Challenge Foundation Group Inc
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.
Challenge Foundation Group Inc at a glance
In short: Challenge Foundation Group Inc gave $321K across 8 grants in 2025 (avg $40K), mostly in North Carolina. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $321,394
- +42.8% vs 2024
- Grants made (2025)
- 8
- -11.1% vs 2024
- Average grant
- $40,174
- +60.7% vs 2024
- Median grant
- $25,000
- Total assets
- $21,959,681
- -2.1% vs 2024
- Primary geography
- North Carolina (84% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Challenge Foundation Group Inc funds
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2025
The largest 2025 recipient was Team NC ($133K). Together the top 8 received $321K.
Grant Size Distribution
26 grants across all recorded years
The most common grant size was under $50K: 17 grants of 26 (65%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 8 itemized grants.
States
Cities
How Challenge Foundation Group Inc gives
- Giving fell 38% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $225K (2024) to $2.2M (2019). In 2025 it made 8 grants totaling $321K.
Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Team NC Forest City, NC | Tutoring | $132,997 |
| Appalachian University Boone, NC | Gen Support | $38,397 |
| 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 |
| Hirsch Academy Decatur, GA | Gen Support | $25,000 |
| Pioneer Preparatory Charlotte, NC | Gen Support | $25,000 |
| Unity Classical Charlotte, NC | Gen Support | $25,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $21,959,681 | $949,707 | $2,287,890 | $321,394 | 8 | $214,285 |
| 2024 | $22,422,455 | $846,793 | $2,739,585 | $225,000 | 9 | $80,495 |
| 2023 | $23,726,858 | $842,174 | $2,918,264 | — | — | $30,780 |
| 2022 | $25,448,270 | $749,090 | $3,488,355 | $514,949 | 9 | $-184,674 |
| 2021 | $29,091,994 | $2,761,233 | $3,050,715 | $641,923 | Total only | $1,919,845 |
| 2020 | $29,620,732 | $2,879,288 | $3,615,727 | $1,187,317 | Total only | $1,389,540 |
| 2019 | $30,356,367 | $34,420,580 | $4,072,482 | $2,164,300 | 1 | $83,533 |
"Total only": grants paid as reported on the IRS filing, which lists no individual grants for that year.
About Challenge Foundation Group Inc
Based on IRS filings
Challenge Foundation Group Inc is a public charity focused on Education, based in Forest City, NC. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $22.0M in total assets. In 2025, it awarded 8 grants totaling $321K. Net investment income was $214K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Challenge Foundation Group Inc is led by Philip Byers, President & Execdir on every filing since 2020; 4 of 8 officers listed in 2025 are compensated.
Officers on the 2025 filing
Philip Byers
President & Execdir
On filings since 2020
40 hrs/week
$209K (2020) → $346K (2025)
Michael Harrington
Vice President
V President → Vice President, 2020
On filings since 2019
40 hrs/week
$179K (2019) → $218K (2025)
Tracy Banker
Secretary
On filings since 2021
40 hrs/week
$210K (2021) → $195K (2025)
Jennifer McCluney
Finance Officer
On filings since 2022
40 hrs/week
$81K (2022) → $76K (2025)
Gary Gammon
Treasurer
On filings since 2019
5 hrs/week
No compensation reported
Tim Smith
Member
Director → Member, 2020
On filings since 2019
2 hrs/week
No compensation reported
Tommy Luckadoo
Member
Director → Member, 2020
On filings since 2019
2 hrs/week
No compensation reported
Jason Cole
Member
On filings since 2024
2 hrs/week
No compensation reported
Former officers (1)
- Former: Charles P Byers (2019) — President & Executive Director
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $346K, to Philip Byers (President/ExecDir). 4 officers or directors reported compensation on that filing.
Frequently asked questions about Challenge Foundation Group Inc
How much does Challenge Foundation Group Inc give each year?
Challenge Foundation Group Inc gave $321K across 8 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $225K across 9 grants.
What is Challenge Foundation Group Inc's typical grant size?
Challenge Foundation Group Inc's median grant in 2025 was $25,000, and its average grant was $40,174, across 8 grants on its 2025 IRS Form 990.
Where does Challenge Foundation Group Inc give grants?
Challenge Foundation Group Inc gives mostly in North Carolina: 84% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The next largest states were Arizona (8%) and Georgia (8%). The most frequent recipient cities were Charlotte, NC (2 grants).
Does Challenge Foundation Group Inc give general operating support?
Not in 2025: none of the 8 grants with a stated purpose on Challenge Foundation Group Inc's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Gen Support" (7 grants).
Who are Challenge Foundation Group Inc's largest grantees?
Challenge Foundation Group Inc's largest 2025 grantees include Team NC ($132,997), Appalachian University ($38,397) and Brevard Academy ($25,000), according to its 2025 IRS Form 990. Together they received 61% of its itemized 2025 grant dollars.
How large is Challenge Foundation Group Inc?
Challenge Foundation Group Inc reported $22.0M in total assets on its 2025 IRS Form 990. Its revenue that year was $950K.
What is Challenge Foundation Group Inc?
Challenge Foundation Group Inc is a public charity focused on Education, based in Forest City, NC. It holds $22.0M in total assets as of 2025.
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 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2022 (received by the IRS April 27, 2023)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 15, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS May 17, 2021)
- Added Form 990 for fiscal year 2025 (received by the IRS May 15, 2026)
- Updated Form 990 for fiscal year 2020 (received by the IRS May 17, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 16, 2022)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Challenge Foundation Group Inc's focus areas in our free grants database
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