Challenge Unlimited Inc
Challenge Unlimited Inc: Steady Revenue, Strong Asset Base
EIN: 222478997 · Andover, MA · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $1.8M |
| Program Spending | 80% |
| Net Assets | $4.6M |
| Transparency Score | 75/100 |
Is Challenge Unlimited Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Challenge Unlimited Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Challenge Unlimited Inc
Challenge Unlimited Inc (EIN: 222478997) is a nonprofit organization based in Andover, MA. The organization reported total revenue of $2.1M and total assets of $6.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Challenge Unlimited Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Challenge Unlimited Inc is a mid-size nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.0M |
| Total Expenses | $1.8M |
| Surplus / Deficit | +$257K |
| Total Assets | $6.1M |
| Total Liabilities | $1.6M |
| Net Assets | $4.6M |
| Operating Margin | 12.7% |
| Debt-to-Asset Ratio | 25.5% |
| Months of Reserves | 41.8 months |
Financial Health Grade: A
In 2023, Challenge Unlimited Inc reported a surplus of $257K with revenue exceeding expenses, holds 41.8 months of operating reserves (strong position), has a debt-to-asset ratio of 25.5% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Challenge Unlimited Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.5% | +4.9% | +3.4% |
| 2022 | +30.0% | +27.1% | +8.1% |
| 2021 | +15.3% | +2.1% | +2.8% |
| 2020 | -33.8% | -13.1% | -2.3% |
| 2019 | +0.6% | +8.5% | -0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Challenge Unlimited Inc with a Mission Score of 75 out of 100 (Good). 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: 80%
- fundraising: 10%
According to IRS 990 filings, Challenge Unlimited Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $257K, with revenue exceeding expenses.
- Debt-to-asset ratio: 25.5%.
Executive Compensation Analysis
Executive compensation cannot be assessed from the provided data, as specific figures for individual salaries are not included in the summary financial filings.
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.
Strengths
The following positive indicators were identified for Challenge Unlimited Inc:
- Consistent revenue generation, with 2023 revenue at $2,021,508.
- Strong and growing asset base, reaching $6,148,413 in 2023.
- Expenses are consistently lower than revenue in recent years, indicating financial stability (e.g., 2023 expenses $1,764,684 vs. revenue $2,021,508).
Frequently Asked Questions about Challenge Unlimited Inc
Is Challenge Unlimited Inc a legitimate charity?
Challenge Unlimited Inc (EIN: 222478997) is a registered tax-exempt nonprofit based in Massachusetts. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.1M. No red flags identified. 3 strengths noted. Financial health grade: A.
How does Challenge Unlimited Inc spend its money?
Challenge Unlimited Inc directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Challenge Unlimited Inc tax-deductible?
Challenge Unlimited Inc is registered as a tax-exempt nonprofit (EIN: 222478997). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Challenge Unlimited Inc's spending goes to programs?
Challenge Unlimited Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Challenge Unlimited Inc located?
Challenge Unlimited Inc is headquartered in Andover, Massachusetts and files with the IRS under EIN 222478997.
How many years of IRS 990 filings does Challenge Unlimited Inc have?
Challenge Unlimited Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.1M in total revenue.
What does Challenge Unlimited Inc do?
Challenge Unlimited Inc is a nonprofit organization in the Unknown sector, located in Andover, Massachusetts. It is classified under NTEE code Unknown.
How much revenue does Challenge Unlimited Inc have?
Challenge Unlimited Inc reported total revenue of $2,066,628. Based on 13 IRS 990 filings on record.
What are Challenge Unlimited Inc's total assets?
Challenge Unlimited Inc holds total assets of $6,212,904 as reported in IRS 990 filings.
Where is Challenge Unlimited Inc located?
Challenge Unlimited Inc is based in Andover, Massachusetts.
What is Challenge Unlimited Inc's EIN?
Challenge Unlimited Inc's Employer Identification Number (EIN) is 222478997. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Challenge Unlimited Inc?
Challenge Unlimited Inc is classified under NTEE code Unknown (Unknown).
Is Challenge Unlimited Inc a registered 501(c)(3)?
Challenge Unlimited Inc appears in IRS records (EIN: 222478997). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Challenge Unlimited Inc file IRS Form 990?
Yes, Challenge Unlimited Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Challenge Unlimited Inc's revenue in 2023?
In the 202312 filing period, Challenge Unlimited Inc reported total revenue of $2,021,508, total expenses of $1,764,684, and net assets of $6,148,413.
Is Challenge Unlimited Inc's revenue growing or declining?
Challenge Unlimited Inc's revenue is growing. Revenue went from $1,813,034 (202212) to $2,021,508 (202312), a +11.5% change. Based on 13 filings on record.
What is Challenge Unlimited Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Challenge Unlimited Inc covers tax period 202312. It shows revenue of $2,021,508, expenses of $1,764,684, total assets of $6,148,413, and liabilities of $1,567,448.
How much does Challenge Unlimited Inc spend on programs vs administration?
Based on IRS 990 analysis, Challenge Unlimited Inc allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Challenge Unlimited Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Challenge Unlimited Inc appears trustworthy. Mission Score: 75/100 (Good). No red flags identified. 3 strengths noted.
What are Challenge Unlimited Inc's strengths?
Positive indicators for Challenge Unlimited Inc include: Consistent revenue generation, with 2023 revenue at $2,021,508.. Strong and growing asset base, reaching $6,148,413 in 2023.. Expenses are consistently lower than revenue in recent years, indicating financial stability (e.g., 2023 expenses $1,764,684 vs. revenue $2,021,508).. These findings are derived from AI analysis of the organization's financial filings.
How does Challenge Unlimited Inc compensate executives?
Executive compensation cannot be assessed from the provided data, as specific figures for individual salaries are not included in the summary financial filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What is the primary source of Challenge Unlimited Inc.'s revenue, and how has it diversified over time?
The provided data only shows total revenue figures. To understand the primary sources and any diversification, a detailed review of their IRS Form 990, specifically Schedule A and Schedule B, would be necessary.
Given the consistent asset growth, what is the organization's strategy for utilizing these assets to further its mission?
While assets have grown from $5,282,115 in 2017 to $6,148,413 in 2023, the summary data does not detail how these assets are deployed. Further analysis of their balance sheet and program reports would be needed to understand their asset utilization strategy.
Filing History
IRS 990 filing history for Challenge Unlimited Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Challenge Unlimited Inc's revenue has grown by 77.9%, moving from $1.1M to $2.0M. Total assets increased by 43.7% over the same period, from $4.3M to $6.1M. Total functional expenses rose by 59.1%, from $1.1M to $1.8M. In its most recent filing year (2023), Challenge Unlimited Inc reported a surplus of $257K, with revenue exceeding expenses. The organization holds $1.6M in liabilities against $6.1M in assets (debt-to-asset ratio: 25.5%), resulting in net assets of $4.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.0M | $1.8M | $6.1M | $1.6M | — | — |
| 2022 | $1.8M | $1.7M | $5.9M | $1.6M | — | View 990 |
| 2021 | $1.4M | $1.3M | $5.5M | $1.3M | — | View 990 |
| 2020 | $1.2M | $1.3M | $5.3M | $1.5M | — | — |
| 2019 | $1.8M | $1.5M | $5.5M | $1.6M | — | View 990 |
| 2018 | $1.8M | $1.4M | $5.5M | $2.0M | — | View 990 |
| 2017 | $1.4M | $1.4M | $5.3M | $2.2M | — | View 990 |
| 2016 | $1.4M | $1.4M | $5.3M | $2.2M | — | View 990 |
| 2015 | $1.3M | $1.5M | $5.3M | $2.2M | — | View 990 |
| 2014 | $1.9M | $1.3M | $5.7M | $2.3M | — | View 990 |
| 2013 | $2.1M | $1.2M | $5.1M | $2.4M | — | View 990 |
| 2012 | $1.2M | $1.1M | $4.3M | $2.4M | — | View 990 |
| 2011 | $1.1M | $1.1M | $4.3M | $2.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.0M, expenses of $1.8M, and assets of $6.1M (revenue +11.5% year-over-year).
- 2022: Revenue of $1.8M, expenses of $1.7M, and assets of $5.9M (revenue +30.0% year-over-year).
- 2021: Revenue of $1.4M, expenses of $1.3M, and assets of $5.5M (revenue +15.3% year-over-year).
- 2020: Revenue of $1.2M, expenses of $1.3M, and assets of $5.3M (revenue -33.8% year-over-year).
- 2019: Revenue of $1.8M, expenses of $1.5M, and assets of $5.5M (revenue +0.6% year-over-year).
- 2018: Revenue of $1.8M, expenses of $1.4M, and assets of $5.5M (revenue +26.8% year-over-year).
- 2017: Revenue of $1.4M, expenses of $1.4M, and assets of $5.3M (revenue +1.8% year-over-year).
- 2016: Revenue of $1.4M, expenses of $1.4M, and assets of $5.3M (revenue +11.4% year-over-year).
- 2015: Revenue of $1.3M, expenses of $1.5M, and assets of $5.3M (revenue -35.0% year-over-year).
- 2014: Revenue of $1.9M, expenses of $1.3M, and assets of $5.7M (revenue -5.9% year-over-year).
- 2013: Revenue of $2.1M, expenses of $1.2M, and assets of $5.1M (revenue +72.1% year-over-year).
- 2012: Revenue of $1.2M, expenses of $1.1M, and assets of $4.3M (revenue +5.7% year-over-year).
- 2011: Revenue of $1.1M, expenses of $1.1M, and assets of $4.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Challenge Unlimited Inc:
Data Sources and Methodology
This transparency report for Challenge Unlimited 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.