Chip Inc
Chip Inc: Financial Volatility and Lack of Mission Clarity
EIN: 222632040 · Newcastle, ME · Updated: 2026-04-04
About Chip Inc
Chip Inc (EIN: 222632040) is a nonprofit organization based in Newcastle, ME. The organization reported total revenue of $404K and total assets of $571K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Chip Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Chip Inc with a Mission Score of 30 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Chip Inc allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Executive Compensation Analysis
Executive compensation cannot be assessed as no compensation figures are reported in the available filings.
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 Chip Inc's IRS 990 filings:
- 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
The following positive indicators were identified for Chip Inc:
- Consistent asset base over several years, suggesting some financial stability despite operational losses.
Frequently Asked Questions about Chip Inc
What does Chip Inc do?
Chip Inc is a nonprofit organization in the Unknown sector, located in Newcastle, Maine. It is classified under NTEE code Unknown.
How much revenue does Chip Inc have?
Chip Inc reported total revenue of $403,570. Based on 13 IRS 990 filings on record.
What are Chip Inc's total assets?
Chip Inc holds total assets of $571,406 as reported in IRS 990 filings.
Where is Chip Inc located?
Chip Inc is based in Newcastle, Maine.
What is Chip Inc's EIN?
Chip Inc's Employer Identification Number (EIN) is 222632040. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Chip Inc?
Chip Inc is classified under NTEE code Unknown (Unknown).
Is Chip Inc a registered 501(c)(3)?
Chip Inc appears in IRS records (EIN: 222632040). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Chip Inc file IRS Form 990?
Yes, Chip Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Chip Inc's revenue in 2023?
In the 202312 filing period, Chip Inc reported total revenue of $387,293, total expenses of $256,781, and net assets of $500,028.
Is Chip Inc's revenue growing or declining?
Chip Inc's revenue is growing. Revenue went from $285,132 (202212) to $387,293 (202312), a +35.8% change. Based on 13 filings on record.
What is Chip Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Chip Inc covers tax period 202312. It shows revenue of $387,293, expenses of $256,781, total assets of $500,028, and liabilities of N/A.
Is Chip Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Chip Inc has notable concerns. Mission Score: 30/100 (Poor). 4 red flags identified. 1 strength noted.
What are the red flags for Chip Inc?
The following concerns were identified: 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).. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Chip Inc's strengths?
Positive indicators for Chip Inc include: Consistent asset base over several years, suggesting some financial stability despite operational losses.. These findings are derived from AI analysis of the organization's financial filings.
How does Chip Inc compensate executives?
Executive compensation cannot be assessed as no compensation figures are reported in the available filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 in program expenses across multiple years, what is the actual charitable purpose or activity of Chip Inc?
The provided data does not offer any insight into the organization's mission or activities, making it impossible to determine its charitable purpose given the lack of program expenses.
How does Chip Inc sustain operations with zero reported program expenses and fluctuating revenues, and what are the primary drivers of its administrative costs?
Without detailed expense breakdowns beyond total expenses, it's unclear how operations are sustained or what constitutes the administrative costs, especially in the absence of program activities. The organization appears to be primarily an administrative entity based on the filings.
Filing History
IRS 990 filing history for Chip Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Chip Inc's revenue has grown by 220.3%, moving from $121K to $387K. Total assets increased by 528.5% over the same period, from $80K to $500K. Total functional expenses rose by 139.5%, from $107K to $257K. In its most recent filing year (2023), Chip Inc reported a surplus of $131K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $387K | $257K | $500K | $0 | — | View 990 |
| 2022 | $285K | $396K | $370K | $0 | — | — |
| 2021 | $307K | $287K | $480K | $0 | — | — |
| 2020 | $220K | $176K | $461K | $0 | — | View 990 |
| 2019 | $178K | $177K | $417K | $0 | — | View 990 |
| 2018 | $189K | $200K | $416K | $0 | — | View 990 |
| 2017 | $218K | $218K | $427K | $0 | — | View 990 |
| 2016 | $142K | $192K | $427K | $0 | — | View 990 |
| 2015 | $145K | $158K | $477K | $0 | — | View 990 |
| 2014 | $140K | $183K | $489K | $0 | — | View 990 |
| 2013 | $132K | $131K | $533K | $0 | — | View 990 |
| 2012 | $108K | $112K | $75K | $0 | — | View 990 |
| 2011 | $121K | $107K | $80K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $387K, expenses of $257K, and assets of $500K (revenue +35.8% year-over-year).
- 2022: Revenue of $285K, expenses of $396K, and assets of $370K (revenue -7.1% year-over-year).
- 2021: Revenue of $307K, expenses of $287K, and assets of $480K (revenue +39.7% year-over-year).
- 2020: Revenue of $220K, expenses of $176K, and assets of $461K (revenue +23.6% year-over-year).
- 2019: Revenue of $178K, expenses of $177K, and assets of $417K (revenue -6.0% year-over-year).
- 2018: Revenue of $189K, expenses of $200K, and assets of $416K (revenue -13.3% year-over-year).
- 2017: Revenue of $218K, expenses of $218K, and assets of $427K (revenue +53.6% year-over-year).
- 2016: Revenue of $142K, expenses of $192K, and assets of $427K (revenue -2.3% year-over-year).
- 2015: Revenue of $145K, expenses of $158K, and assets of $477K (revenue +4.0% year-over-year).
- 2014: Revenue of $140K, expenses of $183K, and assets of $489K (revenue +5.7% year-over-year).
- 2013: Revenue of $132K, expenses of $131K, and assets of $533K (revenue +23.0% year-over-year).
- 2012: Revenue of $108K, expenses of $112K, and assets of $75K (revenue -11.1% year-over-year).
- 2011: Revenue of $121K, expenses of $107K, and assets of $80K.
Data Sources and Methodology
This transparency report for Chip 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.