National Scholastic Chess Foundation Inc
- Assets
- $191.8k
- Revenue
- $544.4k
- Investments
- $0.0
- Employees
- 3
- Location
- White Plains, NY
- Founding
- 10/1991
- Data as of
- 06/2022
- EIN
- 06-1301676
Organization Overview
National Scholastic Chess Foundation Inc is located in White Plains, NY. The organization was established in 1991. According to its NTEE Classification (O99) the organization is classified as: Youth Development N.E.C., under the broad grouping of Youth Development and related organizations. As of 06/2022, National Scholastic Chess Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Scholastic 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 06/2022, National Scholastic Chess Foundation Inc generated $544.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $445.5k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.5%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF NATIONAL SCHOLASTIC CHESS FOUNDATION INC IS TO BRING THE BENEFITS OF A CHESS EDUCATION TO CHILDREN. NSCF PROMOTES THE STUDY OF CHESS AS AN EDUCATIONAL TOOL IN CURRICULAR CLASSES AND ENRICHMENT PROGRAMS FOR ELEMENTARY MIDDLE AND HIGH SCHOOLS. CONTINUED ON SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHESS CLASSES
CHESS TOURNAMENTS
SUMMER CAMPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sunil Weeramantry Executive Director | OfficerTrustee | 30 | $106,780 |
Elisabeth S Harding Director | Trustee | 1 | $0 |
Robert Pusins Director | Trustee | 1 | $0 |
Robert Johnson Director | Trustee | 1 | $0 |
Elizabeth B Korn Director | Trustee | 1 | $0 |
Jay Hack Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $90,138 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $8,427 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $544,429 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $227,563 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,956 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,313 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $129,676 |
| Advertising and promotion | $0 |
| Office expenses | $6,299 |
| Information technology | $3,642 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,322 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,844 |
| All other expenses | $0 |
| Total functional expenses | $445,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,718 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $25,000 |
| Accounts receivable, net | $55,090 |
| 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 | $1,035 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $191,844 |
| Accounts payable and accrued expenses | $5,376 |
| Grants payable | $0 |
| Deferred revenue | $21,550 |
| 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 | $26,926 |
| Net assets without donor restrictions | $164,918 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $164,918 |