I Challenge Myself Inc

Analysis

I Challenge Myself Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 2004, 22 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 June 2023, I Challenge Myself Inc reported income of $634k and spending of $653k, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $238k to $634k (+167%), an average of +28% a year. The sharpest change came in the year to June 2020, when income rose by 110%. Over the whole period it spent 99% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, I Challenge Myself Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 69th percentile within NY. Charities of a similar size with the same main cause include Louisville Soccer Foundation ($634k), Buffalo Scholastic Rowing Association Inc ($634k) and Lamar Athletic Booster Club ($634k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $103k (16% of expenses). Other salaries and wages came to $277k. At year end it held assets of $146k against liabilities of $17k, net assets of $129k. It reported 22 employees.