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
93 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
10 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
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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.
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.
Challenge Summer Program
The challenge summer program is held at ST maryu'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 FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.3M | $495K |
| InvestmentsLn 11–13 | $1.0M | $5.1M |
| Land, buildings, equipmentLn 10c | $15K | $12K |
| Total assetsLn 16 | $2.3M | $5.7M |
| LiabilitiesLn 26 | $55K | $68K |
| Net assetsLn 32 | $2.3M | $5.6M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $480K | $480K | ||
| Other salaries and wagesLn 7 | $588K | $588K | ||
| Pension plan contributionsLn 8 | $14K | $14K | ||
| Other employee benefitsLn 9 | $58K | $58K | ||
| Payroll taxesLn 10 | $44K | $44K | ||
| Management feesLn 11a | $21K | $21K | ||
| Accounting feesLn 11c | $18K | $18K | ||
| Office expensesLn 13 | $53K | $34K | $18K | |
| Information technologyLn 14 | $760 | $760 | ||
| TravelLn 17 | $18K | $18K | ||
| Depreciation, depletion and amortizationLn 22 | $4K | $4K | ||
| InsuranceLn 23 | $16K | $16K | ||
| Other expenses (24a–d)Ln 24 | $330K | $285K | $44K | |
| Total functional expensesLn 25 | $1.6M | $1.5M | $77K | $44K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $1.6M | $2.0M | −$361K | $5.4M | 990 PDF |
| FY2024 | $1.9M | $1.7M | $203K | $5.7M | 990 PDF |
| FY2023 Viewing | $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 FY2023 990 (6 parts)
Part I · Summary $5,010,246 revenue, 12 lines filed
Part VI · Governance 10 of 10 board members independent, 2 to look at
Part VIII · Statement of revenue $5,010,246 across 5 lines filed
Part IX · Statement of functional expenses $1,642,014 across 13 lines filed
Part X · Balance sheet $5,661,885 assets, 14 lines filed
Part XI · Reconciliation of net assets $5,593,450 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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