Island Workforce Housing
EIN: 833534060 · Deer Isle, ME · NTEE: L80
Is Island Workforce Housing Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Island Workforce Housing
Island Workforce Housing (EIN: 833534060) is a nonprofit organization based in Deer Isle, ME, classified under NTEE code L80. The organization reported total revenue of $611K and total assets of $3.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Island Workforce Housing's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Island Workforce Housing is a small nonprofit that has been operating for 7 years, with 5 years of IRS 990 filings on record (2019–2023). Revenue has grown at a compound annual rate of 19.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $186K |
| Total Expenses | $115K |
| Surplus / Deficit | +$71K |
| Total Assets | $2.6M |
| Total Liabilities | $920K |
| Net Assets | $1.7M |
| Operating Margin | 38.1% |
| Debt-to-Asset Ratio | 34.7% |
| Months of Reserves | 276.9 months |
Financial Health Grade: A
In 2023, Island Workforce Housing reported a surplus of $71K with revenue exceeding expenses, holds 276.9 months of operating reserves (strong position), has a debt-to-asset ratio of 34.7% (moderate leverage).
Financial Trends
Over 5 years of filings (2019–2023), Island Workforce Housing's revenue has grown at a compound annual growth rate (CAGR) of 19.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -6.1% | +292.2% | +57.0% |
| 2022 | -70.5% | +106.3% | +15.4% |
| 2021 | -9.4% | +77.3% | +81.4% |
| 2020 | +721.6% | -50.2% | +989.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2019 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Island Workforce Housing has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Island Workforce Housing with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $71K, with revenue exceeding expenses.
- Debt-to-asset ratio: 34.7%.
Frequently Asked Questions about Island Workforce Housing
Is Island Workforce Housing a legitimate charity?
Based on AI analysis of IRS 990 filings, Island Workforce Housing (EIN: 833534060) insufficient data. 0 red flags identified, 0 strengths noted.
How does Island Workforce Housing spend its money?
Detailed spending breakdown data is not yet available for Island Workforce Housing. Check back for updated IRS 990 analysis.
Are donations to Island Workforce Housing tax-deductible?
Island Workforce Housing is registered as a tax-exempt nonprofit (EIN: 833534060). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Island Workforce Housing showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2019–2023), Island Workforce Housing's revenue has grown by 106.1%, moving from $90K to $186K. Total assets increased by 3482.4% over the same period, from $74K to $2.6M. Total functional expenses rose by 613.9%, from $16K to $115K. In its most recent filing year (2023), Island Workforce Housing reported a surplus of $71K, with revenue exceeding expenses. The organization holds $920K in liabilities against $2.6M in assets (debt-to-asset ratio: 34.7%), resulting in net assets of $1.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $186K | $115K | $2.6M | $920K | — | View 990 |
| 2022 | $198K | $29K | $1.7M | $28K | — | — |
| 2021 | $671K | $14K | $1.5M | $0 | — | View 990 |
| 2020 | $740K | $8K | $806K | $0 | — | View 990 |
| 2019 | $90K | $16K | $74K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $186K, expenses of $115K, and assets of $2.6M (revenue -6.1% year-over-year).
- 2022: Revenue of $198K, expenses of $29K, and assets of $1.7M (revenue -70.5% year-over-year).
- 2021: Revenue of $671K, expenses of $14K, and assets of $1.5M (revenue -9.4% year-over-year).
- 2020: Revenue of $740K, expenses of $8K, and assets of $806K (revenue +721.6% year-over-year).
- 2019: Revenue of $90K, expenses of $16K, and assets of $74K.
Data Sources and Methodology
This transparency report for Island Workforce Housing 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.