Islesboro Affordable Property

Analysis

Islesboro Affordable Property is a registered charity in United States, based in Islesboro, ME. It received its IRS tax-exemption ruling in September 1989, 37 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 June 2023, Islesboro Affordable Property reported income of $383k and spending of $142k, leaving 63% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $146k to $383k (+162%), an average of +38% a year. The sharpest change came in the year to June 2023, when income rose by 163%. Over the whole period it spent 71% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Islesboro Affordable Property sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 61st percentile within ME. Charities of a similar size with the same main cause include Life Line Outreach Inc ($382k), Heritage Place Phase III Inc ($383k) and St Peters Supportive Housing Inc ($382k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $52k (37% of expenses). At year end it held assets of $1.7m against liabilities of $499k, net assets of $1.2m. It reported 1 employees.