Hanover Improvement Society Corp

Analysis

Hanover Improvement Society Corp is a registered charity in United States, based in Hanover, NH. It received its IRS tax-exemption ruling in January 1986, 40 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Hanover Improvement Society Corp reported income of $2.9m and spending of $2.0m, leaving 29% of income unspent that year. Across the 5 years on record, from March 2020 to March 2024, income grew from $2.3m to $2.9m (+25%), an average of +5.7% a year. The sharpest change came in the year to March 2022, when income rose by 260%. Over the whole period it spent 62% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Hanover Improvement Society Corp sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NH. Charities of a similar size with the same main cause include The Climate Initiative ($2.9m), Darien Youth Hockey Assoc Inc ($2.9m) and Slammers Futbol Club ($2.8m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 30% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $126k (6.2% of expenses). Other salaries and wages came to $528k. At year end it held assets of $12.6m against liabilities of $353k, net assets of $12.3m. It reported 73 employees.