Island Foundation Inc
- Assets
- $55.4m
- Revenue
- $2.1m
- Investments
- $54.9m
- Employees
- 0
- Location
- Marion, MA
- Founding
- 08/1980
- Data as of
- 12/2023
- EIN
- 04-2670567
Organization Overview
Island Foundation Inc is located in Marion, MA. The organization was established in 1980. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Island Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Island Foundation Inc generated $2.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $3.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Island Foundation Inc has awarded 734 individual grants totaling $9,935,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S PRIORITIES FALL WITHIN FOUR MAJOR CATEGORIES - ENVIRONMENT, NEW BEDFORD, ALTERNATIVE EDUCATION AND WOMEN & GIRLS. IN EXCESS OF 150 CHARITABLE ORGANIZATIONS RECEIVED GRANTS IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Porche Asst Clerk/exec Director | 40 | $148,063 | |
Hannah Nesbeda President | 5 | $0 | |
Alan Tupper Treasurer | 5 | $0 | |
Matt Kressly Director | 5 | $0 | |
Christopher Moore Director | 5 | $0 | |
Hannah Moore Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $143,231 |
| Dividends & Interest | $1,136,326 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $839,976 |
| Capital Gain Net Income | $839,976 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,119,533 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $148,063 |
| Other employee salaries and wages | $193,568 |
| Pension plans, employee benefits | $168,493 |
| Interest | $0 |
| Taxes | $519 |
| Depreciation | $6,911 |
| Occupancy | $9,143 |
| Travel, conferences, and meetings | $17,160 |
| Printing and publications | $0 |
| Other expenses | $48,271 |
| Total operating and administrative expenses | $655,035 |
| Contributions, gifts, grants paid | $2,524,000 |
| Total expenses and disbursements | $3,179,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,968 |
| Savings and temporary cash investments | $330,436 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,175 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $120,125 |
| Other assets | $2,075 |
| Total assets | $55,360,223 |
| Accounts payable and accrued expenses | $51,245 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $69,625 |
| Total liabilities | $120,870 |
Grants Awarded
Over the last fiscal year, Island Foundation Inc has awarded $2,524,000 in support to 183 organizations.
| Grant Recipient | Amount |
|---|---|
HUMANE SOCIETY & SHELTER SOUTHCOAST PURPOSE: GENERAL SUPPORT | $2,000 |
THE GREATER BOSTON FOOD BANK PURPOSE: GENERAL SUPPORT | $640 |
SAVE THE BAY INC PURPOSE: GENERAL SUPPORT | $1,000 |
GOOD NEIGHBORS INC PURPOSE: GENERAL SUPPORT | $1,000 |
EMERSON COLLEGE PURPOSE: FOR WERS | $1,000 |
RUFF RESIDENTS UNITED FOR FURRY FRIENDS PURPOSE: GENERAL SUPPORT | $1,600 |