Civic Intelligence

Quaboag Valley Business Assistance Corporation

EIN 04-3268142 • 501(c)3 • Ware, MA

Profile

Economic assistance and development and providing loans to local businesses by grants and by line of credit from area banks.

23 West Main Street Suite 1Ware, MA 01082

www.qvcdc.org

Siviq Scores

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

Liabilities / Assets

46th percentile

0.05x

Higher debt load relative to assets than 46% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

82nd percentile

0.53x

Higher debt load relative to revenue than 82% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

87th percentile

44%

Higher net margin than 87% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

29th percentile

-3.0%

Faster asset growth than 29% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

22nd percentile

-12%

Faster revenue growth than 22% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets46th percentile

Assets

Down

$2,214,471

Down $68,179 (-3.0%) from 2023

Liabilities

Down

$102,459

Down $153,516 (-60%) from 2023

Net Assets

Up

$2,112,012

Up $85,337 (+4.2%) from 2023

Operations
Liabilities / Revenue82nd percentileNet Margin87th percentile

Revenue

Down

$193,243

Down $25,688 (-12%) from 2023

Expenses

Down

$107,906

Down $95,104 (-47%) from 2023

Net Income

Up

$85,337

Up $69,416 (+436%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth29th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,224,493Liabilities 2011: $726,045Net Assets 2011: $498,4482011Assets 2012: $1,215,651Liabilities 2012: $742,603Net Assets 2012: $473,0482012Assets 2013: $1,150,247Liabilities 2013: $666,552Net Assets 2013: $483,6952013Assets 2014: $1,793,932Liabilities 2014: $402,415Net Assets 2014: $1,391,5172014Assets 2015: $1,715,788Liabilities 2015: $423,847Net Assets 2015: $1,291,9412015Assets 2016: $1,484,682Liabilities 2016: $326,600Net Assets 2016: $1,158,0822016Assets 2017: $1,694,876Liabilities 2017: $262,790Net Assets 2017: $1,432,0862017Assets 2018: $1,698,903Liabilities 2018: $229,416Net Assets 2018: $1,469,4872018Assets 2019: $1,822,152Liabilities 2019: $169,987Net Assets 2019: $1,652,1652019Assets 2020: $1,919,804Liabilities 2020: $191,488Net Assets 2020: $1,728,3162020Assets 2021: $1,911,936Liabilities 2021: $212,208Net Assets 2021: $1,699,7282021Assets 2022: $2,249,740Liabilities 2022: $238,986Net Assets 2022: $2,010,7542022Assets 2023: $2,282,650Liabilities 2023: $255,975Net Assets 2023: $2,026,6752023Assets 2024: $2,214,471Liabilities 2024: $102,459Net Assets 2024: $2,112,0122024

Highlighted filing

2024

Assets$2,214,471
Liabilities$102,459
Net Assets$2,112,012
Open 2024 Filing

Operations Trend

Revenue Growth22nd percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2011: $111,5402011Expenses 2012: $87,3682012Revenue 2013: $97,483Expenses 2013: $86,836Net Income 2013: $10,6472013Revenue 2014: $659,254Expenses 2014: $196,391Net Income 2014: $462,8632014Revenue 2015: $53,460Expenses 2015: $153,036Net Income 2015: -$99,5762015Revenue 2016: $45,831Expenses 2016: $179,691Net Income 2016: -$133,8602016Revenue 2017: $347,053Expenses 2017: $73,049Net Income 2017: $274,0042017Revenue 2018: $96,802Expenses 2018: $59,401Net Income 2018: $37,4012018Revenue 2019: $276,000Expenses 2019: $93,322Net Income 2019: $182,6782019Revenue 2020: $199,940Expenses 2020: $123,789Net Income 2020: $76,1512020Revenue 2021: $80,140Expenses 2021: $108,728Net Income 2021: -$28,5882021Revenue 2022: $541,657Expenses 2022: $230,631Net Income 2022: $311,0262022Revenue 2023: $218,931Expenses 2023: $203,010Net Income 2023: $15,9212023Revenue 2024: $193,243Expenses 2024: $107,906Net Income 2024: $85,3372024

Highlighted filing

2024

Revenue$193,243
Expenses$107,906
Net Income$85,337
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,214,471
Liabilities
$102,459
Net assets
$2,112,012
Revenue
$193,243
Expenses
$107,906
Net income
$85,337
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.21$0.10$2.11$0.19$0.11$0.09
2023Detailed filing. Detailed filing data is available for this year.$2.28$0.26$2.03$0.22$0.20$0.02
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.25$0.24$2.01$0.54$0.23$0.31
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.91$0.21$1.70$0.08$0.11$0.03
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.92$0.19$1.73$0.20$0.12$0.08
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.82$0.17$1.65$0.28$0.09$0.18
2018Summary only. Only limited summary data is available for this year.$1.70$0.23$1.47$0.10$0.06$0.04
2017Summary only. Only limited summary data is available for this year.$1.69$0.26$1.43$0.35$0.07$0.27
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.48$0.33$1.16$0.05$0.18$0.13
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.72$0.42$1.29$0.05$0.15$0.10
2014Detailed filing. Detailed filing data is available for this year.$1.79$0.40$1.39$0.66$0.20$0.46
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.15$0.67$0.48$0.10$0.09$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.22$0.74$0.47$0.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.22$0.73$0.50$0.11
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 9, 2025
Return Version
2023v6.0
Gross Receipts
$193,243
Mission and Program Overview

Mission

Economic assistance and developpment

Economic assistance and development and providing loans to local businesses

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$995,819$1,274,268▲ $278,449
Other Notes and Loans Receivable, Net$740,051$603,822▼ $136,229
Land, Buildings, and Equipment, Net$329,900$317,191▼ $12,709
Cash and Non-Interest-Bearing Accounts$173,860$15,049▼ $158,811
Pledges and Grants Receivable$25,000$299▼ $24,701
Total Assets$2,282,650$2,214,471▼ $68,179
Other Assets Total$18,020$3,842▼ $14,178
Liabilities
Unsecured Notes Loans Payable$144,259$57,146▼ $87,113
Deferred Revenue$100,000$45,000▼ $55,000
Accounts Payable and Accrued Expenses$11,716$313▼ $11,403
Total Liabilities$255,975$102,459▼ $153,516
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,168,694$1,145,788▼ $22,906
Net Assets Without Donor Restrictions$857,981$966,224▲ $108,243
Total Net Assets Fund Balance$2,026,675$2,112,012▲ $85,337
Total Liabilities and Net Assets / Fund Balance$2,282,650$2,214,471▼ $68,179

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$185,468$115,938$301,406
Buildings$122,726$81,817$204,543
Equipment$8,997$13,197$22,194
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Vincent MccaugheyPresident
Carolyn HaleyDirector
Charles LaskDirector
Daniel HeneyDirector
Glenn MerkelDirector
James MetcalfDirector
Ronald ChristensenClerk
Melissa FalesExecutive Di
Richard Egan IiTreasurer
Robert BottomleyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$130,528
Program Service Revenue
$54,173
Investment Income
$2,236
Other Revenue
$6,306
Change in Net Assets
$85,337

Audited Revenue Reconciliation

Revenue per Audited Statements
$193,243
Total Revenue per Audited Statements
$193,243
Total Revenue per Form 990
$193,243
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$107,906
Total Fundraising Expense$750
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$12,709-$12,709
Fees for Services Accounting$5,525$975-$6,500
Other Expenses$1,178$1,500$750$1,178
Interest$1,155--$1,155
Fees for Services Legal-$15-$15
Total Functional Expenses$80,137$27,019$750$107,906

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$107,906
Total Expenses per Audited Statements$107,906
Total Expenses per Form 990$107,906
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The board reviews the tax return prior to filing with the taxing authorities.”

Form 990, Page 6, Part VI, Line 12C

“There is ongoing communications and review of the policy”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Quaboag Valley Business Assistance
EIN
04-3268142
Phone
4139673001
Address
23 WEST MAIN STREET SUITE 1, WARE, MA 01082

Signing Officer

Name
Melissa Fales
Title
Executive Director
Phone
4139673001
Signed
2025-05-09

Organization Details

Principal Officer
Vincent Mccaughey
Formed
1995
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Burkhart Pizzanelli Pc
Address
201 PARK AVE SUITE 2, WEST SPRINGFIELD, MA 01089-1597
Preparer
Julie Quink
Phone
4137349040
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is a not-for-profit corporation organized under massachusetts general laws, chapter 180. The organization is classified as a 501(c)(3) organization under the internal revenue code. As such, the organization is exempt from federal and state corporate income taxes and various federal and state excise and sales taxes. The organization would recognize interest and penalties associated with any uncertain tax positions as interest and other expense, respectively, if applicable. As of june 30, 2024 the organization has not recorded any amounts related to unrecognized income tax benefits or accrued interest and penalties. The organization's informational returns are subject to examination by taxing authorities for all years ending on or after june 30, 2021.”

Raw XML AppendixShowing 400 of 431 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.

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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11500
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IRS990/OtherExpensesGrp/ProgramServicesAmt112750
IRS990/OtherExpensesGrp/ProgramServicesAmt26335
IRS990/OtherExpensesGrp/ProgramServicesAmt31178
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IRS990/OtherExpensesGrp/TotalAmt115000
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IRS990/PYContributionsGrantsAmt0170061
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IRS990/PYInvestmentIncomeAmt01244
IRS990/PYOtherExpensesAmt0203010
IRS990/PYOtherRevenueAmt06347
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IRS990/PYRevenuesLessExpensesAmt015921
IRS990/PYTotalExpensesAmt0203010
IRS990/PYTotalRevenueAmt0218931
IRS990/ReconcilationRevenueExpnssAmt085337
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0995819
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01274268
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PROGRAM SERVICE REVENUE 242,984 OTHER INCOME 27,701
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0659
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt050409
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt013197
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0115938
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0301406
IRS990ScheduleD/RevenueSubtotalAmt0193243
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NOT-FOR-PROFIT CORPORATION ORGANIZED UNDER MASSACHUSETTS GENERAL LAWS, CHAPTER 180. THE ORGANIZATION IS CLASSIFIED AS A 501(C)(3) ORGANIZATION UNDER THE INTERNAL REVENUE CODE. AS SUCH, THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE CORPORATE INCOME TAXES AND VARIOUS FEDERAL AND STATE EXCISE AND SALES TAXES. THE ORGANIZATION WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY UNCERTAIN TAX POSITIONS AS INTEREST AND OTHER EXPENSE, RESPECTIVELY, IF APPLICABLE. AS OF JUNE 30, 2024 THE ORGANIZATION HAS NOT RECORDED ANY AMOUNTS RELATED TO UNRECOGNIZED INCOME TAX BENEFITS OR ACCRUED INTEREST AND PENALTIES. THE ORGANIZATION'S INFORMATIONAL RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR ALL YEARS ENDING ON OR AFTER JUNE 30, 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt0107906
IRS990ScheduleD/TotalRevenuePerForm990Amt0193243
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0193243
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0107906
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD REVIEWS THE TAX RETURN PRIOR TO FILING WITH THE TAXING AUTHORITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE IS ONGOING COMMUNICATIONS AND REVIEW OF THE POLICY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0GRANT & ADMIN SERVICES
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1QUABOAG VALLEY COMMUNITY DEVELOP
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