THE CHALLENGE FOUNDATION INC

EIN: 841480014 501(c)(3) Education

ENGLEWOOD, CO

Total Revenue
$1,612,896
Total Expenses
$1,974,034
Total Assets
$5,434,171
Net Assets
$5,409,650
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
CO
Principal Officer
GENE MYERS
Phone
3032093364
Tax Period
2024-06-01 to 2025-05-31

THE CHALLENGE FOUNDATION INC, founded in 1998, is a community nonprofit in the Education sector that reported $1.6M in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. Expenses of $2.0M exceeded revenue, resulting in a 22% operating deficit.

Mission

THE CHALLENGE FOUNDATION EMPOWERS STUDENTS TO REACH THEIR FULL POTENTIAL THROUGH ACADEMIC SCHOLARSHIPS AND COMPREHENSIVE SUPPORT, BRIDGING THE GAP TO AN EXTRAORDINARY EDUCATION AND LIFELONG SUCCESS.

Program Service Accomplishments

Program 1
Expenses: $285,288

CHALLENGE SUMMER PROGRAM:THE CHALLENGE SUMMER PROGRAM IS HELD AT ST MARY'S ACADEMY FOR APPROXIMATELY SIX WEEKS. STUDENTS ARE RISING 6TH, 7TH, 8TH AND 9TH GRADERS. THE STUDENTS MUST HAVE FINANCIAL...

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CHALLENGE SUMMER PROGRAM:THE CHALLENGE SUMMER PROGRAM IS HELD AT ST MARY'S ACADEMY FOR APPROXIMATELY SIX WEEKS. STUDENTS ARE RISING 6TH, 7TH, 8TH AND 9TH GRADERS. THE STUDENTS MUST HAVE FINANCIAL NEED AND HAVE DEMONSTRATED ACADEMIC SUCCESS. THE SUMMER STAFF CONSISTS OF TEACHERS, CO-TEACHERS AND YEAR ROUND CHALLENGE FOUNDATION STAFF MEMBERS. SUMMER PROGRAM CLASSES ARE LANGUAGE ARTS, MATH AND SCIENCE. ENRICHMENT ACTIVITIES INCLUDE PUBLIC SPEAKING, SWIMMING LESSONS, HIGH ROPES COURSE, DANCE, SPORTS, COLLEGE VISITS, CAREER DAY, FINANCIAL LITERACY AND MUSIC. BREAKFAST, LUNCH AND SNACKS ARE SERVED. TRANSPORTATION IS PROVIDED.

Program 2
Expenses: $993,912

TUTORING, MENTORING AND ADVISING:THE CHALLENGE FOUNDATION MATCHES STUDENTS WITH A VOLUNTEER MENTOR WHO PARTNERS WITH THE FAMILY AND THE STAFF TO PROVIDE ON-GOING SUPPORT, ENCOURAGEMENT AND MEANINGFUL...

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TUTORING, MENTORING AND ADVISING:THE CHALLENGE FOUNDATION MATCHES STUDENTS WITH A VOLUNTEER MENTOR WHO PARTNERS WITH THE FAMILY AND THE STAFF TO PROVIDE ON-GOING SUPPORT, ENCOURAGEMENT AND MEANINGFUL EDUCATIONAL EXPERIENCES. THE MENTOR IS A PROFESSIONAL IN OUR COMMUNITY WHO IS TRAINED TO SERVE AS A ROLE MODEL AND TEAM MEMBER IN THE SCHOLARS' EDUCATIONAL JOURNEY. TUTORING IS OFFERED AND ACCESSED AS NEEDED AT EVERY LEVEL OF THE SCHOLARS' EXPERIENCE, FROM 6TH GRADE THROUGH COLLEGE, INCLUDING ACT/SAT PREP. ALL OF THESE SUPPORTS ARE MANAGED BY A CHALLENGE ADVISOR ON STAFF WHO HELPS STUDENTS OVERCOME OBSTACLES IN THEIR PERSONAL AND ACADEMIC LIVES. ADVISORS ATTEND TEACHER CONFERENCES, OBTAIN COMPUTERS, SCHOOL SUPPLIES, ATHLETIC EQUIPMENT, MUSICAL INSTRUMENTS AND COUNSEL THEM THROUGHOUT THE COLLEGE AND FINANCIAL AID APPLICATION PROCESS.

Program 3
Expenses: $604,255

SCHOLARSHIPS:THE CHALLENGE FOUNDATION PARTNERS WITH COLLEGE PREPARATORY SCHOOLS TO AWARD SCHOLARSHIPS TO QUALIFIED STUDENTS FROM SIXTH THROUGH TWELFTH GRADES. TO BE ELIGIBLE, FAMILIES DEMONSTRATE...

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SCHOLARSHIPS:THE CHALLENGE FOUNDATION PARTNERS WITH COLLEGE PREPARATORY SCHOOLS TO AWARD SCHOLARSHIPS TO QUALIFIED STUDENTS FROM SIXTH THROUGH TWELFTH GRADES. TO BE ELIGIBLE, FAMILIES DEMONSTRATE FINANCIAL NEED AND STUDENTS DEMONSTRATE YEAR-ROUND ACADEMIC SUCCESS AND COMMITMENT. THE PROGRAM WILL IMPACT APPROXIMATELY 160 STUDENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,931,314
Program Service Revenue $0
Investment Income $-350,760
Other Revenue $32,342
TOTAL REVENUE $1,612,896

Expense Breakdown

Grants Paid $604,255
Salaries & Benefits $787,028
Fundraising Expenses $422
Program Expenses $1,883,455
Other Expenses $582,751
TOTAL EXPENSES $1,974,034

Year-over-Year Comparison

2024 2023 Change
Revenue $1,612,896 $1,920,617 -0.2%
Expenses $1,974,034 $1,717,129 +0.1%
Net Income $-361,138 $203,488 -2.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
8
Volunteers
98

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARY ELLEN DALTON BOARD MEMBER 1.00
Director
$0 $0 $0
GENE MYERS PRESIDENT 5.00
Officer Director
$0 $0 $0
ERIN VERNERIS BOARD MEMBER 1.00
Officer Director
$0 $0 $0
JOHN BIRKELBACH BOARD MEMBER 1.00
Director
$0 $0 $0
KARI DAVIS BOARD MEMBER 1.00
Director
$0 $0 $0
LATRICE LEE MCINERNEY BOARD MEMBER 1.00
Director
$0 $0 $0
MARK LIVINGSTON BOARD MEMBER 1.00
Director
$0 $0 $0
ALAN SMILEY BOARD MEMBER 1.00
Director
$0 $0 $0
BEN VALORE-CAPLAN BOARD MEMBER 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $1,612,896 $1,974,034 $5,434,171 $-361,138
2024 $1,920,617 $1,717,129 $5,745,131 $203,488
2023 $5,010,246 $1,642,014 $5,661,885 $3,368,232
2022 $1,824,431 $1,305,278 $2,347,047 $519,153
2021 $1,562,031 $1,333,913 $1,818,797 $228,118
2020 $1,206,371 $1,528,579 $1,660,590 $-322,208
2019 $2,501,506 $1,647,431 $20,093,951 $854,075
2018 $3,447,515 $1,908,648 $20,480,889 $1,538,867
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