Hanover College Trustees
91% goes to programs $5 to raise $100 Strong reserves Growing revenue
Hanover College Trustees is a 501(c)(3) organization based in Hanover, Indiana, registered in 1953, with $113,863,379 in FY2024 revenue. CharityIndex grades it A, and it directs about 91% of spending to programs.
517 Ball Dr, Hanover, IN, 47243 EIN 35-0868096 Since 1953
Revenue (FY2024)
$113.9M
▲ 44.3% vs prior year
Education median: $200K
Expenses (FY2024)
$91.0M
Net assets
$255.9M
Employees
879
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating91% to programs · $5 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Hanover College Trustees: 91% to programs · $5 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating34 mo reserves · +20% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Hanover College Trustees: 34 mo reserves · +20% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Hanover College Trustees: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Hanover College Trustees: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Hanover college is an institution of higher education that provides lifelong learning opportunities in more than 35 academic disciplines.
What they do
Auxiliary activities: expenses incurred for residential halls, dining hall, campus center and various enterprises which provide goods and services to the students
Contact & location
- Address
- 517 Ball Dr, Hanover, IN, 47243
- City
- Hanover
- State
- Indiana
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $53.5M (FY2013) to $113.9M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $35.8MNet assets $255.9M
Operating margin
20.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$291.6M
Total liabilities
$35.8M
Net assets
$255.9M
Salaries & benefits
$25.9M
28% of expenses
Board members
32
32 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $113,863,379▲44.3% | $90,999,687▲5.9% | $255,896,985▲16.1% | $291,648,740▲15.2% | 990 |
| 2023 | $78,898,162▲11.8% | $85,928,515▲9.3% | $220,474,352▲1.9% | $253,267,397▲3.3% | 990 |
| 2022 | $70,572,166▲5.8% | $78,645,915▲1.3% | $216,276,953▲0.4% | $245,224,388▼0.3% | 990 |
| 2021 | $66,713,330▲1.1% | $77,613,685▲10.8% | $215,407,365▼10.2% | $246,034,374▼9.7% | 990 |
| 2020 | $65,984,419▼6.0% | $70,078,600▲5.0% | $239,880,055▲20.1% | $272,442,286▲15.4% | 990 |
| 2019 | $70,232,539▲13.3% | $66,715,574▼0.5% | $199,690,442▲2.6% | $236,094,942▲7.8% | 990 |
| 2018 | $61,991,856▲10.5% | $67,072,746▲5.4% | $194,711,840▲1.7% | $219,005,337▲1.1% | 990 |
| 2017 | $56,110,448▲6.0% | $63,608,865▲1.0% | $191,378,993▲0.6% | $216,600,028▲0.6% | 990 |
| 2016 | $52,916,426▼3.4% | $62,972,284▼0.7% | $190,267,005▲3.2% | $215,251,582▲1.8% | 990 |
| 2015 | $54,769,232▲7.5% | $63,438,115▲7.7% | $184,407,208▼8.0% | $211,519,105▼8.0% | 990 |
| 2014 | $50,940,342▼4.8% | $58,889,345▲3.9% | $200,400,018▼3.0% | $229,946,723▼3.7% | 990 |
| 2013 | $53,495,780 | $56,664,722▲3.3% | $206,704,013▲8.5% | $238,884,551▲7.8% | 990 |
| 2012 | — | $54,872,097▲4.6% | $190,439,992▲4.2% | $221,540,546▲9.7% | 990 |
| 2011 | — | $52,452,040▲6.7% | $182,700,165▼5.5% | $201,909,348▼5.5% | 990 |
| 2010 | — | $49,152,942▲7.7% | $193,364,604▲10.3% | $213,732,199▲8.8% | 990 |
| 2009 | — | $45,625,907 | $175,256,878 | $196,410,949 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Dr Lake Lambert — $305,727 (0.34% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Dr Lake Lambert | President | 50 | $305,727 |
| Christina Tran | Founding Dean and Clinical Professor School of Vet Medicine | 50 | $229,167 |
| Carey Adams | Provost and Vp For Academic Affairs | 50 | $176,880 |
| Melba Rodriguez | Vp For Advancement | 50 | $173,352 |
| Vincent Morris | Vp For Business Affairs | 50 | $167,409 |
| Kerry Volansky | Associate Provost For Graduate Studies | 50 | $166,501 |
| Peter Ashley | Vice President For Enrollment and Marketing | 50 | $162,142 |
| Jeffrey Phillips | Professor Emeritus of Engineering | 50 | $152,345 |
| Alicia Hopkins | Board Member | 1 | — |
| Alli Lindenschmidt | Board Member | 1 | — |
| Amanda Black | Board Member | 1 | — |
| Bryan Ruder | Board Member | 1 | — |
| Cameron Trachtman | Board Member | 1 | — |
| Christopher Welker | Board Vice Chair | 1 | — |
| Courtney Kingery | Board Member | 1 | — |
| Daniel Abrell | Board Member | 1 | — |
| Dave A Chroback | Board Member | 1 | — |
| Dr Brian Haag | Board Member | 1 | — |
| D Wade Clapp | Board Member | 1 | — |
| Elaine Kops-bedel | Board Chair | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Evidence In Motion LLC | Continuing Education Services | $5,348,980 |
| Parkhursteat'n Park Hospitality Group | Dining | $3,710,060 |
| Mv Commerical Construction LLC | Construction | $3,345,977 |
| Sullivan & Poore Inc | Construction | $3,139,275 |
| Hagerman Group the | Construction | $1,773,647 |
Grants received · $4.7M total
84 grants to Hanover College Trustees totaling $4.7M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Ayco Charitable Foundation | Education | 2024 | $150,000 |
| Norton Healthcare Inc | Clinical services and financial support of sports med | 2024 | $75,000 |
| American Endowment Foundation | Educational | 2024 | $55,000 |
| Raymond James Charitable Endowment Fund | General support | 2024 | $17,000 |
| Charities Aid Foundation America | Charitable donation | 2024 | $10,678 |
| Greater Horizons | Education | 2024 | $10,000 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $7,000 |
| American Online Giving Foundation Inc | General support | 2024 | $6,947 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $5,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $197,400 |
| Donor Advised Charitable Giving | Education | 2023 | $127,400 |
| Ayco Charitable Foundation | Education | 2023 | $100,000 |
| Columbus Foundation | Education | 2023 | $30,800 |
| American Online Giving Foundation Inc | General support | 2023 | $26,264 |
| Raymond James Charitable Endowment Fund | General support | 2023 | $26,000 |
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Compare Hanover College Trustees
Frequently asked questions
- Is Hanover College Trustees a legitimate nonprofit?
- Yes. Hanover College Trustees is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 35-0868096, based in Hanover, Indiana. Donations are tax-deductible.
- What is Hanover College Trustees's EIN?
- Hanover College Trustees's Employer Identification Number (EIN) is 35-0868096.
- How much revenue does Hanover College Trustees report?
- Hanover College Trustees reported $113,863,379 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Hanover College Trustees's spending goes to programs?
- Hanover College Trustees spends about 91% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Hanover College Trustees have?
- CharityIndex grades Hanover College Trustees A, based on program efficiency and fundraising cost.
- How much does Hanover College Trustees's highest-paid employee make?
- The highest reported compensation on Hanover College Trustees's latest Form 990 is $305,727, paid to Dr Lake Lambert (President).
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Explore more
Data for Hanover College Trustees (EIN 35-0868096) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.