Island Housing Trust

Analysis

Island Housing Trust is a registered charity in United States, based in Mount Desert, ME. It received its IRS tax-exemption ruling in September 1994, 32 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 reported income of $1.0m and spending of $512k, leaving 51% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $367k to $1.0m (+184%), an average of +30% a year. The sharpest change came in the year to December 2020, when income rose by 234%. Over the whole period it spent 36% 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 sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 77th percentile within ME. Charities of a similar size with the same main cause include St Luke Housing Development Fund Co Inc ($1.0m), Home Repair Resource Center ($1.0m) and Atlantis Community Foundation ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 105% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $102k (20% of expenses). Other salaries and wages came to $141k. At year end it held assets of $5.3m against liabilities of $16k, net assets of $5.3m. It reported 4 employees.