Hanac Inc
- Assets
- $29.1m
- Revenue
- $18.7m
- Investments
- $0.0
- Employees
- 424
- Location
- Astoria, NY
- Founding
- 02/1974
- Data as of
- 06/2023
- EIN
- 11-2290832
Organization Overview
Hanac Inc is located in Astoria, NY. The organization was established in 1974. According to its NTEE Classification (R20) the organization is classified as: Civil Rights, under the broad grouping of Civil Rights, Social Action & Advocacy and related organizations. As of 06/2023, Hanac Inc employed 424 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hanac Inc 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 06/2023, Hanac Inc generated $18.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $18.1m during the year ending 06/2023. While expenses have increased by 4.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP, IMPLEMENT AND ADMINISTER THE OPERATION OF SERVICE PROGRAMS FOR THE BETTERMENT OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AGING -THE HANAC SENIOR CENTERS OFFER CITIZENS, AGE 60 AND ABOVE, AN OPPORTUNITY TO GATHER IN A CONGENIAL ENVIRONMENT TO PARTICIPATE IN ACTIVITIES THAT WILL ENHANCE THEIR ABILITY TO REMAIN ACTIVE AND INVOLVED IN THEIR COMMUNITY. THE JVL SENIOR CENTER AND ITS SATELLITE THE ARCHBISHOP IAKOVOS SENIOR CENTER ARE YEAR ROUND PROGRAMS THAT OPERATE DAILY FROM 9 AM TO 4PM WITH SCHEDULED PROGRAMMING THAT OFFER MEMBERS ACTIVE INFORMAL AND PLANNED SOCIAL ACTIVITIES; THE OPPORTUNITY TO DEVELOP NEW FRIENDSHIPS, INTEREST, HOBBIES, AND EDUCATIONAL OPPORTUNITIES; REFERRALS FOR SOCIAL SERVICES; AND, A DAILY LUNCHEON PROGRAM. MEMBERS ARE ENCOURAGED TO PLAY AN ACTIVE ROLE IN PROGRAM PLANNING AND IN THE DAILY OPERATIONS OF THE CENTERS. THE ADVISORY COMMITTEE, AT EACH CENTER, IS COMPRISED OF SENIOR CITIZENS AND COMMUNITY LEADERS AND MEETS REGULARLY TO DISCUSS PROGRAMMATIC ISSUES AND TO FORMULATE NEW GOALS FOR THE PROGRAM. A STRONG EMPHASIS IS PLACED ON SERVICES TO THE FRAIL ELDERLY. THIS PROGRAM SERVICES ALMOST 50,000 MEALS ANNUALLY WITH 970 EDUCATIONAL/RECREATIONAL ACTIVITIES AND 12 NUTRITION CLASSES. THIS PROGRAM IS FUNDED THROUGH THE NEW YORK CITY DEPARTMENT FOR THE AGING; MEALS AND ACTIVITIES TO OVER 2,000 ELDERLY CLIENTS.
YOUTH SERVICES - PROVIDES AFTER SCHOOL PROGRAMS IN SCHOOLS, NYCHA'S ASTORIA HOUSING DEVELOPMENT AND ON SITE ON HANAC PROPERTY, TO ELEMENTARY, MIDDLE SCHOOL AND HIGH SCHOOL STUDENTS INCLUDING HOMEWORK HELP, TUTORING, ARTS AND CRAFTS, SPORTS AND CURRICULUM BASED PROGRAMMING AS WELL AS LITERACY PROGRAM TO STUDENTS IN NEED OF THESE SERVICES. YOUTH PROGRAMMING IS AVAILABLE FOR STUDENTS RELATED TO TRAINING AND JOB PLACEMENT.
RESIDENTIAL - THE WEATHERIZATION ASSISTANCE PROGRAM IS COMMITTED TO REDUCING HEATING AND ELECTRICAL COSTS WHILE INCREASING COMFORT FOR LOW-INCOME FAMILIES BY IMPROVING THE ENERGY EFFICIENCY OF THEIR HOMES. ONCE AN APPLICANT IS DEEMED ELIGIBLE, A COMPREHENSIVE ENERGY ANALYSIS OF THE APPLICANT'S HOME IS CONDUCTED. BASED ON THAT ANALYSIS AND THE FUNDS AVAILABLE, WEATHERIZATION MEASURES ARE INSTITUTED WHICH HAVE BEEN DETERMINED TO BE THE MOST COST-EFFECTIVE IN REDUCING THE APPLICANT'S ENERGY CONSUMPTION WHILE INCREASING THEIR COMFORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arthur Cheliotis Vice President | OfficerTrustee | 0.25 | $0 |
Constantina Papageorgiou Member Of The Board | Trustee | 0.25 | $0 |
Demetria Tsagaris Member Of The Board | Trustee | 0.25 | $0 |
Dennis Yuelys Treasurer | OfficerTrustee | 0.25 | $0 |
Dr George Syros Member Of The Board | Trustee | 0.25 | $0 |
Evangeline Douris Member Of The Board | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
A-1 State Inc Construction | 6/29/23 | $322,767 |
Artemis Plumbing Llc Construction | 6/29/23 | $165,070 |
Sunshine Heating Construction | 6/29/23 | $163,015 |
Cohnreznick Llp Auditing Services | 6/29/23 | $189,139 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $252,743 |
| Related organizations | $0 |
| Government grants | $17,108,387 |
| All other contributions, gifts, grants, and similar amounts not included above | $544,684 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,905,814 |
| Total Program Service Revenue | $150,209 |
| Investment income | $52,366 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $209,275 |
| Net Gain/Loss on Asset Sales | $21,516 |
| Net Income from Fundraising Events | -$94,158 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,684,279 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $307,680 |
| Compensation of current officers, directors, key employees. | $40,099 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,349,991 |
| Pension plan accruals and contributions | $94,909 |
| Other employee benefits | $914,376 |
| Payroll taxes | $889,707 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,905 |
| Fees for services: Accounting | $39,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,745 |
| Fees for services: Other | $536,342 |
| Advertising and promotion | $15,253 |
| Office expenses | $1,468,483 |
| Information technology | $180,703 |
| Royalties | $0 |
| Occupancy | $911,011 |
| Travel | $288,293 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,144 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $245,166 |
| Insurance | $301,399 |
| All other expenses | $306,063 |
| Total functional expenses | $18,065,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,087,745 |
| Savings and temporary cash investments | $74,717 |
| Pledges and grants receivable | $7,354,849 |
| Accounts receivable, net | $3,031,190 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,551,400 |
| Inventories for sale or use | $3,637 |
| Prepaid expenses and deferred charges | $15,973 |
| Net Land, buildings, and equipment | $567,908 |
| Investments—publicly traded securities | $375,891 |
| Investments—other securities | $0 |
| Investments—program-related | $1,234,229 |
| Intangible assets | $0 |
| Other assets | $2,804,191 |
| Total assets | $29,101,730 |
| Accounts payable and accrued expenses | $3,427,391 |
| Grants payable | $0 |
| Deferred revenue | $2,139,563 |
| 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 | $10,851,400 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,441,366 |
| Total liabilities | $17,859,720 |
| Net assets without donor restrictions | $11,242,010 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $29,101,730 |