Challenge Fund

Organization Overview

Challenge Fund is located in Chapel Hill, NC. The organization was established in 1964. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Challenge Fund 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 12/2022, Challenge Fund generated $62.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.6%) each year. All expenses for the organization totaled $327.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Challenge Fund has awarded 183 individual grants totaling $1,827,018. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

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Board, Officers & Key Employees

Name (title)Compensation
H Smith Richardson III
Director
$6,040
Ann Page Richardson
Director
$0
Cary R Paynter
Director
$0

Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $0
Interest on Savings $1
Dividends & Interest $77,575
Net Rental Income$0
Net Gain on Sale of Assets -$14,778
Capital Gain Net Income $0
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $0
Total Revenue $62,798

Grants Awarded

Over the last fiscal year, Challenge Fund has awarded $289,500 in support to 16 organizations.

Grant RecipientAmount

DIRECT RELIEF

PURPOSE: TO CARRY OUT THE GENERAL TAX EXEMPT PURPOSE OF THE RECIPIENT ORGANIZATION

$25,500

ENVIRONMENTAL DEFENSE CENTER

PURPOSE: TO CARRY OUT THE GENERAL TAX EXEMPT PURPOSE OF THE RECIPIENT ORGANIZATION

$10,000

EQUAL JUSTICE INITIATIVE

PURPOSE: TO CARRY OUT THE GENERAL TAX EXEMPT PURPOSE OF THE RECIPIENT ORGANIZATION

$21,500

CLUB NOVA

PURPOSE: TO CARRY OUT THE GENERAL TAX EXEMPT PURPOSE OF THE RECIPIENT ORGANIZATION

$40,000

FOOD BANK OF CENTRAL & EASTERN NC

PURPOSE: TO CARRY OUT THE GENERAL TAX EXEMPT PURPOSE OF THE RECIPIENT ORGANIZATION

$4,500

FOODBANK OF SANTA BARBARA COUNTY

PURPOSE: TO CARRY OUT THE GENERAL TAX EXEMPT PURPOSE OF THE RECIPIENT ORGANIZATION

$25,500
View Grant Profile

Peer Organizations

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Cleveland, TN
$86,292,288
Joseph B Whitehead Foundation
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$53,119,400
Winshape Foundation Inc
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-$16,199,940
James M Cox Foundation Of Ga Inc
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$129,920,591
Jane Woodruff Foundation Inc
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$54,999,988
A Good Name Foundation Inc
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$32,887,365
Ups Foundation Inc
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$53,465,266
Jack Kent Cooke Foundation
Lansdowne, VA
$46,441,200
O Wayne Rollins Foundation
Atlanta, GA
$21,609,282
Claws Foundation
Reston, VA
$10,612,124
The Murray & Sydell Rosenberg Foundation Inc
Atlanta, GA
$38,164,549
Goizueta Foundation Inc
Atlanta, GA
$23,129,390
We Are Sharing Hope Sc
Charleston, SC
$38,721,175
Smith Richardson Foundation Inc
Greensboro, NC
-$54,374,393
The Leon Levine Foundation
Charlotte, NC
$101,958,051
Edward M Armfield Sr Foundation Inc
Greensboro, NC
$4,850,821
Sall Family Foundation Inc
Cary, NC
$55,481,412
The Duke Energy Foundation
Charlotte, NC
$61,727,547
Maclellan Foundation Inc
Chattanooga, TN
$34,648,038
The Frist Foundation
Nashville, TN
$36,088,932
Z Smith Reynolds Foundation Inc
Winstonsalem, NC
$25,216,380
Endeavour Legacy Foundation
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$661,470,412

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