Hanover Adult Center Inc

Analysis

Hanover Adult Center Inc is a registered charity in United States, based in Mechanicsvlle, VA. It received its IRS tax-exemption ruling in February 1980, 46 years ago. 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 June 2023, Hanover Adult Center Inc reported income of $1.4m and spending of $1.3m, spending 93% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $830k to $1.4m (+70%), an average of +19% a year. The sharpest change came in the year to June 2023, when income rose by 29%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hanover Adult Center Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within VA. Charities of a similar size with the same main cause include Greater Birmingham Ministries Inc ($1.4m), C N Wodehouse Faculty Benefit Trust ($1.4m) and Nami Franklin County Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.7% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $100 (0.0% of expenses). Other salaries and wages came to $820k. At year end it held assets of $1.1m against liabilities of $400k, net assets of $720k. It reported 48 employees.