Challenge Elite Inc

Analysis

Challenge Elite Inc is a registered charity in United States, based in Friendswood, TX. It received its IRS tax-exemption ruling in January 2018, 8 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 December 2022, Challenge Elite Inc reported income of $135k and spending of $169k, spending 126% of what it took in. Across the 3 years on record, from December 2019 to December 2022, income fell from $229k to $135k (-41%), an average of -23% a year. The sharpest change came in the year to December 2022, when income dropped by 41%. Over the whole period it spent 94% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Challenge Elite Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 48th percentile within TX. Charities of a similar size with the same main cause include Pembroke Youth Soccer ($135k), United States National Rifle Team ($135k) and South Boston Youth Hockey Association Inc ($135k).

On its Form 990-EZ for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $118k against liabilities of $4,150, net assets of $114k.