Civic Intelligence

Charter Oak Challenge Foundation Inc.

990 • Fiscal year 2016 • EIN 06-1620722

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 25, 2017

575 Riverside Avenue Suite 202AWestport, CT 06880

(203) 226-2307

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

49th percentile

2.5%

Higher net margin than 49% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

49th percentile

1.0%

Faster asset growth than 49% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

15th percentile

-34%

Faster revenue growth than 15% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Up

$394,724

Up $3,751 (+1.0%) from 2015

Net Assets

Up

$394,724

Up $3,751 (+1.0%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue

Down

$150,398

Down $77,950 (-34%) from 2015

Expenses

Down

$146,647

Down $73,765 (-33%) from 2015

Net Income

Down

$3,751

Down $4,185 (-53%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0Assets 2010: $629,038Liabilities 2010: $0Net Assets 2010: $629,0382010Assets 2011: $714,122Liabilities 2011: $0Net Assets 2011: $714,1222011Assets 2012: $641,169Liabilities 2012: $0Net Assets 2012: $641,1692012Assets 2013: $512,859Liabilities 2013: $0Net Assets 2013: $512,8592013Assets 2014: $383,037Liabilities 2014: $0Net Assets 2014: $383,0372014Assets 2015: $390,973Liabilities 2015: $0Net Assets 2015: $390,9732015Assets 2016: $394,724Liabilities 2016: $0Net Assets 2016: $394,7242016Assets 2017: $464,532Liabilities 2017: $0Net Assets 2017: $464,5322017Assets 2018: $356,265Liabilities 2018: $0Net Assets 2018: $356,2652018Assets 2019: $314,517Liabilities 2019: $0Net Assets 2019: $314,5172019Assets 2020: $390,083Liabilities 2020: $0Net Assets 2020: $390,0832020Assets 2021: $401,162Liabilities 2021: $0Net Assets 2021: $401,1622021Assets 2022: $415,089Liabilities 2022: $0Net Assets 2022: $415,0892022Assets 2023: $406,829Liabilities 2023: $0Net Assets 2023: $406,8292023Assets 2024: $215,469Liabilities 2024: $0Net Assets 2024: $215,4692024

Highlighted filing

2016

Assets$394,724
Liabilities$0
Net Assets$394,724

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KExpenses 2010: $425,6222010Expenses 2011: $370,2842011Expenses 2012: $382,3982012Revenue 2013: $217,644Expenses 2013: $345,954Net Income 2013: -$128,3102013Revenue 2014: $298,290Expenses 2014: $428,112Net Income 2014: -$129,8222014Revenue 2015: $228,348Expenses 2015: $220,412Net Income 2015: $7,9362015Revenue 2016: $150,398Expenses 2016: $146,647Net Income 2016: $3,7512016Revenue 2017: $133,757Expenses 2017: $68,949Net Income 2017: $64,8082017Revenue 2018: $129,010Expenses 2018: $237,277Net Income 2018: -$108,2672018Revenue 2019: $100,743Expenses 2019: $142,491Net Income 2019: -$41,7482019Revenue 2020: $105,831Expenses 2020: $30,265Net Income 2020: $75,5662020Revenue 2021: $58,404Expenses 2021: $47,325Net Income 2021: $11,0792021Revenue 2022: $15,571Expenses 2022: $1,644Net Income 2022: $13,9272022Revenue 2023: $4,447Expenses 2023: $12,707Net Income 2023: -$8,2602023Revenue 2024: $39,124Expenses 2024: $230,484Net Income 2024: -$191,3602024

Highlighted filing

2016

Revenue$150,398
Expenses$146,647
Net Income$3,751
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 25, 2017
Return Version
2016v3.0
Gross Receipts
$212,103
Mission and Program Overview

Mission

The Foundation is dedicated to building better futures for disadvantaged children and their families in the Greater Bridgeport, CT area.

Charter Oak Challenge Foundation funds programs that reduce poverty in greater Bridgeport. We seek lasting results by helping children and families and teaching them to help others along the way.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$390,973$394,724▲ $3,751
Savings and Temporary Cash Investments$212,228$276,125▲ $63,897
Cash and Non-Interest-Bearing Accounts$149,001$118,599▼ $30,402
Investments in Publicly Traded Securities$29,744$0▼ $29,744
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$390,973$394,724▲ $3,751
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$390,973$394,724▲ $3,751
Total Liabilities and Net Assets / Fund Balance$390,973$394,724▲ $3,751
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dick KaltDirector
Pearl KaneDirector
Andrew BoasPres/Treasurer
Carol BoasSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$147,576
Program Service Revenue
$0
Investment Income
$2,822
Other Revenue
$0
All Other Contributions
$147,576
Change in Net Assets
$3,751

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$31,961Val date recd
Total Noncash Contributions1$31,961-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$125,600
Other Expenses$21,047
Total Fundraising Expense$17,326
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$115,000--$115,000
Conferences and Meetings--$17,326$17,326
Grants to Domestic Individuals$10,600--$10,600
Fees for Services Accounting-$1,500-$1,500
Office Expenses-$815-$815
Fees for Services Other-$806-$806
Insurance-$600-$600
Total Functional Expenses$125,600$3,721$17,326$146,647
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Achievement First IncNew Haven, CT501(c)(3)Achievement First Bridgeport$45,000
Teach For America-CTNew Haven, CT501(c)(3)Unrestricted$25,000
Education Reform NowNew York, NY501(c)(3)Education Bridgeport program$10,000
Partnership for Strong CommHartford, CT501(c)(3)Leadership Roundtable Program$10,000
Excel BridgeportBridgeport, CT501(c)(3)General and Unrestricted$7,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Andrew Boas and Carol Boas are husband and wife.

Form 990, Part VI, Line 11B: Form 990 Review Process

A draft of the Form 990 is distributed to the Board prior to filing and the Board members are asked to provide their comments, if any, promptly.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Upon request.

Filing and Contact Details

Filer

Filer Name
Charter Oak Challenge Foundation Inc
EIN
06-1620722
Phone
2032262307
Address
575 Riverside Avenue Suite 202A, Westport, CT 06880

Signing Officer

Name
Andrew Boas
Title
Pres/Treasurer
Signed
2017-08-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Boas
Formed
2001
Legal Domicile
Ct
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
10

Preparer

Firm
Blazek & Vetterling
Address
2900 Weslayan Suite 200, Houston, TX 77027-5132
Preparer
Jody Blazek
Phone
7134395739
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IRS990/ProgSrvcAccomActy2Grp/Desc0Charter Oak supports nearly 120 Bridgeport, CT students in Charter Oaks scholarship program as they continue to excel in graduate school programs. They have excelled academically and contributed significantly to their communities despite tremendous financial and personal hardships. The results have been staggering. Over 95% students have graduated college nearly four times the 25 percent graduation rate among all Bridgeport students who go to college.
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0308231
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01193643
IRS990ScheduleA/TotalSupportAmt01196544
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleC/AvgGrassrootsLobbyingExpendGrp/CurrentYearMinus2Amt015000
IRS990ScheduleC/AvgGrassrootsLobbyingExpendGrp/TotalAmt015000
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearAmt07332
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus1Amt011021
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus2Amt021406
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus3Amt017298
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/TotalAmt057057
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearAmt029329
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus1Amt044082
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus2Amt085622
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus3Amt069191
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/TotalAmt0228224
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/CurrentYearMinus2Amt015000
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/TotalAmt015000
IRS990ScheduleC/CorrectionMadeInd0false
IRS990ScheduleC/Form4720FiledInd0false
IRS990ScheduleC/Form4720FiledSection4955TaxInd0false
IRS990ScheduleC/GrassrootsCeilingAmt085586
IRS990ScheduleC/GrassrootsNontaxableGrp/FilingOrganizationsTotalAmt07332
IRS990ScheduleC/LobbyingCeilingAmt0342336
IRS990ScheduleC/LobbyingNontaxableAmountGrp/FilingOrganizationsTotalAmt029329
IRS990ScheduleC/OtherExemptPurposeExpendGrp/FilingOrganizationsTotalAmt0146647
IRS990ScheduleC/TotalExemptPurposeExpendGrp/FilingOrganizationsTotalAmt0146647
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt010600
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt06
IRS990ScheduleI/RecipientTable/CashGrantAmt045000
IRS990ScheduleI/RecipientTable/CashGrantAmt110000
IRS990ScheduleI/RecipientTable/CashGrantAmt27500
IRS990ScheduleI/RecipientTable/CashGrantAmt310000
IRS990ScheduleI/RecipientTable/CashGrantAmt425000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501(c)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt40
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Achievement First Bridgeport
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Education Bridgeport program
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2General and Unrestricted
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Leadership Roundtable Program
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Unrestricted
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Achievement First Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Education Reform Now
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Excel Bridgeport
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Partnership for Strong Comm
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4Teach For America-CT
IRS990ScheduleI/RecipientTable/RecipientEIN0651203744
IRS990ScheduleI/RecipientTable/RecipientEIN1203687838
IRS990ScheduleI/RecipientTable/RecipientEIN2450824113
IRS990ScheduleI/RecipientTable/RecipientEIN3200882009
IRS990ScheduleI/RecipientTable/RecipientEIN4133541913
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0403 James Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1928 Broadway 505
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt21057 Broad Street Suite 302
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3227 Lawrence Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4370 James St 404
IRS990ScheduleI/RecipientTable/USAddress/CityNm0New Haven
IRS990ScheduleI/RecipientTable/USAddress/CityNm1New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Bridgeport
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Hartford
IRS990ScheduleI/RecipientTable/USAddress/CityNm4New Haven
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2CT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3CT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4CT
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd006513
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd110010
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd206604
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd306106
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd406513
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The Foundation awards a select number of grants to organizations and is able to work with them to ensure the appropriate use of the funds.As described in Part III, the Foundation maintains a close relationship with the students in its scholarship program in order to ensure their academic success and appropriate use of the funds.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
IRS990ScheduleI/Total501c3OrgCnt05
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt01
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0Val date recd
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt031961
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Andrew Boas and Carol Boas are husband and wife.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A draft of the Form 990 is distributed to the Board prior to filing and the Board members are asked to provide their comments, if any, promptly.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0390973
IRS990/TotalAssetsEOYAmt0394724
IRS990/TotalAssetsGrp/BOYAmt0390973
IRS990/TotalAssetsGrp/EOYAmt0394724
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0147576
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt017326
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03721
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0125600
IRS990/TotalFunctionalExpensesGrp/TotalAmt0146647
IRS990/TotalGrossUBIAmt00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.15$0.00$2.15$0.39$2.30$1.91
2023Detailed filing. Detailed filing data is available for this year.$4.07$0.00$4.07$0.04$0.13$0.08
2022Detailed filing. Detailed filing data is available for this year.$4.15$0.00$4.15$0.16$0.02$0.14
2021Detailed filing. Detailed filing data is available for this year.$4.01$0.00$4.01$0.58$0.47$0.11
2020Detailed filing. Detailed filing data is available for this year.$3.90$0.00$3.90$1.06$0.30$0.76
2019Detailed filing. Detailed filing data is available for this year.$3.15$0.00$3.15$1.01$1.42$0.42
2018Detailed filing. Detailed filing data is available for this year.$3.56$0.00$3.56$1.29$2.37$1.08
2017Detailed filing. Detailed filing data is available for this year.$4.65$0.00$4.65$1.34$0.69$0.65
2016Detailed filing. Detailed filing data is available for this year.$3.95$0.00$3.95$1.50$1.47$0.04
2015Detailed filing. Detailed filing data is available for this year.$3.91$0.00$3.91$2.28$2.20$0.08
2014Detailed filing. Detailed filing data is available for this year.$3.83$0.00$3.83$2.98$4.28$1.30
2013Detailed filing. Detailed filing data is available for this year.$5.13$0.00$5.13$2.18$3.46$1.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.41$0.00$6.41$3.82
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.14$0.00$7.14$3.70
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.29$0.00$6.29$4.26