The Hannon Foundation Inc

Nonprofit profile at a glance

EIN
812152385
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
South Easton, MA, USA
Phone
5085242911
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Patient Services - Entertainment, Recreation

Official website

Reported finances

Revenue
$171,357
Expenses
$187,562
Assets
$89,246
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • ALISON HANNON (CO-FOUNDER/PRESIDENT)
  • EDWARD HANNON III (CO-FOUNDER/VICE- PRESIDENT)

Highest reported compensation

  • LAURIE HANNON (GENERAL MANAGER): $18,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The hannon foundation inc. Was formed to assist families in eastern Massachusetts who are in financial crisis due to a parent's loss of employment, or a family member's medical condition. Our mission is to help our community reach physical, mental, and financial health one family at a time.

What it reported doing in 2024

Assisted families in eastern Massachusetts who are in financial crisis due to a parent's loss of employment, or a family member's medical condition. Contributed to food pantries during the holiday season to help with families' food insecurity.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 71
  • Accountability: 90
  • Sustainability: 30
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.2%; rating input score 92
  • Program expense ratio: 84.2%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 84.2%; rating input score 84; 50th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -9.5%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.48; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 9.6%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 64.3% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -1.5% per year; rating input score 0; 18th percentile among comparable filings
  • Asset growth: -16.6% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 92.2% of revenue deployed · 84.2% of spending went to programs
  • Governance: 2 of 2 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $158K in reported program spending
  • Leadership: top reported pay $18K · 3 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 29/100.