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Nonprofit · EIN 86-3477107

GIFT OF CHESS INC

Tax-exempt · NEW YORK, NY 10036

Financials

$307K$273K2023$428K$403K2024
Revenue Expenses · by fiscal year end
Financials of GIFT OF CHESS INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$428,196$402,850$25,346$25,370$24$25,346
December 31, 2023990$307,182$272,803$34,379$48,576$0$48,576
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$428,196
Program service revenue
$0
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$398,650
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Accounting fees
$1,000
Program services (functional)
$399,929
Management and general (functional)
$2,921

Balance sheet and other

Total assets, start of year
$48,576
Total assets, end of year
$25,370
Total liabilities, end of year
$24
Net assets, end of year
$25,346
Net assets without donor restrictions
$25,346
Gross receipts
$428,196
Employees
0
Year formed
2021
State of legal domicile
NY

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
RUSSELL MAKOFSKYPRESIDENT
Officer
40$0
IAN WESTSECRETARY
Officer
15$0
TYRONE DAVISTREASURER
Officer
15$0
ROCHELLE BALLANTYNEBOARD MEMBER
Officer
10$0
MICHAEL SHUMANBOARD MEMBER
Officer
10$0
RYAN RODRIGUEZBOARD MEMBER
Officer
10$0
990 for the year ended December 31, 2023: 6 people
NameTitleHours / weekCompensation
ROCHELLE BALLANTYNEBOARD MEMBER
Officer
10$0
MICHAEL SHUMANBOARD MEMBER
Officer
10$0
RYAN RODRIGUEZBOARD MEMBER
Officer
10$0
RUSSELL MAKOFSKYPRESIDENT
Officer
40$0
IAN WESTSECRETARY
Officer
15$0
TYRONE DAVISTREASURER
Officer
15$0

Address and contacts

Address (IRS master file)
308 W 46TH ST, NEW YORK, NY 10036-3801
In care of
% RUSSELL MAKOFSKY
Signed the 990
RUSSELL MAKOFSKY, PRESIDENT
Phone
(914) 231-9000
Return prepared by
Fernando J Rodriguez CPA PC

Mission

DISTRIBUTING CHESS SETS TO GENERAL PUBLIC AND STUDENTS ACROSS NEW YORK CITY AND GLOBALLY.

990 for the year ended December 31, 2024

Program accomplishments

  • PURCHSED CHESS SETS WITH DONATIONS AND FUNDS RAISED FROM MEMBERS OF THE LOCAL CHESS COMMUNITY. ALL SETS WERE DISTRIBUTED TO MANHATAN AND BROOKLYN PUBLIC SCHOOLS.
    Expenses $399,929
  • THE ORGANIZATION HAS VARIOUS OUTREACH INITIATIVES, WHICH INCLUDE EDUCATION, PRISON, AND REFUGEE OUTREACH IN THE UNITED STATES AS WELL AS GLOBALLY. EACH PARTNER COUNTRY HAS AN ASSIGNED EMBASSADOR WHO IS LEADING OUR MIRO DISTRIBUTION EFFORTS ACROSS SCHOOLS, ORPHANAGES, PRISIONS, REFUGEE CAMPS, COMMUNITY CENTERS AND CHESS CLUBS. TO DATE THE ORGANIZATION HAS PRODUCED OVER 75,000 CHESS SETS FOR GLOBAL DISTRIBUTION. THOSE CHESS SETS HAVE BEEN DONATED TO NEARLY 30 COUNTRIES.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
86-3477107
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2021
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B90)
Assets (IRS master file)
$25,370
Income (IRS master file)
$428,196

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$428,196$402,850$25,370XML
990December 2023$307,182$272,803$48,576XML
990-EZDecember 2022–––IRS
990-EZDecember 2021–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 86-3477107).

Questions about GIFT OF CHESS INC

What is the EIN of GIFT OF CHESS INC?
The employer identification number (EIN) of GIFT OF CHESS INC is 86-3477107.
Is GIFT OF CHESS INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
Are donations to GIFT OF CHESS INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does GIFT OF CHESS INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of GIFT OF CHESS INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did GIFT OF CHESS INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who are the officers and directors of GIFT OF CHESS INC?
The 990 for the year ended December 31, 2024 lists 6 people; 0 received compensation from the organization.
How much revenue does GIFT OF CHESS INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $428,196, expenses of $402,850 and total assets of $25,370 at year end.

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