Hanover College Trustees
- Assets
- $246.0m
- Revenue
- $66.7m
- Investments
- $150.3m
- Employees
- 717
- Location
- Hanover, IN
- Founding
- 04/1953
- Data as of
- 06/2022
- EIN
- 35-0868096
Organization Overview
Hanover College Trustees is located in Hanover, IN. The organization was established in 1953. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Hanover College Trustees employed 717 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hanover College Trustees 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 06/2022, Hanover College Trustees generated $66.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $77.6m during the year ending 06/2022. While expenses have increased by 2.9% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
HANOVER COLLEGE IS AN INSTITUTION OF HIGHER EDUCATION THAT PROVIDES LIFELONG LEARNING OPPORTUNITIES IN MORE THAN 35 ACADEMIC DISCIPLINES.
Describe the Organization's Program Activity:
COLLEGE: INSTRUCTIONAL SALARIES, STUDENT FINANCIAL AID AND OTHER COSTS WHICH ARE INCURRED TO PROVIDE EDUCATIONAL OPPORTUNITIES FOR THE STUDENTS. APPROXIMATELY 1,023 STUDENTS ATTENDED HANOVER DURING THE YEAR. FOR FY22, THE DOCTOR OF PHYSICAL THERAPY (DPT) PROGRAM BEGAN WITH 79 STUDENTS AND ENDED THE FISCAL YEAR WITH 74.
AUXILIARY ACTIVITIES: EXPENSES INCURRED FOR RESIDENTIAL HALLS, DINING HALL, CAMPUS CENTER AND VARIOUS ENTERPRISES WHICH PROVIDE GOODS AND SERVICES TO THE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parkhursteat'n Park Hospitality Group Dining | 6/29/22 | $2,594,570 |
Wff Facility Services Inc Cleaning | 6/29/22 | $769,465 |
Repp And Mundt Inc Construction | 6/29/22 | $1,673,223 |
Evidence In Motion Llc Continuing Education Services | 6/29/22 | $567,395 |
Jenzabar Software | 6/29/22 | $243,815 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $13,373 |
| Government grants | $6,614,888 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,033,288 |
| Noncash contributions included in lines 1a–1f | $1,105,051 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,661,549 |
| Total Program Service Revenue | $52,600,561 |
| Investment income | $598,278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,001,401 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $66,713,330 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $27,823,090 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $672,627 |
| Compensation of current officers, directors, key employees. | $297,571 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,756,270 |
| Pension plan accruals and contributions | $1,107,426 |
| Other employee benefits | $2,068,993 |
| Payroll taxes | $1,357,962 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $86,263 |
| Fees for services: Accounting | $123,305 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,651,745 |
| Fees for services: Other | $4,084,083 |
| Advertising and promotion | $418,619 |
| Office expenses | $651,717 |
| Information technology | $364,976 |
| Royalties | $0 |
| Occupancy | $2,522,850 |
| Travel | $1,767,169 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35,961 |
| Interest | $1,274,503 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,356,519 |
| Insurance | $782,776 |
| All other expenses | $624,839 |
| Total functional expenses | $77,613,685 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,126 |
| Savings and temporary cash investments | $7,358,866 |
| Pledges and grants receivable | $7,145,480 |
| Accounts receivable, net | $5,137,151 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $798,698 |
| Net Land, buildings, and equipment | $62,373,170 |
| Investments—publicly traded securities | $416,773 |
| Investments—other securities | $150,316,820 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,484,290 |
| Total assets | $246,034,374 |
| Accounts payable and accrued expenses | $3,076,618 |
| Grants payable | $0 |
| Deferred revenue | $2,578,060 |
| Tax-exempt bond liabilities | $18,947,690 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,130,074 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,894,567 |
| Total liabilities | $30,627,009 |
| Net assets without donor restrictions | $85,914,602 |
| Net assets with donor restrictions | $129,492,763 |
| 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 | $246,034,374 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hanover College Trustees has recieved totaling $150,000.
| Awarding Organization | Amount |
|---|---|
Patricia S And William J Hagenah Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $150,000 |
Endowment Analysis
| Beg. Balance | $182,593,272 |
| Earnings | -$15,291,528 |
| Net Contributions | $2,451,679 |
| Other Expense | $10,490,680 |
| Ending Balance | $159,262,743 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Columbia College Chicago Chicago, IL | $667,072,943 | $221,332,415 |
Indiana Wesleyan University Marion, IN | $535,078,455 | $212,201,058 |
Depauw University Greencastle, IN | $1,044,669,443 | $170,125,801 |
Concordia University Inc Mequon, WI | $163,946,113 | $168,516,078 |
Wheaton College Wheaton, IL | $1,105,725,018 | $280,776,360 |
Berea College Berea, KY | $1,637,313,850 | $205,202,087 |
Augustana College Rock Island, IL | $426,442,517 | $147,587,977 |
Marian University Indianapolis, IN | $323,995,376 | $176,218,802 |
Carroll University Inc Waukesha, WI | $261,882,162 | $140,965,442 |
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Lawrence University Of Wisconsin Appleton, WI | $632,228,886 | $124,103,689 |