Hat Tip to Death by 1000 Papercuts for first reporting this in their article Obama, Bill Ayers, and FactCheck.Org: All Have Ties To Annenberg Foundation

Clarification: The connection between Obama and Ayers is through
the Chicago Annenberg Challenge that received money from the Annenburg
Foundation, but the Chicago Annenburg Challenge Challenge and the
Annenburg Foundation are not directly connected philosophically. The
earmark Senator Obama requested was for the Annenburg Foundation, which
funded the Chicago Annenburg Challenge and also funds FactCheck.org.
Obama is tied to both groups one via earmark, the other via direct
participation, however, Ayers is not directly connected to
FactCheck.org.

Obama Controlling the Facts