Challenge Fund
EIN: 566059951 · Chapel Hill, NC
| Metric | Value |
|---|---|
| Total Revenue | $370K |
| Total Expenses | $294K |
| Net Assets | $4.2M |
Is Challenge Fund Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Challenge Fund
Challenge Fund (EIN: 566059951) is a nonprofit organization based in Chapel Hill, NC. The organization reported total revenue of $370K and total assets of $4.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Challenge Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Challenge Fund is a small nonprofit that has been operating for 62 years, with 10 years of IRS 990 filings on record (2011–2023).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -206.3% | -10.2% | -8.0% |
| 2022 | -85.7% | +14.3% | -5.5% |
| 2021 | +314.0% | +4.5% | +3.3% |
| 2020 | -49.6% | +18.5% | -3.5% |
| 2019 | +25.4% | -16.8% | +0.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1964 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Challenge Fund has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Challenge Fund with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Challenge Fund
Is Challenge Fund a legitimate charity?
Challenge Fund (EIN: 566059951) is a registered tax-exempt nonprofit based in North Carolina. It has 10 years of IRS 990 filings on record. Total revenue: $370K. No red flags identified. Financial health grade: B.
How does Challenge Fund spend its money?
Challenge Fund reported $370K in total revenue in IRS 990 filings. 10 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Challenge Fund tax-deductible?
Challenge Fund is registered as a tax-exempt nonprofit (EIN: 566059951). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Challenge Fund located?
Challenge Fund is headquartered in Chapel Hill, North Carolina and files with the IRS under EIN 566059951.
How many years of IRS 990 filings does Challenge Fund have?
Challenge Fund has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $370K in total revenue.
Filing History
IRS 990 filing history for Challenge Fund showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Challenge Fund's revenue has declined by 117%, moving from $392K to $-66,733. Total assets increased by 4.2% over the same period, from $4.0M to $4.2M. Total functional expenses rose by 217.8%, from $93K to $294K. The organization holds $1 in liabilities against $4.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $4.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $-66,733 | $294K | $4.2M | $1 | — | — |
| 2022 | $63K | $327K | $4.5M | $1 | — | View 990 |
| 2021 | $439K | $287K | $4.8M | $1 | — | View 990 |
| 2020 | $106K | $274K | $4.7M | $1 | — | — |
| 2019 | $210K | $231K | $4.8M | $1 | — | View 990 |
| 2015 | $168K | $278K | $4.8M | $1 | — | View 990 |
| 2014 | $367K | $256K | $4.9M | $1 | — | View 990 |
| 2013 | $370K | $223K | $4.5M | $1 | — | View 990 |
| 2012 | $263K | $80K | $4.2M | $1 | — | View 990 |
| 2011 | $392K | $93K | $4.0M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $-66,733, expenses of $294K, and assets of $4.2M (revenue -206.3% year-over-year).
- 2022: Revenue of $63K, expenses of $327K, and assets of $4.5M (revenue -85.7% year-over-year).
- 2021: Revenue of $439K, expenses of $287K, and assets of $4.8M (revenue +314.0% year-over-year).
- 2020: Revenue of $106K, expenses of $274K, and assets of $4.7M (revenue -49.6% year-over-year).
- 2019: Revenue of $210K, expenses of $231K, and assets of $4.8M (revenue +25.4% year-over-year).
- 2015: Revenue of $168K, expenses of $278K, and assets of $4.8M (revenue -54.3% year-over-year).
- 2014: Revenue of $367K, expenses of $256K, and assets of $4.9M (revenue -1.0% year-over-year).
- 2013: Revenue of $370K, expenses of $223K, and assets of $4.5M (revenue +41.1% year-over-year).
- 2012: Revenue of $263K, expenses of $80K, and assets of $4.2M (revenue -33.0% year-over-year).
- 2011: Revenue of $392K, expenses of $93K, and assets of $4.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Challenge Fund:
Data Sources and Methodology
This transparency report for Challenge Fund is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.