Island Pantry Inc
Island Pantry Inc: Declining Revenue, Strong Asset Growth, and High Administrative Costs Raise Questions
EIN: 223082960 · Deer Isle, ME · NTEE: W99Z · Updated: 2026-04-04
Is Island Pantry Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Island Pantry Inc directs 60% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Island Pantry Inc
Island Pantry Inc (EIN: 223082960) is a nonprofit organization based in Deer Isle, ME, classified under NTEE code W99Z. The organization reported total revenue of $85K and total assets of $580K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Island Pantry Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Island Pantry Inc is a micro nonprofit that has been operating for 35 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $90K |
| Total Expenses | $69K |
| Surplus / Deficit | +$21K |
| Total Assets | $560K |
| Net Assets | $560K |
| Operating Margin | 23.7% |
| Months of Reserves | 97.4 months |
Financial Health Grade: A
In 2023, Island Pantry Inc reported a surplus of $21K with revenue exceeding expenses, holds 97.4 months of operating reserves (strong position).
Financial Trends
Over 12 years of filings (2011–2023), Island Pantry Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.5% | +124.5% | +9.7% |
| 2022 | -49.7% | -36.9% | +4.9% |
| 2021 | +64.1% | -9.3% | +42.6% |
| 2020 | +77.6% | -29.1% | +23.4% |
| 2019 | -17.2% | -12.7% | -3.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
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 Pantry Inc with a Mission Score of 75 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: 30%
- programs: 60%
- fundraising: 10%
According to IRS 990 filings, Island Pantry Inc allocates its expenses as follows: admin: 30%, programs: 60%, fundraising: 10%. Approximately 60% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $21K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is not reported in the provided filings, suggesting it is below the $100,000 threshold for individual 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 Pantry Inc's IRS 990 filings:
- Revenue has significantly declined from $194,285 in 2021 to $85,200 in 2023.
- Administrative expenses consistently represent a substantial portion of total expenses, e.g., $69,004 out of $90,441 total expenses in 2023.
- Total expenses ($90,441 in 2023) exceed revenue ($85,200 in 2023), indicating reliance on prior year assets or other funding sources.
Strengths
The following positive indicators were identified for Island Pantry Inc:
- Assets have shown consistent growth, from $276,795 in 2019 to $580,218 in 2023.
- The organization maintains a strong asset base relative to its annual revenue and expenses.
Frequently Asked Questions about Island Pantry Inc
Is Island Pantry Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Island Pantry Inc (EIN: 223082960) some concerns. Mission Score: 75/100. 3 red flags identified, 2 strengths noted.
How does Island Pantry Inc spend its money?
Island Pantry Inc directs 60% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Island Pantry Inc tax-deductible?
Island Pantry Inc is registered as a tax-exempt nonprofit (EIN: 223082960). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Island Pantry Inc do?
Island Pantry Inc is a nonprofit organization in the Public & Society Benefit sector, located in Deer Isle, Maine. It is classified under NTEE code W99Z.
How much revenue does Island Pantry Inc have?
Island Pantry Inc reported total revenue of $85,200. Based on 12 IRS 990 filings on record.
What are Island Pantry Inc's total assets?
Island Pantry Inc holds total assets of $580,218 as reported in IRS 990 filings.
Where is Island Pantry Inc located?
Island Pantry Inc is based in Deer Isle, Maine.
What is Island Pantry Inc's EIN?
Island Pantry Inc's Employer Identification Number (EIN) is 223082960. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Island Pantry Inc?
Island Pantry Inc is classified under NTEE code W99Z (Public & Society Benefit).
Is Island Pantry Inc a registered 501(c)(3)?
Yes, Island Pantry Inc is recognized as a tax-exempt organization by the IRS. EIN: 223082960.
Does Island Pantry Inc file IRS Form 990?
Yes, Island Pantry Inc has 12 IRS Form 990 filings on record. The most recent covers tax period 202308.
What was Island Pantry Inc's revenue in 2023?
In the 202308 filing period, Island Pantry Inc reported total revenue of $90,441, total expenses of $69,004, and net assets of $560,174.
Is Island Pantry Inc's revenue growing or declining?
Island Pantry Inc's revenue is declining. Revenue went from $97,725 (202208) to $90,441 (202308), a -7.5% change. Based on 12 filings on record.
What is Island Pantry Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Island Pantry Inc covers tax period 202308. It shows revenue of $90,441, expenses of $69,004, total assets of $560,174, and liabilities of N/A.
How much does Island Pantry Inc spend on programs vs administration?
Based on IRS 990 analysis, Island Pantry Inc allocates approximately 60% of expenses to program services, 30% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is Island Pantry Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Island Pantry Inc appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 2 strengths noted.
What are the red flags for Island Pantry Inc?
The following concerns were identified: Revenue has significantly declined from $194,285 in 2021 to $85,200 in 2023.. Administrative expenses consistently represent a substantial portion of total expenses, e.g., $69,004 out of $90,441 total expenses in 2023.. Total expenses ($90,441 in 2023) exceed revenue ($85,200 in 2023), indicating reliance on prior year assets or other funding sources.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Island Pantry Inc's strengths?
Positive indicators for Island Pantry Inc include: Assets have shown consistent growth, from $276,795 in 2019 to $580,218 in 2023.. The organization maintains a strong asset base relative to its annual revenue and expenses.. These findings are derived from AI analysis of the organization's financial filings.
How does Island Pantry Inc compensate executives?
Executive compensation is not reported in the provided filings, suggesting it is below the $100,000 threshold for individual reporting. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the significant decline in revenue from $194,285 in 2021 to $85,200 in 2023, what strategies are being implemented to reverse this trend and ensure long-term financial sustainability?
The provided data does not detail specific strategies, but the consistent asset growth suggests a strong financial foundation that could support new initiatives or cover operational shortfalls during revenue dips.
With administrative expenses often exceeding program expenses (e.g., $69,004 admin vs. $21,437 program in 2023, assuming program is total expenses minus admin), how does Island Pantry Inc justify this allocation and what measures are in place to optimize operational efficiency?
The filings indicate a high proportion of administrative costs relative to total expenses. Without further context on the nature of their programs, it's difficult to fully assess, but this ratio could suggest a need for re-evaluation of spending priorities or a very lean program delivery model.
Filing History
IRS 990 filing history for Island Pantry Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Island Pantry Inc's revenue has declined by 25.7%, moving from $122K to $90K. Total assets increased by 180.1% over the same period, from $200K to $560K. Total functional expenses rose by 26%, from $55K to $69K. In its most recent filing year (2023), Island Pantry Inc reported a surplus of $21K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $90K | $69K | $560K | $0 | — | View 990 |
| 2022 | $98K | $31K | $511K | $0 | — | View 990 |
| 2021 | $194K | $49K | $487K | $0 | — | View 990 |
| 2020 | $118K | $54K | $341K | $0 | — | View 990 |
| 2019 | $67K | $76K | $277K | $0 | — | View 990 |
| 2018 | $80K | $87K | $286K | $0 | — | View 990 |
| 2017 | $92K | $86K | $292K | $0 | — | View 990 |
| 2016 | $62K | $66K | $286K | $0 | — | View 990 |
| 2015 | $84K | $84K | $289K | $0 | — | View 990 |
| 2013 | $95K | $56K | $251K | $0 | — | View 990 |
| 2012 | $72K | $59K | $213K | $0 | — | View 990 |
| 2011 | $122K | $55K | $200K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $90K, expenses of $69K, and assets of $560K (revenue -7.5% year-over-year).
- 2022: Revenue of $98K, expenses of $31K, and assets of $511K (revenue -49.7% year-over-year).
- 2021: Revenue of $194K, expenses of $49K, and assets of $487K (revenue +64.1% year-over-year).
- 2020: Revenue of $118K, expenses of $54K, and assets of $341K (revenue +77.6% year-over-year).
- 2019: Revenue of $67K, expenses of $76K, and assets of $277K (revenue -17.2% year-over-year).
- 2018: Revenue of $80K, expenses of $87K, and assets of $286K (revenue -12.6% year-over-year).
- 2017: Revenue of $92K, expenses of $86K, and assets of $292K (revenue +47.4% year-over-year).
- 2016: Revenue of $62K, expenses of $66K, and assets of $286K (revenue -25.9% year-over-year).
- 2015: Revenue of $84K, expenses of $84K, and assets of $289K (revenue -10.9% year-over-year).
- 2013: Revenue of $95K, expenses of $56K, and assets of $251K (revenue +32.0% year-over-year).
- 2012: Revenue of $72K, expenses of $59K, and assets of $213K (revenue -41.2% year-over-year).
- 2011: Revenue of $122K, expenses of $55K, and assets of $200K.
Data Sources and Methodology
This transparency report for Island Pantry 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.