2026-05-14T13:23:40-05:00 2025-06-30 390859910 BAKER TILLY ADVISORY GROUP LP 2882 PROSPECT PARK DR STE 300 RANCHO CORDOVA CA 95670 990 2024-07-01 943187528 REX AND MARGARET FORTUNE SCHOOL OF EDUCATION REXA 9169248633 2890 GATEWAY OAKS DRIVE 100 SACRAMENTO CA 95833 MARGARET G FORTUNE PRESIDENT/CEO 9169248633 2026-05-13 1 0 AMY L HENDLEY P01300654 9165038100 2026-05-13 2024 2025-03-06 01:10:19Z MARGARET G FORTUNE 2890 GATEWAY OAKS DRIVE 100 SACRAMENTO CA 95833 57354083 0 X WWW.FORTUNESCHOOL.US X 1993 CA THE PROMOTION OF EDUCATION IN CALIFORNIA AND OTHER AREAS WITHIN THE UNITED STATES. 5 5 531 37 0 0 49895728 44811344 1383508 1267336 104692 8698013 66763 -2548372 51450691 52228321 0 0 0 0 24995745 26627033 0 0 0 29412977 27179075 54408722 53806108 -2958031 -1577787 132626191 101178668 123779786 93741553 8846405 7437115 X TO GRADUATE HIGH ACHIEVING STUDENTS OF GOOD CHARACTER PREPARED FOR COLLEGE AND CITIZENSHIP IN A DEMOCRATIC SOCIETY. 0 0 48030025 0 274949 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. 1084348 0 601875 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. 639341 0 390512 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. 49753714 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 61 0 1 531 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 CA X BONNIE BENSEN 9169248633 2890 GATEWAY OAKS DRIVE SUITE 100 SACRAMENTO CA 95833 ELEANOR BROWN BOARD MEMBER 1.00 0.00 X 0 0 0 BERTHA GORMAN BOARD MEMBER 1.00 0.00 X 0 0 0 SCOTT LOEHR BOARD MEMBER 1.00 0.00 X 0 0 0 CAROLYN MULLINS BOARD MEMBER 1.00 0.00 X 0 0 0 JOETTE SPENCER CAMPBELL BOARD MEMBER 1.00 0.00 X 0 0 0 OLLIE WATSON BOARD MEMBER (THRU 07/24) 1.00 0.00 X 0 0 0 MARGARET G FORTUNE PRESIDENT/CEO 50.00 0.00 X 312238 0 31430 BONNIE BENSEN CHIEF FINANCIAL OFFICER 50.00 0.00 X 265168 0 32084 MICHELLE GRACE SECRETARY 50.00 0.00 X 226243 0 31976 JEROLD LIGONS DIRECTOR OF FACILITIES 50.00 0.00 X 184734 0 22722 WESLEY PEPPER CHIEF ACADEMIC OFFICER 50.00 0.00 X 170481 0 23329 MALLORY AREVALOS DIRECTOR OF FISCAL SERVICES 50.00 0.00 X 142948 0 21677 CROCHETT KARA DIRECTOR OF HUMAN RESOURCES 50.00 0.00 X 130101 0 24092 AKELE NEWTON PRINCIPAL 50.00 0.00 X 133536 0 18895 1565449 0 206205 33 0 1 0 CHILDCARE CAREERS LLC 2000 SIERRA POINT PARKWY STE 702 BRISBANE CA 94005 SUBSTITUTE STAFFING SERVICES 1841011 CALIBER NETWORKS CORP 4010 FOOTHILLS BLVD STE 103-41 ROSEVILLE CA 95747 INFORMATION TECHNOLOGY SERVICES 846860 SCOOT EDUCATION INC 10100 VENICE BLVD CULVER CITY CA 90232 SUBSTITUTE STAFFING SERVICES 722531 JBS BUILDERS INC 3853 TAYLOR RD STE 400 LOOMIS CA 95650 CONSTRUCTION SERVICES 638237 ENCORE ONE LLC PO BOX 1150 MINNEAPOLIS MN 55480 CUSTODIAL SERVICES 628475 21 43154088 1657256 29147 44811344 TUITION 611710 982853 982853 OTHER FEES 611710 284483 284483 1267336 338702 338702 254372 2849189 -2594817 -2594817 -2594817 2326000 8309884 2276573 0 49427 8309884 8359311 8359311 STUDENT-RUN FUNDRAISING 900099 46445 46445 46445 52228321 1267336 0 6149641 X 915361 915361 21121768 16949378 4172390 226026 154540 71486 2362340 1635731 726609 2001538 1499334 502204 1738501 135309 1603192 65000 52020 12980 10319701 16151299 -5831598 168425 168425 868222 690826 177396 3762724 3061307 701417 451179 108265 342914 700998 700736 262 3632373 3522034 110339 427544 384601 42943 BOOKS AND SUPPLIES 4031741 3858868 172873 FURNITURE AND EQUIPMENT 515280 468162 47118 COMMUNICATIONS 445818 340318 105500 DUES AND MEMBERSHIPS 51562 40982 10580 7 4 3 53806108 49753714 4052394 0 13781832 11276716 0 7201482 5656643 2802858 504691 430122 83794626 8764940 11403493 75029686 101279532 4437804 132626191 101178668 3935481 4575284 2677382 2979176 0 81194717 7554110 170580 109612813 4821796 123779786 93741553 X 8627946 7331037 218459 106078 8846405 7437115 132626191 101178668 -1577787 168497 0 X 0 1 X 0 1 1 X 35403288 41415589 44821390 49895728 44811344 216347339 35403288 41415589 44821390 49895728 44811344 216347339 216347339 63 8986 104692 593075 706816 71609 66763 46445 184817 217238972 4777687 0.99590 0.99870 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: STUDENT EVENTS RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 53806108 53806108 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 12750 86250 90000 189000 250000 250000 250000 250000 1000000 1500000 9840392 9840392 69677255 6255464 63421791 2237748 1452519 785229 1956231 1056957 899274 83000 83000 75029686 OPERATING LEASE LIABILITY 4821796 4821796 X 55246007 168497 2849189 3017686 52228321 0 52228321 56655297 2849189 2849189 53806108 0 53806108 PART X, LINE 2: FORTUNE SCHOOL OF EDUCATION ("FSE") IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAX CODE SECTION 23701E. FSE IS SUBJECT TO INCOME TAXES FROM ACTIVITIES UNRELATED TO ITS TAX-EXEMPT PURPOSES. FSE HAS ACCOUNTED FOR UNCERTAINTY IN INCOME TAXES AS REQUIRED BY THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ASC. FSE USES A COMPREHENSIVE MODEL FOR RECOGNIZING, MEASURING, PRESENTING AND DISCLOSING IN THE CONSOLIDATED FINANCIAL STATEMENTS TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. THE EFFECT OF APPLYING THIS MODEL AND THE RESULTING IDENTIFICATION OF UNCERTAIN TAX POSITIONS, IF ANY, WERE NOT CONSIDERED SIGNIFICANT FOR FINANCIAL REPORTING PURPOSES. MANAGEMENT DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. FSE'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS, IF ANY, IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. FSE HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES AS OF JUNE 30, 2025. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 2,849,189. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 2,849,189. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION DOES NOT DISCRIMINATE BASED ON RACE; A POLICY STATEMENT HAS BEEN PUBLISHED ON OUR RECRUITMENT AND APPLICATION MATERIALS, BUT NOT THROUGH NEWSPAPERS OR BROADCAST MEDIA. THE POLICY IS POSTED ON THE WEBSITE. SCHEDULE E, PART I, LINE 4 THE ORGANIZATION DOES MAINTAIN RECORDS OF THE RACIAL COMPOSITION OF OUR STUDENT BODY. WE DO NOT MAINTAIN THAT INFORMATION ON OUR FACULTY AND ADMINISTRATIVE STAFF AS IT IS OUR BELIEF THAT WE CAN'T ASK THAT INFORMATION WHEN WE ARE HIRING. OUR EMPLOYEE HANDBOOK DOES SPECIFICALLY STATE THAT WE ARE AN EQUAL OPPORTUNITY EMPLOYER. SCHEDULE E, PART I, LINE 6 OUR PUBLIC CHARTER SCHOOLS RECEIVE THE BULK OF THEIR FUNDING FROM THE STATE AND FEDERAL GOVERNMENT. X 1 0 X X 0 0 0 0 0 0 0 0 0 MARGARET G FORTUNE PRESIDENT/CEO 305038 0 0 0 7200 0 12489 0 18941 0 343668 0 0 0 BONNIE BENSEN CHIEF FINANCIAL OFFICER 265168 0 0 0 0 0 10721 0 21363 0 297252 0 0 0 MICHELLE GRACE SECRETARY 226243 0 0 0 0 0 9050 0 22926 0 258219 0 0 0 JEROLD LIGONS DIRECTOR OF FACILITIES 184734 0 0 0 0 0 0 0 22722 0 207456 0 0 0 WESLEY PEPPER CHIEF ACADEMIC OFFICER 170481 0 0 0 0 0 0 0 23329 0 193810 0 0 0 MALLORY AREVALOS DIRECTOR OF FISCAL SERVICES 142948 0 0 0 0 0 2796 0 18881 0 164625 0 0 0 CROCHETT KARA DIRECTOR OF HUMAN RESOURCES 130101 0 0 0 0 0 2729 0 21363 0 154193 0 0 0 AKELE NEWTON PRINCIPAL 133536 0 0 0 0 0 1335 0 17560 0 152431 0 0 0 PART I, LINE 1A THE PRESIDENT/CEO RECEIVES AN AUTO ALLOWANCE THAT IS INCLUDED IN TAXABLE COMPENSATION. A CALIFORNIA SCHOOL FINANCE AUTHORITY 680280917 13058TUM0 2024-11-13 73339451 SEE PART IV 0 0 0 B CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK 630304653 13034A5W6 2024-11-13 9400000 SEE PART IV 0 0 0 A 73614426 2692633 2109009 1500744 6666 54373375 7683911 7940721 0 0 0 0 B 9435244 590299 230685 8115732 1088827 0 0 0 0 A 0 1 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 1 0 0 0.00240 0.00000 0.00240 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 BOND A AND B, PART I, COLUMN (F): THE PROCEEDS OF THE BONDS WERE ISSUED TO FINANCE THE COST OF ACQUISITION, CONSTRUCTION, EXPANSION, REMODELING, RENOVATION, IMPROVEMENT, FURNISHING, AND/OR EQUIPPING OF CERTAIN CHARTER SCHOOL EDUCATION FACILITIES. THE PROCEEDS PARTLY FINANCED THE REPAYMENT OF AN OUTSTANDING LOAN TO THE EQUITABLE FACILITIES FUND. BOND A AND B, PART I, COLUMN (E) AND PART II, LINE 3: THE DIFFERENCE BETWEEN THE BOND ISSUE PRICES AND THE TOTAL PROCEEDS OF THE ISSUES WERE DUE TO INVESTMENT PROCEEDS. X COMPUTERS 1 29147 0 0 0 0 PART I, COLUMN (B): THE AMOUNT REPORTED IN SCHEDULE M, PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 8B THERE WERE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER AND ONCE THAT REVIEW IS COMPLETE, THE CFO REVIEWS IT WITH THE CEO. THE REPORT IS PROVIDED TO THE BOARD BEFORE FILING AND AT THE NEXT SCHEDULED BOARD MEETING, THE FORM 990 IS PRESENTED TO THE BOARD AS AN INFORMATION ITEM. FORM 990, PART VI, SECTION B, LINE 12C INDIVIDUALS HOLDING DESIGNATED POSITIONS SHALL FILE THEIR STATEMENTS OF ECONOMIC INTERESTS WITH FORTUNE AS CONSISTENT WITH CURRENT FPPC GUIDANCE. FORTUNE SHALL RETAIN THE ORIGINAL STATEMENTS AT FORTUNE, AND SHALL MAKE AND FORWARD COPIES TO ITS CHARTER SCHOOLS' AUTHORIZERS, AS REQUESTED. DESIGNATED POSITIONS INCLUDE MEMBERS OF THE BOARD OF DIRECTORS, PRESIDENT/CHIEF EXECUTIVE OFFICER, CHIEF OF STAFF/DIRECTOR OF OPERATIONS, CHIEF FINANCIAL OFFICER, DIRECTOR OF HUMAN RESOURCES, VICE PRESIDENT OF ACADEMIC AFFAIRS, AND PRINCIPALS. ALL LISTED POSITIONS ARE ASSIGNED TO DISCLOSURE CATEGORIES I, II, AND III. DESIGNATED POSITIONS ASSIGNED TO CATEGORY I MUST REPORT: A) INTERESTS IN REAL PROPERTY WHICH ARE LOCATED IN WHOLE OR IN PART WITHIN THE BOUNDARIES (AND A TWO MILE RADIUS) OF ANY COUNTY IN WHICH FORTUNE OPERATES; B) INVESTMENTS IN, INCOME, INCLUDING GIFTS, LOANS, AND TRAVEL PAYMENTS FROM, AND BUSINESS POSITIONS IN ANY BUSINESS ENTITY OF THE TYPE WHICH ENGAGES IN THE ACQUISITION OR DISPOSAL OF REAL PROPERTY OR ARE ENGAGED IN BUILDING CONSTRUCTION OR DESIGN; C) INVESTMENTS IN, INCOME, INCLUDING GIFTS, LOANS, AND TRAVEL PAYMENTS, FROM, AND BUSINESS POSITIONS IN ANY BUSINESS ENTITY OF THE TYPE WHICH ENGAGES IN THE MANUFACTURE, SALE, REPAIR, RENTAL OR DISTRIBUTION OF SCHOOL SUPPLIES, BOOKS, MATERIALS, SCHOOL FURNISHINGS OR EQUIPMENT TO BE UTILIZED BY FORTUNE. DESIGNATED POSITIONS ASSIGNED TO CATEGORY II MUST REPORT: INVESTMENTS IN, INCOME, INCLUDING GIFTS, LOANS, AND TRAVEL PAYMENTS, FROM AND BUSINESS POSITIONS IN ANY BUSINESS ENTITY OF THE TYPE WHICH ENGAGES IN THE MANUFACTURE, SALE, REPAIR, RENTAL OR DISTRIBUTION OF SCHOOL SUPPLIES, BOOKS, MATERIALS, SCHOOL FURNISHINGS OR EQUIPMENT TO BE UTILIZED BY FORTUNE, ITS PARENTS, TEACHERS AND STUDENTS FOR EDUCATIONAL PURPOSES. THIS INCLUDES, BUT IS NOT LIMITED TO: EDUCATIONAL SUPPLIES, TEXTBOOKS AND ITEMS USED FOR EXTRACURRICULAR COURSES. CATEGORY III DESIGNATED POSITIONS MUST REPORT: INVESTMENTS IN, INCOME, INCLUDING GIFTS, LOANS, AND TRAVEL PAYMENTS, FROM SOURCES WHICH ARE ENGAGED IN THE PERFORMANCE OF WORK OR SERVICES OF THE TYPE TO BE UTILIZED BY FORTUNE, ITS PARENTS, TEACHERS AND STUDENTS FOR EDUCATIONAL PURPOSES. THIS INCLUDES, BUT IS NOT LIMITED TO, STUDENT SERVICES COMMONLY PROVIDED IN PUBLIC SCHOOLS SUCH AS SPEECH THERAPISTS AND COUNSELORS. FORM 990, PART VI, SECTION B, LINE 15 IN JUNE 2024, THE BOARD WAS PRESENTED WITH AN EXECUTIVE COMPENSATION STUDY FOR THE PRESIDENT/CEO, CFO AND THE COO IN PUBLIC SESSION AND VOTED TO APPROVE RESOLUTIONS FOR THE RECOMMENDED COMPENSATION FOR THE 2024-25 FISCAL YEAR. DOCUMENTS SUBSTANTIATING THE RECOMMENDED COMPENSATION ARE INCLUDED IN THE PUBLIC BOARD PACKET AND THE PROCEEDINGS ARE DOCUMENTED IN THE BOARD MINUTES. THIS IS AN ANNUAL PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES COPIES OF ITS GOVERNANCE DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL/CONSULTING: PROGRAM SERVICE EXPENSES 16,151,299. MANAGEMENT AND GENERAL EXPENSES -5,831,598. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,319,701. FORTUNE FACILITIES LLC 2890 GATEWAY OAK DRIVE SUITE 100 SACRAMENTO CA 95833 991504510 SEE PART VII CA 3248215 79649758 REX AND MARGARET FORTUNE SCHOOL OF EDUCATION PART II, COLUMN (B) - PRIMARY ACTIVITY: SUPPORT THE CHARTER SCHOOLS AND HOLD TITLE TO PROPERTY BOTH REAL & PERSONAL