Hanover Aquatics Inc

Analysis

Hanover Aquatics Inc is a registered charity in United States, based in Mechanicsvlle, VA. It received its IRS tax-exemption ruling in September 1996, 30 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Hanover Aquatics Inc reported income of $544k and spending of $559k, spending 103% of its income. Across the 6 years on record, from August 2018 to August 2023, income grew from $491k to $544k (+11%), an average of +2.1% a year. The sharpest change came in the year to August 2021, when income rose by 59%. Over the whole period it spent 100% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Hanover Aquatics Inc sits at the 87th percentile: it is larger than about 86% 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 Watchung Hills Soccer Association Inc ($544k), Orange County Water Polo Club ($545k) and Maplewood South Orange Soccer Club Inc ($544k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 14% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $73k (13% of expenses). Other salaries and wages came to $115k. At year end it held assets of $92k against liabilities of $22k, net assets of $70k. It reported 13 employees.