Overview
What is Island Institute?
The Island Institute is a nonprofit organization situated in Rockland, Maine, with a postal address at 386 Main Street PO Box 648. Their mission is to uphold the resilience of Maine's coastal and island communities, fostering innovation in the 'blue economy,' critical businesses, and broadband infrastructure. By exchanging ideas both locally and globally, the Institute aims to enhance the sustainability of these communities beyond Maine's shores. The organization employs a team of 69 individuals dedicated to achieving these objectives.
Official website here: www.islandinstitute.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star rating
The Island Institute has received a commendable Four-Star rating from Charity Navigator, indicating a strong level of accountability and transparency. With an Accountability & Finance score of 95 and a Culture & Community score of 89, the organization demonstrates robust governance and a commitment to ethical practices, reinforced by having 100% independent board members. The charity also excels in financial oversight, with a perfect score in audit and asset management practices.
The organization's program expense ratio stands at 65.70%, reflecting a solid commitment to its mission-driven activities. Notably, the Island Institute boasts an impressive constituent feedback score of 100, which highlights its effective engagement and responsiveness to the community it serves. This suggests that the organization not only listens to its constituents but also actively incorporates their feedback into its operations.
However, there are minor areas for improvement, particularly in its equity strategies and policies, where it scored 83 out of 100. While this is a respectable score, it indicates potential room for growth in ensuring equitable practices and processes within the organization. Overall, the Island Institute appears to be a well-run nonprofit that effectively utilizes its resources while prioritizing community input and transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Island Institute legitimate?
Island Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Island Institute submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $363,313
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,189,638
For more financial information, click here
Official website here: www.islandinstitute.org
What is the mission statement of Island Institute?
The Island Institute's mission is focused on sustaining coastal and island communities. It achieves this by exchanging ideas and experiences, aiming to enhance the sustainability of communities not only in Maine but also beyond. The organization promotes economic resilience through various programs, particularly supporting the blue economy, critical businesses, and improving broadband infrastructure. These efforts aim to preserve and strengthen these communities for a sustainable future.
Official website here: www.islandinstitute.org
Who is the CEO of Island Institute?
Peter Rand is the Chair of Island Institute.
Official website here: www.islandinstitute.org
What is the revenue of Island Institute?
Island Institute's revenue in 2022 was $7,827,911.
Official website here: www.islandinstitute.org
Who are the executives of Island Institute and what are their salaries?
The average compensation at Island Institute during 2022 was $51,492. There are 69 employees and 18 volunteers at Island Institute.
Here are 23 key members and their salaries:
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- Other: $8,586
Official website here: www.islandinstitute.org
Where can I find the form 990 for Island Institute?
Island Institute's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.islandinstitute.org
Learn more at the official website: www.islandinstitute.org
Mission Statement of Island Institute
The Island Institute, a nonprofit organization, is dedicated to preserving the sustainability of coastal and island communities in Maine. Its mission involves not only supporting the well-being of these communities but also sharing ideas and experiences to foster sustainability in similar areas globally. The organization focuses on promoting economic resilience through various programs, including those that bolster the blue economy, critical businesses, and broadband infrastructure. In essence, the Island Institute strives to ensure the long-term viability of coastal and island communities, both in Maine and beyond, by fostering sustainable economic growth and knowledge exchange.
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Impact
October, 2024
The Island Institute significantly impacts Maine's island and coastal communities by promoting economic resilience and sustainability. Through various programs focused on the blue economy, critical business development, and improving broadband infrastructure, it equips local communities with the tools they need to thrive. By encouraging the exchange of ideas and experiences, the Institute fosters collaboration among these communities to enhance their unique resources and challenges. Its commitment to sustaining these areas not only strengthens local economies but also enriches the overall fabric of coastal life in Maine, ensuring that these communities can adapt and prosper amid changing conditions.
This information is meant to be a general summary of Island Institute. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,505,470
- Program Service Revenue: $222,739
- Gross Receipts: $12,654,066
Assets and Liabilities:
- Total Assets: $34,942,404
- Total Liabilities: $906,213
- Net Assets: $34,036,191
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Earned Income
Revenue
$105,538
Publications/Information
Revenue
$59,145
Other Income
Revenue
$58,056
Organization Details
Founding Year
1983
Phone
(207) 594-9209Principal Officer
Peter Rand
Main Address
386 Main Street PO Box 648, Rockland, ME, 04841
Website
www.islandinstitute.orgNTEE Category
Code: B82Z - Education
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