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Fortune Education Foundation Inc. is a private corporation based in RAHWAY, NJ. The foundation received its IRS ruling in 2008. The principal officer is Norman Ng. It holds total assets of $1.6M. Annual income is reported at $22K. Total assets have grown from $1M in 2011 to $1.7M in 2023. The foundation is governed by 4 officers and trustees. The foundation operates in the area of education. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2016 to 2023. Funding is distributed across 5 states, including New Jersey, New York, Texas. According to available records, Fortune Education Foundation Inc. has made 20 grants totaling $134K, with a median grant of $5K. Annual giving has grown from $60K in 2022 to $74K in 2023. Individual grants have ranged from $4K to $10K, with an average award of $7K. The foundation has supported 15 unique organizations. The foundation primarily supports organizations in New Jersey, Illinois, New York, which account for 95% of all grants. Grantmaking reaches organizations across 4 states. Contributions to this foundation are tax-deductible.
Smallest Grant
$2K
Median Grant
$7K
Average Grant
$7K
Largest Grant
$10K
Based on 10 grants from the most recent 990-PF filing.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Fortune Education Foundation Inc. primarily funds organizations in the area of education. Based on available records, the foundation has funded 20 grants. Its grantmaking reaches organizations primarily in NJ, IL, NY.
Fortune Education Foundation Inc. has distributed a total of $134K across 20 grants. The median grant size is $5K, with an average of $7K. Individual grants have ranged from $4K to $10K.
Fortune Education Foundation Inc. typically selects its grantees rather than accepting unsolicited proposals.
Fortune Education Foundation Inc. is headquartered in RAHWAY, NJ. While based in NJ, the foundation distributes grants to organizations across 4 states.
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| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Norman Ng | DIRECTOR | $0 | $0 | N/A |
| John Ng | DIRECTOR | $0 | $0 | N/A |
| Chuck Man Ng | DIRECTOR | $0 | $0 | N/A |
| Frances Wong | DIRECTOR | $0 | $0 | N/A |
Total Giving
$91K
Total Assets
$1.7M
Fair Market Value
$1.6M
Net Worth
$1.7M
Grants Paid
$74K
Contributions
N/A
Net Investment Income
$31K
Distribution Amount
$79K
Total Grants
20
Total Giving
$134K
Average Grant
$7K
Median Grant
$5K
Unique Recipients
15
Most Common Grant
$5K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Kelvin ZhengCOLLEGE EDUCATION | East Brunswick, NJ | $10K | 2023 |
| Min KhaCOLLEGE EDUCATION | Montgomery, IL | $10K | 2023 |
| Kenneth KuangCOLLEGE EDUCATION | Hacienda Height, CA | $10K | 2023 |
| Alicia BaezCOLLEGE EDUCATION | Englewood, NJ | $10K | 2023 |
| Gavin ChengCOLLEGE EDUCATION | Parsippany, NJ | $5K | 2023 |
| Kelly LuuCOLLEGE EDUCATION | Brooklyn, NY | $5K | 2023 |
| Elman YipCOLLEGE EDUCATION | Demarest, NJ | $5K | 2023 |
| Cheyenne BanisterCOLLEGE EDUCATION | Serena, IL | $5K | 2023 |
| David KwiatkowskiCOLLEGE EDUCATION | Linden, NJ | $5K | 2023 |
| Eric ChanCOLLEGE EDUCATION | Green Bbook, NJ | $5K | 2023 |
| Itzel MerinoCOLLEGE EDUCATION | Brooklyn, NY | $4K | 2023 |
| Gavin ChangCOLLEGE EDUCATION | Parsippany, NJ | $5K | 2022 |
| Eason DaiCOLLEGE EDUCATION | Elmhurst, NY | $5K | 2022 |
| Susan WojcikCOLLEGE EDUCATION | Avenel, NJ | $5K | 2022 |
| Johnny ZhengCOLLEGE EDUCATION | Flushing, NY | $5K | 2022 |