Kasparov Chess Foundation Inc
- Assets
- $7.6m
- Revenue
- $1.7m
- Investments
- $6.6m
- Employees
- 1
- Location
- Montville, NJ
- Founding
- 09/2018
- Data as of
- 12/2021
- EIN
- 47-0870553
Organization Overview
Kasparov Chess Foundation Inc is located in Montville, NJ. The organization was established in 2018. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kasparov Chess Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Kasparov Chess Foundation Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $920.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF THE SPORT OF CHESS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE SPORT OF CHESS BY PROVIDING CHESS PROGRAMS TO YOUTHS; AND TO FURTHER THE EDUCATION OF THE SPORT OF CHESS BY PROVIDING GENERAL INSTRUCTION AND TRAINING. THE ORGANIZATION ALSO PROVIDES SPONSORSHIP OF US NATIONAL CHESS TEAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Khodarkovsky Executive Director | Officer | 40 | $190,000 |
Garry Kasparov Chairman & President | Officer | 2 | $0 |
Francisco Alfaro Trustee | Trustee | 2 | $0 |
Hugh Verrier Trustee | Trustee | 2 | $0 |
Stanley Druckenmiller Trustee | Trustee | 2 | $0 |
J Christopher Flowers Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $957,274 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $957,274 |
| Total Program Service Revenue | $14,810 |
| Investment income | -$128,303 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $904,438 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,748,219 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $187,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $190,000 |
| Compensation of current officers, directors, key employees. | $85,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,789 |
| Fees for services: Management | $21,377 |
| Fees for services: Legal | $258 |
| Fees for services: Accounting | $7,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $83,853 |
| Advertising and promotion | $0 |
| Office expenses | $6,749 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,349 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,954 |
| All other expenses | $0 |
| Total functional expenses | $920,155 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,711 |
| Savings and temporary cash investments | $600,816 |
| Pledges and grants receivable | $230,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,629,758 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,558,285 |
| Accounts payable and accrued expenses | $7,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,000 |
| Net assets without donor restrictions | $6,931,175 |
| Net assets with donor restrictions | $620,110 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,558,285 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Kasparov Chess Foundation Inc has recieved totaling $948,000.
| Awarding Organization | Amount |
|---|---|
Chess Club And Scholastic Center Of Saint Louis St Louis, MO PURPOSE: CHESS PROGRAMMING | $900,000 |
J C Flowers Foundation New York, NY PURPOSE: TO SUPPORT THE CHILDREN'S CHESS PROGRAM IN ZAMBIA AND ZIMBABWE | $42,000 |
Renaissance Knights Foundation Wauconda, IL PURPOSE: UNRESTRICTED | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Usta Player Development Incorporated White Plains, NY | $604,131 | $13,893,000 |
United States Equestrian Team Foundation Inc Gladstone, NJ | $30,191,062 | $5,247,335 |
Laureus Sport For Good Foundation Of America New York, NY | $6,727,173 | $4,372,530 |
Far Hills Race Meeting Association Inc Far Hills, NJ | $7,235,904 | $3,433,382 |
Open Squash Inc New York, NY | $5,357,253 | $1,806,431 |
American Platform Tennis Association Inc Pittsburgh, PA | $1,547,528 | $1,984,678 |
New York Yacht Club Regatta Association Inc New York, NY | $782,002 | $1,482,419 |
National Collegiate Rugby Organization Inc Wilmington, DE | $82,012 | $1,426,053 |
Kasparov Chess Foundation Inc Montville, NJ | $7,558,285 | $1,748,219 |
Pittsburgh Elite Volleyball Association Pittsburgh, PA | $538,474 | $1,020,631 |
Aurora Ice Association Inc East Aurora, NY | $3,480,077 | $1,014,399 |
United States Bowling Congress Inc Saylorsburg, PA | $684,968 | $828,660 |