Civic Intelligence

Charter Oak Challenge Foundation Inc.

990 • Fiscal year 2019 • EIN 06-1620722

Jan 01, 2019 to Dec 31, 2019 • Filed on Apr 30, 2020

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

57th percentile

0.00x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.00x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

9th percentile

-41%

Higher net margin than 9% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

27th percentile

-12%

Faster asset growth than 27% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

23rd percentile

-22%

Faster revenue growth than 23% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets57th percentile

Assets

Down

$314,517

Down $41,748 (-12%) from 2018

Net Assets

Down

$314,517

Down $41,748 (-12%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin9th percentile

Revenue

Down

$100,743

Down $28,267 (-22%) from 2018

Expenses

Down

$142,491

Down $94,786 (-40%) from 2018

Net Income

Up

-$41,748

Up $66,519 (+61%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth27th 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

2019

Assets$314,517
Liabilities$0
Net Assets$314,517
Open 2019 Filing

Operations Trend

Revenue Growth23rd 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

2019

Revenue$100,743
Expenses$142,491
Net Income-$41,748
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 30, 2020
Return Version
2019v5.0
Gross Receipts
$100,743
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$356,265$314,517▼ $41,748
Savings and Temporary Cash Investments$353,688$309,495▼ $44,193
Investments in Publicly Traded Securities$2,577$2,577→ $0
Cash and Non-Interest-Bearing Accounts-$2,445-
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$356,265$314,517▼ $41,748
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$356,265$314,517▼ $41,748
Total Liabilities and Net Assets / Fund Balance$356,265$314,517▼ $41,748
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$99,670
Program Service Revenue
$0
Investment Income
$1,073
Other Revenue
$0
All Other Contributions
$99,670
Change in Net Assets
$-41,748
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$135,500
Other Expenses$6,991
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$135,500--$135,500
Other Expenses$4,421--$4,421
Fees for Services Accounting-$1,500-$1,500
Office Expenses-$536-$536
Information Technology-$534-$534
Total Functional Expenses$139,921$2,570$0$142,491
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
50CAN IncWashington, DC501(c)(3)PACE education Strategies$45,000
Faithacts for EducationBridgeport, CT501(c)(3)Program support$33,000
Teach For America-CTNew Haven, CT501(c)(3)Program support$25,000
Achievement First IncNew Haven, CT501(c)(3)Program support$15,000
Five FrogsFairfield, CT501(c)(3)Program support$12,500
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
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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 have a family relationship.”

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
President
Signed
2020-04-30
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
Barbara Murphy
Phone
7134395739
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IRS990ScheduleC/AvgGrassrootsNontaxableGrp/TotalAmt029769
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearAmt028498
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus1Amt047456
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus2Amt013790
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus3Amt029329
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/TotalAmt0119073
IRS990ScheduleC/CorrectionMadeInd0false
IRS990ScheduleC/Form4720FiledInd0false
IRS990ScheduleC/Form4720FiledSection4955TaxInd0false
IRS990ScheduleC/GrassrootsCeilingAmt044654
IRS990ScheduleC/GrassrootsNontaxableGrp/FilingOrganizationsTotalAmt07125
IRS990ScheduleC/LobbyingCeilingAmt0178610
IRS990ScheduleC/LobbyingNontaxableAmountGrp/FilingOrganizationsTotalAmt028498
IRS990ScheduleC/OtherExemptPurposeExpendGrp/FilingOrganizationsTotalAmt0142491
IRS990ScheduleC/TotalExemptPurposeExpendGrp/FilingOrganizationsTotalAmt0142491
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt045000
IRS990ScheduleI/RecipientTable/CashGrantAmt115000
IRS990ScheduleI/RecipientTable/CashGrantAmt233000
IRS990ScheduleI/RecipientTable/CashGrantAmt312500
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/PurposeOfGrantTxt0PACE education Strategies
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Program support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Program support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Program support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Program support
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt050CAN Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Achievement First Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Faithacts for Education
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Five Frogs
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4Teach For America-CT
IRS990ScheduleI/RecipientTable/RecipientEIN0273069592
IRS990ScheduleI/RecipientTable/RecipientEIN1651203744
IRS990ScheduleI/RecipientTable/RecipientEIN2472150020
IRS990ScheduleI/RecipientTable/RecipientEIN3813273201
IRS990ScheduleI/RecipientTable/RecipientEIN4133541913
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01625 K Street NW Suite 400
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1495 Blake Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2160 Fairfield Avenue
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt31210 Post Road
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4370 James St 404
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Washington
IRS990ScheduleI/RecipientTable/USAddress/CityNm1New Haven
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Bridgeport
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Fairfield
IRS990ScheduleI/RecipientTable/USAddress/CityNm4New Haven
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0DC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1CT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2CT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3CT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4CT
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd020006
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd106515
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd206604
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd306824
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.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
IRS990ScheduleI/Total501c3OrgCnt05
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Andrew Boas and Carol Boas have a family relationship.
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/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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0356265
IRS990/TotalAssetsEOYAmt0314517
IRS990/TotalAssetsGrp/BOYAmt0356265
IRS990/TotalAssetsGrp/EOYAmt0314517
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt099670
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02570
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0139921
IRS990/TotalFunctionalExpensesGrp/TotalAmt0142491
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0356265
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0314517
IRS990/TotalProgramServiceExpensesAmt0139921
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01073
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0100743
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0356265
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0314517
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0575 Riverside Avenue Suite 202A
IRS990/USAddress/CityNm0Westport
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006880
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.charteroakfoundation.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Andrew Boas
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Charter Oak Challenge Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0CHAR

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$314,517
Liabilities
$0
Net assets
$314,517
Revenue
$100,743
Expenses
$142,491
Net income
-$41,748
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