Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
KELLY FOR ITA FOUNDATION 220-008975-000
 
Number and street (or P.O. box number if mail is not delivered to street address)1100 NORTH MARKET STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WILMINGTON, DE198900001
A Employer identification number

23-7277016
B Telephone number (see instructions)

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$18,638,030J 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)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 378,117 378,117  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 422,331
b Gross sales price for all assets on line 6a 3,276,846
7 Capital gain net income (from Part IV, line 2)... 422,331
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 49,857 49,857  
12 Total. Add lines 1 through 11........ 850,305 850,305  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 91,518     91,518
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment 1,500 0 0 1,500
c Other professional fees (attach schedule).... Click to see attachment 61,012 61,012   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 11,532 11,029   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 14,883 11,120    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 180,445 83,161 0 93,018
25 Contributions, gifts, grants paid....... 550,000 550,000
26 Total expenses and disbursements. Add lines 24 and 25 730,445 83,161 0 643,018
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 119,860
b Net investment income (if negative, enter -0-) 767,144
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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.............      
2 Savings and temporary cash investments......... 264,532 417,213 417,213
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 9,500,965 9,462,379 16,358,037
c Investments—corporate bonds (attach schedule)....... 1,229,399 1,234,556 1,255,533
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 512,230 Click to see attachment515,307 607,247
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 11,507,126 11,629,455 18,638,030
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 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........ 11,431,696 11,615,301
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 75,430 14,154
29 Total net assets or fund balances (see instructions)..... 11,507,126 11,629,455
30 Total liabilities and net assets/fund balances (see instructions). 11,507,126 11,629,455
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
11,507,126
2
Enter amount from Part I, line 27a .....................
2
119,860
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
3,253
4
Add lines 1, 2, and 3 ..........................
4
11,630,239
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
784
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
11,629,455
Form 990-PF (2021)
Form 990-PF (2021)
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 224. AIA GROUP LTD SPONS ADR   2019-11-11 2021-03-15
b 10000. AON PLC 2.800% 3/15/21   2015-11-23 2021-02-15
c 1687. ADECCO GROUP S.A. - REG- UNSPONS ADR   2019-11-19 2021-09-10
d 229. AIRBUS SE UNSPOS ADR   2016-11-08 2021-06-21
e 23. ALIBABA GROUP HOLDING LTD SPONS ADR   2020-05-04 2021-07-09
94. ALIBABA GROUP HOLDING LTD SPONS ADR     2021-08-18
187. ALIBABA GROUP HOLDING LTD SPONS ADR   2020-05-04 2021-08-18
10000. AMAZON.COM INC 2.100% 5/12/31   2021-05-10 2021-09-08
15511.892 AMERICAN BEACON SIM H/Y-INS   2018-03-22 2021-03-04
370. AMERICAN ELECTRIC POWER INCORPORATED     2021-03-19
10000. AMERICAN HONDA MTN 0.650% 9/08/23     2021-10-05
675. ANGLO AMERICAN PLC SPONS ADR   2019-10-31 2021-03-03
1135. ANGLO AMERICAN PLC SPONS ADR   2019-10-31 2021-07-22
1235. ANGLO AMERICAN PLC SPONS ADR     2021-09-23
1561. ANGLO AMERICAN PLC SPONS ADR   2020-06-11 2021-10-07
10000. APPLE INC 2.900% 9/12/27     2021-05-12
10000. AVALONBAY COMMUN MTN 4.200% 12/15/23   2017-02-22 2021-10-20
554. BAE SYSTEMS PLC ADR   2017-10-11 2021-10-18
15662. BANCO SANTANDER SA - SPONS ADR   2021-02-19 2021-12-14
5000. BERKSHIRE HATHAWAY 1.850% 3/12/30   2020-03-04 2021-01-27
380. BERKSHIRE HATHAWAY INC DEL CL B     2021-01-06
357. BERKSHIRE HATHAWAY INC DEL CL B   2017-05-12 2021-02-18
273. BIOGEN INC     2021-03-19
3038. BRAMBLES LTD SPONS ADR   2020-06-24 2021-02-18
10000. CANADIAN IMP BK CONV 0.500% 12/14/23   2020-12-11 2021-10-13
522. CAPGEMINI SE UNSPONS ADR   2019-10-18 2021-08-06
10000. CAPITAL ONE FINL CO 3.050% 3/09/22   2017-03-06 2021-12-03
355. CARLSBERG A/S SPONS ADR   2016-02-05 2021-01-07
5000. CATERPILLER FINL MTN 0.950% 5/13/22   2020-05-12 2021-05-11
10000. CHEVRON CORP 3.191% 6/24/23   2014-04-11 2021-11-03
10000. CITIGROUP INC V-Q 2.312% 11/04/22   2019-11-21 2021-01-29
10000. COMCAST CORP 3.700% 4/15/24   2018-10-02 2021-05-20
1810. COMPAGNIE DE ST GOBAIN UNSPONS ADR   2019-12-13 2021-06-24
144. DBS GROUP HOLDINGS LIMITED SPONS ADR   2016-06-10 2021-03-15
243. DNB ASA SPONS ADR   2020-06-08 2021-02-16
2806. DNB ASA SPONS ADR   2016-11-02 2021-02-16
10000. DTE ENERGY CO 3.700% 8/01/23   2019-12-04 2021-07-01
324. DANONE - SPONS ADR   2021-03-15 2021-10-28
3661. DANONE - SPONS ADR     2021-10-28
513. DEUTSCHE BOERSE AG   2020-12-17 2021-05-26
2598. DEUTSCHE BOERSE AG     2021-05-26
577. DEUTSCHE POST AG SPONS ADR     2021-04-09
10000. DUKE ENERGY CORP 0.900% 9/15/25   2020-12-18 2021-02-26
681. EISAI LTD SPONS ADR   2021-08-06 2021-12-28
5736. ENEL SPA - ADR   2020-04-02 2021-10-28
792. ENTAIN PLC UNSPONS ADR   2021-02-18 2021-07-01
10000. ENTERPRISE PRODU 2.800% 1/31/30     2021-07-29
15000. EXELON GENERATION 4.250% 6/15/22   2014-04-11 2021-01-27
831. FMC CORP COMMON (NEW)   2017-01-30 2021-10-08
319. META PLATFORMS, INC-A     2021-01-06
1112. FIRSTENERGY CORPORATION   2020-03-17 2021-10-08
2035. FIRSTENERGY CORPORATION     2021-10-11
.875 GENERAL ELECTRIC CO   2020-03-26 2021-08-17
922. GENERAL ELECTRIC CO   2020-03-26 2021-10-08
136. HITACHI LTD SPONS ADR   2019-06-10 2021-03-15
5000. HONEYWELL INTERNAT 0.483% 8/19/22   2020-08-17 2021-03-02
10000. IBM CREDIT CORP 3.600% 11/30/21   2019-02-01 2021-01-14
1710. INDITEX UNSPONS ADR   2018-09-07 2021-03-05
1375. INDITEX UNSPONS ADR   2020-10-26 2021-04-09
1924. INDITEX UNSPONS ADR   2018-09-07 2021-04-09
2353. ITAU UNIBANCO HOLDING SA - PREF ADR   2021-03-12 2021-06-24
12963. ITAU UNIBANCO HOLDING SA - PREF ADR     2021-10-27
10000. JPMORGAN CHASE 3.900% 7/15/25   2016-03-17 2021-04-07
624. KBC GROUP NV UNSPONS ADR   2020-03-09 2021-03-12
514. KOMATSU LTD SPONS ADR   2021-05-17 2021-07-08
2345. KOMATSU LTD SPONS ADR     2021-09-10
1683. KONINKLIJKE AHOLD DELHAIZE SPONS ADR   2020-03-25 2021-01-07
10000. MCCORMICK & CO 2.700% 8/15/22   2020-02-27 2021-02-09
446. MERCK KGAA SPONS ADR   2020-02-24 2021-03-12
493. MERCK KGAA SPONS ADR   2020-02-24 2021-08-06
5000. MONDELEZ INTERNATL 0.625% 7/01/22   2020-06-30 2021-12-03
1237. NORDEA BANK ABP SPONS ADR   2018-09-07 2021-06-24
10000. ORACLE CORP 2.500% 4/01/25   2020-04-21 2021-02-12
.8 ORGANON & CO   2014-06-27 2021-06-14
122. ORGANON & CO     2021-06-16
5000. PEPSICO INC 2.375% 10/06/26   2020-05-29 2021-03-02
5000. PEPSICO INC 2.375% 10/06/26   2016-10-03 2021-03-02
569. PERNOD RICARD SA UNSPONSORED ADR   2020-03-23 2021-10-18
5000. PFIZER INC 1.700% 5/28/30   2020-05-21 2021-05-11
336. PROCTER & GAMBLE CO COM   2016-12-09 2021-02-18
214. PROSUS NV SPONS ADR   2019-10-24 2021-07-13
599. PROSUS NV SPONS ADR   2020-11-02 2021-07-30
2527. PROSUS NV SPONS ADR     2021-07-30
1227. RWE AKTIENGESELLSCHAF-SP ADR   2019-08-20 2021-03-15
10000. ROCKWELL COLLINS INC 3.200% 3/15/24   2017-03-28 2021-03-02
1150. SPDR GOLD SHARES   2020-09-23 2021-01-13
432. SANDS CHINA LTD UNSPONS ADR   2019-11-05 2021-05-17
753. SANDS CHINA LTD UNSPONS ADR     2021-07-30
583. SANDS CHINA LTD UNSPONS ADR   2019-11-05 2021-07-30
191. SANOFI-ADR   2020-02-28 2021-02-17
801. SANOFI-ADR     2021-02-17
329. SIEMENS A G SPONSORED ADR   2020-09-04 2021-09-10
5000. SUNTRUST BANKS INC 2.700% 1/27/22   2017-02-01 2021-06-25
10000. TD AMERITRADE 2.950% 4/01/22     2021-03-17
136. TAIWAN SEMICONDUCTOR SPON ADR   2020-05-01 2021-02-19
401. TEMENOS AG SPONS ADR     2021-01-21
10000. U.S. TREASURY NOTES 2.625% 1/31/26   2019-03-28 2021-03-19
5000. U.S. TREASURY NOTES 1.625% 8/15/22   2019-06-18 2021-12-01
5000. U.S. TREASURY NOTES 1.750% 5/31/22   2017-06-02 2021-12-01
5000. U.S. TREASURY NOTES 1.500% 9/15/22   2019-10-04 2021-12-06
10000. VERIZON COMM INC 0.850% 11/20/25   2020-11-10 2021-03-12
297. VIATRIS INC   2017-01-23 2021-02-23
2637. VIPSHOP HLDGS LTD SPONS ADR     2021-07-30
10000. WELLS FARGO & CO MTN 2.100% 7/26/21   2016-07-18 2021-06-04
18233.387 WILMINGTON GLOBAL ALPHA EQUITIES FD     2021-08-02
414.11 CAMDEN PARTNERS STRATEGIC FUND V-A, LP   2013-03-11 2021-12-31
50061. RODNEY SQUARE REAL ESTATE MANAGERS   2009-01-02 2021-03-01
28924. RODNEY SQUARE REAL ESTATE MANAGERS   2009-01-02 2021-04-16
29045.69 CAMDEN PARTNERS V SPV, LP   2013-03-11 2021-04-30
.2877 XP INC - CLASS A   2021-10-08 2021-10-26
739. XP INC - CLASS A     2021-12-13
1277. XP INC - CLASS A     2021-12-29
16. ASML HOLDING N.V. ADR   2019-06-04 2021-02-19
24. ASML HOLDING N.V. ADR   2019-06-04 2021-08-06
32. ASML HOLDING N.V. ADR     2021-10-07
36. ASML HOLDING N.V. ADR   2019-03-29 2021-10-12
3931. THUNGELA RES LTD     2021-07-07
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(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 11,533   9,240 2,293
b 10,000   10,000  
c 45,393   52,120 -6,727
d 7,618   3,296 4,322
e 4,650   4,479 171
16,353   24,255 -7,902
32,532   36,413 -3,881
10,226   9,998 228
150,000   148,037 1,963
30,610   23,472 7,138
10,031   10,002 29
13,763   8,856 4,907
22,833   14,830 8,003
21,779   15,684 6,095
28,260   17,907 10,353
10,848   10,067 781
10,671   10,212 459
18,136   18,338 -202
46,265   57,236 -10,971
5,193   4,995 198
88,094   70,324 17,770
86,596   58,126 28,470
72,748   72,303 445
48,727   45,490 3,237
9,962   10,004 -42
23,332   12,676 10,656
10,042   9,994 48
10,971   6,125 4,846
5,037   4,996 41
10,369   10,002 367
10,139   10,012 127
10,885   9,999 886
24,116   15,642 8,474
11,969   6,788 5,181
4,802   3,882 920
55,453   40,204 15,249
10,656   10,264 392
4,211   4,690 -479
47,584   56,308 -8,724
8,532   8,794 -262
43,209   27,472 15,737
32,332   26,597 5,735
9,870   10,014 -144
39,081   54,945 -15,864
47,981   37,254 10,727
19,251   15,006 4,245
10,696   9,993 703
15,621   15,066 555
74,267   43,560 30,707
85,112   62,936 22,176
40,426   40,326 100
72,945   56,741 16,204
88   56 32
96,693   59,509 37,184
13,406   10,123 3,283
5,006   5,000 6
10,293   10,046 247
28,441   24,913 3,528
22,658   19,543 3,115
31,705   28,031 3,674
15,037   11,553 3,484
55,243   65,051 -9,808
11,070   10,267 803
22,323   19,872 2,451
12,050   15,323 -3,273
59,744   61,753 -2,009
48,996   36,473 12,523
10,329   10,154 175
14,079   11,512 2,567
21,057   12,725 8,332
5,001   4,999 2
13,911   13,242 669
10,700   10,404 296
24   22 2
3,727   3,268 459
5,341   5,377 -36
5,341   4,999 342
25,791   14,926 10,865
4,859   5,025 -166
43,231   28,257 14,974
3,965   3,050 915
10,608   12,266 -1,658
44,753   35,512 9,241
47,600   34,357 13,243
10,650   9,971 679
199,817   201,635 -1,818
18,298   22,166 -3,868
25,503   33,783 -8,280
19,746   29,914 -10,168
9,021   8,771 250
37,834   40,298 -2,464
28,375   22,819 5,556
5,062   4,979 83
10,228   10,012 216
18,491   7,133 11,358
52,593   61,511 -8,918
10,845   10,155 690
5,051   4,973 78
5,041   5,000 41
5,049   5,019 30
9,770   9,999 -229
4,455   3,955 500
43,692   69,704 -26,012
10,026   9,991 35
225,000   194,510 30,490
414   414  
50,061   50,061  
28,924   3,622 25,302
29,046     29,046
11   12 -1
22,511   27,429 -4,918
36,032   42,683 -6,651
9,469   3,021 6,448
18,827   4,532 14,295
23,945   5,969 17,976
26,269   6,710 19,559
351   198 153
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
      21,670
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       2,293
b        
c       -6,727
d       4,322
e       171
      -7,902
      -3,881
      228
      1,963
      7,138
      29
      4,907
      8,003
      6,095
      10,353
      781
      459
      -202
      -10,971
      198
      17,770
      28,470
      445
      3,237
      -42
      10,656
      48
      4,846
      41
      367
      127
      886
      8,474
      5,181
      920
      15,249
      392
      -479
      -8,724
      -262
      15,737
      5,735
      -144
      -15,864
      10,727
      4,245
      703
      555
      30,707
      22,176
      100
      16,204
      32
      37,184
      3,283
      6
      247
      3,528
      3,115
      3,674
      3,484
      -9,808
      803
      2,451
      -3,273
      -2,009
      12,523
      175
      2,567
      8,332
      2
      669
      296
      2
      459
      -36
      342
      10,865
      -166
      14,974
      915
      -1,658
      9,241
      13,243
      679
      -1,818
      -3,868
      -8,280
      -10,168
      250
      -2,464
      5,556
      83
      216
      11,358
      -8,918
      690
      78
      41
      30
      -229
      500
      -26,012
      35
      30,490
       
       
      25,302
      29,046
      -1
      -4,918
      -6,651
      6,448
      14,295
      17,976
      19,559
      153
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 422,331
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  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 10,663
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 10,663
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 6,075
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 6,075
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 4,588
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet0 RefundedBullet 11 0
Part VI-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
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletDE
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-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 addressbullet  
    14
    The books are in care ofbulletWilmington Trust Company Telephone no.bullet (302) 651-1942

    Located atbullet1100 N MARKET STREETWILMINGTONDE ZIP+4bullet19890
    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 2021, 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 VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (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)? ......................
    1a(5)
    Yes
     
    (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.) ...............
    1a(6)
     
    No
    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
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    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
     
    No
    c
    .........bullet
    d
    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? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    Part VII
    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
    Wilmington Trust Trustee
    2     		91,518    
    1100 N Market Street
    Wilmington,DE19890
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    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.............bullet0
    Part VIII-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 VIII-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 (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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
    17,299,967
    b
    Average of monthly cash balances.......................
    1b
    387,792
    c
    Fair market value of all other assets (see instructions)................
    1c
    17,687,759
    d
    Total (add lines 1a, b, and c).........................
    1d
    35,375,518
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    35,375,518
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    530,633
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    34,844,885
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    1,742,244
    Part X
    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 IX, line 6..................
    1
    1,742,244
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    10,663
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    10,663
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,731,581
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,731,581
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    1,731,581
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-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 XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 1,731,581
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 293,618
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 0
    b From 2017...... 0
    c From 2018...... 0
    d From 2019...... 0
    e From 2020...... 0
    f Total of lines 3a through e ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 643,018
    a Applied to 2020, but not more than line 2a 293,618
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount..... 349,400
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		1,382,181
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017.... 0
    b Excess from 2018.... 0
    c Excess from 2019.... 0
    d Excess from 2020.... 0
    e Excess from 2021.... 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    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).)
    NONE
    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.
    NONE
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    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 (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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
    ITA FOUNDATION INC
    PO BOX 12
    MINNESOTA CITY,MN55959     		NONE NON PROFIT TO SUPPORT PITMAN'S INITIAL 550,000
    Total .................................bullet 3a 550,000
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 422,331  
    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) ..   850,305  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    850,305
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-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 (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    KELLY FOR ITA FOUNDATION 220-008975-000
    EIN:
    23-7277016
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 1,500     1,500

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

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    KELLY FOR ITA FOUNDATION 220-008975-000
    EIN:
    23-7277016
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    Initial Teaching Alphabet Foundation Inc
          		PO Box 11355
    Hauppauge,NY11788     		2019-08-01 550,000 To Support Pitman's Initial Teaching Alphabet and to Foster and Further the development and use of english phonetic alphabet          

    TY 2021 InvestmentsOtherSchedule2
    Name:
    KELLY FOR ITA FOUNDATION 220-008975-000
    EIN:
    23-7277016
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    PARTNERSHIPS- INFLATION HEDGES AT COST 515,307 607,247

    TY 2021 OtherDecreasesSchedule
    Name:
    KELLY FOR ITA FOUNDATION 220-008975-000
    EIN:
    23-7277016
    Description Amount
    FOREIGN TAX REFUND 784


    TY 2021 OtherExpensesSchedule
    Name:
    KELLY FOR ITA FOUNDATION 220-008975-000
    EIN:
    23-7277016
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER EXPENSE (NON-DEDUCTIBLE 11,120 11,120   0
    OTHER EXPENSE (NON-DEDUCTIBLE 3,763 0   0


    TY 2021 OtherIncomeSchedule2
    Name:
    KELLY FOR ITA FOUNDATION 220-008975-000
    EIN:
    23-7277016
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PARTNERSHIP RENTAL INCOME 6 6  
    RODNEY SQ REAL ESTATE MANAGERS FUND 24,023 24,023  
    CAMDEN PARTNERS V SPV, LP 25,828 25,828  


    TY 2021 OtherIncreasesSchedule
    Name:
    KELLY FOR ITA FOUNDATION 220-008975-000
    EIN:
    23-7277016
    Description Amount
    CAMDEN PARTNERS 3,218
    TIMING DIFFERENCE 35


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    KELLY FOR ITA FOUNDATION 220-008975-000
    EIN:
    23-7277016
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TRUSTEE FEES - INCOME (NON-DED 21,354 21,354    
    TRUSTEE FEES-PRIN (NON-DEDUCTI 39,658 39,658    


    TY 2021 TaxesSchedule
    Name:
    KELLY FOR ITA FOUNDATION 220-008975-000
    EIN:
    23-7277016
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 9,971 9,971   0
    FEDERAL ESTIMATES - PRINCIPAL 503 0   0
    FOREIGN TAXES ON QUALIFIED FOR 537 537   0
    FOREIGN TAXES ON NONQUALIFIED 521 521   0