Civic Intelligence

Charter Oak Challenge Foundation Inc.

990EZ • Fiscal year 2023 • EIN 06-1620722

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 20, 2024

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

58th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

4th percentile

-186%

Higher net margin than 4% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

43rd percentile

-2.0%

Faster asset growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

6th percentile

-71%

Faster revenue growth than 6% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$406,829

Down $8,260 (-2.0%) from 2022

Net Assets

Down

$406,829

Down $8,260 (-2.0%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue

Down

$4,447

Down $11,124 (-71%) from 2022

Expenses

Up

$12,707

Up $11,063 (+673%) from 2022

Net Income

Down

-$8,260

Down $22,187 (-159%) from 2022

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

2023

Assets$406,829
Liabilities$0
Net Assets$406,829

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

2023

Revenue$4,447
Expenses$12,707
Net Income-$8,260
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 20, 2024
Return Version
2023v5.1
Gross Receipts
$4,447
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.

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

Program Services

DescriptionGrantsExpenses
The Foundation makes grants to agencies in Bridgeport, CT to promote scholastic development of Bridgeport children by improving elementary and secondary education through its support of charter and public schools.$10,500$10,500
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Andrew BoasPresident/TreasurerPT$0--
Carol BoasSecretaryPT$0--
Dick KaltDirectorPT$0--
Pearl KaneDirectorPT$0--
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
Phone
2032262307
Signed
2024-09-20
Discuss with paid preparer
Yes

Preparer

Firm
Blazek & Vetterling
Address
2900 Weslayan Suite 200, Houston, TX 77027
Preparer
Barbara Murphy
Phone
7134395739
Supplemental Narrative

Additional Explanations

Form 990-EZ, Part I, Line 4 - Other Investment Income

Description: Interest and dividends. Amount: 1,906.

Form 990-EZ, Part I, Line 10 - Grants and Similar Amounts Paid

Activity Classification: Program activity. Grantee Name: Achievement First Inc.. Grantee Address: 470 James St, Ste 7 New Haven, CT 06513-3175. Grantee Relationship: N/A. Amount Given: 10,000.

Form 990-EZ, Part I, Line 10 - Grants and Similar Amounts Paid

Activity Classification: Program activity. Grantee Name: Westport Rotary Club Foundation. Grantee Address: PO Box 743 Westport, CT 06881-0743. Grantee Relationship: N/A. Amount Given: 500. Total included on Form 990-EZ, line 10: 10,500.

Form 990-EZ, Part I, Line 16 - Other Expenses

Description: Bank charges. Amount: 125. Description: Office expense. Amount: 784. Description: Website expense. Amount: 98. Total to Form 990-EZ, line 16: 1,007.

Raw XML Appendix172 raw XML fields

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

Path#Value
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IRS990EZ/BooksInCareOfDetail/PhoneNum02032262305
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IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0Westport
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0CT
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0Andrew Boas
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2Dick Kalt
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3Pearl Kane
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0President/Treasurer
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1Secretary
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2Director
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3Director
IRS990EZ/OperateHospitalInd00
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IRS990EZ/OtherChangesInNetAssetsAmt00
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IRS990EZ/PrimaryExemptPurposeTxt0The Foundation is dedicated to building better futures for disadvantaged children and their families in Greater Bridgeport, CT.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0The Foundation makes grants to agencies in Bridgeport, CT to promote scholastic development of Bridgeport children by improving elementary and secondary education through its support of charter and public schools.
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt010500
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt010500
IRS990EZ/ProhibitedTaxShelterTransInd00
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IRS990EZ/TotalRevenueAmt04447
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd00
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IRS990EZ/WebsiteAddressTxt0www.charteroakfoundation.org
IRS990ScheduleA/FactsAndCircumstancesTestTxt0The Charter Oak Challenge Foundation Inc. (COCF) submits that throughout its existence to date and in the future, it qualifies as a public charity under Internal Revenue Code 509(a)(1) by satisfying the requirements of Regulations 1.170A-9(f)(3) as follows:(i). Ten Percent Test: COCF has historically and normally can be expected in the future to receive over 10% of its total support from the general public.(ii). Attraction of Public Support: COCF has historically maintained a continuous annual solicitation of funds from the public through a bike-ride challenge in which the general public donates to COCF based on the biking performance of the participants. While COVID has caused a brief cessation of the bike-ride challenge, future bike-ride challenges are expected to provide COCF with more than sufficient public support. In addition, COCF actively solicits former donors and their associates for their continued support of the foundation. (iii). Percentage of Financial Support: COCF received about 29% of its total support from public sources during the past two years and over 35% in prior years. As indicated above, the challenges of COVID have impacted the foundation's one significant public fundraising program.(iv). Sources of Support: COCF receives modest contributions from a representative number of foundations and individuals. As more families struggle to receive appropriate scholastic development services, COCF believes that the general public will be more inclined to help fund its mission.(v) Representative Governing Body: COCF's governing body comprises 4 business leaders. The board continues its search for additional individuals who can bring their skills to COCF. Current and future governing body members are active and engaged in their communities, can support COCF's strategic development plan, have expertise in education, and are actively committed to reaching out for public support.(vi). Availability of Facilities or Services and Public Participation: COCF's programs have historically impacted the public through its grants to educational institutions that provide program-based learning opportunities for potentially at-risk children. The grants help create a scholastic environment where every child receives a quality education. The general public is a beneficiary of COCF's programs.CONCLUSION: COCF believes it qualifies as a publicly supported charity described in IRC 509(a)(1) pursuant to the facts and circumstances test found in Treasury Regulation 1.170A-9(e)(3). COCF has and will receive well in excess of ten percent (10%) of its total support from qualifying public sources.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Description: Interest and dividends. Amount: 1,906.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Activity Classification: Program activity. Grantee Name: Achievement First Inc.. Grantee Address: 470 James St, Ste 7 New Haven, CT 06513-3175. Grantee Relationship: N/A. Amount Given: 10,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Activity Classification: Program activity. Grantee Name: Westport Rotary Club Foundation. Grantee Address: PO Box 743 Westport, CT 06881-0743. Grantee Relationship: N/A. Amount Given: 500. Total included on Form 990-EZ, line 10: 10,500.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Description: Bank charges. Amount: 125. Description: Office expense. Amount: 784. Description: Website expense. Amount: 98. Total to Form 990-EZ, line 16: 1,007.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990-EZ, Part I, Line 4 - Other Investment Income
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990-EZ, Part I, Line 10 - Grants and Similar Amounts Paid
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990-EZ, Part I, Line 10 - Grants and Similar Amounts Paid
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990-EZ, Part I, Line 16 - Other Expenses
TransferPrsnlBnftContractsDecl/DeclarationDesc0The organization did not, during the year, receive any funds, directly,or indirectly, to pay premiums on a personal benefit contract.The organization, did not, during the year, pay any premiums, directly,or indirectly, on a personal benefit contract.
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Andrew Boas
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum02032262307
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Charter Oak Challenge Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0CHAR
ReturnHeader/Filer/EIN0061620722
ReturnHeader/Filer/PhoneNum02032262307
ReturnHeader/Filer/USAddress/AddressLine1Txt0575 Riverside Avenue Suite 202A
ReturnHeader/Filer/USAddress/CityNm0Westport
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006880
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0760269860
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Blazek & Vetterling
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02900 Weslayan Suite 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Houston
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077027
ReturnHeader/PreparerPersonGrp/PhoneNum07134395739
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Barbara Murphy
ReturnHeader/ReturnTs02024-09-20T10:15:49-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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