Hanover Education Foundation
P.O. Box 1297
Ashland VA 23005
Mission Statement
We develop and sustain community and business partnerships, and serve as effective stewards of resources, to create quality educational opportunities that promote high performance in all students in Hanover County Public Schools.
Leadership
CEO/Executive Director Ms. Margaret P. Hill
Board Chair Mr. G. E. Robertson Stiles II
Board Chair Company Affiliation Marsh & McLennan Agency- Mid Altlantic
Contact Information
Address P.O. Box 1297
Ashland, VA 23005
Telephone 804 365-4565
Fax 804 365-4675
E-mail mhill@hcps.us
History and Background
Year of Incorporation 1991
Former Names
NameYear
HCPS Equipment and Technology Foundation1991
Financial Summary
Revenue vs Expense Bar Graph - All Years
Expense Breakdown Bar Chart - All Years
 
 
Projected Revenue $329,150.00
Projected Expenses $329,150.00
Statements
Mission
We develop and sustain community and business partnerships, and serve as effective stewards of resources, to create quality educational opportunities that promote high performance in all students in Hanover County Public Schools.
Impact
Top Five Accomplishments for 2015-2016:
  1. Gave $28,000 to Hanover teachers for grants in their classrooms thanks to Altria Client Services and HEF       
  2. The availability of $119,000 for Hanover's graduating seniors.
  3. Supporting the Reading Olympics Program for Hanover County Public Schools 
  4. Investments totaling 3.2 million
  5. Supporting the Celebration of Excellence Gala at the Hilton Richmond Hotel 
Top Three Goals for 2015-2016:
 
  1. To cultivate, recruit and develop committed board members who will attract and steward resources.
  2. To expand awareness about the Hanover Education Foundation and its mission among parents, community and business leaders, alumni, teachers and school leaders.
  3. To diversify and increase the funding base.
Needs
Attainment of funds for creative instructional grants.
New ideas to bring in additional funding.
 
Background Formerly known as the Hanover County Public School Equipment & Technology Foundation between 1989-1998, the foundation changed its name to the Hanover Education Foundation, Inc. in June 1998 after receiving 501(c)(3) status.  With the change in the name, the HEF surveyed all Hanover educators and administrators to determine the pressing needs and to help in redefining the mission.  We serve 4 high schools, 4 middle schools, 15 elementary schools, an alternative education school and a trade/technical school.
Areas of Service
Areas Served
Area
Hanover County
Ashland, Beaverdam, Doswell, Hanover, Mechanicsville, Montpelier
Board Chair
Board Chair Mr. G. E. Robertson Stiles II
Company Affiliation Marsh & McLennan Agency- Mid Altlantic
Term July 2016 to June 2018
Email stiles.rob@gmail.com
Board of Directors
Board Members
NameAffiliation
Mr. John F. Axselle IIIThe Supply Room Companies
Ms. Katharine M. Bond Dominion Resources
Mr. Jundie Cadiena Bank of America
Ms. Fatima R. Caldas Fire Solutions, Inc.
Mr. Brett S. Christian Altria Client Services
Mr. Larry R. Cummings TRANE
Mr. Christopher A. Enright Christopher A. Enright, CPA, PLC
Mr. Paul B. Franklin Colonial Farm Credit
Ms. Rachel D. Gann CPACommunity Volunteer
Dr. Michael B. Gill Assistant Superintendent of Instructional Leadership
Ms. Jennifer B. Greif Hanover County Public Schools
Ms. Margaret P. Hill Executive Director
Mr. Brian L. Hyde Performance Physical Therapy & Sports Training
Mr. Michael W. Lowry Owens & Minor, Inc.
Mr. Michael C. Patrick Patrick Auto Group
Ms. Sharon H. Potts Chick-fil-A
Mrs. Dolores S. Settle Can Do Specialty Printing, LLC
Mr. Jeffrey L. Sigmon Brandywine Realty Trust
Mr. G. E. Stiles IIRutherfoord/Marsh McLennan Agency
Ms. Terry S. Stone Hanover County Public Schools
Mr. Thamer E. Temple IIIDurretteCrump PLC
Mr. Christopher R. Whitley Hanover County Public Schools
Mr. Troy R. Yenser Wells Fargo Advisors
Board Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 21
Hispanic/Latino 2
Native American/American Indian 0
Board Demographics - Gender
Male 15
Female 8
Governance
Board Term Lengths 3
Board Term Limits 2
Board Meeting Attendance % 80
Written Board Selection Criteria? Yes
Written Conflict of Interest Policy? No
Percentage Making Monetary Contributions 100
Percentage Making In-Kind Contributions 75
Number of Full Board Meetings Annually 5
Standing Committees
Executive
Finance
Board Development / Board Orientation
Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
Distributions/ Grant Making
Nominating
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Executive Director
Executive Director Ms. Margaret P. Hill
Plans
Organization has a Fundraising Plan? Yes
Organization has a Strategic Plan? Yes
Years Strategic Plan Considers N/A
Date Strategic Plan Adopted Sept 2010
Directors and Officers Insurance Policy Yes
Programs
Description

These grants provide funds to do meaningful educational programs which otherwise would not be affordable.  

Description

Opportunities for our educators are available throughout the year enabling them to get training and coursework they can use in the classroom.

Description

Awarded to graduating seniors to pursue training and educational opportunities beyond high school.

Description

These grants are awarded to encourage, stimulate and enhance creativity in effective instruction in the area of special education and are reserved for the teachers of children with special needs.

Fiscal Year
Projected Revenue $329,150.00
Projected Expenses $329,150.00
Endowment Value $3.22
Spending Policy Income Only
Form 990s
IRS Letter of Exemption
Detailed Financials
Revenue SourcesHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201520142013
Foundation and
Corporation Contributions
$53,000----
Government Contributions$0$0$0
Federal------
State------
Local------
Unspecified------
Individual Contributions$495,371$1,477,807$183,552
$16,222$17,473$14,309
------
Investment Income, Net of Losses$27,649$246,122$121,231
Membership Dues------
Special Events$23,018----
Revenue In-Kind$106,294$72,823$85,131
Other------
Expense Allocation
Fiscal Year201520142013
Program Expense$241,201$195,959$162,876
Administration Expense$98,521$54,037$84,816
Fundraising Expense$117,067$132,069$41,225
Payments to Affiliates------
Total Revenue/Total Expenses1.584.751.40
Program Expense/Total Expenses53%51%56%
Fundraising Expense/Contributed Revenue20%9%21%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$3,177,177$2,920,559$1,505,874
Current Assets$292,591$304,620$292,608
Long-Term Liabilities$0----
Current Liabilities$0$8,147$25,622
Total Net Assets$3,177,177$2,912,412$1,480,252
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities--37.3911.42
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets0%0%0%
Capital Campaign
Currently in a Capital Campaign? No
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit ExemptionView
Comments
Foundation Comments
  • Financial information provided from audited financial statements.
  • Audited financial statements prepared by Harris, Hardy & Johnstone, PC.
  • IRS 990s prepared by Margaret P. Hill, Executive Director.
  • Revenue from "Indviduals" also includes revenue from special events as well as corporate and foundation support.