Overview
What is Boylston Chess Foundation Inc?
Boylston Chess Foundation Inc, situated in Cambridge, Massachusetts, is a nonprofit organization that focuses on organizing chess tournaments and scholastic clinics. Their primary aim is to promote chess as an educational and recreational activity, fostering interest in the game. Funds are allocated towards prize money for tournament winners, fees for tournament ratings, credit card processing fees, and reimbursements for volunteers' travel and food expenses. The foundation's activities extend beyond tournaments, offering scholastic clinics for skill development and enjoyment of the game.
Official website here: www.boylstonchess.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 40%, Zero-Star out of Four Star rating.
The Boylston Chess Foundation Inc has received a low rating of 40%, reflecting significant concerns regarding its accountability and financial practices. The organization has shown strengths in having a fully independent board of directors and in maintaining transparency by listing its tax form and meeting minutes on its website. However, critical gaps in governance policies raise red flags, particularly the absence of a conflict of interest policy, whistleblower policy, and procedures for document retention.
Financially, the foundation struggles with a high liabilities to assets ratio of 68.15%, indicating potential financial instability. Moreover, a program expense ratio of only 15.98% suggests that a minimal portion of its funds is directed towards its primary mission, which may limit its impact. Overall, while some structural aspects are positive, the lack of essential policies and low financial efficiency are significant drawbacks that potential donors should consider.
This AI summary has been generated from information found on Charity Navigator.
Is Boylston Chess Foundation Inc legitimate?
Boylston Chess Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Boylston Chess Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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For more financial information, click here
Official website here: www.boylstonchess.org
What is the mission statement of Boylston Chess Foundation Inc?
The Boylston Chess Foundation Inc's mission is centered around organizing chess tournaments and scholastic clinics with an aim to foster education, recreation, and promote an interest in the game of chess. Their activities are geared towards encouraging a wider appreciation for chess. The foundation invests in various expenses such as prize money for tournament winners, fees for tournament ratings, credit card processing fees, and travel and food expenses for volunteers, all in an effort to make these events successful and engaging.
Official website here: www.boylstonchess.org
Who is the CEO of Boylston Chess Foundation Inc?
Andrew Hoy is the President of Boylston Chess Foundation Inc.
Official website here: www.boylstonchess.org
What is the revenue of Boylston Chess Foundation Inc?
Boylston Chess Foundation Inc's revenue in 2021 was $73,366.
Official website here: www.boylstonchess.org
Who are the executives of Boylston Chess Foundation Inc and what are their salaries?
There 15 volunteers at Boylston Chess Foundation Inc.
Here are 11 key members and their salaries:
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Official website here: www.boylstonchess.org
Where can I find the form 990 for Boylston Chess Foundation Inc?
Boylston Chess Foundation Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.boylstonchess.org
Learn more at the official website: www.boylstonchess.org
Mission Statement of Boylston Chess Foundation Inc
The Boylston Chess Foundation Inc is dedicated to organizing chess tournaments and scholastic clinics with the primary goal of fostering education, recreation, and promoting an interest in chess. Through its activities, the organization aims to engage individuals in this strategic game, providing opportunities for both enjoyment and skill development. The foundation's mission involves hosting tournaments, which incur expenses such as prize money for winners, United States Chess Federation ratings, credit card processing fees, and volunteer reimbursements for food and travel.
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Impact
August, 2024
Boylston Chess Foundation Inc's impact lies in its dedication to running chess tournaments and scholastic clinics in order to promote interest in chess. By organizing these events, the foundation not only provides opportunities for education and recreation but also fosters a sense of community among chess enthusiasts. Through its activities, Boylston Chess Foundation Inc contributes to the growth and development of individuals passionate about the game, ultimately enriching the chess-playing experience for people in CAMBRIDGE, MA and beyond.
This information is meant to be a general summary of Boylston Chess Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Investment Income: $21,045
- Program Service Revenue: $27,934
- Gross Receipts: $73,366
Assets and Liabilities:
- Total Assets: $329,336
- Total Liabilities: $1,047
- Net Assets: $328,289
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Chess tournaments
Revenue
$27,234
Rental income for chess/go/backgammon tournaments
Revenue
$700
Organization Details
Founding Year
2005
Phone
(617) 714-3022Principal Officer
Andrew Hoy
Main Address
40 Norris Street Unit B101, Cambridge, MA, 02140
Website
www.boylstonchess.orgNTEE Category
Code: B99 - Education
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