The Forman S Acton Educational Foundation Inc
The Forman S Acton Educational Foundation Inc is a private foundation based in Salem, New Jersey. Founded in October 2014, it advances educational opportunities for Salem’s youth through financial assistance and support for education, career preparation, and student development.
The Forman S Acton Educational Foundation Inc at a glance
In short: The Forman S Acton Educational Foundation Inc gave $1.2M across 57 grants in 2024 (avg $22K), mostly in New Jersey. 32% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $1,235,798
- -23.9% vs 2023
- Grants made (2024)
- 57
- -3.4% vs 2023
- Average grant
- $21,681
- -21.2% vs 2023
- Median grant
- $5,999
- Total assets
- $38,988,556
- +3.8% vs 2023
- New grantees (estimate)
- 32% first-time grantees (18 of 56, 2024)
- Primary geography
- New Jersey (83% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to The Forman S Acton Educational Foundation Inc
- How to Apply
-
The foundation requires grantees to complete an application on a form provided by the foundation. The application asks for the grant’s purpose, the problem it is intended to address, research supporting the proposed approach, and indicators for measuring success. Submission deadlines may be established. The filing states that scholarships are paid directly to the college for the student’s cost of attendance and must be the last dollars applied, without replacing other financial aid.
- Contact
Application contact: Kortney Swanson-Davis
Mailing address: Via Email, Salem, NJ 08079
Phone: (844) 436-7626
Email: kortney@formanscholars.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Forman S Acton Educational Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Community Foundation of South Jersey ($669K). Together the top 10 received $1.0M.
Organizations only. It also paid 2 individual scholarships ($550), which are not listed by name.
Grant Size Distribution
214 grants across all recorded years
The most common grant size was under $50K: 197 grants of 214 (92%).
Geographic Focus
Where this funder awards grants
The foundation describes its work as advancing educational opportunities for youth in the greater an individual recipient, New Jersey, community. In 2024, 83% of grant dollars went to recipients in New Jersey, 7% to Pennsylvania, 2% each to New York and Maryland, and 1% to Florida.
Grant Distribution by State
Share of 2024 grant dollars across all 57 itemized grants.
States
Cities
Is The Forman S Acton Educational Foundation Inc open to new grantees?
32%
first-time grantees, 2024
In 2024, 18 of 56 grantees (32%) were first-time recipients. First grants averaged $2K; repeat grants $32K. How we count
Medians: $323 first-time, $10K repeat.
- 64% of 2024 grantees were also funded in 2023. Method
- Giving grew 60% from 2021 to 2024. Method
- In 2024 it paid out 123% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2018–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2018 to 2024, annual grant giving ranged from $731K (2020) to $1.6M (2023). In 2024 it made 57 grants totaling $1.2M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Community Foundation of South Jersey Haddonfield, NJ | Grant to the acorn fund accounts for the college savings program | $669,050 |
| Salem Community College Carneys Point, NJ | The scholarship is awarded to a student via the university to pursue higher education and a community grant to fund the dual credit program for salem high school students. | $87,958 |
| Rowan University Glassboro, NJ | The scholarship is awarded to a student via the university to pursue higher education. | $63,532 |
| The College of New Jersey Ewing, NJ | The scholarship is awarded to a student via the university to pursue higher education. | $51,115 |
| Stockton University Galloway, NJ | The scholarship is awarded to a student via the university to pursue higher education. | $47,099 |
| One Village Alliance Salem, NJ | Grant to provide funding for one village alliance who fosters a community-based, people-fueled approach with a mission to uplift children and their families on a holistic journey toward excellence through education, entrepreneurship and the arts. | $25,000 |
| Rutgers University New Brunswick, NJ | The scholarship is awarded to a student via the university to pursue higher education. | $19,909 |
| Elizabethtown College Elizabethtown, PA | The scholarship is awarded to a student via the university to pursue higher education. | $18,750 |
| College Retention Fund Salem, NJ | This grant is awarded to help current college students stay in school and finish their degree. Students must be eligible and have a 2.5 gpa to qualify. | $18,280 |
| Drew University Madison, NJ | The scholarship is awarded to a student via the university to pursue higher education. | $16,195 |
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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 | $38,988,556 | $3,870,757 | $2,436,132 | $1,235,798 | 57 | $2,313,193 | $1,686,481 | $1,878,283 |
| 2023 | $37,549,992 | $4,674,284 | $3,030,867 | $1,623,510 | 59 | $2,788,509 | — | $1,788,820 |
| 2022 | $35,908,776 | $-4,956,669 | $2,035,484 | $789,840 | 37 | $1,733,198 | $633,608 | $1,880,874 |
| 2021 | $42,894,269 | $5,240,531 | $2,136,239 | $774,254 | 34 | $1,737,921 | $11,698,696 | $1,894,703 |
| 2020 | $39,786,475 | $5,089,883 | $1,866,763 | $730,756 | 27 | — | $1,699,872 | $1,711,834 |
| 2018 | $32,177,050 | $-1,430,665 | $1,896,446 | $789,922 | 26 | — | $1,998,574 | $1,706,063 |
Under IRS private-foundation payout rules, The Forman S Acton Educational Foundation Inc reported a distributable amount of $1.9M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The foundation’s stated mission is to inspire, educate, and empower Salem’s youth. Its work includes the Acorn Fund, which provides free college savings accounts for every child living in or attending public school in an individual recipient, and the Forman Scholars Program, which provides $50,000 college scholarships to selected cohorts of Salem students. The foundation says Forman Scholars also have mentorship and networking opportunities.
The foundation also makes grants to organizations and institutions serving Salem’s youth and furthering their education. Its 2024 grants included college scholarships administered through universities, support for a dual-credit program at Salem Community College, and a grant to One Village Alliance. The latter describes its work as a community-based approach to uplifting children and families through education, entrepreneurship, and the arts. Other 2024 recipients included universities and colleges; for example, Drew University describes itself as a liberal arts university, while Lincoln University describes itself as a public historically Black university.
Grantmaking
In 2024, the foundation reported 57 grants totaling $1,235,798. Grant amounts ranged from $56 to $669,050, with a median grant of $5,999. The largest award was $669,050 to the Community Foundation of South Jersey for Acorn Fund accounts for the college savings program. Other large grants included $87,958 to Salem Community College for scholarships and the dual-credit program, $63,532 to Rowan University for a scholarship, and $51,115 to The College of New Jersey for a scholarship. One Village Alliance received $25,000, and the College Retention Fund received $18,280 to help eligible current college students stay in school and finish their degrees.
The foundation’s website describes grants for youth-serving educational activities, including summer STEAM and engineering programs, literacy support, and after-school programming.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Kortney Swanson Davis as president and COO, Darrell Edmonds as chair, Janelle Alexander as secretary, and Steve Burns as treasurer. It also lists Laurence Van Meter as emeritus trustee and Evelyn Campbell, Jackie Edwards, Steve Waddington, Mike Gorman, and Melissa Litwin as trustees.
The Forman S Acton Educational Foundation Inc is led by Kortney Swanson Davis, President & COO since 2024 (on filings since 2023); 1 of 12 officers listed in 2024 is compensated.
Officers on the 2024 filing
Kortney Swanson Davis
President & COO
President & COO July - Present → President & COO, 2024
On filings since 2023
40 hrs/week
$243K (2023) → $259K (2024)
Darrell Edmonds
Chair
Chairperson July - Present → Chairperson, 2023
Chairperson → Chair, 2024
On filings since 2018
2 hrs/week
No compensation reported
Steve Waddington
Trustee
Trustee → Treasurer & Trustee, 2020
Treasurer & Trustee → Trustee, 2023
On filings since 2018
2 hrs/week
No compensation reported
John Mulhorn
Trustee
On filings since 2020
2 hrs/week
No compensation reported
Mike Gorman
Trustee
On filings since 2020
2 hrs/week
No compensation reported
Evelyn Campbell
Trustee
On filings since 2023
2 hrs/week
No compensation reported
Jackie Edwards
Trustee
On filings since 2023
2 hrs/week
No compensation reported
Melissa Litwin
Trustee
On filings since 2023
2 hrs/week
No compensation reported
Rick Wilson
Trustee
On filings since 2023
2 hrs/week
No compensation reported
Laurence Van Meter
Emeritus Trustee
President & CEO → President & CEO Jan - June, 2023
President & CEO Jan - June → Emeritus Trustee, 2024
On filings since 2018
2 hrs/week
$116K (2020) → $0 (2024)
Janelle Alexander
Secretary
Trustee → Secretary, 2022
On filings since 2021
2 hrs/week
No compensation reported
Steve Burns
Treasurer
On filings since 2023
2 hrs/week
No compensation reported
Former officers (7)
- Former: Najwa Tatum (2018–2022) — Trustee
- Former: Ken Aldridge (2020–2022) — Chairperson Jan - June
- Former: Madinah Thomas (2020–2022) — Trustee
- Former: Karen Washington (2018–2020) — Trustee
- Former: Helen Reinhart (2018) — Secretary & Trustee
- Former: Jean Blauvelt (2018) — Chairperson
- Former: Kathryn Markovchick (2018) — Trustee, President & CEO
Data from IRS Form 990 filings, 2018–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $259K, to Kortney Swanson Davis (President & COO).
Frequently asked questions about The Forman S Acton Educational Foundation Inc
How much does The Forman S Acton Educational Foundation Inc give each year?
The Forman S Acton Educational Foundation Inc gave $1.2M across 57 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $1.6M across 59 grants.
What is The Forman S Acton Educational Foundation Inc's typical grant size?
The Forman S Acton Educational Foundation Inc's median grant in 2024 was $5,999, and its average grant was $21,681, across 57 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from The Forman S Acton Educational Foundation Inc that year got $2K on average.
Where does The Forman S Acton Educational Foundation Inc give grants?
The Forman S Acton Educational Foundation Inc gives mostly in New Jersey: 83% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Pennsylvania (7%). The most frequent recipient cities were Ewing, NJ (2 grants), Salem, NJ (2 grants), Philadelphia, PA (2 grants) and Madison, NJ (2 grants).
Does The Forman S Acton Educational Foundation Inc give general operating support?
Not in 2024: none of the 57 grants with a stated purpose on The Forman S Acton Educational Foundation Inc's 2024 IRS Form 990-PF were described as general or operating support.
Who are The Forman S Acton Educational Foundation Inc's largest grantees?
The Forman S Acton Educational Foundation Inc's largest 2024 grantees include Community Foundation of South Jersey ($669,050), Salem Community College ($87,958) and Rowan University ($63,532), according to its 2024 IRS Form 990-PF. It also paid 2 individual scholarships ($550), which are not listed by name. Together they received 66% of its itemized 2024 grant dollars.
How large is The Forman S Acton Educational Foundation Inc?
The Forman S Acton Educational Foundation Inc reported $39.0M in total assets on its 2024 IRS Form 990-PF. It paid out $2.3M in qualifying distributions that year, against a required minimum of $1.9M (roughly 5% of its investment assets).
What does The Forman S Acton Educational Foundation Inc fund?
The foundation’s stated mission is to inspire, educate, and empower Salem’s youth. See mission & focus areas ↑
How do I apply for a grant from The Forman S Acton Educational Foundation Inc?
The foundation requires grantees to complete an application on a form provided by the foundation. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Forman S Acton Educational Foundation Inc's EIN?
The Forman S Acton Educational Foundation Inc's EIN (Employer Identification Number) is 47-1997891. IRS Form 990 filing data is available on this page for 2018–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2018 (received by the IRS November 15, 2019)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 13, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 14, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 14, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS November 13, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 17, 2025)
- IRS filings on file for fiscal years 2018–2024
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Cite this profile
Grantable. (2026). The Forman S Acton Educational Foundation Inc funder profile. GrantGraph. Retrieved October 21, 2026, from https://grantable.co/funders/the-forman-s-acton-educational-foundation-inc-morg_282def14faab41bca3b7e8b3b6772e1c
BibTeX
@misc{grantable_471997891_2026,
author = {{Grantable}},
title = {{The Forman S Acton Educational Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-forman-s-acton-educational-foundation-inc-morg_282def14faab41bca3b7e8b3b6772e1c},
note = {Accessed 2026-10-21. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from The Forman S Acton Educational Foundation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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