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Organization DBA --
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years No

Summary

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Mission StatementMORE »

Since our incorporation by local residents in 1977, CRC’s mission has been to provide quality housing for the area’s low to moderate-income families.  

Mission Statement

Since our incorporation by local residents in 1977, CRC’s mission has been to provide quality housing for the area’s low to moderate-income families.  


FinancialsMORE »

Fiscal Year Jan 01, 2012 to Dec 31, 2012
Projected Income $1,168,983.00
Projected Expense $898,375.00

ProgramsMORE »

  • Homeowner Sustainability Support
  • Housing Educational Workshops
  • Property Rehabilitation Financing
  • Receivership

Revenue vs. Expense ($000s)

Expense Breakdown 2014 (%)

Expense Breakdown 2013 (%)

Expense Breakdown 2012 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

Since our incorporation by local residents in 1977, CRC’s mission has been to provide quality housing for the area’s low to moderate-income families.  


Background Statement

CRC has provided housing counseling to low-income individuals in the City of Chelsea and surrounding areas for over 35 years.  We offer a year-round series of educational housing workshops in both English and Spanish, helping our clients to achieve the dream of successful, sustainable home ownership. Since our incorporation by local residents in 1977,CRC’s mission has been to provide quality housing for the area’s low to moderate-income families.  


Impact Statement

CRC empowers local residents in Chelsea, Revere, Saugus and surrounding neighborhoods to achieve their dreams of sustainable home ownership. In the past year, we provided critical homebuyer counseling and educational experiences to hundreds of local residents.  Through our programs, low-income individuals develop the skills and strategies needed to achieve fiscal stability and independence. Our clients succeed in converting from renters to homeowners – and in many cases, owner-occupant landlords.  In cities where homeownership rates are among the lowest in Massachusetts, CRC’s programs are critical to the strength of the communities we serve.  CRC’s programs promote increased home ownership, expand local community investment, and improve overall quality of life.

 

In addition to our educational and counseling programs, CRC also operates a highly successful program rehabilitating blighted properties and making them available as affordable housing.  Through our Receivership Program, we take ownership of properties that have become liabilities to their neighborhoods – drug houses that have been seized by police, and homes that have gone into foreclosure and fallen into dangerous levels of disrepair.  CRC restores these homes to code, and creates beautiful living spaces that enhance their neighborhoods and provide opportunities for local, low-income purchasers to own properties they can be proud of. As part of this program, we reach out to local armed-services veterans and have a special focus on helping them succeed in obtaining and sustaining properties.  CRC was recently awarded a $450,000 grant from the Massachusetts Office of the Attorney General to infuse the Receivership Program with working capital so we can expand our efforts – rehabilitating more properties, and creating more home ownership opportunities. 


Needs Statement

Our greatest need is funding to establish a Bridge Financing program for low-income, multi-family property owners. In our communities, the vast majority of homes are multi-family - most of which are owned by local residents who live in one usit while serving as landlord for the other unit(s) in the building. These owners operate on slim profit margins, and when their properties are inspected by city services, many times issues are discovered that require major renovations.  In these cases, owners often find themselves in an untenable position - they don't have enough cash to fund the project, and banks may not lend them the full amount required to complete the work. When this happens, bridge financing can make the difference between a successful project - where the property is restored to code, and the owner can pay back their construction loan - and a foreclosure and/or abandonment of the property. CRC seeks to raise $100,000 in 2013 to establish our bridge financing fund.

Our other greatest needs are funds to increase capacity in our Receivership Program, and sustainable funding to increase our staffing capacity and serve more low-income local residents through our first-time homebuyer and foreclosure mitigation programs. 

 

CEO Statement

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Board Chair Statement

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Geographic Area Served

GREATER BOSTON REGION, MA
CRC serves Chelsea, Revere, Saugus and surrounding neighborhoods.

Organization Categories

  1. Housing, Shelter - Housing Support
  2. Housing, Shelter - Housing Rehabilitation
  3. -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

Yes

Programs

Homeowner Sustainability Support

Down Payment Assistance Program:  Once a potential homebuyer completes the FTHB workshops, he/she receives a certificate qualifying them to apply for down payment assistance of up to $9,500 for low-income families who wish to purchase a home in one of our partner communities. 


Foreclosure Prevention Initiative: CRC partners with homeowners who are struggling to meet the costs of keeping their homes by working with banks and community organizations to create options which meet the needs of all involved.  


Home Improvement Rehabilitation Program: In collaboration with Chelsea Bank, CRC administers funds for first time home buyers to utilize as a rehabilitative loan for their homes. CRC assists the applicant to complete the loan application, select an appropriate contractor for rehabilitative work, and assists the homeowner in overseeing the contractor’s work. 

Budget  $80,000.00
Category  Housing, General/Other Housing Support
Population Served Adults
Program Short-Term Success 

Every year, over 200 local low-income residents complete our homebuyer education programs, and are better prepared to achieve their dreams of sustainable home ownership.

Program Long-Term Success 

The goal of all our programs is to create greater opportunities for home ownership. CRC's programs ensure that local residents are prepared for the challenges of home ownership, and lower the chances that their homes will fall into foreclosure.  Over the long term, CRC envisions our communities as places where the vast majority of residents are successful homeowners, invested in their neighborhoods and contributing to the economic vitality of their communities.

Program Success Monitored By  We track the completion of courses and all client progress via CounselorMax, a HUD-Approved client database for housing counseling outcomes.
Examples of Program Success  ...

Housing Educational Workshops

CRC teaches first-time homebuyers exactly what to expect when becoming homeowners, and provides counseling for multi-unit homebuyers to ensure that they have the knowledge and skills needed to successfully rent or lease properties. Participants in our educational courses receive instruction on the process of buying a new home; buying FHA Real Estate Owned Property; buying a foreclosed property; understanding loan alternatives; understanding FHA mortgages and options; budgeting; understanding the appraisal process; understanding a home inspection process and report; understanding predatory lending practices; and understanding their rights under the Fair Housing Act. All participants receive a comprehensive overview of all prohibited actions by a renter, seller or mortgagor based on race, color, national origin, religion, sex, familial status or disability status.  In addition, participants are presented with examples of illegal threats, coercion, and discriminatory advertising.  

Budget  $80,000.00
Category  Housing, General/Other Housing Counseling
Population Served Adults
Program Short-Term Success  Every year, over 200 local low-income residents complete our homebuyer education programs, and are better prepared to achieve their dreams of sustainable home ownership.
Program Long-Term Success  The goal of all our programs is to create greater opportunities for home ownership. CRC's educational workshops ensure that local residents are prepared for the challenges of home ownership, and lower the chances that their homes will fall into foreclosure.  Over the long term, CRC envisions our communities as places where the vast majority of residents are successful homeowners, invested in their neighborhoods and contributing to the economic vitality of their communities.
Program Success Monitored By  We track the completion of courses and all client progress via CounselorMax, a HUD-Approved client database for housing counseling outcomes.
Examples of Program Success  ghgh

Property Rehabilitation Financing

Bridge financing is the critical link for many multi-family owner-occupants to obtain the funds needed to bring properties up to code, and ensure that these properties – which are located in Chelsea, Revere, and surrounding neighborhoods – will not fall into foreclosure.  This program, scheduled to launch in 2013, will enable local property owners to retain ownership and properly maintain their properties, ensure that tenants are not displaced, and strengthen and stabilize the affected neighborhoods. 

Budget  $200,000.00
Category  Housing, General/Other Housing Expense Assistance
Population Served Adults
Program Short-Term Success 

 

Each year, between 5-10 local multi-unit homeowners will receive the assistance necessary to bring their residences to code, keep their homes out of foreclosure, and maintain a quality rental property for their low-income tenants.

 

Program Long-Term Success  The goal of all our programs is to create greater opportunities for home ownership. CRC's educational workshops ensure that local residents are prepared for the challenges of home ownership, and lower the chances that their homes will fall into foreclosure.  Over the long term, CRC envisions our communities as places where the vast majority of residents are successful homeowners, invested in their neighborhoods and contributing to the economic vitality of their communities.
Program Success Monitored By 

We track the completion of courses and all client progress via CounselorMax, a HUD-Approved client database for housing counseling outcomes.

Examples of Program Success  CRC ran this program successfully for many years, and supported Myrna, a multi-family homeowner with low-income tenants. In 2001, Myrna needed $32,500 to renovate the property to meet code, and could not qualify to borrow the whole amount from the bank. With the help of a $10,000 bridge financing loan from CRC, she was able to finance the full project. The loan was fully repaid in 2011, and she (and her tenants) still maintain residency in the property.

Receivership

Through CRC’s Receivership initiative, we acquire blighted properties that have fallen into disrepair and are negatively impacting the surrounding community.  CRC finances and manages the renovation (and in extreme cases, reconstruction)  these properties, bringing them into full compliance with all building codes and converting these homes – which once were community liabilities – into assets to their neighborhoods.  CRC then coordinates the process of the home being sold as affordable housing and identifies potential low-to-moderate income purchasers – with a preference for armed services veterans.  
Budget  $250,000.00
Category  Housing, General/Other Housing Development, Construction & Management
Population Served Adults
Program Short-Term Success  By encouraging resident ownership of rehabilitated properties, CRC dramatically increases the likelihood that each home, its owners and any other residents will positively contribute to the quality of life in these neighborhoods. The result is transformative – blighted, abandoned properties that once de-valued their surroundings become vibrant centerpieces of recovering communities. 
Program Long-Term Success 

Through our Receivership program, CRC contributes to the revitalization of the communities we serve.  We work in collaboration with local municipalities to create more opportunities for home ownership, with the ultimate goal of creating stronger communities and greater overall quality of life.

Program Success Monitored By  CRC maintains a multimedia journal chronicling the progress of each property, showing the transformation of each home from liability status to a gleaming neighborhood asset. 
Examples of Program Success 

Recently, CRC completed our first Receivership project in Saugus. The four-bedroom and two full-bathroom home had fallen into complete disrepair – it had been unoccupied since 1997. 

CRC’s Executive Director Helen Zucco noted that “the house was not in good condition. There were many code violations and it had been severely neglected.” The home was completely rehabilitated from the inside out, and with a new roof and trimmed hedges and lawn, the property now adds value to the neighborhood. After the project was completed, CRC held an open house for neighbors. “The neighbors were very supportive during construction,” Zucco said. “Many people that live in the neighborhood and surrounding areas came by to see how it turned out, it was wonderful.”


CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Ms. Helen Zucco
CEO Term Start Jan 1987
CEO Email [email protected]
CEO Experience CRC’s Helen Zucco is responsible for the overall management and daily operations of the agency. Ms. Zucco is a lifetime resident of Chelsea who has been part of CRC since its inception in 1977, and has served as CRC’s Executive Director since 1987.  Over the past twenty-five years she has closely collaborated with the community of Chelsea, her staff, City Hall, various contractors, other municipalities and other professionals to ensure the accessibility of housing for low and moderate income populations.  Ms. Zucco supervises and leads the activities of CRC’s staff and volunteers.  
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
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Senior Staff

Name Title Experience/Biography
Marilyn Garcia Assistant Director Ms. Garcia has over 20 years experience as a housing counselor, and has worked for CRC for the past 15 years. Ms. Garcia is bilingual (Spanish and English) and has been providing direct housing counseling in both of these languages for the past 16 years – eleven of these years have also included housing counseling program management. Ms. Garcia was certified as a housing counselor in 1996 by CHAPA and re-certified in 2008. Other relevant trainings attended by Ms. Garcia include Massachusetts Homeownership Collaborative’s Homebuyer Counseling from CHAPA, First-Time Homebuyer one-on-one training (CHAPA), Foreclosure Prevention Certificate and Combating Mortgage Defaults from NeighborWorks Training Institute, Internal Revenue Service VITA site training and Tax Counseling for the Elderly (TCE) certification, and Residential Mortgage Lending Certificate from the Massachusetts Bankers Association. 

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --
Member of state association of nonprofits? No
Name of state association --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

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CEO/Executive Director/Board Comments

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Foundation Comments

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Staff Information

Number of Full Time Staff 5
Number of Part Time Staff 2
Number of Volunteers 30
Number of Contract Staff 1
Staff Retention Rate % 75%

Staff Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 1
Hispanic/Latino: 4
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 5
Male: 0
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? No
Organization has Strategic Plan? No
Years Strategic Plan Considers --
Management Succession Plan No
Business Continuity of Operations Plan --
Organization Policies And Procedures Under Development
Nondiscrimination Policy Yes
Whistle Blower Policy No
Document Destruction Policy --
Directors and Officers Insurance Policy --
State Charitable Solicitations Permit Yes
State Registration No

Risk Management Provisions

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Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Annually

Governance


Board Chair Ms. Christine DePrizio
Board Chair Company Affiliation Chelsea Public Schools
Board Chair Term Jan 2011 - Jan 2014
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Elaine Cusick Chelsea Public Schools Voting
Marilyn Garcia CRC NonVoting
Aida Hernandez Peoples Bank Voting
Luis Hernandez Chelsea Resident - Community Volunteer Voting
Martha Miranda Community Volunteer Voting
Leo Robinson Chelsea City Council Voting
Helen Zucco CRC NonVoting

Constituent Board Members

Name Company Affiliations Status
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Youth Board Members

Name Company Affiliations Status
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Advisory Board Members

Name Company Affiliations Status
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Board Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 4
Hispanic/Latino: 4
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 6
Male: 2
Not Specified 0

Board Information

Board Term Lengths 3
Board Term Limits --
Board Meeting Attendance % 80%
Written Board Selection Criteria Yes
Written Conflict Of Interest Policy No
Percentage of Monetary Contributions 50%
Percentage of In-Kind Contributions --
Constituency Includes Client Representation No

Standing Committees

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CEO/Executive Director/Board Comments

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Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2014 (%)

Expense Breakdown 2013 (%)

Expense Breakdown 2012 (%)

Fiscal Year Jan 01, 2012 to Dec 31, 2012
Projected Income $1,168,983.00
Projected Expense $898,375.00
Form 990s

2014 Form 990

2013 Form 990

2012 Form 990

2011 Form 990

2010 Form 990

Audit Documents

2014 Audit

2013 Audit

2012 Audit

2011 Review

2010 Review

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2014 2013 2012
Total Revenue $600,686 $754,072 $431,444
Total Expenses $446,137 $464,438 $413,809

Prior Three Years Revenue Sources

Fiscal Year 2014 2013 2012
Foundation and
Corporation Contributions
-- -- --
Government Contributions $417,781 $547,043 $215,301
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified $417,781 $547,043 $215,301
Individual Contributions $8,220 $41,567 --
Indirect Public Support -- -- --
Earned Revenue $174,488 $165,392 $216,110
Investment Income, Net of Losses $197 $70 $33
Membership Dues -- -- --
Special Events -- -- --
Revenue In-Kind -- -- --
Other -- -- --

Prior Three Years Expense Allocations

Fiscal Year 2014 2013 2012
Program Expense $371,558 $419,202 $356,783
Administration Expense $52,679 $45,236 $39,873
Fundraising Expense $21,900 -- $17,153
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 1.35 1.62 1.04
Program Expense/Total Expenses 83% 90% 86%
Fundraising Expense/Contributed Revenue 5% 0% 8%

Prior Three Years Assets and Liabilities

Fiscal Year 2014 2013 2012
Total Assets $1,905,894 $2,062,625 $1,459,531
Current Assets $1,058,308 $1,016,847 $342,046
Long-Term Liabilities $931,866 $1,220,502 $932,142
Current Liabilities $10,643 $33,287 $8,187
Total Net Assets $963,385 $808,836 $519,202

Prior Three Years Top Three Funding Sources

Fiscal Year 2014 2013 2012
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
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Financial Planning

Endowment Value --
Spending Policy --
Percentage(If selected) --
Credit Line Yes
Reserve Fund No
How many months does reserve cover? 0.00

Capital Campaign

Are you currently in a Capital Campaign? No
Capital Campaign Purpose --
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? --

Short Term Solvency

Fiscal Year 2014 2013 2012
Current Ratio: Current Assets/Current Liabilities 99.44 30.55 41.78

Long Term Solvency

Fiscal Year 2014 2013 2012
Long-term Liabilities/Total Assets 49% 59% 64%

CEO/Executive Director/Board Comments

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Foundation Comments

Financial summary data in charts and graphs are per the organization's IRS Form 990s.  Contributions from foundations and corporations are listed under individuals when the breakout was not available.

Documents


Other Documents

No Other Documents currently available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

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2. What are your strategies for making this happen?

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3. What are your organization’s capabilities for doing this?

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4. How will your organization know if you are making progress?

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5. What have and haven’t you accomplished so far?

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