HANOVER LEGION ELDERLY HOUSING COR… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Legal Domicile

Principal Officer

THOMAS BAILEY

Phone

7818490011

Tax Period

2024-01-01 to 2024-12-31

HANOVER LEGION ELDERLY HOUSING CORPORATION, founded in 1979, is a community nonprofit in the Housing & Shelter sector that reported $1.3M in total revenue in fiscal year 2024. Expenses of $1.1M left a modest 13% surplus.

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE SIXTY RENTAL UNITS OF HOUSING ON A NON-PROFIT BASIS FOR ELDERLY PERSONS TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS.

Program Service Accomplishments

Program 1

Expenses: $1,050,523 Revenue: $402,866

THE ORGANIZATION PROVIDES HOUSING FOR ELDERLY PERSONS WITH LOW INCOME TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $836,568

Program Service Revenue $398,563

Investment Income $56,404

Other Revenue $4,303

TOTAL REVENUE $1,295,838

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,050,523

Other Expenses $1,124,187

TOTAL EXPENSES $1,124,187

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,295,838	$1,261,493	+0.0%
Expenses	$1,124,187	$1,052,944	+0.1%
Net Income	$171,651	$208,549	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS BAILEY	PRESIDENT/CLERK	1.00	Officer Director	$0	$0	$0
JOE SALVUCCI	TREASURER	1.00	Officer Director	$0	$0	$0
CHRISTINE ASHBURN	DIRECTOR	1.00	Director	$0	$0	$0
DONALD BUCKLEY	DIRECTOR	1.00	Director	$0	$0	$0
DONNA HANNIGAN	DIRECTOR	1.00	Director	$0	$0	$0
CHUCK MERRITT	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,295,838	$1,124,187	$3,048,978	$171,651
2023	$1,261,493	$1,052,944	$2,858,030	$208,549
2022	$1,205,924	$1,095,561	$2,711,661	$110,363
2021	$1,134,988	$1,067,932	$2,587,565	$67,056
2020	$1,106,724	$962,261	$2,572,449	$144,463
2019	$1,086,168	$1,005,410	$2,482,523	$80,758
2018	$1,070,692	$954,553	$2,470,483	$116,139

HANOVER LEGION ELDERLY HOUSING CORPORATION