Hanover Insurance Group Foundation Inc
EIN: 43105650 · Worcester, MA
| Metric | Value |
|---|---|
| Total Revenue | $587K |
| Total Expenses | $1.6M |
| Net Assets | $3.6M |
Is Hanover Insurance Group Foundation Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hanover Insurance Group Foundation Inc
Hanover Insurance Group Foundation Inc (EIN: 43105650) is a nonprofit organization based in Worcester, MA. The organization reported total revenue of $587K and total assets of $2.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hanover Insurance Group Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hanover Insurance Group Foundation Inc is a small nonprofit that has been operating for 35 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $641K |
| Total Expenses | $1.6M |
| Surplus / Deficit | $-943,368 |
| Total Assets | $3.6M |
| Total Liabilities | $1 |
| Net Assets | $3.6M |
| Operating Margin | -147.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 27.0 months |
Financial Health Grade: B
In 2023, Hanover Insurance Group Foundation Inc reported a deficit of $943K with expenses exceeding revenue, holds 27.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Hanover Insurance Group Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.5% | +5.7% | -15.1% |
| 2022 | -0.2% | -0.4% | -30.1% |
| 2021 | -88.3% | -8.8% | -8.6% |
| 2020 | +380.0% | +12.0% | +120.3% |
| 2019 | -42.8% | -15.1% | -50.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hanover Insurance Group Foundation Inc 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 Insurance Group Foundation Inc 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 deficit of $943K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Hanover Insurance Group Foundation Inc
Is Hanover Insurance Group Foundation Inc a legitimate charity?
Hanover Insurance Group Foundation Inc (EIN: 43105650) is a registered tax-exempt nonprofit based in Massachusetts. It has 10 years of IRS 990 filings on record. Total revenue: $587K. No red flags identified. Financial health grade: B.
How does Hanover Insurance Group Foundation Inc spend its money?
Hanover Insurance Group Foundation Inc reported $587K in total revenue in IRS 990 filings. 10 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Hanover Insurance Group Foundation Inc tax-deductible?
Hanover Insurance Group Foundation Inc is registered as a tax-exempt nonprofit (EIN: 43105650). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Hanover Insurance Group Foundation Inc located?
Hanover Insurance Group Foundation Inc is headquartered in Worcester, Massachusetts and files with the IRS under EIN 43105650.
How many years of IRS 990 filings does Hanover Insurance Group Foundation Inc have?
Hanover Insurance Group Foundation Inc has 10 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 $587K in total revenue.
Filing History
IRS 990 filing history for Hanover Insurance Group Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Hanover Insurance Group Foundation Inc's revenue has declined by 4%, moving from $667K to $641K. Total assets decreased by 1.6% over the same period, from $3.6M to $3.6M. Total functional expenses fell by 39.2%, from $2.6M to $1.6M. In its most recent filing year (2023), Hanover Insurance Group Foundation Inc reported a deficit of $943K, with expenses exceeding revenue. The organization holds $1 in liabilities against $3.6M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $641K | $1.6M | $3.6M | $1 | — | View 990 |
| 2022 | $596K | $1.5M | $4.2M | $1 | — | View 990 |
| 2021 | $597K | $1.5M | $6.0M | $1 | — | — |
| 2020 | $5.1M | $1.6M | $6.6M | $1 | — | — |
| 2019 | $1.1M | $1.5M | $3.0M | $0 | — | View 990 |
| 2015 | $1.9M | $1.7M | $6.0M | $0 | — | View 990 |
| 2014 | $1.8M | $2.5M | $6.0M | $0 | — | View 990 |
| 2013 | $2.7M | $1.9M | $6.5M | $0 | — | View 990 |
| 2012 | $2.8M | $1.4M | $5.3M | $0 | — | View 990 |
| 2011 | $667K | $2.6M | $3.6M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $641K, expenses of $1.6M, and assets of $3.6M (revenue +7.5% year-over-year).
- 2022: Revenue of $596K, expenses of $1.5M, and assets of $4.2M (revenue -0.2% year-over-year).
- 2021: Revenue of $597K, expenses of $1.5M, and assets of $6.0M (revenue -88.3% year-over-year).
- 2020: Revenue of $5.1M, expenses of $1.6M, and assets of $6.6M (revenue +380.0% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.5M, and assets of $3.0M (revenue -42.8% year-over-year).
- 2015: Revenue of $1.9M, expenses of $1.7M, and assets of $6.0M (revenue +2.3% year-over-year).
- 2014: Revenue of $1.8M, expenses of $2.5M, and assets of $6.0M (revenue -32.6% year-over-year).
- 2013: Revenue of $2.7M, expenses of $1.9M, and assets of $6.5M (revenue -4.2% year-over-year).
- 2012: Revenue of $2.8M, expenses of $1.4M, and assets of $5.3M (revenue +320.5% year-over-year).
- 2011: Revenue of $667K, expenses of $2.6M, and assets of $3.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hanover Insurance Group Foundation Inc:
Data Sources and Methodology
This transparency report for Hanover Insurance Group Foundation Inc 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.