Island Institute

Analysis

Island Institute is a registered charity in United States, based in Rockland, ME. It received its IRS tax-exemption ruling in April 1987, 39 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Island Institute reported income of $11.3m and spending of $9.0m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.0m to $11.3m (+128%), an average of +23% a year. The sharpest change came in the year to June 2021, when income rose by 66%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Island Institute sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within ME. Charities of a similar size with the same main cause include Keiller Leadership Academy ($11.3m), Caravel Academy Inc ($11.3m) and Girls Middle School ($11.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $490k (5.5% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $36.6m against liabilities of $1.0m, net assets of $35.6m. It reported 83 employees.