Chessie Foundation Inc
Chessie Foundation Inc. consistently spends more than it earns, drawing down significant assets.
EIN: 204710139 · Chevy Chase, MD · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.4M |
| Total Expenses | $582K |
| Program Spending | 70% |
| Net Assets | $2.4M |
| Transparency Score | 45/100 |
Is Chessie Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Chessie Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Chessie Foundation Inc
Chessie Foundation Inc (EIN: 204710139) is a nonprofit organization based in Chevy Chase, MD, classified under NTEE code T20. The organization reported total revenue of $1.4M and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Chessie Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Chessie Foundation Inc is a mid-size nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -5.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $98K |
| Total Expenses | $582K |
| Surplus / Deficit | $-484,139 |
| Total Assets | $2.4M |
| Total Liabilities | $1 |
| Net Assets | $2.4M |
| Operating Margin | -492.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 49.3 months |
Financial Health Grade: B
In 2023, Chessie Foundation Inc reported a deficit of $484K with expenses exceeding revenue, holds 49.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Chessie Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -5.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +31.3% | +58.0% | -16.9% |
| 2022 | +219.9% | -22.2% | -9.3% |
| 2021 | -97.6% | +243.3% | -12.4% |
| 2020 | +392.2% | +107.9% | +30.8% |
| 2019 | +7.0% | -87.1% | -7.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Chessie Foundation Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Chessie Foundation Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $484K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
No officer compensation has been reported in any of the available filings, suggesting a volunteer-led organization or that compensation is categorized differently, which could obscure the true cost of leadership relative to the organization's size and declining revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Chessie Foundation Inc's IRS 990 filings:
- Consistent and significant operating deficits (e.g., 2023 expenses $582,447 vs. revenue $98,308).
- Steady decline in assets over recent years (from $3.6M in 2020 to $2.3M in 2023).
- Unusual and consistent reporting of $1 in liabilities across multiple years.
- Lack of reported officer compensation, which could obscure true leadership costs.
Strengths
The following positive indicators were identified for Chessie Foundation Inc:
- Maintains a substantial asset base ($2,391,484 in 2023) despite operating deficits.
- Historically low liabilities, consistently reported as $1.
Frequently Asked Questions about Chessie Foundation Inc
Is Chessie Foundation Inc a legitimate charity?
Chessie Foundation Inc (EIN: 204710139) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 45/100. It has 10 years of IRS 990 filings on record. Total revenue: $1.4M. 4 red flags identified. 2 strengths noted. Financial health grade: B.
How does Chessie Foundation Inc spend its money?
Chessie Foundation Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Chessie Foundation Inc tax-deductible?
Chessie Foundation Inc is registered as a tax-exempt nonprofit (EIN: 204710139). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Chessie Foundation Inc's spending goes to programs?
Chessie Foundation Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Chessie Foundation Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Chessie Foundation Inc is near average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Chessie Foundation Inc located?
Chessie Foundation Inc is headquartered in Chevy Chase, Maryland and files with the IRS under EIN 204710139. It is classified under NTEE code T20.
How many years of IRS 990 filings does Chessie Foundation Inc have?
Chessie Foundation Inc has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.4M in total revenue.
How does Chessie Foundation Inc. sustain its operations with consistent revenue shortfalls?
The organization appears to be sustaining operations by drawing down its significant asset base, which has decreased from $3,620,600 in 2020 to $2,391,484 in 2023, as revenue consistently falls short of expenses.
What is the nature of the 'Liabilities=$1' reported across multiple years?
The consistent reporting of $1 in liabilities is highly unusual and could indicate a reporting anomaly, a specific type of accounting practice, or a lack of significant financial obligations, but it warrants clarification for full financial transparency.
What are the primary program activities funded by Chessie Foundation Inc. given its NTEE code T20 (Philanthropy, Voluntarism & Grantmaking Foundations)?
As a grantmaking foundation, its primary program activities would involve making grants to other organizations or individuals. The financial data suggests significant grantmaking or program expenses, even as revenue declines.
Is the lack of reported officer compensation a sign of efficiency or a lack of transparency?
While it could indicate a volunteer-led model, without further detail, it could also suggest that compensation is embedded within other expense categories, potentially reducing transparency regarding leadership costs.
Filing History
IRS 990 filing history for Chessie Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Chessie Foundation Inc's revenue has declined by 51.9%, moving from $204K to $98K. Total assets decreased by 32.6% over the same period, from $3.5M to $2.4M. Total functional expenses rose by 174.9%, from $212K to $582K. In its most recent filing year (2023), Chessie Foundation Inc reported a deficit of $484K, with expenses exceeding revenue. The organization holds $1 in liabilities against $2.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $98K | $582K | $2.4M | $1 | — | View 990 |
| 2022 | $75K | $369K | $2.9M | $1 | — | View 990 |
| 2021 | $23K | $474K | $3.2M | $1 | — | — |
| 2020 | $986K | $138K | $3.6M | $1 | — | View 990 |
| 2019 | $200K | $66K | $2.8M | $1 | — | View 990 |
| 2015 | $187K | $513K | $3.0M | $1 | — | View 990 |
| 2014 | $175K | $255K | $3.3M | $1 | — | View 990 |
| 2013 | $130K | $268K | $3.4M | $1 | — | View 990 |
| 2012 | $181K | $206K | $3.5M | $1 | — | View 990 |
| 2011 | $204K | $212K | $3.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $98K, expenses of $582K, and assets of $2.4M (revenue +31.3% year-over-year).
- 2022: Revenue of $75K, expenses of $369K, and assets of $2.9M (revenue +219.9% year-over-year).
- 2021: Revenue of $23K, expenses of $474K, and assets of $3.2M (revenue -97.6% year-over-year).
- 2020: Revenue of $986K, expenses of $138K, and assets of $3.6M (revenue +392.2% year-over-year).
- 2019: Revenue of $200K, expenses of $66K, and assets of $2.8M (revenue +7.0% year-over-year).
- 2015: Revenue of $187K, expenses of $513K, and assets of $3.0M (revenue +7.0% year-over-year).
- 2014: Revenue of $175K, expenses of $255K, and assets of $3.3M (revenue +34.9% year-over-year).
- 2013: Revenue of $130K, expenses of $268K, and assets of $3.4M (revenue -28.4% year-over-year).
- 2012: Revenue of $181K, expenses of $206K, and assets of $3.5M (revenue -11.3% year-over-year).
- 2011: Revenue of $204K, expenses of $212K, and assets of $3.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Chessie Foundation Inc:
Data Sources and Methodology
This transparency report for Chessie Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.