Fortune Education Foundation Inc is a private foundation focused on Education, based in Rahway, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.6M in total assets. In 2024, it awarded 10 grants totaling $64K. Net investment income was $22K.
Key facts about Fortune Education Foundation Inc
- EIN
- 26-1564290
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $64,200
- Grants made (2024)
- 10
- Average grant
- $6,420
- Median grant
- $5,000
- Total assets
- $1,632,245
- Primary geography
- New Jersey (47% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Fortune Education Foundation Inc funds
By grant dollars, the top recipient states for Fortune Education Foundation Inc's 10 itemized 2024 grants were New Jersey (47%), California (30%) and Illinois (16%). The most frequent recipient cities were Parsippany, NJ (2 grants). None of its 10 grants with a stated purpose were described as general or operating support. Recurring purposes include "College Education" (10 grants).
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.
Next steps with Fortune Education Foundation Inc
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.6M
-3.0% YoY
Annual Giving
$64K
-13.5% YoY
Grant Count
10
-9.1% YoY
Avg Grant Size
$6K
-4.8% YoY
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.
About Fortune Education Foundation Inc
Based on IRS filings
Fortune Education Foundation Inc is a private foundation focused on Education, based in Rahway, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.6M in total assets. In 2024, it awarded 10 grants totaling $64K. Net investment income was $22K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 10 itemized 2024 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,632,245 | $1,682,845 | $1,742,628 |
| Revenue | $22,252 | $30,868 | $434,480 |
| Expenses | $72,852 | $90,651 | $78,591 |
| Qualifying Distributions | $64,200 | $74,200 | $60,000 |
| Net Investment Income | $22,252 | $30,868 | $34,480 |
| Distributable Amount | $79,677 | $79,127 | $59,054 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
51 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Klaudia Garlak ($10,000), Min Kha ($10,000), Kenneth Kuang ($10,000).
| Recipient | Purpose | Amount |
|---|---|---|
| KLAUDIA GARLAK Parlin, NJ | COLLEGE EDUCATION | $10,000 |
| MIN KHA Montgomery, IL | COLLEGE EDUCATION | $10,000 |
| KENNETH KUANG Hacienda Height, CA | COLLEGE EDUCATION | $10,000 |
| EASON DAI Elmhurst, NJ | COLLEGE EDUCATION | $5,000 |
| ELMAN YIP Demarest, NJ | COLLEGE EDUCATION | $5,000 |
| JACKIE WU Los Angeles, CA | COLLEGE EDUCATION | $5,000 |
| GAVIN CHENG Parsippany, NJ | COLLEGE EDUCATION | $5,000 |
| ITZEL MERINO Brooklyn, NY | COLLEGE EDUCATION | $5,000 |
| JUSTIN WAN Parsippany, NJ | COLLEGE EDUCATION | $5,000 |
| DAVID LANDA Bakersfield, CA | COLLEGE EDUCATION | $4,200 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
No officer or director reported compensation in the available filings.
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Norman NG | Director | — | — |
| John NG | Director | — | — |
| Chuck Man NG | Director | — | — |
| Frances Wong | Director | 4 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Fortune Education Foundation Inc?
Fortune Education Foundation Inc is a private foundation focused on Education, based in Rahway, NJ. It holds $1.6M in total assets as of 2024.
How large is Fortune Education Foundation Inc?
As of 2024, Fortune Education Foundation Inc holds $1.6M in total assets with $22K in annual revenue. It awarded 10 grants totaling $64K in 2024.
Where does Fortune Education Foundation Inc operate?
Fortune Education Foundation Inc has awarded grants in California, Illinois, New Jersey, New York, Rhode Island, Texas.
What size grants does Fortune Education Foundation Inc award?
In 2024, Fortune Education Foundation Inc awarded 10 grants totaling $64K — an average of about $6K per grant, based on its IRS Form 990 filings.
How much is Fortune Education Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Fortune Education Foundation Inc reported a distributable amount of $80K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.