U S Chess Trust

Analysis

U S Chess Trust is a registered charity in United States, based in Wallkill, NY. It received its IRS tax-exemption ruling in January 1984, 42 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, U S Chess Trust reported income of $162k and spending of $281k, spending 174% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $354k to $162k (-54%), an average of -18% a year. The sharpest change came in the year to May 2021, when income dropped by 75%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, U S Chess Trust sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within NY. Charities of a similar size with the same main cause include Historical Society of Schuylkill County ($162k), Auxiliary to the Virginia Reach General Hospital ($162k) and Salinas Valley Memorial Hospital Service League ($162k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 71% of the total. At year end it held assets of $1.4m against liabilities of $38k, net assets of $1.4m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.