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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
H Smith Richardson III Director | 0.5 | $6,040 | |
Ann Page Richardson Director | 0.5 | $0 | |
Cary R Paynter Director | 0.5 | $0 |
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 |
Statement of Expenses | |
---|---|
Compensation of officers, directors, trustees, etc | $6,040 |
Other employee salaries and wages | $0 |
Pension plans, employee benefits | $0 |
Interest | $0 |
Taxes | $9,460 |
Depreciation | $0 |
Occupancy | $0 |
Travel, conferences, and meetings | $0 |
Printing and publications | $0 |
Other expenses | $14,724 |
Total operating and administrative expenses | $37,981 |
Contributions, gifts, grants paid | $289,500 |
Total expenses and disbursements | $327,481 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $122,151 |
Net Accounts receivable | $0 |
Net Pledges Receivable | $0 |
Grants receivable | $0 |
Receivables from Officers, Directors, or Controlling Persons | $0 |
Net other notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Investments - land, buildings, equipment | $0 |
Investments—mortgage loans | $0 |
Investments—other | $0 |
Net Land, buildings, and equipment | $0 |
Other assets | $360 |
Total assets | $4,539,556 |
Accounts payable and accrued expenses | $0 |
Grants payable | $0 |
Deferred revenue | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Mortgages and other notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $0 |
Over the last fiscal year, Challenge Fund has awarded $289,500 in support to 16 organizations.
Grant Recipient | Amount |
---|---|
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 |