Operates schools for preschool through eighth grade, promoting educational objectives.
For fiscal year 2025 it reported $209.9M in revenue, $148.9M in expenses, and $665.9M in net assets.Pt I
Where the money goes · FY2025
Total revenue
$209.9M
Pt VIII · Ln 12
Total expenses
$148.9M
Pt IX · Ln 25
Net assets
$665.9M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $61.0M
Where spending went · Part IX cols B–D
87%
13%
Program services $0.87 Management & general $0.13
Program efficiency
87%
of spending reaches programs▲ +2% vs prior filing year
Operating runway
33.8mo
months of highly liquid reserves at operating expense rate▲ +11% vs prior filing year
Surplus margin
+29%
revenue over expenses, this year▲ +1% vs prior filing year
Summary of the Filing
Part I · fiscal year 2025 · Form 990
Revenue
$209.9M
FY2025▲ +9%
$209.9M$105.0M$0
FY2021FY2025
Expenses
$148.9M
FY2025▲ +9%
$148.9M$74.5M$0
FY2021FY2025
Total assets
$806.5M
FY2025▲ +14%
$806.5M$403.2M$0
FY2021FY2025
Total liabilities
$140.6M
FY2025▲ +27%
$140.6M$70.3M$0
FY2021FY2025
Total revenue
$209.9M
Pt VIII · Ln 12
Total expenses
$148.9M
Pt IX · Ln 25
Net assets
$665.9M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$61.0M
Total assetsPt X · Ln 16$806.5M
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 41
Mission & Programs · Part III
Where the work happens
3 program services account for $128.8M of program spending, described in the organization's own filed words · FY2024.
01
During the 2024-2025 school year, challenger educated approximately 5,179 students in its kindergarten and elementary school programs. On the most recent iowa assessments, challenger's average kindergartener outscored 98 of 100 test takers at HIS/HER grade level, with similar results for students in grades 1 through 5.
$74.0Mprogram expense
02
During the 2024-2025 school year, challenger educated approximately 3,212 students in its 3 and 4 year old preschool programs. Children graduating from challenger's preschool programs are prepared to enter kindergarten with a head start that places them one or two years ahead of their peers.
$35.8Mprogram expense
03
During the 2024-2025 school year, challenger educated approximately 1,059 students in its middle school grades. On the most recent iowa assessments, challenger's average eighth grader outscored 99 of 100 test takers at HIS/HER grade level, with similar results for students in grades 6 and 7.
Hugh Gourgeon’s $444K as President
is at the 30th percentile of top reported officer pay among 674 $100M+ education nonprofits.
Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
Individual Hugh Gourgeon · Reported title PRESIDENT · Highest reported compensation $444K · Total expenses $148.9M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $101.8M · Total expenses $148.9M
68%
Peer comparison
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
Metric
This org
Peer median
Percentile
Program ratio
87%
—
—
Overhead ratio
13%
—
—
Fundraising cost ratio
0%
—
—
Revenue growth
9%
—
—
Legal fee ratio
0%
—
—
Accounting fee ratio
0%
—
—
Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.
Want to add your own materials alongside these filings? Claim this org
Sources
Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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