Nonprofit · EIN 56-6059951
CHALLENGE FUND
Tax-exempt · RICHMOND, VA 23224
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-PF | $876,692 | $290,857 | $585,835 | $4,809,509 | $0 | $4,809,509 |
| December 31, 2024 | 990-PF | $334,058 | $288,983 | $45,075 | $4,223,674 | $0 | $4,223,674 |
| December 31, 2023 | 990-PF | -$66,733 | $294,224 | -$360,957 | $4,178,599 | $0 | $4,178,599 |
Financial details: 990-PF for the year ended December 31, 2025
Revenue
- Dividends
- $107,876
- Net gain from sales of assets
- $768,733
- Other income
- $83
Expenses
- Grants and similar amounts paid
- $255,750
- Compensation of officers, directors and key employees
- $7,240
- Disbursements for charitable purposes
- $267,932
- Excise tax on investment income
- $11,870
Balance sheet and other
- Total assets, start of year
- $4,223,674
- Total assets, end of year
- $4,809,509
- Total liabilities, end of year
- $0
- Net assets, end of year
- $4,809,509
- Fair market value of assets
- $6,056,573
- Qualifying distributions
- $267,932
- Net investment income
- $876,609
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| H SMITH RICHARDSON III C/O BROWN ADVISORY 424 HULL ST, SUITE 301, RICHMOND, VA 23224 | DIRECTOR | 1.5 | $7,240 |
| ANN PAGE RICHARDSON C/O BROWN ADVISORY 424 HULL ST, SUITE 301, RICHMOND, VA 23224 | DIRECTOR | 0.5 | $0 |
| CARY R PAYNTER C/O BROWN ADVISORY 424 HULL ST, SUITE 301, RICHMOND, VA 23224 | DIRECTOR | 0.5 | $0 |
990-PF for the year ended December 31, 2024: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| H SMITH RICHARDSON III C/O BROWN ADVISORY 1235 ENVIRON WAY, CHAPEL HILL, NC 27517 | DIRECTOR | 1.5 | $6,920 |
| ANN PAGE RICHARDSON C/O BROWN ADVISORY 1235 ENVIRON WAY, CHAPEL HILL, NC 27517 | DIRECTOR | 0.5 | $0 |
| CARY R PAYNTER C/O BROWN ADVISORY 1235 ENVIRON WAY, CHAPEL HILL, NC 27517 | DIRECTOR | 0.5 | $0 |
990-PF for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| H SMITH RICHARDSON III C/O BROWN ADVISORY 1235 ENVIRON WAY, CHAPEL HILL, NC 27517 | DIRECTOR | 1.5 | $6,560 |
| ANN PAGE RICHARDSON C/O BROWN ADVISORY 1235 ENVIRON WAY, CHAPEL HILL, NC 27517 | DIRECTOR | 0.5 | $0 |
| CARY R PAYNTER C/O BROWN ADVISORY 1235 ENVIRON WAY, CHAPEL HILL, NC 27517 | DIRECTOR | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- 424 HULL ST STE 301, RICHMOND, VA 23224-4114
- In care of
- % PIEDMONT TRUST CO
- Signed the 990-PF
- H SMITH RICHARDSON III, DIRECTOR
- Phone
- (804) 845-8726
- Return prepared by
- CITRIN COOPERMAN ADVISORS LLC
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990-PF on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 56-6059951
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1964
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $4,809,509
- Income (IRS master file)
- $2,425,765
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2025 | $876,692 | $290,857 | $4,809,509 | IRS |
| 990-PF | December 2024 | $334,058 | $288,983 | $4,223,674 | IRS |
| 990-PF | December 2023 | -$66,733 | $294,224 | $4,178,599 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
| 990-PF | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-6059951).
Questions about CHALLENGE FUND
- What is the EIN of CHALLENGE FUND?
- The employer identification number (EIN) of CHALLENGE FUND is 56-6059951.
- Is CHALLENGE FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1964.
- Are donations to CHALLENGE FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does CHALLENGE FUND file?
- Form 990-PF. Private foundations file every year.
- When is the next return of CHALLENGE FUND due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CHALLENGE FUND last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2025.
- Who are the officers and directors of CHALLENGE FUND?
- The 990-PF for the year ended December 31, 2025 lists 3 people; 1 received compensation from the organization, the highest $7,240 (H SMITH RICHARDSON III, DIRECTOR).
- How much revenue does CHALLENGE FUND have?
- On its 990-PF for the year ended December 31, 2025 it reported revenue of $876,692, expenses of $290,857 and total assets of $4,809,509 at year end.
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