Transparency & Accountability

Trains In The Valley (TIV) takes very seriously its responsibility as a nonprofit organization. Our goal is to model the best practices used by other nonprofits organizations. We firmly believe that with transparency comes trust.

With that thought in mind, we are pleased to provide additional details about the structure of our organization and its finances.

 


Organizational Status

Trains In The Valley launched on April 12, 2016. We are currently conducting business as an unincorporated nonprofit association.

The Trains In The Valley website — which is published under the domain name trainsinthevalley.org — is managed using the WordPress.com platform.

We have obtained an Employer Identification Number (EIN) from the Internal Revenue Service for the purpose of establishing a bank account with Florence Bank, 85 Main St, Florence, MA 01062.

Pioneer Valley Regional Ventures Center, Inc., a tax-exempt Section 501(c)(3) organization, has agreed to act as an interim fiscal sponsor for Trains In The Valley. Fiscal sponsorship is an agreement through which an organization without tax-exempt status — but which could qualify for it — partners with an existing tax-exempt organization in order to receive donations and grants.

We are in the process of registering our association with the Massachusetts Attorney General’s Non-Profit Organizations/Public Charities Division. We expect this process to be completed by early October 2017.

We intend to incorporate as a nonprofit corporation with the Secretary of the Commonwealth of Massachusetts and apply for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code tax code at a date in the future that has yet to be determined.

 


Financial Information

Trains In The Valley has a business checking account with Florence Bank. It also maintains an account with online payment system PayPal so that donors have the ability to contribute to TIV using a credit card. (coming soon!)

Quarterly Financial Reports (PDF)

2017 | 1Q2017    2Q2017

2016 | 2Q2016   3Q2016   4Q2016

 

Annual Financial Report (PDF)

FY2016

 

Quarterly and annual financial statements are posted on this web page as soon as they become available.

Please contact us if you have any questions about the financial statements presented above.

 

 

Page last updated: September 18, 2017
Page last reviewed: August 23, 2017