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Charlou Foundation FY2023 filing

Tax-deductible

Scottsdale, AZ501(c)(3)Arts & CultureEIN 83-2200839

The primary purpose of the organization shall be to support and benefit the programs and strategic initiatives of the challenge foundation and the challenge foundation arizona INC, both 501(c)(3) entities.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $721K a year · 49% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
+53% vs prior year
Spent
$3.3M
To programs
98%
Net assets
$19.4M
By yearFY2021–FY2025
Revenue
$1.6M
FY2023▲ +53%
Revenue by fiscal year
FY2021−$259K
FY2022$1.1M
FY2023$1.6M
FY2024$3.9M
FY2025$1.0M
Expenses
$3.3M
FY2023▲ ×57
Expenses by fiscal year
FY2021$44K
FY2022$59K
FY2023$3.3M
FY2024$66K
FY2025$262K
Net assets
$19.4M
FY2023▼ -11%
Net assets by fiscal year
FY2021$20.5M
FY2022$21.8M
FY2023$19.4M
FY2024$23.4M
FY2025$24.5M

From the FY2023 Form 990 (year ending May 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $3.3M Management & general 2% · $54K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Janis McFall
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Allen Anderson
Board Member
$0Pt VII · Sec A
Gene Myers
Board Member
$0Pt VII · Sec A
See Charlou Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports programs and strategic initiatives of related foundations.

Provided by the organization

This section is blank until Charlou Foundation claims this page.

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1 program service account for $3.3M of program spending, described in the organization's own filed words · FY2022.
01

The primary purpose of the organization shall be to support and benefit the programs and strategic initiatives of the challenge foundation inc and the challenge foundation arizona inc, both type iii functionally integrated supported 501(c)(3) organizations.

$3.3Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $3.5M · 2022–2024
Challenge Foundation INCCO · FY2024$202,192
Challenge Foundation INCCO · FY2022$3,296,230

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.6M
Ln 12
Investment incomeLn 3$1.2M
Other incomeLn 4–11$436K
Money outPt IX
$3.3M
Ln 25
Programscol B$3.3M
Managementcol C$54K
Owns and owesPt X
$19.4M
net assets · Ln 32
Cash and savingsLn 1–2$915K
Total assetsLn 16$19.4M
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$1.2M
Other incomeLn 4–11$436K
Gains on assetsLn 7$312K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$322K
SavingsLn 2$593K
Cash and savings togetherLn 1–2$915K
InvestmentsLn 11–13$10.9M
Total assetsLn 16$19.4M
LiabilitiesLn 26$0
Net assetsLn 32$19.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.7M$915K
InvestmentsLn 11–13$12.5M$10.9M
Total assetsLn 16$21.8M$19.4M
LiabilitiesLn 26$0$0
Net assetsLn 32$21.8M$19.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$3.3M$3.3M
Accounting feesLn 11c$34K$34K
Investment management feesLn 11f$18K$18K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$195$195
Total functional expensesLn 25$3.3M$3.3M$54K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.0M$262K$764K$24.5M 990 PDF
FY2024 $3.9M$66K$3.8M$23.4M 990 PDF
FY2023 Viewing $1.6M$3.3M−$1.7M$19.4M 990 PDF
FY2022 $1.1M$59K$1.0M$21.8M 990 PDF
FY2021 −$259K$44K−$303K$20.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $1,637,476 across 4 lines filed
VIII-3 Investment incomeExcluded from tax $889,786$889,786
VIII-7 Net gain or loss on sales of assetsExcluded from tax $311,552$311,552
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business −$2,708 · Excluded from tax $438,846$436,138
VIII-12 Total revenueRelated to mission $0 · Unrelated business −$2,708 · Excluded from tax $1,640,184$1,637,476
Part IX · Statement of functional expenses $3,349,966 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $3,296,230$3,296,230
IX-11c Accounting feesManagement $34,450$34,450
IX-11f Investment management feesManagement $18,067$18,067
IX-23 InsuranceManagement $1,024$1,024
IX-24 Other expenses (24a–d)Management $195$195
IX-25 Total functional expensesPrograms $3,296,230 · Management $53,736 · Fundraising $0$3,349,966
Part X · Balance sheet $19,413,894 assets, 10 lines filed
Asset lines not itemized here account for $7,605,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,259,347$322,315
X-2 Savings and temporary cash investmentsStart of year $456,561$592,630
X-11 Publicly traded securitiesStart of year $5,111,663$5,948,198
X-12 Other securitiesStart of year $7,398,890$4,945,751
X-16 Total assetsStart of year $21,781,461$19,413,894
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $18,566,580$19,413,894
X-28 Net assets with donor restrictionsStart of year $3,214,881$0
X-32 Total net assets or fund balancesStart of year $21,781,461$19,413,894
X-33 Total liabilities and net assetsStart of year $21,781,461$19,413,894
Part XI · Reconciliation of net assets $19,413,894 net assets at year end
XI-1 Total revenue$1,637,476
XI-2 Total expenses$3,349,966
XI-3 Revenue less expenses−$1,712,490
XI-4 Net assets at start of year$21,781,461
XI-5 Net unrealized gains (losses) on investments−$655,077
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$19,413,894

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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