Island Housing Trust
Island Housing Trust: Strong Mission, Prudent Spending, but Limited Transparency
EIN: 222993615 · Mount Desert, ME · NTEE: L20Z · Updated: 2026-04-04
Is Island Housing Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Island Housing Trust directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Island Housing Trust
Island Housing Trust (EIN: 222993615) is a nonprofit organization based in Mount Desert, ME, classified under NTEE code L20Z. The organization reported total revenue of $2.5M and total assets of $7.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Island Housing Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Island Housing Trust with a Mission Score of 85 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: 80%
- fundraising: 10%
According to IRS 990 filings, Island Housing Trust allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is not reported on the available 990 filings, suggesting it falls below the reporting threshold or is not applicable, which is a positive indicator for a smaller nonprofit.
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 Island Housing Trust's IRS 990 filings:
- Lack of detailed program expense breakdown on public filings and website.
Strengths
The following positive indicators were identified for Island Housing Trust:
- Consistent revenue growth over several years, indicating strong donor support.
- Healthy asset growth from $426,267 in 2016 to $7,589,316 in 2023, demonstrating effective asset management.
- Low liabilities relative to assets, indicating financial stability.
Frequently Asked Questions about Island Housing Trust
Is Island Housing Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, Island Housing Trust (EIN: 222993615) some concerns. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
How does Island Housing Trust spend its money?
Island Housing Trust directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Island Housing Trust tax-deductible?
Island Housing Trust is registered as a tax-exempt nonprofit (EIN: 222993615). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Island Housing Trust do?
Island Housing Trust is a nonprofit organization in the Housing & Shelter sector, located in Mount Desert, Maine. It is classified under NTEE code L20Z.
How much revenue does Island Housing Trust have?
Island Housing Trust reported total revenue of $2,485,582. Based on 13 IRS 990 filings on record.
What are Island Housing Trust's total assets?
Island Housing Trust holds total assets of $7,589,316 as reported in IRS 990 filings.
Where is Island Housing Trust located?
Island Housing Trust is based in Mount Desert, Maine.
What is Island Housing Trust's EIN?
Island Housing Trust's Employer Identification Number (EIN) is 222993615. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Island Housing Trust?
Island Housing Trust is classified under NTEE code L20Z (Housing & Shelter).
Is Island Housing Trust a registered 501(c)(3)?
Yes, Island Housing Trust is recognized as a tax-exempt organization by the IRS. EIN: 222993615.
Does Island Housing Trust file IRS Form 990?
Yes, Island Housing Trust has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Island Housing Trust's revenue in 2023?
In the 202312 filing period, Island Housing Trust reported total revenue of $1,040,659, total expenses of $511,794, and net assets of $5,330,740.
Is Island Housing Trust's revenue growing or declining?
Island Housing Trust's revenue is growing. Revenue went from $591,049 (202212) to $1,040,659 (202312), a +76.1% change. Based on 13 filings on record.
What is Island Housing Trust's most recent 990 filing?
The most recent IRS Form 990 filing for Island Housing Trust covers tax period 202312. It shows revenue of $1,040,659, expenses of $511,794, total assets of $5,330,740, and liabilities of $15,540.
How much does Island Housing Trust spend on programs vs administration?
Based on IRS 990 analysis, Island Housing Trust allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Island Housing Trust a trustworthy charity?
Based on AI analysis of IRS 990 data, Island Housing Trust appears trustworthy. Mission Score: 85/100 (Excellent). 1 red flag identified. 3 strengths noted.
What are the red flags for Island Housing Trust?
The following concerns were identified: Lack of detailed program expense breakdown on public filings and website.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Island Housing Trust's strengths?
Positive indicators for Island Housing Trust include: Consistent revenue growth over several years, indicating strong donor support.. Healthy asset growth from $426,267 in 2016 to $7,589,316 in 2023, demonstrating effective asset management.. Low liabilities relative to assets, indicating financial stability.. These findings are derived from AI analysis of the organization's financial filings.
How does Island Housing Trust compensate executives?
Executive compensation is not reported on the available 990 filings, suggesting it falls below the reporting threshold or is not applicable, which is a positive indicator for a smaller nonprofit. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Island Housing Trust?
• The organization's website lacks a dedicated transparency report or easy access to financial documents beyond the 990s. • Detailed breakdowns of program expenses are not readily available, making it difficult to assess specific impact areas. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How does Island Housing Trust plan to scale its impact given the significant increase in assets and revenue?
With assets growing from $4.6M in 2021 to $7.5M in 2023 and revenue reaching $2.4M in 2023, the organization has a strong financial foundation to expand its housing initiatives. A clear strategy for leveraging these resources for greater community impact would be beneficial.
What specific programs or initiatives contributed to the substantial revenue increase in 2021 and 2023?
Revenue jumped from $1.2M in 2020 to $2.7M in 2021 and again from $591K in 2022 to $2.4M in 2023. Understanding the specific fundraising campaigns, grants, or major donations that drove these spikes would provide insight into their development strategies.
Filing History
IRS 990 filing history for Island Housing Trust showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Island Housing Trust's revenue has grown by 230.4%, moving from $315K to $1.0M. Total assets increased by 998.1% over the same period, from $485K to $5.3M. Total functional expenses rose by 44%, from $355K to $512K. In its most recent filing year (2023), Island Housing Trust reported a surplus of $529K, with revenue exceeding expenses. The organization holds $16K in liabilities against $5.3M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $5.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $1.0M | $512K | $5.3M | $16K | — | View 990 |
| 2022 | $591K | $499K | $4.8M | $48K | — | — |
| 2021 | $2.7M | $476K | $4.7M | $12K | — | View 990 |
| 2020 | $1.2M | $405K | $2.4M | $30K | — | View 990 |
| 2019 | $367K | $232K | $1.6M | $15K | — | View 990 |
| 2018 | $908K | $173K | $2.0M | $515K | — | View 990 |
| 2017 | $474K | $170K | $970K | $240K | — | View 990 |
| 2016 | $281K | $260K | $426K | $3K | — | View 990 |
| 2015 | $266K | $263K | $409K | $6K | — | View 990 |
| 2014 | $264K | $362K | $400K | $164 | — | View 990 |
| 2013 | $304K | $251K | $496K | $2K | — | View 990 |
| 2012 | $204K | $190K | $444K | $2K | — | View 990 |
| 2011 | $315K | $355K | $485K | $58K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.0M, expenses of $512K, and assets of $5.3M (revenue +76.1% year-over-year).
- 2022: Revenue of $591K, expenses of $499K, and assets of $4.8M (revenue -78.3% year-over-year).
- 2021: Revenue of $2.7M, expenses of $476K, and assets of $4.7M (revenue +122.5% year-over-year).
- 2020: Revenue of $1.2M, expenses of $405K, and assets of $2.4M (revenue +234.0% year-over-year).
- 2019: Revenue of $367K, expenses of $232K, and assets of $1.6M (revenue -59.6% year-over-year).
- 2018: Revenue of $908K, expenses of $173K, and assets of $2.0M (revenue +91.3% year-over-year).
- 2017: Revenue of $474K, expenses of $170K, and assets of $970K (revenue +69.1% year-over-year).
- 2016: Revenue of $281K, expenses of $260K, and assets of $426K (revenue +5.4% year-over-year).
- 2015: Revenue of $266K, expenses of $263K, and assets of $409K (revenue +0.6% year-over-year).
- 2014: Revenue of $264K, expenses of $362K, and assets of $400K (revenue -13.0% year-over-year).
- 2013: Revenue of $304K, expenses of $251K, and assets of $496K (revenue +49.1% year-over-year).
- 2012: Revenue of $204K, expenses of $190K, and assets of $444K (revenue -35.3% year-over-year).
- 2011: Revenue of $315K, expenses of $355K, and assets of $485K.
Data Sources and Methodology
This transparency report for Island Housing Trust 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.