Hanover Education Foundation

Analysis

Hanover Education Foundation is a registered charity in United States, based in Ashland, VA. It received its IRS tax-exemption ruling in August 1991, 35 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Education Foundation reported income of $543k and spending of $397k, leaving 27% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $338k to $543k (+61%), an average of +13% a year. The sharpest change came in the year to June 2020, when income rose by 74%. Over the whole period it spent 71% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hanover Education Foundation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 72nd percentile within VA. Charities of a similar size with the same main cause include Burlington-Edison Alumni Foundation Dollars for Scholars ($543k), Learning Springs Academy Inc ($543k) and Papermill Creek Childrens Corner ($543k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% of the total. At year end it held assets of $4.4m against liabilities of $0, net assets of $4.4m.