Challenge Foundation INC FY2020 filing

Tax-deductible

Englewood, CO501(c)(3)EducationEIN 84-1480014Revenue $1.2M in FY2020

On file with the IRSthechallengefoundation.org4545 S University Blvd, 80113-6059 · Englewood, COTax-exempt since Apr 1999Publicly supported charity — 170(b)(1)(A)(vi)

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To help economically disadvantaged children attain college readiness.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $606K a year · 28% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $666K
Looks good: 10 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$116K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 24 voting members
Looks good: 24 of 24 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
Spent
$1.5M
To programs
95%
Net assets
$1.5M
By yearFY2020–FY2025
Revenue
$1.2M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$1.6M
FY2022$1.8M
FY2023$5.0M
FY2024$1.9M
FY2025$1.6M
Expenses
$1.5M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$1.3M
FY2022$1.3M
FY2023$1.6M
FY2024$1.7M
FY2025$2.0M
Net assets
$1.5M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.5M
FY2021$1.8M
FY2022$2.3M
FY2023$5.6M
FY2024$5.7M
FY2025$5.4M

From the FY2020 Form 990 (year ending May 2020) · figures checked against the IRS filing · see the original

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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.

Program services 95% · $1.5M Management & general 3% · $50K Fundraising 2% · $25K

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

24 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Vice Presidnet
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Memebr
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Challenge Foundation INC executive salaries →

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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 2Yes
  • 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.

Provided by the organization

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3 programs · $1.5M · in their own filed words · FY2019
01

Scholarships

With successful participation in the summer program and year round academic success, students will be eligible for scholarships to a college prep high school and middle school. This insures the mission of the foundation of helping disadvantaged youth achieve academic success and become candidates for college admission.

$776Kprogram expense
02

Tutoring and Mentoring

The program flourished during the school year with once a week tutoring and individual mentoring. Students participated in the summer program and received tutoring throughout the school year at college prep high schools.

$580Kprogram expense
03

Project Challenge

Project challenge was a summer program held at ST. Mary's academy for six weeks. A number of elementary schools were selected as resources for the summer program and were willing participants in taking an active role to identify and recruit students.

$97Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 10 funders →
Grants paid · 44 grants · $3.5M · 2019–2024
Unitemized GrantFY2024$221,027
Unitemized GrantFY2024$152,335
Unitemized GrantFY2024$114,450
Unitemized GrantFY2024$73,101
Unitemized GrantFY2024$34,150
Unitemized GrantFY2024$6,700
Unitemized GrantFY2024$2,492
Unitemized GrantFY2023$121,450
Unitemized GrantFY2023$120,134
Unitemized GrantFY2023$64,962
Unitemized GrantFY2023$44,174
Unitemized GrantFY2023$27,692
Unitemized GrantFY2023$21,523
Unitemized GrantFY2023$1,253
Unitemized GrantFY2022$148,095
Unitemized GrantFY2022$120,050
Unitemized GrantFY2022$85,346
Unitemized GrantFY2022$54,938
See all 44 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$1.2M
Investment incomeLn 3$17K
Money outPt IX
$1.5M
Ln 25
Programscol B$1.5M
Managementcol C$50K
Fundraisingcol D$25K
Owns and owesPt X
$1.5M
net assets · Ln 32
Cash and savingsLn 1–2$462K
Total assetsLn 16$1.7M
LiabilitiesLn 26$116K
PeoplePt VI, VII
24
listed · VII A
PaidVII A0
Voting boardVI 1a24
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Noncash giftsLn 1g$5K
Investment incomeLn 3$17K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$462K
Cash and savings togetherLn 1–2$462K
InvestmentsLn 11–13$705K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$446K
Total assetsLn 16$1.7M
LiabilitiesLn 26$116K
Net assetsLn 32$1.5M
OperationsPt I, VI
EmployeesI 59
VolunteersI 6140
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$167K$462K
InvestmentsLn 11–13$15.3M$705K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$20.1M$1.7M
LiabilitiesLn 26$43K$116K
Net assetsLn 32$20.1M$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$776K$776K
Other salaries and wagesLn 7$320K$320K
Other employee benefitsLn 9$30K$30K
Payroll taxesLn 10$24K$24K
Accounting feesLn 11c$21K$21K
Office expensesLn 13$7K$7K
Information technologyLn 14$5K$5K
TravelLn 17$40K$38K$2K
Conferences, conventions and meetingsLn 19$827$827
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$226K$201K$25K
All other expensesLn 24e$64K$51K$13K
Total functional expensesLn 25$1.5M$1.5M$50K$25K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $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 Viewing $1.2M$1.5M−$322K$1.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $1,206,371 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,872,702$1,188,922
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $628,804$17,449
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,501,506$1,206,371
I-13 Grants and similar amounts paidPrior year $856,680$776,377
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $365,805$373,871
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $424,946$378,331
I-18 Total expensesPrior year $1,647,431$1,528,579
I-19 Revenue less expensesPrior year $854,075−$322,208
Part VI · Governance 24 of 24 board members independent, 3 to look at
VI-1a Voting members of the governing body24
VI-1b Independent voting members24
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,206,371 across 5 lines filed
VIII-1f All other contributions, gifts and grants$1,188,922
VIII-1g Noncash contributions (included above)$5,249
VIII-1h Total contributions, gifts and grants$1,188,922
VIII-3 Investment incomeExcluded from tax $17,449$17,449
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $17,449$1,206,371
Part IX · Statement of functional expenses $1,528,579 across 12 lines filed
IX-2 Grants to domestic individualsPrograms $776,377$776,377
IX-7 Other salaries and wagesPrograms $320,325$320,325
IX-9 Other employee benefitsPrograms $29,660$29,660
IX-10 Payroll taxesPrograms $23,886$23,886
IX-11c Accounting feesManagement $20,784$20,784
IX-13 Office expensesPrograms $7,220$7,220
IX-14 Information technologyPrograms $5,258$5,258
IX-17 TravelPrograms $38,221 · Management $2,063$40,284
IX-19 Conferences, conventions and meetingsPrograms $827$827
IX-23 InsuranceManagement $13,750$13,750
IX-24 Other expenses (24a–d)Programs $201,033 · Fundraising $25,180$226,213
IX-24e All other expensesPrograms $50,541 · Management $13,454$63,995
IX-25 Total functional expensesPrograms $1,453,348 · Management $50,051 · Fundraising $25,180$1,528,579
Part X · Balance sheet $1,660,590 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $166,794$461,993
X-9 Prepaid expenses and deferred chargesStart of year $35,606$48,191
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $15,273,726$704,860
X-15 Other assetsStart of year $266,763$445,546
X-16 Total assetsStart of year $20,093,951$1,660,590
X-17 Accounts payable and accrued expensesStart of year $43,234$116,091
X-26 Total liabilitiesStart of year $43,234$116,091
X-27 Net assets without donor restrictionsStart of year $16,893,429$19,345,857
X-28 Net assets with donor restrictionsStart of year $3,157,288$704,860
X-32 Total net assets or fund balancesStart of year $20,050,717$1,544,499
X-33 Total liabilities and net assetsStart of year $20,093,951$1,660,590
Part XI · Reconciliation of net assets $1,544,499 net assets at year end
XI-1 Total revenue$1,206,371
XI-2 Total expenses$1,528,579
XI-3 Revenue less expenses−$322,208
XI-4 Net assets at start of year$20,050,717
XI-5 Net unrealized gains (losses) on investments−$825
XI-9 Other changes in net assets−$18,183,185
XI-10 Net assets at end of year$1,544,499

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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