Challenge Discovery Projects Inc

Analysis

Challenge Discovery Projects Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in June 1980, 46 years ago. 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 Discovery Projects Inc reported income of $895k and spending of $1.0m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $965k to $895k (-7.2%), an average of -1.8% a year. The sharpest change came in the year to June 2021, when income rose by 31%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Challenge Discovery Projects Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within VA. Charities of a similar size with the same main cause include Rio Grande Cancer Foundation ($895k), Solana Beach Schools Foundation ($895k) and Assoc for Research on Nonprofit Organizations & Voluntary Actions ($895k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $162k (16% of expenses). Other salaries and wages came to $417k. At year end it held assets of $759k against liabilities of $259k, net assets of $500k. It reported 14 employees.