Quick charity verification for Chip Inc (EIN: 222632040)
Verdict: Chip Inc has notable concerns
30/100Mission Score
$404KRevenue
$571KAssets
4Red Flags
1Strengths
Red Flags
Zero reported program expenses in 2023 ($0), 2022 ($0), and 2021 ($0), raising questions about charitable activities.
Significant negative net income in 2022 (revenue $285,132 vs. expenses $396,080).
No information on the nature of the organization's activities or mission in the provided data.
Unexplained large fluctuations in total assets year-over-year (e.g., $369,516 in 2022 to $500,028 in 2023).
Strengths
Consistent asset base over several years, suggesting some financial stability despite operational losses.
Spending Breakdown
How Chip Inc allocates its funds across programs, administration, and fundraising.
0%
Program Spending
Concerning — less than half to programs
100%
Admin Costs
High — over 25% on administration
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Chip Inc
Is Chip Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Chip Inc (EIN: 222632040) has notable concerns. Mission Score: 30/100. 4 red flags identified, 1 strength noted.
Is Chip Inc a good charity to donate to?
Chip Inc has a Mission Score of 30/100. Revenue: $404K. Assets: $571K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Chip Inc?
The Employer Identification Number (EIN) for Chip Inc is 222632040. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Chip Inc spend its money?
Chip Inc allocates 0% to programs, 100% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Chip Inc's tax-exempt status?
You can verify Chip Inc's tax-exempt status using EIN 222632040 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Chip Inc is a unknown nonprofit based in Newcastle, Maine, with reported revenue of $404K and assets of $571K. Our AI analysis assigns a Mission Score of 30/100 (Poor). Executive compensation cannot be assessed as no compensation figures are reported in the available filings. Revenue has grown +220% across 13 filing periods.