Let 1 ≤ m ≤ n. We prove various results about the chessboard complex M m, n , which is the simplicial complex of matchings in the complete bipartite graph K m, n . First, we demonstrate that there is nonvanishing 3-torsion inH d (M m, n ; Z) whenever m+n−4 3 ≤ d ≤ m−4 and whenever 6 ≤ m < n and d = m − 3. Combining this result with theorems due to Friedman and Hanlon and to Shareshian and Wachs, we characterize all triples (m, n, d) satisfying H d (M m, n ; Z) = 0. Second, for each k ≥ 0, we show that there is a polynomial f k (a, b) of degree 3k such that the dimension ofH k+a+2b−2 M k+a+3b−1, k+2a+3b−1 ; Z 3 , viewed as a vector space over Z 3 , is at most f k (a, b) for all a ≥ 0 and b ≥ k + 2. Third, we give a computer-free proof thatH 2 M 5, 5 ; Z ∼ = Z 3 . Several proofs are based on a new long exact sequence relating the homology of a certain subcomplex of M m, n to the homology of M m−2, n−1 and M m−2, n−3 .