Civic Intelligence

Quaboag Valley Community Development Corporation

990 • Fiscal year 2023 • EIN 04-3370097

Jul 01, 2022 to Jun 30, 2023 • Filed on May 13, 2024

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

0.24x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

78th percentile

0.44x

Higher debt load relative to revenue than 78% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

36th percentile

-1.5%

Higher net margin than 36% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

63rd percentile

$90,827

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

39th percentile

0.6%

Faster asset growth than 39% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

58th percentile

12%

Faster revenue growth than 58% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$2,176,851

Up $12,428 (+0.6%) from 2022

Net Assets

Down

$1,661,396

Down $17,694 (-1.1%) from 2022

Liabilities

Up

$515,455

Up $30,122 (+6.2%) from 2022

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin36th percentile

Revenue

Up

$1,164,424

Up $129,209 (+12%) from 2022

Expenses

Up

$1,182,118

Up $167,164 (+16%) from 2022

Net Income

Down

-$17,694

Down $37,955 (-187%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth39th 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

2023

Assets$2,176,851
Liabilities$515,455
Net Assets$1,661,396
Open 2023 Filing

Operations Trend

Revenue Growth58th 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

2023

Revenue$1,164,424
Expenses$1,182,118
Net Income-$17,694
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 13, 2024
Return Version
2022v5.0
Gross Receipts
$1,164,424
Mission and Program Overview

Mission

Economic improvement of the quaboag valley in massachusetts

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,049,017$1,076,049▲ $27,032
Land, Buildings, and Equipment, Net$865,842$839,644▼ $26,198
Cash and Non-Interest-Bearing Accounts$65,914$137,790▲ $71,876
Accounts Receivable$125,838$91,389▼ $34,449
Pledges and Grants Receivable$26,400$19,800▼ $6,600
Prepaid Expenses and Deferred Charges$8,699$8,596▼ $103
Inventories for Sale or Use$2,913$3,583▲ $670
Total Assets$2,164,423$2,176,851▲ $12,428
Other Assets Total$19,800--
Liabilities
Mortgage Notes Payable Secured by Investment Property$355,815$346,943▼ $8,872
Accounts Payable and Accrued Expenses$129,518$158,512▲ $28,994
Deferred Revenue-$10,000-
Total Liabilities$485,333$515,455▲ $30,122
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,457,034$1,477,162▲ $20,128
Net Assets With Donor Restrictions$222,056$184,234▼ $37,822
Total Net Assets Fund Balance$1,679,090$1,661,396▼ $17,694
Total Liabilities and Net Assets / Fund Balance$2,164,423$2,176,851▲ $12,428

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$589,007$200,637$789,644
Equipment$59,211$144,906$204,117
Land$191,426-$191,426
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sheila CuddyExecutive DiFT$90,827-$90,827
Sheila CuddyExecutive Director-$75,827$15,000$90,827
Melissa FalesExecutive DiFT$61,014-$61,014

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,044,716
Program Service Revenue
$112,635
Investment Income
$7,032
Other Revenue
$41
All Other Contributions
$818,209
Change in Net Assets
$-17,694

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,164,424
Revenue Not Reported on Form 990
$4,605
Total Revenue per Audited Statements
$1,169,029
Total Revenue per Form 990
$1,164,424
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$596,023
Salaries, Compensation, and Employee Benefits$586,095
Total Fundraising Expense$20,030
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$329,842$33,411$10,860$374,113
Comp Disqual Persons$79,928$8,174$2,724$90,826
Current Officers, Directors, Trustees, and Key Employees$55,724$5,699$1,900$63,323
Payroll Taxes$44,086$4,753$1,585$50,424
Occupancy$28,728$9,576-$38,304
Depreciation Depletion$29,163$8,220-$37,383
Office Expenses$24,044$9,049$815$33,908
Other Expenses$20,884$6,795-$27,679
Insurance$16,523$5,509-$22,032
All Other Expenses$12,175$4,061$2,146$18,382
Interest$3,093$8,043-$11,136
Travel$8,023--$8,023
Other Employee Benefits$7,409--$7,409
Fees for Services Accounting$4,590$810-$5,400
Advertising$3,455--$3,455
Fees for Services Other$451$79-$530
Total Functional Expenses$1,057,909$104,179$20,030$1,182,118

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,186,723
Expenses per Audited Statements$1,182,118
Total Expenses per Form 990$1,182,118
Expenses Not Reported on Form 990$4,605
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
Melissa Fales
Title
Executive Director
Phone
4139673001
Signed
2024-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vincent Mccaughey
Formed
1997
Legal Domicile
Ma
Voting Board Members
10
Independent Board Members
10
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, 2023 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, 2020.”

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IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME 2,104 PROGRAM FEES 218,831
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01044716
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0956171
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0546803
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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, 2023 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, 2020.
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
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

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,176,851
Liabilities
$515,455
Net assets
$1,661,396
Revenue
$1,164,424
Expenses
$1,182,118
Net income
-$17,694
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
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