Charitable Impact Foundation, known as "CHIMP," claims to have received $1.5 billion from more than 200,000 Canadians and claims to be the "fastest growing" giving network in Canada. That sounds impressive but, as I have said many times at this blog, there are signs of trouble.
A few years ago, Deloitte warned that it could not vouch for $193 million of CHIMP's assets . Within weeks, CHIMP's entire board resigned and Deloitte is no longer CHIMP's auditor.
CHIMP advertises that it helps Canadian to make a "true impact" with "absolute confidence."
Here are a few questions that anyone thinking of working with CHIMP might want to ask:
1. Deloitte Audit:
- Why was Deloitte unable to vouch for $193 million of CHIMP's unlisted securities? Why did the entire board resign at around the same time?
2. $79 Million paid to Chimp Technology Inc.
- Since CHIMP began, CHIMP has paid $79 million (2011-2023) to a private company, Chimp Technology Inc. which is owned by CHIMP's CEO and his father, John Bromley and Blake Bromley.
- The origin of the $79 million is a concern.
- The main service that CHIMP provides is a website that enables donations to Canadian charities. This service is free.
- Obviously, CHIMP did not earn $79 million by providing a free service so, where did CHIMP get the $79 million?
3. $24.5 Million from the sale of Quest University
- One of the main projects financed via CHIMP was Quest University which went bankrupt, was sold and closed. After Quest's sale, CHIMP received $24.5 million from the proceeds of the sale of Quest's campus. What does CHIMP do with the money? Did it get transferred to Chimp Technology Inc.?
4. Sale of 83 Apartments
- Almoner Foundation was established by the same person as CHIMP, Blake Bromley, the father of CHIMP's CEO, John Bromley.
- Land title records show that Almoner Foundation owned 83 apartment units that were student residences for Quest University. Almoner Foundation leased the apartments to Quest, earning $10.7 million and then sold the apartments. But instead of transferring the money to Quest, Almoner Foundation transferred $35 million to CHIMP. Why did the money from the sale of Quest University's student residences go to CHIMP rather than to Quest? And what did CHIMP do with the $35 million?
4. 188 Real Estate Properties
- Land title records show that CHIMP has owned and sold 34 real estate properties in B.C. and Alberta (Chilliwack, Coquitlam, Hope, Langley, Merritt, Ucluelet, Squamish, Fernie and Calgary). These, and the 83 apartments owned by Almoner Foundation, are part of a larger picture of 188 real estate properties that have been owned and sold by CHIMP and other charities run by Blake Bromley.
- What charitable purpose is served by these real estate transactions?
5. Is CHIMP being audited by CRA?
- CHIMP has been involved in transactions totalling $185 million with at least a 17 charities that have had their charitable status revoked by CRA following an audit that found serious violations. CHIMP made gifts to revoked charities for $141 million and received gifts from revoked charities for $44 million. While a dozen charities with which CHIMP has been involved have been revoked, CHIMP has not.
- NOTE: There can be a delay of 10 years or more between completion of a CRA audit and revocation. For example, the Jewish National Fund of Canada had its charitable status revoked in 2024 after an audit was completed in 2016, eight years ago. The years covered by the audit were 2011 and 2012, fully 13 years ago.
- Has CHIMP also been audited by CRA? Is a CRA audit report available?