HANOVER ECONOMIC DEVELOPMENT CORPO… - 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

2021

Legal Domicile

Principal Officer

JAMES SHELTON

Phone

7176373877

Tax Period

2023-01-01 to 2023-12-31

HANOVER ECONOMIC DEVELOPMENT CORPORATION, founded in 2021, is a micro nonprofit in the Community Improvement sector that reported $960 in total revenue in fiscal year 2023. Revenue fell 100% from the prior year — a significant decline worth monitoring. Expenses of $17K exceeded revenue, resulting in a 1708% operating deficit.

Mission

EDUCATIONAL OUTREACH TO BUSINESS LEADERS IN THE COMMUNITY, ASSIST ECONOMIC DEVELOPMENT INITIATIVES, AND ACQUIRE AND MARKET PROPERTIES FOR REDEVELOPMENT.

Program Service Accomplishments

Program 1

Expenses: $15,026

PROMOTE LOCAL JOBS AND JOB OPPORTUNITIES, INCREASE DECENT, SAFE AND AFFORDABLE HOUSING, AND PROMOTE THE SOCIAL WELFARE BY INCREASING THE QUALITY OF LIFE IN THE DOWNTOWN DISTRICT OF HANOVER...

PROMOTE LOCAL JOBS AND JOB OPPORTUNITIES, INCREASE DECENT, SAFE AND AFFORDABLE HOUSING, AND PROMOTE THE SOCIAL WELFARE BY INCREASING THE QUALITY OF LIFE IN THE DOWNTOWN DISTRICT OF HANOVER, PENNSYLVANIA.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $760

Other Revenue $200

TOTAL REVENUE $960

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $15,026

Other Expenses $17,358

TOTAL EXPENSES $17,358

Year-over-Year Comparison

	2023	2022	Change
Revenue	$960	$292,167	-1.0%
Expenses	$17,358	$23,602	-0.3%
Net Income	$-16,398	$268,565	-1.1%

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

N/A

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
MORIAH TYLER	EXECUTIVE DI	1.00	Officer	$0	$0	$0
JAMES SHELTON	FINANCE DIRE	1.00	Officer	$0	$0	$0
DANIEL FREY ESQ	CHAIRPERSON	0.25	Officer Director	$0	$0	$0
MELINDA CRAWFORD	VICE CHAIRPE	0.25	Officer Director	$0	$0	$0
NICOLE HOFFMAN	TREASURER	0.25	Officer Director	$0	$0	$0
VANESSA BERGER	SECRETARY	0.25	Officer Director	$0	$0	$0
JASON DUVALL	DIRECTOR	0.25	Director	$0	$0	$0
MARGARET LEWIS	DIRECTOR	0.25	Director	$0	$0	$0
SARAH MESSER	DIRECTOR	0.25	Director	$0	$0	$0
SUSAN SEIPLE	DIRECTOR	0.25	Director	$0	$0	$0
BRIAN SHAFFER	DIRECTOR	0.25	Director	$0	$0	$0
TAMMY WISE	DIRECTOR	0.25	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	$960	$17,358	$252,167	$-16,398
2022	$292,167	$23,602	$291,224	$268,565

HANOVER ECONOMIC DEVELOPMENT CORPORATION