Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
The Forman S Acton Educational
Foundation Inc
Number and street (or P.O. box number if mail is not delivered to street address)PO Box 181
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Salem, NJ08079
A Employer identification number

47-1997891
B Telephone number (see instructions)

(844) 436-7626
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$39,786,475J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 131 131  
4 Dividends and interest from securities... 740,239 740,239  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 4,349,513
b Gross sales price for all assets on line 6a 16,705,374
7 Capital gain net income (from Part IV, line 2)... 1,206,740
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 5,089,883 1,947,110  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 372,224 23,165   349,059
14 Other employee salaries and wages...... 175,412 0   175,412
15 Pension plans, employee benefits....... 32,545 0   32,545
16a Legal fees (attach schedule)......... Click to see attachment 15,903 0   15,903
b Accounting fees (attach schedule)....... Click to see attachment 35,023 8,756   26,267
c Other professional fees (attach schedule).... Click to see attachment 254,017 207,895   46,122
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 85,689 1,617   45,141
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 13,312 0   13,312
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 151,882 5,805   146,077
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,136,007 247,238   849,838
25 Contributions, gifts, grants paid....... 730,756 730,756
26 Total expenses and disbursements. Add lines 24 and 25 1,866,763 247,238   1,580,594
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 3,223,120
b Net investment income (if negative, enter -0-) 1,699,872
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 1,258,922 1,005,842 1,005,842
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,456,540 Click to see attachment2,309,992 2,309,992
b Investments—corporate stock (attach schedule)....... 25,991,200 Click to see attachment26,894,478 26,894,478
c Investments—corporate bonds (attach schedule)....... 7,863,702 Click to see attachment9,576,163 9,576,163
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 36,570,364 39,786,475 39,786,475
Liabilities 17 Accounts payable and accrued expenses.......... 9,367 2,358
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 9,367 2,358
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 36,560,997 39,784,117
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 36,560,997 39,784,117
30 Total liabilities and net assets/fund balances (see instructions). 36,570,364 39,786,475
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
36,560,997
2
Enter amount from Part I, line 27a .....................
2
3,223,120
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
39,784,117
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
39,784,117
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a WASTE MGMT P 2019-11-05 2020-07-20
b BRCLY SUB P 2016-07-29 2020-10-14
c CAPITAL ONE P 2018-11-27 2020-05-12
d HARTFORD P 2016-08-01 2020-03-30
e AT&T INC P 2019-06-05 2020-08-05
MARRIOT P 2018-04-16 2020-07-15
NEWMONT MNG P 2019-08-02 2020-03-19
OCCIDENTAL PET P 2017-10-02 2020-05-21
QUALCOMM INC P 2016-07-29 2020-08-14
TARGET CORP P 2016-07-29 2020-01-28
EXXON MOBIL CORP P 2020-05-21 2020-10-23
GS ACTIVEBETA P 2020-01-24 2020-06-03
ISHS MSCI CANADA P 2019-11-15 2020-03-18
ISHS MSCI GERMAN P 2020-07-29 2020-10-29
ISHS CORE S&P 500 P 2019-05-31 2020-03-25
ISHS US FINL SVCS P 2019-11-15 2020-07-29
ISHS AC ASIA EX JPN P 2020-04-15 2020-06-03
ISHS MSCI EAFE M VOL P 2020-03-25 2020-06-03
ISHS CORE MSCI P 2019-05-31 2020-03-10
JPM BETABLDR MSCI P 2020-04-15 2020-07-29
HLTHCR SEL SECT SPDR P 2020-03-18 2020-10-02
GLBL US INFRA DEV P 2019-11-14 2020-03-25
GS ACTIVEBETA LGCP P 2019-08-12 2020-10-23
INV AEROSP & DEF P 2019-07-18 2020-03-18
INV EXCHG S&P 500 P 2018-11-21 2020-03-10
INVESCO RUSL 1000 P 2019-03-08 2020-07-29
ISHS MSCI CANADA P 2018-10-22 2020-03-18
ISHS US FINL SVCS P 2016-11-15 2020-03-25
ISHS MSCI EAFE GRW P 2018-10-22 2020-01-24
ISHS CORE MSCI EAFE P 2017-07-20 2020-03-10
HLTHCR SEL SECT SPDR P 2017-07-20 2020-10-02
CONS STPLS SEL SPDR P 2016-07-18 2020-10-23
CONS DSCR SEL SPDR P 2016-12-06 2020-03-25
UPS INC P 2019-09-04 2020-10-02
VNGRD SHRT TRM CORP P 2019-08-16 2020-10-02
VNGRD INTRM TERM P 2018-10-22 2020-03-25
WSDMTR LGCP DIV P 2016-07-18 2020-03-18
ISHS RUSS 2000 INDX P 2020-03-27 2020-06-12
ISHS AC ASIA EX JPN P 2020-03-16 2020-06-12
ISHS CORE MSCI EUR P 2020-01-28 2020-03-27
CONS STPLS SEL SPDR P 2020-01-28 2020-12-07
ENERGY SEL SECT SPDR P 2020-03-27 2020-06-12
FINL SEL SECT SPDR P 2020-03-20 2020-09-01
UTILS SEL SECT SPDR P 2020-03-02 2020-06-12
ISHS CORE MSCI EUR P 2016-07-14 2020-03-27
HLTHCR SEL SECT SPDR P 2016-07-14 2020-01-28
CONS STPLS SEL SPDR P 2016-07-14 2020-03-16
CONS DSCR SEL SPDR P 2016-07-14 2020-03-16
TECH SEL SECT SPDR P 2016-07-14 2020-01-28
SELECT COMMN SVC SEL P 2018-09-20 2020-01-28
UTILS SEL SECT SPDR P 2019-03-13 2020-03-27
VNGRD FTSE ALL WORLD P 2016-07-14 2020-03-02
VNGRD FTSE PACIFIC P 2016-07-14 2020-03-20
AMERN EXPRESS CO P 2020-06-12 2020-06-17
BP PLC SPON ADR P 2019-12-23 2020-10-23
BERKLEY W R CORP P 2020-03-19 2020-05-06
BOEING COMPANY P 2020-05-12 2020-06-02
CDK GLBL INC P 2019-12-23 2020-04-02
CINEMARK HLDGS P 2019-12-23 2020-02-23
CORTEVA INC P 2019-12-23 2020-06-17
DUPONT DE NEMOURS INC P 2019-04-05 2020-03-06
ENTERGY CORP NEW P 2020-03-06 2020-06-02
FIDELITY NATL INFO SVCS P 2020-02-07 2020-05-06
FIRST HAWAIIAN INC P 2019-09-12 2020-08-24
FISERV INC P 2019-07-25 2020-05-06
GARTNER INC P 2020-03-31 2020-05-06
HASBRO INC P 2019-11-20 2020-06-02
HOST HOTELS & RESORTS P 2020-04-13 2020-05-06
HUDSON PACIFIC PPTYS INC P 2020-04-07 2020-05-06
HUNTINGTON BANCSHS INC P 2019-09-11 2020-02-27
IAA INC P 2019-04-22 2020-01-13
INSPERITY INC P 2020-01-15 2020-04-02
JPMORGAN CHASE & CO P 2020-03-02 2020-05-06
ESTEE LAUDER CO INC P 2020-03-17 2020-05-06
LOWES COMPANIES INC P 2019-07-15 2020-05-06
MARATHON PETROLEUM CORP P 2019-07-15 2020-05-06
NISOURCE INC P 2020-01-13 2020-05-06
PARKER HANNIFIN CORP P 2019-11-05 2020-05-06
PEPSICO INC P 2020-03-16 2020-05-06
PROGRESSIVE CORP OH P 2020-03-06 2020-05-06
ROYAL DUTCH SHELL P 2019-02-23 2020-07-31
SS&C TECHS HOLDINGS INC P 2019-09-12 2020-07-31
SMITH AO P 2019-11-05 2020-05-06
SYSCO CORP P 2020-03-31 2020-11-10
ULTA BEAUTY INC P 2019-10-31 2020-05-06
UNILEVER N V NY SHS NEW P 2019-12-23 2020-03-06
UNITED BANKSHARES INC WV P 2019-09-12 2020-03-02
VIATRIS INC P 2019-12-23 2020-11-20
WATERS CORP P 2019-07-02 2020-03-16
ALCON INC P 2019-07-26 2020-05-06
ABBOTT LABORATORIES P 2016-12-28 2020-06-17
ANALOG DEVICES INC P 2016-07-14 2020-05-06
APPLE INC P 2016-07-14 2020-01-22
BP PLC SPON ADR P 2018-11-20 2020-05-06
BWX TECHS INC P 2016-07-14 2020-05-06
BERKSHIRE HATHAWAY B NEW P 2016-07-14 2020-05-06
BOOZ ALLEN HAMILTON A P 2018-03-28 2020-05-06
BOSTON SCIENTIFIC CORP P 2019-01-04 2020-05-06
CDK GLBL INC P 2018-08-09 2020-04-02
CINEMARK HLDGS INC P 2016-07-14 2020-02-26
COMCAST CORP A NEW P 2016-07-14 2020-05-06
CORTEVA INC P 2019-07-14 2020-05-06
DOLLAR GENL CORP NEW P 2017-04-21 2020-05-06
DUPONT DE NEMOURS INC P 2016-07-14 2020-03-06
EBAY INC P 2016-07-14 2020-02-03
FIRST AMERN FINL CORP P 2018-11-21 2020-06-17
FIRST HAWAIIAN INC P 2018-09-27 2020-05-06
GLAXOSMITHKLINE PLC ADR P 2016-07-14 2020-05-06
HEXCEL CORP P 2018-12-13 2020-06-02
HUNTINGTON BANCSHS INC P 2017-06-30 2020-02-03
HUNTSMAN CORP P 2018-12-27 2020-06-02
JOHNSON & JOHNSON P 2016-07-14 2020-05-06
LAMAR ADVERTISING NEW A P 2018-12-20 2020-06-02
M&T BANK CORP P 2016-07-14 2020-05-06
MICROSOFT CORP P 2016-07-14 2020-01-22
MONDELEZ INTL INC CL A P 2018-05-10 2020-05-06
NUVASIVE INC P 2018-07-02 2020-05-06
PPL CORP P 2016-09-16 2020-05-06
PAYPAL HLDGS INC P 2016-07-14 2020-05-06
PFIZER INC P 2016-07-14 2020-05-06
PIONEER NATURAL RES CO P 2018-11-20 2020-02-27
PROCTER & GAMBLE CO P 2016-07-14 2020-01-13
ROYAL DUTCH SHELL ADR B P 2016-07-14 2020-05-06
STORE CAPITAL CORP P 2018-02-09 2020-05-06
SYSCO CORP P 2016-07-14 2020-05-06
3M COMPANY P 2016-07-14 2020-05-06
TRUIST FINL CORP P 2016-07-14 2020-04-01
UNILEVER N V NY SHS NEW P 2016-07-14 2020-03-02
UNITED BANKSHARES INC WV P 2018-02-09 2020-02-10
VERIZON COMMNS INC P 2016-07-14 2020-05-06
VIATRIS INC P 2016-12-18 2020-11-20
WALMART INC P 2016-07-14 2020-03-27
WOODWARD INC P 2018-02-21 2020-02-27
ZIMMER BIOMET HLDGS INC P 2016-07-14 2020-05-06
AMDOCS LTD P 2019-01-16 2020-05-06
EATON CORP PLC P 2016-07-14 2020-05-06
EVEREST REINSURANCE GRP P 2018-06-26 2020-05-22
MEDTRONIC PLC P 2016-07-14 2020-05-06
CHUBB LTD P 2016-07-14 2020-06-02
TE CONNECTIVITY LTD P 2019-01-16 2020-05-06
ADOBE INC P 2019-09-23 2020-02-06
ADVANCE AUTO PARTS INC P 2019-09-23 2020-06-17
AKAMAI TECHNOLOGIES INC P 2019-09-23 2020-04-13
ALPHABET INC C P 2019-09-23 2020-06-17
ALPHABET INC A P 2019-09-23 2020-06-17
AMAZON.COM INC P 2019-09-23 2020-06-18
AMERN EXPRESS CO P 2019-09-23 2020-06-19
AMGEN INC P 2020-03-13 2020-06-20
APPLE INC P 2019-09-23 2020-06-21
BIOMARIN PHARM INC P 2019-09-23 2020-06-17
BLACKROCK INC P 2019-09-23 2020-01-08
CH ROBINSON WORLDWID NEW P 2019-09-23 2020-11-18
CARRIER GLOBAL CORP P 2020-02-26 2020-11-18
WALT DISNEY CO P 2019-09-23 2020-04-09
ECOLAB IN P 2019-09-23 2020-04-09
EQUINIX INC P 2019-09-23 2020-06-17
FACEBOOK INC A P 2019-09-23 2020-06-17
FIDELITY NATL INFO SVCS P 2019-09-23 2020-06-17
GRAINGER W W INC P 2019-09-23 2020-03-09
HOME DEPOT INC P 2019-09-23 2020-04-06
HONEYWELL INTL INC P 2019-09-23 2020-05-19
JOHNSON & JOHNSON P 2019-09-23 2020-03-03
MC CORMICK & CO INC P 2019-09-23 2020-03-06
MICROSOFT CORP P 2019-09-23 2020-05-12
NUTANIX INC A P 2019-09-23 2020-06-17
NVIDIA CORP P 2019-09-23 2020-04-20
ORACLE CORP P 2019-09-23 2020-01-15
OTIS WORLDWIDE CORP P 2020-02-26 2020-05-28
PALO ALTO NETWORKS INC P 2019-09-23 2020-02-03
PIONEER NATURAL RES CO P 2019-09-23 2020-04-20
QUALCOMM INC P 2019-09-13 2020-06-17
RAYTHEON TECHS CORP P 2020-02-26 2020-06-17
SALESFORCE.COM INC P 2019-11-06 2020-03-05
SCHWAB CHARLES CORP NEW P 2019-09-23 2020-03-05
ULTA BEAUTY INC P 2020-05-21 2020-11-24
UPS INC B P 2019-09-23 2020-06-17
VISA INC CL A P 2019-09-23 2020-06-17
LINDE PLC P 2019-09-23 2020-02-26
AKAMAI TECHNOLOGIES INC P 2019-09-23 2020-12-14
ALIBABA GRP HLDG SPN ADS P 2019-09-13 2020-10-28
AMERN EXPRESS CO P 2019-09-23 2020-11-06
CH ROBINSON WORLDWID NEW P 2019-09-23 2020-10-05
COMCAST CORP A NEW P 2016-07-14 2020-12-18
UPS INC B P 2019-09-23 2020-12-07
AT&T INC. P 2020-07-30 2020-10-02
BLUE CUBE P 2020-06-24 2020-10-15
CROWN CASTLE P 2020-05-13 2020-10-30
ETRADE FINL P 2020-05-13 2020-08-25
FHLMC ZT1798 P 2020-05-12 2020-09-14
FHLMC SD8006 P 2019-07-29 2020-06-08
FNMA AJ9355 P 2020-06-26 2020-09-14
FNMA BE3767 P 2020-06-24 2020-08-10
FNMA MA3521 P 2019-05-16 2020-03-27
FNMA MA3383 P 2020-05-19 2020-07-09
FNMA MA3744 P 2019-07-22 2020-03-25
KINDER MORGAN P 2020-05-13 2020-12-15
MASTERCARD P 2020-03-25 2020-09-15
TARGET CORP P 2020-03-27 2020-10-08
UST BOND P 2020-02-28 2020-10-19
UST NOTE P 2019-08-21 2020-06-10
UST TIPS P 2019-08-07 2020-03-09
UST NOTE P 2019-10-29 2020-05-21
UST NOTE P 2019-12-19 2020-03-25
WF NOTE P 2020-04-27 2020-08-18
AMC NETWORKS P 2017-07-13 2020-02-14
AUTONATION P 2017-12-07 2020-01-07
CROWN CASTLE P 2017-12-07 2020-08-03
ETRADE FINL P 2017-09-28 2020-08-25
FHLMC ZT1798 P 2019-07-10 2020-09-14
FNMA AS6520 P 2018-11-05 2020-08-10
FNMA BH9277 P 2019-01-18 2020-07-09
FNMA MA3521 P 2019-05-16 2020-06-08
FNMA MA3383 P 2019-03-19 2020-07-09
HEALTH CARE P 2016-11-14 2020-06-22
ILFC SR NOTE P 2017-02-16 2020-03-06
KINDER MORGAN P 2017-01-20 2020-04-15
LAMAR MEDIA P 2016-07-21 2020-02-04
MASTEC INC P 2017-12-18 2020-08-19
UST BOND P 2018-10-26 2020-10-19
MASTERCARD Inc P 2020-06-23 2020-08-19
tmobile USA P 2020-05-21 2020-07-06
FHLMC G08677 P 2019-07-28 2020-06-21
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 126,250   126,250 0
b 111,000   111,000 0
c 134,000   134,000 0
d 137,000   137,000 0
e 126,830   114,206 12,624
118,557   116,969 1,588
156,107   150,096 6,011
86,800   123,116 -36,316
157,059   152,219 4,840
142,412   142,549 -137
44,796   58,373 -13,577
94,367   106,546 -12,179
48,726   77,424 -28,698
93,304   104,019 -10,715
157,231   177,556 -20,325
101,521   116,745 -15,224
102,833   91,976 10,857
266,538   230,663 35,875
151,698   165,367 -13,669
142,972   131,756 11,216
160,618   127,251 33,367
56,954   76,290 -19,336
130,906   82,737 48,169
61,603   59,953 1,650
33,854   74,195 -40,341
136,994   123,737 13,257
37,358   54,166 -16,808
174,460   176,859 -2,399
94,530   78,924 15,606
248,238   279,877 -31,639
116,396   91,049 25,347
99,332   83,046 16,286
36,903   31,225 5,678
60,177   43,169 17,008
95,827   93,831 1,996
423,256   371,795 51,461
47,455   49,870 -2,415
15,298   12,552 2,746
1,623   1,362 261
58,675   60,837 -2,162
143,146   128,457 14,689
20,432   14,889 5,543
13,714   10,563 3,151
231,466   214,698 16,768
260,000   293,292 -33,292
362,101   258,630 103,471
878,040   805,434 72,606
282,721   212,368 70,353
885,294   440,500 444,794
146,250   124,271 21,979
205,130   209,503 -4,373
382,533   348,161 34,372
20,080   20,622 -542
6,458   6,178 280
5,479   13,089 -7,610
22,632   19,487 3,145
28,066   21,336 6,730
4,353   8,148 -3,795
18,417   24,604 -6,187
2,716   2,821 -105
12,366   20,867 -8,501
35,009   43,605 -8,596
39,977   43,352 -3,375
17,904   29,662 -11,758
36,294   32,904 3,390
28,664   24,837 3,827
17,090   21,622 -4,532
20,481   19,297 1,184
17,113   16,597 516
19,819   23,401 -3,582
65,517   47,123 18,394
24,759   64,592 -39,833
48,147   58,769 -10,622
39,249   31,696 7,553
53,062   46,970 6,092
23,701   38,201 -14,500
25,747   29,809 -4,062
59,195   62,041 -2,846
18,641   17,066 1,575
34,846   35,507 -661
7,152   14,907 -7,755
27,557   25,020 2,537
30,391   34,322 -3,931
26,474   17,279 9,195
41,506   42,955 -1,449
9,224   9,520 -296
19,350   25,598 -6,248
1     1
49,442   60,102 -10,660
50,452   52,179 -1,727
35,182   14,431 20,751
60,029   32,061 27,968
120,975   35,120 85,855
44,425   88,914 -44,489
49,205   30,327 18,878
84,099   66,753 17,346
60,308   28,569 31,739
28,509   19,624 8,885
47,494   96,809 -49,315
54,438   81,102 -26,664
46,802   40,797 6,005
21,566   22,391 -825
49,252   18,897 30,355
30,008   56,018 -26,010
60,673   47,521 13,152
60,098   56,065 4,033
56,746   91,629 -34,883
24,401   24,191 210
34,748   51,069 -16,321
91,687   92,888 -1,201
34,341   34,026 315
44,270   37,044 7,226
46,084   45,690 394
32,893   37,413 -4,520
109,928   30,829 79,099
54,880   41,816 13,064
24,974   21,020 3,954
98,540   128,992 -30,452
152,504   40,059 112,445
24,179   22,164 2,015
45,051   71,666 -26,615
72,384   51,727 20,657
57,863   114,946 -57,083
28,444   29,023 -579
62,143   60,060 2,083
54,567   65,611 -11,044
65,343   84,722 -19,379
114,720   90,035 24,685
87,365   92,668 -5,303
51,006   50,888 118
3     3
60,363   38,093 22,270
60,886   53,340 7,546
30,965   31,439 -474
33,356   31,470 1,886
51,433   33,513 17,920
50,842   57,062 -6,220
31,352   27,472 3,880
50,054   52,810 -2,756
43,067   41,337 1,730
50,210   34,614 15,596
17,167   18,547 -1,380
17,368   16,596 772
234,473   196,846 37,627
158,802   136,227 22,575
108,423   73,390 35,033
11,099   12,548 -1,449
13,185   11,336 1,849
62,554   36,076 26,478
36,325   23,936 12,389
72,988   64,483 8,505
35,283   29,114 6,169
12,553   20,100 -7,547
31,752   39,876 -8,124
31,847   31,794 53
23,132   19,215 3,917
35,675   28,263 7,412
9,873   9,327 546
11,209   12,305 -1,096
31,959   32,584 -625
116,564   133,689 -17,125
103,377   106,252 -2,875
45,578   54,636 -9,058
71,407   52,444 18,963
13,124   14,886 -1,762
37,194   18,609 18,585
110,076   121,617 -11,541
25,498   31,079 -5,581
28,931   25,896 3,035
33,076   56,209 -23,133
13,281   11,406 1,875
18,203   20,541 -2,338
14,006   12,295 1,711
79,395   93,837 -14,442
2,277   1,738 539
16,440   18,267 -1,827
20,803   18,732 2,071
84,561   84,937 -376
25,502   21,800 3,702
52,970   30,499 22,471
105,709   109,192 -3,483
41,832   36,372 5,460
35,977   25,108 10,869
15,702   11,223 4,479
78,757   79,252 -495
71,729   71,707 22
38,394   38,102 292
44,834   43,275 1,559
16,485   16,852 -367
66,822   66,433 389
44,033   44,306 -273
137,838   139,058 -1,220
67,623   67,942 -319
40,082   40,666 -584
18,974   18,405 569
22,306   21,690 616
86,160   80,349 5,811
95,166   89,194 5,972
18,339   17,477 862
124,008   115,330 8,678
51,474   49,357 2,117
188,178   180,073 8,105
40,614   40,258 356
76,190   75,658 532
20,500   19,817 683
41,351   39,191 2,160
44,178   41,618 2,560
44,834   39,428 5,406
73,918   73,147 771
24,614   22,221 2,393
91,330   86,286 5,044
54,300   53,738 562
82,521   79,542 2,979
49,819   45,278 4,541
38,854   38,165 689
48,671   45,373 3,298
45,824   45,336 488
25,203   25,016 187
258,066   200,772 57,294
45,366   45,366 0
66,409   66,409 0
61,189   58,589 2,600
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       0
b       0
c       0
d       0
e       12,624
      1,588
      6,011
      -36,316
      4,840
      -137
      -13,577
      -12,179
      -28,698
      -10,715
      -20,325
      -15,224
      10,857
      35,875
      -13,669
      11,216
      33,367
      -19,336
      48,169
      1,650
      -40,341
      13,257
      -16,808
      -2,399
      15,606
      -31,639
      25,347
      16,286
      5,678
      17,008
      1,996
      51,461
      -2,415
      2,746
      261
      -2,162
      14,689
      5,543
      3,151
      16,768
      -33,292
      103,471
      72,606
      70,353
      444,794
      21,979
      -4,373
      34,372
      -542
      280
      -7,610
      3,145
      6,730
      -3,795
      -6,187
      -105
      -8,501
      -8,596
      -3,375
      -11,758
      3,390
      3,827
      -4,532
      1,184
      516
      -3,582
      18,394
      -39,833
      -10,622
      7,553
      6,092
      -14,500
      -4,062
      -2,846
      1,575
      -661
      -7,755
      2,537
      -3,931
      9,195
      -1,449
      -296
      -6,248
      1
      -10,660
      -1,727
      20,751
      27,968
      85,855
      -44,489
      18,878
      17,346
      31,739
      8,885
      -49,315
      -26,664
      6,005
      -825
      30,355
      -26,010
      13,152
      4,033
      -34,883
      210
      -16,321
      -1,201
      315
      7,226
      394
      -4,520
      79,099
      13,064
      3,954
      -30,452
      112,445
      2,015
      -26,615
      20,657
      -57,083
      -579
      2,083
      -11,044
      -19,379
      24,685
      -5,303
      118
      3
      22,270
      7,546
      -474
      1,886
      17,920
      -6,220
      3,880
      -2,756
      1,730
      15,596
      -1,380
      772
      37,627
      22,575
      35,033
      -1,449
      1,849
      26,478
      12,389
      8,505
      6,169
      -7,547
      -8,124
      53
      3,917
      7,412
      546
      -1,096
      -625
      -17,125
      -2,875
      -9,058
      18,963
      -1,762
      18,585
      -11,541
      -5,581
      3,035
      -23,133
      1,875
      -2,338
      1,711
      -14,442
      539
      -1,827
      2,071
      -376
      3,702
      22,471
      -3,483
      5,460
      10,869
      4,479
      -495
      22
      292
      1,559
      -367
      389
      -273
      -1,220
      -319
      -584
      569
      616
      5,811
      5,972
      862
      8,678
      2,117
      8,105
      356
      532
      683
      2,160
      2,560
      5,406
      771
      2,393
      5,044
      562
      2,979
      4,541
      689
      3,298
      488
      187
      57,294
      0
      0
      2,600
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,206,740
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 23,628
c All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 23,628
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 23,628
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 30,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 30,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 6,372
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet6,372 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNJ
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletwww.formanscholars.org
    14
    The books are in care ofbulletThe Forman S Acton Educational Foundation Telephone no.bullet (844) 436-7626

    Located atbullet205 E BroadwaySalemNJ ZIP+4bullet08079
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    Laurence Van Meter President & CEO
    28.00     		115,500 4,620 13,154
    205 E Broadway
    Salem,NJ08079
    Ken Aldridge Chairperson
    4.00     		0 0 0
    205 E Broadway
    Salem,NJ08079
    Darrell Edmonds Secretary & Trustee
    2.00     		0 0 0
    205 E Broadway
    Salem,NJ08079
    Steve Waddington Treasurer & Trustee
    2.00     		0 0 0
    205 E Broadway
    Salem,NJ08079
    Mike Gorman Trustee
    2.00     		0 0 0
    205 E Broadway
    Salem,NJ08079
    John Mulhorn Trustee
    2.00     		0 0 0
    205 E Broadway
    Salem,NJ08079
    Najwa Tatum Trustee
    2.00     		0 0 0
    205 E Broadway
    Salem,NJ08079
    Madinah Thomas Trustee
    2.00     		0 0 0
    205 E Broadway
    Salem,NJ08079
    Karen Washington Trustee
    2.00     		0 0 0
    205 E Broadway
    Salem,NJ08079
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    Kortney Swanson Davis COO
    40.00     		140,000 5,600 13,154
    205 E Broadway
    Salem,NJ08079
    William Wilson Scholarship Director
    40.00     		109,000 4,360 0
    205 E Broadway
    Salem,NJ08079
    Kim Smith Administrative/Finan
    40.00     		67,500 2,700 13,154
    205 E Broadway
    Salem,NJ08079
    Joyce Elwell Acorn Fund Coordinat
    40.00     		66,000 2,640 13,154
    205 E Broadway
    Salem,NJ08079
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    Janney Montgomery Scott LLC CONSULTANTS 207,895
    1717 Arch Street
    Philadelphia,PA19103
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 Grants to support students living in or attending public school in Salem City, NJ and related programmatic expenses, providing educational enhancing activities to preschool, elementary, middle and high school students. 975,225
    2 Scholarships awarded to high school seniors and early scholarship account funding for Salem City students. 563,560
    3 During the current tax year, the Foundation provided a laptop, printer, or other IT supplies to the scholarship recipient under an emergency relief program designed to address homeschool requirements during the COVID-19 pandemic. Each laptop costing approximately $1,500 was provided so that the student / scholarship recipient could continue with academic studies during the remote learning requirements associated with the pandemic. Information for each student that requested a laptop is maintained by the Foundation. Short term IRS relief program guidance was reviewed and followed for this program. 9,415
    4 During the current tax year, the Foundation provided small emergency financial grants to students that are already part of the scholarship program to cover food off campus and initial college deposits. Normally the students would have access to food on campus, however due to COVID 19 pandemic, they did remote learning and did not have enough funds to afford food in the remote environment. The Foundation provided this short term emergency relief program so that students could continue to thrive while they were in their remote learning environment. Short term IRS relief program guidance was reviewed and followed for this program. 8,041
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    35,023,664
    b
    Average of monthly cash balances.......................
    1b
    214,140
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    35,237,804
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    35,237,804
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    528,567
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    34,709,237
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,735,462
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,735,462
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    23,628
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    23,628
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,711,834
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,711,834
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,711,834
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    1,580,594
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,580,594
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,580,594
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 1,711,834
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 520,396
    b From 2016...... 30,636
    c From 2017......  
    d From 2018......  
    e From 2019...... 273,274
    fTotal of lines 3a through e........ 824,306
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 1,580,594
    a Applied to 2019, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 1,580,594
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 131,240 131,240
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 693,066
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		389,156
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		303,910
    10 Analysis of line 9:
    a Excess from 2016.... 30,636
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019.... 273,274
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    Kortney Swanson-Davis
    via Email
    Salem,NJ08079
    (844) 436-7626
    kortney@formanscholars.org
    bThe form in which applications should be submitted and information and materials they should include:
    The Foundation requires the grantee to complete a grant application on a form provided by the Foundation. The grant application requires the grantee to identify the purposes of the grant, the problem it is meant to address, the research suggesting the grant will be successful in addressing the problem and the indicators to be studied to demonstrate success. The application can be submitted to grants@formanscholars.org.
    cAny submission deadlines:
    Submission deadlines may be established.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    All scholarships are paid directly to the college to the account of the student to be used only for the cost of attendance as established by the college and are required to be the last dollars that do not replace other financial aid awards provided to the student.
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    Rick Wilson
    via email
    Salem,NJ08079
    (844) 436-7626
    rick@formanscholars.org
    bThe form in which applications should be submitted and information and materials they should include:
    Scholarship applicants can apply online at our portal at https://formanscholars.communityforce.com/Login.aspx
    cAny submission deadlines:
    Scholarship deadlines are dependent on the type of scholarship. See portal referenced above.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    All scholarships are paid directly to the college to the account of the Student and are required to be last dollars that do not replace other financial aid awards provided to the Student.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    Bloomsburg University
    400 E 2nd Street
    Bloomsburg,PA17815     		  PC The scholarship is awarded to a student via the university to pursue higher education. 10,000
    Boston University
    One Silber Way
    Boston,MA02215     		  PC The scholarship is awarded to a student via the university to pursue higher education. 3,572
    Bucknell University
    1 Dent Drive
    Lewisburg,PA17837     		  PC The scholarship is awarded to a student via the university to pursue higher education. 10,000
    Cairn University
    200 Manor Avenue
    Langhorne,PA19047     		  PC The scholarship is awarded to a student via the university to pursue higher education. 4,668
    Community Foundation of South Jersey
    14 Kings Highway Suite 102
    Haddonfield,NJ08033     		  PC This grant is awarded to a public charity to fund college costs via a Section 529 college savings account/early scholarship available to all children living in or attending public school in Salem City, NJ. 57,266
    Community Foundation of South Jersey
    14 Kings Highway Suite 102
    Haddonfield,NJ08033     		  PC This grant is awarded to create a scholarship fund to be used for college tuition and other related expenses for graduates of Salem City High School 250,000
    Community Foundation of South Jersey
    14 Kings Highway Suite 102
    Haddonfield,NJ08033     		  PC This grant is awarded to a public charity to create a COVID-19 Response Fund. 30,000
    Delaware State University
    1200 N Dupont Highway
    Dover,DE19901     		  PC The scholarship is awarded to a student via the university to pursue higher education. 7,500
    Drew University
    36 Madison Avenue
    Madison,NJ07940     		  PC The scholarship is awarded to a student via the university to pursue higher education. 39,400
    East Stroudsburg University
    200 Prospect St
    East Stroudsburg,PA18301     		  PC The scholarship is awarded to a student via the university to pursue higher education. 5,000
    Emergency Fund for Scholars
    PO Box 181
    Salem,NJ08079     		  PC The scholarship is awarded to a student via the university to pursue higher education during the Covid-19 Pandemic as Emergency relief. 17,455
    Farleigh Dickinson University
    285 Madison Avenue
    Madison,NJ07940     		  PC The scholarship is awarded to a student via the university to pursue higher education. 10,188
    Georgia Tech University
    North Ave NW
    Atlanta,GA30332     		  PC The scholarship is awarded to a student via the university to pursue higher education. 7,130
    Lafayette College
    PO Box 36479
    Newark,NJ07188     		  PC The scholarship is awarded to a student via the university to pursue higher education. 10,000
    Mercer County Community College
    1200 Old Trenton Rd
    West Windsor Township,NJ08550     		  PC The scholarship is awarded to a student via the university to pursue higher education. 1,619
    Messiah College
    One College Ave suite 4516
    Mechanicsburg,PA17055     		  PC The scholarship is awarded to a student via the university to pursue higher education. 15,000
    One Village Alliance
    75 Westside court
    Salem,NJ08079     		  PC Grant to provide funding for One Village Alliance who fosters a community-based, people-fueled approach with a mission to uplift children and their families on a holistic journey toward excellence through education, entrepreneurship and the arts. 65,530
    Rowan University
    201 Mullica Hill Road
    Glassboro,NJ08028     		  PC The scholarship is awarded to a student via the university to pursue higher education. 42,830
    Rutgers University- New Brunswick
    10 Seminary Place
    New Brunswick,NJ08901     		  PC The scholarship is awarded to a student via the university to pursue higher education. 15,787
    Senator Walter Rand Institute for Public Affairs
    411 Cooper Street
    Camden,NJ08102     		  PC Grant for research purpose 51,950
    Stockton University
    101 Vera King Paris Dr
    Galloway,NJ08205     		  PC The scholarship is awarded to a student via the university to pursue higher education. 27,657
    The Huddle
    42 Eakin Street
    Salem,NJ08079     		  PC Grant for an after-school program 2,260
    Thomas Jefferson University
    1101 Market Street 29th Floor
    Philadelphia,PA19107     		  PC The scholarship is awarded to a student via the university to pursue higher education. 5,000
    Towson University
    800 York Road
    Towson,MA21252     		  PC The scholarship is awarded to a student via the university to pursue higher education. 5,231
    University of Massachusetts
    120 Tillson Farm Road
    Amherst,MA01003     		  PC The scholarship is awarded to a student via the university to pursue higher education. 10,000
    University of Scranton
    800 Linden Street
    Scranton,PA18510     		  PC The scholarship is awarded to a student via the university to pursue higher education. 15,959
    University of Tampa
    401 W Kennedy Blvd Box L
    Tampa,FL33606     		  PC The scholarship is awarded to a student via the university to pursue higher education. 9,754
    Total .................................bullet 3a 730,756
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 131  
    4 Dividends and interest from securities....     14 740,239  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 4,349,513  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 5,089,883 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    5,089,883
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    The Forman S Acton Educational
     
    Foundation Inc
    EIN:
    47-1997891
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting fees 35,023 8,756   26,267

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    The Forman S Acton Educational
     
    Foundation Inc
    EIN:
    47-1997891
    Name of Bond End of Year Book Value End of Year Fair Market Value
    Ace Ina Hldgs Inc Sr Note Coupon:2.875% Maturity Date:2022-11-03 124,048 124,048
    Aflac Inc Sr Note Coupon:3.625% Maturity Date: 001055AL6 2023-06-15 158,495 158,495
    Air Lease Corp Sr Note Coupon:3.250% Maturity Date:2025-03-01 132,766 132,766
    American Elec Pwr SR Note Ser J Coupon:4.300% Maturity Date: 2028-12-01 151,789 151,789
    American Expr Co Sr Note Var Coupon:0.000% Maturity 025816BH1 Date:2018-05-2 81,372 81,372
    American Honda Fin Corp Medium Term Note 02665WAW1 145,072 145,072
    Amgen Inc Sr Note Coupon: 2.600% Maturity Date: 2026-08-19 146,290 146,290
    Amphenol Corp Sr Note Coupon:2.800% Maturity Date:2030-02-15 144,501 144,501
    Anheuser Busch Inbev Sa/Nv 79,418 79,418
    Anheuserbusch Inbev Worldwide Inc Note Coupon:4.750% Maturity Date:2029-01-2 200,054 200,054
    At&T Inc Glbl Note Coupon:5.250% Maturity Date:2037-03-01 138,028 138,028
    Autozone Inc Sr Note Coupon: 3.750% Maturity Date: 2029-04-18 153,380 153,380
    Avalonbay Cmntys Inc Medium Term Note Coupon:2.950% Maturity Date:2026-05-11 175,860 175,860
    Banc Amer Corp Sr Note Fxd/Var Coupon:4.244% Maturity Date:2038-04-24 92,364 92,364
    Borgwarner Inc Sr Note Coupon:2.650% Maturity Date:2027-07-01 80,647 80,647
    Boston Pptys Lp Sr Note Coupon:3.800% Maturity Date:2024-02-01 160,817 160,817
    Central Garden & Pet Co Sr Note Coupon:5.125% Maturity Date:2028-02-01 78,188 78,188
    Cit Grp Inc Sr Note Coupon:5.000% Maturity Date: 2022-08-15 84,800 84,800
    Citigroup Inc Note Coupon:5.875% Maturity Date: 2042-01-30 83,536 83,536
    Citigroup Inc Sub Note Coupon:4.000% Maturity Date:2024-08-05 126,861 126,861
    Comcast Corp New Sr Note Coupon 4.700% Maturity Date: 2048-10-15 97,800 97,800
    Comcast Corp New Unsecd Note Coupon:4.150% Maturity Date:2028-10-15 146,860 146,860
    Conagra Brands Inc Sr Note Coupon:5.400% Maturity Date:2048-11-01 99,898 99,898
    Csx Corp Note Coupon:3.250% Maturity Date: 2027-06-01 136,764 136,764
    Cvs Health Corp Sr Note Coupon:4.300% Maturity Date:2028-03-25 89,247 89,247
    Cvs Hlth Corp Sr Note Coupon:2.875% Maturity Date:2026-06-01 177,803 177,803
    Diamondback Energy Inc Sr Note Coupon:4.750% Maturity Date:2024-11-01 80,077 80,077
    Dollar Tree Inc Sr Note Coupon:4.200% Maturity Date:2028-05-15 89,263 89,263
    Dowdupont Inc Unsecd Note Coupon:4.205% Maturity Date:2023-11-15 143,421 143,421
    Dte Elec Co Genl & Rfdg Secd Mtg Bond Ser C Coupon:2.625% Maturity Date:2031 83,033 83,033
    Ecolab Inc Note Coupon:2.700% Maturity Date: 2026-11-01 138,740 138,740
    Erp Operating Lp Note Coupon:4.625% Maturity Date:2021-12-15 144,035 144,035
    Exelon Corp Note Coupon:2.450% Maturity Date: 2021-04-15 117,459 117,459
    Fedex Corp Note Coupon:3.250% Maturity Date: 2026-04-01 169,813 169,813
    Genl Motors Finl CO Inc Sr Note Coupon: 5.650% Maturity Date:2029-01-17 149,930 149,930
    Goldman Sachs Group Inc Unsecd Note Fxd/Var Coupon: 3.272% Maturity Date: 20 82,157 82,157
    Intel Corp Sr Note Coupon:2.450% Maturity Date: 2020-07-29 136,915 136,915
    John Deere Cap Corp Medium Term Note Coupon:3.125% Maturity Date:2021-09-10 134,669 134,669
    Jpmorgan Chase & Co Note Var Coupon:0.000% Maturity Date:2023-10-24 107,120 107,120
    Jpmorgan Chase & Co Unsecd Note Fxd/ Var Coupon:2.182% Maturity Date:2028-06 90,226 90,226
    Kinder Morgan Inc Sr Note Coupon:4.300% Maturity Date:2028-03-01 221,652 221,652
    Lazard Llc Sr Note Coupon:3.750% Maturity Date:2025-02-13 83,288 83,288
    Lennar Corp Sr Note Coupon:4.500% Maturity Date:2024-04-30 88,400 88,400
    Lockheed Martin Corp Note Coupon:2.900% Maturity Date:2025-03-01 167,968 167,968
    Lowes Cos Inc Note Coupon:3.875% Maturity Date: 2023-09-15 154,132 154,132
    Magellan Midstream Lp Sr Note Coupon:3.250% Maturity Date:2030-06-01 197,754 197,754
    Mcdonalds Corp Unsecd Medium Term Note Coupon:3.500% Maturity Date:2027-07-0 91,770 91,770
    Morgan Stanley Sub Note Coupon:4.100% Maturity Date:2023-05-22 123,716 123,716
    Netlix inc Sr note coupon:5.875% maturity date:2025-02-15 86,285 86,285
    Nextera Energy Cap Hldgs Inc Gtd Debenture Coupon:3.550% Maturity Date:2027- 134,355 134,355
    Noble Energy Inc Notes Coupon:3.850% Maturity Date:2028-01-15 164,976 164,976
    Northrop Grumman Corp Sr Note Coupon:4.400% Maturity Date:2030-05-01 136,538 136,538
    Novartis Cap Corp Sr Unsecd Note Coupon:2.200% Maturity Date:2030-08-14 134,200 134,200
    Nutrien Ltd Unsecd Sr Note Coupon:4.200% Maturity Date:2029-04-01 211,642 211,642
    Oracle Corp Note Coupon:3.400% Maturity Date: 2024-07-08 160,899 160,899
    Principal Finl Grp Inc Gtd Sr Note Coupon:2.125% Maturity Date:2030-06-15 139,994 139,994
    Qorvo Inc Sr Note Coupon:4.375% Maturity Date:2029-10-15 82,517 82,517
    Realty Income Corp Note Coupon:3.000% Maturity Date:2027-01-15 142,736 142,736
    Republic Svcs Inc Note Coupon:3.375% Maturity Date:2027-11-15 134,951 134,951
    Reynolds Amern Inc Sr Note Coupon:4.850% Maturity Date:2023-09-15 153,911 153,911
    Roper Techs Inc Sr Note Coupon:2.000% Maturity Date:2030-06-30 76,659 76,659
    Schwab Charles Corp New Sr Note Coupon:3.200% Maturity Date:2028-01-25 159,674 159,674
    Seagate Hdd Cayman Sr Note Coupon:4.875% Maturity Date:2027-06-01 84,391 84,391
    Starbucks Corp Sr Note Coupon:3.800% Maturity Date:2025-08-15 138,840 138,840
    Tempur Sealy SR Note Coupon:5.5% Maturity Date:2026-06-15 83,256 83,256
    Tmobile USA inc Sr Note Coupon:4.750% Maturity Date:2028-02-01 75,242 75,242
    Toyota Mtr Cr Corp Medium Term Note Coupon:2.800% 89236TCQ6 Maturity Date:20 154,644 154,644
    United Parcel Service Inc Sr Note Coupon:3.125% Maturity Date:2021-01-15 145,119 145,119
    United Rent Na Inc Sr Note Coupon:5.875% Maturity Date:2026-09-15 79,403 79,403
    Vaneck Vectors Fallen Angel High Yield ETF 286,236 286,236
    Verisign Inc Sr Note Coupon 3.750% Maturity 90,900 90,900
    Verizon Commns Inc Note Coupon:4.150% Maturity 92343VBY9 Date:2024-03-15 118,402 118,402
    Verizon Commns Inc Note Coupon:5.250% Maturity Date:2037-03-16 88,087 88,087
    Walt Disney Co Medium Term Note Coupon:2.300% 25468PDJ2 Maturity Date:2021-0 150,263 150,263
    Wells Fargo & Co Sr Medium Term Sr Note Fxd/ Var Coupon:2.393% Maturity Date 79,847 79,847

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    The Forman S Acton Educational
     
    Foundation Inc
    EIN:
    47-1997891
    Name of Stock End of Year Book Value End of Year Fair Market Value
    A O Smith 38,538 38,538
    Abbott Laboratories 40,402 40,402
    Adobe Inc 200,548 200,548
    Advance Auto Parts Inc 86,158 86,158
    Akamai Technologies Inc 107,825 107,825
    Alcon Inc 128,067 128,067
    Alexion Pharamceuticals Inc 130,304 130,304
    Alibaba Group Holding Ltd Spoons Ads Repst 8 Ord 94,256 94,256
    Amazon.com Inc 670,928 670,928
    Amdocs Ltd 57,453 57,453
    Amgen Inc 154,046 154,046
    Analog Devices Inc 80,808 80,808
    Apple Inc 484,849 484,849
    Aptiv 105,535 105,535
    Asml holding Nv NY registry SHS New 2012 79,011 79,011
    Atlassian Corp Plc Cl A 46,072 46,072
    Berkley W R Corp 57,254 57,254
    Berkshire Hathaway Inc De Cl B New 60,054 60,054
    Biomarin Pharmaceutical Inc 66,732 66,732
    Boeing Company 74,921 74,921
    Booz Allen Hamilton Holding Corp Cl A 52,918 52,918
    Boston Scientific Corp 102,709 102,709
    Bwx Technologies Inc 67,272 67,272
    Chubb Ltd 79,423 79,423
    Comcast Corp Cl A New 216,412 216,412
    Consumer Discretionary Select Sector SPDR ETF ETF 847,311 847,311
    Corteva Inc 47,393 47,393
    Costco Wholesale Corp 134,887 134,887
    Dollar General Corp New 144,686 144,686
    Eaton Corp Plc 90,826 90,826
    Ecolab Corp 95,415 95,415
    Equinix Inc 110,698 110,698
    Estee Lauder Co Inc 68,677 68,677
    Everest Reinsurance Group Ltd 36,050 36,050
    Facebook Inc Cl A 420,940 420,940
    Fidelity National Information Services Inc 171,450 171,450
    First American Financial Corp 84,931 84,931
    Fiserv Inc 55,564 55,564
    Gartner Inc 66,639 66,639
    Glaxosmithkline Plc Sponsored Adr 29,550 29,550
    Global X U S Infrastructure Development ETF 139,774 139,774
    Goldman Sachs Activebeta U S Large Cap Equity ETF 1,050,729 1,050,729
    Grainger W W Inc 135,161 135,161
    Haemonetics Corp Mass 47,738 47,738
    Hasbro Inc 40,971 40,971
    Hexcel Corp New 35,689 35,689
    Home Depot Inc 130,419 130,419
    Host Hotels & Resort Inc 39,662 39,662
    Hudson Pacific Properties inc 30,626 30,626
    Huntsman Corp 67,803 67,803
    ihs Markit Ltd 142,470 142,470
    Invesco Exchange S&P 500 Equal Weight Energy ETF 165,882 165,882
    Invesco Qqq ETF 733,210 733,210
    Ishares 20+ Yr Treasury Bond ETF 77,288 77,288
    Ishares Core Msci Eafe ETF 304,687 304,687
    Ishares Core Msci Emerging Markets ETF 678,283 678,283
    Ishares Core Msci Europe ETF 244,349 244,349
    Ishares Core S&P 500 ETF 77,324 77,324
    Ishares Expanded Tech Software Sector ETF 214,231 214,231
    Ishares Msci All Country Asia Ex Japan ETF 674,584 674,584
    Ishares Msci Eafe Growth ETF 612,019 612,019
    Ishares Msci Eafe Value ETF 116,442 116,442
    Ishares russel 300 etf 495,052 495,052
    Ishares Technology ETF 121,154 121,154
    Ishares U S Financial Services ETF 178,710 178,710
    Ishares U S Medical Devices ETF 119,465 119,465
    Johnson & Johnson 91,753 91,753
    Jpmorgan Betabuilders Japan ETF 129,248 129,248
    Jpmorgan Diversified Return Int; Equity ETF 137,899 137,899
    Kansas City Southern New 59,606 59,606
    Lamar Advertising Company New Cl A 45,355 45,355
    Lowes Inc 148,311 148,311
    M&T Bank Corp 77,271 77,271
    Marathon Petroleum Corp 37,224 37,224
    Marriott Intl Inc New CL A 38,125 38,125
    Medtronic Plc 61,850 61,850
    Microsoft Corp 510,009 510,009
    Mondelez International Inc Cl A 74,608 74,608
    Monster Beverag Corp New 119,854 119,854
    nisource inc 65,356 65,356
    Northrop Grumman Coro 53,935 53,935
    Nutanix Inc Cl A 41,240 41,240
    Nuvasive Inc 47,599 47,599
    Nvidia Corp 170,759 170,759
    NXP Semiconductors 92,703 92,703
    Palo Alto Networks Inc 154,239 154,239
    Paypal Holdings Inc 42,156 42,156
    Pepsico Inc 55,316 55,316
    Pfizer Inc 36,847 36,847
    Pioneer Natural Resources Co 39,406 39,406
    PROCTER & GAMBLE COMPANY 59,552 59,552
    Progressive Corp OH 131,510 131,510
    Prologis Inc 79,030 79,030
    Qualcomm Inc 203,831 203,831
    Raytheon technologies corp 138,515 138,515
    Ross Stores inc 61,651 61,651
    Salesforce.com Inc 202,725 202,725
    Sector Energy Select Sector SPDR ETF 260,335 260,335
    Sector Financial Select Sector SPDR ETF 902,737 902,737
    Sector Healthcare Select Sector SPDR ETF 842,859 842,859
    Sector industrial Select Sector Spdr 870,889 870,889
    Sector Technology Select Sector Spdr 1,068,764 1,068,764
    Select Sector Communication Services Select Sector SPDR ETF 818,262 818,262
    Splunk Inc 141,518 141,518
    Ss&C Technology Holdings Inc 42,195 42,195
    Starbucks Corp 87,617 87,617
    Store Capital Corp 45,533 45,533
    Sysco Corp 38,392 38,392
    Target Corp 105,388 105,388
    Te Connectivity Ltd 100,125 100,125
    Texas Instruments Inc 113,414 113,414
    Texas Pacific land trust sub share CTF proprietary unit 51,617 51,617
    Thermo Fischer Scientific Inc. 214,259 214,259
    Uber Technologis Inc 158,865 158,865
    Ulta Beauty Inc 190,961 190,961
    United Parcel Service Inc Cl B 251,926 251,926
    Unitedhealth Group Inc 345,069 345,069
    Vanguard Ftse All World Ex Us ETF 1,552,551 1,552,551
    Vanguard FTSE Pacific ETF 461,542 461,542
    Vanguard Information Technology ETF 84,202 84,202
    Vanguard Intermediate Term Corp Bond ETF 134,345 134,345
    Vanguard Short Term Corp Bond ETF 356,310 356,310
    Vanguard Total Bond Market ETF 802,088 802,088
    Verizon Communications Inc 69,678 69,678
    Viatris Inc 20,989 20,989
    Visa Inc Cl A 426,742 426,742
    Vmware Inc Cl A 90,047 90,047
    Wal-Mart Stores Inc 81,589 81,589
    Walt Disney Corp 169,766 169,766
    Woodward Inc 51,772 51,772
    Workday inc Cl A 42,890 42,890
    Zimmer Biomet Holdings Inc 60,583 60,583
    Zoetis Inc Cl A 200,752 200,752
    Entergy Corp 69,190 69,190

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    The Forman S Acton Educational
     
    Foundation Inc
    EIN:
    47-1997891
    US Government Securities - End of Year Book Value:

    0
    US Government Securities - End of Year Fair Market Value:

    0
    State & Local Government Securities - End of Year Book Value:


    2,309,992
    State & Local Government Securities - End of Year Fair Market Value:


    2,309,992


    TY 2020 LegalFeesSchedule
    Name:
    The Forman S Acton Educational
     
    Foundation Inc
    EIN:
    47-1997891
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Legal fees 15,903 0   15,903


    TY 2020 OtherExpensesSchedule
    Name:
    The Forman S Acton Educational
     
    Foundation Inc
    EIN:
    47-1997891
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Operations 106,505 5,805   100,700
    Telecommunication 11,050 0   11,050
    Scholarship events 5,485 0   5,485
    Facility rental 24,364 0   24,364
    Program Supplies and Meals 4,478 0   4,478


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    The Forman S Acton Educational
     
    Foundation Inc
    EIN:
    47-1997891
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment fees 207,895 207,895   0
    Website, Social Media, Marketing, Board Strategic Planning 46,122 0   46,122


    TY 2020 TaxesSchedule
    Name:
    The Forman S Acton Educational
     
    Foundation Inc
    EIN:
    47-1997891
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Federal excise tax 38,885 0   0
    Payroll taxes 46,804 1,617   45,141