Challenge Detroit

Analysis

Challenge Detroit is a registered charity in United States, based in Royal Oak, MI. It received its IRS tax-exemption ruling in June 2012, 14 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Challenge Detroit reported income of $382k and spending of $388k, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $320k to $382k (+19%), an average of +4.5% a year. The sharpest change came in the year to June 2022, when income rose by 51%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Challenge Detroit sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 66th percentile within MI. Charities of a similar size with the same main cause include Jackson County Economic Development Partnership ($382k), Sellwood Moreland Improvement League ($382k) and Connecticut Alliance to Benefit Law Enforcement Inc ($382k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $104k (27% of expenses). Other salaries and wages came to $158k. At year end it held assets of $277k against liabilities of $2,009, net assets of $275k. It reported 3 employees.