Civic Intelligence

Quaboag Valley Community Development Corporation

990 • Fiscal year 2022 • EIN 04-3370097

Jul 01, 2021 to Jun 30, 2022 • Filed on May 12, 2023

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

70th percentile

0.22x

Higher debt load relative to assets than 70% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

79th percentile

0.47x

Higher debt load relative to revenue than 79% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

40th percentile

2.0%

Higher net margin than 40% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

50th percentile

$57,446

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

59th percentile

5.3%

Faster asset growth than 59% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

56th percentile

9.9%

Faster revenue growth than 56% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$2,164,423

Up $108,570 (+5.3%) from 2021

Net Assets

Up

$1,679,090

Up $73,061 (+4.5%) from 2021

Liabilities

Up

$485,333

Up $35,509 (+7.9%) from 2021

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin40th percentile

Revenue

Up

$1,035,215

Up $92,910 (+9.9%) from 2021

Expenses

Up

$1,014,954

Up $236,369 (+30%) from 2021

Net Income

Down

$20,261

Down $143,459 (-88%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth59th 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

2022

Assets$2,164,423
Liabilities$485,333
Net Assets$1,679,090
Open 2022 Filing

Operations Trend

Revenue Growth56th 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

2022

Revenue$1,035,215
Expenses$1,014,954
Net Income$20,261
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 12, 2023
Return Version
2021v4.0
Gross Receipts
$1,035,215
Mission and Program Overview

Mission

Economic improvement of the quaboag valley in massachusetts

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$935,115$1,049,017▲ $113,902
Land, Buildings, and Equipment, Net$877,875$865,842▼ $12,033
Accounts Receivable$168,579$125,838▼ $42,741
Cash and Non-Interest-Bearing Accounts$37,824$65,914▲ $28,090
Pledges and Grants Receivable$19,800$26,400▲ $6,600
Prepaid Expenses and Deferred Charges$6,417$8,699▲ $2,282
Inventories for Sale or Use$3,033$2,913▼ $120
Total Assets$2,055,853$2,164,423▲ $108,570
Other Assets Total$7,210$19,800▲ $12,590
Liabilities
Mortgage Notes Payable Secured by Investment Property$365,000$355,815▼ $9,185
Accounts Payable and Accrued Expenses$84,824$129,518▲ $44,694
Total Liabilities$449,824$485,333▲ $35,509
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,354,238$1,457,034▲ $102,796
Net Assets With Donor Restrictions$251,791$222,056▼ $29,735
Total Net Assets Fund Balance$1,606,029$1,679,090▲ $73,061
Total Liabilities and Net Assets / Fund Balance$2,055,853$2,164,423▲ $108,570

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$609,498$180,146$789,644
Equipment$64,918$128,014$192,932
Land$191,426-$191,426
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sheila CuddyExecutive DiFT$57,446$57,446

Board Members and Trustees

NameTitle
Vincent MccaugheyPresident
Alice DaveyDirector
Carolyn HaleyDirector
Edward HarrisonDirector
Ernest GoudreauDirector
Glenn MerkelDirector
Krista WilsonDirector
Richard Egan IiDirector
Sharon MeliDirector
Stephen QuinkDirector
Ronald ChristensenClerk
Debra ChristensenTreasurer
Robert BottomleyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$956,171
Program Service Revenue
$78,020
Investment Income
$1,003
Other Revenue
$21
All Other Contributions
$725,904
Change in Net Assets
$20,261

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,035,215
Revenue Not Reported on Form 990
$62,268
Total Revenue per Audited Statements
$1,097,483
Total Revenue per Form 990
$1,035,215
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$519,935
Other Expenses$495,019
Total Fundraising Expense$24,332
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$355,798$34,849$7,532$398,179
Current Officers, Directors, Trustees, and Key Employees$58,572$7,322$7,322$73,216
Depreciation Depletion$33,762$9,152-$42,914
Payroll Taxes$37,315$3,857$1,338$42,510
Office Expenses$25,253$7,992$1,090$34,335
Occupancy$19,962$6,654-$26,616
Other Expenses$16,615$5,539-$22,154
Insurance$15,829$5,277-$21,106
All Other Expenses$13,463-$7,000$20,463
Fees for Services Other$9,831$2,045$50$11,926
Interest$3,138$6,800-$9,938
Other Employee Benefits$6,030--$6,030
Travel$5,892--$5,892
Fees for Services Accounting$4,165$735-$4,900
Advertising$3,652--$3,652
Total Functional Expenses$893,248$97,374$24,332$1,014,954

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,024,422
Expenses per Audited Statements$1,014,954
Total Expenses per Form 990$1,014,954
Expenses Not Reported on Form 990$9,468
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
2023-05-12
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, 2021 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, 2019.”

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IRS990/LegalDomicileStateCd0MA
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt0420
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0ECONOMIC IMPROVEMENT OF THE QUABOAG VALLEY IN MASSACHUSETTS
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt06030
IRS990/OtherEmployeeBenefitsGrp/TotalAmt06030
IRS990/OtherExpensesGrp/Desc0MUNICIPAL PROJECTS
IRS990/OtherExpensesGrp/Desc1BUSINESS DEVELOPMENT SERV
IRS990/OtherExpensesGrp/Desc2WORKFORCE TRAINING
IRS990/OtherExpensesGrp/Desc3REPAIRS & MAINTENANCE
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IRS990/OtherExpensesGrp/ProgramServicesAmt224626
IRS990/OtherExpensesGrp/ProgramServicesAmt316615
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IRS990/OtherExpensesGrp/TotalAmt231778
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IRS990/OtherRevenueMiscGrp/BusinessCd0611710
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt07532
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0355798
IRS990/OtherSalariesAndWagesGrp/TotalAmt0398179
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt01338
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03857
IRS990/PayrollTaxesGrp/ProgramServicesAmt037315
IRS990/PayrollTaxesGrp/TotalAmt042510
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt019800
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt06417
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08699
IRS990/PrincipalOfficerNm0VINCENT MCCAUGHEY
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt128100
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYOtherRevenueAmt028
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IRS990/PYRevenuesLessExpensesAmt0163720
IRS990/PYSalariesCompEmpBnftPaidAmt0458927
IRS990/PYTotalExpensesAmt0778585
IRS990/PYTotalRevenueAmt0942305
IRS990/ReconcilationRevenueExpnssAmt020261
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt015000
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt079044
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0935115
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01049017
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME 9,563 PROGRAM FEES 177,209
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0956171
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0855743
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0546803
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0870681
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01052300
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04281698
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt050923
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt046054
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt054731
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt043583
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt033588
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0228879
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0418190
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt046667
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt030687
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IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04281698
IRS990ScheduleA/TotalSupportAmt04697349
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0180146
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IRS990ScheduleD/DonatedServicesAndUseFcltsAmt062268
IRS990ScheduleD/DonatedServicesUseFcltsAmt09468
IRS990ScheduleD/EquipmentGrp/BookValueAmt064918
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0128014
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0191426
IRS990ScheduleD/RevenueNotReportedAmt062268
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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, 2021 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, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RONALD CHRISTENSEN DEBRA CHRISTENSEN DIRECTOR DIRECTOR FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION HAS THE POWER TO ELECT MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE RETURN IS PROVIDED TO THE ENTIRE BOARD TO REVIEW PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ONGOING COMMUNICATIONS AND REVIEW OF POLICY IN EXISTENCE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATON DETERMINED BY THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DOCUMENTS ARE AVAILABLE UPON REQUEST

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,164,423
Liabilities
$485,333
Net assets
$1,679,090
Revenue
$1,035,215
Expenses
$1,014,954
Net income
$20,261
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
2022Detailed filing. Detailed filing data is available for this year.$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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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
Peer Organizations

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