CHICAGO FREEDOM TRUST: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization: CHICAGO FREEDOM TRUST (EIN 26-4123223)
Tax period: 2021-01-01 to 2021-12-31
Filed: 2022-06-29
IRS object ID: 202231809349100908
Schema version: 2021v4.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990-PF
Schedule B
Accounting Fees Schedule
General Explanation Attachment
Other Expenses Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2022-06-29T11:52:53-07:00	ReturnTs
Tax Period End	2021-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	363994819	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	DAVID A HAFFT & CO LTD	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	300 VILLAGE GREEN DR SUITE 214	AddressLine1Txt
City	LINCOLNSHIRE	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60069	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2021-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	264123223	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	CHICAGO FREEDOM TRUST	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	CHIC	BusinessNameControlTxt
Phone	7082882272	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	328 W WISCONSIN ST	AddressLine1Txt
City	CHICAGO	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60614	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	LEONARD LEO	PersonNm
Person Title	CHAIRMAN	PersonTitleTxt
Phone	7082882272	PhoneNum
Signature	2022-06-29	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	LEONARD	PersonFirstNm
Person Last	LEO	PersonLastNm

Field	Value	IRS element (for citing)
SSN	XXX-XX-XXXX	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	DAVID A HAFFT	PreparerPersonNm
PTIN	P01232364	PTIN
Phone	8479138006	PhoneNum
Preparation	2022-06-29	PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	3	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd
Federated Assurance Level	FAL1	FederatedAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2021	TaxYr
Build TS	2022-09-23 18:48:47Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$8,791	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Rcvd Rev And Expnss	$25,000	ContriRcvdRevAndExpnssAmt
Cap Gain Net Incm Net Invst Incm	$0	CapGainNetIncmNetInvstIncmAmt
Gross Profit Rev And Expnss	$0	GrossProfitRevAndExpnssAmt
Other Income Rev And Expnss	$0	OtherIncomeRevAndExpnssAmt
Total Rev And Expnss	$25,000	TotalRevAndExpnssAmt
Total Net Invst Incm	$0	TotalNetInvstIncmAmt
Legal Fees Rev And Expnss	$0	LegalFeesRevAndExpnssAmt
Accounting Fees Rev And Expnss	$625	AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps	$625	AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss	$0	OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss	$0	TaxesRevAndExpnssAmt
Deprec And Dpltn Rev And Expnss	$0	DeprecAndDpltnRevAndExpnssAmt
Other Expenses Rev And Expnss	$15	OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl	$15	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$640	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$640	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$20,000	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$20,000	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$20,640	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$20,640	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$4,360	ExcessRevenueOverExpensesAmt
Net Investment Income	$0	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$4,431	CashBOYAmt
Cash EOY	$8,791	CashEOYAmt
Cash EOYFMV	$8,791	CashEOYFMVAmt
Rcvbl From Officers EOY	$0	RcvblFromOfficersEOYAmt
Other Nts And Loans Rcvbl EOY	$0	OtherNtsAndLoansRcvblEOYAmt
Land Bldg Investments EOY	$0	LandBldgInvestmentsEOYAmt
Other Investments EOY	$0	OtherInvestmentsEOYAmt
Land EOY	$0	LandEOYAmt
Other Assets BOY	$0	OtherAssetsBOYAmt
Other Assets EOY	$0	OtherAssetsEOYAmt
Other Assets EOYFMV	$0	OtherAssetsEOYFMVAmt
Total Assets BOY	$4,431	TotalAssetsBOYAmt
Total Assets EOY	$8,791	TotalAssetsEOYAmt
Total Assets EOYFMV	$8,791	TotalAssetsEOYFMVAmt
Loans From Officers EOY	$0	LoansFromOfficersEOYAmt
Mortgages And Notes Payable EOY	$0	MortgagesAndNotesPayableEOYAmt
Other Liabilities BOY	$0	OtherLiabilitiesBOYAmt
Other Liabilities EOY	$0	OtherLiabilitiesEOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind
Retained Earning BOY	$4,431	RetainedEarningBOYAmt
Retained Earning EOY	$8,791	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$4,431	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$8,791	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$4,431	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$8,791	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$4,431	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$4,360	ExcessRevenueOverExpensesAmt
Subtotal	$8,791	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$8,791	TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$0	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Subtotal	$0	SubtotalAmt
Tax Based On Investment Income	$0	TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid	$0	ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits	$0	TotalPaymentsAndCreditsAmt
Tax Due	$0	TaxDueAmt
Applied To ES Tax	$0	AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	false	LegislativePoliticalActyInd
More Than100 Spent	false	MoreThan100SpentInd
Form1120 POL Filed	false	Form1120POLFiledInd
Activities Not Previously Rpt	false	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (true)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (true)	AtLeast5000InAssetsInd
Form990 PF Filed With Atty Gen	false	Form990PFFiledWithAttyGenInd
Private Operating Foundation	false	PrivateOperatingFoundationInd
New Substantial Contributors	false	NewSubstantialContributorsInd
Own Controlled Entity	false	OwnControlledEntityInd
Donor Advised Fund	false	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (true)	ComplyWithPublicInspRqrInd
Website Address	N/A	WebsiteAddressTxt
Individual With Books	LEONARD LEO	IndividualWithBooksNm
Phone	7082882272	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	328 W WISCONSIN C-1	AddressLine1Txt
City	CHICAGO	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60614	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	false	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	false	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	false	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	false	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	false	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
Uncorrected Prior Acts	false	UncorrectedPriorActsInd
Undistributed Income PY	false	UndistributedIncomePYInd
Business Holdings	false	BusinessHoldingsInd
Jeopardy Investments	false	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	false	UncorrectedPYJeopardyInvstInd
Influence Legislation	false	InfluenceLegislationInd
Influence Election	false	InfluenceElectionInd
Grants To Individuals	false	GrantsToIndividualsInd
Grants To Organizations	false	GrantsToOrganizationsInd
Noncharitable Purpose	false	NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (5 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
ADAM MEYERSON
328 W WISCONSIN ST C-1	CHICAGO	IL	60614	CO-TRUSTEE	0.50	$0	$0	$0
JOSEPH G LEHMAN
328 W WISCONSIN ST C-1	CHICAGO	IL	60614	CO-TRUSTEE	0.50	$0	$0	$0
LEONARD LEO
328 W WISCONSIN ST C-1	CHICAGO	IL	60614	PRIMARY TRUSTTE & CO-TRUSTEE	0.50	$0	$0	$0
LESLIE GRAVES
328 W WISCONSIN ST C-1	CHICAGO	IL	60614	CO-TRUSTEE	0.50	$0	$0	$0
TRACIE SHARP
328 W WISCONSIN ST C-1	CHICAGO	IL	60614	CO-TRUSTEE	0.50	$0	$0	$0

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k	0	OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k	0	ContractorPaidOver50kCnt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$0	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$4,534	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$4,534	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast	$4,534	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$68	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$4,466	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$223	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$223	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$0	TaxBasedOnInvestmentIncomeAmt
Total Tax	$0	TotalTaxAmt
Distributable Before Adj	$223	DistributableBeforeAdjAmt
Distributable Before Ded	$223	DistributableBeforeDedAmt
Distributable As Adjusted	$223	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$20,640	ExpensesAndContributionsAmt
Qualifying Distributions	$20,640	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$223	DistributableAsAdjustedAmt
Undistributed Income PY	$0	UndistributedIncomePYAmt
Excess Distribution Cyov Yr5	$0	ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4	$0	ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3	$0	ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2	$12,000	ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1	$0	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$12,000	TotalExcessDistributionCyovAmt
Qualifying Distributions	$20,640	QualifyingDistributionsAmt
Treated As Distri From Corpus	$0	TreatedAsDistriFromCorpusAmt
Applied To Current Year	$223	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$20,417	RemainingDistriFromCorpusAmt
Total Corpus	$32,417	TotalCorpusAmt
Prior Year Undistributed Incm	$0	PriorYearUndistributedIncmAmt
Taxable1	$0	Taxable1Amt
Taxable2	$0	Taxable2Amt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5	$0	ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr	$32,417	ExcessDistriCyovToNextYrAmt
Excess From Year4	$0	ExcessFromYear4Amt
Excess From Year3	$0	ExcessFromYear3Amt
Excess From Year2	$12,000	ExcessFromYear2Amt
Excess From Year1	$0	ExcessFromYear1Amt
Excess From Current Year	$20,417	ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	none	ContributingManagerNm
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (10 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
INSTITUTE FOR JUSTICE
901 N GLEBE RD	ARLINGTON	VA	22203	PC	CLINIC ON ENTERPRENEURSHIPAT UNIV OF CHICAGO	$2,000
MEALS ON WHEELS OF CONTRA COSTA
PO BOX 3195	MARTINEZ	CA	94553	PC	MEALS FOR HOMEBOUND	$2,000
MEDSTAR NATL REHABILITATION NETWORK
102 IRVING ST NW	WASHINGTON	DC	20010	PC	SPORTS PROGRAMS'REHAB SERVICES	$2,000
WORLD ORPHAN FUND
N7130 NORTH LOST LAKE RD	RANDOLPH	WI	53956	PC	PROVIDINGASSISTANCE TO ORPHANED CHILDREN	$2,000
CHEMINISTRY - ROBOTICS
1912 DILLOWAY DR	MIDLAND	MI	48640	PC	INTRODUCE STUDENTSTO ENGINEERING, PROGRAMMING,PROBLEM SOLVING	$2,000
CHICAGO HOPE ACADEMY
2189 W BOWLER ST	CHICAGO	IL	60612	PC	SCHOOL GRANT	$2,000
CHEMINISTRY - DEBATE CLUB
1912 DILLOWAY DR	MIDLAND	MI	48640	PC	SPEECH & DEBATERHETORICAL SKILLSFOR STUDENTS	$2,000
CENTER FOR URBAN TEACHING
2600 W WISCONSIN AVE	MIKWAUKEE	WI	53233	PC	IDENTIFY, PREPARE ANDSUPPORT HIGH-PERFORMINGURBAN TEACHERS	$2,000
WENATCHEE VALLEY MUSEUM
127 S MISSION ST	WENATCHEE	CA	98801	PC	PRESERVING & PRESENTINGHISTORY OF COMMUNITIES	$2,000
MUSTARD SEED COMMUNITIES
29 JANES AVE	MEDFIELD	MA	02052	PC	PROVIDING BASICCARE FOR VULNERABLECOMMUNITIES	$2,000

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$20,000	TotalGrantOrContriPdDurYrAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	false	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	false	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	false	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	false	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	false	ReimbursementArrangementsInd
Loans Or Loan Guarantees	false	LoansOrLoanGuaranteesInd
Performance Of Services Etc	false	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	false	RelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
General Rule	Yes (X)	GeneralRuleInd

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	1	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	THE 85 FUND	BusinessNameLine1Txt

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	3220 N STREET NW STE 500	AddressLine1Txt
City	WASHINGTON	CityNm
State Abbreviation	DC	StateAbbreviationCd
ZIP	20007	ZIPCd

Field	Value	IRS element (for citing)
Total Contributions	$25,000	TotalContributionsAmt
Person Contribution	Yes (X)	PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Field	Value	IRS element (for citing)
Category	DAVID HAFFT & CO LTD TAX RETURN PREP	CategoryTxt
Amt	$625	Amt
Disbursements Charitable Prps	$625	DisbursementsCharitablePrpsAmt

General Explanation Attachment GeneralExplanationAttachment

General Explanation GeneralExplanationGrp

Field	Value	IRS element (for citing)
Form And Line Reference	PAGE 4, PART VII-A, LINE 8B	FormAndLineReferenceDesc
Medium Explanation	Not required to register or file reports in Utah or any other state.	MediumExplanationTxt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

Field	Value	IRS element (for citing)
Desc	BANK FEE	Desc
Revenue And Expenses Per Books	$15	RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps	$15	DisbursementsCharitablePrpsAmt