<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2021v4.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2022-09-09T14:34:38-04:00</ReturnTs>
    <TaxPeriodEndDt>2021-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>364068842</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>FERRENTINO &amp; KROLL CPA'S LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>1 NORTHFIELD PLAZA STE 455</AddressLine1Txt>
        <CityNm>NORTHFIELD</CityNm>
        <StateAbbreviationCd>IL</StateAbbreviationCd>
        <ZIPCd>600931272</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990EZ</ReturnTypeCd>
    <TaxPeriodBeginDt>2021-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>300566817</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>ITALIAN AMERICAN EXECUTIVES OF</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>TRANSPORATATION - CHARITABLE FDN</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>ITAL</BusinessNameControlTxt>
      <PhoneNum>7082121051</PhoneNum>
      <USAddress>
        <AddressLine1Txt>3800 W DIVISION</AddressLine1Txt>
        <CityNm>STONE PARK</CityNm>
        <StateAbbreviationCd>IL</StateAbbreviationCd>
        <ZIPCd>60165</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>VITO D'AMBROSIO</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>7082121051</PhoneNum>
      <SignatureDt>2022-08-30</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>VITO</PersonFirstNm>
        <PersonLastNm>DAMBROSIO</PersonLastNm>
      </PersonFullName>
      <SSN>XXX-XX-XXXX</SSN>
    </SigningOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>JOHN L FERRENTINO CPA</PreparerPersonNm>
      <PTIN>P00010558</PTIN>
      <PhoneNum>8474467400</PhoneNum>
      <PreparationDt>2022-09-01</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2021</TaxYr>
    <BuildTS>2023-04-26 12:10:37Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="3">
    <IRS990EZ documentId="RetDoc1" referenceDocumentId="RetDoc2">
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
      <WebsiteAddressTxt>IAET-CHICAGO.ORG</WebsiteAddressTxt>
      <Organization501c3Ind referenceDocumentId="RetDoc3">X</Organization501c3Ind>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <GrossReceiptsAmt>73244</GrossReceiptsAmt>
      <InfoInScheduleOPartIInd>X</InfoInScheduleOPartIInd>
      <ContributionsGiftsGrantsEtcAmt>73231</ContributionsGiftsGrantsEtcAmt>
      <InvestmentIncomeAmt>13</InvestmentIncomeAmt>
      <TotalRevenueAmt>73244</TotalRevenueAmt>
      <GrantsAndSimilarAmountsPaidAmt>42200</GrantsAndSimilarAmountsPaidAmt>
      <OtherExpensesTotalAmt>38</OtherExpensesTotalAmt>
      <TotalExpensesAmt>42238</TotalExpensesAmt>
      <ExcessOrDeficitForYearAmt>31006</ExcessOrDeficitForYearAmt>
      <NetAssetsOrFundBalancesBOYAmt>67788</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>98794</NetAssetsOrFundBalancesEOYAmt>
      <CashSavingsAndInvestmentsGrp>
        <BOYAmt>67788</BOYAmt>
        <EOYAmt>98794</EOYAmt>
      </CashSavingsAndInvestmentsGrp>
      <Form990TotalAssetsGrp>
        <BOYAmt>67788</BOYAmt>
        <EOYAmt>98794</EOYAmt>
      </Form990TotalAssetsGrp>
      <NetAssetsOrFundBalancesGrp>
        <BOYAmt>67788</BOYAmt>
        <EOYAmt>98794</EOYAmt>
      </NetAssetsOrFundBalancesGrp>
      <InfoInScheduleOPartIIIInd>X</InfoInScheduleOPartIIIInd>
      <PrimaryExemptPurposeTxt>TO ASSIST IN EDUCATIONAL PROGRAMS AND EDUCATIONAL ACTIVITIES TO BE OF CHARITABLE ASSISTENCE WHENEVER POSSIBLE TO ITALIAN-AMERICAN GROUPS AND OTHER WORTHWHILE ORGANIZATIONS TO PROMOTE PERSONAL ACQUAINTANCES AND FRIENDLY RELATIONS BETWEEN ITS MEMBERS AND TO ENHANCE THE IMAGE OF ITALIAN AMERICANS IN THE COMMUNITY TO PROMOTE AND ENHANCE CULTURAL AWARENESS</PrimaryExemptPurposeTxt>
      <ProgramSrvcAccomplishmentGrp>
        <DescriptionProgramSrvcAccomTxt>TO PROVIDE SCHOLARSHIP ASSISTENCE TO QUALIFIED APPLICANTS THAT APPLY AND CAN DEMONSTRATE THE NEED FOR FINANCIAL ASSISTENCE</DescriptionProgramSrvcAccomTxt>
        <GrantsAndAllocationsAmt>42200</GrantsAndAllocationsAmt>
        <ProgramServiceExpensesAmt>42200</ProgramServiceExpensesAmt>
      </ProgramSrvcAccomplishmentGrp>
      <TotalProgramServiceExpensesAmt>42200</TotalProgramServiceExpensesAmt>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>VITO D'AMBROSIO</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>CARL FERRARO</PersonNm>
        <TitleTxt>VICE PRESIDE</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>CATHLEEN LANGE</PersonNm>
        <TitleTxt>TREASURER</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>JOHN FERRENTINO</PersonNm>
        <TitleTxt>FINANCIAL SE</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>NANCY KENEFICK</PersonNm>
        <TitleTxt>RECORDING SE</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>WAYNE BUBAK</PersonNm>
        <TitleTxt>SERGEANT AT</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>VITO P CALI</PersonNm>
        <TitleTxt>CHAIRMAN OF</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>AL COMELLA</PersonNm>
        <TitleTxt>VICE CHAIRMA</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
      <ChgMadeToOrgnzngDocNotRptInd>false</ChgMadeToOrgnzngDocNotRptInd>
      <OrganizationHadUBIInd>false</OrganizationHadUBIInd>
      <SubjectToProxyTaxInd>false</SubjectToProxyTaxInd>
      <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
      <Form1120PolFiledInd>false</Form1120PolFiledInd>
      <MadeLoansToFromOfficersInd>false</MadeLoansToFromOfficersInd>
      <EngagedInExcessBenefitTransInd>false</EngagedInExcessBenefitTransInd>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <StatesWhereCopyOfReturnIsFldCd>IL</StatesWhereCopyOfReturnIsFldCd>
      <BooksInCareOfDetail>
        <PersonNm>VITO D'AMBROSIO</PersonNm>
        <USAddress>
          <AddressLine1Txt>3800 W DIVISION</AddressLine1Txt>
          <CityNm>STONE PARK</CityNm>
          <StateAbbreviationCd>IL</StateAbbreviationCd>
          <ZIPCd>60165</ZIPCd>
        </USAddress>
        <PhoneNum>7082121051</PhoneNum>
      </BooksInCareOfDetail>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <DonorAdvisedFndsInd>false</DonorAdvisedFndsInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <TanningServicesProvidedInd>false</TanningServicesProvidedInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TransactionWithControlEntInd>false</TransactionWithControlEntInd>
      <PoliticalCampaignActyInd>false</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>false</LobbyingActivitiesInd>
      <SchoolOperatingInd>false</SchoolOperatingInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>false</TrnsfrExmptNonChrtblRltdOrgInd>
      <PartVIOfCompOfHghstPdEmplTxt>NONE</PartVIOfCompOfHghstPdEmplTxt>
      <PartVIHghstPdCntrctProfSrvcTxt>NONE</PartVIHghstPdCntrctProfSrvcTxt>
      <FiledScheduleAInd>true</FiledScheduleAInd>
    </IRS990EZ>
    <IRS990ScheduleA documentId="RetDoc3">
      <PubliclySupportedOrg509a2Ind>X</PubliclySupportedOrg509a2Ind>
      <GiftsGrantsContrisRcvd509Grp>
        <CurrentTaxYearMinus4YearsAmt>54915</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>48195</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>57480</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>8600</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>73231</CurrentTaxYearAmt>
        <TotalAmt>242421</TotalAmt>
      </GiftsGrantsContrisRcvd509Grp>
      <GrossReceiptsAdmissionsGrp>
        <CurrentTaxYearMinus4YearsAmt>8</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>10</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>9</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>10</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>13</CurrentTaxYearAmt>
        <TotalAmt>50</TotalAmt>
      </GrossReceiptsAdmissionsGrp>
      <Total509Grp>
        <CurrentTaxYearMinus4YearsAmt>54923</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>48205</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>57489</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>8610</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>73244</CurrentTaxYearAmt>
        <TotalAmt>242471</TotalAmt>
      </Total509Grp>
      <PublicSupportTotal509Amt>242471</PublicSupportTotal509Amt>
      <TotalSupportCalendarYearGrp>
        <CurrentTaxYearMinus4YearsAmt>54923</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>48205</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>57489</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>8610</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>73244</CurrentTaxYearAmt>
        <TotalAmt>242471</TotalAmt>
      </TotalSupportCalendarYearGrp>
      <PublicSupportCY509Pct>1.00000</PublicSupportCY509Pct>
      <PublicSupportPY509Pct>1.00000</PublicSupportPY509Pct>
      <InvestmentIncomeCYPct>0.00000</InvestmentIncomeCYPct>
      <InvestmentIncomePYPct>0.00000</InvestmentIncomePYPct>
      <ThirtyThrPctSuprtTestsCY509Ind>X</ThirtyThrPctSuprtTestsCY509Ind>
    </IRS990ScheduleA>
    <IRS990ScheduleO documentId="RetDoc2">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990-EZ, PART I, LINE 10</FormAndLineReferenceDesc>
        <ExplanationTxt>CASH CONTRIBUTION: 42,200 RELATIONSHIP: QUALIFIED APPLICANT</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990-EZ, PART I, LINE 16</FormAndLineReferenceDesc>
        <ExplanationTxt>EXPENSES 38 TOTAL 38</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990-EZ, PART III</FormAndLineReferenceDesc>
        <ExplanationTxt>TO ASSIST IN EDUCATIONAL PROGRAMS AND EDUCATIONAL ACTIVITIES TO BE OF CHARITABLE ASSISTENCE WHENEVER POSSIBLE TO ITALIAN-AMERICAN GROUPS AND OTHER WORTHWHILE ORGANIZATIONS TO PROMOTE PERSONAL ACQUAINTANCES AND FRIENDLY RELATIONS BETWEEN ITS MEMBERS AND TO ENHANCE THE IMAGE OF ITALIAN AMERICANS IN THE COMMUNITY TO PROMOTE AND ENHANCE CULTURAL AWARENESS</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>
