Chessmates Inc

Analysis

Chessmates Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 2011, 15 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 December 2023, Chessmates Inc reported income of $146k and spending of $101k, leaving 31% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $208k to $146k (-30%), an average of -8.5% a year. The sharpest change came in the year to December 2022, when income rose by 136%. Over the whole period it spent 76% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Chessmates Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 45th percentile within NY. Charities of a similar size with the same main cause include Promised Land Outdoors ($146k), Staten Island United Federation Baseball League Inc ($146k) and Trussville Youth Cheerleading Association ($146k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $373k against liabilities of $5,363, net assets of $368k.