Island Foundation Inc
- Assets
- $63.2m
- Revenue
- $4.1m
- Investments
- $61.4m
- Employees
- 0
- Location
- Marion, MA
- Founding
- 08/1980
- Data as of
- 12/2021
- 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 12/2021, Island Foundation Inc generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 33.4% each year . All expenses for the organization totaled $3.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Island Foundation Inc has awarded 538 individual grants totaling $7,379,000. 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
2021
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 125 CHARITABLE ORGANIZATIONS RECEIVED GRANTS IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Porche Asst Clerk/exec Director | 40 | $138,222 | |
Hannah Moore Director | 5 | $0 | |
Douglas Watson Director | 5 | $0 | |
Eleanor Evans Clerk | 0 | $0 | |
Katharine Clark Vice President | 5 | $0 | |
David Clark Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $23,567 |
| Dividends & Interest | $1,679,456 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,401,183 |
| Capital Gain Net Income | $2,401,183 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,104,206 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $138,222 |
| Other employee salaries and wages | $181,962 |
| Pension plans, employee benefits | $143,175 |
| Interest | $0 |
| Taxes | $121,059 |
| Depreciation | $9,131 |
| Occupancy | $8,403 |
| Travel, conferences, and meetings | $5,907 |
| Printing and publications | $0 |
| Other expenses | $43,697 |
| Total operating and administrative expenses | $705,435 |
| Contributions, gifts, grants paid | $2,499,000 |
| Total expenses and disbursements | $3,204,435 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,627,000 |
| 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 | $14,943 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $61,351,185 |
| Net Land, buildings, and equipment | $128,308 |
| Other assets | $30,351 |
| Total assets | $63,151,787 |
| Accounts payable and accrued expenses | $50,741 |
| Grants payable | $10,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $227,629 |
| Total liabilities | $288,370 |
Grants Awarded
Over the last fiscal year, Island Foundation Inc has awarded $2,499,000 in support to 188 organizations.
| Grant Recipient | Amount |
|---|---|
NEW ENGLAND AQUARIUM PURPOSE: ENVIRONMENT | $50,000 |
PARTNERS IN HEALTH PURPOSE: SPECIAL PROJECTS | $50,000 |
New Bedford, MA PURPOSE: NEW BEDFORD | $50,000 |
Plymouth, MA PURPOSE: SPECIAL PROJECTS | $48,000 |
Dorchester, MA PURPOSE: WOMXN AND GIRLS | $40,000 |
Arundel, ME PURPOSE: EDUCATION | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Eastern Bank Charitable Foundation Lynn, MA | $286,575,476 | $18,352,628 |
G Harold And Leila Mathers Charitable Foundation Rye Brook, NY | $96,045,942 | $16,941,265 |
Elms Foundation Providence, RI | $0 | -$22,907 |
Thomas L Kempner Jr Foundation Inc Southampton, NY | $328,355,645 | $44,754,721 |