Hanover Education Foundation FY2020 filing

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To develop and sustain community and business partnerships, and serve as effective stewards of resources, to create quality educational opportunities that promote high performance in all students in Hanover County Schools.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
5 of 6
filings with a surplus
Average surplus $126K a year · 23% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
8 mo
of spending, in cash
Plus $3.5M in investments, Pt X · Ln 11–13
Looks good: 8.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $62K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$6K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$586K
Spent
$495K
To programs
87%
Net assets
$3.8M
By yearFY2020–FY2025
Revenue
$586K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$586K
FY2021$609K
FY2022$553K
FY2023$543K
FY2024$434K
FY2025$644K
Expenses
$495K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$495K
FY2021$280K
FY2022$335K
FY2023$397K
FY2024$512K
FY2025$592K
Net assets
$3.8M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$3.8M
FY2021$4.8M
FY2022$4.2M
FY2023$4.4M
FY2024$4.7M
FY2025$5.2M

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1991.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $428K Management & general 13% · $66K Fundraising 0% · $530

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

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Hanover Education Foundation executive salaries →

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 15aNo

Programs and updates

Creates quality educational opportunities by fostering community and business partnerships.

Questions for Hanover Education Foundation

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3 programs · $360K · in their own filed words · FY2019
01

Scholarships

The foundation awards scholarships to students in order to enhance educational opportunities.

$191Kprogram expense
02

Covid 19 Grant

The COVID-19 grant was established in 2020 to accept donations for hanover families in need of support to combat the impact made by COVID19. The fund provides direct support to hanover county for food needs.

$126Kprogram expense
03

Classrooms of the Future

The foundation gives grants to educators in order to enhance technology and innovation in the classroom.

$43Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 4 funders →
Grants paid · 17 grants · $2.1M · 2019–2024
Unitemized GrantFY2024$275,931
Hanover County Public SchoolsFY2024$84,462
Unitemized GrantFY2023$256,453
Hanover County Public SchoolsFY2023$169,949
Hanover County Public SchoolsFY2023$18,187
Unitemized GrantFY2022$206,041
Hanover County Public SchoolsFY2022$109,501
Hanover County Public SchoolsFY2022$22,080
Unitemized GrantFY2021$197,719
Hanover County Public SchoolsFY2021$37,404
Hanover County Public SchoolsFY2021$35,910
Unitemized GrantFY2020$170,283
Hanover County Public SchoolsFY2020$45,534
Hanover County Public SchoolsFY2020$7,720
Unitemized GrantFY2019$191,440
Hanover County Public SchoolsFY2019$125,550
Hanover County Public SchoolsFY2019$110,973

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$586K
Ln 12
Gifts and grantsLn 1h$406K
Investment incomeLn 3$160K
Other incomeLn 4–11$20K
Money outPt IX
$495K
Ln 25
Programscol B$428K
Managementcol C$66K
Fundraisingcol D$530
Owns and owesPt X
$3.8M
net assets · Ln 32
Cash and savingsLn 1–2$336K
Total assetsLn 16$3.8M
LiabilitiesLn 26$6K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$406K
Noncash giftsLn 1g$781
Fundraising eventsLn 1c$18K
Investment incomeLn 3$160K
Other incomeLn 4–11$20K
Gains on assetsLn 7$7K
Total revenueLn 12$586K
Assets in detailPt X, end of year
SavingsLn 2$336K
Cash and savings togetherLn 1–2$336K
Accounts receivableLn 4$6K
InvestmentsLn 11–13$3.5M
Total assetsLn 16$3.8M
LiabilitiesLn 26$6K
Net assetsLn 32$3.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3More from this return
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$30K
Share of the $3.5M endowmentSch D 1g0.85%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
LineFY20FY19FY18FY17FY16
End of yearLn 1g$3.5M$3.5M$3.3M$3.2M$2.8M
Given inLn 1b$55K$234K
SpentLn 1d–1f$149K$163K$198K$211K$115K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$306K$336K
InvestmentsLn 11–13$3.5M$3.5M
Total assetsLn 16$3.8M$3.8M
LiabilitiesLn 26$0$6K
Net assetsLn 32$3.8M$3.8M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$237K$237K
Grants to domestic individualsLn 2$191K$191K
Accounting feesLn 11c$9K$9K
Investment management feesLn 11f$30K$30K
Office expensesLn 13$1K$1K
TravelLn 17$2K$2K
Conferences, conventions and meetingsLn 19$2K$2K
InsuranceLn 23$858$858
Other expenses (24a–d)Ln 24$19K$19K
All other expensesLn 24e$3K$2K$530
Total functional expensesLn 25$495K$428K$66K$530

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Aug 19, 2026 $644K$592K$53K$5.2M 990 PDF
FY2024Filed with the IRS May 15, 2025 $434K$512K−$78K$4.7M 990 PDF
FY2023Filed with the IRS Feb 20, 2024 $543K$397K$146K$4.4M 990 PDF
FY2022Filed with the IRS Sep 14, 2023 $553K$335K$217K$4.2M 990 PDF
FY2021Filed with the IRS Feb 10, 2022 $609K$280K$329K$4.8M 990 PDF
FY2020 ViewingFiled with the IRS Feb 28, 2021 $586K$495K$91K$3.8M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $585,857 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $165,569$405,803
I-9 Program service revenue$0
I-10 Investment incomePrior year $150,517$160,060
I-11 Other revenuePrior year $21,469$19,994
I-12 Total revenuePrior year $337,555$585,857
I-13 Grants and similar amounts paidPrior year $282,848$427,963
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $73,655$66,600
I-18 Total expensesPrior year $356,503$494,563
I-19 Revenue less expensesPrior year −$18,948$91,294
Part VI · Governance 13 of 13 board members independent, 4 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $585,857 across 8 lines filed
VIII-1c Fundraising events$18,453
VIII-1f All other contributions, gifts and grants$387,350
VIII-1g Noncash contributions (included above)$781
VIII-1h Total contributions, gifts and grants$405,803
VIII-3 Investment incomeExcluded from tax $153,165$153,165
VIII-7 Net gain or loss on sales of assetsExcluded from tax $6,895$6,895
VIII-8 Net income from fundraising events$19,994
VIII-12 Total revenueExcluded from tax $160,060$585,857
Part IX · Statement of functional expenses $494,563 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $236,523$236,523
IX-2 Grants to domestic individualsPrograms $191,440$191,440
IX-11c Accounting feesManagement $9,200$9,200
IX-11f Investment management feesManagement $29,858$29,858
IX-13 Office expensesManagement $1,413$1,413
IX-17 TravelManagement $1,887$1,887
IX-19 Conferences, conventions and meetingsManagement $1,725$1,725
IX-23 InsuranceManagement $858$858
IX-24 Other expenses (24a–d)Management $19,090$19,090
IX-24e All other expensesManagement $2,039 · Fundraising $530$2,569
IX-25 Total functional expensesPrograms $427,963 · Management $66,070 · Fundraising $530$494,563
Part X · Balance sheet $3,831,915 assets, 10 lines filed
X-2 Savings and temporary cash investmentsStart of year $306,283$336,275
X-4 Accounts receivableStart of year $4,400$5,500
X-11 Publicly traded securitiesStart of year $3,452,953$3,490,140
X-16 Total assetsStart of year $3,763,636$3,831,915
X-18 Grants payable$6,000
X-26 Total liabilitiesStart of year $0$6,000
X-27 Net assets without donor restrictionsStart of year $428,174$391,290
X-28 Net assets with donor restrictionsStart of year $3,335,462$3,434,625
X-32 Total net assets or fund balancesStart of year $3,763,636$3,825,915
X-33 Total liabilities and net assetsStart of year $3,763,636$3,831,915
Part XI · Reconciliation of net assets $3,825,915 net assets at year end
XI-1 Total revenue$585,857
XI-2 Total expenses$494,563
XI-3 Revenue less expenses$91,294
XI-4 Net assets at start of year$3,763,636
XI-5 Net unrealized gains (losses) on investments−$29,015
XI-10 Net assets at end of year$3,825,915

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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