Island Housing Trust Corporation

Analysis

Island Housing Trust Corporation is a registered charity in United States, based in West Tisbury, MA. It received its IRS tax-exemption ruling in November 2002, 24 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Island Housing Trust Corporation reported income of $5.8m and spending of $4.4m, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.7m to $5.8m (+115%), an average of +21% a year. The sharpest change came in the year to December 2020, when income rose by 82%. Over the whole period it spent 55% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Island Housing Trust Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include St Johns Housing Partnership Inc ($5.8m), Habitat for Humanity of Coastal Fairfield County Inc ($5.8m) and Good Shepherd Housing and Family Services Inc ($5.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $187k (4.3% of expenses). Other salaries and wages came to $962k. At year end it held assets of $40.0m against liabilities of $14.3m, net assets of $25.6m. It reported 16 employees.