Rex And Margaret Fortune School Of Education

Organization Overview

Rex And Margaret Fortune School Of Education is located in Sacramento, CA. The organization was established in 1993. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2021, Rex And Margaret Fortune School Of Education employed 384 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rex And Margaret Fortune School Of Education is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Rex And Margaret Fortune School Of Education generated $35.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $30.6m during the year ending 06/2021. While expenses have increased by 8.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE PROMOTION OF EDUCATION IN CALIFORNIA AND OTHER AREAS WITHIN THE UNITED STATES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

K-12 CHARTER SCHOOL OPERATIONS: FORTUNE SCHOOL AND HARDY BROWN COLLEGE PREP ARE COLLEGE PREPARATORY CHARTER SCHOOLS THAT HAVE BEEN AUTHORIZED TO SERVE GRADES KINDERGARTEN THROUGH GRADE 12. DURING 2020-21 FORTUNE SCHOOL SERVED STUDENTS IN GRADES K-12 WHILE HARDY BROWN COLLEGE PREP SERVED STUDENTS IN GRADES K-8 GRADE. 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.


DISTRICT INTERN CREDENTIAL PROGRAM THAT 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 PROGRAMS INCLUDE TWO YEARS OF PROFESSIONAL DEVELOPMENT COURSEWORK COMPLETED ON WEEKENDS FROM SEPTEMBER THROUGH JUNE OF EACH YEAR WHILE SIMULTANEOUSLY TEACHING ON AN INTERN CREDENTIAL.


PRESERVICE PROGRAM - 160 CLOCK HOURS OF TRAINING IS PROVIDED PRIOR TO ENTERING THE CLASSROOM AS A TEACHER INTERN. THIS COURSEWORK WAS PREVIOUSLY TAKEN AS PART OF THE DISTRICT INTERN PROGRAM, BUT IS NOW BEING OPERATED AS A STAND ALONE PROGRAM THAT IS A PRE-REQUISITE FOR THE DISTRICT INTERN PROGRAM.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Board Member
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Swing Education Inc
Temporary Staffing
$511,231
Caliber Networks Corp
It Services
$398,845
Jbs Builders Inc
Construction
$331,257
Fortune And Associates
Books And Research Services
$119,167
Achievement First Inc
Coaching/professional Development
$165,000
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $33,056,846
All other contributions, gifts, grants, and similar amounts not included above$2,346,442
Noncash contributions included in lines 1a–1f $81,709
Total Revenue from Contributions, Gifts, Grants & Similar$35,403,288
Total Program Service Revenue$403,330
Investment income $63
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $35,911,409

Grants Awarded

Over the last fiscal year, Rex And Margaret Fortune School Of Education has awarded $110,000 in support to 2 organizations.

Grant RecipientAmount

LEE PUBLISHING COMPANY INC

PURPOSE: Publication of reports and columns regarding black education

$85,000

SACRAMENTO BLACK CHAMBER OF COMMERCE FOUNDATION

Org PageRecipient Profile

Sacramento, CA

PURPOSE: To run a cohort of a parent's advocacy training program

$25,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 4 grants that Rex And Margaret Fortune School Of Education has recieved totaling $845,000.

Awarding OrganizationAmount
Silicon Schools Fund Inc

Oakland, CA

PURPOSE: TO SUPPORT OPERATIONS OF THE SCHOOL

$265,000
Charles And Helen Schwab Foundation

San Francisco, CA

PURPOSE: K-12 EDUCATION

$250,000
Walton Family Foundation Inc

Bentonville, AR

PURPOSE: TO SUPPORT EDUCATION REFORM ADVOCACY.

$200,000
Walton Family Foundation Inc

Bentonville, AR

PURPOSE: TO SUPPORT COMMUNITY ENGAGEMENT AND BLACK MEDIA ENGAGEMENT IN CALIFORNIA.

$130,000
View Grant Recipient Profile

Peer Organizations

Organization NameAssets
Kipp Bay Area Schools
Oakland, CA
$112,257,587
Somerset Academy Of Las Vegas
Las Vegas, NV
$79,621,443
High Tech High
San Diego, CA
$76,672,129
Menlo School
Atherton, CA
$64,317,000
Oaks Christian School
Westlake Village, CA
$62,594,014
Summit Public Schools
Redwood City, CA
$55,546,203
El Camino Real Alliance
Woodland Hills, CA
$53,776,806
Milken Community Schools
Los Angeles, CA
$40,537,524
Windward School
Los Angeles, CA
$41,804,232
Orange County School Of The Arts
Santa Ana, CA
$49,463,330
Inner City Education Foundation
Los Angeles, CA
$41,820,831
Crystal Springs Uplands School
Hillsborough, CA
$40,020,241

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