TY 2015 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Information 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
THE SCHULTZ FOUNDATION INC

Number and street (or P.O. box number if mail is not delivered to street address)118 WEST ADAMS STREET
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
JACKSONVILLE, FL32202

A Employer identification number

59-1055869

B Telephone number (see instructions)

(904) 354-3603

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$3,506,255J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check Sch. B .............
3	Interest on savings and temporary cash investments	24,949		24,949	24,949
4	Dividends and interest from securities...	42,023		41,999	42,023
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		204,634
b	Gross sales price for all assets on line 6a 3,716,828
7	Capital gain net income (from Part IV, line 2)...
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).......		7,120	7,120	7,120
12	Total. Add lines 1 through 11........	278,726		74,068	74,092
13	Compensation of officers, directors, trustees, etc.	27,750
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		12,779	12,779
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		61
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		77,931	77,931
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	118,521		90,710		0
25	Contributions, gifts, grants paid.......	158,831				158,831
26	Total expenses and disbursements. Add lines 24 and 25	277,352		90,710		158,831
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	1,374
b	Net investment income (if negative, enter -0-)			0
c	Adjusted net income (if negative, enter -0-)...				74,092

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2015)

Form 990-PF (2015)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	17,076	9,772	9,772
	2	Savings and temporary cash investments.........	109,669	78,429	78,429
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	515,841	442,175	426,983
	b	Investments—corporate stock (attach schedule).......	1,787,918	2,025,585	2,300,316
	c	Investments—corporate bonds (attach schedule).......	690,514	580,648	577,001
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	124,932	113,754	113,754
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	3,245,950	3,250,363	3,506,255
	17	Accounts payable and accrued expenses..........		573
	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 )
	23	Total liabilities (add lines 17 through 22).........		573
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................	3,245,950	3,249,790
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see instructions).....	3,245,950	3,249,790
	31	Total liabilities and net assets/fund balances (see instructions).	3,245,950	3,250,363

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

3,245,950

Enter amount from Part I, line 27a .....................

1,374

Other increases not included in line 2 (itemize) bullet

2,466

Add lines 1, 2, and 3 ..........................

3,249,790

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .

3,249,790

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.)
1a
b
c
d
e

(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
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69
(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
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2
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 ...................		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? Yes No

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	183,711	3,724,603	0.049324
2013	145,118	3,523,450	0.041186
2012	184,390	3,307,691	0.055746
2011	133,756	3,153,891	0.042410
2010	146,536	3,046,905	0.048093

Total of line 1, column (d) .....................

20.236759

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 . . .

0.047352

Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....

3,616,595

Multiply line 4 by line 3......................

171,253

Enter 1% of net investment income (1% of Part I, line 27b)...........

Add lines 5 and 6........................

171,253

Enter qualifying distributions from Part XII, line 4.............

158,831

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)

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	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	0
	hereand 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
3	Add lines 1 and 2...........................	3
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a	907
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	907
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	907
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax907	Refunded	11

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions

for definition)?.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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.............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2015)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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) .............

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).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

JOHN R SCHULTZ Telephone no. bullet

(904) 354-3603

Located at bullet

118 WEST ADAMS STREETSUITE 600JACKSONVILLEFL ZIP+4 bullet

32202

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here....... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?...............YesNo

(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.).......YesNo

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)? ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

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?.............

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)):

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?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

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.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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?

Form 990-PF (2015)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (Continued)

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))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? (see instructions)................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

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)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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-)
JOHN R SCHULTZ	SECRETARY TR 15.00	21,750
118 WEST ADAMS STREET JACKSONVILLE,FL32202	SECRETARY TR 15.00	21,750
NANCY R SCHULTZ	DIRECTOR 2.00	0
118 WEST ADAMS STREET JACKSONVILLE,FL32202	DIRECTOR 2.00	0
CLIFFORD G SCHULTZ	PRESIDENT 5.00	6,000
118 WEST ADAMS STREET JACKSONVILLE,FL32202	PRESIDENT 5.00	6,000
FREDERICK H SCHULTZ JR	VICE-PRESIDE 2.00	0
118 W ADAMS ST STE 600 JACKSONVILLE,FL32202	VICE-PRESIDE 2.00	0
CATHERINE MCFARLAND	DIRECTOR 2.00	0
118 W ADAMS ST STE 600 JACKSONVILLE,FL32202	DIRECTOR 2.00	0

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...................

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............. bullet

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	N/A
2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2015)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

3,428,997

Average of monthly cash balances.......................

128,919

Fair market value of all other assets (see instructions)................

113,754

Total (add lines 1a, b, and c).........................

3,671,670

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

3,671,670

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

55,075

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

3,616,595

Minimum investment return. Enter 5% of line 5..................

180,830

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

180,830

Tax on investment income for 2015 from Part VI, line 5......

Income tax for 2015. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

Distributable amount before adjustments. Subtract line 2c from line 1............

180,830

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

180,830

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

180,830

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

158,831

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

158,831

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).................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

158,831

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)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(d) 2015
1 Distributable amount for 2015 from Part XI, line 7			180,830
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2015:
a From 2010......
b From 2011......
c From 2012......	20,124
d From 2013......
e From 2014......
fTotal of lines 3a through e........		20,124
4Qualifying distributions for 2015 from Part
XII, line 4: $ 158,831
a Applied to 2014, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2015 distributable amount.....			158,831
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2015.		20,124	20,124
(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
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
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......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2014. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2016. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........			1,875
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) .......
8Excess distributions carryover from 2010 not applied on line 5 or line 7 (see instructions) ...
9Excess distributions carryover to 2016. Subtract lines 7 and 8 from line 6a ......
10 Analysis of line 9:
a Excess from 2011....
b Excess from 2012....
c Excess from 2013....
d Excess from 2014....
e Excess from 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 section4942(j)(3) or4942(j)(5)

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	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
SEE ATTACHED STATEMENT 118 WEST ADAMSSTREET SUITE 600 JACKSONVILLE,FL32202			EDUCATIONAL/PUBLIC	158,831
Total ................................. 3a				158,831

bApproved for future payment

Total ................................. 3b

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	(e) Related or exempt function income (See instructions.)
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 ...........			14	24,949
4 Dividends and interest from securities....			14	42,023
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.....			15	7,120
8 Gain or (loss) from sales of assets other than inventory ............					204,634
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)..				74,092	204,634

13Total. Add line 12, columns (b), (d), and (e)..................

13278,726

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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?...........YesNo

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.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2015)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2015 AccountingFeesSchedule

Name:

THE SCHULTZ FOUNDATION INC

EIN:

59-1055869

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL & ACCOUNTING	12,779	12,779

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2015 GainLossSaleOtherAssetsSch

Name:

THE SCHULTZ FOUNDATION INC

EIN:

59-1055869

Name	Date Acquired	How Acquired	Date Sold	Gross Sales Price	Basis	Total (net)
SEE ATT. STATEMENTS MERRILL LYNCH		PURCHASE		1,714,106	1,752,029	-37,923
SEE ATT. STATEMENTS MERRILL LYNCH	2014-05	PURCHASE	2015-03	80,649	79,896	753
SEE ATT. STATEMENTS MERRILL LYNCH	2014-01	PURCHASE	2015-12	975,070	720,606	254,464
SEE ATT. STATEMENTS MERRILL LYNCH	2013-11	PURCHASE		150,826	135,045	15,781
LAZARD LTD	2014-04	PURCHASE	2015-03	12,983	11,956	1,027
SEE ATT. STATEMENTS U.S.TRUST		PURCHASE		491,562	511,399	-19,837
SEE ATT STATEMENTS U.S. TRUST	2014-01	PURCHASE		279,789	289,488	-9,699
FEDERAL NATL MTG ASSN	2014-01	PURCHASE		1,948	1,948
UNITED STATES TREAS NT	2014-01	PURCHASE		9,895	9,827	68

- TIN:

TY 2015 InvestmentsCorpBondsSchedule

Name:

THE SCHULTZ FOUNDATION INC

EIN:

59-1055869

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AMERICAN EXPRESS BK FSB	9,930	9,939
AFLAC	20,333	20,705
AGILENT TECHNOLOGIES	4,900	4,875
AT&T INC	9,970	9,611
APPLE INC	9,992	10,359
BANK OF NEW YORK MELLON
BANK OF AMERICA CORP
BIOGEN IDEC PHARMACEUTIC	9,976	10,045
BIOGEN IDEC PHARMACEUTIC	50,304	49,294
BROADCOM CORP
BRANCH BANKING & TRUST	19,468	19,904
CAPITAL ONE BK USA	9,998	9,956
CELGENE CORP	10,181	10,261
CITIGROUP INC	49,870	49,577
CISCO SYSTEMS	10,026	10,086
CONOCOPHILLIPS
CHURCH & DWIGHT
CME GROUP INC	9,981	9,811
DANAHER CORP
FIDELITY NATIONAL INFORM
FLORIDA PWR & LT CO	9,880	9,887
GENERAL ELECTRIC CAP CORP
GENERAL ELECTRIC CAP CORP
GENERAL ELECTRIC CAP CORP	35,042	34,464
GELGENE
GEORGIA PWR CO	9,849	9,820
GOLDMAN SACHS GROUP INC	10,000	10,089
GOLDMAN SACHS GROUP INC
HUNTINGTON NATL BK	9,972	9,870
INTERCONTINENTALEXCHANGE	19,978	19,995
INTEL CORP
JP MORGAN CHASE	9,875	9,962
JP MORGAN CHASE	20,226	20,089
KEY BANK
LEGG MASON	30,217	29,509
KEYBANK NATL ASSN CLEVELAND	19,809	19,776
MASTERCARD INC	10,481	10,219
METLIFE INC	11,076	10,737
MORGAN STANLEY	9,945	10,243
MORGAN STANLEY
MORGAN STANLEY
MOSAIC	10,115	9,904
MFRS & TRADERS TR CO	19,983	19,642
NOTHERN STS PWR CO	9,878	9,747
PRINCIPAL LIFE INC	19,506	19,971
PROCTER & GAMBLE CO
QUALCOMM INC	9,819	9,592
ROSS STORES INC	10,220	9,843
STARBUCKS CORP	10,603	10,610
STATE STREET CORP	9,878	9,923
SCHWAB CHARLES CORP	9,958	9,835
U.S. BANK NA
U.S. BANK NA
VALERO ENERGY CORP	19,942	18,864
VF CORP
WELLS FARGO BANK NA	19,467	19,987

- TIN:

TY 2015 InvestmentsCorpStockSchedule

Name:

THE SCHULTZ FOUNDATION INC

EIN:

59-1055869

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABS	28,615	36,153
ABBVIE INC SHS	10,311	16,291
AFLAC INC.
ALON USA ENERGY INC	15,041	13,504
ALLSCRIPTS-MISYS HEALTHCARE	8,014	8,305
AMEDISYS INC	7,822	7,471
AMGEN INC COM PV 0.0001
APPLE COMPUTER	66,091	88,418
AT&T	22,979	22,367
AUTOZONE INC	41,297	59,353
AVERY DENNISON CORP
BROADRIDGE FNL SOLUTIONS INC	10,491	9,671
BLACKBAUD INC	7,918	7,903
BLACKHAWK NETWORK HLDGS INC	14,335	17,242
BAXTER INTERNATIONAL INC.
BB&T CORPORATION	23,083	23,631
BRISTOL-MYERS SQUIBB CO.	14,338	29,236
CIENA CORP	6,085	5,173
CALMAINE FOODS INC	24,299	19,926
CARDINAL HEALTH	16,357	17,854
CASCADE MICROTECH INC	17,730	18,363
CISCO SYSTEMS INC	18,685	21,045
COOPER TIRE & RUBR CO	31,746	31,037
COOPER STD HLDGS INC	8,323	8,535
COCA COLA CO	21,224	21,480
COMCAST CORP NEW CL A	34,233	42,323
CONOCOPHILLIPS	14,613	11,673
CHEMED CORP	15,852	16,487
CHURCHILL DOWNS INC	24,368	25,468
COMFORT SYS USA INC	23,597	23,020
CORE - MARK HLDG CO	22,640	28,679
CSG SYS INTL INC	29,960	34,181
CVS CAREMARK CORP.	20,866	44,974
DANAHER CORP DEL COM	38,555	66,874
DIRECT TV INC.
DOLLAR TREE INC	40,965	40,927
DOW CHEMICAL CO	22,604	24,453
DR PEPPER SNAPPLE GROUP
EXPRESS SCRIPTS HLDG CO	50,475	49,824
EMC CPRPORATION MASS	59,442	58,037
ECOLAB INC	28,646	48,040
EPAM SYS INC	12,762	11,793
EURONET WORLDWIDE INC	13,282	12,313
EXPEDITORS INTL WASHINGTON	33,370	30,668
EMERGENT BIOSOLUTIONS INC	11,982	12,803
EPLUS INC	6,205	6,528
EXXON MOBIL CORP COM	15,404	12,472
FORD MOTOR CO	18,186	16,556
FCB FINL HLDGS INC	28,955	31,495
FREEPORT-MCMORAN
GALLAGHER ARTHUR J&CO	22,816	21,494
GLOBAL BRASS & COPPER HLDGS INC	18,664	17,253
GENERAL ELECTRIC	14,736	21,026
HALYARD HEALTH INC
HEARTLAND PMT SYS	19,697	36,032
HOLLYFRONTIER CORP	12,909	10,970
HONEYWELL INTL INC DEL	14,164	23,303
INTEL CORP	17,791	26,699
INTERNATIONAL PAPER CO	6,718	4,713
ICU MED INC	16,755	16,917
JETBLUE AWYS CORP	21,894	22,877
INC RESEARCH HLDGS INC	20,832	24,255
INNOSPEC INC	21,027	23,896
JOHNSON & JOHNSON COM	14,308	20,544
JPMORGAN CHASE & CO	18,203	28,063
KIMBERLY CLARK
KLA TENCOR
KROGER CO	19,241	38,484
LABORATORY CORP AMER HLDG	41,507	42,038
LAZBOY INC	18,274	16,361
LINEAR TECHNOLOGY CORP	16,402	14,865
LHC GROUP INC	12,689	13,587
MASTERCARD INC	17,680	28,234
MCDONALDS CORP COM	19,196	23,628
MCCORMICK & CO INC	39,241	39,358
METALDYNE PERFORMANCE GROUP	9,201	7,886
MICROSEMI CORP	18,880	16,295
MORNINGSTAR INC	11,860	11,257
MICROSOFT CORP	15,932	29,127
OMNICOM GROUP COM	20,159	24,590
ORACLE CORP	45,335	39,452
PATRICK INDS INC	17,046	18,488
PROCTER & GAMBEL CO	15,826	13,897
PHOTRONICS INC	20,199	26,643
POOL CORP	22,918	26,657
PRAXAIR INC
QUALCOMM INC
SCHLUMBERGER LTD	14,024	13,950
SNYDERS-LANCE INC	7,354	7,546
SYNNEX CORP	24,270	24,281
STERICYCLE INC	37,693	39,798
TORO CO	31,088	32,151
TARGET CORP	20,973	19,968
TECH DATA CORP	23,005	23,897
TJX COS INC NEW COM	23,457	25,394
TRAVELERS COS INC	15,864	19,214
UNITED TECHS CORP COM
VCA INC	26,466	26,400
VERISK ANALYTICS INC	49,561	53,047
VIRGIN AMER INC	36,300	38,156
VERIZON COMMUNICATIONS	85,133	81,347
WAL-MART STORES INC
WALGREENS CO	6,188	14,902
3M CO	20,363	18,830

- TIN:

TY 2015 InvestmentsGovtObligationsSch

Name:

THE SCHULTZ FOUNDATION INC

EIN:

59-1055869

US Government Securities - End of Year Book Value:

442,175

US Government Securities - End of Year Fair Market Value:

426,983

State & Local Government Securities - End of Year Book Value:

State & Local Government Securities - End of Year Fair Market Value:

- TIN:

TY 2015 InvestmentsOtherSchedule2

Name:

THE SCHULTZ FOUNDATION INC

EIN:

59-1055869

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
INVESTMENT IN CALEDONIAN ENERGY PAR	AT COST	92,233	92,233
INVESTMENT IN LAZARD, LTD	AT COST	21,521	21,521

- TIN:

TY 2015 OtherExpensesSchedule

Name:

THE SCHULTZ FOUNDATION INC

EIN:

59-1055869

Description	Revenue and Expenses per Books	Net Investment Income
EXPENSES
BANK CHARGES	5,833	5,833
INVESTMENT MANAGEMENT FEES	25,011	25,011
ADMINISTRATIVE COST	46,800	46,800
OTHER EXPENSES	287	287

- TIN:

TY 2015 OtherIncomeSchedule2

Name:

THE SCHULTZ FOUNDATION INC

EIN:

59-1055869

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
CALEDONIAN ENERGY AUCTION PAR	7,120	7,120	7,120

- TIN:

TY 2015 OtherIncreasesSchedule

Name:

THE SCHULTZ FOUNDATION INC

EIN:

59-1055869

Description	Amount
PRIOR PERIOD ADJUSTMENT	2,466

- TIN:

TY 2015 TaxesSchedule

Name:

THE SCHULTZ FOUNDATION INC

EIN:

59-1055869

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ANNUAL REPORT	61