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Isles Properties INC

Not tax-deductible

Trenton, NJMutual-benefit / member-servingCommunity DevelopmentEIN 55-0799217

Isles properties is the holding company for several properties that are used for isles, INC.'s community real estate development.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $140K a year · 195% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.3M
197% of total assets
Concern: liabilities are 197% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 2 voting members
Looks good: 2 of 2 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$65K
-6% vs prior year
Spent
$224K
To programs
100%
Net assets
−$1.6M
By yearFY2020–FY2024
Revenue
$65K
FY2024▼ -6%
Revenue by fiscal year
FY2020$50K
FY2021$116K
FY2022$58K
FY2023$69K
FY2024$65K
Expenses
$224K
FY2024▲ +3%
Expenses by fiscal year
FY2020$201K
FY2021$223K
FY2022$193K
FY2023$218K
FY2024$224K
Net assets
−$1.6M
FY2024▼ -10%
Net assets by fiscal year
FY2020−$1.1M
FY2021−$1.2M
FY2022−$1.3M
FY2023−$1.5M
FY2024−$1.6M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2004.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $224K

Form 990 Part IX, line 25. Every line is in By the numbers.

Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Sean Jackson
Chief Executive Officer/Ex
$0Pt VII · Sec A
John Hart
COO and Secretary (end. 2024)
$0Pt VII · Sec A
Laura Fenster Rothschild
Managing Director
$0Pt VII · Sec A
Martin Johnson
Founder/ Advisor
$0Pt VII · Sec A
Michael Nordquist
Managing Director
$0Pt VII · Sec A
Peter Rose
Managing Director
$0Pt VII · Sec A
See Isles Properties INC executive salaries →

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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 15aYes

Programs and updates

Develops community real estate using its owned properties.

Provided by the organization

This section is blank until Isles Properties INC claims this page.

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1 program service account for $224K of program spending, described in the organization's own filed words · FY2024.
01

Holding company for several real estate properties that are used for isles, inc's tax exempt purpose.

$224Kprogram expense

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$65K
Ln 12
Fees for servicesLn 2g$65K
Money outPt IX
$224K
Ln 25
Programscol B$224K
Owns and owesPt X
−$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$92K
Total assetsLn 16$1.7M
LiabilitiesLn 26$3.3M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$65K
Total revenueLn 12$65K
Assets in detailPt X, end of year
CashLn 1$92K
Cash and savings togetherLn 1–2$92K
Land, buildings, equipmentLn 10c$1.5M
Other assetsLn 15$90K
Total assetsLn 16$1.7M
LiabilitiesLn 26$3.3M
Net assetsLn 32−$1.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$16K$92K
Land, buildings, equipmentLn 10c$1.7M$1.5M
Total assetsLn 16$1.8M$1.7M
LiabilitiesLn 26$3.3M$3.3M
Net assetsLn 32−$1.5M−$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$8K$8K
Pension plan contributionsLn 8$1K$1K
Other employee benefitsLn 9$5K$5K
Payroll taxesLn 10$4K$4K
Other fees for servicesLn 11g$5K$5K
Office expensesLn 13$3K$3K
Information technologyLn 14$3K$3K
OccupancyLn 16$37K$37K
TravelLn 17$13K$13K
InterestLn 20$4K$4K
Depreciation, depletion and amortizationLn 22$126K$126K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$5K$5K
Total functional expensesLn 25$224K$224K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $65K$224K−$159K−$1.6M 990 PDF
FY2023 $69K$218K−$149K−$1.5M 990 PDF
FY2022 $58K$193K−$135K−$1.3M 990 PDF
FY2021 $116K$223K−$107K−$1.2M 990 PDF
FY2020 $50K$201K−$151K−$1.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $65,245 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $65,245$65,245
VIII-12 Total revenueRelated to mission $65,245 · Unrelated business $0 · Excluded from tax $0$65,245
Part IX · Statement of functional expenses $224,099 across 13 lines filed
IX-7 Other salaries and wagesPrograms $8,115$8,115
IX-8 Pension plan contributionsPrograms $1,054$1,054
IX-9 Other employee benefitsPrograms $4,605$4,605
IX-10 Payroll taxesPrograms $4,281$4,281
IX-11g Other fees for servicesPrograms $4,912$4,912
IX-13 Office expensesPrograms $3,388$3,388
IX-14 Information technologyPrograms $3,325$3,325
IX-16 OccupancyPrograms $36,614$36,614
IX-17 TravelPrograms $12,560$12,560
IX-20 InterestPrograms $3,609$3,609
IX-22 Depreciation, depletion and amortizationPrograms $125,843$125,843
IX-23 InsurancePrograms $10,382$10,382
IX-24 Other expenses (24a–d)Programs $5,411$5,411
IX-25 Total functional expensesPrograms $224,099 · Management $0 · Fundraising $0$224,099
Part X · Balance sheet $1,696,746 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $16,116$91,973
X-4 Accounts receivableStart of year $41,478$2,325
X-10c Land, buildings and equipment, netStart of year $1,696,010$1,512,448
X-15 Other assetsStart of year $90,000$90,000
X-16 Total assetsStart of year $1,843,604$1,696,746
X-17 Accounts payable and accrued expensesStart of year $1,324,196$1,400,119
X-25 Other liabilitiesStart of year $1,908,799$1,772,565
X-26 Total liabilitiesStart of year $3,334,153$3,340,149
X-27 Net assets without donor restrictionsStart of year −$1,490,549−$1,643,403
X-32 Total net assets or fund balancesStart of year −$1,490,549−$1,643,403
X-33 Total liabilities and net assetsStart of year $1,843,604$1,696,746
Part XI · Reconciliation of net assets −$1,643,403 net assets at year end
XI-1 Total revenue$65,245
XI-2 Total expenses$224,099
XI-3 Revenue less expenses−$158,854
XI-4 Net assets at start of year−$1,490,549
XI-6 Donated services and use of facilities$6,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,643,403

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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