Quaboag Valley Community Development Corporation

Organization Overview

Quaboag Valley Community Development Corporation is located in Ware, MA. The organization was established in 1998. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 06/2022, Quaboag Valley Community Development Corporation employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Quaboag Valley Community Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Quaboag Valley Community Development Corporation generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $1.0m during the year ending 06/2022. While expenses have increased by 16.3% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

ECONOMIC IMPROVEMENT OF THE QUABOAG VALLEY IN MASSACHUSETTS

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE SUPPORT TO BUSINESSES LOCATED IN THE QUABOAG REGION AND SUPPORT FOR THE SMALL BUSINESS LOAN PROGRAM OF QUABOAG VALLEY BUSINESS ASSISTANCE PROGRAM BY INVESTING CAPITAL IN SMALL BUSINESSES THAT ARE UNABLE TO OBTAIN CAPITAL THROUGH CONVENTIONAL MEANS. IN ADDITION, WE ENGAGE IN COMMUNITY ECONOMIC DEVELOPMENT ACTIVITIES THAT BENEFIT LOW INCOME UNDERSERVED RESIDENTS WITH A GOAL OF REDUCING UNEMPLOYMENT, REDUCING UNDEREMPLOYMENT AND PROVIDING JOB TRAINING AND EDUCATION.


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Board, Officers & Key Employees

Name (title)Compensation
Sheila Cuddy
Executive Di
$57,446
Robert Bottomley
Vice Preside
$0
Debra Christensen
Treasurer
$0
Ronald Christensen
Clerk
$0
Alice Davey
Director
$0
Ernest Goudreau
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$420
Fundraising events$0
Related organizations$15,000
Government grants $214,847
All other contributions, gifts, grants, and similar amounts not included above$725,904
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$956,171
Total Program Service Revenue$78,020
Investment income $1,003
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,035,215

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