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Nonprofiteer
← CHALLENGE FOUNDATION INC

Form 990 for tax year 2022

Filed by CHALLENGE FOUNDATION INC.

Totals

Total revenue
$5,010,246
Total expenses
$1,642,014
Contributions and grants received
$5,006,329
Grants paid
$479,788
Program service revenue
$0
Investment income
$3,917
Other revenue
$0
Total assets, end of year
$5,661,885
Total liabilities, end of year
$68,435
Net assets or fund balances, end of year
$5,593,450
Program services expenses (Part IX)
$1,520,767
Management and general expenses
$76,779
Fundraising expenses
$44,468
Program service expenses (Part III)
$1,520,767

Program services were 92.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $3,296,230

  • 1f · All other contributions, gifts and grants

    $1,710,099

  • 3 · Investment income

    total $3,917 · excluded $3,917

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $479,788 · program services $479,788

  • 7 · Other salaries and wages

    total $587,588 · program services $587,588

  • 8 · Pension plan contributions

    total $13,757 · program services $13,757

  • 9 · Other employee benefits

    total $57,733 · program services $57,733

  • 10 · Payroll taxes

    total $44,129 · program services $44,129

  • 11a · Fees: management

    total $20,805 · management and general $20,805

  • 11c · Fees: accounting

    total $18,366 · management and general $18,366

  • 13 · Office expenses

    total $52,552 · program services $34,057 · management and general $18,495

  • 14 · Information technology

    total $760 · program services $760

  • 17 · Travel

    total $17,601 · program services $17,601

  • 22 · Depreciation, depletion and amortization

    total $3,533 · management and general $3,533

  • 23 · Insurance

    total $15,580 · management and general $15,580

  • 24a · Other expenses: SUMMER PROGRAM/CHILD CA

    total $292,748 · program services $248,280 · fundraising $44,468

  • 24b · Other expenses: FAMILY SUPPORT

    total $16,871 · program services $16,871

  • 24c · Other expenses: STUDENT SUPPORT

    total $15,893 · program services $15,893

  • 24d · Other expenses: RECRUITMENT/MENTOR EXPE

    total $4,310 · program services $4,310

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,302,800 · end of year $494,734

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,250 · end of year $3,609

  • 10a · Land, buildings and equipment: cost or other basis

    $57,580

  • 10b · Land, buildings and equipment: accumulated depreciation

    $45,656

  • 10c · Land, buildings and equipment, net

    beginning of year $15,457 · end of year $11,924

  • 11 · Investments: publicly traded securities

    beginning of year $250,751 · end of year $1,088,546

  • 12 · Investments: other securities

    beginning of year $750,000 · end of year $4,042,040

  • 15 · Other assets

    beginning of year $9,789 · end of year $21,032

  • 17 · Accounts payable and accrued expenses

    beginning of year $48,422 · end of year $68,435

  • 25 · Other liabilities

    beginning of year $6,855 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,291,019 · end of year $1,573,941

  • 28 · Net assets with donor restrictions

    beginning of year $1,000,751 · end of year $4,019,509

Mission and programs · 2022

Mission

THE CHALLENGE FOUNDATION WAS FOUNDED TO HELP ECONOMICALLY DISADVANTAGED CHILDREN ATTAIN COLLEGE READINESS AND GRADUATION THROUGH EDUCATIONAL OPPORTUNITIES AND HOLISTIC SUPPORT FROM GRADES SIX THROUGH TWELVE, FOLLOWED BY CONTINUED SUPPORT DURING THE COLLEGE YEARS.

Activities or mission (Part I)

TO HELP ECONOMICALLY DISADVANTAGED CHILDREN ATTAIN COLLEGE READINESS.

  • 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. SUMMER PROGRAM CLASSES ARE LANGUAGE ARTS, MATH AND SCIENCE. ENRICHMENT ACTIVITIES INCLUDE PUBLIC SPEAKING, SCUBA DIVING, SWIMMING LESSONS, HIGH ROPES COURSE, RAFTING, HORSEBACK RIDING, DANCE, SPORTS AND MUSIC. BREAKFAST, LUNCH AND SNACKS ARE SERVED. TRANSPORTATION IS PROVIDED.

    Expenses $275,655

  • 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. INTERESTED MEN AND WOMEN FROM THE PROFESSIONAL AND BUSINESS COMMUNITY SERVED AS MENTORS TO THE INDIVIDUAL STUDENTS THROUGHOUT THE YEAR. THEY PROVIDED ENCOURAGEMENT AND ENRICHMENT TO THE STUDENTS IN THEIR ACADEMIC AND SOCIAL SKILLS.

    Expenses $765,324

  • 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. THE CHALLENGE FOUNDATION WILL IMPACT APPROXIMATELY 69 MIDDLE SCHOOL AND HIGH SCHOOL STUDENTS OPERATING ON AN ANNUAL BUDGET OF APPROXIMATELY $1,500,000 PER YEAR. ITS UNIQUE MISSION IS TO FOLLOW THE SELECTED CHILDREN FROM SIXTH GRADE THROUGH COLLEGE.

    Expenses $479,788 · Grants $479,788

As filed on the 2022 return.

Listed in Part VII

  • Mary Ellen Dalton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gene Myers

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Erin Verneris

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Michael Brown

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • John Birkelbach

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kari Davis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Latrice Lee

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Livingston

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Alan Smiley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ben Valore-Caplan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
14 February 2024
IRS schema version
2022v5.0
Source object
202440549349300314

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