Island Heritage Trust Inc
Island Heritage Trust Inc shows consistent asset growth and strong financial surpluses with no reported officer compensation.
EIN: 10426251 · Deer Isle, ME · NTEE: C340 · Updated: 2026-03-28
Is Island Heritage Trust Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Island Heritage Trust Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Island Heritage Trust Inc
Island Heritage Trust Inc (EIN: 10426251) is a nonprofit organization based in Deer Isle, ME, classified under NTEE code C340. The organization reported total revenue of $1.2M and total assets of $2.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Island Heritage Trust Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Island Heritage Trust Inc is a mid-size nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $841K |
| Total Expenses | $487K |
| Surplus / Deficit | +$354K |
| Total Assets | $1.8M |
| Total Liabilities | $47K |
| Net Assets | $1.8M |
| Operating Margin | 42.1% |
| Debt-to-Asset Ratio | 2.6% |
| Months of Reserves | 44.8 months |
Financial Health Grade: A
In 2023, Island Heritage Trust Inc reported a surplus of $354K with revenue exceeding expenses, holds 44.8 months of operating reserves (strong position), has a debt-to-asset ratio of 2.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Island Heritage Trust Inc's revenue has grown at a compound annual growth rate (CAGR) of 14.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +33.3% | +3.4% | +26.5% |
| 2022 | +25.5% | +20.2% | -2.7% |
| 2021 | +15.7% | +20.1% | +21.2% |
| 2020 | +28.1% | -4.4% | +11.7% |
| 2019 | -7.6% | -1.7% | +6.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1987 |
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 Island Heritage Trust Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Island Heritage Trust Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $354K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.6%.
Executive Compensation Analysis
Island Heritage Trust Inc reports 0% officer compensation across all available filings, suggesting that executive leadership is either entirely volunteer-based or compensated below IRS reporting thresholds, which is a positive indicator for resource allocation directly to the organization's mission.
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.
Strengths
The following positive indicators were identified for Island Heritage Trust Inc:
- Consistent and significant asset growth, from $989,364 in 2015 to $1,817,586 in 2023.
- Strong financial surpluses, with revenue consistently exceeding expenses, particularly in recent years (e.g., $840,772 revenue vs. $486,516 expenses in 2023).
- No reported officer compensation across all filings, indicating efficient use of funds and potential volunteer leadership.
- Long history of consistent IRS 990 filings, demonstrating transparency.
- Low liabilities relative to assets, indicating strong financial stability (e.g., $46,740 liabilities vs. $1,817,586 assets in 2023).
Frequently Asked Questions about Island Heritage Trust Inc
Is Island Heritage Trust Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Island Heritage Trust Inc (EIN: 10426251) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Island Heritage Trust Inc spend its money?
Island Heritage Trust Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Island Heritage Trust Inc tax-deductible?
Island Heritage Trust Inc is registered as a tax-exempt nonprofit (EIN: 10426251). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Island Heritage Trust Inc a good charity?
Based on its financial data, Island Heritage Trust Inc appears to be a very good charity. It demonstrates strong financial health, consistent asset growth, and efficient spending with no reported officer compensation, indicating a high dedication of resources to its mission.
How has Island Heritage Trust Inc's financial health changed over time?
Island Heritage Trust Inc has shown significant financial improvement and growth. Its assets have nearly doubled from $989,364 in 2015 to $1,817,586 in 2023, and it has consistently generated surpluses, especially in recent years, with revenue of $840,772 against expenses of $486,516 in 2023.
What is the organization's approach to executive compensation?
The organization reports 0% officer compensation in all available IRS 990 filings, suggesting that executive roles are either filled by volunteers or compensated at levels that do not meet IRS reporting requirements for officers, directors, trustees, and key employees.
Filing History
IRS 990 filing history for Island Heritage Trust Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Island Heritage Trust Inc's revenue has grown by 420.1%, moving from $162K to $841K. Total assets increased by 113.8% over the same period, from $850K to $1.8M. Total functional expenses rose by 156%, from $190K to $487K. In its most recent filing year (2023), Island Heritage Trust Inc reported a surplus of $354K, with revenue exceeding expenses. The organization holds $47K in liabilities against $1.8M in assets (debt-to-asset ratio: 2.6%), resulting in net assets of $1.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $841K | $487K | $1.8M | $47K | — | View 990 |
| 2022 | $631K | $471K | $1.4M | $32K | — | View 990 |
| 2021 | $503K | $391K | $1.5M | $32K | — | View 990 |
| 2020 | $434K | $326K | $1.2M | $15K | — | View 990 |
| 2019 | $339K | $341K | $1.1M | $21K | — | View 990 |
| 2018 | $367K | $347K | $1.0M | $3K | — | View 990 |
| 2017 | $355K | $363K | $1.0M | $3K | — | — |
| 2016 | $280K | $267K | $999K | $13K | — | View 990 |
| 2015 | $307K | $515K | $989K | $8K | — | View 990 |
| 2014 | $566K | $236K | $1.2M | $7K | — | View 990 |
| 2013 | $125K | $182K | $835K | $7K | — | View 990 |
| 2012 | $158K | $161K | $850K | $6K | — | View 990 |
| 2011 | $162K | $190K | $850K | $30K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $841K, expenses of $487K, and assets of $1.8M (revenue +33.3% year-over-year).
- 2022: Revenue of $631K, expenses of $471K, and assets of $1.4M (revenue +25.5% year-over-year).
- 2021: Revenue of $503K, expenses of $391K, and assets of $1.5M (revenue +15.7% year-over-year).
- 2020: Revenue of $434K, expenses of $326K, and assets of $1.2M (revenue +28.1% year-over-year).
- 2019: Revenue of $339K, expenses of $341K, and assets of $1.1M (revenue -7.6% year-over-year).
- 2018: Revenue of $367K, expenses of $347K, and assets of $1.0M (revenue +3.5% year-over-year).
- 2017: Revenue of $355K, expenses of $363K, and assets of $1.0M (revenue +26.7% year-over-year).
- 2016: Revenue of $280K, expenses of $267K, and assets of $999K (revenue -8.9% year-over-year).
- 2015: Revenue of $307K, expenses of $515K, and assets of $989K (revenue -45.7% year-over-year).
- 2014: Revenue of $566K, expenses of $236K, and assets of $1.2M (revenue +353.8% year-over-year).
- 2013: Revenue of $125K, expenses of $182K, and assets of $835K (revenue -21.2% year-over-year).
- 2012: Revenue of $158K, expenses of $161K, and assets of $850K (revenue -2.2% year-over-year).
- 2011: Revenue of $162K, expenses of $190K, and assets of $850K.
Data Sources and Methodology
This transparency report for Island Heritage Trust Inc 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.