Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1999.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
95 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
9 people listed on the 990.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Helps low-income children prepare for and succeed in college.
Questions for Challenge Foundation INC
Your first name shows with your question. Challenge Foundation INC answers here, for everyone.
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Tutoring, Mentoring and Advising
The challenge foundation matches students with a volunteer mentor who partners with the family and the staff to provide on-going support, encouragement and meaningful educational experiences. The mentor is a professional in our community who is trained to serve as a role model and team member in the scholars' educational journey.
Scholarships
The challenge foundation partners with college preparatory schools to award scholarships to qualified students from sixth through twelfth grades. To be eligible, families demonstrate financial need and students demonstrate year-round academic success and commitment. The program will impact approximately 160 students.
Challenge Summer Program
The challenge summer program is held at ST mary's academy for approximately six weeks. Students are rising 6TH, 7TH, 8TH and 9TH graders. The students must have financial need and have demonstrated academic success. The summer staff consists of teachers, co-teachers and year round challenge foundation staff members.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.1M | $1.7M |
| InvestmentsLn 11–13 | $4.6M | $3.7M |
| Land, buildings, equipmentLn 10c | $8K | $5K |
| Total assetsLn 16 | $5.7M | $5.4M |
| LiabilitiesLn 26 | $51K | $25K |
| Net assetsLn 32 | $5.7M | $5.4M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $604K | $604K | ||
| Other salaries and wagesLn 7 | $648K | $648K | ||
| Pension plan contributionsLn 8 | $13K | $13K | ||
| Other employee benefitsLn 9 | $80K | $80K | ||
| Payroll taxesLn 10 | $47K | $47K | ||
| Management feesLn 11a | $56K | $56K | ||
| Legal feesLn 11b | $328 | $328 | ||
| Accounting feesLn 11c | $27K | $2K | $24K | |
| Investment management feesLn 11f | $3K | $3K | ||
| Other fees for servicesLn 11g | $12K | $12K | ||
| Office expensesLn 13 | $25K | $2K | $23K | |
| Information technologyLn 14 | $19K | $19K | ||
| TravelLn 17 | $9K | $2K | $7K | |
| Conferences, conventions and meetingsLn 19 | $7K | $7K | ||
| Depreciation, depletion and amortizationLn 22 | $4K | $4K | ||
| InsuranceLn 23 | $17K | $17K | ||
| Other expenses (24a–d)Ln 24 | $404K | $404K | ||
| All other expensesLn 24e | $422 | $422 | ||
| Total functional expensesLn 25 | $2.0M | $1.9M | $90K | $422 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $1.6M | $2.0M | −$361K | $5.4M | 990 PDF |
| FY2024 | $1.9M | $1.7M | $203K | $5.7M | 990 PDF |
| FY2023 | $5.0M | $1.6M | $3.4M | $5.6M | 990 PDF |
| FY2022 | $1.8M | $1.3M | $519K | $2.3M | 990 PDF |
| FY2021 | $1.6M | $1.3M | $228K | $1.8M | 990 PDF |
| FY2020 | $1.2M | $1.5M | −$322K | $1.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $1,612,896 revenue, 12 lines filed
Part VI · Governance 9 of 9 board members independent, 2 to look at
Part VIII · Statement of revenue $1,612,896 across 7 lines filed
Part IX · Statement of functional expenses $1,974,034 across 18 lines filed
Part X · Balance sheet $5,434,171 assets, 12 lines filed
Part XI · Reconciliation of net assets $5,409,650 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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