Progress with Chess INC EIN 34-1961748

Progress with Chess INC FY2023 filing

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Teaches chess to youth, boosting confidence and problem-solving skills through diverse social interaction. For fiscal year 2023 it reported $717K in revenue, $597K in expenses, and $369K in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Cleveland, OH
Website
www.progresswithchess.com
Filings
5 on file (2020–2023)
Revenue
$717KFY2023
Expenses
$597K
Net assets
$369K
People
9
Filings
5
Updates
0
More identity details & actions ⌄
EIN  34-1961748 Public charity (501(c)(3)) Cleveland, OH
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Teaches chess to youth, boosting confidence and problem-solving skills through diverse social interaction.
Leadership
Michael Joelson · President · $63K
Money in and out
$717K revenue, $597K expenses
Bottom line
78% program efficiency
Where the money goes · FY2023
Total revenue
$717K
Pt VIII · Ln 12
Total expenses
$597K
Pt IX · Ln 25
Net assets
$369K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $120K
Where spending went · Part IX cols B–D
Program services $0.78 Management & general $0.22 Fundraising $0.01
Program efficiency
78%
of spending reaches programs
Operating runway
7.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+17%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$717K
FY2023▲ +27%
Expenses
$597K
FY2023▲ +37%
Total assets
$394K
FY2023▲ +51%
Total liabilities
$25K
FY2023▲ +103%
Total revenue
$717K
Pt VIII · Ln 12
Total expenses
$597K
Pt IX · Ln 25
Net assets
$369K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$120K
Total assetsPt X · Ln 16$394K
Program-expense ratioPt IX · col B78%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46
Mission & Programs · Part III

Where the work happens

3 program services account for $463K of program spending, described in the organization's own filed words · FY2023.
01

Provide students in area schools with intruction and supervised practice in playing chess Approximentley 2,500 students partcipate.

$283Kprogram expense
02

Organize county wide chess tournaments for students, approxmatley 980 students attend. We offer free partication in our tournaments and free US chess Federation memberships to 132 low income students. We introduced hundreds of area youth to US Chess Federation rated tournament play.

$139Kprogram expense
03

Organized summer day camps with instruction and supervised practice in chess, approximately 300 students participate.

$41Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProgress with Chess INC
EINHdr · item D34-1961748
Principal addressHdr · item CCleveland, OH
WebsiteHdr · item Jwww.progresswithchess.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B90)
Ruling yearIRS BMFFeb 2002

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$62,667Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A

Michael Joelson’s $63K as President is at the 55th percentile of top reported officer pay among 1616 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2022FY2021FY2020
Michael Joelson$62,667$54,000$54,000$51,750

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Program service revenue$690K · 96%
Contributions & grants$23K · 3%
Program service revenue96%$690K
Contributions & grants3%$23K
Investment income$3K
Total revenueLn 12$717K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.78 Management & general $0.22 Fundraising $0.01
Program services78%$463K
Management & general22%$129K
Fundraising1%$4K
Total functional expensesLn 25$597K

Balance Sheet

Part X · end of year
CashLn 1$355K
Total assetsLn 16$394K
Total liabilitiesLn 26$25K
Total net assetsLn 32$369K
Months of cash on handcomputed7.1

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $355K · Operating expenses/yr $597K
7.1 months
Where the money goes
Program services
Program services $463K · Total expenses $597K
78%
Management & General
Management & general $129K · Total expenses $597K
22%
Fundraising
Fundraising $4K · Total expenses $597K
0.7%
Cost to raise $1
Fundraising expense (3-yr avg) $30K · Solicited contributions (3-yr avg) $25K
$1.23 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $23K · Total revenue $717K
3%
Government reliance
Government grants — · Total revenue $717K
Earned-income share
Program service revenue $690K · Total revenue $717K
96%
Investment reliance
Investment income $3K · Total revenue $717K
+0.5%
Program self-sufficiency
Program service revenue $690K · Total expenses $597K
116%
Growth & trend
Revenue growth (YoY)
This year $717K · Prior year $562K
+27%
Net-asset trend (YoY)
End of year $369K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $717K · Expenses $597K
+17%
Liabilities-to-Assets
Total liabilities — · Total assets $394K
Net-asset ratio
Net assets $369K · Total assets $394K
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $394K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Michael Joelson · Reported title President · Highest reported compensation $63K · Total expenses $597K
10%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $182K · Total expenses $597K
30%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 78%
Overhead ratio 22%
Fundraising cost ratio 19%
Revenue growth 27%
Accounting fee ratio 1.0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$6K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$609K revenue · ⤓ 990 PDF
FY2023$717K revenue · viewing · ⤓ 990 PDF
FY2022$562K revenue · ⤓ 990 PDF
FY2021$419K revenue · ⤓ 990 PDF
FY2020$274K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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