HANOVER ACADEMY

EIN: 540662239 501(c)(3) Education

ASHLAND, VA

Total Revenue
$818,655
Total Expenses
$804,615
Total Assets
$930,513
Net Assets
$628,703
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1959
Legal Domicile
VA
Tax Period
2023-07-01 to 2024-06-30

HANOVER ACADEMY, founded in 1959, is a small nonprofit in the Education sector that reported $449K in total revenue in fiscal year 2018. Revenue decreased 13% compared to the prior year.

Mission

EDUCATION PRE-K THROUGH EIGHTH GRADE

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $758,052
Investment Income $16,074
Other Revenue $44,529
TOTAL REVENUE $818,655

Expense Breakdown

Grants Paid $0
Salaries & Benefits $606,074
Fundraising Expenses $2,469
Program Expenses $631,850
Other Expenses $198,541
TOTAL EXPENSES $804,615

Year-over-Year Comparison

2023 2022 Change
Revenue $818,655 $868,436 -0.1%
Expenses $804,615 $780,131 +0.0%
Net Income $14,040 $88,305 -0.8%
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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
31
Volunteers
15

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
0
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Dale Foley Board Member 5.00
Director
$0 $0 $0
Mark Hughes Board Member 1.00
Director
$0 $0 $0
Michelle Huff PRESIDENT 5.00
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
2025 No data No data No data No data
2024 $818,655 $804,615 $930,513 $14,040
2023 $868,436 $780,131 $909,285 $88,305
2022 $988,761 $654,752 $905,508 $334,009
2021 $931,413 $543,816 $619,324 $387,597
2020 $462,492 $439,029 $239,009 $23,463
2019 $448,864 $436,443 $178,356 $12,421
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