Overview
What is Quaboag Valley Community Development Corporation?
Quaboag Valley Community Development Corporation, based in Ware, Massachusetts, is a nonprofit organization with a mission to boost the economic well-being of the Quaboag Valley region. They achieve this by providing support to local businesses, investing in small enterprises that struggle to secure funding through traditional means, and engaging in community economic development activities. Their initiatives aim to reduce unemployment and underemployment, and offer job training and education to underserved residents. The corporation operates with a dedicated team of 24 individuals.
Official website here: www.qvcdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Quaboag Valley Community Development Corporation (QVCDC) has achieved a Four-Star rating from Charity Navigator, indicating exceptional accountability and financial health. The organization demonstrates a strong commitment to transparency, with 100% independent board members and a robust oversight structure. Their financial management is reflected in a program expense ratio of 86.85%, ensuring a significant portion of their funding directly supports their mission.
User feedback from Great Nonprofits highlights the positive impact of QVCDC's consulting services, particularly for small businesses. One user shared their experience working with a consultant who provided valuable assistance with QuickBooks, helping them navigate complex financial processes. This kind of personalized support has left clients feeling more confident and better equipped to manage their businesses.
While the feedback is overwhelmingly positive, potential limitations are not explicitly noted in the available data. However, as with any nonprofit, continued engagement with the community and adaptation to changing needs will be essential for sustained success. Overall, QVCDC appears to be a reliable resource for local business development.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
What do the Facebook reviews say about Quaboag Valley Community Development Corporation?
There are currently two reviews available for Quaboag Valley Community Development Corporation on Facebook, both of which express a strong appreciation for the organization. One reviewer enthusiastically emphasizes their commitment to assisting both new and established businesses, highlighting the supportive nature of the staff.
Although the nonprofit is not rated yet, the positive sentiment from the reviews suggests that it effectively meets the needs of the community it serves. The willingness to help and provide guidance has resonated well with those who have interacted with them, indicating a positive impact on local businesses. Overall, it appears that Quaboag Valley Community Development Corporation is held in high regard by those who have engaged with its services.
This AI summary has been generated from reviews found on Facebook.
Is Quaboag Valley Community Development Corporation legitimate?
Quaboag Valley Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Quaboag Valley Community Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $73,216
Professional Fundraising Fees: $0
Other Salaries and Wages: $398,179
For more financial information, click here
Official website here: www.qvcdc.org
What is the mission statement of Quaboag Valley Community Development Corporation?
The Quaboag Valley Community Development Corporation's mission is centered around improving the economy of its respective region. Specifically, its objective is to support local businesses that struggle to secure capital through conventional means. In addition to this, the corporation engages in community economic development activities aimed at benefiting low-income and underserved residents. By doing so, they aim to reduce unemployment and underemployment, and provide job training and education. Overall, their mission is to contribute positively to the economic growth and improvement of the community.
Official website here: www.qvcdc.org
Who is the CEO of Quaboag Valley Community Development Corporation?
Vincent Mccaughey is the President of Quaboag Valley Community Development Corporation.
Official website here: www.qvcdc.org
What is the revenue of Quaboag Valley Community Development Corporation?
Quaboag Valley Community Development Corporation's revenue in 2022 was $1,035,215.
Official website here: www.qvcdc.org
Who are the executives of Quaboag Valley Community Development Corporation and what are their salaries?
The average compensation at Quaboag Valley Community Development Corporation during 2022 was $19,641. There are 24 employees and 54 volunteers at Quaboag Valley Community Development Corporation.
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Official website here: www.qvcdc.org
Where can I find the form 990 for Quaboag Valley Community Development Corporation?
Quaboag Valley Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.qvcdc.org
Learn more at the official website: www.qvcdc.org
Mission Statement of Quaboag Valley Community Development Corporation
Quaboag Valley Community Development Corporation, a nonprofit organization, is dedicated to improving the economic landscape of its surrounding region in Massachusetts. Their primary mission is to support local businesses, providing them with capital that they may not be able to obtain through conventional means. This investment aims to stimulate economic growth and development in the area. Furthermore, the corporation engages in community economic development activities, with a focus on benefiting low-income and underserved residents. Their goal is to reduce unemployment and underemployment by offering job training and education programs. In essence, Quaboag Valley Community Development Corporation works towards fostering a thriving economic environment in the region, aiming to uplift its community members and businesses.
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Impact
July, 2024
Quaboag Valley Community Development Corporation's impact can be seen in the economic improvement of the Quaboag Valley in Massachusetts. They provide vital support to businesses in the region and offer assistance through their small business loan program. By investing capital in small businesses that struggle to obtain traditional funding, they help stimulate economic growth and create opportunities for entrepreneurship. Additionally, their community economic development activities benefit low-income residents, aiming to reduce unemployment, underemployment, and provide essential job training and education. Through their initiatives, Quaboag Valley Community Development Corporation makes a meaningful difference in the local economy and the lives of underserved individuals.
This information is meant to be a general summary of Quaboag Valley Community Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,003
- Program Service Revenue: $78,020
- Gross Receipts: $1,035,215
Assets and Liabilities:
- Total Assets: $2,164,423
- Total Liabilities: $485,333
- Net Assets: $1,679,090
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$49,920
PROGRAM FEES
Revenue
$28,100
Organization Details
Founding Year
1997
Phone
(413) 967-3001Principal Officer
Vincent Mccaughey
Main Address
23 WEST MAIN STREET SUITE 1, WARE, MA, 01082
Website
www.qvcdc.orgNTEE Category
Code: J20 - Employment
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