Quaboag Valley Community Development Corporation

Analysis

Quaboag Valley Community Development Corporation is a registered charity in United States, based in Ware, MA. It received its IRS tax-exemption ruling in June 1998, 28 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Quaboag Valley Community Development Corporation reported income of $1.2m and spending of $1.2m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $945k to $1.2m (+23%), an average of +5.4% a year. The sharpest change came in the year to June 2021, when income rose by 32%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Quaboag Valley Community Development Corporation sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MA. Charities of a similar size with the same main cause include Jobs with Justice San Francisco Bay Area ($1.2m), Emerging Markets Development Corporation ($1.2m) and Jacobs Center for Neighborhood Innovation ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 9.7% of the total. Compensation of current officers, directors and key employees was $63k (5.4% of expenses). Other salaries and wages came to $374k. At year end it held assets of $2.2m against liabilities of $515k, net assets of $1.7m. It reported 24 employees.