The Forman S Acton Educational Foundation is a private foundation established in October 2014 to advance educational opportunities for Salem's youth. Based in Salem, New Jersey, the foundation operates with a staff of 4 employees and focuses on removing barriers to education for students in the Salem City School District.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$1.2M
-23.9% YoY
Grant Count
57
-3.4% YoY
Avg Grant Size
$22K
-21.2% YoY
Mission & Focus Areas
The foundation's mission is to inspire, educate and empower Salem's youth through financial assistance and inspirational support that creates pathways for students to advance their education, achieve career success and become global leaders.
Primary program areas include:
Educational Support Programs
- Grants to fund educational enhancing activities for preschool, elementary, middle and high school students living in or attending public school in Salem City, NJ
- Emergency financial assistance for students demonstrating financial need
Acorn Fund
- Free college savings accounts for every child living in or attending public school in Salem City
Forman Scholars Program
- College scholarships of $50,000 awarded to select cohorts of Salem students
- College deposit funding for students entering their freshman year
Scholarships & College Preparation
- Scholarships awarded to high school seniors
- Funding for college savings accounts for all Salem City students
Grantmaking
The foundation made 27 grants in the most recent tax year. Grant amounts typically range from $16 to $1,100,000. In 2024, total giving was $1,235,798.
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Geographic Focus
Where this funder awards grants
The foundation's grantmaking is primarily focused on Salem City, New Jersey, with some activity in Pennsylvania and Maryland.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $38,988,556
- Total revenues: $3,870,757
- Total expenses: $2,436,132
- Total giving: $1,235,798
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
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
198 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| LAURENCE VAN METER | EMERITUS TRUSTEE | 2 | — |
| KORTNEY SWANSON DAVIS | PRESIDENT & COO | 40 | $258,703 |
| DARRELL EDMONDS | CHAIR (6/22 - PRESENT) | 2 | — |
| JANELLE ALEXANDER | SECRETARY | 2 | — |
| STEVE BURNS | TREASURER | 2 | — |
| EVELYN CAMPBELL | TRUSTEE | 2 | — |
| JACKIE EDWARDS | TRUSTEE | 2 | — |
| STEVE WADDINGTON | TRUSTEE | 2 | — |
| MIKE GORMAN | TRUSTEE | 2 | — |
| MELISSA LITWIN | TRUSTEE | 2 | — |
| JOHN MULHORN | TRUSTEE | 2 | — |
| RICK WILSON | TRUSTEE | 2 | — |
Recent Activity
Recent developments and announcements
The foundation celebrated its 10-year anniversary on October 3, 2024, marking a decade of impact and inspiration in Salem. The foundation continues to announce annual cohorts of Forman Scholars, with classes introduced in 2023, 2024, and 2025.
Introducing the 2025 Class of Forman Scholars \u2014 Forman Acton FoundationSubject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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