Hanover Improvement Society Corp

Hanover Improvement Society Corp consistently generates surpluses and grows assets with no reported officer compensation.

EIN: 20392580 · Hanover, NH · NTEE: N31Z · Updated: 2026-03-28

$2.8MRevenue

$13.0MAssets

92/100Mission Score (Excellent)

N31Z

About Hanover Improvement Society Corp

Hanover Improvement Society Corp (EIN: 20392580) is a nonprofit organization based in Hanover, NH, classified under NTEE code N31Z. The organization reported total revenue of $2.8M and total assets of $13.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hanover Improvement Society Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Hanover Improvement Society Corp demonstrates strong financial health and a consistent commitment to its mission, as evidenced by its IRS 990 filings. The organization has shown robust revenue generation, with recent years like 202303 seeing $4,028,196 in revenue and 202403 at $2,852,461. Its asset base has also grown significantly, from $6,700,782 in 201503 to $12,649,791 in 202403, indicating sound financial management and accumulation of resources. The consistent reporting of 0% officer compensation across all available filings is a significant indicator of transparency and a focus on directing funds towards organizational activities rather than executive pay.

The organization consistently spends less than its revenue, leading to healthy surpluses in most years, such as a $818,339 surplus in 202403 ($2,852,461 revenue - $2,034,122 expenses). This financial prudence allows for asset growth and stability. While specific program spending ratios are not detailed in the provided data, the overall financial picture suggests efficient operations given the consistent surpluses and asset growth. The absence of officer compensation further enhances its transparency profile, suggesting a volunteer-led or very lean administrative structure at the top.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Hanover Improvement Society Corp with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, Hanover Improvement Society Corp allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that the organization's officers are either unpaid volunteers or compensated through other means not classified as officer compensation, which is highly favorable for a nonprofit of its size with assets exceeding $12 million.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Strengths

The following positive indicators were identified for Hanover Improvement Society Corp:

Consistent financial surpluses, such as $818,339 in 202403.
Significant asset growth from $6.7M in 201503 to $12.6M in 202403.
0% reported officer compensation across all filings, indicating high efficiency and volunteer leadership.
Strong revenue generation, with recent years exceeding $2.8 million.
Low liabilities relative to assets, indicating strong financial stability.

Frequently Asked Questions about Hanover Improvement Society Corp

Is Hanover Improvement Society Corp a good charity?

Based on the provided financial data, Hanover Improvement Society Corp appears to be a very good charity. It consistently generates surpluses, grows its assets, and reports 0% officer compensation, indicating strong financial health and a commitment to its mission.

How has the organization's financial health changed over time?

The organization's financial health has significantly improved over time. Assets have nearly doubled from $6,700,782 in 201503 to $12,649,791 in 202403, and it consistently maintains healthy surpluses, demonstrating robust growth and stability.

What is the trend in revenue and expenses?

Revenue has fluctuated but generally remained strong, with notable peaks like $4,028,196 in 202303. Expenses have shown a steady increase but typically remain well below revenue, allowing for consistent surpluses and asset accumulation.

Filing History

IRS 990 filing history for Hanover Improvement Society Corp showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2012–2024), Hanover Improvement Society Corp's revenue has grown by 35.5%, moving from $2.1M to $2.9M. Total assets increased by 104.3% over the same period, from $6.2M to $12.6M. Total functional expenses fell by 3.5%, from $2.1M to $2.0M. In its most recent filing year (2024), Hanover Improvement Society Corp reported a surplus of $818K, with revenue exceeding expenses. The organization holds $353K in liabilities against $12.6M in assets (debt-to-asset ratio: 2.8%), resulting in net assets of $12.3M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$2.9M	$2.0M	$12.6M	$353K	—	—
2023	$4.0M	$1.9M	$11.8M	$560K	—	View 990
2022	$3.9M	$1.7M	$10.0M	$506K	—	View 990
2021	$1.1M	$1.2M	$7.9M	$594K	—	—
2020	$2.3M	$2.1M	$7.0M	$592K	—	View 990
2019	$2.3M	$2.2M	$7.2M	$583K	—	View 990
2018	$2.0M	$2.1M	$7.2M	$626K	—	View 990
2017	$2.2M	$2.1M	$7.1M	$675K	—	View 990
2016	$2.7M	$2.1M	$6.8M	$710K	—	View 990
2015	$2.3M	$2.0M	$6.7M	$766K	—	View 990
2014	$2.3M	$2.0M	$6.7M	$814K	—	View 990
2013	$2.1M	$2.1M	$6.3M	$880K	—	View 990
2012	$2.1M	$2.1M	$6.2M	$908K	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $2.9M, expenses of $2.0M, and assets of $12.6M (revenue -29.2% year-over-year).
2023: Revenue of $4.0M, expenses of $1.9M, and assets of $11.8M (revenue +2.2% year-over-year).
2022: Revenue of $3.9M, expenses of $1.7M, and assets of $10.0M (revenue +259.6% year-over-year).
2021: Revenue of $1.1M, expenses of $1.2M, and assets of $7.9M (revenue -52.0% year-over-year).
2020: Revenue of $2.3M, expenses of $2.1M, and assets of $7.0M (revenue +0.9% year-over-year).
2019: Revenue of $2.3M, expenses of $2.2M, and assets of $7.2M (revenue +10.5% year-over-year).
2018: Revenue of $2.0M, expenses of $2.1M, and assets of $7.2M (revenue -5.6% year-over-year).
2017: Revenue of $2.2M, expenses of $2.1M, and assets of $7.1M (revenue -18.9% year-over-year).
2016: Revenue of $2.7M, expenses of $2.1M, and assets of $6.8M (revenue +16.9% year-over-year).
2015: Revenue of $2.3M, expenses of $2.0M, and assets of $6.7M (revenue +0.3% year-over-year).
2014: Revenue of $2.3M, expenses of $2.0M, and assets of $6.7M (revenue +6.7% year-over-year).
2013: Revenue of $2.1M, expenses of $2.1M, and assets of $6.3M (revenue +1.6% year-over-year).
2012: Revenue of $2.1M, expenses of $2.1M, and assets of $6.2M.

Data Sources and Methodology

This transparency report for Hanover Improvement Society Corp 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.