   68,794 4,903
2,915   2,522 393
108,675   94,343 14,332
72,640   45,836 26,804
122,962   90,011 32,951
202,924   145,745 57,179
84,599   58,809 25,790
20,453   13,737 6,716
235,179   158,698 76,481
76,790   39,683 37,107
35,776   18,367 17,409
292,743   177,911 114,832
174,355   111,587 62,768
390,397   336,100 54,297
37,878   30,555 7,323
138,645   100,221 38,424
29,588   24,444 5,144
137,896   105,785 32,111
84,307   78,017 6,290
42,467   48,926 -6,459
56,428   32,520 23,908
150,651   143,809 6,842
200,151   266,177 0
859,937   1,199,519 -339,582
309,815   455,152 -145,337
301,755   431,233 -129,478
92,183   122,684 -30,501
19,831   26,299 -6,468
54,272   74,168 -19,896
1,074     1,074
1,069     1,069
1,447     1,447
1,460     1,460
1,361     1,361
1,372     1,372
1,224     1,224
1,046     1,046
837     837
775     775
848     848
791     791
23,270   44,768 -21,498
21,730   44,768 -23,038
28,513   35,667 -7,154
27,750   35,667 -7,917
77,435   35,667 41,768
32,512   49,389 -16,877
32,512   58,000 -25,488
95,650   53,728 41,922
141,640   53,728 87,912
12,284   16,036 -3,752
73,707   73,355 352
28,664   35,320 -6,656
60,440   39,728 20,712
86,830   39,728 47,102
21,521   32,628 -11,107
8,609   14,111 -5,502
17,040   37,417 -20,377
25,615   26,102 -487
26,595   42,762 -16,167
6,432   92,565 -86,133
5,718   60,205 -54,487
5,398   51,965 -46,567
6,072   54,055 -47,983
57,730   92,566 -34,836
115,075   246,844 -131,769
14,384   30,855 -16,471
85,945   185,130 -99,185
72,905   131,313 -58,408
27,963   51,066 -23,103
39,947   86,455 -46,508
3,995   6,496 -2,501
160,544   298,815 -138,271
116,759   261,245 -144,486
121,624   190,630 -69,006
58,380   90,785 -32,405
233,518   172,085 61,433
23,020   21,886 1,134
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       -5,310
b       -24,855
c       0
d       5,202
e       3,689
      454
      -317
      -13,884
      -172
      -2,894
      -7,933
      10,251
      1,816
      11,021
      -1,089
      -20,619
      -36
      -3,845
      -7,946
      -5,167
      -2,111
      -1,640
      33,846
      1,307
      374
      -30,932
      -7,515
      -35,155
      -7,555
      -7,955
      -203
      -688
      -819
      -3,857
      -1,051
      -63,033
      -11,646
      -4,107
      214
      2,477
      5,572
      35,413
      120,381
      21,945
      97,163
      12,103
      14,977
      55,293
      57,816
      21,327
      24,824
      -5,102
      -14,566
      3,842
      2,834
      -7,955
      -12,331
      -39,343
      6,082
      8,791
      26,725
      -7,355
      -1,514
      -26,540
      1,833
      3,533
      -230
      -1,534
      -141
      -1,444
      -1,740
      -6,313
      -10,776
      -17,975
      -7,280
      2,523
      -1,136
      -1,818
      3,404
      343
      -329
      38
      -6,266
      -2,968
      -23,579
      -22,731
      -2,109
      4,005
      13,388
      -117
      6,876
      244
      1,212
      -1,755
      -46,650
      -98,072
      -66,444
      -12,198
      -38,692
      3,746
      264
      1
      84
      219
      -325
      -345
      -1,848
      -12,248
      2,093
      22,221
      12,457
      10,224
      792
      4,430
      33,401
      882
      6,848
      392
      -14,666
      -2,844
      -1,914
      -36,040
      -32,719
      -14,569
      -98,785
      -1,462
      -11,506
      -5,024
      -9,867
      -3,736
      -5,921
      -3,001
      -24,484
      -615
      640
      76
      -5,612
      -1,646
      -13,855
      -176
      12,257
      -1,614
      -3,702
      -16,317
      -11,397
      -1,248
      -10,979
      -2,052
      -19,741
      -38,695
      -25,581
      -4,397
      -75,020
      0
      29,978
      5,411
      6,154
      495
      842
      -3,554
      4,252
      1,356
      27,172
      30,903
      -9,575
      -772
      -10,993
      -6,406
      -11,090
      -1,245
      -17,445
      -758
      582
      3,155
      15,968
      5,538
      2,296
      448
      8,658
      10,047
      11,027
      -21,465
      -1,410
      1,841
      4,712
      2,287
      16,877
      14,969
      240
      5,278
      -12,619
      1,347
      21,967
      11,480
      -4,619
      -21,964
      -22,398
      -2,804
      -36,594
      -12,732
      -13,341
      -33,861
      -36,255
      -926
      0
      17,916
      -709
      -1,323
      -736
      15,614
      -3,504
      -3,929
      -1,509
      3,654
      6,538
      -46,811
      -30,870
      -24,735
      -2,001
      -286
      -103,905
      3,060
      3,361
      69,505
      11,782
      41,913
      0
      8,502
      6,137
      -7,643
      -19,321
      -36,058
      -12,676
      5,146
      0
      -2,124
      -26,021
      -8,668
      -11,053
      -40,960
      -106,949
      0
      0
      -9,800
      -20,428
      -21,581
      -31,794
      59,164
      13,988
      128,669
      89,938
      -56,863
      -26,973
      -22,023
      1,233
      13,599
      431
      -751
      -28,736
      -18,273
      -12,127
      1,119
      -2,845
      -24,212
      -32,409
      -26,561
      -475,284
      8,152
      -24,956
      153,406
      -4,459
      -12,817
      -57,900
      -23,117
      -52,405
      -29,161
      -65,857
      -22,450
      -23,988
      -4,904
      -12,249
      -8,421
      -11,175
      -5,999
      -9,695
      -11,342
      -25,967
      -26,599
      -37,164
      10,585
      31,417
      14,127
      -1,319
      -3,833
      -50,571
      -6,905
      -8,778
      11,341
      33,127
      18,080
      -3,716
      -4,559
      2,543
      20,491
      -3,810
      -33,526
      -8,137
      -7,925
      -11,128
      -15,728
      -6,360
      -5,180
      -4,586
      -4,541
      -80,037
      -3,193
      -123,168
      -44,304
      -49,486
      -35,718
      -25,328
      -6,863
      -24,939
      4,903
      393
      14,332
      26,804
      32,951
      57,179
      25,790
      6,716
      76,481
      37,107
      17,409
      114,832
      62,768
      54,297
      7,323
      38,424
      5,144
      32,111
      6,290
      -6,459
      23,908
      6,842
      0
      -339,582
      -145,337
      -129,478
      -30,501
      -6,468
      -19,896
      1,074
      1,069
      1,447
      1,460
      1,361
      1,372
      1,224
      1,046
      837
      775
      848
      791
      -21,498
      -23,038
      -7,154
      -7,917
      41,768
      -16,877
      -25,488
      41,922
      87,912
      -3,752
      352
      -6,656
      20,712
      47,102
      -11,107
      -5,502
      -20,377
      -487
      -16,167
      -86,133
      -54,487
      -46,567
      -47,983
      -34,836
      -131,769
      -16,471
      -99,185
      -58,408
      -23,103
      -46,508
      -2,501
      -138,271
      -144,486
      -69,006
      -32,405
      61,433
      1,134
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 -3,027,062
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 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))
2014 9,507,340 38,430,827 0.247388
2013 5,174,777 39,178,429 0.132082
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
2
Total of line 1, column (d) .....................
20.571610
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
0.114322
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
23,088,070
5
Multiply line 4 by line 3......................
5
2,639,474
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
8,913
7
Add lines 5 and 6........................
7
2,648,387
8
Enter qualifying distributions from Part XII, line 4.............
8
11,667,729
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 (2015)
Form 990-PF (2015)
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 Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 8,913
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 8,913
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 8,913
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 8,000
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 8,000
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 9 913
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
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 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 2015 or the taxable year beginning in 2015 (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
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    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 2015, 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 FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    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 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 2015?.............
    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 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    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 2015 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 2015.)..................
    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 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    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 4945(d)(4)(A)? (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 (2015)
    Form 990-PF (2015)
    Page 7
    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  
    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 instructions.
    3 Click to see attachment 0
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    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
    19,866,998
    b
    Average of monthly cash balances.......................
    1b
    3,572,667
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    23,439,665
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    23,439,665
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    351,595
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    23,088,070
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,154,404
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    1,154,404
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    8,913
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    8,913
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,145,491
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,145,491
    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
    1,145,491
    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
    11,667,729
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    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
    11,667,729
    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
    8,913
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    11,658,816
    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 (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 1,145,491
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010...... 407,268
    b From 2011...... 573,286
    c From 2012...... 759,777
    d From 2013...... 3,263,444
    e From 2014...... 7,599,445
    fTotal of lines 3a through e........ 12,603,220
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 11,667,729
    a Applied to 2014, 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 2015 distributable amount..... 1,145,491
    e Remaining amount distributed out of corpus 10,522,238
    5 Excess distributions carryover applied to 2015. 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 23,125,458
    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 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		407,268
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		22,718,190
    10 Analysis of line 9:
    a Excess from 2011.... 573,286
    b Excess from 2012.... 759,777
    c Excess from 2013.... 3,263,444
    d Excess from 2014.... 7,599,445
    e Excess from 2015.... 10,522,238
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    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 2015, 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) 2015 (b) 2014 (c) 2013 (d) 2012
             
    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 (2015)
    Form 990-PF (2015)
    Page 11
    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
    8014 OLSON HIGHWAY 195
    GOLDEN VALLEY,MN55427     		NONE   OPERATIONS 9,000
    ACLU-DESIGNATED AG GAG
    125 BROAD STREET 18TH FLOOR
    NEW YORK,NY10004     		NONE   OPERATIONS 25,000
    AKSHAYA TRUST
    17359 EAST CALEY PLACE
    AURORA,CO80016     		NONE   OPERATIONS 10,000
    ALBERT PAINE UNITED METHODIST CHURCH
    1631 PORTAGE DR
    HANCOCK,MI49930     		NONE   OPERATIONS 9,000
    ALBERTINI MELANOMA RESEARCH - JAY VAN SLOUN
    600 HIGHLAND AVENUE K6/530 CSC
    MADISON,WI537924678     		NONE   OPERATIONS 5,000
    ALLIANCE FOR SUSTAINABILITY
    2801 21ST AVE S SUITE 100
    MINNEAPOLIS,MN55407     		NONE   OPERATIONS 5,000
    AMERICAN BIRD CONSERVANCY
    PO BOX 249 4249 LOUDOUN AVE
    THE PLAINS,VA201982237     		NONE   OPERATIONS 5,000
    AMERICAN PRAIRIE RESERVE
    7 EAST BEALL ST SUITE 100
    BOZEMAN,MT59715     		NONE   OPERATIONS 35,000
    AMERICAN RIVERS
    1101 14TH STREET NW SUITE 1400
    WASHINGTON,DC200055637     		NONE   OPERATIONS 10,000
    AMERICAN VET MED FOUNDATION
    1931 N MEACHAM RD STE 100
    SCHAUMBURG,IL60173     		NONE   OPERATIONS 10,000
    AMICUSVOA
    7625 METRO BLVD
    MINNEAPOLIS,MN05439     		NONE   OPERATIONS 5,000
    ANIMAL WELFARE INSTITUTE
    900 PENNSYLVANIA AVE SE
    WASHINGTON,DC20027     		NONE   OPERATIONS 10,000
    ANIMALS IN DISTRESS
    2201 WEST BOISE AVE
    BOISE,ID837063163     		NONE   OPERATIONS 10,000
    ARIZONA LAND AND WATER TRUST
    3127 N CHERRY AVENUE
    TUCSON,AZ85719     		NONE   OPERATIONS 10,000
    ARIZONAS CHILDREN'S ASSOCPARENT CONNECTION
    2700 S 8TH STREET
    TUCSON,AZ85713     		NONE   OPERATIONS 15,000
    AUDREY PETWEST VETNIGEL FOUND
    5019 N SAWYER
    GARDEN CITY,ID83714     		NONE   OPERATIONS 9,000
    BIG BROTHERSBIG SISTERS OF SW IDAHO
    110 NORTH 27TH ST
    BOISE,ID83702     		NONE   OPERATIONS 9,000
    BIG BROTHERSBIG SISTERS OF TUCSON
    160 E ALAMEDA ST
    TUCSON,AZ85701     		NONE   OPERATIONS 6,000
    BOGUS BASIN RECREATIONAL ASSOC
    2600 BOGUS BASIN ROAD
    BOISE,ID83702     		NONE   OPERATIONS 5,000
    BORN FREE
    1122 S STREET
    SACRAMENTO,CA95822     		NONE   OPERATIONS 30,000
    BOYS & GIRLS CLUB ADA
    610 EAST 42ND STREET
    GARDEN CITY,ID83714     		NONE   OPERATIONS 9,000
    BOYS & GIRLS CLUB KUNA COUNTY
    610 EAST 42ND STREET
    GARDEN CITY,ID83714     		NONE   OPERATIONS 20,000
    BOYS & GIRLS CLUB OF TUCSON
    PO BOX 40217
    TUCSON,AZ85717     		NONE   OPERATIONS 10,000
    CAN DO CANINES
    9440 SCIENCE CENTER DRIVE
    NEW HOPE,MN55428     		NONE   OPERATIONS 15,000
    CATCH INC
    503 S AMERICANA BLVD
    BOISE,ID83702     		NONE   OPERATIONS 10,000
    CENTER FOR BIOLOGICAL DIVERSITY
    1333 NORTH ORACLE
    TUCSON,AZ85702     		NONE   OPERATIONS 41,000
    CENTER FOR BIOLOGICAL DIVERSITY (GENERAL)
    1333 NORTH ORACLE
    TUCSON,AZ85702     		NONE   OPERATIONS 50,000
    CENTER FOR SCIENCE IN THE PUBLIC INTEREST
    1220 L STREET NW STE 300
    WASHINGTON,DC20005     		NONE   OPERATIONS 5,000
    CHILD LANGUAGE CENTER INC
    202 E SPEEDWAY
    TUCSON,AZ85705     		NONE   OPERATIONS 14,000
    CHILDREN'S CHANCE
    1617 INDEPENDENCE AVE N
    GOLDEN VALLEY,MN55427     		NONE   OPERATIONS 45,000
    CHIMP HAVEN
    13600 CHIMPANZEE PLACE
    KEITHVILLE,LA71047     		NONE   OPERATIONS 20,000
    COALITION FOR SONORAN DESERT PROTECTION
    300 EAST UNIVERSITY BLVD SUITE 120
    TUCSON,AZ85705     		NONE   OPERATIONS 25,000
    COKATO-DASSEL HISTORICAL MUSEUM
    175 WEST 4TH STREET PO BOX 41
    COKATO,MN553210041     		NONE   OPERATIONS 2,000
    COMMUNITY FOOD BANK TUCSON
    3003 SOUTH COUNTRY CLUB ROAD
    TUCSON,AZ85713     		NONE   OPERATIONS 38,000
    COMPATIBLE TECHNOLOGIES INTERNATIONAL
    800 TRANSFER ROAD SUITE 6
    ST PAUL,MN55114     		NONE   OPERATIONS 55,000
    CONSERVATION FUND
    PO BOX 3585
    DULUTH,MN55803     		NONE   OPERATIONS 20,000
    COPPER COUNTRY AUDUBON SOCIETY
    PO BOX 124
    HOUGHTON,MI49931     		NONE   OPERATIONS 6,000
    COPPER COUNTRY CHAPTER OF TROUT UNLIMITED
    907 DONMAR DRIVE
    HOUGHTON,MI49931     		NONE   OPERATIONS 6,000
    COPPER COUNTRY HISTORY MUSEUM
    534 ISLE ROYALE STREET
    LAURIUM,MI49913     		NONE   OPERATIONS 2,000
    COPPER HARBOR TRAILS CLUB
    PO BOX 37
    COPPER HARBOR,MI49918     		NONE   OPERATIONS 5,000
    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   OPERATIONS 4,000
    DESERT DOVE FARM
    PO BOX 31615
    TUCSON,AZ85751     		NONE   OPERATIONS 5,000
    DODGE COUNTY HISTORICAL SOCIETY
    PO BOX 456 615 MAIN ST
    MANTORVILLE,MN559550456     		NONE   OPERATIONS 1,000
    EARTH WORKS
    1612 K ST NW SUITE 808
    WASHINGTON,DC20006     		NONE   OPERATIONS 20,000
    EARTHJUSTICE
    705 SECOND AVENUE SUITE 203
    SEATTLE,WA98104     		NONE   OPERATIONS 55,000
    EL RIO FOUNDATION
    839 W CONGRESS
    TUCSON,AZ85745     		NONE   OPERATIONS 31,000
    ELECTRONIC FRONTIER FOUNDATION
    815 EDDY STREET
    SAN FRANCISCO,CA94109     		NONE   OPERATIONS 33,000
    ENGLISH LEARNING CENTER
    2315 CHICAGO AVE S
    MINNEAPOLIS,MN55405     		NONE   OPERATIONS 12,000
    ENVIRONMENTAL PAPER NETWORK
    16 EAGLE STREET STE 200
    ASHEVILLE,NC28801     		NONE   OPERATIONS 10,000
    FAMILY CARE FOUNDATION
    PO BOX 1039
    SPRING VALLEY,CA91979     		NONE   OPERATIONS 64,000
    FAMILY PLANNING ASSOCIATION ME
    43 GABRIEL DRIVE PO BOX 587
    AUGUSTA,ME043320587     		NONE   OPERATIONS 12,000
    FEED MY STARVING CHILDREN
    401 93RD AVE NW
    COON RAPIDS,MN55433     		NONE   OPERATIONS 80,000
    FLORIDA KEYS WILDLIFE RESCUE INC
    1388 AVE B
    BIG PINE KEY,FL33043     		NONE   OPERATIONS 8,000
    FREEBORN COUNTY HUMANE SOCIETY
    101 JAMES AVENUE
    ALBERT LEA,MN56007     		NONE   OPERATIONS 15,000
    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 10,000
    FRIENDS OF CAVE CREEK CANYON
    PO BOX 16126
    PORTAL,AZ85362     		NONE   OPERATIONS 10,000
    FRIENDS OF SAX-ZIMM BOG
    2515 GARTHUS ROAD
    WRENSHALL,MN55797     		NONE   OPERATIONS 52,000
    FRIENDS OF THE MISSISSIPPI
    360 N ROBERT ST STE 400
    ST PAUL,MN55101     		NONE   OPERATIONS 27,000
    FRIENDS OF THE WILD FLOWER GARDEN
    PO BOX 3793
    MINNEAPOLIS,MN55403     		NONE   OPERATIONS 1,000
    GLEN CANYON INSTITUTE
    429 EAST 100 SOUTH
    SALT LAKE CITY,UT84111     		NONE   OPERATIONS 36,000
    GOOD SAMARITAN SOCIETY ALBERT LEA
    75507 240TH STREET
    ALBERT LEA,MN56007     		NONE   OPERATIONS 30,000
    GRANDPARENTS AS PARENTS INC
    22048 SHERMAN WAY 217
    CANOGA PARK,CA91303     		NONE   OPERATIONS 9,000
    GRATIOT LAKE CONSERVANCY
    PO BOX 310
    MOHAWK,MI49950     		NONE   OPERATIONS 8,000
    GREENPEACE
    702 H STREET NW SUITE 300
    WASHINGTON,DC20001     		NONE   OPERATIONS 10,000
    GREYHOUND RESCUE OF IDAHO
    146 N MIDDLETON ROAD PMB 125
    NAMPA,ID83651     		NONE   OPERATIONS 3,000
    HARMONY AND HOPE HORSE HAVEN (HHHH)
    PO BOX 173
    RODEO,NM88056     		NONE   OPERATIONS 5,000
    HEARTGIFT LOUISIANA
    5500 PRYTANIA 306
    NEW ORLEANS,LA70461     		NONE   OPERATIONS 10,000
    HERITAGE RADIO SOCIETY INC
    219 COUSINS ST
    YARMOUTH,ME04096     		NONE   OPERATIONS 3,000
    HOUGHTON COUNTY HISTORICAL SOCIETY
    53150 HWY M-26
    LAKE LINDON,MI49945     		NONE   OPERATIONS 3,000
    HUMANE FARMING ASSOCIATION
    PO BOX 3577
    SAN RAFAEL,CA94912     		NONE   OPERATIONS 55,000
    HUMANE SOCIETY OF SOUTHERN ARIZONA
    3450 N KELVIN BLVD
    TUCSON,AZ85716     		NONE   OPERATIONS 5,000
    HUMANE SOCIETY OF THE UNITED STATES
    700 PROFESSIONAL DRIVE
    GAITHERSBURG,MD20879     		NONE   OPERATIONS 50,000
    HUMANE SOCIETY OF THE UNITED STATES
    700 PROFESSIONAL DRIVE
    GAITHERSBURG,MD20879     		NONE   OPERATIONS 5,000
    IDAHO BOTANICAL GARDENS
    2355 OLD PENITENTIARY ROAD
    BOISE,ID83712     		NONE   OPERATIONS 10,000
    IDAHO FOODBANK WAREHOUSE
    3562 SOUTH TK AVENUE
    BOISE,ID83705     		NONE   OPERATIONS 10,000
    IDAHO YOUTH RANCH
    5465 WEST IRVING STREET
    BOISE,ID83706     		NONE   OPERATIONS 25,000
    INSTITUTE OF RANGE AND AMERICAN MUSTANG
    PO BOX 998
    HOT SPRINGS,SD57747     		NONE   OPERATIONS 4,000
    INTERCULTURAL CENTER FOR STUDY OF DESERTS & OCEANS
    PO BOX 44208
    TUCSON,AZ85733     		NONE   OPERATIONS 3,000
    INTERNATIONAL OWL CENTER
    126 E CEDAR ST PO BOX 536
    HOUSTON,MN55943     		NONE   OPERATIONS 1,000
    IZAAK WALTON LEAGUE OF AMERICA MINNESOTA DIVISION
    2233 UNIVERSITY AVE W STE 339
    ST PAUL,MN55114     		NONE   OPERATIONS 7,000
    JEWELED HEART
    1278 TRUMBLE CREEK RD
    KALISPELL,MT59901     		NONE   OPERATIONS 4,000
    KATIE'S KROPS
    PO BOX 1841
    SUMMERVILLE,SC29484     		NONE   OPERATIONS 10,000
    KBEM RADIO
    1555 JAMES AVENUE N
    MINNEAPOLIS,MN55411     		NONE   OPERATIONS 2,000
    KEWEENAW COMMUNITY FOREST COMPANY
    13992 SMITH FISHERIES ROAD
    MOHAWK,MI49950     		NONE   OPERATIONS 80,000
    KEWEENAW COMMUNITY FOREST COMPANY
    13992 SMITH FISHERIES ROAD
    MOHAWK,MI49950     		NONE   OPERATIONS 1,000,000
    KEWEENAW COUNTY HISTORICAL SOCIETY
    670 LIGHTHOUSE ROAD
    EAGLE HARBOR,MI49950     		NONE   OPERATIONS 8,000
    KEWEENAW LAND TRUST
    801 NORTH LINCOLN DR STE 306
    HANCOCK,MI49930     		NONE   OPERATIONS 30,000
    LIFE'S KITCHEN
    1025 S CAPITOL BLVD STE 106
    BOISE,ID83706     		NONE   OPERATIONS 10,000
    LISTENING POINT FOUNDATION
    PO BOX 180
    ELY,MN55731     		NONE   OPERATIONS 5,000
    LIVE THEATER WORKSHOP
    5317 SPEEDWAY BLVD
    TUCSON,AZ85712     		NONE   OPERATIONS 8,000
    MAINE PBS
    1450 LISBON STREET
    LEWISTON,ME04240     		NONE   OPERATIONS 7,000
    MAKE OLD THINGS NEW
    2120 MINNEHAHA AVE S
    MINNEAPOLIS,MN55404     		NONE   OPERATIONS 2,000
    MCPAWS REGIONAL ANIMAL SHELTER
    PO BOX 1375
    MCCALL,ID83638     		NONE   OPERATIONS 10,000
    MICHIGAN NATURE ASSOCIATION
    326 E GRAND RIVER AVENUE
    WILLIAMSTON,MI48895     		NONE   OPERATIONS 5,000
    MINNEAPOLIS RECREATIONAL DEVELOPMENT
    7220 YORK AVENUE S 610
    EDINA,MN55435     		NONE   OPERATIONS 27,000
    MINNESOTA CENTER FOR ENVIRONMENTAL ADVOCACY
    26 E EXCHANGE ST STE 206
    ST PAUL,MN55101     		NONE   OPERATIONS 5,000
    MINNESOTA COUNCIL ON ECONOMIC EDUCATION
    DEPT OF APPLIED ECON 1994 BUFORD
    AVE
    ST PAUL,MN55108     		NONE   OPERATIONS 10,000
    MINNESOTA NEPALIS
    207 1ST AVE SE
    NEW BRIGHTON,MN55112     		NONE   DISASTER RELIEF 8,000
    MINNESOTA ZOO
    13000 ZOO BOULEVARD
    APPLE VALLEY,MN55124     		NONE   OPERATIONS 5,000
    MOBILE MEALS OF TUCSON
    4803 EAST 5TH STREET 209
    TUCSON,AZ85711     		NONE   OPERATIONS 11,000
    NATIONAL PARKS CONSERVATION ASSOCIATION
    546 RICE STREE
    ST PAUL,MN55101     		NONE   OPERATIONS 4,000
    NATIONAL STUTTERING ASSOCIATION
    119 W 40TH STREET 14TH FL
    NEW YORK,NY10018     		NONE   OPERATIONS 5,000
    NATURAL RESOURCES DEFENSE COUNCIL NRDC
    40 W 20TH ST
    NEW YORK,NY10011     		NONE   OPERATIONS 71,000
    NATURE CONSERVANCY ARIZONA
    1510 E FT LOWELL ROAD
    TUCSON,AZ85719     		NONE   OPERATIONS 10,000
    NATURE CONSERVANCY ARIZONA
    1510 E FT LOWELL ROAD
    TUCSON,AZ85719     		NONE   OPERATIONS 4,000
    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   OPERATIONS 6,000
    NATURE CONSERVANCY IDAHO
    116 FIRST AVENUE NORTH
    HAILEY,ID08333     		NONE   OPERATIONS 21,000
    NATURE CONSERVANCY MAINE
    14 MAINE ST STE 401
    BRUNSWICK,ME04011     		NONE   SOMERSET COUNTY NUMBER 6 MOUNTAIN ACQUISITION 6,141,925
    NATURE CONSERVANCY MAINE
    14 MAINE ST STE 401
    BRUNSWICK,ME04011     		NONE   BAKER MOUNTAIN ACQUISITION 1,795,000
    NATURE CONSERVANCY MAINE
    14 MAINE ST STE 401
    BRUNSWICK,ME04011     		NONE   OPERATIONS 12,000
    NATURE CONSERVANCY MICHIGAN
    101 E GRAND RIVER
    LANSING,MI48912     		NONE   OPERATIONS 25,000
    NATURE CONSERVANCY MINNESOTA
    1101 WEST RIVER PKWY STE 200
    MINNEAPOLIS,MN55415     		NONE   OPERATIONS 22,000
    NATURE CONSERVANCY UTAH
    559 EAST SOUTH TEMPLE
    SALT LAKE CITY,UT84102     		NONE   OPERATIONS 6,000
    NEPAL SOCIAL SERVICE FUND
    77461 297TH STREET
    CLARKS GROVE,MN56016     		NONE   OPERATIONS 20,000
    NEWBORNS IN NEED
    3619 LYNDALE AVENUE SOUTH
    MINNEAPOLIS,MN55409     		NONE   OPERATIONS 2,000
    NORTHEAST WILDERNESS TRUST
    17 STATE STREET SUITE 302
    MONTPELIER,VT05602     		NONE   OPERATIONS 15,000
    NORWEGIAN LUTHERAN CHURCH HISTORICAL SOCIETY
    608 ELM ST
    CALUMET,MI49913     		NONE   OPERATIONS 5,000
    OLD PUEBLO TROLLEY
    3736 N TUCSON BLVD
    TUCSON,AZ857161030     		NONE   OPERATIONS 6,000
    ONEGENERATION
    17400 VICTORY BLVD
    VAN NUYS,CA91406     		NONE   OPERATIONS 4,000
    PAINSDALE MINE & SHAFT
    PO BOX 332
    PAINSDALE,MI49955     		NONE   OPERATIONS 5,000
    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   OPERATIONS 30,000
    PLANNED PARENTHOOD MNSD
    671 VANDALIA STREET 323
    ST PAUL,MN55114     		NONE   OPERATIONS 5,000
    PLANNED PARENTHOOD OF IDAHO
    2001 E MADISON STREET
    SEATTLE,WA98122     		NONE   OPERATIONS 20,000
    POPULATION CONNECTION
    2120 L STREET NW STE 500
    WASHINGTON,DC20037     		NONE   OPERATIONS 5,000
    POPULATION MEDIA CENTER
    30 KIMBALL AVENUE SUITE 302
    SOUTH BURLINGTON,VT05403     		NONE   OPERATIONS 15,000
    PORTAGE HEALTH
    400 QUINCY STREET PO BOX 299
    HANCOCK,MI49930     		NONE   OPERATIONS 5,000
    PRESERVATION ALLIANCE OF MINNESOTA
    416 LANDMARK CENTER 75 W 5TH STREET
    ST PAUL,MN55102     		NONE   OPERATIONS 7,000
    PRO CHOICE RESOURCES
    528 HENNEPIN AVE SUITE 600
    MINNEAPOLIS,MN55403     		NONE   OPERATIONS 8,000
    PROGRESS CENTER OF MAINE
    35 COTTAGE STREET
    NORWAY,ME04268     		NONE   OPERATIONS 5,000
    RIVERLAND COMMUNITY COLLEGE SCHOLARSHIP
    1900 8TH AVENUE NW
    AUSTIN,MN55912     		NONE   SCHOLARSHIPS 7,500
    RIVERLAND COMMUNITY COLLEGE FOUNDATION
    1900 8TH AVENUE NW
    AUSTIN,MN55912     		NONE   OPERATIONS 15,000
    RUFF START RESCUE
    PO BOX 129
    PRINCETON,MN553710129     		NONE   OPERATIONS 6,000
    SAFE PASSAGE
    43 CENTER STREET
    NORTHAMPTON,MA01060     		NONE   OPERATIONS 5,000
    SALVATION ARMY OF NORTHERN NEW ENGLAND
    PO BOX 3647
    PORTLAND,ME04101     		NONE   OPERATIONS 25,000
    SAVE THE SCENIC SANTA RITAS
    8987 E TANQUE VERDE 309-157
    TUCSON,AZ85749     		NONE   OPERATIONS 70,000
    SEARCHNATIVE SEEDS
    3584 E RIVER ROAD
    TUCSON,AZ85718     		NONE   OPERATIONS 17,000
    SIERRA CLUB FOUNDATION
    2327 E FRANKLIN AVE 1
    MINNEAPOLIS,MN55406     		NONE   OPERATIONS 5,000
    SIMPLY CATS ADOPTION CENTER
    2833 S VICTORY VIEW WAY
    BOISE,ID83709     		NONE   OPERATIONS 9,000
    SMALL SUMSAT HOME GROUP
    1222 UNIVERSITY AVENUE WEST
    SAINT PAUL,MN55104     		NONE   OPERATIONS 10,000
    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 19,000
    ST ANDREWS CLINIC
    PO BOX 67
    GREEN VALLEY,AZ85622     		NONE   OPERATIONS 19,000
    STOP PREDATORY GAMBLING
    100 MARYLAND AVE NE ROOM 310
    WASHINGTON,DC20002     		NONE   OPERATIONS 5,000
    SUSTAINABLE ELY
    PO BOX 625
    ELY,MN000055731     		NONE   OPERATIONS 5,000
    TEDFORD HOUSING
    PO BOX 958 14 MIDDLE STREET
    BRUNSWICK,ME04011     		NONE   OPERATIONS 5,000
    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 10,000
    TREETRUST
    2231 EDGEWOOD AVE SOUTH
    ST LOUIS PARK,MN55426     		NONE   OPERATIONS 5,000
    TRUST FOR PUBLIC LAND
    2610 UNIVERSITY AVE WEST STE 300
    ST PAUL,MN55114     		NONE   OPERATIONS 10,000
    TRUTHOUT
    PO BOX 276414
    SACREMENTO,CA95827     		NONE   OPERATIONS 5,000
    U OF IDAHO MCCALL OUTDOOR SCIENCE SCHOOL
    PO BOX 1025
    MCCALL,ID83638     		NONE   OPERATIONS 10,000
    UM CVM COLLEGE SCHOLARSHIP FUND
    1365 GORTNER AVE 459
    ST PAUL,MN55108     		NONE   OPERATIONS 15,000
    UNION FOR CONCERNED SCIENTISTS
    TWO BRATTLE SQUARE
    CAMBRIDGE,MA02138     		NONE   OPERATIONS 15,000
    VIETNAMESE SOCIAL SERVICES MN
    277 UNIVERSITY AVENUE W
    ST PAUL,MN55103     		NONE   OPERATIONS 3,000
    VISION LOSS RESOURCES
    1936 LYNDALE AVENUE SOUTH
    MINNEAPOLIS,MN55403     		NONE   OPERATIONS 2,000
    WARM BLANKETS
    5105 TOLLVIEW DR 155
    ROLLING MEADOWS,IL60008     		NONE   OPERATIONS 53,000
    WEST AFRICA VILLAGE AND ENVIRONMENTAL PROJECT
    PO BOX 1241
    PRIOR LAKE,MN55372     		NONE   OPERATIONS 8,000
    WEST VALLEY HUMANE SOCIETY (CANYON COUNTY ANIMAL SHELTER)
    5801 GRAYE LANE
    CALDWELL,ID83607     		NONE   OPERATIONS 20,000
    WESTERN WATERSHED PROJECT
    PO BOX 1770
    HAILEY,ID83333     		NONE   OPERATIONS 5,000
    WHOLE LEARNING SCHOOL
    9400 CEDAR LAKE ROAD
    MINNEAPOLIS,MN55426     		NONE   OPERATIONS 25,000
    WILDEARTH GUARDIANS
    516 ALTO STREET
    SANTA FE,NM87501     		NONE   OPERATIONS 15,000
    WILDERNESS SCIENCE EDUCATION
    PO BOX 3174
    MCCALL,ID83638     		NONE   OPERATIONS 10,000
    WILDERNESS SOCIETY
    1615 M STREET NW
    WASHINGOTON,DC20036     		NONE   OPERATIONS 10,000
    WISH GRANTORS
    1365 N ORCHARD 252
    BOISE,ID83706     		NONE   OPERATIONS 5,000
    WOLF RIDGE ENVIRONMENTAL LEARNING CENTER
    6282 CRANBERRY ROAD
    FINLAND,MN556039700     		NONE   OPERATIONS 10,000
    WORLD FOOD PROGRAM
    1725 I STREET SUITE 510
    WASHINGTON,DC20006     		NONE   OPERATIONS 20,000
    WORLD WATCH
    1400 16TH STREET NW SUITE 430
    WASHINGTON,DC20036     		NONE   OPERATIONS 9,000
    BLOOMINGTON BOOSTERSKENNEDY HOCKEY
    9705 HUMBOLDT AVE SOUTH
    BLOOMINGTON,MN55431     		NONE   OPERATIONS 300
    Total .................................bullet 3a 11,434,725
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    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....     14 348,931  
    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.....     14 679,650  
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 -3,027,062  
    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 -1,998,481 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13-1,998,481
    (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 (2015)
    Form 990-PF (2015)
    Page 13
    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 organizations?
    Yes
    No
    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) 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 name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2015)
    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
    2015
    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) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015) 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

    		$ 1,000,000


    (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) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    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) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Page 4
    Name of organization
    STEVEN C LEUTHOLD FAMILY FOUNDATION
          		Employer identification number

    41-1680986
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. 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) (2015)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2015 AccountingFeesSchedule
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN:
    41-1680986
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 9,050 0   9,050

    TY 2015 AllOthProgRltdInvestmentsSch
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN:
    41-1680986
    Category Amount
    N/A 0

    TY 2015 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 18,393,094 17,385,248

    TY 2015 LegalFeesSchedule
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN:
    41-1680986
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL 42,001 0   42,001


    TY 2015 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 1,469 0   0
    BANK FEES 30 0   0


    TY 2015 OtherIncomeSchedule2
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN:
    41-1680986
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PORTFOLIO INCOME 617,314 617,314 617,314
    MISCELLANEOUS INCOME 62,336 62,336 62,336


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN:
    41-1680986
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MANAGEMENT FEES 174,990 74,645   100,345
    PORTFOLIO DEDUCTIONS 46,851 46,851   0


    TY 2015 TaxesSchedule
    Name:
    STEVEN C LEUTHOLD FAMILY FOUNDATION
    EIN:
    41-1680986
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 15,823 15,823   0