2025
Annual Report
A LETTER
FROM OUR
PRESIDENT
The year 2025 was one of both unexpected transition and meaningful growth for our Foundation. While we faced the significant challenge of losing our physical office space, this moment became an opportunity to reimagine how we work, collaborate and serve. By successfully transitioning to a fully remote operation, we not only maintained continuity in our programs — we strengthened them. Our team demonstrated resilience, adaptability and an unwavering commitment to our mission, ensuring that the Scholars, families and community we serve continued to receive consistent, high-quality support.
This year reaffirmed a truth we hold deeply: Our impact is not defined by a building but by our dedication to people.
Operating remotely has allowed us to work more efficiently, expand our reach and focus our resources where they matter most — directly into programs that advance opportunity, education and long-term success for the young people of
our community.
In 2025, we saw measurable growth across our initiatives, from increased Scholar engagement to strengthened partnerships, increased community grants and expanded program outcomes. Each success reflects the collective effort of our Board, staff, the school district and community partners who believe, as we do, that sustained investment in young people transforms futures and strengthens entire communities.
This year also held special significance as we joined in recognizing the 350th anniversary of Salem City — a milestone that highlights the deep history, resilience and enduring spirit of the community we proudly serve. Salem’s legacy is one of perseverance and renewal, and our Foundation’s work is rooted in that same spirit. We are honored to contribute to the city’s future by supporting its young people, empowering families, and helping build pathways to education and opportunity that will shape the next generation of Salem’s story.
As we look ahead, our commitment to Salem City remains stronger than ever. We will continue to deepen our impact, strengthen our programs and pursue innovative ways to support Scholars and families — whether working remotely or in new spaces that support our mission. The challenges of this year only sharpened our focus and reinforced our purpose.
Thank you for standing with us through change, growth and continued progress. Your partnership makes this work possible, and together, we are building a future defined not by obstacles but by opportunity.
With gratitude and determination,
Kortney Swanson Davis, Esq.
President and Chief Executive Officer
THE YEAR IN REVIEW
Tracking Growth
In 2025, we contributed $435,400 to students’ Acorn Fund accounts, advancing our core purpose: unlocking the possibilities of higher education for all Salem students.
CUMULATIVE NUMBER OF ACORN FUND ACCOUNTS ESTABLISHED
115
NEW ACCOUNTS IN 2025
CUMULATIVE NUMBER OF FORMAN SCHOLARS
1,697
NEW SCHOLARS IN 2025
WE’RE ON INSTAGRAM
Follow along to keep up with the latest news, hear from our outstanding Scholars, and learn more about our programs and our support for the students of Salem.
Number of colleges attended by Acorn Scholars
35
$21,594.18
Total amount distributed from the Foundation’s College Retention Fund
$4,098,022
Total grant amount from Foundation to fund Acorn Fund accounts
This year, we maintained two additional supports for Acorn Scholars:
Through our College Deposit Program, we funded 35 deposits for Acorn Scholars beginning their first semester of college to further decrease the financial burden of higher education – an additional, cumulative contribution totaling $9,180.
THE ACORN FUND
UNLOCKING THE POSSIBILITY OF HIGHER EDUCATION FOR SALEM STUDENTS
In 2025, we maintained our support of Salem students by making an annual contribution to 1,440 Acorn Fund accounts, while also establishing 115 new accounts.
Open to all children living in or attending school in Salem City, our Acorn Fund program creates and invests in college savings accounts at no cost to students. Upon graduating from high school, these students – which we call Acorn Scholars – are eligible to withdraw funds from their account to cover the cost of higher education expenses, such as tuition, fees, room and board.
Our Foundation is currently one of the only organizations in the nation to establish, invest in and manage a college savings account for every child in a given community from their birth through high school graduation.
In 2025
Number of college students who requested an Acorn Fund distribution
$270,401.75
Total amount distributed on behalf
of Acorn Scholars
Since 2014
Total number of Acorn Fund accounts established
66
1,697
We distributed 27 Graduation Bonus Awards of
$500 to eligible Acorn Scholars in celebration on their high school graduation – an additional, cumulative contribution totaling $13,500.
THE FORMAN SCHOLARS PROGRAM
EMPOWERING THE NEXT GENERATION OF SALEM’S LEADERS
The Forman Scholars Program, our signature scholarship initiative, is a testament to the generous philanthropy and visionary leadership of our organization’s namesake, Dr. Forman S. Acton.
Dr. Acton understood firsthand the transformative power of education and dedicated his significant wealth to future generations of Salem students, so they, too, could benefit from higher education. In his memory, we annually select a cohort of Forman Scholars, ensuring Dr. Acton’s legacy lives on through these high-achieving students.
In 2025, we welcomed 11 Forman Scholars, who each received a cumulative scholarship totaling $50,000 for use toward their undergraduate and/or graduate studies. In addition to the financial award, Forman Scholars are introduced to mentorship and networking opportunities that inspire academic, personal and professional growth.
In addition, we welcomed a class of Rising Forman Scholars consisting of 10 students in their junior year of high school. Beginning with the 2026 application cycle, only juniors will be eligible to apply for the Forman Scholars program. Students selected as Rising Forman Scholars in their junior year of high school must maintain their eligibility between their junior and senior years to transition to Forman Scholars upon their high school graduation.
As always, to be eligible for selection in the program, students must be residents of Salem City or attend school in Salem City, as well as be enrolled in the Acorn Fund program. Our Scholarship Committee considers an array of factors, including students’ financial need and academic performance, when making its selections. Through this comprehensive evaluation process, we aim to support well-rounded individuals who will continue to contribute to society long after their educational journey has concluded.
In 2025
Average GPA of Forman Scholars
Number of Forman Scholars currently in college
3.24
12
Number of states where Forman Scholars are currently attending college
SINCE 2014
55
Number of Forman Scholar college graduates
50
58
Number of colleges & universities attended
Total amount awarded
$3,375,061.23
OUR GROWING IMPACT
Forman Scholars are currently attending the following schools:
Alabama
Tuskegee University
Delaware
University of Delaware
District of Columbia
Georgetown University
Florida
Embry-Riddle Aeronautical University
Georgia
Spelman College
Maryland
Coppin State University
Frostburg State University
Morgan State University
Massachusetts
Stonehill College
New Jersey
Kean University
Rowan University
Rutgers University-New Brunswick
Salem Community College
Stockton University
The College of New Jersey
New York
Hobart and William Smith Colleges
Rochester Institute of Technology
Vassar College
Pennsylvania
Cedar Crest College
Commonwealth University-Bloomsburg
Elizabethtown College
Franklin & Marshall College
Haverford College
Lehigh University
Lincoln University
Swarthmore College
Thomas Jefferson University
University of Pittsburgh
Widener University
South Carolina
University of South Carolina
Virginia
Washington and Lee University
Acorn Scholars are currently attending the following schools:
Alabama
Tuskegee University
Delaware
Delaware State University
Delaware Technical Community College
Goldey-Beacom College
Wilmington University
Maryland
Stevenson University
University of Maryland Eastern Shore
Massachusetts
Boston Architectural College
New Jersey
Atlantic Cape Community College
Camden County College
Fairleigh Dickinson University
Rowan College of South Jersey
Rowan University
Salem Community College
Stockton University
Pennsylvania
Eastern University
Immaculata University
Lincoln University
Pennsylvania State University
Thomas Jefferson University
Virginia
Liberty University
Wisconsin
University of Wisconsin-Madison
GRANTS
MULTIPLYING THE IMPACT OF COMMUNITY PROGRAMS
In 2025, we distributed $306,500 in grants to those who are driving impact and inspiration in our community. Our support extended to the following programs:
Chart the Course: Reading Literacy Lab at Salem Middle School
An academic-enrichment initiative designed for students in grades 3-8 who are performing below grade level. The program is designed to help young people discover their purpose, blending foundational literacy instruction with mentorship and culturally responsive engagement. Students receive small-group instruction, individualized learning plans and hands-on learning experiences in reading.
Dual-Enrollment Program at Salem Community College
Expanded to serve students at both Salem High School and Salem County Career & Technical High School.
The Self-Made Youth Girl’s Group at P3 Alliance
A 10-lesson empowerment course designed to educate, uplift and equip young girls with vital life tools. Over the course of 10 structured lessons, girls explored essential themes such as etiquette, mental health, career preparation, conflict resolution and more. Through open discussion, reflection, engaging activities and guest mentorship, the girls grew in confidence, character and sisterhood.
Gateway Community Action Partnership
Supported a college tour for students at Salem High School.
One Village Alliance
Supported a full-day summer program for Salem City youth that promoted literacy.
STEAM Academy at Rowan University
Dedicated to educating and empowering high-achieving students through a dynamic summer program. The STEAM Academy creates diverse pathways to higher education, accommodating students with varied abilities, interests and backgrounds. It is committed to delivering purposeful and engaging educational experiences while valuing and embracing the unique perspectives of all participants.
DOWNLOAD THE 2025 ANNUAL REPORT
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