Chip of Virginia

Nonprofit profile at a glance

EIN
541683042
IRS 990 coverage
2012–2017
Forms available
Form 990 2017
Location
Richmond, VA, USA
Phone
8047832667
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Children's, Youth Services

Reported finances

Revenue
$326,496
Expenses
$205,813
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • LISA SPECTER-DUNAWAY (PRESIDENT AND CEO)

Highest reported compensation

  • LISA SPECTER-DUNAWAY (PRESIDENT AND CEO): $87,957 total reported compensation
  • LAURA DARLING (COO): $82,890 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Chip of Virginia administers and monitors a network of 7 agencies in 27 Virginia localities who work with low-income families to assure that children from birth to age 6 receive the health care necessary for them to lead healthy lives, enter school ready to learn, and get the best possible start on a bright future. Chip of Virginia provides training and technical assistance, evaluation, quality assurance, public relations and resource development to fulfill our legislative mandate to develop, expand and operate the chip network of public-private partnerships.

What it reported doing in 2017

Chip of Virginia provides healthcare for at-risk children from birth to age six through a relationship with other healthcare agencies in the state of va, by means of healthcare case management and home visits.

Operating model

Revenue model
Grant-funded. 91% of the money available for current operations came from government grants.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the required major-donor schedule is missing or incomplete.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 75
  • Accountability: 82
  • Sustainability: 42
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.9%; rating input score 46
  • Program expense ratio: 72.8%; rating input score 73
  • Fundraising efficiency: $12.98 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: No; rating input score 0
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 37%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 83%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -13.6% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -6.3% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: -0.9% per year; rating input score 0; 31st percentile among comparable filings

Details

  • Where the money goes: 45.9% of revenue deployed · 72.8% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $150K in reported program spending
  • Leadership: top reported pay $88K · 14 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2012 to 2017
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 49/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.