Civic Intelligence

Quaboag Valley Community Development Corporation

990 • Fiscal year 2020 • EIN 04-3370097

Jul 01, 2019 to Jun 30, 2020 • Filed on May 17, 2021

Organization ProfileWWW.QVCDC.ORG
23 West Main Street Suite 1Ware, MA 01082

(413) 967-3001

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

65th percentile

0.23x

Higher debt load relative to assets than 65% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

80th percentile

0.61x

Higher debt load relative to revenue than 80% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

42nd percentile

1.7%

Higher net margin than 42% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

52nd percentile

$63,641

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 8.9% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

57th percentile

9.0%

Faster asset growth than 57% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

20th percentile

-25%

Faster revenue growth than 20% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$1,878,962

Up $155,663 (+9.0%) from 2019

Net Assets

Up

$1,442,309

Up $12,191 (+0.9%) from 2019

Liabilities

Up

$436,653

Up $143,472 (+49%) from 2019

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin42nd percentile

Revenue

Down

$712,701

Down $232,250 (-25%) from 2019

Expenses

Up

$700,510

Up $86,862 (+14%) from 2019

Net Income

Down

$12,191

Down $319,112 (-96%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $497,339Liabilities 2011: $316,992Net Assets 2011: $180,3472011Assets 2012: $804,164Liabilities 2012: $447,383Net Assets 2012: $356,7812012Assets 2013: $768,431Liabilities 2013: $430,160Net Assets 2013: $338,2712013Assets 2014: $752,654Liabilities 2014: $288,259Net Assets 2014: $464,3952014Assets 2015: $721,598Liabilities 2015: $294,398Net Assets 2015: $427,2002015Assets 2016: $876,923Liabilities 2016: $313,250Net Assets 2016: $563,6732016Assets 2017: $911,596Liabilities 2017: $310,479Net Assets 2017: $601,1172017Assets 2018: $1,495,891Liabilities 2018: $397,075Net Assets 2018: $1,098,8162018Assets 2019: $1,723,299Liabilities 2019: $293,181Net Assets 2019: $1,430,1182019Assets 2020: $1,878,962Liabilities 2020: $436,653Net Assets 2020: $1,442,3092020Assets 2021: $2,055,853Liabilities 2021: $449,824Net Assets 2021: $1,606,0292021Assets 2022: $2,164,423Liabilities 2022: $485,333Net Assets 2022: $1,679,0902022Assets 2023: $2,176,851Liabilities 2023: $515,455Net Assets 2023: $1,661,3962023Assets 2024: $2,354,270Liabilities 2024: $451,932Net Assets 2024: $1,902,3382024

Highlighted filing

2020

Assets$1,878,962
Liabilities$436,653
Net Assets$1,442,309
Open 2020 Filing

Operations Trend

Revenue Growth20th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2011: $237,8012011Expenses 2012: $208,6432012Revenue 2013: $315,176Expenses 2013: $333,686Net Income 2013: -$18,5102013Revenue 2014: $374,330Expenses 2014: $374,585Net Income 2014: -$2552014Revenue 2015: $381,474Expenses 2015: $418,669Net Income 2015: -$37,1952015Revenue 2016: $539,891Expenses 2016: $476,018Net Income 2016: $63,8732016Revenue 2017: $610,167Expenses 2017: $572,723Net Income 2017: $37,4442017Revenue 2018: $1,114,262Expenses 2018: $616,563Net Income 2018: $497,6992018Revenue 2019: $944,951Expenses 2019: $613,648Net Income 2019: $331,3032019Revenue 2020: $712,701Expenses 2020: $700,510Net Income 2020: $12,1912020Revenue 2021: $942,305Expenses 2021: $778,585Net Income 2021: $163,7202021Revenue 2022: $1,035,215Expenses 2022: $1,014,954Net Income 2022: $20,2612022Revenue 2023: $1,164,424Expenses 2023: $1,182,118Net Income 2023: -$17,6942023Revenue 2024: $1,278,139Expenses 2024: $1,089,997Net Income 2024: $188,1422024

Highlighted filing

2020

Revenue$712,701
Expenses$700,510
Net Income$12,191
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2021
Return Version
2019v5.0
Gross Receipts
$712,701
Mission and Program Overview

Mission

Economic improvement of the quaboag valley in massachusetts

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$891,954$892,756▲ $802
Savings and Temporary Cash Investments$637,090$574,479▼ $62,611
Other Notes and Loans Receivable, Net-$149,900-
Cash and Non-Interest-Bearing Accounts$79,687$120,105▲ $40,418
Accounts Receivable$29,807$72,678▲ $42,871
Pledges and Grants Receivable$72,600$26,400▼ $46,200
Prepaid Expenses and Deferred Charges$10,586$11,157▲ $571
Inventories for Sale or Use$1,575$1,467▼ $108
Total Assets$1,723,299$1,878,962▲ $155,663
Other Assets Total-$30,020-
Liabilities
Mortgage Notes Payable Secured by Investment Property$231,224$223,943▼ $7,281
Unsecured Notes Loans Payable-$150,000-
Accounts Payable and Accrued Expenses$61,957$62,710▲ $753
Total Liabilities$293,181$436,653▲ $143,472
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,277,235$1,271,272▼ $5,963
Net Assets With Donor Restrictions$152,883$171,037▲ $18,154
Total Net Assets Fund Balance$1,430,118$1,442,309▲ $12,191
Total Liabilities and Net Assets / Fund Balance$1,723,299$1,878,962▲ $155,663

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$650,479$139,165$789,644
Land$191,426-$191,426
Equipment$50,851$98,384$149,235
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sheila CuddyExecutive DiFT$63,641$63,641

Board Members and Trustees

NameTitle
Vincent MccaugheyPresident
Alice DaveyDirector
Carolyn HaleyDirector
Ernest GoudreauDirector
Glenn MerkelDirector
Krista WilsonDirector
Richard Eagan IiiDirector
Robert BottomleyDirector
Sharon MeliDirector
Stephen QuinkDirector
Ronald ChristensenClerk
Debra ChristensenTreasurer
Edward HarrisonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$546,803
Program Service Revenue
$98,435
Investment Income
$2,361
Other Revenue
$65,102
All Other Contributions
$209,718
Change in Net Assets
$12,191

Audited Revenue Reconciliation

Revenue per Audited Statements
$712,701
Total Revenue per Audited Statements
$712,701
Total Revenue per Form 990
$712,701
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$351,039
Other Expenses$349,471
Total Fundraising Expense$20,052
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$205,577$39,674$5,533$250,784
Current Officers, Directors, Trustees, and Key Employees$50,913$6,364$6,364$63,641
Depreciation Depletion$30,145$7,468-$37,613
Occupancy$29,383$3,107-$32,490
Payroll Taxes$23,431$4,193$1,084$28,708
Other Expenses$21,916$13,427-$21,916
Office Expenses$13,264$8,527-$21,791
Insurance$14,321$2,569-$16,890
All Other Expenses$5,700$5,450-$11,150
Interest-$9,774-$9,774
Other Employee Benefits$7,511-$395$7,906
Travel$5,186$1,729-$6,915
Fees for Services Other--$6,676$6,676
Fees for Services Accounting$2,873$127-$3,000
Advertising$965$965-$1,930
Fees for Services Legal-$380-$380
Total Functional Expenses$564,487$115,971$20,052$700,510

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$700,510
Total Expenses per Audited Statements$700,510
Total Expenses per Form 990$700,510
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
Yes
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 2

“Ronald christensen debra christensen director director family relationship”

Form 990, Page 6, Part VI, Line 6

“MEMBERS”

Form 990, Page 6, Part VI, Line 7A

“Organization has the power to elect members”

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

“A copy of the return is provided to the entire board to review prior to filing the return.”

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

“Ongoing communications and review of policy in existence”

Form 990, Page 6, Part VI, Line 15A

“Compensaton determined by the board of directors”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Quaboag Valley Community
EIN
04-3370097
Phone
4139673001
Address
23 WEST MAIN STREET SUITE 1, WARE, MA 01082

Signing Officer

Name
Sheila Cuddy
Title
Executive Director
Phone
4139673001
Signed
2021-05-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vincent Mccaughey
Formed
1997
Legal Domicile
Ma
Voting Board Members
13
Independent Board Members
13
Employees
24
Volunteers
54

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, 2020 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, 2017.”

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IRS990/MinutesOfCommitteesInd0true
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IRS990/OtherExpensesGrp/ProgramServicesAmt210996
IRS990/OtherExpensesGrp/ProgramServicesAmt321916
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IRS990/OtherExpensesGrp/TotalAmt145993
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt05533
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt039674
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0250784
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0149900
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt01084
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04193
IRS990/PayrollTaxesGrp/ProgramServicesAmt023431
IRS990/PayrollTaxesGrp/TotalAmt028708
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt072600
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt026400
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt010586
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt011157
IRS990/PrincipalOfficerNm0VINCENT MCCAUGHEY
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
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IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1PROGRAM FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt052370
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt146065
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt052370
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt146065
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0870681
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01023
IRS990/PYOtherExpensesAmt0284112
IRS990/PYOtherRevenueAmt01412
IRS990/PYProgramServiceRevenueAmt071835
IRS990/PYRevenuesLessExpensesAmt0331303
IRS990/PYSalariesCompEmpBnftPaidAmt0329536
IRS990/PYTotalExpensesAmt0613648
IRS990/PYTotalRevenueAmt0944951
IRS990/ReconcilationRevenueExpnssAmt012191
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt015000
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0101398
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0637090
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0574479
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME 24,514 PROGRAM FEES 107,667
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0546803
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0870681
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01052300
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0565470
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0492469
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt054731
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt043583
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt033588
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt035776
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt029889
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0197567
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0240168
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt046667
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt017533
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0132181
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03527723
IRS990ScheduleA/TotalSupportAmt03857471
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0139165
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IRS990ScheduleD/EquipmentGrp/BookValueAmt050851
IRS990ScheduleD/EquipmentGrp/DepreciationAmt098384
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IRS990ScheduleD/LandGrp/BookValueAmt0191426
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0191426
IRS990ScheduleD/RevenueSubtotalAmt0712701
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, 2020 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, 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RONALD CHRISTENSEN DEBRA CHRISTENSEN DIRECTOR DIRECTOR FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION HAS THE POWER TO ELECT MEMBERS

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,878,962
Liabilities
$436,653
Net assets
$1,442,309
Revenue
$712,701
Expenses
$700,510
Net income
$12,191
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.35$0.45$1.90$1.28$1.09$0.19
2023Detailed filing. Detailed filing data is available for this year.$2.18$0.52$1.66$1.16$1.18$0.02
2022Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$2.16$0.49$1.68$1.04$1.01$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.06$0.45$1.61$0.94$0.78$0.16
2020Detailed filing. Detailed filing data is available for this year.$1.88$0.44$1.44$0.71$0.70$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.72$0.29$1.43$0.94$0.61$0.33
2018Summary only. Only limited summary data is available for this year.$1.50$0.40$1.10$1.11$0.62$0.50
2017Summary only. Only limited summary data is available for this year.$0.91$0.31$0.60$0.61$0.57$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.88$0.31$0.56$0.54$0.48$0.06
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.72$0.29$0.43$0.38$0.42$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.75$0.29$0.46$0.37$0.37$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.43$0.34$0.32$0.33$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$0.45$0.36$0.21
2011XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.50$0.32$0.18$0.24