Kasparov Chess Foundation Inc
- Assets
- $10.0m
- Revenue
- $1.7m
- Investments
- $9.3m
- Employees
- 1
- Location
- Montville, NJ
- Founding
- 09/2018
- Data as of
- 12/2023
- 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 12/2023, Kasparov Chess Foundation Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. 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
2023
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 |
|---|---|---|---|
Garry Kasparov Chairman & President | Officer | 2 | $0 |
Michael Khodarkovsky Executive Director | Officer | 40 | $230,000 |
Stanley Druckenmiller Trustee | Trustee | 2 | $0 |
J Christopher Flowers Trustee | Trustee | 2 | $0 |
Francisco Alfaro Trustee | Trustee | 2 | $0 |
Hugh Verrier Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Smsi Inc Chess Program Services | 12/30/23 | $188,000 |
Alekszandr Csernyin Chess Training | 12/30/23 | $140,100 |
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 | $1,003,387 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,003,387 |
| Total Program Service Revenue | $0 |
| Investment income | $444,849 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $202,747 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,650,983 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $16,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $275,800 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $230,000 |
| Compensation of current officers, directors, key employees. | $80,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,555 |
| Fees for services: Management | $18,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,411 |
| Advertising and promotion | $0 |
| Office expenses | $4,496 |
| 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 | $7,022 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,785 |
| All other expenses | $0 |
| Total functional expenses | $1,132,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $188,953 |
| Savings and temporary cash investments | $485,964 |
| Pledges and grants receivable | $0 |
| 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 | $9,301,384 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,976,301 |
| Accounts payable and accrued expenses | $103,250 |
| 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 | $103,250 |
| Net assets without donor restrictions | $9,206,110 |
| Net assets with donor restrictions | $666,941 |
| 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 | $9,976,301 |