Chime Education Foundation FY2021 filing

Tax-deductible

Ann Arbor, MI501(c)(3)Since 2007Health CareEIN 20-8402295Revenue $172K in FY2021

On file with the IRSchimecentral.org455 E Eisenhower Pkwy Ste 300, 48108-3324 · Ann Arbor, MITax-exempt since Jun 2009Supporting organization — 509(a)(3)

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Support the Education of healthcare information technology professionals by receiving, raising, and administering funds for the purpose of granting scholarships to such persons.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $144K a year · 62% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$691K
39% of total assets
Looks good: liabilities are 39% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$172K
+68% vs prior year
Spent
$332K
To programs
85%
Net assets
$1.1M
By yearFY2020–FY2025
Revenue
$172K
FY2021▲ +68%
Tap a bar for its year
Revenue by fiscal year
FY2020$102K
FY2021$172K
FY2022$518K
FY2023$290K
FY2024$106K
FY2025$218K
Expenses
$332K
FY2021▲ +21%
Tap a bar for its year
Expenses by fiscal year
FY2020$274K
FY2021$332K
FY2022$480K
FY2023$428K
FY2024$441K
FY2025$316K
Net assets
$1.1M
FY2021▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$998K
FY2021$1.1M
FY2022$841K
FY2023$819K
FY2024$662K
FY2025$563K

From the FY2021 Form 990 (year ending September 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $281K Management & general 15% · $51K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President & CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
EVP & COO
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Chime Education Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Grants scholarships to support education for healthcare IT professionals.

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Provided by the organization

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1 program · $281K · in their own filed words · FY2020
01

The chime education foundation offers a variety of scholarships to chime members and their staff. The scholarships cover educational programs from chime events and other educational programs to other cio-related executive education and provide it's executives with a mechanism to fund their professional development and advancement within…

$281Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$25K
Grants paid · 6 grants · $996K · 2019–2024
Unitemized GrantFY2024$51,193
Unitemized GrantFY2023$93,171
Unitemized GrantFY2022$119,891
Unitemized GrantFY2021$238,178
Unitemized GrantFY2020$280,635
Unitemized GrantFY2019$213,428

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$172K
Ln 12
Investment incomeLn 3$107K
Gifts and grantsLn 1h$65K
Money outPt IX
$332K
Ln 25
Programscol B$281K
Managementcol C$51K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$185K
Total assetsLn 16$1.8M
LiabilitiesLn 26$691K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$65K
Investment incomeLn 3$107K
Gains on assetsLn 7$80K
Total revenueLn 12$172K
Assets in detailPt X, end of year
CashLn 1$185K
SavingsLn 2$0
Cash and savings togetherLn 1–2$185K
InvestmentsLn 11–13$1.6M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$300
Total assetsLn 16$1.8M
LiabilitiesLn 26$691K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 630
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$316K$185K
InvestmentsLn 11–13$1.1M$1.6M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$1.4M$1.8M
LiabilitiesLn 26$417K$691K
Net assetsLn 32$998K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$281K$281K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$34K$34K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$5K$5K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$53$53
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$11K$11K
Total functional expensesLn 25$332K$281K$51K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $218K$316K−$98K$563K 990 PDF
FY2024 $106K$441K−$334K$662K 990 PDF
FY2023 $290K$428K−$139K$819K 990 PDF
FY2022 $518K$480K$39K$841K 990 PDF
FY2021 Viewing $172K$332K−$160K$1.1M 990 PDF
FY2020 $102K$274K−$172K$998K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $171,533 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $98,690$64,700
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $3,328$106,833
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $102,018$171,533
I-13 Grants and similar amounts paidPrior year $213,428$280,635
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $34,816$33,708
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $25,991$17,366
I-18 Total expensesPrior year $274,235$331,709
I-19 Revenue less expensesPrior year −$172,217−$160,176
Part VI · Governance 4 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $171,533 across 8 lines filed
VIII-1f All other contributions, gifts and grants$64,700
VIII-1h Total contributions, gifts and grants$64,700
VIII-3 Investment incomeExcluded from tax $27,310$27,310
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax $79,523$79,523
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueExcluded from tax $106,833$171,533
Part IX · Statement of functional expenses $331,709 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $280,635$280,635
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesManagement $33,708$33,708
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal feesManagement $1,274$1,274
IX-11c Accounting feesManagement $4,600$4,600
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expensesManagement $53$53
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Management $11,439$11,439
IX-25 Total functional expensesPrograms $280,635 · Management $51,074 · Fundraising $0$331,709
Part X · Balance sheet $1,764,670 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $315,755$184,960
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $117$0
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $1,080,276$1,579,410
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $18,100$300
X-16 Total assetsStart of year $1,414,248$1,764,670
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $28,900$46,400
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $387,695$644,516
X-26 Total liabilitiesStart of year $416,595$690,916
X-27 Net assets without donor restrictionsStart of year $997,653$1,073,754
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $997,653$1,073,754
X-33 Total liabilities and net assetsStart of year $1,414,248$1,764,670
Part XI · Reconciliation of net assets $1,073,754 net assets at year end
XI-1 Total revenue$171,533
XI-2 Total expenses$331,709
XI-3 Revenue less expenses−$160,176
XI-4 Net assets at start of year$997,653
XI-5 Net unrealized gains (losses) on investments$236,277
XI-10 Net assets at end of year$1,073,754

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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