Civic Intelligence

Chips Network Inc.

990 • Fiscal year 2018 • EIN 46-1198117

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 13, 2019

660 4th Street Pmb 350San Francisco, CA 94107

(650) 260-8737

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

20th percentile

0.00x

Higher debt load relative to assets than 20% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

18th percentile

0.00x

Higher debt load relative to revenue than 18% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

86th percentile

35%

Higher net margin than 86% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

83rd percentile

$149,600

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 10.4% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

90th percentile

41%

Faster asset growth than 90% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

57th percentile

6.6%

Faster revenue growth than 57% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$1,704,764

Up $496,259 (+41%) from 2017

Net Assets

Up

$1,699,683

Up $495,814 (+41%) from 2017

Liabilities

Up

$5,081

Up $445 (+9.6%) from 2017

Revenue

Up

$1,435,268

Up $88,969 (+6.6%) from 2017

Expenses

Up

$939,454

Up $38,766 (+4.3%) from 2017

Net Income

Up

$495,814

Up $50,203 (+11%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2012: $74,250Liabilities 2012: $36,3932012Assets 2013: $101,646Liabilities 2013: $585Net Assets 2013: $101,0612013Assets 2014: $270,681Liabilities 2014: $1,600Net Assets 2014: $269,0812014Assets 2015: $516,257Liabilities 2015: $73,652Net Assets 2015: $442,6052015Assets 2016: $819,320Liabilities 2016: $13,650Net Assets 2016: $805,6702016Assets 2017: $1,208,505Liabilities 2017: $4,636Net Assets 2017: $1,203,8692017Assets 2018: $1,704,764Liabilities 2018: $5,081Net Assets 2018: $1,699,6832018Assets 2019: $2,560,005Liabilities 2019: $35,975Net Assets 2019: $2,524,0302019Assets 2020: $2,783,157Liabilities 2020: $37,375Net Assets 2020: $2,745,7822020Assets 2021: $3,091,697Liabilities 2021: $57,703Net Assets 2021: $3,033,9942021Assets 2022: $3,084,648Liabilities 2022: $155,996Net Assets 2022: $2,928,6522022Assets 2023: $3,459,762Liabilities 2023: $300,386Net Assets 2023: $3,159,3762023Assets 2024: $4,261,274Liabilities 2024: $441,813Net Assets 2024: $3,819,4612024

Highlighted filing

2018

Assets$1,704,764
Liabilities$5,081
Net Assets$1,699,683

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $171,296Expenses 2012: $133,439Net Income 2012: $37,8572012Revenue 2013: $280,393Expenses 2013: $217,189Net Income 2013: $63,2042013Revenue 2014: $464,890Expenses 2014: $296,870Net Income 2014: $168,0202014Revenue 2015: $627,390Expenses 2015: $453,866Net Income 2015: $173,5242015Revenue 2016: $950,383Expenses 2016: $584,775Net Income 2016: $365,6082016Revenue 2017: $1,346,299Expenses 2017: $900,688Net Income 2017: $445,6112017Revenue 2018: $1,435,268Expenses 2018: $939,454Net Income 2018: $495,8142018Revenue 2019: $2,035,781Expenses 2019: $1,211,434Net Income 2019: $824,3472019Revenue 2020: $1,045,659Expenses 2020: $823,907Net Income 2020: $221,7522020Revenue 2021: $1,157,772Expenses 2021: $893,310Net Income 2021: $264,4622021Revenue 2022: $2,665,353Expenses 2022: $2,769,775Net Income 2022: -$104,4222022Revenue 2023: $3,019,222Expenses 2023: $2,789,100Net Income 2023: $230,1222023Revenue 2024: $3,304,287Expenses 2024: $2,788,555Net Income 2024: $515,7322024

Highlighted filing

2018

Revenue$1,435,268
Expenses$939,454
Net Income$495,814
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.1
Gross Receipts
$1,435,268
Mission and Program 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.

Chips global summit for women in technology, law & policy; next gen summit for women in technology, law & policy; diversity & inclusion blueprint survey; rachel krevans scholarship; programs for our members through regional chapters in the united states and united kingdon (london).

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,074,213$1,592,851▲ $518,638
Savings and Temporary Cash Investments$91,414$91,441▲ $27
Prepaid Expenses and Deferred Charges$22,892$11,119▼ $11,773
Accounts Receivable$19,986$9,353▼ $10,633
Total Assets$1,208,505$1,704,764▲ $496,259
Liabilities
Accounts Payable and Accrued Expenses$4,636$5,081▲ $445
Total Liabilities$4,636$5,081▲ $445
Net Assets / Fund Balance
Unrestricted Net Assets$1,203,869$1,679,683▲ $475,814
Temporarily Rstr Net Assets-$20,000-
Total Net Assets Fund Balance$1,203,869$1,699,683▲ $495,814
Total Liabilities and Net Assets / Fund Balance$1,208,505$1,704,764▲ $496,259
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Karen RoyerExecutive DirectorFT$140,000$9,600$149,600

Board Members and Trustees

NameTitle
Noreen KrallChair
Mallun YenPresident
Dorian DaleyDirector
Emily WardDirector
Michelle K LeeDirector
Anirma GuptaSecretary
Mona SabetTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$851,567
Program Service Revenue
$583,674
Investment Income
$27
Other Revenue
$0
All Other Contributions
$851,567
Change in Net Assets
$495,814
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$536,988
Salaries, Compensation, and Employee Benefits$397,466
Grants and Similar Amounts Paid$5,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$197,950--$197,950
Current Officers, Directors, Trustees, and Key Employees$142,120$7,480-$149,600
Fees for Services Other$9,368$32,170-$41,538
Travel$33,985--$33,985
Fees for Services Accounting-$27,010-$27,010
Advertising$26,534--$26,534
Payroll Taxes$25,190$1,326-$26,516
Other Employee Benefits$23,400--$23,400
Information Technology$192$23,089-$23,281
Grants to Domestic Individuals$5,000--$5,000
Insurance-$4,853-$4,853
Office Expenses-$2,186-$2,186
Occupancy$25$1,646-$1,671
Other Expenses$402$1,616-$402
All Other Expenses-$78-$78
Total Functional Expenses$836,861$102,593$0$939,454
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The executive director reviews the form 990 with the audit committee. The audit committee provides the board directors for review. The board then approves the form 990.

Form 990, Part VI, Section B, Line 12C

Each year chips requires its directors to confirm their compliance with the organization's conflict of interest policy.

Form 990, Part VI, Section B, Line 15

The board of directors deliberate the appropriate compensation during their board meetings taking into consideration (1) the size of the organization in terms of staff, membership and revenue, (2) compensation to other executive directors in non-profit organizations, and (3) the financials ability to support expenses incurred in hiring and maintaining the executive director position.

Form 990, Part VI, Section C, Line 19

Chips makes its governing documents, conflict of interest policy, and financial statements available to the public upon request through the contact page on the organization's website.

Filing and Contact Details

Filer

Filer Name
Chips Network Inc
EIN
46-1198117
Phone
6502608737
Address
660 4TH STREET PMB 350, SAN FRANCISCO, CA 94107

Signing Officer

Name
Dorian Daley
Title
Board Director
Phone
6502608737
Signed
2019-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mallun Yen
Formed
2012
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
6
Volunteers
100

Preparer

Firm
Lindquist Von Husen & Joyce Llp
Address
301 HOWARD STREET SUITE 850, SAN FRANCISCO, CA 94105
Preparer
Alexis H Wong
Phone
4159579999
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

1) rachel krevans scholarship - the board of directors of the chips network established the rachel krevans scholarship in 2018 to honor the memory of rachel krevans, a renowned intellectual property litigator at morrison & foerster llp, and to promote diversity in the practice of intellectual property law. Scholarship policy was adpoted by board directors on september 7, 2018 (see 2018-09-07 chips bod minutes final - exhibit d and related exhibits, also see https://chipsnetwork.org/empower-future-generations/rachel-krevans-scho 2) diversity & inclusion blueprint survey - the chips diversity & inclusion blueprint survey, a joint initiative with diversity lab, measures gender diversity in law firm leadership as well as the work experiences of women at the practice group level, with a particular focus on intellectual property. The chips inclusion blueprint survey is conducted annually and is open to amlaw 200 firms by invitation. (see https://chipsnetwork.org/celebrate-leaders/honor-roll/). 3) ali program - chips ali programs are shadow day programs for girls. The mission and purpose of these programs is to inspire the next generation to imagine their future as (a)dvocates, (l)eaders and (i)nnovators. Chips ali programs are open to high-school girls, from incoming sophomores to recently graduated seniors, who are interested in exploring a career in law. Chips ali programs are managed by chips chapters. (see https://chipsnetwork.org/empower-future-generations/youth-leadership-pr

Form 990, Part III, Line 3

In april 2018, chips adopted a chapter handbook for our regional chapter leaders. The chips chapter handbook includes governance, programming, membership and reporting policies for our regional chapters and chapter leaders. Chips chapter leaders are volunteers and active members of the chips community. See chips chapter handbook.

Raw XML Appendix397 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt01) RACHEL KREVANS SCHOLARSHIP - THE BOARD OF DIRECTORS OF THE CHIPS NETWORK ESTABLISHED THE RACHEL KREVANS SCHOLARSHIP IN 2018 TO HONOR THE MEMORY OF RACHEL KREVANS, A RENOWNED INTELLECTUAL PROPERTY LITIGATOR AT MORRISON & FOERSTER LLP, AND TO PROMOTE DIVERSITY IN THE PRACTICE OF INTELLECTUAL PROPERTY LAW. SCHOLARSHIP POLICY WAS ADPOTED BY BOARD DIRECTORS ON SEPTEMBER 7, 2018 (SEE 2018-09-07 CHIPS BOD MINUTES FINAL - EXHIBIT D AND RELATED EXHIBITS, ALSO SEE HTTPS://CHIPSNETWORK.ORG/EMPOWER-FUTURE-GENERATIONS/RACHEL-KREVANS-SCHO 2) DIVERSITY & INCLUSION BLUEPRINT SURVEY - THE CHIPS DIVERSITY & INCLUSION BLUEPRINT SURVEY, A JOINT INITIATIVE WITH DIVERSITY LAB, MEASURES GENDER DIVERSITY IN LAW FIRM LEADERSHIP AS WELL AS THE WORK EXPERIENCES OF WOMEN AT THE PRACTICE GROUP LEVEL, WITH A PARTICULAR FOCUS ON INTELLECTUAL PROPERTY. THE CHIPS INCLUSION BLUEPRINT SURVEY IS CONDUCTED ANNUALLY AND IS OPEN TO AMLAW 200 FIRMS BY INVITATION. (SEE HTTPS://CHIPSNETWORK.ORG/CELEBRATE-LEADERS/HONOR-ROLL/). 3) ALI PROGRAM - CHIPS ALI PROGRAMS ARE SHADOW DAY PROGRAMS FOR GIRLS. THE MISSION AND PURPOSE OF THESE PROGRAMS IS TO INSPIRE THE NEXT GENERATION TO IMAGINE THEIR FUTURE AS (A)DVOCATES, (L)EADERS AND (I)NNOVATORS. CHIPS ALI PROGRAMS ARE OPEN TO HIGH-SCHOOL GIRLS, FROM INCOMING SOPHOMORES TO RECENTLY GRADUATED SENIORS, WHO ARE INTERESTED IN EXPLORING A CAREER IN LAW. CHIPS ALI PROGRAMS ARE MANAGED BY CHIPS CHAPTERS. (SEE HTTPS://CHIPSNETWORK.ORG/EMPOWER-FUTURE-GENERATIONS/YOUTH-LEADERSHIP-PR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN APRIL 2018, CHIPS ADOPTED A CHAPTER HANDBOOK FOR OUR REGIONAL CHAPTER LEADERS. THE CHIPS CHAPTER HANDBOOK INCLUDES GOVERNANCE, PROGRAMMING, MEMBERSHIP AND REPORTING POLICIES FOR OUR REGIONAL CHAPTERS AND CHAPTER LEADERS. CHIPS CHAPTER LEADERS ARE VOLUNTEERS AND ACTIVE MEMBERS OF THE CHIPS COMMUNITY. SEE CHIPS CHAPTER HANDBOOK.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR REVIEWS THE FORM 990 WITH THE AUDIT COMMITTEE. THE AUDIT COMMITTEE PROVIDES THE BOARD DIRECTORS FOR REVIEW. THE BOARD THEN APPROVES THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EACH YEAR CHIPS REQUIRES ITS DIRECTORS TO CONFIRM THEIR COMPLIANCE WITH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS DELIBERATE THE APPROPRIATE COMPENSATION DURING THEIR BOARD MEETINGS TAKING INTO CONSIDERATION (1) THE SIZE OF THE ORGANIZATION IN TERMS OF STAFF, MEMBERSHIP AND REVENUE, (2) COMPENSATION TO OTHER EXECUTIVE DIRECTORS IN NON-PROFIT ORGANIZATIONS, AND (3) THE FINANCIALS ABILITY TO SUPPORT EXPENSES INCURRED IN HIRING AND MAINTAINING THE EXECUTIVE DIRECTOR POSITION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CHIPS MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST THROUGH THE CONTACT PAGE ON THE ORGANIZATION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt01203869
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01679683
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IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DORIAN DALEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06502608737
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CHIPS NETWORK INC
ReturnHeader/Filer/BusinessNameControlTxt0CHIP
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt050.235.103.30
ReturnHeader/FilingSecurityInformation/IPDt02019-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm015:18:51
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0941250261
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LINDQUIST VON HUSEN & JOYCE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0301 HOWARD STREET SUITE 850
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAN FRANCISCO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd094105
ReturnHeader/PreparerPersonGrp/PhoneNum04159579999
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALEXIS H WONG
ReturnHeader/ReturnTs02019-11-13T17:19:03-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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