Island Housing Trust Corporation
Island Housing Trust Corporation shows consistent asset growth and zero officer compensation over a decade.
EIN: 20549245 · West Tisbury, MA · NTEE: L21 · Updated: 2026-03-28
Is Island Housing Trust Corporation 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 Corporation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Island Housing Trust Corporation
Island Housing Trust Corporation (EIN: 20549245) is a nonprofit organization based in West Tisbury, MA, classified under NTEE code L21. The organization reported total revenue of $11.3M and total assets of $46.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Island Housing Trust Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Island Housing Trust Corporation is a large nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 26.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.8M |
| Total Expenses | $4.4M |
| Surplus / Deficit | +$1.4M |
| Total Assets | $40.0M |
| Total Liabilities | $14.3M |
| Net Assets | $25.6M |
| Operating Margin | 24.3% |
| Debt-to-Asset Ratio | 35.8% |
| Months of Reserves | 109.4 months |
Financial Health Grade: A
In 2023, Island Housing Trust Corporation reported a surplus of $1.4M with revenue exceeding expenses, holds 109.4 months of operating reserves (strong position), has a debt-to-asset ratio of 35.8% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Island Housing Trust Corporation's revenue has grown at a compound annual growth rate (CAGR) of 26.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.7% | +43.3% | +9.3% |
| 2022 | +1.9% | +11.7% | +21.7% |
| 2021 | +18.0% | +23.5% | +23.1% |
| 2020 | +82.2% | +55.3% | +9.5% |
| 2019 | +2.1% | +12.7% | +14.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Housing Trust Corporation with a Mission Score of 95 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Island Housing Trust Corporation allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 $1.4M, with revenue exceeding expenses.
- Debt-to-asset ratio: 35.8%.
Executive Compensation Analysis
Island Housing Trust Corporation consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly unusual and suggests a volunteer-led executive team or that compensation is reported under other expense categories, though the former is more likely given the consistent reporting.
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 Corporation's IRS 990 filings:
- Unusually low reported administrative and fundraising expenses, potentially indicating these costs are embedded within program expenses or not fully disclosed, though the zero officer compensation suggests a highly lean operational model.
Strengths
The following positive indicators were identified for Island Housing Trust Corporation:
- Consistent asset growth, from $5,665,203 in 2014 to $39,963,181 in 2023, demonstrating strong financial management and capacity building.
- Zero reported officer compensation across all filings, indicating a high degree of financial transparency and dedication to mission-focused spending.
- Healthy financial reserves, with assets significantly exceeding liabilities, providing stability and capacity for future projects.
- Strong program focus, implied by the substantial asset accumulation and the nature of its NTEE code (Housing Development), suggesting resources are directly applied to its mission.
- Significant revenue growth over the past decade, reflecting successful fundraising and community support.
Frequently Asked Questions about Island Housing Trust Corporation
Is Island Housing Trust Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Island Housing Trust Corporation (EIN: 20549245) some concerns. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.
How does Island Housing Trust Corporation spend its money?
Island Housing Trust Corporation directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Island Housing Trust Corporation tax-deductible?
Island Housing Trust Corporation is registered as a tax-exempt nonprofit (EIN: 20549245). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Island Housing Trust Corporation a good charity?
Based on its financial data, Island Housing Trust Corporation appears to be a very good charity. It demonstrates strong financial health, consistent asset growth, and a remarkable commitment to directing all reported funds away from executive compensation and towards its mission.
How does Island Housing Trust Corporation manage its liabilities?
The organization maintains a healthy liability-to-asset ratio. For example, in 2023, liabilities were $14,320,969 against assets of $39,963,181, indicating that a significant portion of its assets are unencumbered and it manages its debt responsibly.
What is the trend in Island Housing Trust Corporation's revenue and expenses?
Island Housing Trust Corporation has shown a strong upward trend in both revenue and expenses over the past decade, with revenue growing from $1,819,110 in 2014 to $5,790,854 in 2023, and expenses increasing proportionally, indicating expanding operations and impact.
Filing History
IRS 990 filing history for Island Housing Trust Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Island Housing Trust Corporation's revenue has grown by 1597.2%, moving from $341K to $5.8M. Total assets increased by 2413.2% over the same period, from $1.6M to $40.0M. Total functional expenses rose by 2441.9%, from $172K to $4.4M. In its most recent filing year (2023), Island Housing Trust Corporation reported a surplus of $1.4M, with revenue exceeding expenses. The organization holds $14.3M in liabilities against $40.0M in assets (debt-to-asset ratio: 35.8%), resulting in net assets of $25.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.8M | $4.4M | $40.0M | $14.3M | — | View 990 |
| 2022 | $5.9M | $3.1M | $36.6M | $12.4M | — | View 990 |
| 2021 | $5.8M | $2.7M | $30.0M | $8.7M | — | View 990 |
| 2020 | $4.9M | $2.2M | $24.4M | $6.1M | — | View 990 |
| 2019 | $2.7M | $1.4M | $22.3M | $6.7M | — | View 990 |
| 2018 | $2.6M | $1.3M | $19.5M | $5.1M | — | View 990 |
| 2017 | $2.9M | $910K | $14.6M | $2.3M | — | View 990 |
| 2016 | $4.4M | $734K | $11.9M | $2.5M | — | View 990 |
| 2015 | $1.9M | $566K | $7.2M | $1.4M | — | View 990 |
| 2014 | $1.8M | $480K | $5.7M | $1.2M | — | View 990 |
| 2013 | $1.6M | $1.4M | $3.4M | $242K | — | View 990 |
| 2012 | $2.9M | $1.3M | $3.2M | $329K | — | View 990 |
| 2011 | $341K | $172K | $1.6M | $249K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.8M, expenses of $4.4M, and assets of $40.0M (revenue -1.7% year-over-year).
- 2022: Revenue of $5.9M, expenses of $3.1M, and assets of $36.6M (revenue +1.9% year-over-year).
- 2021: Revenue of $5.8M, expenses of $2.7M, and assets of $30.0M (revenue +18.0% year-over-year).
- 2020: Revenue of $4.9M, expenses of $2.2M, and assets of $24.4M (revenue +82.2% year-over-year).
- 2019: Revenue of $2.7M, expenses of $1.4M, and assets of $22.3M (revenue +2.1% year-over-year).
- 2018: Revenue of $2.6M, expenses of $1.3M, and assets of $19.5M (revenue -9.1% year-over-year).
- 2017: Revenue of $2.9M, expenses of $910K, and assets of $14.6M (revenue -34.4% year-over-year).
- 2016: Revenue of $4.4M, expenses of $734K, and assets of $11.9M (revenue +133.9% year-over-year).
- 2015: Revenue of $1.9M, expenses of $566K, and assets of $7.2M (revenue +3.9% year-over-year).
- 2014: Revenue of $1.8M, expenses of $480K, and assets of $5.7M (revenue +11.1% year-over-year).
- 2013: Revenue of $1.6M, expenses of $1.4M, and assets of $3.4M (revenue -42.8% year-over-year).
- 2012: Revenue of $2.9M, expenses of $1.3M, and assets of $3.2M (revenue +739.1% year-over-year).
- 2011: Revenue of $341K, expenses of $172K, and assets of $1.6M.
Data Sources and Methodology
This transparency report for Island Housing Trust Corporation 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.