Chops Inc

Analysis

Chops Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in February 1997, 29 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Chops Inc reported income of $595k and spending of $530k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $265k to $595k (+125%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 671%. Over the whole period it spent 79% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Chops Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within MN. Charities of a similar size with the same main cause include Institute for Research and Reform in Education Inc ($595k), Hill Dance Academy Theatre-Hdat ($595k) and All-Star Orchestra Summit ($595k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 11% of the total. Other salaries and wages came to $212k. At year end it held assets of $542k against liabilities of $21k, net assets of $521k. It reported 50 employees.