THE FORMAN S ACTON EDUCATIONAL is a private foundation based in Salem, New Jersey, that supports educational opportunities for Salem-area youth. The Forman Acton Foundation says it provides financial assistance and inspirational support to help students advance their education, pursue career success, and become global leaders.
Key facts about The Forman S Acton Educational Foundation Inc
In short: The Forman S Acton Educational Foundation Inc gave $1.2M across 57 grants in 2024 (avg $22K), mostly in New Jersey. 35% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- EIN
- 47-1997891
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $1,235,798
- Grants made (2024)
- 57
- Average grant
- $21,681
- Median grant
- $5,999
- New grantees (estimate)
- 35% first-time grantees (20 of 57, 2024)
- Total assets
- $38,988,556
- Primary geography
- New Jersey (83% of itemized 2024 grant dollars)
- How to apply
- The foundation’s 2024 filing says applicants must complete a grant application on a foundation-provided form. Full details ↓
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$39.0M
+3.8% YoY
Annual Giving
$1.2M
-23.9% YoY
Grant Count
57
-3.4% YoY
Avg Grant Size
$22K
-21.2% YoY
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.
Is The Forman S Acton Educational Foundation Inc open to new grantees?
35%
first-time grantees, 2024
In 2024, 20 of 57 grantees (35%) were first-time recipients. First grants averaged $2K; repeat grants $33K. How we count
Medians: $313 first-time, $10K repeat.
- 63% 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.
Mission & Focus Areas
The foundation’s stated mission is to “inspire, educate and empower Salem’s youth.” Its website describes the Acorn Fund, which invests in free college savings accounts for every child living in or attending public school in Salem City, and the Forman Scholars Program, which provides $50,000 college scholarships to selected cohorts of Salem students. The Scholars Program also offers mentorship and networking opportunities. The website states that applicants must meet program eligibility requirements, including living in or attending school in Salem City and being enrolled in the Acorn Fund.
The foundation also makes grants to organizations and institutions serving Salem’s youth and furthering their education. Its website describes support for programs involving STEAM and engineering learning, literacy, after-school activities, and dual-credit opportunities. Among the 2024 grantees, the Rowan University Foundation describes its purpose as raising funds for Rowan University and enriching students’ education and student life; The College of New Jersey Foundation says it funds programs supporting the college’s overall mission; and Drew University describes itself as a liberal arts university with undergraduate and graduate schools.
Grantmaking
In filing year 2024, the foundation reported 57 grants totaling $1,235,798. Grant amounts ranged from $56 to $669,050, with a median of $5,999. In 2023, it reported 59 grants totaling $1,623,510; in 2022, it reported 37 grants totaling $789,840.
Review Cycle
may be established. Scholarships are paid directly to the college for the student’s account, may be used only for the college-established cost of attendance, and must be the last dollars applied without replacing other financial aid.
Ready to take the next step with The Forman S Acton Educational Foundation Inc?
Geographic Focus
Where this funder awards grants
The foundation describes its work as advancing educational opportunities for youth in the greater Salem City, New Jersey, community. In filing year 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
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.
Grant Insights
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.
Grant Size Distribution
214 grants across all recorded years
The most common grant size was under $50K: 197 grants of 214 (92%).
Giving History
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 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Grant total | Number of grants |
|---|---|---|
| 2024 | $1,235,798 | 57 |
| 2023 | $1,623,510 | 59 |
| 2022 | $789,840 | 37 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $38,988,556 | $37,549,992 | $35,908,776 |
| Revenue | $3,870,757 | $4,674,284 | $-4,956,669 |
| Expenses | $2,436,132 | $3,030,867 | $2,035,484 |
| Qualifying Distributions | $2,313,193 | $2,788,509 | $1,733,198 |
| Net Investment Income | $1,686,481 | — | $633,608 |
| Distributable Amount | $1,878,283 | $1,788,820 | $1,880,874 |
Data update history
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
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Kortney Swanson Davis as President & 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).
Contact
Application contact: Kortney Swanson-Davis
Mailing address: Via Email, Salem, NJ 08079
Phone: (844) 436-7626
Email: kortney@formanscholars.org
Website: https://formanscholars.org
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. 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’s 2024 filing says applicants must complete a grant application on a foundation-provided form. 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 September 2026.
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