Save the Chimps

According to the Save the Chimps audit of December 31, 2020 (Note 7, Donated Materials and Services), Save the Chimps received in-kind donated materials and services in fiscal 2020 on which it placed a total value of $76,129.

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]

According to the Save the Chimps 2020 tax filing, Save the Chimps reports re: Business Transactions Involving Interested Persons, a transaction in the amount of $9,654 involving Valerie Kirk and described as "equipment" (IRS Form 990, Schedule L, Part IV).

[Valerie Kirk is reported as Director of Veterinary Services and as the highest compensated employee (IRS Form 990, Part VII).]

According to the Save the Chimps (the Sanctuary) audit of December 31, 2020 (Note 2 re: Contributions Receivable):

"The Sanctuary received approximately 36% of its total contributions from two separate donors for the year ended December 31, 2020. One of these donors is a related party (See Note 5 [which cites approximately $1,435,000 in contributions received 'from a private foundation whose board president is also a board member of the Sanctuary']). As the revenue from these donors is significant to the overall activities of the Sanctuary, any significant reduction or loss of funding from these donors may affect the Sanctuary's ability to operate in its present form..."

According to the Save the Chimps (the Sanctuary) audit of December 31, 2020 (Note 8, Notes Payable, Paycheck Protection Program Promissory Note):

"On April 25, 2020, the Sanctuary obtained a PPP promissory note under the CARES Act in the amount of approximately $603,000. Under the terms of the promissory note, interest accrues monthly at an annual rate of 1% and the Sanctuary is permitted to apply for forgiveness of the amount due under the promissory note that is equal to the sum of qualified expenses under the PPP, which include payroll costs, rent obligations and utility payments as calculated in accordance with the requirements of the PPP and the CARES Act. Subject to any forgiveness under the PPP, the promissory note matures two years following the date of issuance of the promissory note. The Sanctuary filed an application for forgiveness on November 11, 2020, postponing principal and interest payments until further evaluation..."

[...]

"...On August 2, 2021, the Sanctuary was notified that it had received forgiveness of the PPP promissory note and all accrued interest, and as a result, the scheduled principal payments will no longer be required to be made."

According to the Save the Chimps (the Sanctuary) audit of December 31, 2020 (Note 12, Subsequent Events):

"On February 13, 2021, the Sanctuary obtained a second PPP promissory note under the CARES Act in the amount of approximately $677,000. Under the terms of the promissory note, interest accrues monthly at an annual rate of 1% and the Sanctuary is permitted to apply for forgiveness of the amount due under the promissory note that is equal to the sum of qualified expenses under the PPP, which include payroll costs, rent obligations and utility payments as calculated in accordance with the requirements of the PPP and the CARES Act. Subject to any forgiveness under the PPP, the promissory note matures five years following the date of issuance of the promissory note. The Sanctuary filed an application for forgiveness on August 11, 2021, postponing principal and interest payments until further evaluation. On August 25, 2021, the Sanctuary was notified that it had received forgiveness of the second PPP promissory note and all accrued interest."