Nonprofit · EIN 94-3187528
REX AND MARGARET FORTUNE SCHOOL OF EDUCATION
Tax-exempt · SACRAMENTO, CA 95833
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $52,228,321 | $53,806,108 | -$1,577,787 | $101,178,668 | $93,741,553 | $7,437,115 |
| June 30, 2024 | 990 | $51,450,691 | $54,408,722 | -$2,958,031 | $132,626,191 | $123,779,786 | $8,846,405 |
| June 30, 2023 | 990 | $45,742,933 | $48,025,792 | -$2,282,859 | $141,551,561 | $129,747,125 | $11,804,436 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $44,811,344
- of which government grants
- $43,154,088
- Program service revenue
- $1,267,336
- Investment income
- $8,698,013
- Net rental income
- -$2,594,817
- Net gain from sales of assets
- $8,359,311
- Other revenue
- -$2,548,372
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $915,361
- Other salaries and wages
- $21,121,768
- Salaries, compensation and benefits (total)
- $26,627,033
- Professional fundraising fees
- $0
- Legal fees
- $1,738,501
- Accounting fees
- $65,000
- Occupancy
- $3,762,724
- Depreciation
- $3,632,373
- Program services (functional)
- $49,753,714
- Management and general (functional)
- $4,052,394
Balance sheet and other
- Total assets, start of year
- $132,626,191
- Total assets, end of year
- $101,178,668
- Total liabilities, end of year
- $93,741,553
- Net assets, end of year
- $7,437,115
- Land, buildings and equipment
- $75,029,686
- Net assets without donor restrictions
- $7,331,037
- Net assets with donor restrictions
- $106,078
- Gross receipts
- $57,354,083
- Employees
- 531
- Volunteers
- 37
- Year formed
- 1993
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARGARET G FORTUNE | PRESIDENT/CEO Officer | 50 | $312,238 | $31,430 |
| BONNIE BENSEN | CHIEF FINANCIAL OFFICER Officer | 50 | $265,168 | $32,084 |
| MICHELLE GRACE | SECRETARY Officer | 50 | $226,243 | $31,976 |
| JEROLD LIGONS | DIRECTOR OF FACILITIES Highest-paid employee | 50 | $184,734 | $22,722 |
| WESLEY PEPPER | CHIEF ACADEMIC OFFICER Highest-paid employee | 50 | $170,481 | $23,329 |
| MALLORY AREVALOS | DIRECTOR OF FISCAL SERVICES Highest-paid employee | 50 | $142,948 | $21,677 |
| CROCHETT KARA | DIRECTOR OF HUMAN RESOURCES Highest-paid employee | 50 | $130,101 | $24,092 |
| AKELE NEWTON | PRINCIPAL Highest-paid employee | 50 | $133,536 | $18,895 |
| ELEANOR BROWN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BERTHA GORMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| SCOTT LOEHR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CAROLYN MULLINS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOETTE SPENCER CAMPBELL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| OLLIE WATSON | BOARD MEMBER (THRU 07/24) Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2024: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARGARET G FORTUNE | PRESIDENT/CEO Officer | 50 | $307,990 | $29,414 |
| BONNIE BENSEN | CHIEF FINANCIAL OFFICER Officer | 50 | $261,904 | $29,785 |
| MICHELLE GRACE | SECRETARY Officer | 50 | $221,488 | $29,603 |
| JEROLD LIGONS | DIRECTOR OF FACILITIES Highest-paid employee | 50 | $180,375 | $20,961 |
| RICK RUBINO | HR CONSULTANT Highest-paid employee | 25 | $190,040 | $0 |
| WESLEY PEPPER | CHIEF ACADEMIC OFFICER Highest-paid employee | 50 | $166,601 | $18,581 |
| MALLORY AREVALOS | DIRECTOR OF FISCAL SERVICES Highest-paid employee | 50 | $156,376 | $21,903 |
| SHONDA MOORE | DIRECTOR OF MARKETING (THRU 10/23) Highest-paid employee | 50 | $143,749 | $18,036 |
| ELEANOR BROWN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BERTHA GORMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| SCOTT LOEHR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CAROLYN MULLINS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOETTE SPENCER CAMPBELL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| OLLIE WATSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARGARET G FORTUNE | PRESIDENT/CEO Officer | 50 | $292,730 | $28,144 |
| BONNIE BENSEN | CHIEF FINANCIAL OFFICER Officer | 50 | $245,770 | $28,336 |
| MICHELLE GRACE | SECRETARY Officer | 50 | $207,931 | $28,415 |
| RICK RUBINO | HR CONSULTANT Highest-paid employee | 25 | $185,290 | $0 |
| WESLEY PEPPER | CHIEF ACADEMIC OFFICER Highest-paid employee | 50 | $152,419 | $18,499 |
| TAMARA WILLIAMS | PRINCIPAL SUPERVISOR Highest-paid employee | 50 | $126,719 | $16,558 |
| AKELE NEWTON | PRINCIPAL Highest-paid employee | 50 | $123,250 | $17,554 |
| JOSEPH GAMBINO | DIRECTOR OF EDUCATION TECHNOLOGY Highest-paid employee | 50 | $124,698 | $15,791 |
| ELEANOR BROWN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PAULETTE BROWN-HINDS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BERTHA GORMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| SCOTT LOEHR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CAROLYN MULLINS | BOARD MEMBER (AS OF 02/23) Trustee or director | 1 | $0 | $0 |
| JOETTE SPENCER CAMPBELL | BOARD MEMBER (AS OF 02/23) Trustee or director | 1 | $0 | $0 |
| OLLIE WATSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2890 GATEWAY OAKS DR STE 100, SACRAMENTO, CA 95833-4327
- Principal officer (990 for 2024)
- MARGARET G FORTUNE, 2890 GATEWAY OAKS DRIVE 100, SACRAMENTO, CA 95833
- Signed the 990
- MARGARET G FORTUNE, PRESIDENT/CEO
- Phone
- (916) 924-8633
- Website
- WWW.FORTUNESCHOOL.US
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
California records
California keeps its own records of charities and corporations. Search them by EIN 94-3187528 or by the name REX AND MARGARET FORTUNE SCHOOL OF EDUCATION.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
TO GRADUATE HIGH ACHIEVING STUDENTS OF GOOD CHARACTER PREPARED FOR COLLEGE AND CITIZENSHIP IN A DEMOCRATIC SOCIETY.
Program accomplishments
- TK-12 CHARTER SCHOOL OPERATIONS: FORTUNE SCHOOL AND HARDY BROWN COLLEGE PREP ARE COLLEGE PREPARATORY CHARTER SCHOOLS THAT HAVE BEEN AUTHORIZED TO SERVE GRADES TRANSITIONAL KINDERGARTEN THROUGH GRADE 12. DURING 2024-25 FORTUNE SCHOOL SERVED STUDENTS IN GRADES TK-12 WHILE HARDY BROWN COLLEGE PREP SERVED STUDENTS IN GRADES TK-8. FOUNDED BY CIVIC AND COMMUNITY LEADERS FROM SACRAMENTO, CALIFORNIA, THE SCHOOLS ARE HIGH ACHIEVING AND ACADEMICALLY RIGOROUS THAT SERVE PREDOMINATELY LOW INCOME, AFRICAN AMERICAN STUDENTS. WHILE THE FOCUS OF OUR TUITION FREE PUBLIC CHARTER SCHOOLS IS TO CLOSE THE ACHIEVEMENT GAP FOR AFRICAN AMERICAN STUDENTS, THE SCHOOLS ARE OPEN TO ALL STUDENTS.Expenses $48,030,025 · revenue $274,949
- PRESCHOOL OPERATIONS: FORTUNE PRESCHOOL OPERATES IN TWO LOCATIONS, ELK GROVE AND SAN BERNARDINO, SERVING CHILDREN AGES 2 TO 5 YEARS OLD. THE SCHOOL IS INFLUENCED BY THE SCHOOLS IN REGGIO EMILIA, ITALY. THE APPROACH FOCUSES ON HOW CHILDREN LEARN, THEIR RELATIONSHIP TO THE WORLD AROUND THEM, AND THE JOY CHILDREN EXPERIENCE FROM LEARNING.Expenses $1,084,348 · revenue $601,875
- CREDENTIALING PROGRAMS: PRESERVICE PROGRAM - 150 CLOCK HOURS OF TRAINING IS PROVIDED PRIOR TO ENTERING THE CLASSROOM AS A TEACHER INTERN. THIS COURSEWORK IS A PRE-REQUISITE FOR THE DISTRICT INTERN PROGRAM. THE DISTRICT INTERN CREDENTIAL PROGRAM PROVIDES AN ALTERNATIVE PATH TO TEACHER CERTIFICATION FOR SINGLE SUBJECT - MIDDLE SCHOOL/HIGH SCHOOL (GRADES 7-12) GENERAL EDUCATION TEACHERS, A MILD, MODERATE DISABILITIES LEVELS I & II CREDENTIAL FOR EDUCATION SPECIALIST TEACHERS, AND A MULTIPLE SUBJECT CREDENTIAL FOR GRADES K-8 TEACHERS IN SELF-CONTAINED CLASSES. THE PROGRAM INCLUDES TWO YEARS OF PROFESSIONAL DEVELOPMENT COURSEWORK COMPLETED ON WEEKENDS FROM SEPTEMBER THROUGH JUNE OF EACH YEAR WHILE SIMULTANEOUSLY TEACHING ON AN INTERN CREDENTIAL. THE SCHOOL LEADERSHIP PROGRAM RESULTS IN THE CALIFORNIA ADMINISTRATIVE SERVICES CREDENTIAL OR CHARTER SCHOOL LEADER CERTIFICATE. THIS 1-YEAR INTENSIVE LEADERSHIP PROGRAM IS FOCUSED ON PRODUCING CHARTER SCHOOL LEADERS WHO WILL DEVELOP AND LEAD HIGH-QUALITY CHARTER SCHOOLS IN HIGH NEED AREAS. THE PK-3 ECE SPECIALIST INSTRUCTION CREDENTIAL IS IN DEVELOPMENT AND WILL PROVIDE A BRIDGE AND ACCELERATED PATHWAY FOR CURRENT MULTIPLE SUBJECT CREDENTIAL HOLDERS AS WELL AS CHILD DEVELOPMENT TEACHER PERMIT HOLDERS WITH A BA DEGREE TO EARN THE CREDENTIAL AND BEGIN SERVING IN TRANSITIONAL KINDERGARTEN SETTINGS. FORTUNE MASTER'S PROGRAM EXPLORES THE CONNECTIONS BETWEEN EDUCATION AND SOCIAL JUSTICE, FOCUSING ON RESEARCH, POLICY, AND SOCIETAL ISSUES. GRADUATES WILL EARN A MASTER OF ARTS IN EDUCATION AND SOCIAL JUSTICE.Expenses $639,341 · revenue $390,512
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 94-3187528
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1993
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B25)
- Assets (IRS master file)
- $101,178,668
- Income (IRS master file)
- $57,354,083
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $52,228,321 | $53,806,108 | $101,178,668 | IRS |
| 990 | June 2024 | $51,450,691 | $54,408,722 | $132,626,191 | IRS |
| 990 | June 2023 | $45,742,933 | $48,025,792 | $141,551,561 | XML |
| 990 | June 2022 | $42,193,426 | $37,248,060 | $30,813,911 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 94-3187528).
Questions about REX AND MARGARET FORTUNE SCHOOL OF EDUCATION
- What is the EIN of REX AND MARGARET FORTUNE SCHOOL OF EDUCATION?
- The employer identification number (EIN) of REX AND MARGARET FORTUNE SCHOOL OF EDUCATION is 94-3187528.
- Is REX AND MARGARET FORTUNE SCHOOL OF EDUCATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1993.
- Are donations to REX AND MARGARET FORTUNE SCHOOL OF EDUCATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does REX AND MARGARET FORTUNE SCHOOL OF EDUCATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of REX AND MARGARET FORTUNE SCHOOL OF EDUCATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did REX AND MARGARET FORTUNE SCHOOL OF EDUCATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of REX AND MARGARET FORTUNE SCHOOL OF EDUCATION?
- The 990 for the year ended June 30, 2025 names MARGARET G FORTUNE.
- Who are the officers and directors of REX AND MARGARET FORTUNE SCHOOL OF EDUCATION?
- The 990 for the year ended June 30, 2025 lists 14 people; 8 received compensation from the organization, the highest $312,238 (MARGARET G FORTUNE, PRESIDENT/CEO).
- How much revenue does REX AND MARGARET FORTUNE SCHOOL OF EDUCATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $52,228,321, expenses of $53,806,108 and total assets of $101,178,668 at year end.
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