Passes our checks

Quaboag Valley Business Assistance Corporation

EIN 04-3268142 · Ware, MA

Public records show a registered, tax-exempt organization in good standing.

What it says it does

ECONOMIC ASSISTANCE AND DEVELOPMENT AND PROVIDING LOANS TO LOCAL BUSINESSES BY GRANTS AND BY LINE OF CREDIT FROM AREA BANKS.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Strong: 100 out of 100. Higher than 85% of charities in its peer group (public benefit, $250k to $1m).

Reserves
35 of 35
Spendable reserves would cover 83.1 months of spending.
Debt
20 of 20
It owes 8% of what it owns.
Living within its means
15 of 15
Income exceeded spending by 58% of income.
Income trend
15 of 15
Income rose 71% on the year before.
Spending floor
15 of 15
71% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Strong: 100 out of 100. Higher than 94% of charities in its peer group (public benefit, $250k to $1m).

Independent board
25 of 25
11 of 11 voting board members are independent.
Conflict of interest policy
15 of 15
Has a written conflict of interest policy.
Whistleblower policy
8 of 8
Has a written whistleblower policy.
Record keeping policy
7 of 7
Has a written policy on keeping and destroying records.
Board minutes
5 of 5
Keeps minutes of board meetings.
Board sees the tax return
10 of 10
Gave the board a copy of this return before filing it.
Independent check of accounts
15 of 15
Its accounts were audited by an independent accountant.
No reported misuse
10 of 10
Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)

$97,182 spent. PROVIDE GRANTS, LOANS AND ADVISORY SUPPORT TO BUSINESSES OF THE QUABOAG REGION; TO INVEST CAPITAL IN BUSINESSES THAT ARE UNABLE TO PROCURE SUCH INVESTMENT THROUGH CONVENTIONAL SYSTEMS IN ORDER TO CREATE A CLIMATE OF ECONOMIC OPPORTUNITY IN THE REGION AND TO ENGAGE IN COMMUNITY ECONOMIC DEVELOPMENT ACTIVITIES THAT WILL SUBSTANTIALLY BENEFIT LOW INCOME, DISADVANTAGED RESIDENTS OF THE SERVICE AREA BY MEANS OF PROGRAMS WHICH HAVE A GOAL, DIRECTLY OR INDIRECTLY, AT LEAST ONE OF THE FOLLOWING: (1) THE REDUCTION OF UNEMPLOYMENT, (2) THE REDUCTION OF UNDEREMPLOYMENT, (3) EDUCATION OR JOB SKILLS TRAINING; FOR LOW INCOME RESIDENTS.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since December 1995.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.