Preheat the oven to 350 degrees Fahrenheit.
Grease 2, six cavity donut pans and set aside. This recipe makes 8 donuts, so you only need to grease 2 on the second pan. In a mixing bowl, whisk together all wet ingredients.
Add in the dry ingredients and whisk until smooth.
Transfer to your prepared donut pans, filling each almost to the top.
Bake for 14-17 minutes or until a toothpick comes out clean.
Let cool in the pan, then flip onto a wire rack. They should fall right out, but tap the bottom of the pan if anything gets stuck.
To make the frosting, add the chocolate chips and 2 tablespoons of milk to a bowl and melt in 20 second intervals, stirring between each, until melted.
When the donuts have cooled, dip each in the icing, add sprinkles on top and place on a wire rack.
Enjoy!