TY 2022 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2022

Open to Public Inspection

For calendar year 2022, or tax year beginning 01-01-2022 , and ending 12-31-2022

Name of foundation
ACCELERATED LEARNING FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)402 N 3rd St
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
FAIRFIELD, IA52556

A Employer identification number

38-3423350

B Telephone number (see instructions)

C If exemption application is pending, check here right arrow

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

D 1. Foreign organizations, check here............. right arrow

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

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

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

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

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

$1,221,187J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)		(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)		18,800
2	Check .............
3	Interest on savings and temporary cash investments		22		22	22
4	Dividends and interest from securities...
5a	Gross rents............		174,487		56,412	174,487
b	Net rental income or (loss) 76,016
6a	Net gain or (loss) from sale of assets not on line 10
b	Gross sales price for all assets on line 6a
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	33,567
b	Less: Cost of goods sold....	10,395
c	Gross profit or (loss) (attach schedule).....		List of Attached Documents: // Content	23,172		23,172
11	Other income (attach schedule).......		List of Attached Documents: // Content	7,590	7,590	7,590
12	Total. Add lines 1 through 11........		224,071		64,024	205,271
13	Compensation of officers, directors, trustees, etc.		48,000		9,600	28,922	19,078
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......		3,500		700	2,109	1,391
16a	Legal fees (attach schedule).........		List of Attached Documents: // Content	55	8	52	3
b	Accounting fees (attach schedule).......		List of Attached Documents: // Content	7,186	1,078	6,731	455
c	Other professional fees (attach schedule)....
17	Interest...............		26,626		22,632	26,582	44
18	Taxes (attach schedule) (see instructions)...		List of Attached Documents: // Content	19,637	12,084	19,554	83
19	Depreciation (attach schedule) and depletion...		List of Attached Documents: // Content	36,142	14,438	35,902
20	Occupancy..............		64,254		3,599	63,552	703
21	Travel, conferences, and meetings.......		450			379	71
22	Printing and publications..........
23	Other expenses (attach schedule).......		List of Attached Documents: // Content	30,156	494	14,045	16,100
24	Total operating and administrative expenses.
	Add lines 13 through 23..........		236,006		64,633	197,828	37,928
25	Contributions, gifts, grants paid.......		0				0
26	Total expenses and disbursements. Add lines 24 and 25		236,006		64,633	197,828	37,928
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements		-11,935
b	Net investment income (if negative, enter -0-)				0
c	Adjusted net income (if negative, enter -0-)...					7,443

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2022)

Form 990-PF (2022)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	94,670	35,691	35,691
	2	Savings and temporary cash investments.........	65,043	65,249	65,249
	3	Accounts receivable 23,791
		Less: allowance for doubtful accounts	21,013	23,791	23,791
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule) 4,350
		Less: allowance for doubtful accounts		List of Attached Documents: // Content 4,350	4,350
	8	Inventories for sale or use..............	32,320	31,695	31,695
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	91,956	List of Attached Documents: // Content 93,215	93,215
	14	Land, buildings, and equipment: basis 1,178,663
		Less: accumulated depreciation (attach schedule) 211,467	1,002,366	List of Attached Documents: // Content 967,196	967,196
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	1,307,368	1,221,187	1,221,187
	17	Accounts payable and accrued expenses..........	2,584	1,973
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......	715,251	List of Attached Documents: // Content 641,948
	22	Other liabilities (describe )	7,260	List of Attached Documents: // Content 5,170
	23	Total liabilities (add lines 17 through 22).........	725,095	649,091
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	582,273	572,096
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		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).....	582,273	572,096
	30	Total liabilities and net assets/fund balances (see instructions).	1,307,368	1,221,187

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

582,273

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

-11,935

Other increases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

1,758

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

572,096

Decreases not included in line 2 (itemize) right arrow

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

572,096

Form 990-PF (2022)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1a
b
c
d
e

(e) Gross sales price		(f) Depreciation allowed (or allowable)	(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Form 990-PF (2022)

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	0
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
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	0
6	Credits/Payments:

a	2022 estimated tax payments and 2021 overpayment credited to 2022	6a
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2221 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2023 estimated tax	Refunded	11

Part VI-A

Statements Regarding Activities

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

Yes

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

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

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

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

(1) On the foundation. right arrow

$ (2) On foundation managers. right arrow

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

on foundation managers. right arrow

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

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

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

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

Yes

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

Yes

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

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

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument? ................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XIV..................................

Yes

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

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2022 or the taxable year beginning in 2022? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Yes

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

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

Form 990-PF (2022)

Page 5

Part VI-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

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

Yes

Website address right arrow

alfdn.org gamesforthinkers.org

The books are in care of right arrow

LAYMAN G ALLEN Telephone no. right arrow

(641) 919-2466

Located at right arrow

402 N 3rd StFAIRFIELDIA ZIP+4 right arrow

52556

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

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

16 At any time during calendar year 2022, 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 right arrow

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

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)

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

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

1a(2)

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

1a(3)

(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)

(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)

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........

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

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 2022? .............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2022, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2022?....................

If "Yes," list the years right arrow

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2022 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 2022.) .....................

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

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2022? ..

Form 990-PF (2022)

Page 6

Part VI-B

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

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

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

5a(3)

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

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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).

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

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

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

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

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

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

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 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-)
LAYMAN G ALLEN	President 40.00	48,000
402 N 3rd St FAIRFIELD,IA52556	President 40.00	48,000
Gail Crotta	Director 20.00	0
402 N 3rd St FAIRFIELD,IA52556	Director 20.00	0
John Miller	Director 0.00	0
934 Arbordale Ann Arbor,MI48103	Director 0.00	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2022)

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............. right arrow

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	Development of online programs of academic games in math and social studies	14,342
2	Creation & distribution of academic games in the field of math & soc studies	46,756
3	Provide subsidized space for artists workspace and art gallery	68,327
4	Archive historical documents audio and video materials for university	0

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......................... right arrow

Form 990-PF (2022)

Page 8

Part IX

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

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

purposes:

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

92,586

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

124,797

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

724,930

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

942,313

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

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

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

475,022

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

467,291

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

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

7,009

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

460,282

Minimum investment return. Enter 5% (0.05) of line 5................

23,014

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.)

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

Tax on investment income for 2022 from Part V, line 5.......

Income tax for 2022. (This does not include the tax from Part V.) ...

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

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

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

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

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

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

Part XI

Qualifying Distributions (see instructions)

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

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

37,928

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

37,928

Form 990-PF (2022)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus
1 Distributable amount for 2022 from Part X, line 7
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2022:
a From 2017......
b From 2018......
c From 2019......
d From 2020......
e From 2021......
f Total of lines 3a through e ........
4Qualifying distributions for 2022 from Part
XI, line 4: $ 37,928
a Applied to 2021, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2022 distributable amount.....
e Remaining amount distributed out of corpus		37,928
5 Excess distributions carryover applied to 2022.
(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		37,928
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 2021. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2022. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2023 ..........
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 2017 not applied on line 5 or line 7 (see instructions) ...
9 Excess distributions carryover to 2023. Subtract lines 7 and 8 from line 6a ......		37,928
10 Analysis of line 9:
a Excess from 2018....
b Excess from 2019....
c Excess from 2020....
d Excess from 2021....
e Excess from 2022....	37,928

Form 990-PF (2022)

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 2022, enter the date of the ruling ...... right arrow

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2022	(b) 2021	(c) 2020	(d) 2019	(e) Total
	7,443	8,589		8,019	24,051
b 85% (0.85) of line 2a .........	6,327	7,301		6,816	20,444
c Qualifying distributions from Part XI, line 4 for each year listed .....	37,928	45,091	76,337	123,313	282,669
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 ....	37,928	45,091	76,337	123,313	282,669
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 ..	15,343	12,628	6,432	13,478	47,881
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).)

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 right arrow

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

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 (2022)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year

Total ................................. 3a				0

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2022)

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	22
4 Dividends and interest from securities ....
5 Net rental income or (loss) from real estate:
aDebt-financed property......	531120	76,016
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....			14	7,585
8 Gain or (loss) from sales of assets other than inventory ............
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory					23,171
11 Other revenue: aOther		5
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		76,021		7,607	23,171

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

106,799

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)
10	Sale of academic math games to further instructional experie

Form 990-PF (2022)

Page 13

Part XVI

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

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

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

Form 990-PF (2022)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2022 AccountingFeesSchedule

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Accounting expenses	7,186	1,078	6,731	455

- TIN:

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

TY 2022 AmortizationSchedule

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Description of Amortized Expenses	Date Acquired, Completed, or Expended	Amount Amortized	Deduction for Prior Years	Amortization Method	Current Year Amortization	Net Investment Income	Adjusted Net Income	Total Amount of Amortization
ORGANIZATIONAL COSTS	1998-10-01	2,156	2,156	5	0	0	0	2,156
Trademarks	2013-12-28	1,022	550	15	68	0	57	618

- TIN:

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

TY 2022 DepreciationSchedule

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

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
EQUIPMENT	2000-06-01	1,452	1,306	SL	5	0	0	0
EQUIPMENT	1998-11-01	3,416	3,416	SL	5	0	0	0
COMPUTER	2002-06-01	1,200	1,200	SL	5	0	0	0
COMPUTER	2002-06-01	3,228	3,228	SL	5	0	0	0
COMPUTER	2003-06-01	2,518	2,518	SL	5	0	0	0
COMPUTER	2003-06-01	2,857	2,857	SL	5	0	0	0
FURNITURE	1999-08-01	800	800	SL	5	0	0	0
WEBSITE COSTS	1998-12-01	4,308	4,452	SL	5	0	0	0
Computer Equipment	2007-04-19	1,556	1,556	M	5	0	0	0
Computer	2007-05-15	1,637	1,637	M	5	0	0	0
Computer Equipment	2008-01-21	587	587	M	5	0	0	0
Computer Equipment	2008-05-15	317	317	M	5	0	0	0
Computer Equipment	2009-07-14	1,364	1,364	M	5	0	0	0
Computer Equipment	2009-08-17	1,316	1,316	M	5	0	0	0
Computer Equipment	2010-02-12	3,686	3,686	M	5	0	0	0
Air Conditioner Unit	2010-08-24	400	400	M	7	0	0	0
Computer Equipment	2011-10-17	386	386	M	7	0	0	0
Projector	2012-04-02	972	972	M	7	0	0	0
Telephone System	2012-09-18	1,354	1,354	M	7	0	0	0
Phones	2012-10-19	565	564	M	7	0	0	0
Video Camera	2013-08-28	1,497	1,497	M	7	0	0	0
Computer	2013-09-26	586	586	M	5	0	0	0
St Marys Buildings	2014-09-01	173,215	31,087	SL	39	4,441	0	4,392
St Marys Land	2014-09-01	14,800	0	NDA		0	0	0
Improvements	2015-07-15	3,000	497	SL	39	77	0	76
Improvements-N 3rd St	2015-08-15	3,000	491	SL	39	77	0	76
Improvements-N 3rd St	2015-10-31	17,590	2,800	SL	39	451	0	446
Improvements-N 3rd St	2015-11-30	28,265	4,441	SL	39	725	0	717
Improvements-N 3rd St	2015-12-31	20,240	3,136	SL	39	519	0	513
Legal Acquistion Costs N 3rd St	2015-08-31	10,090	1,651	SL	39	259	0	256
Dell Equipment	2015-03-11	264	264	SL	5	0	0	0
Counter tops	2016-07-21	615	473	SL	7	88	0	87
Warehouse Shelving	2016-01-25	3,665	3,078	SL	7	524	0	518
Improvements-St Marys	2016-09-01	86,939	11,795	SL	39	2,229	0	2,204
Improvement-Carpeting-3rd St	2016-07-21	2,106	1,618	SL	7	301	0	298
Windows	2016-05-27	5,000	720	SL	39	128	0	126
Shed Heater Installation	2016-03-16	800	670	SL	7	114	0	113
HVAC Project	2016-10-01	40,047	29,320	SL	7	5,721	0	5,658
Oven tables and racks	2017-11-15	840	653	M	7	75	0	74
Kitchen Equipment	2017-12-06	800	621	M	7	71	0	70
Windows	2017-04-05	3,798	457	SL	39	97	0	96
Rectory heatingcooling	2017-01-06	4,330	550	SL	39	111	0	110
3rd St Boilers	2017-03-13	844	105	SL	39	22	0	22
Electrical wiring	2017-06-27	6,575	767	SL	39	169	0	167
St Marys Improvements	2017-03-31	1,173	144	SL	39	30	0	30
Land - S Lot 14	2017-09-14	6,257	0	NDA		0	0	0
New Chicago PUD Arch Drawings	2017-08-14	2,131	110	SL	39	55	55	55
HVAC Project Settlement	2017-08-14	15,750	12,236	M	7	1,405	0	1,390
New Chicago Triplexes-Buildings	2020-05-01	519,358	21,642	SL	39	13,317	13,317	13,317
New Chicago loan fees	2020-05-01	2,894	120	SL	39	74	74	74
New Chicago Survey	2020-05-01	1,400	58	SL	39	36	36	36
N 3rd St Improvements	2020-06-15	121,547	4,805	SL	39	3,117	0	3,083
Washer	2020-11-06	856	267	M	7	168	0	166
New Chicago Improvements	2020-05-01	33,883	1,412	SL	39	869	869	869
Computer	2020-11-06	1,410	438	M	7	277	0	274
Laptop Computer	2021-10-26	1,576	56	M	7	434	0	429
Electrical improvement	2021-03-12	3,378	69	SL	39	87	87	87
HVAC	2022-01-21	1,040	0	SL	7	74	0	73

- TIN:

TY 2022 InvestmentsOtherSchedule2

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
Allen Olsen LLC		82,787	82,787
Securities		10,428	10,428

- TIN:

TY 2022 LandEtcSchedule2

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
Buildings-3rd St	183,312	37,438	145,874	145,874
Land	21,057	0	21,057	21,057
Building Improvements-3rd St	302,301	38,460	263,841	263,841
Furniture & Fixtures	67,319	58,277	9,042	9,042
Equipment	34,144	32,217	1,927	1,927
Amortizable Assets	7,486	7,226	260	260
New Chicago Development	563,044	37,849	525,195	525,195

- TIN:

TY 2022 LegalFeesSchedule

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Legal fees	55	8	52	3

- TIN:

TY 2022 MortgagesAndNotesPayableSch

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Total Mortgage Amount:

Item No.	1
Lender's Name	Libertyville Savings Bank
Lender's Title
Relationship to Insider	None
Original Amount of Loan	80,621
Balance Due	27,271
Date of Note	2015-11
Maturity Date	2020-11
Repayment Terms	Monthly payment
Interest Rate	4.5
Security Provided by Borrower	Building & Land
Purpose of Loan	Property purchase
Description of Lender Consideration
Consideration FMV	0

Item No.	2
Lender's Name	Libertyville Savings Bank
Lender's Title
Relationship to Insider	None
Original Amount of Loan	208,723
Balance Due	48,869
Date of Note	2016-02
Maturity Date	2021-02
Repayment Terms	Monthly payment
Interest Rate	5.25
Security Provided by Borrower	Building & Land
Purpose of Loan	Refinance mortgage
Description of Lender Consideration
Consideration FMV	0

Item No.	3
Lender's Name	Libertyville Savings Bank
Lender's Title
Relationship to Insider	None
Original Amount of Loan	503,000
Balance Due	440,247
Date of Note	2020-03
Maturity Date	2023-04
Repayment Terms	Monthly Payment
Interest Rate	5.0
Security Provided by Borrower	Building & Land
Purpose of Loan	Construction
Description of Lender Consideration
Consideration FMV	0

Item No.	4
Lender's Name	Small Business Adm
Lender's Title
Relationship to Insider	None
Original Amount of Loan	126,100
Balance Due	125,561
Date of Note	2020-06
Maturity Date	2050-06
Repayment Terms	Mo pyt Jun 2021
Interest Rate	2.75
Security Provided by Borrower	None
Purpose of Loan	Operating Expenses
Description of Lender Consideration
Consideration FMV	0

Item No.	5
Lender's Name	Small Business Administration
Lender's Title
Relationship to Insider	None
Original Amount of Loan	2,000
Balance Due	0
Date of Note	2020-05
Maturity Date
Repayment Terms	Loan Forgiven
Interest Rate	0
Security Provided by Borrower
Purpose of Loan	Covid Payroll Protection
Description of Lender Consideration
Consideration FMV	0

Item No.	6
Lender's Name	Small Business Adm
Lender's Title
Relationship to Insider	None
Original Amount of Loan	16,800
Balance Due	0
Date of Note	2021-02
Maturity Date
Repayment Terms	Loan forgiven
Interest Rate	0
Security Provided by Borrower
Purpose of Loan	Covid-payroll protection loan
Description of Lender Consideration
Consideration FMV	0

- TIN:

TY 2022 OtherExpensesSchedule

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Dues & Subscriptions	59	59	59	0
TelephoneInternet	3,881	388	3,596	285
Finance Charges	448	0	420	28
Website	4,842	0	0	4,842
Bank Fees	8	0	7	1
Outside Contractors	9,500	0	0	9,500
Paypal fees	198	0	166	31
Bad Debt	8,024	0	8,024	0
Supplies	3,031	0	1,627	1,404
Fees	47	47	47	0
Misc	50	0	42	9

- TIN:

TY 2022 OtherIncomeSchedule2

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
Allen-Olsen LLC	7,585	7,585	7,585
Other Income	5	5	5

- TIN:

TY 2022 OtherIncreasesSchedule

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Description	Amount
AllenOlsenLLC Chg in Bk Tx diff	1,758

- TIN:

TY 2022 OtherLiabilitiesSchedule

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Description	Beginning of Year - Book Value	End of Year - Book Value
Security Deposit	7,260	5,170

- TIN:

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

TY 2022 OtherNotesLoansRcvblLongSch

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Borrower's Name	Relationship to Insider	Original Amount of Loan	Balance Due	Date of Note	Maturity Date	Repayment Terms	Interest Rate	Security Provided by Borrower	Purpose of Loan	Description of Lender Consideration	Consideration FMV
Chi-Land LLC	none	4,350	4,350	2022-12	2023-12		0 %		Rental deposit made to Chi-Land in error		4,350

- TIN:

TY 2022 SalesOfInventoryList

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Category	Gross Sales	Cost of Goods Sold	Net (Gross Sales Minus Cost of Goods Sold)
Math Games	33,567	10,395	23,172

- TIN:

TY 2022 TaxesSchedule

Name:

ACCELERATED LEARNING FOUNDATION

EIN:

38-3423350

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Prop tax N 3rd St	7,553	0	7,470	83
Prop tax W Grimes	7,629	7,629	7,629	0
2021 990-T	4,455	4,455	4,455	0