Fortune Education Foundation Inc
Fortune Education Foundation Inc is a private foundation based in Rahway, New Jersey. Its 2024 filing reports grants for college education to individual recipients.
Fortune Education Foundation Inc at a glance
In short: Fortune Education Foundation Inc gave $64K across 10 grants in 2024 (avg $6K), top state New Jersey. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $64,200
- -13.5% vs 2023
- Grants made (2024)
- 10
- -9.1% vs 2023
- Average grant
- $6,420
- -4.8% vs 2023
- Median grant
- $5,000
- Total assets
- $1,632,245
- -3.0% vs 2023
- Primary geography
- New Jersey (47% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
How to apply to Fortune Education Foundation Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. The filing lists an individual recipient as the contact and says forms and materials and award restrictions are N/A.
- Contact
Application contact: Frances Wong
Mailing address: 14 Thoreau Drive, South Easton, MA 02375
Phone: (401) 330-0360
Website: HTTP://WWW.FORTUNEEDUCATION.ORG/
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Fortune Education Foundation Inc funds
How this funder distributes its grants
Grant Size Distribution
51 grants across all recorded years
The most common grant size was under $50K: 51 grants of 51 (100%).
Geographic Focus
Where this funder awards grants
The 2024 filing reports grant dollars going to recipients in New Jersey (47%), California (30%), Illinois (16%), and New York (8%).
Grant Distribution by State
Share of 2024 grant dollars across all 10 itemized grants.
Cities
How Fortune Education Foundation Inc gives
- Giving held roughly steady from 2021 to 2024 (−12%). Method
- In 2024 it paid out 81% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $60K (2022) to $74K (2023). In 2024 it made 10 grants totaling $64K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 10 grants to individuals Recipients not named | — | $64,200 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $1,632,245 | $22,252 | $72,852 | $64,200 | 10 | $64,200 | $22,252 | $79,677 |
| 2023 | $1,682,845 | $30,868 | $90,651 | $74,200 | 11 | $74,200 | $30,868 | $79,127 |
| 2022 | $1,742,628 | $434,480 | $78,591 | $60,000 | 9 | $60,000 | $34,480 | $59,054 |
| 2021 | $1,386,739 | $540,313 | $85,520 | $73,000 | 11 | $73,000 | $40,313 | $43,393 |
| 2020 | $931,946 | $503,223 | $79,769 | $68,000 | 10 | — | $3,223 | $26,063 |
Under IRS private-foundation payout rules, Fortune Education Foundation Inc reported a distributable amount of $80K for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Grantmaking
In 2024, the foundation gave $64,200 through 10 grants to individual recipients for college education. Grants ranged from $4,200 to $10,000, with a median grant of $5,000. The filing lists no organizational grantees.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Norman Ng, John Ng, Chuck Man Ng, and Frances Wong as directors.
Fortune Education Foundation Inc's 2024 filing lists 4 officers; none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
Chuck Man Ng
Director
On filings since 2020
No compensation reported
Frances Wong
Director
On filings since 2020
4 hrs/week
No compensation reported
John Ng
Director
On filings since 2020
No compensation reported
Norman Ng
Director
On filings since 2020
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Fortune Education Foundation Inc
How much does Fortune Education Foundation Inc give each year?
Fortune Education Foundation Inc gave $64K across 10 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $74K across 11 grants.
What is Fortune Education Foundation Inc's typical grant size?
Fortune Education Foundation Inc's median grant in 2024 was $5,000, and its average grant was $6,420, across 10 grants on its 2024 IRS Form 990-PF.
Where does Fortune Education Foundation Inc give grants?
Fortune Education Foundation Inc's top state is New Jersey, with 47% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were California (30%) and Illinois (16%).
Does Fortune Education Foundation Inc give general operating support?
Not in 2024: none of the 10 grants with a stated purpose on Fortune Education Foundation Inc's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "College Education" (10 grants).
How large is Fortune Education Foundation Inc?
Fortune Education Foundation Inc reported $1.6M in total assets on its 2024 IRS Form 990-PF. It paid out $64K in qualifying distributions that year, against a required minimum of $80K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
How do I apply for a grant from Fortune Education Foundation Inc?
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Fortune Education Foundation Inc's EIN?
Fortune Education Foundation Inc's EIN (Employer Identification Number) is 26-1564290. IRS Form 990 filing data is available on this page for 2020–2024.
Does Fortune Education Foundation Inc accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Fortune Education Foundation Inc funds
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