Chips Network Inc
Nonprofit profile at a glance
- EIN
- 461198117
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024
- Location
- Sonoma, CA, USA
- Phone
- 6502608737
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Business and Industry
Reported finances
- Revenue
- $3,304,287
- Expenses
- $2,788,555
- Assets
- $4,261,274
- Liabilities
- $441,813
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- JOAN TOTH (EXECUTIVE DIRECTOR)
Highest reported compensation
- JOAN TOTH (EXECUTIVE DIRECTOR): $249,199 total reported compensation
- BRIDGET JOHNSON (DIRECTOR OF BUSINESS DEVELOPMENT AND PARTNERSHIPS): $184,184 total reported compensation
- VIRGINIA MOORE (DIRECTOR OF EVENTS): $176,622 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Chips network, inc. Advances and connects women in technology, law and policy. We seek to accelerate innovation through diversity of thought, participation and engagement.
What it reported doing in 2024
Chips has more than 9,000 members on 5 continents and 31 global chapters that advance our mission to advance and connect women in technology, law and policy. Our main programs are: global summit, nextgen summit, mock programs, general counsel bootcamp, webinars, and supporting networking and learning programs through our chapters in the u.s., canada, south america, europe, south africa, and australia/new zealand. Our scholarship program funds law school students who demonstrate a commitment to a career in intellectual property law.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 99% 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. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 66
- Transparency & Controls: 83
- Accountability: 91
- Sustainability: 56
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 68.1%; rating input score 68
- Program expense ratio: 78.9%; rating input score 79
- Fundraising efficiency: $5.77 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 15.6%; rating input score 72; 72nd percentile among comparable filings
- Total-asset coverage ratio: 1.53; rating input score 52; 52nd percentile among comparable filings
- Liabilities to assets ratio: 0.1; rating input score 58; 58th percentile among comparable filings
- Officer compensation ratio: 36.6%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: 19.6% per year; rating input score 100; 85th percentile among comparable filings
- Revenue growth: 17.2% per year; rating input score 100; 85th percentile among comparable filings
- Asset growth: 20.1% per year; rating input score 100; 84th percentile among comparable filings
Details
- Where the money goes: 68.1% of revenue deployed · 78.9% of spending went to programs
- Governance: 8 of 8 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $2.2M in reported program spending
- Leadership: top reported pay $249K · 14 people listed · 3 of 6 pay-setting controls reported
- Consistency: 31 of 31 current checks pass
- Schedules: 6 filed schedules · includes major donors, grants, and executive pay
- Filing history: 11 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 21/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Review — Sustainability: Total-asset coverage ratio scored 52/100.
- High — Sustainability: Officer compensation ratio scored 3/100.
- Review — Sustainability: Liabilities to assets ratio scored 58/100.