Challenge Preparatory Charter School

Analysis

Challenge Preparatory Charter School is a registered charity in United States, based in Far Rockaway, NY. It received its IRS tax-exemption ruling in July 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Challenge Preparatory Charter School reported income of $27.1m and spending of $28.7m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $14.8m to $27.1m (+83%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 30%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Challenge Preparatory Charter School sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include American International School of Lagos Nigeria ($27.1m), American Jewish University ($27.1m) and Ashley Hall Foundation ($27.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.3% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $1.4m (4.8% of expenses). Other salaries and wages came to $12.0m. At year end it held assets of $104.7m against liabilities of $104.5m, net assets of $198k. It reported 216 employees.