Civic Intelligence

Hanover Academy

990 • Fiscal year 2014 • EIN 54-0662239

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 13, 2014

Organization Profilewww.hanoveracademy.org
115 Frances RoadAshland, VA 23005

(804) 798-8413

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

1.94x

Higher debt load relative to assets than 97% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

95th percentile

1.04x

Higher debt load relative to revenue than 95% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

22nd percentile

-11%

Higher net margin than 22% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

53rd percentile

3.4%

Faster asset growth than 53% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

24th percentile

-18%

Faster revenue growth than 24% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$252,858

Up $8,387 (+3.4%) from 2013

Net Assets

Down

-$236,460

Down $53,888 (-30%) from 2013

Liabilities

Up

$489,318

Up $62,275 (+15%) from 2013

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin22nd percentile

Revenue

Down

$472,538

Down $105,972 (-18%) from 2013

Expenses

Down

$526,426

Down $64,512 (-11%) from 2013

Net Income

Down

-$53,888

Down $41,460 (-334%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0-$500KAssets 2010: $305,692Liabilities 2010: $426,785Net Assets 2010: -$121,0932010Assets 2011: $283,626Liabilities 2011: $391,600Net Assets 2011: -$107,9742011Assets 2012: $260,081Liabilities 2012: $430,225Net Assets 2012: -$170,1442012Assets 2013: $244,471Liabilities 2013: $427,043Net Assets 2013: -$182,5722013Assets 2014: $252,858Liabilities 2014: $489,318Net Assets 2014: -$236,4602014Assets 2015: $277,261Liabilities 2015: $513,184Net Assets 2015: -$235,9232015Assets 2016: $248,442Liabilities 2016: $539,075Net Assets 2016: -$290,6332016Assets 2017: $229,022Liabilities 2017: $542,548Net Assets 2017: -$313,5262017Assets 2018: $186,720Liabilities 2018: $514,426Net Assets 2018: -$327,7062018Assets 2019: $178,356Liabilities 2019: $493,641Net Assets 2019: -$315,2852019Assets 2020: $239,009Liabilities 2020: $530,831Net Assets 2020: -$291,8222020Assets 2021: $619,324Liabilities 2021: $523,549Net Assets 2021: $95,7752021Assets 2022: $905,508Liabilities 2022: $475,724Net Assets 2022: $429,7842022Assets 2023: $909,285Liabilities 2023: $294,622Net Assets 2023: $614,6632023Assets 2024: $930,513Liabilities 2024: $301,810Net Assets 2024: $628,7032024Assets 2025: $915,734Liabilities 2025: $289,605Net Assets 2025: $626,1292025

Highlighted filing

2014

Assets$252,858
Liabilities$489,318
Net Assets-$236,460
Open 2014 Filing

Operations Trend

Revenue Growth24th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $732,0042010Revenue 2011: $625,411Expenses 2011: $635,193Net Income 2011: -$9,7822011Expenses 2012: $620,9192012Revenue 2013: $578,510Expenses 2013: $590,938Net Income 2013: -$12,4282013Revenue 2014: $472,538Expenses 2014: $526,426Net Income 2014: -$53,8882014Revenue 2015: $485,600Expenses 2015: $485,063Net Income 2015: $5372015Revenue 2016: $382,465Expenses 2016: $423,956Net Income 2016: -$41,4912016Revenue 2017: $406,190Expenses 2017: $404,283Net Income 2017: $1,9072017Revenue 2018: $516,232Expenses 2018: $444,095Net Income 2018: $72,1372018Revenue 2019: $448,864Expenses 2019: $436,443Net Income 2019: $12,4212019Revenue 2020: $462,492Expenses 2020: $439,029Net Income 2020: $23,4632020Revenue 2021: $931,413Expenses 2021: $543,816Net Income 2021: $387,5972021Revenue 2022: $988,761Expenses 2022: $654,752Net Income 2022: $334,0092022Revenue 2023: $868,436Expenses 2023: $780,131Net Income 2023: $88,3052023Revenue 2024: $818,655Expenses 2024: $804,615Net Income 2024: $14,0402024Revenue 2025: $774,453Expenses 2025: $777,027Net Income 2025: -$2,5742025

Highlighted filing

2014

Revenue$472,538
Expenses$526,426
Net Income-$53,888
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 13, 2014
Return Version
2013v3.1
Gross Receipts
$472,538
Mission and Program Overview

Mission

Education pre-k through eighth grade

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$132,631$127,397▼ $5,234
Accounts Receivable$110,682$113,319▲ $2,637
Savings and Temporary Cash Investments$390$11,374▲ $10,984
Total Assets$244,471$252,858▲ $8,387
Other Assets Total$768$768→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$387,848$429,854▲ $42,006
Accounts Payable and Accrued Expenses$16,892$36,419▲ $19,527
Deferred Revenue$22,303$23,045▲ $742
Total Liabilities$427,043$489,318▲ $62,275
Net Assets / Fund Balance
Unrestricted Net Assets$-182,572$-236,460▼ $53,888
Total Net Assets Fund Balance$-182,572$-236,460▼ $53,888
Total Liabilities and Net Assets / Fund Balance$244,471$252,858▲ $8,387

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$127,397--
Other Assets Org$768--
Compensation and Service Providers
Top Officer Pay74th percentile

Board Members and Trustees

NameTitle
Michelle HuffPresident
Gregg BentleyVice President
Beth CooleySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$342,294
Investment Income
$1
Other Revenue
$130,243
Change in Net Assets
$-53,888
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$388,461
Other Expenses$137,965
Total Fundraising Expense$11,275
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$256,718$103,456-$360,174
All Other Expenses$36,302-$11,275$47,577
Payroll Taxes$28,287--$28,287
Advertising$14,625--$14,625
Interest$11,883--$11,883
Insurance$8,201--$8,201
Depreciation Depletion-$7,836-$7,836
Other Expenses$6,190--$6,190
Fees for Services Accounting$3,565--$3,565
Fees for Services Legal$2,070--$2,070
Total Functional Expenses$403,859$111,292$11,275$526,426
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$130,243
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“The governing body does not require a review of the tax return. It is reviewed by the head mistress and is prepared from the audited financial statements.”

Conflict of interest policy compliance Part VI line 12C

“The organization strictly enforces compliance of the confilict of interest policy.”

CEO executive director top management comp Part VI line 15A

“All compensation is reviewed by the board and is given market analysis for the geographic area.”

Other officer or key employee compensation Part VI line 15B

“All compensation is reviewed by the board and is given market analysis for the geographic area.”

Governing documents etc available to public Part VI line 19

“Governing documents are made avaialble to the public upon request”

Filing and Contact Details

Filer

EIN
54-0662239

Signing Officer

Name
Rebecca Thomas
Title
Head Master
Phone
8047988413
Signed
2014-11-13
Discuss with paid preparer
Yes

Organization Details

Formed
1959
Legal Domicile
Va
Voting Board Members
11
Independent Board Members
11
Employees
25

Preparer

Preparer
Stanley B Snellings III
Phone
8042667577
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Prior year tax return was prepared with unaudited financial statements. Post audit this change was necessary.”

Raw XML Appendix339 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GOVERNING BODY DOES NOT REQUIRE A REVIEW OF THE TAX RETURN. IT IS REVIEWED BY THE HEAD MISTRESS AND IS PREPARED FROM THE AUDITED FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION STRICTLY ENFORCES COMPLIANCE OF THE CONFILICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL COMPENSATION IS REVIEWED BY THE BOARD AND IS GIVEN MARKET ANALYSIS FOR THE GEOGRAPHIC AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL COMPENSATION IS REVIEWED BY THE BOARD AND IS GIVEN MARKET ANALYSIS FOR THE GEOGRAPHIC AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE MADE AVAIALBLE TO THE PUBLIC UPON REQUEST
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Explanation of other changes in net assets or fund balances Part XI line 9
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IRS990/TotalLiabilitiesBOYAmt0427043
IRS990/TotalLiabilitiesEOYAmt0489318
IRS990/TotalLiabilitiesGrp/BOYAmt0427043
IRS990/TotalLiabilitiesGrp/EOYAmt0489318
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-182572
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-236460
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0403859
IRS990/TotalProgramServiceRevenueAmt0342294
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0130243
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0342295
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0472538
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0244471
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0252858
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-182572
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-236460
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0http://www.hanoveracademy.org/
IRS990/WhistleblowerPolicyInd0true
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0REBECCA THOMAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0HEAD MASTER
ReturnHeader/BusinessOfficerGrp/PhoneNum08047988413
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine10HANOVER ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0HANO
ReturnHeader/Filer/EIN0540662239
ReturnHeader/Filer/USAddress/AddressLine10115 FRANCES ROAD
ReturnHeader/Filer/USAddress/City0ASHLAND
ReturnHeader/Filer/USAddress/State0VA
ReturnHeader/Filer/USAddress/ZIPCode023005
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541251196
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Snellings and Associates LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine104801 Hermitage Rd Suite 10
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Richmond
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode023227
ReturnHeader/PreparerPersonGrp/PhoneNum08042667577
ReturnHeader/PreparerPersonGrp/PreparationDt02014-11-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Stanley B Snellings III
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02014-11-17T07:19:37-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$252,858
Liabilities
$489,318
Net assets
-$236,460
Revenue
$472,538
Expenses
$526,426
Net income
-$53,888
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.16$2.90$6.26$7.74$7.77$0.03
2024Detailed filing. Detailed filing data is available for this year.$9.31$3.02$6.29$8.19$8.05$0.14
2023Detailed filing. Detailed filing data is available for this year.$9.09$2.95$6.15$8.68$7.80$0.88
2022Detailed filing. Detailed filing data is available for this year.$9.06$4.76$4.30$9.89$6.55$3.34
2021Detailed filing. Detailed filing data is available for this year.$6.19$5.24$0.96$9.31$5.44$3.88
2020Detailed filing. Detailed filing data is available for this year.$2.39$5.31$2.92$4.62$4.39$0.23
2019Detailed filing. Detailed filing data is available for this year.$1.78$4.94$3.15$4.49$4.36$0.12
2018Detailed filing. Detailed filing data is available for this year.$1.87$5.14$3.28$5.16$4.44$0.72
2017Detailed filing. Detailed filing data is available for this year.$2.29$5.43$3.14$4.06$4.04$0.02
2016Detailed filing. Detailed filing data is available for this year.$2.48$5.39$2.91$3.82$4.24$0.41
2015Detailed filing. Detailed filing data is available for this year.$2.77$5.13$2.36$4.86$4.85$0.01
2014Detailed filing. Detailed filing data is available for this year.$2.53$4.89$2.36$4.73$5.26$0.54
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.44$4.27$1.83$5.79$5.91$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.60$4.30$1.70$6.21
2011Summary only. Only limited summary data is available for this year.$2.84$3.92$1.08$6.25$6.35$0.10
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.06$4.27$1.21$7.32