Island Grown Initiative Ltd

Analysis

Island Grown Initiative Ltd is a registered charity in United States, based in Vineyard HVN, MA. It received its IRS tax-exemption ruling in August 2011, 15 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Island Grown Initiative Ltd reported income of $7.1m and spending of $3.1m, leaving 56% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $7.1m (+312%), an average of +42% a year. The sharpest change came in the year to December 2022, when income rose by 70%. Over the whole period it spent 57% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Island Grown Initiative Ltd sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Areawide Aging Agency Inc ($7.1m), Just People Inc ($7.1m) and Rucon Inc ($7.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 104% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $104k (3.3% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $16.1m against liabilities of $1.7m, net assets of $14.5m. It reported 44 employees.