philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Treasure Island

IRS exemption revoked

Brooklyn, NYUnknown exempt organization EIN 11-2725055Revenue $1.1M in FY2019

On file with the IRS347 74th Street · Brooklyn, NY

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

To educate youngsters between ages 2-5 in a warm & safe environment by using toys, games, art, etc

97¢ of each $1 spent went to programs.
Run by 2 volunteers and 16 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2019 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2019
latest Form 990
Concern: the latest return is for FY2019, 7 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$14K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $54
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
Spent
$1.1M
To programs
97%
Net assets
$291K

From the FY2019 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2023

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $1.1M Management & general 3% · $33K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

4 people listed on the 990; $14K paid to officers and key staff.

Part VII, Section A · reportable compensation
$14,024Pt VII · Sec A
Marc Silberman
Vice President
$0Pt VII · Sec A
Mark Feldman
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Treasure Island executive salaries →

On this list? Claim this org

Something off? Claim to add context

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides early childhood education using play-based learning in a safe environment.

Questions for Treasure Island

Tap to ask. Treasure Island sees how many people are interested.

Your first name shows with your question. Treasure Island answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $1.1M · in their own filed words · FY2019
01

Child care services less cost of rent,utilities programm expenses

$1.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Amazonsmile FoundationFY2023$54
Total grants receivedfrom 1 funder$54

By the numbers

The FY2019 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.1M
Ln 12
Fees for servicesLn 2g$1.1M
Money outPt IX
$1.1M
Ln 25
Programscol B$1.1M
Managementcol C$33K
Owns and owesPt X
$291K
net assets · Ln 32
Cash and savingsLn 1–2$297K
Total assetsLn 16$297K
LiabilitiesLn 26$6K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.1M
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$297K
Cash and savings togetherLn 1–2$297K
Total assetsLn 16$297K
LiabilitiesLn 26$6K
Net assetsLn 32$291K
OperationsPt I, VI
EmployeesI 516
VolunteersI 62
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY19End FY19
Cash and savingsLn 1–2$313K$297K
Total assetsLn 16$313K$297K
LiabilitiesLn 26$0$6K
Net assetsLn 32$313K$291K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$109K$109K
Pay of current officers, directors and key staffLn 5$49K$49K$0$0
Pay of disqualified personsLn 6$602K$602K$0$0
Payroll taxesLn 10$46K$46K$0$0
Accounting feesLn 11c$5K$5K$0$0
Advertising and promotionLn 12$6K$6K$0$0
Office expensesLn 13$30K$0$30K$0
OccupancyLn 16$137K$137K$0$0
InsuranceLn 23$24K$24K$0$0
Other expenses (24a–d)Ln 24$78K$74K$3K$0
All other expensesLn 24e$9K$9K$0$0
Total functional expensesLn 25$1.1M$1.1M$33K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2019 Latest Viewing $1.1M$1.1M−$22K$291K 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2019 990 (6 parts)
Part I · Summary $1,071,563 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $1,067,189$1,071,563
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $1,067,189$1,071,563
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $79,915$108,786
I-15 Salaries and benefitsPrior year $647,502$696,718
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $283,506$288,045
I-18 Total expensesPrior year $1,010,923$1,093,549
I-19 Revenue less expensesPrior year $56,266−$21,986
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,071,563 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$1,071,563
VIII-12 Total revenueRelated to mission $1,071,563 · Unrelated business $0 · Excluded from tax $0$1,071,563
Part IX · Statement of functional expenses $1,093,549 across 11 lines filed
IX-4 Benefits paid to or for membersPrograms $108,786$108,786
IX-5 Pay of current officers, directors and key staffPrograms $48,781 · Management $0 · Fundraising $0$48,781
IX-6 Pay of disqualified personsPrograms $601,690 · Management $0 · Fundraising $0$601,690
IX-10 Payroll taxesPrograms $46,247 · Management $0 · Fundraising $0$46,247
IX-11c Accounting feesPrograms $4,854 · Management $0 · Fundraising $0$4,854
IX-12 Advertising and promotionPrograms $6,217 · Management $0 · Fundraising $0$6,217
IX-13 Office expensesPrograms $0 · Management $29,690 · Fundraising $0$29,690
IX-16 OccupancyPrograms $136,821 · Management $0 · Fundraising $0$136,821
IX-23 InsurancePrograms $24,022 · Management $0 · Fundraising $0$24,022
IX-24 Other expenses (24a–d)Programs $74,417 · Management $3,396 · Fundraising $0$77,813
IX-24e All other expensesPrograms $8,628 · Management $0 · Fundraising $0$8,628
IX-25 Total functional expensesPrograms $1,060,463 · Management $33,086 · Fundraising $0$1,093,549
Part X · Balance sheet $296,939 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $313,416$296,939
X-16 Total assetsStart of year $313,416$296,939
X-17 Accounts payable and accrued expenses$5,509
X-26 Total liabilitiesStart of year $0$5,509
X-27 Net assets without donor restrictionsStart of year $313,416$291,430
X-32 Total net assets or fund balancesStart of year $313,416$291,430
X-33 Total liabilities and net assetsStart of year $313,416$296,939
Part XI · Reconciliation of net assets $291,430 net assets at year end
XI-1 Total revenue$1,071,563
XI-2 Total expenses$1,093,549
XI-3 Revenue less expenses−$21,986
XI-4 Net assets at start of year$313,416
XI-10 Net assets at end of year$291,430

Form 990 e-file (XML) FY2019 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.