Civic Intelligence

Hanover Academy

990 • Fiscal year 2018 • EIN 54-0662239

Jul 01, 2017 to Jun 30, 2018 • Filed on Oct 31, 2018

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

99th percentile

2.76x

Higher debt load relative to assets than 99% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

90th percentile

1.00x

Higher debt load relative to revenue than 90% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

70th percentile

14%

Higher net margin than 70% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

10th percentile

-18%

Faster asset growth than 10% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

77th percentile

27%

Faster revenue growth than 77% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$186,720

Down $42,302 (-18%) from 2017

Net Assets

Down

-$327,706

Down $14,180 (-4.5%) from 2017

Liabilities

Down

$514,426

Down $28,122 (-5.2%) from 2017

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin70th percentile

Revenue

Up

$516,232

Up $110,042 (+27%) from 2017

Expenses

Up

$444,095

Up $39,812 (+9.8%) from 2017

Net Income

Up

$72,137

Up $70,230 (+3683%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth10th 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

2018

Assets$186,720
Liabilities$514,426
Net Assets-$327,706
Open 2018 Filing

Operations Trend

Revenue Growth77th 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

2018

Revenue$516,232
Expenses$444,095
Net Income$72,137
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Oct 31, 2018
Return Version
2017v2.2
Gross Receipts
$516,232
Mission and Program Overview

Mission

Education pre-k through eighth grade

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$135,400$135,400→ $0
Land, Buildings, and Equipment, Net$123,741$132,117▲ $8,376
Accounts Receivable$92,192$31,107▼ $61,085
Savings and Temporary Cash Investments$12,321$21,883▲ $9,562
Total Assets$229,022$186,720▼ $42,302
Other Assets Total$768$1,613▲ $845
Liabilities
Mortgage Notes Payable Secured by Investment Property$373,954$362,706▼ $11,248
Accounts Payable and Accrued Expenses$27,149$16,320▼ $10,829
Deferred Revenue$6,045--
Total Liabilities$542,548$514,426▼ $28,122
Net Assets / Fund Balance
Unrestricted Net Assets$-313,526$-327,706▼ $14,180
Total Net Assets Fund Balance$-313,526$-327,706▼ $14,180
Total Liabilities and Net Assets / Fund Balance$229,022$186,720▼ $42,302

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$132,117--
Other Assets Org$1,613--
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Michelle HuffPresident
Gregg BentleyVice President
Mark HughesBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$444,265
Investment Income
$6
Other Revenue
$71,961
Change in Net Assets
$72,137

Audited Revenue Reconciliation

Revenue per Audited Statements
$516,232
Total Revenue per Audited Statements
$516,232
Total Revenue per Form 990
$516,232
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$321,473
Other Expenses$122,622
Total Fundraising Expense$6,649
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$241,851$58,249-$300,100
All Other Expenses$17,887-$6,649$24,536
Interest$23,000--$23,000
Payroll Taxes$21,373--$21,373
Insurance$9,551--$9,551
Depreciation Depletion-$8,124-$8,124
Other Expenses$6,235--$6,235
Advertising$4,506--$4,506
Fees for Services Legal$1,894--$1,894
Fees for Services Accounting$1,576--$1,576
Total Functional Expenses$371,073$66,373$6,649$444,095

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$444,095
Total Expenses per Audited Statements$444,095
Total Expenses per Form 990$444,095
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$71,961
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
All----
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$135,400$135,400→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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

Filer Name
Hanover Academy
EIN
54-0662239
Address
115 FRANCES ROAD, ASHLAND, VA 23005

Signing Officer

Name
Rebecca Thomas
Title
Head Master
Phone
8047988413
Signed
2018-10-31
Discuss with paid preparer
Yes

Organization Details

Formed
1959
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
7
Employees
23

Preparer

Firm
Snellings and Associates LLC
Address
4801 Hermitage Rd Suite 10, Richmond, VA 23227
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 Appendix376 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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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt033800
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt191000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt210600
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0REBECCA THOMAS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1DALE FOLEY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2GREGG BENTLEY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0HEAD OF SCHOOL
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1BOARD MEMMBER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2VICE PRESIDENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd2false
IRS990ScheduleL/TotalBalanceDueAmt0135400
IRS990/ScheduleORequiredInd0true
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
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PRIOR YEAR TAX RETURN WAS PREPARED WITH UNAUDITED FINANCIAL STATEMENTS. POST AUDIT THIS CHANGE WAS NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
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
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0229022
IRS990/TotalAssetsEOYAmt0186720
IRS990/TotalAssetsGrp/BOYAmt0229022
IRS990/TotalAssetsGrp/EOYAmt0186720
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt023
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06649
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt066373
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0371073
IRS990/TotalFunctionalExpensesGrp/TotalAmt0444095
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0542548
IRS990/TotalLiabilitiesEOYAmt0514426
IRS990/TotalLiabilitiesGrp/BOYAmt0542548
IRS990/TotalLiabilitiesGrp/EOYAmt0514426
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-313526
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-327706
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0371073
IRS990/TotalProgramServiceRevenueAmt0444265
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt071961
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0444271
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0516232
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0229022
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0186720
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-313526
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-327706
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0http://www.hanoveracademy.org/
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0REBECCA THOMAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0HEAD MASTER
ReturnHeader/BusinessOfficerGrp/PhoneNum08047988413
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HANOVER ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0HANO
ReturnHeader/Filer/EIN0540662239
ReturnHeader/Filer/USAddress/AddressLine1Txt0115 FRANCES ROAD
ReturnHeader/Filer/USAddress/CityNm0ASHLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023005
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId00F626287FA496E60D041D9FC47A3FB067105229C
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId00F626287FA496E60D041D9FC47A3FB067105229C
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId05466162018306vsawjs0
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02018-11-02
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt073.12.89.9
ReturnHeader/FilingSecurityInformation/IPDt02018-11-02
ReturnHeader/FilingSecurityInformation/IPTm007:25:29
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Snellings and Associates LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04801 Hermitage Rd Suite 10
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Richmond
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023227
ReturnHeader/PreparerPersonGrp/PhoneNum08042667577
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Stanley B Snellings III
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02018-11-02T08:23:55-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$186,720
Liabilities
$514,426
Net assets
-$327,706
Revenue
$516,232
Expenses
$444,095
Net income
$72,137
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