Island Foundation Inc

Analysis

Island Foundation Inc is a registered charity in United States, based in Corp Christi, TX. It received its IRS tax-exemption ruling in January 1995, 31 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Island Foundation Inc reported income of $6.0m and spending of $5.6m, spending 92% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $5.0m to $6.0m (+21%), an average of +4.9% a year. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Island Foundation Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within TX. Charities of a similar size with the same main cause include Discovery Charter School ($6.0m), Association for the Advancement of Education Inc ($6.0m) and Friends of School in the Square Inc ($6.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 84% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $135k (2.4% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $11.5m against liabilities of $5.1m, net assets of $6.4m. It reported 140 employees.