Civic Intelligence

Chelsea Corporation for Economic Progress

EIN 22-2507101 • 501(c)4 • Chelsea, MA

Profile

Provide Low interest loans for community

308 BroadwayChelsea, MA 02150
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)4 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

61st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)4 • <$500k nonprofits • Source year 2024

Net Margin

9th percentile

-94%

Higher net margin than 9% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2024

Top Officer Pay

89th percentile

$0

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)4 • <$500k nonprofits • Source year 2024

Asset Growth

51st percentile

-1.0%

Faster asset growth than 51% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

79th percentile

24%

Faster revenue growth than 79% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets59th percentile

Assets

Down

$223,111

Down $2,335 (-1.0%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Down

$223,111

Down $2,335 (-1.0%) from 2023

Operations
Liabilities / Revenue61st percentileNet Margin9th percentile

Revenue

Up

$2,322

Up $447 (+24%) from 2023

Expenses

Down

$4,497

Down $1,007 (-18%) from 2023

Net Income

Up

-$2,175

Up $1,454 (+40%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth51st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300K$200K$100K$0Assets 2011: $194,176Liabilities 2011: $02011Assets 2012: $198,933Liabilities 2012: $02012Assets 2013: $202,676Liabilities 2013: $02013Assets 2014: $205,260Liabilities 2014: $02014Assets 2015: $208,244Liabilities 2015: $02015Assets 2016: $211,674Liabilities 2016: $02016Assets 2017: $214,188Liabilities 2017: $02017Assets 2018: $218,673Liabilities 2018: $02018Assets 2019: $221,816Liabilities 2019: $02019Assets 2020: $223,803Liabilities 2020: $02020Assets 2021: $227,560Liabilities 2021: $0Net Assets 2021: $227,5602021Assets 2022: $229,075Liabilities 2022: $0Net Assets 2022: $229,0752022Assets 2023: $225,446Liabilities 2023: $0Net Assets 2023: $225,4462023Assets 2024: $223,111Liabilities 2024: $0Net Assets 2024: $223,1112024

Highlighted filing

2024

Assets$223,111
Liabilities$0
Net Assets$223,111
Open 2024 Filing

Operations Trend

Revenue Growth79th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10K$5.0K$0-$5.0KRevenue 2011: $5,648Expenses 2011: $588Net Income 2011: $5,0602011Revenue 2012: $5,000Expenses 2012: $358Net Income 2012: $4,6422012Revenue 2013: $3,867Expenses 2013: $125Net Income 2013: $3,7422013Revenue 2014: $3,176Expenses 2014: $592Net Income 2014: $2,5842014Revenue 2015: $3,474Expenses 2015: $50Net Income 2015: $3,4242015Revenue 2016: $3,040Expenses 2016: $60Net Income 2016: $2,9802016Revenue 2017: $3,071Expenses 2017: $557Net Income 2017: $2,5142017Revenue 2018: $4,204Expenses 2018: $4,326Net Income 2018: -$1222018Revenue 2019: $4,036Expenses 2019: $488Net Income 2019: $3,5482019Revenue 2020: $2,198Expenses 2020: $200Net Income 2020: $1,9982020Revenue 2021: $3,846Expenses 2021: $99Net Income 2021: $3,7472021Revenue 2022: $2,200Expenses 2022: $685Net Income 2022: $1,5152022Revenue 2023: $1,875Expenses 2023: $5,504Net Income 2023: -$3,6292023Revenue 2024: $2,322Expenses 2024: $4,497Net Income 2024: -$2,1752024

Highlighted filing

2024

Revenue$2,322
Expenses$4,497
Net Income-$2,175
Open 2024 Filing

Filings

Most recent year

2024 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$223,111
Liabilities
$0
Net assets
$223,111
Revenue
$2,322
Expenses
$4,497
Net income
-$2,175
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.23$0.00$2.23$0.02$0.04$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.25$0.00$2.25$0.02$0.06$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.29$0.00$2.29$0.02$0.01$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.28$0.00$2.28$0.04$0.00$0.04
2020Summary only. Only limited summary data is available for this year.$2.24$0.00$0.02$0.00$0.02
2019Summary only. Only limited summary data is available for this year.$2.22$0.00$0.04$0.00$0.04
2018Summary only. Only limited summary data is available for this year.$2.19$0.00$0.04$0.04$0.00
2017Summary only. Only limited summary data is available for this year.$2.14$0.00$0.03$0.01$0.03
2016Summary only. Only limited summary data is available for this year.$2.12$0.00$0.03$0.00$0.03
2015Summary only. Only limited summary data is available for this year.$2.08$0.00$0.03$0.00$0.03
2014Summary only. Only limited summary data is available for this year.$2.05$0.00$0.03$0.01$0.03
2013Summary only. Only limited summary data is available for this year.$2.03$0.00$0.04$0.00$0.04
2012Summary only. Only limited summary data is available for this year.$1.99$0.00$0.05$0.00$0.05
2011Summary only. Only limited summary data is available for this year.$1.94$0.00$0.06$0.01$0.05
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 7, 2025
Return Version
2024v5.1
Gross Receipts
$2,322
Mission and Program Overview

Mission

Provide Low interest loans for community

Program Services

DescriptionGrantsExpenses
Charitable Offering of Low Interest Loans to Homeowners and the local business community.-$0
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer HassellExecutive Director-$0--
Beth M McDougalPresident-$0--
David MindlinVice President-$0--
Seth FelixTreasurer-$0--
Rosman GoldVice President-$0--
Arthur ArsenaultSecretary-$0--
Filing and Contact Details

Filer

Filer Name
Chelsea Corporation For Economic Progress
EIN
22-2507101
In Care Of
% Jennifer Hassell
Phone
6178844877
Address
308 Broadway, Chelsea, MA 02150

Signing Officer

Name
Jennifer Hassell
Title
Executive Director
Phone
6178844877
Signed
2025-05-07
Discuss with paid preparer
Yes

Preparer

Firm
Litchfield Vo & Associates LLC
Address
1 Militia Dr Ste 202, Lexington, MA 02421
Preparer
Lawrence a Litchfield Iii
Phone
7818632272
Supplemental Narrative

Additional Explanations

Description of other expenses Part I line 16

“Description AmountDues & Subscriptions 35Online Fees 62Other Expenses 1,475”

Other changes in net assets or fund balances Part I line 20

“Description AmountAdjustment of earlier year activity (160)”

Description of other assets Part II line 24

“Category Beginning of Year End of YearOther Current Assets 67,111 43,929”

Raw XML Appendix141 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.

Path#Value
IRS990EZ/ActivitiesNotPreviouslyRptInd0false
IRS990EZ/BooksInCareOfDetail/PersonNm0Jennifer Hassell
IRS990EZ/BooksInCareOfDetail/PhoneNum06178844877
IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt0308 Broadway
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0Chelsea
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MA
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd002150
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt0158335
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt0179182
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd0false
IRS990EZ/DonorAdvisedFndsInd0false
IRS990EZ/EngagedInExcessBenefitTransInd0false
IRS990EZ/ExcessOrDeficitForYearAmt0-2175
IRS990EZ/FeesAndOtherPymtToIndCntrctAmt02925
IRS990EZ/ForeignFinancialAccountInd0false
IRS990EZ/ForeignOfficeInd0false
IRS990EZ/Form1120PolFiledInd0false
IRS990EZ/Form990TotalAssetsGrp/BOYAmt0225446
IRS990EZ/Form990TotalAssetsGrp/EOYAmt0223111
IRS990EZ/GrossReceiptsAmt02322
IRS990EZ/InfoInScheduleOPartIIInd0X
IRS990EZ/InfoInScheduleOPartIInd0X
IRS990EZ/InvestmentIncomeAmt091
IRS990EZ/LandAndBuildingsGrp/BOYAmt00
IRS990EZ/LandAndBuildingsGrp/EOYAmt00
IRS990EZ/MadeLoansToFromOfficersInd0false
IRS990EZ/MethodOfAccountingCashInd0X
IRS990EZ/NetAssetsOrFundBalancesBOYAmt0225446
IRS990EZ/NetAssetsOrFundBalancesEOYAmt0223111
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt0225446
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt0223111
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt00.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt10.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt20.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt30.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt40.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt50.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0Jennifer Hassell
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1Beth M McDougal
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2David Mindlin
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3Seth Felix
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4Rosman Gold
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm5Arthur Arsenault
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0Executive Director
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1President
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2Vice President
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3Treasurer
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4Vice President
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt5Secretary
IRS990EZ/OperateHospitalInd0false
IRS990EZ/Organization501cInd0X
IRS990EZ/OrganizationDissolvedEtcInd0false
IRS990EZ/OrganizationHadUBIInd0false
IRS990EZ/OtherAssetsTotalDetail/BOYAmt067111
IRS990EZ/OtherAssetsTotalDetail/EOYAmt043929
IRS990EZ/OtherChangesInNetAssetsAmt0-160
IRS990EZ/OtherExpensesTotalAmt01572
IRS990EZ/PoliticalCampaignActyInd0false
IRS990EZ/PrimaryExemptPurposeTxt0Provide Low interest loans for community
IRS990EZ/ProgramServiceRevenueAmt02231
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0Charitable Offering of Low Interest Loans to Homeowners and the local business community.
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt00
IRS990EZ/ProhibitedTaxShelterTransInd0false
IRS990EZ/RelatedOrganizationCtrlEntInd0false
IRS990EZ/ScheduleBNotRequiredInd0X
IRS990EZ/StatesWhereCopyOfReturnIsFldCd0MA
IRS990EZ/SubjectToProxyTaxInd0false
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt00
IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt00
IRS990EZ/TanningServicesProvidedInd0false
IRS990EZ/TotalExpensesAmt04497
IRS990EZ/TotalProgramServiceExpensesAmt00
IRS990EZ/TotalRevenueAmt02322
IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt03135
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03135
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt02322
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02322
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.57450
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt03135
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt03135
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03135
IRS990ScheduleA/TotalSupportAmt05457
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Description AmountDues & Subscriptions 35Online Fees 62Other Expenses 1,475
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Description AmountAdjustment of earlier year activity (160)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Category Beginning of Year End of YearOther Current Assets 67,111 43,929
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Description of other expenses Part I line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Other changes in net assets or fund balances Part I line 20
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Description of other assets Part II line 24
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JENNIFER HASSELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum06178844877
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Chelsea Corporation For Economic Progress
ReturnHeader/Filer/BusinessNameControlTxt0CHEL
ReturnHeader/Filer/EIN0222507101
ReturnHeader/Filer/InCareOfNm0% Jennifer Hassell
ReturnHeader/Filer/PhoneNum06178844877
ReturnHeader/Filer/USAddress/AddressLine1Txt0308 Broadway
ReturnHeader/Filer/USAddress/CityNm0Chelsea
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002150
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0994248532
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Litchfield Vo & Associates LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01 Militia Dr Ste 202
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Lexington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002421
ReturnHeader/PreparerPersonGrp/PhoneNum07818632272
ReturnHeader/PreparerPersonGrp/PreparationDt02025-06-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAWRENCE A LITCHFIELD III
ReturnHeader/ReturnTs02025-06-10T16:55:16-04:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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