Hanover Tavern Foundation
- Assets
- $5.1m
- Revenue
- $608.6k
- Investments
- $0.0
- Employees
- 65
- Location
- Hanover, VA
- Founding
- 02/1991
- Data as of
- 12/2021
- EIN
- 54-1559861
Organization Overview
Hanover Tavern Foundation is located in Hanover, VA. The organization was established in 1991. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Hanover Tavern Foundation employed 65 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hanover Tavern Foundation 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 12/2021, Hanover Tavern Foundation generated $608.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $501.4k during the year ending 12/2021. While expenses have increased by 0.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE, INTERPRET, AND UTILIZE HANOVER TAVERN AS AN HISTORIC, EDUCATIONAL, COMMUNITY AND CULTURAL RESOURCE CENTER FOR THE ENJOYMENT OF ALL.
Describe the Organization's Program Activity:
CONTINUE EXHIBITS, HISTORIC TOURS, SPEAKERS SERIES, FAMILY EVENTS AND EDUCATIONAL PROGRAMMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Deal Executive Director | Officer | 40 | $104,650 |
Steven M Dills President | OfficerTrustee | 1 | $0 |
Susan Mcghee Secretary | OfficerTrustee | 1 | $0 |
Frank B Bradley III Treasurer | OfficerTrustee | 2 | $0 |
Carolyn R Peart Vice President | OfficerTrustee | 1 | $0 |
Ronald W Axselle Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $116,859 |
| Related organizations | $0 |
| Government grants | $205,203 |
| All other contributions, gifts, grants, and similar amounts not included above | $160,061 |
| Noncash contributions included in lines 1a–1f | $700 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $482,123 |
| Total Program Service Revenue | $4,135 |
| Investment income | $3,626 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $119,156 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $23,242 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,148 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $608,618 |
| 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. | $104,649 |
| Compensation of current officers, directors, key employees. | $15,697 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,309 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,407 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,737 |
| Office expenses | $12,507 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $187,194 |
| Insurance | $37,448 |
| All other expenses | $9,497 |
| Total functional expenses | $501,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $954,504 |
| Pledges and grants receivable | $3,070 |
| Accounts receivable, net | $24,168 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,665 |
| Prepaid expenses and deferred charges | $7,534 |
| Net Land, buildings, and equipment | $4,034,491 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,395 |
| Other assets | $0 |
| Total assets | $5,050,827 |
| Accounts payable and accrued expenses | $114,312 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,874 |
| Total liabilities | $121,186 |
| Net assets without donor restrictions | $4,629,944 |
| Net assets with donor restrictions | $299,697 |
| 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 | $5,050,827 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Hanover Tavern Foundation has recieved totaling $19,567.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Inc Richmond, VA PURPOSE: GENERAL PURPOSES | $13,500 |
Louise B Cochrane Charitable Foundation Henrico, VA PURPOSE: GENERAL FUND | $5,000 |
Morton G & Nancy P Thalhimer Foundation Glen Allen, VA PURPOSE: FULFILL EXEMPT PURPOSE | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $67 |
Endowment Analysis
| Beg. Balance | $219,771 |
| Earnings | $3,460 |
| Ending Balance | $223,231 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
White House Historical Association Washington, DC | $70,614,346 | $21,703,882 |
National Links Trust Washington, DC | $8,914,003 | $10,793,468 |
Maymont Foundation Richmond, VA | $38,971,207 | $5,423,725 |
The Lynnwood Foundation Charlotte, NC | $21,387,443 | $5,860,754 |
The Heritage Foundation Of Williamson County Tn Franklin, TN | $23,589,168 | $5,101,900 |
Classical American Homes Preservation Trust Hillsborough, NC | $132,123,539 | $8,113,151 |
Andrew Jackson Foundation Hermitage, TN | $11,010,285 | $4,320,645 |
National Archives Foundation Washington, DC | $14,544,421 | $8,935,036 |
Memphis Chapter For Preservation Of Tennessee Antiquities Nashville, TN | $7,377,257 | $4,193,595 |
House Of The Temple Historic Preservation Foundation Inc Washington, DC | $31,687,828 | $5,822,669 |
Historic Annapolis Inc Annapolis, MD | $11,216,187 | $4,170,932 |
The George Washington Foundation Fredericksburg, VA | $39,220,156 | $2,847,343 |