Hanover Improvement Society Corp

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Hanover Improvement Society Corp Form 990, Revenue, CEO Pay, and IRS Filing Signals

Hanover Improvement Society Corp is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Hanover Improvement Society Corp in one place.

Is Hanover Improvement Society Corp Legit?

Appears Legitimate

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

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Where the Money Comes From and Where It Goes

Across stored filings, Hanover Improvement Society Corp shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Hanover Improvement Society Corp directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

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.

Organization Overview

Hanover Improvement Society Corp is a mid-size nonprofit that has been operating for 40 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 2.6%.

Key Financial Metrics (2024)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2024, Hanover Improvement Society Corp reported a surplus of $818K with revenue exceeding expenses, holds 74.6 months of operating reserves (strong position), has a debt-to-asset ratio of 2.8% (very low leverage).

Financial Trends

Over 13 years of filings (2012–2024), Hanover Improvement Society Corp's revenue has grown at a compound annual growth rate (CAGR) of 2.6%.

IRS Tax-Exempt Classification

Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.

AI Transparency Report

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.

Key Financial Metrics (2024)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $818K, with revenue exceeding expenses.
• Debt-to-asset ratio: 2.8%.

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

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-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.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Hanover Improvement Society Corp:

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.