Chelsea Improvement Trust: Nonprofit Profile, Financials & Form 990 (EIN 20-1611981)

Revenue by fiscal year
FY2020	$16K
FY2021	$107K
FY2022	$11K
FY2023	$49K
FY2024	$57K
FY2025	$28K

Expenses by fiscal year
FY2020	$36K
FY2021	$6K
FY2022	$7K
FY2023	$7K
FY2024	$8K
FY2025	$9K

Net assets by fiscal year
FY2020	$1.8M
FY2021	$1.8M
FY2022	$1.7M
FY2023	$1.8M
FY2024	$1.9M
FY2025	$1.9M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2005.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $9K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation

Jared Gavit

Trustee

$0Pt VII · Sec A

Larry Copeland

Trustee

$0Pt VII · Sec A

Lisa Wooten

Trustee

$0Pt VII · Sec A

Terry Helms

Trustee

$0Pt VII · Sec A

Jarrod Holman

Trustee

$0Pt VII · Sec A

Robert Crum

Trustee

$0Pt VII · Sec A

See Chelsea Improvement Trust executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds public functions and improvements for Chelsea, Oklahoma.

Questions for Chelsea Improvement Trust

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Provided by the organization

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1 program · $9K · in their own filed words · FY2025

01

To provide funds for the furtherance and accomplishment of any authorized and proper public function or purpose of the Town of Chelsea, Oklahoma including, but not limited to, funding operating expenses and improving buildings, infrastructure, rolling stock, and facilities of Chelsea, Oklahoma

$9Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking

Grants paid · 1 grant · $30K · 2020–2020

Town of Chelsea OklahomaFY2020$30,000

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$28K

Ln 12

Investment incomeLn 3$28K

Money outPt IX

$9K

Ln 25

Programscol B$9K

Owns and owesPt X

$1.9M

net assets · Ln 32

Total assetsLn 16$1.9M

LiabilitiesLn 26$0

PeoplePt VI, VII

6

listed · VII A

PaidVII A0

Voting boardVI 1a5

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Government grantsLn 1e$0

Noncash giftsLn 1g$0

Fundraising eventsLn 1c$0

Investment incomeLn 3$28K

Total revenueLn 12$28K

Assets in detailPt X, end of year

InvestmentsLn 11–13$1.9M

Other assetsLn 15$0

Total assetsLn 16$1.9M

LiabilitiesLn 26$0

Net assetsLn 32$1.9M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
InvestmentsLn 11–13	$1.9M	$1.9M
Total assetsLn 16	$1.9M	$1.9M
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$1.9M	$1.9M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Management feesLn 11a	$9K	$9K
Total functional expensesLn 25	$9K	$9K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$28K	$9K	$20K	$1.9M	990 PDF
FY2024	$57K	$8K	$49K	$1.9M	990 PDF
FY2023	$49K	$7K	$42K	$1.8M	990 PDF
FY2022	$11K	$7K	$4K	$1.7M	990 PDF
FY2021	$107K	$6K	$101K	$1.8M	990 PDF
FY2020	$16K	$36K	−$20K	$1.8M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2025 990 (6 parts)

Part I · Summary $28,476 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $56,541$28,476

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $56,541$28,476

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $8,011$8,629

I-18 Total expensesPrior year $8,011$8,629

I-19 Revenue less expensesPrior year $48,530$19,847

Part VI · Governance 0 of 5 board members independent, 4 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members0

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $28,476 across 11 lines filed

VIII-1a Federated campaigns$0

VIII-1b Membership dues$0

VIII-1c Fundraising events$0

VIII-1d Related organizations$0

VIII-1e Government grants$0

VIII-1f All other contributions, gifts and grants$0

VIII-1g Noncash contributions (included above)$0

VIII-1h Total contributions, gifts and grants$0

VIII-3 Investment incomeRelated to mission $28,476 · Unrelated business $0 · Excluded from tax $0$28,476

VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0

VIII-12 Total revenueRelated to mission $28,476 · Unrelated business $0 · Excluded from tax $0$28,476

Part IX · Statement of functional expenses $8,629 across 1 line filed

IX-11a Management feesPrograms $8,629$8,629

IX-25 Total functional expensesPrograms $8,629 · Management $0 · Fundraising $0$8,629

Part X · Balance sheet $1,902,654 assets, 14 lines filed

X-11 Publicly traded securitiesStart of year $1,851,287$1,902,654

X-12 Other securitiesStart of year $0$0

X-13 Program-related investmentsStart of year $0$0

X-14 Intangible assetsStart of year $0$0

X-15 Other assetsStart of year $0$0

X-16 Total assetsStart of year $1,851,287$1,902,654

X-17 Accounts payable and accrued expensesStart of year $0$0

X-18 Grants payableStart of year $0$0

X-19 Deferred revenueStart of year $0$0

X-20 Tax-exempt bond liabilitiesStart of year $0$0

X-24 Unsecured notes and loans payableStart of year $0$0

X-26 Total liabilitiesStart of year $0$0

X-32 Total net assets or fund balancesStart of year $1,851,287$1,902,654

X-33 Total liabilities and net assetsStart of year $1,851,287$1,902,654

Part XI · Reconciliation of net assets $1,902,654 net assets at year end

XI-1 Total revenue$28,476

XI-2 Total expenses$8,629

XI-3 Revenue less expenses$19,847

XI-4 Net assets at start of year$1,851,287

XI-5 Net unrealized gains (losses) on investments$31,520

XI-6 Donated services and use of facilities$0

XI-7 Investment expenses$0

XI-8 Prior period adjustments$0

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,902,654

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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Chelsea Improvement Trust

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Chelsea Improvement Trust

Funders

Grants

Related Organizations

By the numbers

Filing history

Schedules filed Part IV