TY 2025 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.
Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2025

Open to Public Inspection

For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25

Name of foundation
BORN SCHOLARSHIP FUND

Number and street (or P.O. box number if mail is not delivered to street address) C/O FIRST AMERICAN BANK 218 W MAI
Room/suite

City or town
DUNDEE

State or province
IL

Country

ZIP or foreign postal code
60118

A Employer identification number

27-0823625

B Telephone number (see instructions)

8474266771

C If exemption application is pending, check here

G Check all that apply: Initial returnInitial return of a former public charity

Address change Name change

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

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

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

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 .......

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$1,543,198J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .................
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	27,531		27,508
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		73,450
b	Gross sales price for all assets on line 6a 214,939
7	Capital gain net income (from Part IV, line 2)...			73,450
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).......
12	Total. Add lines 1 through 11........	100,981		100,958
13	Compensation of officers, directors, trustees, etc.	17,712		8,856		8,856
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).......	List of Attached Documents: // Content	900	450	0	450
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	1,905	486		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).......	List of Attached Documents: // Content	15			15
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	20,532		9,792	0	9,321
25	Contributions, gifts, grants paid.......	65,000				65,000
26	Total expenses and disbursements. Add lines 24 and 25 ................	85,532		9,792	0	74,321
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	15,449
b	Net investment income (if negative, enter -0-)			91,166
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2025)

Form 990-PF (2025)

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.............
	2	Savings and temporary cash investments.........	40,380	49,967	49,967
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	848,286	855,041	1,493,231
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	888,666	905,008	1,543,198
	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 )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		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
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	888,666	905,008
	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).....	888,666	905,008
	30	Total liabilities and net assets/fund balances (see instructions).	888,666	905,008

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

888,666

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

15,449

Other increases not included in line 2 (itemize) Click to see attachment

List of Attached Documents:

// Content

893

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

905,008

Decreases not included in line 2 (itemize)

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

905,008

Form 990-PF (2025)

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	1949.261 JP MORGAN MANAGED INCOME INSTITUTIONAL		2022-04-07	2025-01-10
b	492.704 VANGUARD INTERMEDIATE TERM TREASURY INDEX FUND ADMIRAL SHARES		2023-04-21	2025-01-10
c	16. CONSTELLATION BRANDS INC - A		2023-12-22	2025-01-14
d	4. CONSTELLATION BRANDS INC - A		2024-03-04	2025-01-21
e	16. CONSTELLATION BRANDS INC - A		2019-02-12	2025-01-21
	10. VERALTO CORP.		2009-09-09	2025-01-28
	5. BROADCOM INC COM		2016-02-17	2025-02-14
	49. COMCAST CORP - CLASS A		2016-10-11	2025-02-14
	8. BOSTON SCIENTIFIC CORP COM		2022-09-21	2025-02-26
	2. CHART INDUSTRIES INC		2025-01-28	2025-03-06
	1. MONGODB INC		2025-01-28	2025-03-06
	1. ELI LILLY & CO COM		2021-03-03	2025-03-07
	3. APPLE INC.		2009-09-09	2025-03-12
	21. KNIGHT - SWIFT TRANSPORTATION		2021-11-18	2025-03-12
	16. KNIGHT - SWIFT TRANSPORTATION		2021-01-21	2025-03-14
	9. MONGODB INC		2025-01-30	2025-03-14
	6. APPLE INC.		2009-09-09	2025-03-17
	6. BROADCOM INC COM		2016-02-17	2025-03-17
	2. MICROSOFT CORP COM		2015-07-20	2025-03-31
	6. TEXAS INSTRS INC COM		2016-10-11	2025-04-01
	10. SPDR S&P REGIONAL BANKING ETF		2024-11-06	2025-04-03
	1. ELI LILLY & CO COM		2021-03-03	2025-04-09
	9. SPDR S&P REGIONAL BANKING ETF		2024-11-06	2025-04-11
	7. TEXAS INSTRS INC COM		2016-10-11	2025-04-11
	6. ZOETIS INC CL A		2022-04-08	2025-04-11
	1. SERVICENOW INC		2021-06-10	2025-04-21
	11. KNIGHT - SWIFT TRANSPORTATION		2024-07-30	2025-04-24
	39. KNIGHT - SWIFT TRANSPORTATION		2021-01-27	2025-04-24
	10. BROADCOM INC COM		2016-02-17	2025-05-16
	12. PEPSICO INC COM		2012-03-07	2025-05-23
	22. EASTMAN CHEM CO COM		2021-01-14	2025-05-30
	25. EASTMAN CHEM CO COM		2024-05-03	2025-06-03
	4. BROADCOM INC COM		2016-02-17	2025-06-25
	4. CINTAS CORPORATION		2016-10-11	2025-06-25
	6. VERTIV HOLDINGS CO		2023-06-15	2025-06-27
	9. EXXON MOBIL CORP COM		2015-07-20	2025-07-16
	21. UNITED HEALTH GROUP INC		2021-05-21	2025-07-18
	17. CHART INDUSTRIES INC		2025-07-03	2025-07-29
	5. VERTIV HOLDINGS CO		2023-06-15	2025-07-29
	1183.172 FEDERATED TOTAL RETURN BD FD #328 INSTL		2021-12-31	2025-07-31
	1404.092 JP MORGAN MANAGED INCOME INSTITUTIONAL		2022-04-07	2025-07-31
	17. ZOETIS INC CL A		2023-01-19	2025-08-08
	5. ACCENTURE PLC-CL A		2009-12-16	2025-08-08
	5. BROADCOM INC COM		2016-02-17	2025-08-15
	4. ABBVIE INC		2024-02-07	2025-08-20
	2. AIR PRODUCTS AND CHEMICALS INC		2019-12-20	2025-08-20
	15. ALPHABET INC CL-A		2014-01-15	2025-08-20
	12. AMAZON.COM INC.		2018-08-28	2025-08-20
	6. AMERICAN ELECTRIC POWER		2020-10-08	2025-08-20
	4. ANALOG DEVICES, INC.		2023-12-15	2025-08-20
	16. APPLE INC.		2024-05-13	2025-08-20
	2. APPLIED MATERIALS INC COM		2021-09-17	2025-08-20
	15. BANK OF AMERICA CORP COMMON		2024-04-03	2025-08-20
	2. BERKSHIRE HATHAWAY INC CLASS B		2018-08-17	2025-08-20
	4. BOEING CO COM		2022-09-15	2025-08-20
	8. BOSTON SCIENTIFIC CORP COM		2021-02-08	2025-08-20
	10. BROADCOM INC COM		2016-02-17	2025-08-20
	6. CMS ENERGY CORPORATION		2024-07-29	2025-08-20
	5. CINTAS CORPORATION		2016-10-11	2025-08-20
	3. CROWN CASTLE INC COM		2024-07-29	2025-08-20
	3. DANAHER CORPORATION		2009-09-09	2025-08-20
	3. DISNEY WALT CO COM		2012-07-17	2025-08-20
	7. EDWARDS LIFESCIENCES CORP COM		2023-02-02	2025-08-20
	6. EXXON MOBIL CORP COM		2015-07-20	2025-08-20
	3. META PLATFORMS INC CLASS A		2024-05-03	2025-08-20
	2. GOLDMAN SACHS GROUP INC		2024-07-30	2025-08-20
	3. HOME DEPOT INC		2016-10-11	2025-08-20
	4. INTERCONTINENTAL EXCHANGE INC		2024-07-10	2025-08-20
	5. JP MORGAN CHASE & CO COMMON		2021-09-17	2025-08-20
	3. ELI LILLY & CO COM		2021-05-21	2025-08-20
	3. MARSH & MCLENNAN COS INC COM		2016-10-11	2025-08-20
	3. MARRIOTT INTL INC CL A		2020-12-04	2025-08-20
	9. MICROSOFT CORP COM		2024-04-12	2025-08-20
	9. MONDELEZ INTERNATIONAL INC		2020-06-19	2025-08-20
	1. NORTHROP GRUMMAN CORP		2021-03-19	2025-08-20
	28. NVIDIA CORPORATION COMMON		2021-12-15	2025-08-20
	3. PNC FINANCIAL SERVICES GROUP		2009-09-09	2025-08-20
	4. PALO ALTO NETWORKS INC		2021-07-16	2025-08-20
	3. PEPSICO INC COM		2012-03-07	2025-08-20
	4. PROCTER & GAMBLE CO COM		2023-05-18	2025-08-20
	4. PROLOGIS INC		2023-12-29	2025-08-20
	3. REPUBLIC SERVICES INC COMMON		2022-07-01	2025-08-20
	6. SPDR S&P REGIONAL BANKING ETF		2025-07-03	2025-08-20
	9. SCHWAB (CHARLES) CORP COM		2023-12-14	2025-08-20
	1. SERVICENOW INC		2021-06-10	2025-08-20
	1. SYNOPSYS INC.		2025-05-16	2025-08-20
	7. TJX COMPANIES INC COM		2024-05-03	2025-08-20
	2. THERMO FISHER SCIENTIFIC		2023-12-29	2025-08-20
	2. UNION PAC CORP COM		2016-02-26	2025-08-20
	1. UNITED HEALTH GROUP INC		2016-10-11	2025-08-20
	6. VERTIV HOLDINGS CO		2022-04-01	2025-08-20
	5. VISA INC. COMMON - CLASS A		2009-10-02	2025-08-20
	2. VISTRA ENERGY CORPORATION		2024-10-02	2025-08-20
	8. WALMART INC COM		2024-07-10	2025-08-20
	2. ACCENTURE PLC-CL A		2009-12-16	2025-08-20
	2. EATON CORP PLC		2022-11-02	2025-08-20
	1. TRANE TECHNOLOGIES PLC		2018-12-28	2025-08-20
	9. NVIDIA CORPORATION COMMON		2021-12-15	2025-08-22
	10. WORKDAY INC - CLASS A		2023-03-31	2025-08-22
	3. BROADCOM INC COM		2016-02-17	2025-09-05
	48. CROWN CASTLE INC COM		2024-07-29	2025-09-05
	4. SYNOPSYS INC.		2025-06-13	2025-09-10
	4. BROADCOM INC COM		2016-02-17	2025-09-12
	8. ACCENTURE PLC-CL A		2009-12-16	2025-09-12
	6. BROADCOM INC COM		2016-02-17	2025-09-18
	11. BOSTON SCIENTIFIC CORP COM		2021-02-08	2025-09-19
	13. MERCK & CO INC NEW		2025-04-03	2025-09-19
	10. MERCK & CO INC NEW		2025-04-03	2025-09-25
	15. CHEVRON CORP NEW COM		2016-10-11	2025-09-29
	9. CINTAS CORPORATION		2016-10-11	2025-10-16
	4. BROADCOM INC COM		2016-02-17	2025-10-20
	2. BERKSHIRE HATHAWAY INC CLASS B		2018-08-17	2025-10-28
	.5 SOLSTICE ADVANCED MATERIALS INC.		2016-10-11	2025-10-30
	3. META PLATFORMS INC CLASS A		2023-10-26	2025-10-31
	1. ELI LILLY & CO COM		2020-12-17	2025-11-03
	3. BROADCOM INC COM		2016-02-17	2025-12-05
	26. AIR PRODUCTS AND CHEMICALS INC		2018-08-17	2025-12-16
	5. VANGUARD UTILITIES ETF		2025-02-21	2025-12-16
	12. VANGUARD UTILITIES ETF		2024-05-30	2025-12-16
	9. PROLOGIS INC		2022-07-28	2025-12-18
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(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	19,532	19,395	137
b	9,568	9,994	-426
c	2,902	2,966	-64
d	728	990	-262
e	2,911	2,739	172
	1,033	88	945
	1,164	65	1,099
	1,727	1,594	133
	815	316	499
	290	411	-121
	195	282	-87
	872	203	669
	651	19	632
	967	1,143	-176
	736	683	53
	1,679	2,514	-835
	1,290	37	1,253
	1,178	78	1,100
	746	94	652
	1,054	410	644
	524	657	-133
	747	203	544
	441	572	-131
	1,043	478	565
	891	1,202	-311
	750	488	262
	431	598	-167
	1,527	1,646	-119
	2,282	130	2,152
	1,546	747	799
	1,712	2,334	-622
	2,008	2,340	-332
	1,058	52	1,006
	877	109	768
	762	135	627
	1,014	736	278
	5,905	4,127	1,778
	3,370	3,405	-35
	716	97	619
	11,157	12,741	-1,584
	14,083	13,971	112
	2,510	3,229	-719
	1,196	208	988
	1,528	65	1,463
	834	701	133
	585	400	185
	2,995	432	2,563
	2,689	1,165	1,524
	681	537	144
	978	805	173
	3,623	1,003	2,620
	320	281	39
	725	563	162
	978	416	562
	903	599	304
	849	314	535
	2,899	130	2,769
	438	382	56
	1,085	137	948
	307	323	-16
	632	66	566
	350	149	201
	565	586	-21
	652	491	161
	2,240	1,192	1,048
	1,441	1,013	428
	1,209	378	831
	725	574	151
	1,464	792	672
	2,110	600	1,510
	633	197	436
	792	405	387
	4,558	1,545	3,013
	566	464	102
	593	311	282
	4,891	834	4,057
	581	123	458
	737	261	476
	451	187	264
	637	607	30
	440	538	-98
	707	265	442
	371	382	-11
	859	632	227
	884	488	396
	596	516	80
	975	664	311
	989	1,064	-75
	450	162	288
	298	135	163
	762	89	673
	1,725	85	1,640
	384	249	135
	819	559	260
	512	83	429
	688	289	399
	424	71	353
	1,601	246	1,355
	2,201	1,594	607
	1,006	39	967
	4,619	4,545	74
	1,556	1,856	-300
	1,437	52	1,385
	1,952	332	1,620
	2,080	78	2,002
	1,071	432	639
	1,057	1,139	-82
	778	876	-98
	2,341	1,547	794
	1,662	246	1,416
	1,411	52	1,359
	965	416	549
	24	12	12
	1,946	865	1,081
	900	173	727
	1,168	39	1,129
	6,311	4,323	1,988
	930	866	64
	2,232	1,852	380
	1,150	1,177	-27
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487
			8,487

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			137
b			-426
c			-64
d			-262
e			172
			945
			1,099
			133
			499
			-121
			-87
			669
			632
			-176
			53
			-835
			1,253
			1,100
			652
			644
			-133
			544
			-131
			565
			-311
			262
			-167
			-119
			2,152
			799
			-622
			-332
			1,006
			768
			627
			278
			1,778
			-35
			619
			-1,584
			112
			-719
			988
			1,463
			133
			185
			2,563
			1,524
			144
			173
			2,620
			39
			162
			562
			304
			535
			2,769
			56
			948
			-16
			566
			201
			-21
			161
			1,048
			428
			831
			151
			672
			1,510
			436
			387
			3,013
			102
			282
			4,057
			458
			476
			264
			30
			-98
			442
			-11
			227
			396
			80
			311
			-75
			288
			163
			673
			1,640
			135
			260
			429
			399
			353
			1,355
			607
			967
			74
			-300
			1,385
			1,620
			2,002
			639
			-82
			-98
			794
			1,416
			1,359
			549
			12
			1,081
			727
			1,129
			1,988
			64
			380
			-27

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	73,450
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 .........................		3

Part V

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	1,267
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	1,267
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	1,267
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	1,200
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	1,200
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.......		9	67
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 2026 estimated tax0	Refunded	11	0
	For Refunded amount, also complete and attach Form 8050. See instructions.

Form 990-PF (2025)

Page 4

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. $ (2) On foundation managers.$

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

on foundation managers.$

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

and Part 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 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.

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

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

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

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 addressN/A

The books are in care ofFIRST AMERICAN BANK Telephone no. (847) 426-6771

Located at218 W MAIN STDUNDEEIL ZIP+4601182093

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

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

16 At any time during calendar year 2025, 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

Form 990-PF (2025)

Page 5

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 ........

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 2025? .............

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 2025, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2025?....................

If "Yes," list the years 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 2025 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 Form 4720, Schedule C, to determine

if the foundation had excess business holdings in 2025.).....................

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 2025? ..

Form 990-PF (2025)

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 .........

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-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
FIRST AMERICAN BANK	TRUSTEE 5	17,712
218 W MAIN ST DUNDEE,IL60118	TRUSTEE 5	17,712

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 (2025)

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


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	N/A
2


All other program-related investments. See instructions.
3

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

Form 990-PF (2025)

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

1,439,260

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

40,497

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

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

1,479,757

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

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

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

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

1,479,757

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

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

22,196

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

1,457,561

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

72,878

Part X

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)

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

72,878

Tax on investment income for 2025 from Part V, line 5 .......

1,267

Income tax for 2025. (This does not include the tax from Part V.) ...

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

1,267

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

71,611

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

828

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

72,439

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

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

72,439

Part XI

Qualifying Distributions (see instructions)

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

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

74,321

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. .......

74,321

Form 990-PF (2025)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2024	(c) 2024	(d) 2025
1 Distributable amount for 2025 from Part X, line 7					72,439
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......				0
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2025:
a From 2020......	0
b From 2021......	0
c From 2022......	3,752
d From 2023......	0
e From 2024......	4,353
f Total of lines 3a through e ........		8,105
4Qualifying distributions for 2025 from Part
XI, line 4: $ 74,321
a Applied to 2024, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions) .....			0
c Treated as distributions out of corpus (Election required—see instructions) ........		0
d Applied to 2025 distributable amount.....					72,439
e Remaining amount distributed out of corpus		1,882
5 Excess distributions carryover applied to 2025.		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		9,987
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 2024. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2025. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2026 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2020 not applied on line 5 or line 7 (see instructions) ...		0
9 Excess distributions carryover to 2026. Subtract lines 7 and 8 from line 6a ......		9,987
10 Analysis of line 9:
a Excess from 2021 ....	0
b Excess from 2022 ....	3,752
c Excess from 2023 ....	0
d Excess from 2024 ....	4,353
e Excess from 2025 ....	1,882

Form 990-PF (2025)

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 2025, enter the date of the ruling ......

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) 2025	(b) 2024	(c) 2023	(d) 2022	(e) Total

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, 3b, or 3c 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 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, 2b, 2c, and 2d. 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 (2025)

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
SEE ATTACHED LIST OF SCHOLARSHIP RECIPIENTS 218 W MAIN STREET DUNDEE,IL60118	NONE		SCHOLARSHIPS	65,000
Total ................................. 3a				65,000

bApproved for future payment

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

Form 990-PF (2025)

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 ...........
4 Dividends and interest from securities ....			14	27,531
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	73,450
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) ..				100,981

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

100,981

(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.)

Form 990-PF (2025)

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	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 (2025)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2025 AccountingFeesSchedule

Name:

BORN SCHOLARSHIP FUND

EIN:

27-0823625

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	900	450		450

- TIN:

TY 2025 OtherExpensesSchedule

Name:

BORN SCHOLARSHIP FUND

EIN:

27-0823625

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
OTHER ALLOCABLE EXPENSE-PRINCI	15	0		15

- TIN:

TY 2025 OtherIncreasesSchedule

Name:

BORN SCHOLARSHIP FUND

EIN:

27-0823625

Description	Amount
MUTUAL FUND TIMING	893

- TIN:

TY 2025 TaxesSchedule

Name:

BORN SCHOLARSHIP FUND

EIN:

27-0823625

Category	Amount	Net Investment Income
FOREIGN TAXES	100	100
FEDERAL TAX PAYMENT - PRIOR YE	219	0
FEDERAL ESTIMATES - PRINCIPAL	1,200	0
FOREIGN TAXES ON QUALIFIED FOR	386	386