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← REX AND MARGARET FORTUNE SCHOOL OF EDUCATION

Form 990 for tax year 2023

Filed by REX AND MARGARET FORTUNE SCHOOL OF EDUCATION.

Totals

Total revenue
$51,450,691
Total expenses
$54,408,722
Contributions and grants received
$49,895,728
Grants paid
$0
Program service revenue
$1,383,508
Investment income
$104,692
Other revenue
$66,763
Total assets, end of year
$132,626,191
Total liabilities, end of year
$123,779,786
Net assets or fund balances, end of year
$8,846,405
Program services expenses (Part IX)
$51,844,388
Management and general expenses
$2,564,334
Fundraising expenses
$0
Program service expenses (Part III)
$51,844,388

Program services were 95.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • ELEANOR BROWN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BERTHA GORMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SCOTT LOEHR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CAROLYN MULLINS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOETTE SPENCER CAMPBELL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • OLLIE WATSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARGARET G FORTUNE

    PRESIDENT/CEO

    Total calculated
    $337,404
    From this org
    $307,990
    From related orgs
    $0
    Other
    $29,414
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $300,790
    Bonus
    $0
    Other
    $7,200
    Deferred
    $12,280
    Nontaxable benefits
    $17,134
    Filer's total
    $337,404

  • BONNIE BENSEN

    CHIEF FINANCIAL OFFICER

    Total calculated
    $291,689
    From this org
    $261,904
    From related orgs
    $0
    Other
    $29,785
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $261,904
    Bonus
    $0
    Other
    $0
    Deferred
    $10,446
    Nontaxable benefits
    $19,339
    Filer's total
    $291,689

  • MICHELLE GRACE

    SECRETARY

    Total calculated
    $251,091
    From this org
    $221,488
    From related orgs
    $0
    Other
    $29,603
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $221,488
    Bonus
    $0
    Other
    $0
    Deferred
    $8,820
    Nontaxable benefits
    $20,783
    Filer's total
    $251,091

  • JEROLD LIGONS

    DIRECTOR OF FACILITIES

    Total calculated
    $201,336
    From this org
    $180,375
    From related orgs
    $0
    Other
    $20,961
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $180,375
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $20,961
    Filer's total
    $201,336

  • RICK RUBINO

    HR CONSULTANT

    Total calculated
    $190,040
    From this org
    $190,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    25

    Schedule J breakdown matched by us

    Base
    $190,040
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $190,040

  • WESLEY PEPPER

    CHIEF ACADEMIC OFFICER

    Total calculated
    $185,182
    From this org
    $166,601
    From related orgs
    $0
    Other
    $18,581
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $166,601
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,581
    Filer's total
    $185,182

  • MALLORY AREVALOS

    DIRECTOR OF FISCAL SERVICES

    Total calculated
    $178,279
    From this org
    $156,376
    From related orgs
    $0
    Other
    $21,903
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $156,376
    Bonus
    $0
    Other
    $0
    Deferred
    $4,104
    Nontaxable benefits
    $17,799
    Filer's total
    $178,279

  • SHONDA MOORE

    DIRECTOR OF MARKETING (THRU 10/23)

    Total calculated
    $161,785
    From this org
    $143,749
    From related orgs
    $0
    Other
    $18,036
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $105,044
    Bonus
    $0
    Other
    $38,705
    Deferred
    $4,564
    Nontaxable benefits
    $13,472
    Filer's total
    $161,785

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Discretionary spending account
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE PRESIDENT/CEO RECEIVES AN AUTO ALLOWANCE THAT IS INCLUDED IN TAXABLE COMPENSATION.
PART I, LINE 4A
SHONDA MOORE RECEIVED A SEVERANCE PAYMENT OF $28,654 IN 2023.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FORTUNE FACILITIES LLC

    SEE PART VII · CA · income $387,585 · assets $7,465,855

    Directly controlled by REX AND MARGARET FORTUNE SCHOOL OF EDUCATION

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202511339349310006

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