Hanover College Trustees in Hanover, Indiana (IN)

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Hanover College Trustees
Employer Identification Number (EIN)350868096
Name of OrganizationHanover College Trustees
In Care of NameHeather Chism
AddressPO BOX 108, Hanover, IN 47243-0108
ActivitiesPrivate school, School, college, trade school, etc.
SubsectionEducational Organization
Ruling Date04/1953
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$238,884,551
Amount of Income$113,157,213
Form 990 Revenue Amount$53,495,780
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Undergraduate College (4-year)


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Amount of income in 2014: $113,157,213
This organization: 

 $113,157,213
Other organizations performing similar types of work: 

 $66,253,053

Assets in 2014: $238,884,551
This organization: 

 $238,884,551
Other organizations performing similar types of work: 

 $118,174,264

Expenses in 2013: $54,872,097
This organization: 

 $54,872,097
Other organizations performing similar types of work: 

 $52,716,293

Income to expenses ratio in 2013: 2.1
Hanover College Trustees: 

 2.1
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2007: 87.7%
Hanover College Trustees: 

 87.7%
Other organizations performing similar types of work: 

 83.2%

Number of employees in 2013: 1,021
This organization: 

 1,021
Other organizations performing similar types of work: 

 1,113

Employees paid over $100,000 in 2013: 1.4%
Hanover College Trustees: 

 1.4%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 7.8%
This organization: 

 7.8%
Other organizations performing similar types of work: 

 4.4%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNo
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?YesNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNo
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?YesYes
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?YesYes
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 1096217147
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return9751,021
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYes
Has it filed a Form 990-T for this year?YesYes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$1,004,110$1,197,313
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$66,953$129,548
Total number of individuals who received more than $100,000 of reportable compensation from the organization79
Total number of independent contractors who received more than $100,000 of compensation from the organization35
Statement of Revenue
201120122013
Total revenue$48,592,386$52,650,502$62,579,285
Contributions, Gifts, Grants and Other Similar Amounts$6,129,366$6,701,275$4,855,669
Program Service Revenue$34,539,444$37,949,805$41,324,428
611600$30,292,545$33,490,282
611600$3,017,292$3,328,214
611600$3,564,897$4,188,502
611600$41,327$47,588
611600$236,353$209,276
All other program service revenue$797,391$60,566
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$2,925,481$3,979,221$3,089,371
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$4,974,987$4,018,014$13,295,824
Gross amount from sales of assets other than inventory (Securities / Other)$33,957,247 / $0$62,815,386 / $55,512$127,547,945 / $234,314
Less: cost or other basis and sales expenses (Securities / Other)$28,962,260 / $20,000$58,516,637 / $336,247$114,486,435 / $0
Gain or (loss) (Securities / Other)$4,994,987 / $-20,000$4,298,749 / $-280,735$13,061,510 / $234,314
Net income/loss from fundraising events$-18,097$-2,535$-27,642
Gross income from fundraising events$34,072$46,393$54,528
Less: direct expenses$52,169$48,928$82,170
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$41,205$4,722$41,635
Fitness and Recreational Sports Centers $4,722$41,635
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$49,152,942$52,452,040$54,872,097
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$18,105,052$19,571,945
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$999,825$677,220$681,924
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$14,278,744$15,427,728$15,719,699
Pension plan accruals and contributions$1,150,322$1,346,525
Other employee benefits$1,962,350$1,936,880
Payroll taxes$998,104$1,127,678$1,142,253
Fees for services (non-employees)
Management$0$0
Legal$54,411$80,619
Accounting$98,691$113,963
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$230,539$449,353
Other$1,267,264$1,279,397
Advertising and promotion$103,626$87,984
Office expenses$1,476,171$1,346,891
Information technology$141,095$250,591
Royalties$0$0
Occupancy$3,116,498$5,235,642
Travel$1,351,525$1,042,071
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$63,618$86,834
Interest$752,908$1,760,753
Payments to affiliates$0$0
Depreciation, depletion, and amortization$2,955,503$0
Insurance$524,590$536,927
Other expenses$1,729,282$1,615,576
Other expenses$49,926$52,088
Other expenses$338,833$439,399
Other expenses$-179,405$446,224
Other expenses$-73,385$-351,441
Balance Sheet
201120122013
Total assets$213,732,199$201,909,348$221,540,546
Cash - non-interest-bearing$20,932$5,285
Savings and temporary cash investments$19,433,032$8,402,011
Pledges and grants receivable, net$4,270,630$4,251,071
Accounts receivable, net$345,091$592,039
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$251,604$239,604
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$754,809$589,525
Land, buildings, and equipment: cost or other basis$51,588,737$52,295,707
Investments - publicly traded securities$51,284,962$6,965,524
Investments - other securities$52,969,993$129,071,430
Investments - program-related$0$8,606,929
Intangible assets$0$0
Other assets$20,989,558$10,521,421
Total liabilities$20,367,595$19,209,183$31,100,554
Accounts payable and accrued expenses$2,551,580$4,137,407
Grants payable$0$0
Deferred revenue$708,341$1,889,485
Tax-exempt bond liabilities$16,065,653$14,702,185$23,298,667
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$1,247,077$1,774,995
Total net assets or fund balances$193,364,604$182,700,165$190,439,992
Unrestricted net assets$69,647,090$75,807,805
Temporarily restricted net assets$27,094,186$26,140,674
Permanently restricted net assets$85,958,889$88,491,513
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Number of organizations supported0
Sum of amounts of support$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$36,224,907$26,247,232$24,258,061$52,470,769$38,856,331$45,944,866$48,140,145$47,556,145
Contributions, gifts, grants, and similar amounts received$6,774,341$3,474,631$4,123,964$18,034,408$4,140,893$3,463,636$3,538,504$2,876,488
Contributions to donor advised funds$0$0
Direct public support$6,774,341$3,474,631$4,123,964$18,034,408$4,140,893$3,463,636$3,538,504$2,876,488
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$17,572,751$17,561,948$18,220,802$23,390,425$25,870,350$25,918,133$26,620,785$27,085,534
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0$0$0$0
Dividends and interest from securities$5,369,878$5,730,736$4,680,334$3,618,317$4,377,618$4,036,807$4,363,985$4,159,625
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$6,507,937$-686,156$-2,910,096$7,152,430$4,262,406$12,624,743$13,130,762$12,900,470
Gross amount from sales of assets other than inventory$211,718,905$150,159,333$138,118,089$135,789,825$59,719,592$80,004,636$42,113,207$60,133,833
Less: cost or other basis and sales expenses$205,210,968$150,845,489$141,028,185$128,637,395$55,457,186$67,379,893$28,982,445$47,233,363
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$166,073$143,057$275,189$205,064$-98,453$486,109$534,028
Total expenses$32,891,579$34,946,004$33,407,524$38,474,077$40,989,925$43,224,463$45,171,629$43,839,172
Program services$25,590,592$28,743,805$28,845,313$33,824,043$35,794,413$38,105,935$39,627,995$38,468,498
Management and general$5,603,207$4,570,998$3,020,230$2,992,359$3,386,243$3,269,675$3,671,959$3,726,303
Fundraising$1,697,780$1,631,201$1,541,981$1,657,675$1,809,269$1,848,853$1,871,675$1,644,371
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$218,602,395$191,317,000$183,202,219$209,553,043$212,756,263$217,210,214$237,900,337$219,008,100
Excess or (deficit) for the year$3,333,328$-8,698,772$-9,149,463$13,996,692$-2,133,594$2,720,403$2,968,516$3,716,973
Net assets or fund balances at beginning of year$235,167,588$218,602,395$191,317,000$183,202,219$209,553,043$212,756,263$217,210,214$237,900,337
Other changes in net assets or fund balances$-19,898,521$-18,586,623$1,034,682$12,354,132$5,336,814$1,733,548$17,721,607$-22,609,210
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$43,839,172$38,468,498$3,726,303$1,644,371
Grants paid from donor advised funds$0
Other grants and allocations$12,612,175
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$920,516$396,600$368,083$155,833
Compensation of former officers, directors, key employees, etc.$343,120$0$343,120$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$15,720,634$13,042,789$1,869,136$808,709
Pension plan contributions not included above$1,180,598$888,321$227,905$64,372
Employee benefits not included above$1,341,858$979,421$277,742$84,695
Payroll taxes$1,022,669$783,597$174,408$64,664
Professional fundraising fees$0$0$0$0
Accounting fees$93,024$0$93,024$0
Legal fees$27,502$375$27,127$0
Supplies$223,906$94,427$129,479$0
Telephone$144,925$81,637$57,180$6,108
Postage and shipping$397,234$207,623$149,236$40,375
Occupancy$1,738,584$426,627$1,311,957$0
Equipment rental and maintenance$529,250$526,830$0$2,420
Printing and publications$904,928$682,824$73,352$148,752
Travel$421,950$312,654$65,827$43,469
Conferences, conventions, and meetings$61,230$41,639$19,101$490
Interest$1,516,582$0$1,516,582$0
Depreciation, depletion, etc.$2,527,425$2,238,132$289,293$0
Other expenses not covered above$2,111,062$5,152,827$-3,266,249$224,484
Balance Sheets
20002001200220032004200520062007
Total assets$244,363,597$215,171,906$205,148,349$230,783,744$232,647,433$236,561,062$262,662,830$243,075,843
Cash - non-interest-bearing$62,423$0$0$0$0$0$0$0
Savings and temporary cash investments$592,211$1,352,434$1,399,103$995,443$1,563,354$1,987,047$2,375,537$4,576,213
Accounts receivable less allowance for doubtful accounts$675,644$329,529$247,564$245,101$272,462$296,829$158,256$195,031
Pledges receivable less allowance for doubtful accounts$1,059,139$420,742$143,495$352,841$28,966$398,766$105,248$42,766
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$54,471$341,284$300,000$300,000$300,000$330,000$325,000$299,611
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$112,057$47,078$100,611$156,996$374,266$561,170$266,606$366,022
Investments - publicly-traded securities$0$69,160,910
Investments - other securities$169,926,943$135,155,996$123,031,947$148,418,482$150,990,032$155,228,541$181,399,058$88,656,720
Investments - land, buildings, and equipment less accumulated depreciation$102,000$20,000$20,000$20,000$20,000$20,000$20,000$20,000
Investments - other$691,630$236,523$177,822$184,712$193,376$199,185$0$0
Land, buildings, and equipment less accumulated depreciation$48,621,608$57,739,539$59,583,241$57,709,120$55,819,733$53,458,458$51,467,375$55,151,892
Other assets, including program-related investments$22,465,471$19,528,781$20,144,566$22,401,049$23,085,244$24,081,066$26,545,750$24,606,678
Total liabilities$25,761,202$23,854,906$21,946,130$21,230,701$19,891,170$19,350,848$24,762,493$24,067,743
Accounts payable and accrued expenses$2,770,808$2,199,972$2,056,322$2,118,127$1,763,953$2,057,998$2,365,713$2,988,428
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$795,357$643,526$643,567$565,050$482,433$524,269$500,447$397,997
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$22,031,236$20,016,271$17,971,779$17,356,016$16,471,948$15,517,880$20,533,812$19,529,745
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$163,801$995,137$1,274,462$1,191,508$1,172,836$1,250,701$1,362,521$1,151,573
Total liabilities and net assets/fund balances$244,363,597$215,171,906$205,148,349$230,783,744$232,647,433$236,561,062$262,662,830$243,075,843
Total net assets or fund balances$218,602,395$191,317,000$183,202,219$209,553,043$212,756,263$217,210,214$237,900,337$219,008,100
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$36,224,907$26,247,232$24,258,061$52,470,769$38,856,331$45,944,866$48,140,145$47,556,145
Total revenue, gains, and other support per audited financial statements$10,767,559$28,417,528$29,329,236$54,245,095$32,401,201$35,448,085$53,350,557$12,486,776
Other expenses$-19,898,521$26,588,910$11,035,148$12,519,762$5,375,530$1,796,564$17,831,137$-21,600,303
Net unrealized gains on investments$-19,898,521$0$0$12,519,762$5,375,530$1,796,564$17,831,137$-21,600,303
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$26,588,910$11,035,148$0$0$0$0$0
Other revenue$5,558,827$24,418,614$5,963,973$10,745,436$11,830,660$12,293,345$12,620,725$13,469,066
Investment expenses$708,803$596,036$325,161$287,775$230,110$390,171$381,306$360,962
Other$4,850,024$23,822,578$5,638,812$10,457,661$11,600,550$11,903,174$12,239,419$13,108,104
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$32,891,579$34,946,004$33,407,524$38,474,077$40,989,925$43,224,463$45,171,629$43,839,172
Total expenses and losses per audited financial statements$27,332,752$29,114,013$27,572,579$27,894,271$29,197,981$30,994,134$32,660,434$31,379,013
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$5,558,827$5,831,991$5,834,945$10,579,806$11,791,944$12,230,329$12,511,195$12,460,159
Investment expenses$708,803$596,036$0$287,775$230,110$390,171$381,306$360,962
Other$4,850,024$5,235,955$5,834,945$10,292,031$11,561,834$11,840,158$12,129,889$12,099,197
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$250,000$24,087$0
40$115,833$20,613$0
40$118,083$18,470$0
40$95,333$18,563$0
40$99,267$19,194$0
40$155,833$22,931$0
40$86,167$17,646$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings25
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
Loans and AdvancesCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
$0$343,120$33,481$0
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006310
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$-234,685$17,139,332$27,775,010
Program service revenue
Program service revenue 1000000$000$0$21,803,150
Program service revenue 2000000$000$0$2,483,337
Program service revenue 3000000$000$0$2,467,457
Program service revenue 4000000$000$0$144,905
Program service revenue 5000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$79,237$107,448
$0$0$21,803,150
$0$0$2,467,457
$0$0$2,483,337
$03$50,000$0
$03$29,237$0
$0$0$144,905
$0$0$4,313
$0$0$103,135
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$4,159,625$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$12,900,470$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenueOther financial vehicles$-234,68500$0$768,713
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
351920556100%$4,850$1,000
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$110,900$20,394$0
$101,611$17,001$0
$97,750$16,615$0
$96,133$12,837$0
$98,517$9,852$0
Total number of other employees paid over $50,000106
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2009)
IncomeExpensesNet
Total$-366,283$0$-366,283
Gross receipts or sales less returns and allowances$48,957$0$0
Cost of goods sold$0$0$0
Gross profit$489,571$0$48,957
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$-415,240$0$-415,240
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2009)
Total deductions$37,986
Compensation of officers, directors, and trustees$0
Salaries and wages$16,580
Repairs and maintenance$830
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$4,715
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$15,861
Unrelated business taxable income$-404,269
Unrelated business taxable income before net operating loss deduction$-404,269
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-404,269
Specific deduction$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Depauw UniversityPO BOX 37, Greencastle, IN 46135-0037IN1930-01$451,073,068
2Wabash College301 W Wabash Avenue, Crawfordsville, IN 47933-2417IN1941-11$259,056,134
3Marian University3200 Cold Spring Rd, Indianapolis, IN 46222-1960IN1946-03$120,153,174
4Hanover College TrusteesPO BOX 108, Hanover, IN 47243-0108IN1953-04$113,157,213
5Earlham College801 National Rd W, Richmond, IN 47374-4021IN1935-03$111,953,458
6Saint Marys College, The Northern Trust Company153 Lemans Hall, Notre Dame, IN 46556-5001IN1946-03$109,496,423
7Trine University Inc, Society Of Women Engineers1 Universiy Ave, Angola, IN 46703IN1948-04$74,556,807
8Anderson University Inc1100 E 5th St, Anderson, IN 46012-3462IN1926-09$74,227,812
9Manchester University Inc604 E College Ave, N Manchester, IN 46962-1276IN1949-01$70,710,692
10University Of Saint Francis Of Fort Wayne Indiana Inc2701 Spring St, Fort Wayne, IN 46808-3939IN1946-03$67,723,251
11Franklin College Of Indiana101 Branigin Blvd, Franklin, IN 46131-2598IN1937-04$64,783,176
12Bethel College Inc1001 Bethel Cir, Mishawaka, IN 46545-2232IN1948-10$44,875,988
13Huntington University Inc2303 College Ave, Huntington, IN 46750-1237IN1945-05$42,490,214
14Saint Josephs CollegeHwy 231 South, Rensselaer, IN 47978IN1938-04$35,978,094
15Oakland City University138 N Lucretia St, Oakland City, IN 47660-1038IN1934-06$28,357,883
16Talladega College627 Battle St W, Talladega, AL 35160-2354AL1945-05$18,799,314
17Breakthrough Bible Institute College Inc4305 St Barnabas Rd 402 4305 St Barnabas Rd, Temple Hill, MD 20748MD2007-03$408,000
18Campbell Bible CollegePO BOX 12567, Charleston, SC 29422-2567SC2007-07$8,700
19Martin College11469 Olive Blvd Pmb 116, St Louis, MO 63141-7108MO1999-05$0
20Williams Baptist College60 W Fulbright Ave, Walnut Ridge, AR 72476-9000AR2002-06$0
Number of organizations performing similar types of work
Alabama8
Arkansas8
California16
Connecticut5
District of Columbia2
Florida11
Georgia13
Iowa15
Idaho2
Illinois21
Indiana16
Kansas8
Kentucky10
Louisiana2
Massachusetts28
Maryland7
Maine6
Michigan14
Minnesota9
Missouri11
Mississippi5
Montana2
North Carolina18
North Dakota2
Nebraska6
New Hampshire7
New Jersey8
New Mexico4
Nevada1
New York33
Ohio26
Oklahoma3
Oregon3
Pennsylvania36
Rhode Island1
South Carolina10
South Dakota4
Tennessee12
Texas9
Virginia12
Vermont5
Washington2
Wisconsin11
West Virginia6
International2
Total440

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