Hanover College Trustees

Analysis

Hanover College Trustees is a registered charity in United States, based in Hanover, IN. It received its IRS tax-exemption ruling in April 1953, 73 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hanover College Trustees reported income of $70.6m and spending of $78.6m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $62.0m to $70.6m (+14%), an average of +3.3% a year. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hanover College Trustees sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IN. Charities of a similar size with the same main cause include Marietta College ($70.5m), Inspiritec Inc ($70.7m) and Pinecrest Academy of Nevada ($70.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $643k (0.8% of expenses). Other salaries and wages came to $18.3m. At year end it held assets of $245.2m against liabilities of $28.9m, net assets of $216.3m. It reported 849 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.