Challenge Fund
CHAPEL HILL, NC EIN: 56-6059951
Financial Overview
From 2024 IRS Form 990-PF
Total Assets
$4.2M
+1.1% YoY
Annual Giving
$255K
-2.9% YoY
Grant Count
18
+63.6% YoY
Avg Grant Size
$14K
-40.7% YoY
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Financial History
Multi-year comparison from IRS filings
Revenue
Expenses
Qualifying Distributions
Net Investment Income
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $4,223,674 | $4,178,599 | $4,539,556 |
| Revenue | $334,058 | $-66,733 | $62,798 |
| Expenses | $288,983 | $294,224 | $327,481 |
| Qualifying Distributions | $266,308 | $273,751 | $289,500 |
| Net Investment Income | $311,383 | $68,082 | $47,464 |
| Distributable Amount | $278,578 | $252,692 | $262,867 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
71 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Who else does Challenge Fund fund?
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Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| H SMITH RICHARDSON III | DIRECTOR | 1.5 | $6,920 |
| ANN PAGE RICHARDSON | DIRECTOR | 0.5 | — |
| CARY R PAYNTER | DIRECTOR | 0.5 | — |
Geographic Focus
Where this funder has awarded grants
Grant Distribution by State
California $562K (43%)
Virginia $260K (20%)
North Carolina $196K (15%)
New York $154K (12%)
Alabama $67K (5%)
Massachusetts $25K (2%)
Maryland $15K (1%)
District of Columbia $10K (1%)
+2 more states
States
Cities
ArlingtonBronxCarrboroCaryChapel HillCharlottesvilleDurhamEugeneFrederickMarshallMontgomeryNew YorkNewportPittsboroRaleighRidgefieldSan FranciscoSanta BarbaraSeattleVint Hill
Data last updated March 2026. Sourced from IRS Form 990-PF filings.
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