Great Island Foundation
Great Island Foundation shows recurring operational deficits despite substantial assets and no reported officer compensation.
EIN: 134049061 · New York, NY · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $114.2M |
| Total Expenses | $3.4M |
| Program Spending | 70% |
| Net Assets | $30.5M |
| Transparency Score | 65/100 |
Is Great Island Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Great Island Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Great Island Foundation
Great Island Foundation (EIN: 134049061) is a nonprofit organization based in New York, NY, classified under NTEE code T20. The organization reported total revenue of $114.2M and total assets of $99.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Great Island Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Great Island Foundation is a major nonprofit that has been operating for 27 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 20.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.0M |
| Total Expenses | $3.4M |
| Surplus / Deficit | $-346,948 |
| Total Assets | $30.5M |
| Total Liabilities | $1 |
| Net Assets | $30.5M |
| Operating Margin | -11.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 108.7 months |
Financial Health Grade: B
In 2023, Great Island Foundation reported a deficit of $347K with expenses exceeding revenue, holds 108.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Great Island Foundation's revenue has grown at a compound annual growth rate (CAGR) of 20.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +196.9% | +44.1% | -5.1% |
| 2022 | -88.3% | -43.1% | -2.7% |
| 2021 | +389.7% | +50.7% | +24.7% |
| 2020 | -2.0% | +5.5% | -0.4% |
| 2019 | +179.9% | +24.0% | +31.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Great Island Foundation with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Great Island Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $347K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Great Island Foundation consistently reports 0% officer compensation across all provided filing periods, indicating that no portion of its expenses is allocated to executive salaries, which is highly unusual for an organization of its size and revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Great Island Foundation's IRS 990 filings:
- Recurring operational deficits (e.g., 2023, 2022, 2020, 2019, 2015, 2011)
- Unusually high assets relative to recent annual revenue and expenses, suggesting a large endowment that may not be fully utilized for current programs or that current operations are heavily subsidized by it.
- Consistent 0% officer compensation, which, while seemingly positive, can sometimes mask compensation structures or indicate a lack of professional leadership in a large organization.
Strengths
The following positive indicators were identified for Great Island Foundation:
- Substantial asset base ($99,033,449) providing financial stability and potential for future growth.
- Consistently low liabilities ($0-$1 in most recent filings), indicating strong balance sheet management.
- No reported officer compensation, suggesting resources are not diverted to executive salaries.
Frequently Asked Questions about Great Island Foundation
Is Great Island Foundation a legitimate charity?
Great Island Foundation (EIN: 134049061) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 65/100. It has 10 years of IRS 990 filings on record. Total revenue: $114.2M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Great Island Foundation spend its money?
Great Island Foundation directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Great Island Foundation tax-deductible?
Great Island Foundation is registered as a tax-exempt nonprofit (EIN: 134049061). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Great Island Foundation's spending goes to programs?
Great Island Foundation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Great Island Foundation compare to similar nonprofits?
With a transparency score of 65/100 (Good), Great Island Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Great Island Foundation located?
Great Island Foundation is headquartered in New York, New York and files with the IRS under EIN 134049061. It is classified under NTEE code T20.
How many years of IRS 990 filings does Great Island Foundation have?
Great Island Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $114.2M in total revenue.
Is Great Island Foundation a good charity?
The Great Island Foundation demonstrates a commitment to not paying officer compensation, which is a positive. However, the recurring operational deficits (e.g., $3,363,181 expenses vs. $3,016,233 revenue in 2023) suggest potential sustainability challenges. A deeper look into their program effectiveness and detailed expense allocation would be needed for a definitive answer.
Why does Great Island Foundation consistently report 0% officer compensation?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization with revenues reaching over $8 million in some years. This could indicate that officers are volunteers, compensated through other means not classified as 'officer compensation' on the 990, or that the organization's structure does not involve paid officers in the traditional sense.
How does Great Island Foundation manage its operational deficits?
The organization has experienced several years where expenses exceeded revenue, such as in 2023 ($3,363,181 expenses vs. $3,016,233 revenue) and 2022 ($2,334,305 expenses vs. $1,016,055 revenue). Given its substantial assets ($99,033,449), it likely covers these deficits by drawing from its endowment or investment income, but this is not sustainable long-term without corresponding revenue growth.
Filing History
IRS 990 filing history for Great Island Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Great Island Foundation's revenue has grown by 795.9%, moving from $337K to $3.0M. Total assets increased by 218.9% over the same period, from $9.6M to $30.5M. Total functional expenses rose by 77%, from $1.9M to $3.4M. In its most recent filing year (2023), Great Island Foundation reported a deficit of $347K, with expenses exceeding revenue. The organization holds $1 in liabilities against $30.5M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $30.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.0M | $3.4M | $30.5M | $1 | — | View 990 |
| 2022 | $1.0M | $2.3M | $32.1M | $1 | — | View 990 |
| 2021 | $8.7M | $4.1M | $33.0M | $1 | — | View 990 |
| 2020 | $1.8M | $2.7M | $26.4M | $1 | — | View 990 |
| 2019 | $1.8M | $2.6M | $26.5M | $0 | — | View 990 |
| 2015 | $645K | $2.1M | $20.2M | $0 | — | View 990 |
| 2014 | $1.6M | $1.5M | $21.4M | $0 | — | View 990 |
| 2013 | $6.9M | $1.6M | $21.9M | $10 | — | View 990 |
| 2012 | $7.0M | $761K | $16.1M | $0 | — | View 990 |
| 2011 | $337K | $1.9M | $9.6M | $1K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.0M, expenses of $3.4M, and assets of $30.5M (revenue +196.9% year-over-year).
- 2022: Revenue of $1.0M, expenses of $2.3M, and assets of $32.1M (revenue -88.3% year-over-year).
- 2021: Revenue of $8.7M, expenses of $4.1M, and assets of $33.0M (revenue +389.7% year-over-year).
- 2020: Revenue of $1.8M, expenses of $2.7M, and assets of $26.4M (revenue -2.0% year-over-year).
- 2019: Revenue of $1.8M, expenses of $2.6M, and assets of $26.5M (revenue +179.9% year-over-year).
- 2015: Revenue of $645K, expenses of $2.1M, and assets of $20.2M (revenue -59.7% year-over-year).
- 2014: Revenue of $1.6M, expenses of $1.5M, and assets of $21.4M (revenue -77.0% year-over-year).
- 2013: Revenue of $6.9M, expenses of $1.6M, and assets of $21.9M (revenue -1.5% year-over-year).
- 2012: Revenue of $7.0M, expenses of $761K, and assets of $16.1M (revenue +1990.7% year-over-year).
- 2011: Revenue of $337K, expenses of $1.9M, and assets of $9.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Great Island Foundation:
Data Sources and Methodology
This transparency report for Great Island Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.