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Nonprofiteer
← KASPAROV CHESS FOUNDATION INC

Form 990 for tax year 2022

Filed by KASPAROV CHESS FOUNDATION INC.

Totals

Total revenue
$2,652,284
Total expenses
$1,009,993
Contributions and grants received
$1,688,649
Grants paid
$238,344
Program service revenue
$401
Investment income
$963,234
Other revenue
$0
Total assets, end of year
$8,961,752
Total liabilities, end of year
$7,750
Net assets or fund balances, end of year
$8,954,002
Program services expenses (Part IX)
$866,442
Management and general expenses
$121,311
Fundraising expenses
$22,240
Program service expenses (Part III)
$866,442

Program services were 85.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,688,649

  • 2a · Program service revenue: PROGRAM FEES

    total $401 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $727,736 · unrelated business $0 · excluded $727,736

  • 7a · Gross sales of assets other than inventory

    securities $235,498

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $235,498

  • 7d · Net gain or loss

    total $235,498 · related or exempt $0 · unrelated business $0 · excluded $235,498

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $40,000 · program services $40,000

  • 3 · Grants to foreign organizations and individuals

    total $198,344 · program services $198,344

  • 5 · Compensation of officers, directors and key employees

    total $210,000 · program services $115,500 · management and general $73,500 · fundraising $21,000

  • 10 · Payroll taxes

    total $12,398 · program services $6,819 · management and general $4,339 · fundraising $1,240

  • 11a · Fees: management

    total $18,000 · program services $0 · management and general $18,000 · fundraising $0

  • 11b · Fees: legal

    total $166 · program services $0 · management and general $166 · fundraising $0

  • 11c · Fees: accounting

    total $7,750 · program services $0 · management and general $7,750 · fundraising $0

  • 11g · Fees: other

    total $83,973 · program services $75,000 · management and general $8,973 · fundraising $0

  • 13 · Office expenses

    total $3,044 · program services $0 · management and general $3,044 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $9,462 · program services $9,462 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $1,833 · program services $0 · management and general $1,833 · fundraising $0

  • 24a · Other expenses: CHESS PROGRAM (TRAINING & CURRICULUM)

    total $407,187 · program services $407,187 · management and general $0 · fundraising $0

  • 24b · Other expenses: TOURNAMENT, TRAINING EXPENSES

    total $14,481 · program services $12,341 · management and general $2,140 · fundraising $0

  • 24c · Other expenses: BOOKS

    total $1,789 · program services $1,789 · management and general $0 · fundraising $0

  • 24d · Other expenses: BANK AND OTHER FEES

    total $1,566 · program services $0 · management and general $1,566 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $97,711 · end of year $404,577

  • 2 · Savings and temporary cash investments

    beginning of year $600,816 · end of year $800,881

  • 3 · Pledges and grants receivable

    beginning of year $230,000 · end of year $2,940

  • 12 · Investments: other securities

    beginning of year $6,629,758 · end of year $7,753,354

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,000 · end of year $7,750

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $6,931,175 · end of year $8,261,989

  • 28 · Net assets with donor restrictions

    beginning of year $620,110 · end of year $692,013

Mission and programs · 2022

Mission

PROMOTION OF THE SPORT OF CHESS

  • 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.

    Expenses $866,442 · Grants $238,344 · Revenue $401

As filed on the 2022 return.

Listed in Part VII

  • GARRY KASPAROV

    CHAIRMAN & PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL KHODARKOVSKY

    EXECUTIVE DIRECTOR

    Total calculated
    $210,000
    From this org
    $210,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $210,000

  • STANLEY DRUCKENMILLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • J CHRISTOPHER FLOWERS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • FRANCISCO ALFARO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • HUGH VERRIER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
17 October 2023
IRS schema version
2022v5.0
Source object
202302909349301315

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