Form990-PF
Click to see attachment

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.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
ELSA M HEISEL SULE CHARITABLE TRUST 2005
 
Number and street (or P.O. box number if mail is not delivered to street address)334 BEECHWOOD RD 550
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
FT MITCHELL, KY41017
A Employer identification number

20-7277661
B Telephone number (see instructions)

(859) 344-9966
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... 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$24,205,298J 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) 835
2 Check bullet.............
3 Interest on savings and temporary cash investments 14,344 14,344  
4 Dividends and interest from securities... 1,080,079 1,080,079  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -60,681
b Gross sales price for all assets on line 6a 7,401,509
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).......      
12 Total. Add lines 1 through 11........ 1,034,577 1,094,423  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 236,000 47,200   188,800
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 12,500     12,500
b Accounting fees (attach schedule)....... Click to see attachment 18,500 1,850   16,650
c Other professional fees (attach schedule).... Click to see attachment 90,000 9,000   81,000
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 28,795 28,795    
19 Depreciation (attach schedule) and depletion... Click to see attachment 432    
20 Occupancy.............. 15,989 1,599   14,390
21 Travel, conferences, and meetings....... 9,220     9,220
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 16,375 5,052   11,323
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 427,811 93,496   333,883
25 Contributions, gifts, grants paid....... 950,450 950,450
26 Total expenses and disbursements. Add lines 24 and 25 1,378,261 93,496   1,284,333
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -343,684
b Net investment income (if negative, enter -0-) 1,000,927
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
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............. -164 63,432 63,432
2 Savings and temporary cash investments......... 5,370 163,518 163,518
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.......... 15,792 11,492 11,492
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 22,278,320 Click to see attachment20,957,607 20,957,607
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).......... 2,712,176 Click to see attachment3,008,170 3,008,170
14 Land, buildings, and equipment: basis bullet1,763
Less: accumulated depreciation (attach schedule) bullet684 1,511 Click to see attachment1,079 1,079
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 25,013,005 24,205,298 24,205,298
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 25,013,005  
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 25,013,005 24,205,298
30 Total liabilities and net assets/fund balances (see instructions). 25,013,005 24,205,298
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
25,013,005
2
Enter amount from Part I, line 27a .....................
2
-343,684
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
24,669,321
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
464,023
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
24,205,298
Form 990-PF (2020)
Form 990-PF (2020)
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 .712 VIARTIS INC P 2020-09-03 2020-11-20
b 16235.060 LORD ABB ULT SHT BD F P 2020-08-13 2020-12-10
c BAIRD P 2020-01-01 2020-12-31
d 12,705.00 AT&T INC P 2009-02-10 2020-08-12
e 7,200.00 DNP SEL INCM FD INC P 2005-02-22 2020-08-12
1,300.00 EXXON MOBIL CORP P 2010-01-13 2020-12-29
7,600.00 SOUTHERN COMPANY P 2010-01-13 2020-08-12
8,500.00 VERIZON COMMNS INC P 2010-01-13 2020-08-12
BAIRD P 2020-01-01 2020-12-31
13586.00 AT&T INC P 2013-07-25 2020-09-03
5291.00 DUKE ENERGY CORP NEW P 2013-07-25 2020-09-03
2500.00 DUKE ENERGY CORP NEW P 2012-02-15 2020-11-11
6952.00 PPL CORP P 2016-08-16 2020-09-03
9416.00 SOUTHERN COMPANY P 2016-06-06 2020-09-03
8230.00 VERIZON COMMNS INC P 2014-06-11 2020-09-03
19275.00 AT&T INC P 2016-06-06 2020-08-12
11300.00 B&G FOODS INC P 2017-07-27 2020-08-10
18200.00 CENTURYLINK INC P 2011-01-04 2020-08-10
5000.00 CINCINNATI FINL CORP P 2011-01-18 2020-08-12
38550.00 DNP SEL INCM FD INC P 2012-02-10 2020-08-12
3000.00 ENBRIDGE INC P 2016-01-12 2020-08-12
13900.00 FORD MOTOR CO P 2016-08-16 2020-08-10
27800.00 NUV AMT FREE MUN CR INC P 2017-05-23 2020-08-10
37268.00 NUVEEN PFD & INCM OPPTYS P 2014-02-03 2020-08-10
7850.00 PPL CORP P 2017-02-07 2020-08-12
7000.00 SOUTHERN COMPANY P 2011-01-21 2020-08-12
(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 13   11 2
b 163,000   163,000  
c 1,187     1,187
d 385,246   339,728 45,518
e 78,412   78,467 -55
41,937   90,545 -48,608
416,404   254,739 161,665
499,110   270,725 228,385
63,180     63,180
397,570   505,525 -107,955
423,724   384,866 38,858
222,383   166,547 55,836
193,802   247,503 -53,701
490,289   481,642 8,647
493,114   425,850 67,264
584,465   792,629 -208,164
332,553   374,132 -41,579
193,488   729,727 -536,239
413,737   162,847 250,890
419,833   402,491 17,342
101,910   73,262 28,648
97,020   173,927 -76,907
449,945   413,443 36,502
330,751   360,432 -29,681
224,906   280,070 -55,164
383,530   290,082 93,448
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       2
b        
c       1,187
d       45,518
e       -55
      -48,608
      161,665
      228,385
      63,180
      -107,955
      38,858
      55,836
      -53,701
      8,647
      67,264
      -208,164
      -41,579
      -536,239
      250,890
      17,342
      28,648
      -76,907
      36,502
      -29,681
      -55,164
      93,448
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 -60,681
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 13,913
c All other domestic foundations enter 1.39% 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 13,913
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 13,913
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 21,000
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 21,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 94
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 6,993
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet   RefundedBullet 11 6,993
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 the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
    No
    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)
    bulletKY
    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 2020 or the taxable year beginning in 2020? See the 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 (2020)
    Form 990-PF (2020)
    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 ofbulletRUTH KLETTE Telephone no.bullet (859) 344-9966

    Located atbullet333 BEECHWOOD RD SUITE 550FT MITCHELLKY ZIP+4bullet41017
    15
    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
    15
     
    16 At any time during calendar year 2020, 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 the instructions for exceptions and filing requirements for FinCEN Form 114. 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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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 2020 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 2020.)..................
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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:
    Yes
    No
    (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
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    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
    RUTH KLETTE Trustee
    50.00     		236,000    
    333 BEECHWOOD RD SUITE 550
    FT MITCHELL,KY41017
    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  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    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  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    23,433,754
    b
    Average of monthly cash balances.......................
    1b
    92,912
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    23,526,666
    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
     
    3
    Subtract line 2 from line 1d.........................
    3
    23,526,666
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    352,900
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    23,173,766
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,158,688
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,158,688
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    13,913
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    13,913
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,144,775
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    1,144,775
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,144,775
    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
    1,284,333
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,284,333
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,284,333
    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 (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 1,144,775
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 420,148
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 1,284,333
    a Applied to 2019, but not more than line 2a 420,148
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 864,185
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2020.    
    (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 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		280,590
    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) .......     		 
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 2020, 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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 foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    ELSA M HEISEL SULE CHARITABLE TRUST
    250 GRANDVIEW DR
    FT MITCHELL,KY41017
    (513) 335-4798
    VRKLETTE@ELSA-TRUST.ORG
    bThe form in which applications should be submitted and information and materials they should include:
    WEBSITE APPLICATION "ELSASULEFOUNDATION.ORG"
    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 (2020)
    Form 990-PF (2020)
    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
    URSULINE ACADEMY OF CINCINNATI
    5535 PFEIFFER ROAD
    CINCINNATI,OH45242     		NONE 501(C)(3) SCHOLARSHIPS 20,000
    XAVIER UNIVERSITY
    3800 VICTORY PARKWAY
    CINCINNATI,OH45207     		NONE 501(C)(3) SCHOLARSHIPS 28,000
    MADISON AVE CHRISTIAN CHURCH
    1530 MADISON AVE
    COVINGTON,KY41011     		NONE 501(C)(3) PROGRAM SUPPORT 22,600
    PARISH KITCHEN CATHOLIC CHARITIES
    3629 CHURCH ST
    COVINGTON,KY41015     		NONE 501(C)(3) PROGRAM SUPPORT 10,000
    CIRCLE TAIL
    8834 CAREY LN
    PLEASANT PLAIN,OH45162     		NONE PC Furnishings for New Building 28,000
    WAVE FOUNDATION OF THE NEWPORT AQUA
    ONE AQUARIUM WAY
    NEWPORT,KY41071     		NONE PC PROGRAM SUPPORT 24,000
    NORTHERN KENTUCKY UNIVERSITY FOUNDA
    100 NUNN DR LUCAS ADMIN CENTER STE8
    HIGHLAND HEIGHTS,KY41099     		NONE PC PROVIDE SCHOLARSHIPS AND SPONSOR A VISUAL ARTS EVENT 4,000
    IMPACT 100
    4010 EXECUTIVE PARK DR SUITE 100
    CINCINNATI,OH45241     		NONE PC PROVIDE MEMBERSHIP SUPPORT 7,200
    KENTUCKY HUMANITIES COUNCIL
    206 E MAXWELL ST
    LEXINGTON,KY40508     		NONE PC FUNDING FOR HISTORICAL EDUCATION PROGRAMS 7,500
    COVINGTON LADIES HOME
    702 GARRARD ST
    COVINGTON,KY41011     		NONE PC PROVIDED FUNDING FOR DINING ROOM AND PATIO FURNITURE 10,000
    NORTHERN KENTUCKY SYMPHONY INC
    540 LINDEN AVE
    NEWPORT,KY41071     		NONE POF PROGRAM SUPPORT 10,000
    MASTER PROVISIONS
    7725 FOUNDATION DR
    FLORENCE,KY41042     		NONE POF PROGRAM SUPPORT 10,000
    REDWOOD
    71 ORPHANAGE RD
    FT MITCHELL,KY41017     		NONE PC SMART BOARDS AND ASSITIVE TECHNOLOGY 10,000
    WELCOME HOUSE
    205 E PIKE ST
    COVINGTON,KY41011     		NONE PC PROGRAM SUPPORT 10,000
    LEARNING TREE FARM INC
    3376 S UNION RD
    DAYTON,OH45417     		NONE PC PROGRAM SUPPORT 10,000
    ART ACADEMY
    1212 JACKSON ST
    CINCINNATI,OH45202     		NONE PC PROGRAM SUPPORT 4,000
    CINCINNATI JAZZ HALL OF FAME
    192 PENFIELD LN
    CINCINNATI,OH45238     		NONE PC PROGRAM SUPPORT 10,000
    INTERACT FOR CHANGE
    3805 EDWARDS RD STE 500
    CINCINNATI,OH45209     		NONE PC PROGRAM SUPPORT 4,000
    CINCINNATI UNION BETHEL
    300 Lytle St
    CINCINNATI,OH45202     		NONE PC PROGRAM SUPPORT 10,000
    UPSPRING 360
    PO Box 23300
    CINCINNATI,OH45223     		NONE PC PROGRAM SUPPORT 9,000
    BROMLEY CHRISTIAN CHURCH
    216 KENTON ST
    BROMLEY,KY41016     		NONE PC PROGRAM SUPPORT 1,500
    LITERACY NETWORK OF GREATER CINCINN
    19BROADCAST PLZ 635W 7TH ST STE 309
    CINCINNATI,OH45203     		NONE PC PROGRAM SUPPORT 5,000
    MAGNIFIED GIVING
    9940 Reading Road
    CINCINNATI,OH45241     		NONE PC PROGRAM SUPPORT 12,500
    OH RIVER FOUNDATION
    4480 Classic Dr
    CINCINNATI,OH45241     		NONE PC PROGRAM SUPPORT 9,000
    UNIVERSITY OF CINCINNATI-COLLEGE OF
    PO BOX 19970
    CINCINNATI,OH45219     		NONE PC SCHOLARSHIP 25,000
    OHIO VALLEY VOICES
    6642 BRANCH HILL GUINEA PIKE
    LOVELAND,OH45140     		NONE PC PROGRAM SUPPORT 29,000
    NEW LIFE FURNITURE
    11431 WILLIAMSON RD NO D
    CINCINNATI,OH45241     		NONE PC PROGRAM SUPPORT 20,800
    SWEET CHEEKS DIAPER BANK
    1615 Republic St
    CINCINNATI,OH45202     		NONE PC PROGRAM SUPPORT 17,500
    OHIO ALLEYCAT RESOURCE SPAYNEUTER
    5619 ORLANDDO PLACE
    CINCINNATI,OH45227     		NONE PC PROGRAM SUPPORT 5,000
    ARTWORKS
    20 E CENTRAL PKWY
    CINCINNATI,OH45202     		NONE PC PROGRAM SUPPORT 9,500
    FALCON THEATRE
    636 MONMOUTH ST
    NEWPORT,KY41071     		NONE PC PROGRAM SUPPORT 5,000
    QUEEN CITY OPERA
    7340 LAUREL OAK LANE
    CINCINNATI,OH45237     		NONE PC PROGRAM SUPPORT 8,000
    BIG BRO BIG SIS OF CINCY
    2400 READING ROAD SUITE 148
    CINCINNATI,OH45202     		NONE PC PROGRAM SUPPORT 10,000
    BLOC MINISTRIES INC
    911 W EIGHTH ST
    CINCINNATI,OH45203     		NONE PC PROGRAM SUPPORT 12,000
    BOY SCOUTS OF AMERICA
    10078 READING ROAD
    CINCINNATI,OH45241     		NONE PC PROGRAM SUPPORT 12,500
    CHILDREN'S HOME OF NORTHERN KENTUCK
    200 HOME ROAD DEVOU PARK
    COVINGTON,KY41011     		NONE PC PROGRAM SUPPORT 20,000
    DOWN SYNDROME ASSOCIATION OF GREATE
    4623 WESLEY AVENUE
    CINCINNATI,OH45212     		NONE PC PROGRAM SUPPORT 12,000
    GIRLS ON THE RUN OF GREATER CIN
    4760 RED BANK RD 218
    CINCINNATI,OH45227     		NONE PC PROGRAM SUPPORT 10,000
    CINCINNATI COMMUNITY TOOLBANK
    1682 SEYMOUR AVENUE
    CINCINNATI,OH45237     		NONE PC PROGRAM SUPPORT 15,000
    FRIENDS OF HARRIET BEECHER STOWE HO
    2950 GILBERT AVENUE
    CINCINNATI,OH45206     		NONE PC PROGRAM SUPPORT 6,900
    CANCER FAMILY CARE INC
    4790 RED BANK EXPRESSWAY SUITE 128
    CINCINNATI,OH45227     		NONE PC PROGRAM SUPPORT 10,000
    CENTER FOR RESPITE CARE INC
    1615 REPUBLIC STREET
    CINCINNATI,OH45202     		NONE PC PROGRAM SUPPORT 12,500
    CINCINNATI THERAPEUTIC RIDING
    1342 US HWY 50
    MILFORD,OH45150     		NONE PC PROGRAM SUPPORT 7,500
    FREESTORE FOODBANK INC
    1141 CENTRAL PARKWAY
    CINCINNATI,OH45202     		NONE PC PROGRAM SUPPORT 8,000
    INTER PARISH MINISTRY
    3509 DEBOLT ROAD
    NEWTOWN,OH45244     		NONE PC PROGRAM SUPPORT 5,000
    KAREN CARNS FOUNDATION
    4600 N MASON MONTGOMERY RD
    MASON,OH45040     		NONE PC PROGRAM SUPPORT 7,500
    LYDIA'S HOUSE INC
    PO BOX 128808
    CINCINNATI,OH45212     		NONE PC PROGRAM SUPPORT 5,000
    VIVIAN'S VICTORY
    PO BOX 53525
    CINCINNATI,OH45253     		NONE PC PROGRAM SUPPORT 2,000
    WINNING WITH ALS
    115 BEECHWOOD RD
    FTMITCHELL,KY41017     		NONE PC PROGRAM SUPPORT 5,000
    INTERFAITH HOSPITALITY NETWORK
    990 NASSAU STREET
    CINCINNATI,OH45206     		NONE PC PROGRAM SUPPORT 7,500
    INNER CITY YOUTH OPPORTUNITIES
    1821 SUMMIT ROAD SUITE 210
    CINCINNATI,OH45237     		NONE PC PROGRAM SUPPORT 8,000
    THE CHILDREN'S THEATRE
    4015 RED BANK ROAD
    CINCINNATI,OH45227     		NONE PC PROGRAM SUPPORT 5,000
    STRATEGIES TO END HOMELESSNESS
    2368 VICTORY PKWY STE 600 NO 600
    CINCINNATI,OH45206     		NONE PC PROGRAM SUPPORT 9,000
    VH1 SAVE THE MUSIC FOUNDATION
    1515 BROADWAY 20TH FLOOR
    NEW YORK,NY10036     		NONE PC PROGRAM SUPPORT 15,000
    EXCELLENCE FOUNDATION
    4200 MALSBARY ROAD
    BLUE ASH,OH45242     		NONE PC PROGRAM SUPPORT 750
    1N5
    5030 OAKLAWN DR
    CINCINNATI,OH45227     		NONE PC PROGRAM SUPPORT 8,000
    MILESTONES INC
    12372 RIGGS RD
    INDEPENDENCE,KY41051     		NONE PC PROGRAM SUPPORT 10,000
    STEPPING STONES
    5650 GIVEN ROAD
    CINCINNATI,OH45243     		NONE PC PROGRAM SUPPORT 10,700
    VISUALLY IMPAIRED PRESCHOOL SERVICE
    1906 GOLDSMITH LANE
    LOUISVILLE,KY40218     		NONE PC PROGRAM SUPPORT 5,000
    A MOMENT OF MAGIC UC
    617 STRAIGH STREET
    CINCINNATI,OH45220     		NONE PC PROGRAM SUPPORT 2,500
    ASSISTANCE LEAGUE OF GREATER CINCIN
    1057 META DRIVE SUITE A
    CINCINNATI,OH45208     		NONE PC PROGRAM SUPPORT 4,500
    BOYS GIRLS CLUBS OF GREATER CINCINN
    600 DALTON AVENUE
    CINCINNATI,OH45203     		NONE PC PROGRAM SUPPORT 7,500
    BOYS HOPE GIRLS HOPE OF GREATER CIN
    2400 READING ROAD SUITE 139
    CINCINNATI,OH45202     		NONE PC PROGRAM SUPPORT 15,000
    CHILDREN'S HUNGER ALLIANCE
    1105 SCHROCK ROAD SUITE 505
    COLUMBUS,OH43229     		NONE PC PROGRAM SUPPORT 10,000
    CRAYONS TO COMPUTERS INC
    1350 TENNESSEE AVE
    CINCINNATI,OH45229     		NONE PC PROGRAM SUPPORT 7,000
    DIRECTING ADOLESCENT DEVELOPMENT DA
    260 NORTHLAND BLVD
    CINCINNATI,OH45246     		NONE PC PROGRAM SUPPORT 8,000
    EDGE TEEN CENTER
    7568 WYANDOT LN SUITE 2
    LIBERTY TOWNSHIP,OH45044     		NONE PC PROGRAM SUPPORT 5,000
    ENVISION CHILDREN
    8 ENFIELD STREET
    CINCINNATI,OH45218     		NONE PC PROGRAM SUPPORT 10,000
    FLYING HORSE FARMS
    5260 STATE ROUTE 95
    MOUNT GILEAD,OH43338     		NONE PC PROGRAM SUPPORT 2,500
    FOCUS ON YOUTH INC
    8904 BROOKSIDE AVE
    WEST CHESTER,OH45069     		NONE PC PROGRAM SUPPORT 6,000
    GUIDING LIGHT MENTORING
    PO BOX 24442
    CINCINNATI,OH45224     		NONE PC PROGRAM SUPPORT 5,000
    LEARNING THROUGH ART
    4721 READING RD STE 310
    CINCINNATI,OH45237     		NONE PC PROGRAM SUPPORT 7,500
    PROKIDS
    2605 BURNET AVE
    CINCINNATI,OH45219     		NONE PC PROGRAM SUPPORT 5,000
    WESLEY CHAPEL MISSION CENTER
    PO BOX 141031
    CINCINNATI,OH45250     		NONE PC PROGRAM SUPPORT 10,000
    CHURCHES ACTIVE IN NORTHSIDE - CAIN
    4230 HAMILTON AVE
    CINCINNATI,OH45223     		NONE PC PROGRAM SUPPORT 7,500
    JEWISH FAMILY SERVICE OF THE CINCIN
    8487 RIDGE ROAD
    CINCINNATI,OH45236     		NONE PC PROGRAM SUPPORT 10,000
    LEADERSHIP COUNCIL FOR NONPROFITS
    4010 EXECUTIVE PARK DR SUITE 100
    CINCINNATI,OH45241     		NONE PC PROGRAM SUPPORT 6,000
    THE BOONE CONSERVANCY INC
    1973 BURLINGTON PIKE
    BURLINGTON,KY41005     		NONE PC PROGRAM SUPPORT 5,000
    CHATFIELD COLLEGE
    20918 STATE ROUTE 251
    STMARTIN,OH45118     		NONE PC PROGRAM SUPPORT 10,000
    CINCINNATI LANDMARK PRODUCTIONS
    4990 GLENWAY AVE
    CINCINNATI,OH45238     		NONE PC PROGRAM SUPPORT 15,000
    CITYLINK CENTER
    800 BANK STREET
    CINCINNATI,OH45214     		NONE PC PROGRAM SUPPORT 10,000
    FOUNDATION FOR OHIO RIVER EDUCATION
    5735 KELLOGG AVE
    CINCINNATI,OH45214     		NONE PC PROGRAM SUPPORT 10,000
    MAYERSON FOUNDATION
    312 WALNUT ST
    CINCINNATI,OH45202     		NONE PC PROGRAM SUPPORT 4,000
    MAYFIELD EDUCATION RESEARCH FOUNDAT
    3825 EDWARDS RD STE 300
    CINCINNATI,OH45209     		NONE PC PROGRAM SUPPORT 2,500
    STRITA SCHOOL FOR THE DEAF
    1720 GLENDALE MILFORD RD
    CINCINNATI,OH45215     		NONE PC PROGRAM SUPPORT 7,500
    THE CENTER FOR HOLOCAUST AND HUMANI
    1301 WESTERN AVENUE SUITE 2101
    CINCINNATI,OH45213     		NONE PC PROGRAM SUPPORT 10,000
    WORKING IN NEIGHBORHOODS
    1814 DREMAN AVENUE
    CINCINNATI,OH45223     		NONE PC PROGRAM SUPPORT 5,000
    FAITH COMMUNITY PHARMACY INC
    7033 BURLINGTON PIKE STE 4
    FLORENCE,KY41042     		NONE PC PROGRAM SUPPORT 12,500
    EPILEPSY ALLIANCE OHIO
    895 CENTRAL AVE STE 550
    CINCINNATI,OH45202     		NONE PC PROGRAM SUPPORT 7,000
    GREEN UMBRELLA
    5030 OAKLAWN DR
    CINCINNATI,OH45227     		NONE PC PROGRAM SUPPORT 15,000
    HOSPICE OF THE BLUEGRASS INC
    51 CAVALIER BLVD SUITE 200
    FLORENCE,KY41042     		NONE PC PROGRAM SUPPORT 7,500
    LADD INC LIVING ARRANGEMENTS FOR TH
    3603 VICTORY PARKWAY
    CINCINNATI,OH45229     		NONE PC PROGRAM SUPPORT 7,000
    MAY WE HELP
    7501 WOOSTER PIKE
    CINCINNATI,OH45227     		NONE PC PROGRAM SUPPORT 15,000
    REVIV FAMILY SUPPORT FOUNDATION
    151 GOODMAN STREET
    CINCINNATI,OH45219     		NONE PC PROGRAM SUPPORT 7,500
    ROSEMARYS BABIES
    4439 READING ROAD SUITE 107
    CINCINNATI,OH45229     		NONE PC PROGRAM SUPPORT 10,000
    ST VINCENT DE PAUL - CINCINNATI
    1125 BANK STREET
    CINCINNATI,OH45214     		NONE PC PROGRAM SUPPORT 10,000
    STARFIRE COUNCIL OF GREATER CINCINN
    5030 OAKLAWN DRIVE STARFIRE COUNCIL
    CINCINNATI,OH45227     		NONE PC PROGRAM SUPPORT 5,000
    DRAGONFLY FOUNDATION
    506 OAK STREET
    CINCINNATI,OH45219     		NONE PC PROGRAM SUPPORT 10,000
    Total .................................bullet 3a 950,450
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 ...........     		    14 14,344  
    4 Dividends and interest from securities....     14 1,080,079  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		        -60,681
    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)..   1,094,423 -60,681
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,033,742
    (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.)
    8 PROVIDE FUNDS TO ACCOMPLISH THE FOUNDATION'S STATED GOALS
    Form 990-PF (2020)
    Form 990-PF (2020)
    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) (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) (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 instructions.
    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 (2020)
    Additional Data


    Software ID: 20011551
    Software Version: 2020v4.0


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    ELSA M HEISEL SULE CHARITABLE TRUST 2005
    EIN:
    20-7277661
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    JAMES A BAILER, CPA 18,500 1,850 0 16,650

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

    TY 2020 DepreciationSchedule
    Name:
    ELSA M HEISEL SULE CHARITABLE TRUST 2005
    EIN:
    20-7277661
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    OFFICE DESKS 2019-06-04 990 141 200DB 24.49 % 242      
    OFFICE FURNITURE 2019-06-20 235 34 200DB 24.49 % 58      
    OFFICE FURNITURE 2019-08-02 538 77 200DB 24.49 % 132      

    TY 2020 GeneralExplanationAttachment
    Name:
    ELSA M HEISEL SULE CHARITABLE TRUST 2005
    EIN:
    20-7277661
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Identifier Return Reference Explanation
      General Explanation Supplemental Information for Form 990-PF ELSA M HEISEL SULE CHARITABLE TRUST FOUNDATION TAX YEAR 2017 EIN:20-7277661The Elsa Heisel Sule Foundation is an independent non-operating Private Foundation.The Sule Foundation operates in an "Engaged Philanthropy" model supporting Charitable Grantees with not only the distribution of Grant funds but also with dialogue on collaboration ideas with other/similar or complimentary NonProfit grantees or with other Foundation funding sources or to participate in training collaborations or scaling up consultations with grantee non-profit organizations in partnership with other granting organizations such as Impact 100 or Social Venture Partners Cincinnati.On-going interaction with Grantees of the Sule Foundation includes "Listening Lunches" with either an individual Grantee, as part of the Grant process or evaluation process, or with a small group of like-minded Grantees who are ripe for collaboration with other Grantees of grant opportunities from other Grantor sources. As a requirement of our high school, college and medical school scholarships, we require as part of our "scholarship grant criteria" that the Sule Foundation personnel meet annually with the scholarship recipients, for lunch or dinner, in order to meet them and tell them about Elsa Sule, her family and her motivation for providing educational scholarships. Each student receives a book on the life and times of Elsa and her family.The Sule Foundation grant process and grant guidelines are found on the Elsa Sule Foundation website. Grantmaking originates with either an unsolicited or solicited grant requests for Grantee program or projects, with a Letter of Intent (LOI) from the proposed grantee through our online grant process, hosted by Foundant Technologies. The LOI committee of Sule Foundation meets on a quarterly basis to review all LOIs and then invites those organizations which meet the grant guidelines and other factors, to file a Grant Application. The full board of advisors meets quarterly to review grant applications. The Trustee, Program Officer, Grants Manager and various members of the Advisory Board will attend site visits prior to the board's grant meeting as well as viewing the proposed Grantee's social media accounts and reporting agencies such as Guidestar. Grant Applications are voted upon at the Advisory Board meetings and the results are communicated in a timely manner to the applicants. Grant Agreements and Funds are delivered to the Grantees within a short time after the board meeting. The Sule Foundation will offer social media exposure of the Grantee's funding by the Sule Foundation. Many times, follow up site visits occur to evaluate the programs/projects of the Grantee while in action. All grantees are required to file a Final Follow-up Report, online through the Foundant system, at the conclusion of the expenditure of their grant funds with a narrative of their grant outcomes and budget (proposed v actual) comparisons.The Charitable Trust Trustee of the Foundation is responsible for all of the day-to-day tasks and for maintaining the foundation's compliance with legal and technical issues. The Trustee ensures that the foundation's leadership, administrative and programmatic activities achieve the desired goals of Elsa Sule. The Trustee monitors the Foundation's investment policies and portfolios and in doing so she must consult on a regular and frequent basis with the investment manager, R W Baird. With the advice and recommendations of R W Baird, the Trustee seeks to maximize the production of income and safety of assests.The Trustee monitors, analyzes and interprets short-term and long-term trends in the relevant financial markets and acts upon those trends in a timely and responsible manner. The Trustee develops a clear philanthropic agenda for the Elsa Sule Foundation and makes certain that every dimension of that agenda is supported by an appropriate set of initiatives. The Trustee develops and implements the required initiatives in a consistent, timely, focused and cost effective manner. The Trustee developed and maintains the Grant and Evaluation processes and maintains personal contact with all Grantees on at least an annual basis. The Trustee, along with the Grants Manager, Program Officer and various Advisory Board Members, attends various philanthropic national, regional and local conferences to gain a better and in-depth working understanding of the grant process and grantees' requirements and to maintain professional competence in issues of legal, tax and regulations facing private foundations and non-profit organizations. Locally, the Trustee participates in several philanthropic organizations such as Impact 100 Cincinnati, Social Venture Partners Cincinnati, Greater Cincinnati Foundation, Horizon Community Fund and Kentucky Non-Profit Network, to gain a better understanding and exposure to more local non-profits (not necessarily grantees of Sule) and to variations of philanthropic organizational operations and grant analysis and collaboration.The Grants Manager is responsible for maintaining the online grants management program through Foundant Technologies and for all bookkeeping duties.The Program Officer is responsible for maintaining constant communication with all Grantee Applicants and Funded Grantees in the Sule Foundation portfolio of Grantees, past and present, through electronic communication methods, including email, phone and in person. The Program Officer coordinates site visits and post grant visits. The Program Officer is responsible for maintaining the Sule Foundation website.The Tax Accountant is a CPA who is responsible for the monthly review of finances, investments and the preparation of the 990PF.The Attorney for the Foundation is available on call and attends all board and committee meetings.The Advisory Board members are responsible for preparation for grant meetings and are encouraged but not required to attend LOI meetings and site visits.

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    ELSA M HEISEL SULE CHARITABLE TRUST 2005
    EIN:
    20-7277661
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Name of Stock End of Year Book Value End of Year Fair Market Value
    STOCKS HELD AT BAIRD 20,957,607 20,957,607

    TY 2020 InvestmentsOtherSchedule2
    Name:
    ELSA M HEISEL SULE CHARITABLE TRUST 2005
    EIN:
    20-7277661
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    DNP SELECT INCOME AT COST 679,417 679,417
    JOHN HANCOCK PREM DIV AT COST 793,123 793,123
    NUVEEN PFD INCOME OPPORTUNITY AT COST    
    BLACKROCK CREDIT AT COST 27,096 27,096
    LORD ABBETT AT COST 337,000 337,000
    INVESCO AT COST 168,192 168,192
    ISHARES CORE S&P SMALL CAP ETF AT COST 343,430 343,430
    ISHARES CORE S&P MID CAP ETF AT COST 332,794 332,794
    INVESCO QQQ ETF AT COST 104,162 104,162
    MFS INTL AT COST 160,413 160,413
    CONSUMER DISCRETIONARY AT COST 62,543 62,543

    TY 2020 LandEtcSchedule2
    Name:
    ELSA M HEISEL SULE CHARITABLE TRUST 2005
    EIN:
    20-7277661
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Furniture and Fixtures 1,763 684 1,079 1,079


    TY 2020 LegalFeesSchedule
    Name:
    ELSA M HEISEL SULE CHARITABLE TRUST 2005
    EIN:
    20-7277661
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MARGO GRUBBS 12,500 0 0 12,500


    TY 2020 OtherDecreasesSchedule
    Name:
    ELSA M HEISEL SULE CHARITABLE TRUST 2005
    EIN:
    20-7277661
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Description Amount
    DECREASE IN MARKET VALUE DURING CURRENT YEAR 464,023


    TY 2020 OtherExpensesSchedule
    Name:
    ELSA M HEISEL SULE CHARITABLE TRUST 2005
    EIN:
    20-7277661
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADVERTISING 236     236
    DUES & SUBSCRIPTIONS 4,910     4,910
    INSURANCE 3,401     3,401
    INTERN 1,028     1,028
    INVESTMENT FEES 5,048 5,048    
    MEALS & ENTERTAINMENT 601     601
    SUPPLIES 44 4   40
    WEBSITE 1,107     1,107


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    ELSA M HEISEL SULE CHARITABLE TRUST 2005
    EIN:
    20-7277661
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative 60,000 6,000 0 54,000
    Advisory Board Fees 30,000 3,000 0 27,000


    TY 2020 TaxesSchedule
    Name:
    ELSA M HEISEL SULE CHARITABLE TRUST 2005
    EIN:
    20-7277661
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX 21,753 21,753    
    FOREIGN TAXES 7,042 7,042