Challenge Unlimited Inc

Analysis

Challenge Unlimited Inc is a registered charity in United States, based in Andover, MA. It received its IRS tax-exemption ruling in April 1985, 41 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Challenge Unlimited Inc reported income of $2.0m and spending of $1.8m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $2.0m (+11%), an average of +2.6% a year. The sharpest change came in the year to December 2020, when income dropped by 34%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Challenge Unlimited Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Overcoming Love Ministries Inc ($2.0m), Conservative Mennonite Financial ($2.0m) and Community Clinic of Southwest Missouri ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $85k (4.8% of expenses). Other salaries and wages came to $817k. It paid $26k in professional fundraising fees. At year end it held assets of $6.1m against liabilities of $1.6m, net assets of $4.6m. It reported 51 employees.