Island Mountain Community Development Financial Institution

Analysis

Island Mountain Community Development Financial Institution is a registered charity in United States, based in Havre, MT. It received its IRS tax-exemption ruling in July 2021, 5 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 Mountain Community Development Financial Institution reported income of $797k and spending of $359k, leaving 55% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $252k to $797k (+216%), an average of +78% a year. The sharpest change came in the year to December 2023, when income rose by 89%. Over the whole period it spent 52% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Island Mountain Community Development Financial Institution sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within MT. Charities of a similar size with the same main cause include Sustainable Muncie Corp ($796k), Greensboro Downtown Parks Inc ($797k) and Greater Shreveport Chamber Foundation ($796k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% of the total. Compensation of current officers, directors and key employees was $35k (9.6% of expenses). Other salaries and wages came to $143k. At year end it held assets of $1.3m against liabilities of $562k, net assets of $737k. It reported 3 employees.