Hanover Improvement Society Corp
- Assets
- $7.9m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 66
- Location
- Hanover, NH
- Founding
- 01/1986
- Data as of
- 03/2021
- EIN
- 02-0392580
Organization Overview
Hanover Improvement Society Corp is located in Hanover, NH. The organization was established in 1986. According to its NTEE Classification (N31) the organization is classified as: Community Recreational Centers, under the broad grouping of Recreation & Sports and related organizations. As of 03/2022, Hanover Improvement Society Corp employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hanover Improvement Society Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2021, Hanover Improvement Society Corp generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $1.2m during the year ending 03/2021. As we would expect to see with falling revenues, expenses have declined by (7.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE HANOVER, NEW HAMPSHIRE A BETTER PLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STORRS POND RECREATION AREA- FACILITIES FOR SWIMMING, CAMPING, PICNICS, TENNIS AND HIKING
JAMES W. CAMPION III RINK- FACILITIES FOR SKATING AND HOCKEY PROGRAMS
OPERATION OF THE NUGGET MOVIE THEATER
DONATIONS TO THE TOWN OF HANOVER AND SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Graham General Manager | Officer | 40 | $109,909 |
Donald E Derrick President | OfficerTrustee | 1 | $0 |
William Hammond Vice President | OfficerTrustee | 1 | $0 |
Aricca Van Citters Director | OfficerTrustee | 1 | $0 |
Jeanne E Young Secretary | OfficerTrustee | 1 | $0 |
Richard Lemay Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $286,591 |
| Investment income | $79,142 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,347 |
| Net Gain/Loss on Asset Sales | $86,666 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,096,485 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $104,836 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $340,514 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $147,846 |
| Payroll taxes | $0 |
| Fees for services: Management | $6,000 |
| Fees for services: Legal | $30,655 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,457 |
| Advertising and promotion | $860 |
| Office expenses | $40,590 |
| Information technology | $3,150 |
| Royalties | $0 |
| Occupancy | $232,084 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,494 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $228,855 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,203,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $179,638 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $193,492 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,662 |
| Prepaid expenses and deferred charges | $10,491 |
| Investments—publicly traded securities | $4,931,849 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,933,275 |
| Accounts payable and accrued expenses | $54,000 |
| Grants payable | $0 |
| Deferred revenue | $284,291 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $252,892 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,960 |
| Total liabilities | $594,143 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $7,339,132 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hanover Improvement Society Corp has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Kevin And Suzanne Schon Foundation Inc Sherman Oaks, CA PURPOSE: SEE ATTACHED SCHEDULE | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Springfield Jewish Community Center Inc Springfield, MA | $15,393,582 | $6,006,732 |
Hale Education Inc Westwood, MA | $13,658,620 | $6,417,685 |
Berkshire South Regional Community Great Barrington, MA | $6,361,142 | $3,407,835 |
Roudenbush Community Center Inc Westford, MA | $1,609,870 | $2,843,797 |
Carter Community Building Association Lebanon, NH | $8,967,998 | $2,473,959 |
Sara M Holbrook Community Center Burlington, VT | $4,963,874 | $1,016,284 |
Hanover Improvement Society Corp Hanover, NH | $7,933,275 | $1,096,485 |
Nantucket Ice Company Inc Nantucket, MA | $4,614,240 | $553,500 |
Keene Ice Center Enterprise Inc Keene, NH | $7,404,749 | $504,721 |
New England Sports Complex Inc Rye, NH | $7,077,527 | $346,169 |
Union Arena Inc Woodstock, VT | $1,106,557 | $561,286 |
Collins-Perley Sport Center Inc St Albans, VT | $1,354,832 | $611,749 |