Challenge Industries Inc

Challenge Industries Inc maintains stable finances with no reported officer compensation, despite fluctuating revenues.

EIN: 160956917 · Ithaca, NY · NTEE: J33Z · Updated: 2026-03-28

$7.0MRevenue

$4.9MAssets

85/100Mission Score (Excellent)

J33Z

About Challenge Industries Inc

Challenge Industries Inc (EIN: 160956917) is a nonprofit organization based in Ithaca, NY, classified under NTEE code J33Z. The organization reported total revenue of $7.0M and total assets of $4.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Challenge Industries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Challenge Industries Inc demonstrates a generally stable financial position, with assets growing from $2,269,595 in 2019 to $4,102,027 in 2023. The organization has consistently managed its expenses close to its revenue, as seen in 2023 where expenses were $3,375,161 against revenues of $3,379,536, indicating a focus on breaking even or generating modest surpluses. While specific program, administrative, and fundraising spending ratios are not provided in the raw data, the absence of reported officer compensation across all filings suggests a commitment to minimizing overhead in this area, which is a positive indicator for spending efficiency.

The organization's revenue has fluctuated over the past decade, peaking around $6-7 million in the mid-2010s and settling around $3-4 million in recent years. Despite these fluctuations, the organization has maintained a healthy asset base relative to its liabilities, with assets of $4,102,027 and liabilities of $1,675,678 in 2023. This financial stability, coupled with no reported officer compensation, suggests a transparent and efficient approach to managing its resources, likely directing a significant portion towards its mission.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Challenge Industries Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, Challenge Industries Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating that no compensation is paid to officers, which is highly unusual for an organization of its size and suggests either a volunteer leadership structure or that compensation is reported under other categories, warranting further investigation for full transparency.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Challenge Industries Inc's IRS 990 filings:

Unusually low (0%) reported officer compensation across all filings, which may indicate compensation is reported elsewhere or a highly unusual volunteer leadership structure for an organization of this size, potentially obscuring full compensation transparency.
Significant fluctuation and overall decline in revenue from $6,771,335 in 2014 to $3,379,536 in 2023, which could impact long-term sustainability if not addressed.

Strengths

The following positive indicators were identified for Challenge Industries Inc:

Consistent financial stability with assets generally exceeding liabilities, for example, $4,102,027 in assets vs. $1,675,678 in liabilities in 2023.
Expenses consistently managed close to revenue, indicating responsible budgeting and operational efficiency (e.g., $3,375,161 expenses vs. $3,379,536 revenue in 2023).
Growth in assets from $2,269,595 in 2019 to $4,102,027 in 2023, demonstrating an increase in financial reserves.
No reported officer compensation, suggesting a strong commitment to directing funds towards the mission rather than executive salaries, assuming compensation is not hidden in other categories.

Frequently Asked Questions about Challenge Industries Inc

Is Challenge Industries Inc a good charity?

Based on the provided data, Challenge Industries Inc appears to be a financially stable organization with a strong commitment to minimizing executive compensation, as evidenced by 0% officer compensation reported across all filings. Its asset growth and consistent management of expenses near revenue suggest responsible financial stewardship. However, without detailed breakdowns of program, administrative, and fundraising expenses, a complete assessment of its programmatic efficiency is challenging.

How has Challenge Industries Inc's revenue trended over the past decade?

Challenge Industries Inc's revenue has seen a downward trend from a peak of $6,771,335 in 2014 to $3,379,536 in 2023, with some fluctuations in between. For example, revenue was $6,021,191 in 2018 and $4,448,766 in 2022.

What is the organization's asset-to-liability ratio?

In 2023, Challenge Industries Inc had assets of $4,102,027 and liabilities of $1,675,678, resulting in an asset-to-liability ratio of approximately 2.45:1, indicating a healthy financial position where assets significantly exceed liabilities.

Filing History

IRS 990 filing history for Challenge Industries Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Challenge Industries Inc's revenue has declined by 41.6%, moving from $5.8M to $3.4M. Total assets increased by 40.9% over the same period, from $2.9M to $4.1M. Total functional expenses fell by 46.4%, from $6.3M to $3.4M. In its most recent filing year (2023), Challenge Industries Inc reported a surplus of $4K, with revenue exceeding expenses. The organization holds $1.7M in liabilities against $4.1M in assets (debt-to-asset ratio: 40.8%), resulting in net assets of $2.4M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3.4M	$3.4M	$4.1M	$1.7M	—	—
2022	$4.4M	$3.1M	$4.2M	$1.7M	—	—
2021	$3.9M	$3.3M	$3.0M	$2.2M	—	View 990
2020	$4.4M	$4.5M	$2.3M	$2.2M	—	—
2019	$5.4M	$5.4M	$2.3M	$2.2M	—	View 990
2018	$6.0M	$6.1M	$2.3M	$2.3M	—	View 990
2017	$5.9M	$6.0M	$2.5M	$2.4M	—	View 990
2016	$6.3M	$6.7M	$2.9M	$2.3M	—	View 990
2015	$6.3M	$7.3M	$3.8M	$2.8M	—	View 990
2014	$6.8M	$7.4M	$5.5M	$3.4M	—	View 990
2013	$6.8M	$6.9M	$6.2M	$3.3M	—	View 990
2012	$7.0M	$6.6M	$3.5M	$652K	—	View 990
2011	$5.8M	$6.3M	$2.9M	$571K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3.4M, expenses of $3.4M, and assets of $4.1M (revenue -24.0% year-over-year).
2022: Revenue of $4.4M, expenses of $3.1M, and assets of $4.2M (revenue +14.8% year-over-year).
2021: Revenue of $3.9M, expenses of $3.3M, and assets of $3.0M (revenue -12.8% year-over-year).
2020: Revenue of $4.4M, expenses of $4.5M, and assets of $2.3M (revenue -18.4% year-over-year).
2019: Revenue of $5.4M, expenses of $5.4M, and assets of $2.3M (revenue -9.5% year-over-year).
2018: Revenue of $6.0M, expenses of $6.1M, and assets of $2.3M (revenue +2.7% year-over-year).
2017: Revenue of $5.9M, expenses of $6.0M, and assets of $2.5M (revenue -6.9% year-over-year).
2016: Revenue of $6.3M, expenses of $6.7M, and assets of $2.9M (revenue +0.2% year-over-year).
2015: Revenue of $6.3M, expenses of $7.3M, and assets of $3.8M (revenue -7.1% year-over-year).
2014: Revenue of $6.8M, expenses of $7.4M, and assets of $5.5M (revenue -0.3% year-over-year).
2013: Revenue of $6.8M, expenses of $6.9M, and assets of $6.2M (revenue -3.1% year-over-year).
2012: Revenue of $7.0M, expenses of $6.6M, and assets of $3.5M (revenue +21.1% year-over-year).
2011: Revenue of $5.8M, expenses of $6.3M, and assets of $2.9M.

Data Sources and Methodology

This transparency report for Challenge Industries Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.