Hanover Tavern Foundation

Analysis

Hanover Tavern Foundation is a registered charity in United States, based in Hanover, VA. It received its IRS tax-exemption ruling in February 1991, 35 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Hanover Tavern Foundation reported income of $481k and spending of $579k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $561k to $481k (-14%), an average of -3.8% a year. The sharpest change came in the year to December 2021, when income rose by 71%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hanover Tavern Foundation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 69th percentile within VA. Charities of a similar size with the same main cause include Washington County Historical Society Foundation Inc ($480k), Childrens Discovery Museum ($481k) and American Friends of Venatenu Inc ($480k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 6.0% of the total. Compensation of current officers, directors and key employees was $109k (19% of expenses). Other salaries and wages came to $47k. At year end it held assets of $4.9m against liabilities of $133k, net assets of $4.8m. It reported 67 employees.