Island Workforce Housing FY2021 filing

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Create housing solutions in Deer Isle and Stonington that are permanently affordable to individuals and families working in these communities.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
5 of 5
filings with a surplus
Average surplus $392K a year · 84% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
966 mo
of spending, in cash
Looks good: 966.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $396K
Looks good: 10 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$671K
-9% vs prior year
Spent
$14K
To programs
99%
Net assets
$1.5M
By yearFY2020–FY2024
Revenue
$671K
FY2021▼ -9%
Tap a bar for its year
Revenue by fiscal year
FY2020$740K
FY2021$671K
FY2022$198K
FY2023$186K
FY2024$537K
Expenses
$14K
FY2021▲ +77%
Tap a bar for its year
Expenses by fiscal year
FY2020$8K
FY2021$14K
FY2022$29K
FY2023$115K
FY2024$205K
Net assets
$1.5M
FY2021▲ +81%
Tap a bar for its year
Net assets by fiscal year
FY2020$806K
FY2021$1.5M
FY2022$1.7M
FY2023$1.7M
FY2024$2.1M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2019.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $14K Fundraising 1% · $153

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

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Island Workforce Housing executive salaries →

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

Builds affordable housing for local workers in Deer Isle and Stonington.

Questions for Island Workforce Housing

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1 program · $14K · in their own filed words · FY2021
01

Create housing solutions in Deer Isle and Stonington that are permanently affordable to individuals and families working in these communities.

$14Kprogram 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 · FY2024
See all 10 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$671K
Ln 12
Gifts and grantsLn 1h$670K
Investment incomeLn 3$464
Money outPt IX
$14K
Ln 25
Programscol B$14K
Fundraisingcol D$153
Owns and owesPt X
$1.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$1.5M
LiabilitiesLn 26$0
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$670K
Investment incomeLn 3$464
Total revenueLn 12$671K
Assets in detailPt X, end of year
CashLn 1$1.1M
Cash and savings togetherLn 1–2$1.1M
Land, buildings, equipmentLn 10c$254K
Total assetsLn 16$1.5M
LiabilitiesLn 26$0
Net assetsLn 32$1.5M
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$587K$1.1M
Land, buildings, equipmentLn 10c$167K$254K
Total assetsLn 16$806K$1.5M
LiabilitiesLn 26$0$0
Net assetsLn 32$806K$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$723$723
Advertising and promotionLn 12$0
Office expensesLn 13$70$70
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$11K$11K
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$3K$3K$153
All other expensesLn 24e$0
Total functional expensesLn 25$14K$14K$0$153

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS May 13, 2025 $537K$205K$333K$2.1M 990 PDF
FY2023Filed with the IRS Jul 5, 2024 $186K$115K$71K$1.7M 990 PDF
FY2022Filed with the IRS May 15, 2023 $198K$29K$168K$1.7M 990 PDF
FY2021 ViewingFiled with the IRS May 12, 2022 $671K$14K$656K$1.5M 990 PDF
FY2020Filed with the IRS May 19, 2021 $740K$8K$732K$806K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $670,544 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $739,529$670,080
I-9 Program service revenue$0
I-10 Investment incomePrior year $414$464
I-11 Other revenue$0
I-12 Total revenuePrior year $739,943$670,544
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $8,005$14,195
I-18 Total expensesPrior year $8,005$14,195
I-19 Revenue less expensesPrior year $731,938$656,349
Part VI · Governance 12 of 12 board members independent, 3 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $670,544 across 4 lines filed
VIII-1f All other contributions, gifts and grants$670,080
VIII-1h Total contributions, gifts and grants$670,080
VIII-3 Investment income$464
VIII-12 Total revenue$670,544
Part IX · Statement of functional expenses $14,195 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $723$723
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $70$70
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $10,551$10,551
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $2,698 · Fundraising $153$2,851
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $14,042 · Management $0 · Fundraising $153$14,195
Part X · Balance sheet $1,462,258 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $587,299$1,142,729
X-10c Land, buildings and equipment, netStart of year $167,000$254,071
X-14 Intangible assetsStart of year $51,610$65,458
X-16 Total assetsStart of year $805,909$1,462,258
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $805,909$1,462,258
X-32 Total net assets or fund balancesStart of year $805,909$1,462,258
X-33 Total liabilities and net assetsStart of year $805,909$1,462,258
Part XI · Reconciliation of net assets $1,462,258 net assets at year end
XI-1 Total revenue$670,544
XI-2 Total expenses$14,195
XI-3 Revenue less expenses$656,349
XI-4 Net assets at start of year$805,909
XI-10 Net assets at end of year$1,462,258

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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