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Hanover Academy

Tax-deductible

Ashland, VA501(c)(3)Education EIN 54-0662239Revenue $774K in FY2025

On file with the IRShanoveracademy.org117 Frances Rd, 23005-7400 · Ashland, VATax-exempt since Nov 1960School — 170(b)(1)(A)(ii)

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Education pre-k through eighth grade

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
Run by 15 volunteers and 31 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $164K a year · 19% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$290K
32% of total assets
Looks good: liabilities are 32% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$774K
-5% vs prior year
Spent
$777K
To programs
78%
Net assets
$626K
By yearFY2021–FY2025
Revenue
$774K
FY2025▼ -5%
Tap a bar for its year
Revenue by fiscal year
FY2021$931K
FY2022$989K
FY2023$868K
FY2024$819K
FY2025$774K
Expenses
$777K
FY2025▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2021$544K
FY2022$655K
FY2023$780K
FY2024$805K
FY2025$777K
Net assets
$626K
FY2025-0.4%
Tap a bar for its year
Net assets by fiscal year
FY2021$96K
FY2022$430K
FY2023$615K
FY2024$629K
FY2025$626K

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1960.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $607K Management & general 21% · $166K Fundraising 0% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Michelle Huff
President
$0Pt VII · Sec A
Mark Hughes
Board Member
$0Pt VII · Sec A
Dale Foley
Board Member
$0Pt VII · Sec A
See Hanover Academy executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides elementary and middle school education for children.

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Provided by the organization

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1 program · $607K · in their own filed words · FY2024
01

Hanover academy is an educational institution that provides elementary and junior high school services and day care to children.

$607Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
The Jane and Arthur Flippo FoundationFY2024$10K
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$774K
Ln 12
Fees for servicesLn 2g$705K
Other incomeLn 4–11$42K
Investment incomeLn 3$17K
Money outPt IX
$777K
Ln 25
Programscol B$607K
Managementcol C$166K
Fundraisingcol D$4K
Owns and owesPt X
$626K
net assets · Ln 32
Cash and savingsLn 1–2$414K
Total assetsLn 16$916K
LiabilitiesLn 26$290K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Government grantsLn 1e$10K
Fees for servicesLn 2g$705K
Investment incomeLn 3$17K
Other incomeLn 4–11$42K
Total revenueLn 12$774K
Assets in detailPt X, end of year
CashLn 1$164K
SavingsLn 2$250K
Cash and savings togetherLn 1–2$414K
Land, buildings, equipmentLn 10c$454K
Other assetsLn 15$2K
Total assetsLn 16$916K
LiabilitiesLn 26$290K
Net assetsLn 32$626K
OperationsPt I, VI
EmployeesI 531
VolunteersI 615
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$407K$414K
Land, buildings, equipmentLn 10c$482K$454K
Total assetsLn 16$931K$916K
LiabilitiesLn 26$302K$290K
Net assetsLn 32$629K$626K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$554K$437K$117K
Payroll taxesLn 10$41K$30K$11K
Accounting feesLn 11c$757$757
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$9K$9K
InterestLn 20$9K$9K
Depreciation, depletion and amortizationLn 22$38K$38K
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$62K$59K$4K
All other expensesLn 24e$48K$48K
Total functional expensesLn 25$777K$607K$166K$4K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $774K$777K−$3K$626K 990 PDF
FY2024 $819K$805K$14K$629K 990 PDF
FY2023 $868K$780K$88K$615K 990 PDF
FY2022 $989K$655K$334K$430K 990 PDF
FY2021 $931K$544K$388K$96K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $774,453 revenue, 12 lines filed
I-8 Contributions and grants$10,000
I-9 Program service revenuePrior year $758,052$705,241
I-10 Investment incomePrior year $16,074$17,141
I-11 Other revenuePrior year $44,529$42,071
I-12 Total revenuePrior year $818,655$774,453
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $606,074$594,912
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $198,541$182,115
I-18 Total expensesPrior year $804,615$777,027
I-19 Revenue less expensesPrior year $14,040−$2,574
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $774,453 across 6 lines filed
VIII-1e Government grants$10,000
VIII-1h Total contributions, gifts and grants$10,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $705,241$705,241
VIII-3 Investment incomeRelated to mission $17,141$17,141
VIII-8 Net income from fundraising eventsExcluded from tax $42,071$42,071
VIII-12 Total revenueRelated to mission $722,382 · Unrelated business $0 · Excluded from tax $42,071$774,453
Part IX · Statement of functional expenses $777,027 across 10 lines filed
IX-7 Other salaries and wagesPrograms $436,501 · Management $117,222$553,723
IX-10 Payroll taxesPrograms $30,128 · Management $11,061$41,189
IX-11c Accounting feesPrograms $757$757
IX-12 Advertising and promotionPrograms $3,371$3,371
IX-13 Office expensesPrograms $8,526$8,526
IX-20 InterestPrograms $8,827$8,827
IX-22 Depreciation, depletion and amortizationManagement $38,083$38,083
IX-23 InsurancePrograms $12,557$12,557
IX-24 Other expenses (24a–d)Programs $58,641 · Fundraising $3,512$62,153
IX-24e All other expensesPrograms $47,841$47,841
IX-25 Total functional expensesPrograms $607,149 · Management $166,366 · Fundraising $3,512$777,027
Part X · Balance sheet $915,734 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $157,922$163,960
X-2 Savings and temporary cash investmentsStart of year $249,160$250,422
X-4 Accounts receivableStart of year $40,257$44,763
X-10c Land, buildings and equipment, netStart of year $482,054$454,128
X-15 Other assetsStart of year $1,120$2,461
X-16 Total assetsStart of year $930,513$915,734
X-17 Accounts payable and accrued expensesStart of year $28,030$36,737
X-25 Other liabilitiesStart of year $29,000$26,000
X-26 Total liabilitiesStart of year $301,810$289,605
X-27 Net assets without donor restrictionsStart of year $628,703$626,129
X-32 Total net assets or fund balancesStart of year $628,703$626,129
X-33 Total liabilities and net assetsStart of year $930,513$915,734
Part XI · Reconciliation of net assets $626,129 net assets at year end
XI-1 Total revenue$774,453
XI-2 Total expenses$777,027
XI-3 Revenue less expenses−$2,574
XI-4 Net assets at start of year$628,703
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$626,129

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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