Civic Intelligence

Charter Oak Challenge Foundation Inc.

990 • Fiscal year 2017 • EIN 06-1620722

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 02, 2018

Organization Profilewww.charteroakfoundation.org
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.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

56th percentile

0.00x

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

91st percentile

48%

Higher net margin than 91% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

70th percentile

18%

Faster asset growth than 70% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

32nd percentile

-11%

Faster revenue growth than 32% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$464,532

Up $69,808 (+18%) from 2016

Net Assets

Up

$464,532

Up $69,808 (+18%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin91st percentile

Revenue

Down

$133,757

Down $16,641 (-11%) from 2016

Expenses

Down

$68,949

Down $77,698 (-53%) from 2016

Net Income

Up

$64,808

Up $61,057 (+1628%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

2017

Assets$464,532
Liabilities$0
Net Assets$464,532
Open 2017 Filing

Operations Trend

Revenue Growth32nd percentile

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

2017

Revenue$133,757
Expenses$68,949
Net Income$64,808
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 2, 2018
Return Version
2017v2.2
Gross Receipts
$139,711
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$394,724$464,532▲ $69,808
Savings and Temporary Cash Investments$276,125$282,021▲ $5,896
Cash and Non-Interest-Bearing Accounts$118,599$151,743▲ $33,144
Investments in Publicly Traded Securities-$30,768-
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$394,724$464,532▲ $69,808
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$394,724$464,532▲ $69,808
Total Liabilities and Net Assets / Fund Balance$394,724$464,532▲ $69,808
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$133,186
Program Service Revenue
$0
Investment Income
$571
Other Revenue
$0
All Other Contributions
$133,186
Change in Net Assets
$64,808

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 Traded2$36,721Fair Market Value (FMV)
Total Noncash Contributions2$36,721-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$47,500
Other Expenses$21,449
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$45,500--$45,500
Other Expenses$16,753--$16,753
Grants to Domestic Individuals$2,000--$2,000
Office Expenses-$1,989-$1,989
Fees for Services Accounting-$1,500-$1,500
Information Technology-$732-$732
Insurance-$475-$475
Total Functional Expenses$64,253$4,696$0$68,949
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Teach For America-CTNew Haven, CT501(c)(3)Teach for America Benefit$25,000
Five FrogsFairfield, CT501(c)(3)Leadership 2017 program$10,000
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
Yes
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 promptly provide their comments, if any.”

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
2018-11-02
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
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Returned grants from prior period = $5000”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgSrvcAccomActy3Grp/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/SubstantialContributorsTotAmt0555615
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0133186
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0147576
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0227892
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0297521
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0212423
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01018598
IRS990ScheduleA/TotalSupportAmt01021572
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleC/AvgGrassrootsLobbyingExpendGrp/CurrentYearMinus3Amt015000
IRS990ScheduleC/AvgGrassrootsLobbyingExpendGrp/TotalAmt015000
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearAmt03448
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus1Amt07332
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus2Amt011021
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus3Amt021406
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/TotalAmt043207
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearAmt013790
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus1Amt029329
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus2Amt044082
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus3Amt085622
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/TotalAmt0172823
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/CurrentYearMinus3Amt015000
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/TotalAmt015000
IRS990ScheduleC/CorrectionMadeInd0false
IRS990ScheduleC/Form4720FiledInd0false
IRS990ScheduleC/Form4720FiledSection4955TaxInd0false
IRS990ScheduleC/GrassrootsCeilingAmt064811
IRS990ScheduleC/GrassrootsNontaxableGrp/FilingOrganizationsTotalAmt03448
IRS990ScheduleC/LobbyingCeilingAmt0259235
IRS990ScheduleC/LobbyingNontaxableAmountGrp/FilingOrganizationsTotalAmt013790
IRS990ScheduleC/OtherExemptPurposeExpendGrp/FilingOrganizationsTotalAmt068949
IRS990ScheduleC/TotalExemptPurposeExpendGrp/FilingOrganizationsTotalAmt068949
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/CashGrantAmt125000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(c)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Leadership 2017 program
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Teach for America Benefit
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Five Frogs
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Teach For America-CT
IRS990ScheduleI/RecipientTable/RecipientEIN0813273201
IRS990ScheduleI/RecipientTable/RecipientEIN1133541913
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01210 Post Road
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1370 James St 404
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Fairfield
IRS990ScheduleI/RecipientTable/USAddress/CityNm1New Haven
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1CT
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd006824
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd106513
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/Total501c3OrgCnt02
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt02
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0FMV
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt036721
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 promptly provide their comments, if any.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Returned grants from prior period = $5000
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0394724
IRS990/TotalAssetsEOYAmt0464532
IRS990/TotalAssetsGrp/BOYAmt0394724
IRS990/TotalAssetsGrp/EOYAmt0464532
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0133186
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04696
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt064253
IRS990/TotalFunctionalExpensesGrp/TotalAmt068949
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0394724
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0464532
IRS990/TotalProgramServiceExpensesAmt064253
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0571
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0133757
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0394724
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0464532
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt011 Bridge Square
IRS990/USAddress/CityNm0Westport
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006880
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.charteroakfoundation.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Andrew Boas
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Pres/Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Charter Oak Challenge Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0CHAR
ReturnHeader/Filer/EIN0061620722
ReturnHeader/Filer/PhoneNum02032262307

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$464,532
Liabilities
$0
Net assets
$464,532
Revenue
$133,757
Expenses
$68,949
Net income
$64,808
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