Hanover Arc Incorporated
EIN: 540975872 · Glen Allen, VA · NTEE: P82Z
| Metric | Value |
|---|---|
| Total Revenue | $785K |
| Total Expenses | $144K |
| Net Assets | $318K |
Is Hanover Arc Incorporated Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hanover Arc Incorporated
Hanover Arc Incorporated (EIN: 540975872) is a nonprofit organization based in Glen Allen, VA, classified under NTEE code P82Z. The organization reported total revenue of $785K and total assets of $602K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hanover Arc Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hanover Arc Incorporated is a small nonprofit that has been operating for 51 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 6.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $264K |
| Total Expenses | $144K |
| Surplus / Deficit | +$120K |
| Total Assets | $325K |
| Total Liabilities | $7K |
| Net Assets | $318K |
| Operating Margin | 45.4% |
| Debt-to-Asset Ratio | 2.2% |
| Months of Reserves | 27.1 months |
Financial Health Grade: A
In 2023, Hanover Arc Incorporated reported a surplus of $120K with revenue exceeding expenses, holds 27.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.2% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Hanover Arc Incorporated's revenue has grown at a compound annual growth rate (CAGR) of 6.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +133.8% | +74.3% | +67.3% |
| 2022 | +62.2% | +24.6% | +5.3% |
| 2021 | +26.7% | -13.6% | +7.5% |
| 2020 | -11.6% | +7.7% | -7.3% |
| 2019 | -38.0% | -22.1% | -5.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1975 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hanover Arc Incorporated has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hanover Arc Incorporated with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $120K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.2%.
Frequently Asked Questions about Hanover Arc Incorporated
Is Hanover Arc Incorporated a legitimate charity?
Based on AI analysis of IRS 990 filings, Hanover Arc Incorporated (EIN: 540975872) insufficient data. 0 red flags identified, 0 strengths noted.
How does Hanover Arc Incorporated spend its money?
Detailed spending breakdown data is not yet available for Hanover Arc Incorporated. Check back for updated IRS 990 analysis.
Are donations to Hanover Arc Incorporated tax-deductible?
Hanover Arc Incorporated is registered as a tax-exempt nonprofit (EIN: 540975872). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Hanover Arc Incorporated located?
Hanover Arc Incorporated is headquartered in Glen Allen, Virginia and files with the IRS under EIN 540975872. It is classified under NTEE code P82Z.
How many years of IRS 990 filings does Hanover Arc Incorporated have?
Hanover Arc Incorporated has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $785K in total revenue.
Filing History
IRS 990 filing history for Hanover Arc Incorporated showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Hanover Arc Incorporated's revenue has grown by 108%, moving from $127K to $264K. Total assets increased by 107.6% over the same period, from $157K to $325K. Total functional expenses rose by 28.1%, from $112K to $144K. In its most recent filing year (2023), Hanover Arc Incorporated reported a surplus of $120K, with revenue exceeding expenses. The organization holds $7K in liabilities against $325K in assets (debt-to-asset ratio: 2.2%), resulting in net assets of $318K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $264K | $144K | $325K | $7K | — | View 990 |
| 2022 | $113K | $83K | $194K | $10 | — | View 990 |
| 2021 | $70K | $66K | $185K | $18K | — | — |
| 2020 | $55K | $77K | $172K | $9K | — | View 990 |
| 2019 | $62K | $71K | $185K | $847 | — | View 990 |
| 2018 | $100K | $91K | $196K | $3K | — | View 990 |
| 2017 | $92K | $88K | $185K | $3K | — | View 990 |
| 2016 | $107K | $98K | $187K | $10K | — | View 990 |
| 2015 | $100K | $110K | $169K | $0 | — | View 990 |
| 2014 | $126K | $113K | $179K | $0 | — | View 990 |
| 2013 | $116K | $110K | $165K | $900 | — | View 990 |
| 2012 | $127K | $112K | $157K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $264K, expenses of $144K, and assets of $325K (revenue +133.8% year-over-year).
- 2022: Revenue of $113K, expenses of $83K, and assets of $194K (revenue +62.2% year-over-year).
- 2021: Revenue of $70K, expenses of $66K, and assets of $185K (revenue +26.7% year-over-year).
- 2020: Revenue of $55K, expenses of $77K, and assets of $172K (revenue -11.6% year-over-year).
- 2019: Revenue of $62K, expenses of $71K, and assets of $185K (revenue -38.0% year-over-year).
- 2018: Revenue of $100K, expenses of $91K, and assets of $196K (revenue +8.8% year-over-year).
- 2017: Revenue of $92K, expenses of $88K, and assets of $185K (revenue -13.9% year-over-year).
- 2016: Revenue of $107K, expenses of $98K, and assets of $187K (revenue +6.5% year-over-year).
- 2015: Revenue of $100K, expenses of $110K, and assets of $169K (revenue -20.1% year-over-year).
- 2014: Revenue of $126K, expenses of $113K, and assets of $179K (revenue +8.0% year-over-year).
- 2013: Revenue of $116K, expenses of $110K, and assets of $165K (revenue -8.2% year-over-year).
- 2012: Revenue of $127K, expenses of $112K, and assets of $157K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hanover Arc Incorporated:
Data Sources and Methodology
This transparency report for Hanover Arc Incorporated is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.