Connecticut Challenge Inc

Analysis

Connecticut Challenge Inc is a registered charity in United States, based in Southport, CT. It received its IRS tax-exemption ruling in September 2005, 21 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Connecticut Challenge Inc reported income of $543k and spending of $796k, spending 147% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $1.4m to $543k (-61%), an average of -27% a year. The sharpest change came in the year to December 2020, when income dropped by 136%. Over the whole period it spent 194% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Connecticut Challenge Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within CT. Charities of a similar size with the same main cause include Encouragers Counseling and Training Centers Inc ($543k), Charlie Landers Foundation ($543k) and Mad-Id Incorporated ($543k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $110k (14% of expenses). Other salaries and wages came to $71k. At year end it held assets of $385k against liabilities of $1.4m, net assets of -$969k. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.