Chime Institute

Analysis

Chime Institute is a registered charity in United States, based in Woodland HLS, CA. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Chime Institute reported income of $14.6m and spending of $12.3m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.7m to $14.6m (+50%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 37%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Chime Institute sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include Horizon Science Academy of Lorain ($14.6m), New Heights Academy Charter School ($14.6m) and Olivet University ($14.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $184k (1.5% of expenses). Other salaries and wages came to $7.3m. At year end it held assets of $16.9m against liabilities of $8.9m, net assets of $8.1m. It reported 224 employees.