Virginia Chess Federation

Analysis

Virginia Chess Federation is a registered charity in United States, based in Yorktown, VA. It received its IRS tax-exemption ruling in June 1993, 33 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Virginia Chess Federation reported income of $81k and spending of $90k, spending 111% of what it took in. Across the 2 years on record, from August 2022 to August 2023, income fell from $105k to $81k (-23%), an average of -23% a year. The sharpest change came in the year to August 2023, when income dropped by 23%. Over the whole period it spent 99% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Virginia Chess Federation sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 31st percentile within VA. Charities of a similar size with the same main cause include Pioneer Rowing Club Inc ($81k), Azteca Teakwondo Federation ($81k) and Dent County Commons Association ($81k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 0.6% and program service revenue 90% of the total. At year end it held assets of $40k against liabilities of $0, net assets of $40k.