Charter Oak Challenge Foundation Inc (EIN 061620722) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Principal Officer

Andrew Boas

Phone

2032262307

Tax Period

2024-01-01 to 2024-12-31

Charter Oak Challenge Foundation Inc, founded in 2001, is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $39K in total revenue in fiscal year 2024. Revenue surged 780% from the prior year, signaling strong growth momentum. Expenses of $230K exceeded revenue, resulting in a 489% operating deficit.

Mission

To build better futures for disadvantaged children and their families in the Greater Bridgeport, CT area.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $28,300

Program Service Revenue $0

Investment Income $10,824

Other Revenue $0

TOTAL REVENUE $39,124

Expense Breakdown

Grants Paid $230,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $230,000

Other Expenses $484

TOTAL EXPENSES $230,484

Year-over-Year Comparison

	2024	2023	Change
Revenue	$39,124	$4,447	+7.8%
Expenses	$230,484	$12,707	+17.1%
Net Income	$-191,360	$-8,260	+22.2%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Andrew Boas	President/Treasurer	20.00	Officer Director	$0	$0	$0
Carol Boas	Secretary	20.00	Officer Director	$0	$0	$0
Dick Kalt	Director	5.00	Director	$0	$0	$0
Pearl Kane	Director	5.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$39,124	$230,484	$215,469	$-191,360
2019	$100,743	$142,491	$314,517	$-41,748
2018	$129,010	$237,277	$356,265	$-108,267

Charter Oak Challenge Foundation Inc