HANOVER EDUCATION FOUNDATION

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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

1989

Legal Domicile

Principal Officer

MARGARET HILL

Phone

8043654565

Tax Period

2022-07-01 to 2023-06-30

HANOVER EDUCATION FOUNDATION, founded in 1989, is a small nonprofit in the Education sector that reported $543K in total revenue in fiscal year 2022. The organization ran a surplus of $146K, a strong 27% operating margin.

Mission

TO SUBSTANTIALLY AUGMENT EXISTING TAX AND GRANT-BASED FUNDS IN ORDER TO PROVIDE HANOVER COUNTY STUDENTS WITH UNPARALLED OPPORTUNITIES AND EXPERIENCES.

Program Service Accomplishments

Program 1

Expenses: $206,041

SCHOLARSHIPS - THE FOUNDATION AWARDS SCHOLARSHIPS TO STUDENTS IN ORDER TO ENHANCE EDUCATIONAL OPPORTUNITIES.

Program 2

Expenses: $45,071

CLASSROOM GRANTS - THE FOUNDATION PROVIDES GRANTS TO EDUCATORS IN ORDER TO FACILITATE AND UPGRADE LEARNING ENVIRONMENTS.

Program 3

Expenses: $22,080

COVID 19 GRANT - THE COVID-19 GRANT WAS ESTABLISHED IN 2020 TO ACCEPT DONATIONS FOR HANOVER FAMILIES IN NEED OF SUPPORT TO COMBAT THE IMPACT MADE BY COVID19. THE FUND PROVIDES DIRECT SUPPORT TO...

COVID 19 GRANT - THE COVID-19 GRANT WAS ESTABLISHED IN 2020 TO ACCEPT DONATIONS FOR HANOVER FAMILIES IN NEED OF SUPPORT TO COMBAT THE IMPACT MADE BY COVID19. THE FUND PROVIDES DIRECT SUPPORT TO HANOVER COUNTY FOR FOOD NEEDS. THIS FUND WILL CONTINUE TO BE USED TO SERVE STUDENTS AND FAMILIES IN OUR COMMUNITY WHO ARE AFFECTED BY COVID19 AS WELL AS ASSIST IN OTHER FOUNDATION PRIORITIES.

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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 (2022)

Revenue Breakdown

Contributions & Grants $342,362

Program Service Revenue $0

Investment Income $233,019

Other Revenue $-32,546

TOTAL REVENUE $542,835

Expense Breakdown

Grants Paid $337,622

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $337,622

Other Expenses $59,049

TOTAL EXPENSES $396,671

Year-over-Year Comparison

	2022	2021	Change
Revenue	$542,835	$552,749	0.0%
Expenses	$396,671	$335,391	+0.2%
Net Income	$146,164	$217,358	-0.3%

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
JENNIFER A WOOD	PRESIDENT	1.00	Officer Director	$0	$0	$0
TREY HAYDEN	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
KIMBERLEY B DAGES CPA	TREASURER	1.00	Officer Director	$0	$0	$0
KIM EPPS	SECRETARY	1.00	Officer Director	$0	$0	$0
TIM AMOS	DIRECTOR	1.00	Director	$0	$0	$0
ERIC S BATEMAN	DIRECTOR	1.00	Director	$0	$0	$0
EDWIN CALDAS	DIRECTOR	1.00	Director	$0	$0	$0
GINNINA L EAKLE	DIRECTOR	1.00	Director	$0	$0	$0
LISA A MORRIS	DIRECTOR	1.00	Director	$0	$0	$0
STACEY GILES	DIRECTOR	1.00	Director	$0	$0	$0
TRIP TRIBBLE	DIRECTOR	1.00	Director	$0	$0	$0
BETHANY PAINTER	DIRECTOR	1.00	Director	$0	$0	$0
MARGARET HILL	EXECUTIVE DI	40.00	Officer	$0	$0	$0
STUART F SETTLE	DIRECTOR	1.00	Director	$0	$0	$0
DAVE WHITESIDE	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	No data	No data	No data	No data
2023	$542,835	$396,671	$4,426,495	$146,164
2022	$552,749	$335,391	$4,181,076	$217,358
2021	$609,232	$279,936	$4,771,377	$329,296
2020	$585,857	$494,563	$3,831,915	$91,294
2019	$337,555	$356,503	$3,763,636	$-18,948