Chip Inc
- Assets
- $480.5k
- Revenue
- $307.0k
- Investments
- $254.5k
- Employees
- 1
- Location
- Newcastle, ME
- Founding
- 03/1986
- Data as of
- 12/2021
- EIN
- 22-2632040
Organization Overview
Chip Inc is located in Newcastle, ME. The organization was established in 1986. According to its NTEE Classification (S80) the organization is classified as: Community Service Clubs, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chip Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Chip Inc generated $307.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $287.2k during the year ending 12/2021. While expenses have increased by 8.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LOW INCOME SHELTER NEEDS "NEIGHBORS HELPING NEIGHBORS KEEP THEIR HOMES SAFE, WARM AND DRY"
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING AND BASIC SHELTER NEEDS FOR LOW INCOME FAMILIES AND INDIVIDUALS. DURING 2021 222 FAMILIES RECEIVED HEATING FUEL ASSISTANCE AND 80 FAMILIES RECEIVED HOME WEATERIZATION AND REPAIR SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brittany Gill Coordinator | Officer | 8 | $19,378 |
Dru Barkalow Director & President | OfficerTrustee | 4 | $0 |
Susan Glueck Director & Treasurer | OfficerTrustee | 4 | $0 |
Linda Shaffer Director | OfficerTrustee | 1 | $0 |
David Ray Director | OfficerTrustee | 2 | $0 |
Susan Johnson-Moody Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $251,770 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $251,770 |
| Total Program Service Revenue | $0 |
| Investment income | $55,182 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $306,952 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $253,470 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,378 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,695 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,995 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,965 |
| All other expenses | $0 |
| Total functional expenses | $287,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $116,818 |
| Savings and temporary cash investments | $36,384 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $72,753 |
| Investments—other securities | $254,510 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $480,465 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $480,465 |
| Total liabilities and net assets/fund balances | $480,465 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chip Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Charles J And Barbara M Osicka Foundation Inc Palm Desert, CA PURPOSE: CHARITABLE - HOUSING IMPROVEMENT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Concepts Incorporated Lewiston, ME | $17,184,569 | $32,664,997 |
Sexual Assault Prevention And Response Services Auburn, ME | $411,700 | $1,669,996 |
Benevolent & Protective Order Of Elks Of The Usa Rockland, ME | $960,632 | $596,322 |
Benevolent & Protective Order Of Elks Of The Usa Portsmouth, NH | $1,878,576 | $571,334 |
Benevolent & Protective Order Of Elks Of The Usa Augusta, ME | $534,070 | $637,741 |
Benevolent & Protective Order Of Elks Of The Usa Bangor, ME | $1,252,709 | $534,131 |
Benevolent & Protective Order Of Elks Of The Usa Albion, ME | $649,944 | $489,618 |
Benevolent & Protective Order Of Elks Of The Usa Sanford, ME | $987,255 | $470,279 |
Benevolent & Protective Order Of Elks Of The Usa Franklin, NH | $1,468,670 | $936,657 |
Benevolent & Protective Order Of Elks Of The Usa Nashua, NH | $2,118,118 | $396,503 |
Benevolent & Protective Order Of Elks Of The Usa Portland, ME | $1,197,841 | $191,854 |
Chip Inc Newcastle, ME | $480,465 | $306,952 |