Mission
To support start-up charter schools through building facilities which are lease to the school until the school is able to secure financing and purchase the school.
Public Charity
Challenge Foundation Group Inc
Challenge Foundation Group Inc, of Forest City, NC, is a Public Charity tracked in Imperigo's IRS 990 database. The 2025 filing shows $950K in revenue, $2.3M in expenses, $22.0M in total assets. IRS filings disclose 27 grants awarded by this foundation, totaling roughly $3.2M.
EIN: 811808142
Forest City, NC
Management & Technical Assistance
NTEE: B02
Latest filing: 2025
Total Revenue$950K
Total Expenses$2.3M
Total Assets$22.0M
Grants Given27
Grant Total$3.2M
Filing Years2021–2025
Where $100 goes at Challenge Foundation Group Inc
How Challenge Foundation Group Inc divides every $100 it spends, from its own Form 990 filings, averaged across 7 years.
$85
Programs
the work itself
$15
Management
running the organization
$0
Fundraising
none reported
No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.
Inside the $85 for programs
$85
Finance the construction of buildings for startup charter schools in NC then lease the buildings to the schools until they are able to secure financing to purchase the…
Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Before you apply to Challenge Foundation Group Inc
Who to contact, what to include, deadlines, typical grant size and geographic focus are available with membership.
Sample Grants Given
Tutoring
$132,997
Appalachian University
Gen Support
$38,397
Gen Support
$25,000
Gen Support
$25,000
Ethos Academy
Gen Support
$25,000
Showing up to 5 of 27 total records — full history available with membership.
Officers & Directors
Treasurer
Gary Gammon
Member
Jason Cole
Finance Officer
Jennifer Mccluney
Vice-President
Michael Harrington
President/ExecDir
Philip Byers
Member
Tim Smith
Officer compensation and complete director data available with membership.
Top Grant Purposes
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2025 | $950K | $2.3M | $22.0M |
| 2024 | $847K | $2.7M | $22.4M |
| 2023 | $842K | $2.9M | $23.7M |
| 2022 | $749K | $3.5M | $25.4M |
| 2021 | $2.8M | $3.1M | $29.1M |
Between 2021 and 2025, reported annual revenue declined from $2.8M to $950K (-66%), with total assets most recently reported at $22.0M.
Interactive year-over-year charts and full filing details available with membership.
Grant Geography
Grants from this foundation were reported to recipients in AZ, GA, NC.
AZGANC
Full geographic grant map with state-by-state breakdown available with membership.