In 1970, approximately fifty (50) families who lived at the riverside of San Roque and Kalumpang were relocated in Champaca, Parang Marikina. Their relocation made it difficult for the small children who were enrolled at San Roque and Kalumpang Elementary School to continue their studies because these schools were quite far from Champaca. Faced with this situation, the relocated families, who by that time had organizes themselves as “Champaca Neighborhood Association” decided to file a petition for the construction of a school in Champaca I. Through the leadership of Mr. Alberto Lojo, Mrs. Clarissa Padilla and with the support of the then Barangay Captain Noli Cruz, the construction of the school building began. This was done thru “Bayanihan System” where heads of the families rendered free labor during their day-off. The materials used for the construction of the school building were provided by the City Government and Fortune Tobacco Corporation.
On June 27, 1977, with eight determined and persevering teachers, the school, known as Parang Elementary School I, an annex of Parang Elementary School, opened its doors to the public. It offered primary education (Grades I- IV) under the administration and supervision of the principal of Parang Elementary School.
The continued increase in enrolment over the years, prompted the Parent-Teacher Association of the school to file a petition for its separation from Parang Elementary School and to work for the establishment of an independent elementary school. Additional buildings were constructed to pave way for the establishment of a complete elementary school. Fortune Tobacco Corporation and the Federation of the Filipino-Chinese Chamber of Commerce donated school buildings. Due to the massive donation of buildings and unwavering support of FTC, the school’s name was changed to Fortune Elementary School, which was approved on March 15, 1989 under R.A. 6705.
On June 2001, the school was relocated in Santan St. to give way for a street widening project of the City Government. The new buildings were inaugurated last December 11, 2002 and was called “Maria Lourdes Fernando Building”.
The new look of the school revealed good taste and excellence initiated by then principals Lino P. De Guzman, Generosa T. Victorino, Edna S. Constantino, Danilo S. De la Rosa, Emma R. Cruz, Zenaida S. Munar, OIC Dr. Elizalde Q. Cena, Joseph T. Santos, Fevy B. Paraiso, Janet S. Cajuguiran, Leilani N. Villanueva and Leah A. de Leon. Now under the leadership of its new Principal - Annalli B. Salazar, the school continuous to grow and strive for excellence guided by the DepEd Vission and Mission as well as the Core Values “Maka-Diyos, Maka-tao, Makakalikasan and Makabansa