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.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$22.4M
-5.5% YoY
Annual Giving
$225K
Grant Count
9
Avg Grant Size
$25K
About Challenge Foundation Group Inc
Based on IRS filings
Challenge Foundation Group Inc is a nonprofit organization focused on Education, based in FOREST CITY, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $22.4M in total assets. In 2024, it awarded 9 grants totaling $225K. Net investment income was $80K.
Focus Areas
Ready to take the next step with Challenge Foundation Group Inc?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $22,422,455 | $23,726,858 | $25,448,270 |
| Revenue | $846,793 | $842,174 | $749,090 |
| Expenses | $2,739,585 | $2,918,264 | $3,488,355 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $80,495 | $30,780 | $-184,674 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 9 recipients in 2024
Grant Size Distribution
18 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Veritas Community ($25,000), Brevard Academy ($25,000), Davidson Charter Acad ($25,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Veritas Community Charlotte, NC | Gen Support | $25,000 |
| Brevard Academy Pisgah Forest, NC | Gen Support | $25,000 |
| Davidson Charter Acad Lexington, NC | Gen Support | $25,000 |
| Ethos Academy Glendale, AZ | Gen Support | $25,000 |
| Excelsior Classical Durham, NC | Gen Support | $25,000 |
| Hirsch Academy Decatur, GA | Gen Support | $25,000 |
| Pioneer Preparatory Charlotte, NC | Gen Support | $25,000 |
| Thomas Jefferson Mooresboro, NC | Gen Support | $25,000 |
| Unity Classical Charlotte, NC | Gen Support | $25,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Philip Byers | President/ExecDir | 40 | $160,200 |
| Michael Harrington | Vice-President | 40 | $160,200 |
| Gary Gammon | Treasurer | 5 | — |
| Tommy Luckadoo | Member | 2 | — |
| Tim Smith | Member | 2 | — |
| Tracy Banker | Secretary | 40 | $160,200 |
| Jennifer McCluney | Finance Officer | 40 | $74,917 |
| Jason Cole | Member | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Challenge Foundation Group Inc?
Challenge Foundation Group Inc is a nonprofit organization focused on Education, based in FOREST CITY, NC. It holds $22.4M in total assets as of 2024.
How large is Challenge Foundation Group Inc?
As of 2024, Challenge Foundation Group Inc holds $22.4M in total assets with $847K in annual revenue. It awarded 9 grants totaling $225K in 2024.
Where does Challenge Foundation Group Inc operate?
Challenge Foundation Group Inc has awarded grants in Arizona, Georgia, North Carolina.
What size grants does Challenge Foundation Group Inc award?
In 2024, Challenge Foundation Group Inc awarded 9 grants totaling $225K — an average of about $25K per grant, based on its IRS Form 990 filings.
What is Challenge Foundation Group Inc's EIN?
Challenge Foundation Group Inc's EIN (Employer Identification Number) is 81-1808142. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Challenge Foundation Group Inc's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
The Hillbrook Gkp Iii Foundation Inc
GREENSBORO, NC
Assets
$32K
Grants
1
Total Given
$2K
Rotary Club of Salisbury Charities
SALISBURY, NC
Assets
$39K
Grants
1
Total Given
$50K
Ihope Foundation
GREENSBORO, NC
Assets
$10K
Grants
1
Total Given
$20K
Flow Foundation Inc
WINSTONSALEM, NC
Assets
$395K
Grants
53
Total Given
$1.5M
Orange County Partnership for Young
HILLSBOROUGH, NC
Assets
$477K
Grants
18
Total Given
$2.1M
North Carolina Baptist Hospital
WINSTONSALEM, NC
Assets
$2.8B
Grants
17
Total Given
$634K
Data last updated April 2026. Sourced from IRS Form 990-PF filings.
What could you do with Challenge Foundation Group Inc on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching Challenge Foundation Group Inc to a real strategy.