Foundation for Tennessee Chess

Analysis

Foundation for Tennessee Chess is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in September 2019, 7 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Foundation for Tennessee Chess reported income of $395k and spending of $383k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $294k to $395k (+34%), an average of +7.7% a year. The sharpest change came in the year to December 2021, when income rose by 62%. Over the whole period it spent 97% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Foundation for Tennessee Chess sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 68th percentile within TN. Charities of a similar size with the same main cause include Genesis Inc ($395k), Island County Fair Association Inc ($395k) and Mentor Greater Milwaukee Inc ($395k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 78% of the total. Other salaries and wages came to $124k. At year end it held assets of $682k against liabilities of $7,959, net assets of $674k. It reported 3 employees.