Since 2009, the editorial board of the literary magazine for Russian-speaking children Malenkaya Kompaniya, together with the American Council of Teachers of Russian (ACTR), conducts annual Olympiadas of Spoken Russian for heritage speakers. Children from 7 to 17 can take part in the contest (there are various levels depending on the age, whether the child studies Russian at home or at school, and other factors). There are three exam boards: Oral Speech, Reading, and Civilization. Each participant is evaluated by all three boards.
The first Olympiada took place in June 2009, and in April 2018 Malenkaya Kompaniya conducted the tenth Olympiada in New York City. 65 students from four states took part in it. You may see the results of the Tenth Olympiada here.
The Eleventh Olympiada took place on Sunday, April 7, 2019. For the first time it will take place in KidzHOME – House of Multicultural Education.
Rules and materials for the preparation are here (in Russian).