Challenge Center Foundation Inc
- Assets
- $3.8m
- Revenue
- $7.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Superior, WI
- Founding
- 03/1946
- Data as of
- 12/2023
- EIN
- 46-1369226
Organization Overview
Challenge Center Foundation Inc is located in Superior, WI. The organization was established in 1946. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Challenge Center Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Challenge Center Foundation Inc generated $7.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (22.9%) each year. All expenses for the organization totaled $17.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRIMARILY PROVIDE SUPPORT OF CHALLENGE CENTER, INC. PROGRAMS AND SERVICES IN SUPPORT OF THE MISSION AND OPERATIONS THEREOF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHALLENGE CENTER FOUNDATION, INC. WAS CREATED TO PRIMARILY SUPPORT THE ACTIVITIES AND OPERATIONS OF THE CHALLENGE CENTER, INC. A 501(C)(3) ORGANIZATION, WHICH PROVIDES TRAINING IN DAILY LIVING SKILLS, SEMI-INDEPENDENT HOUSING, AND WORK OPPORTUNITIES FOR INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherry Mattson Vice President | OfficerTrustee | 1 | $0 |
Kent Phillips President | OfficerTrustee | 1 | $0 |
Ron Strasburg Secretary/treasurer | OfficerTrustee | 1 | $0 |
William Downs III Board Director | Trustee | 1 | $0 |
Mark Hubbard Board Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $92,025 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$84,804 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,221 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,422 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $143 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $17,565 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,444 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,773,561 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,802,005 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $3,802,005 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,802,005 |
Grants Awarded
Over the last fiscal year, Challenge Center Foundation Inc has awarded $63,588 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
BLACK RIVER INDUSTRIES INC PURPOSE: To support employee retention and recognition across the entire Catholic Charities Bureau organization including affiliates. | $17,575 |
CATHOLIC CHARITIES BUREAU INC PURPOSE: To support employee retention and recognition across the entire Catholic Charities Bureau organization including affiliates. | $7,638 |
CHALLENGE CENTER INC PURPOSE: To support employee retention and recognition across the entire Catholic Charities Bureau organization including affiliates. | $26,600 |
DIVERSIFIED SERVICES CENTER INC PURPOSE: To support employee retention and recognition across the entire Catholic Charities Bureau organization including affiliates. | $5,250 |
HEADWATERS INC PURPOSE: To support employee retention and recognition across the entire Catholic Charities Bureau organization including affiliates. | $6,525 |