Chime Healthcare Innovation Trust

Nonprofit profile at a glance

EIN
811521342
IRS 990 coverage
2020–2021
Forms available
Form 990 2021
Location
Ann Arbor, MI, USA
Phone
7346650000
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Support N.E.C.

Official website

Reported finances

Revenue
$100
Expenses
$62,537
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • RUSSELL BRANZELL (PRESIDENT & CEO)

Highest reported compensation

  • RUSSELL BRANZELL (PRESIDENT & CEO): $798,663 total reported compensation
  • KEITH FRAIDENBURG (EVP & COO): $414,395 total reported compensation
  • EDWIN P CZOPEK (EVP & CFO): $330,035 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Improve the field of healthcare information technology for the advancement of the public good; fund various programs, offerings and standard setting initiatives that enhance marketplace efficiencies for healthcare, including supporting implementation activities in furtherance thereof; and otherwise, operate solely and exclusively as a charitable, social, benevolent and educational organization.

What it reported doing in 2021

The chime opioid task force will engage the committed and collective leadership of our organization to identify and take deliberate actions to avert the increasing addiction and growing mortality of the opioid crisis. These actions will include creating awareness, publicizing leading healthcare practices, providing data for medical research, policy advocacy and leveraging our leadership talent in unique and powerful ways.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 67
  • Accountability: 70
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 84.9%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 80%; rating input score 80; 25th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -62,437%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -30% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: -197.4% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 84.9% of spending went to programs
  • Governance: 4 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $53K in reported program spending
  • Leadership: top reported pay $799K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 2 filing years from 2020 to 2021
  • Contacts: How to reach this organization
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.