ISLAND GROWN INITIATIVE LTD (EIN 205773892) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

GAIL ARNOLD

Phone

5086879062

Tax Period

2024-01-01 to 2024-12-31

ISLAND GROWN INITIATIVE LTD, founded in 2006, is a community nonprofit in the Food, Agriculture & Nutrition sector that reported $6.1M in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year. The organization ran a surplus of $2.2M, a strong 36% operating margin.

Mission

ISLAND GROWN INITIATIVE (IGI) IS A NONPROFIT THAT WORKS TO BUILD A REGENERATIVE AND EQUITABLE FOOD SYSTEM ON MARTHAS VINEYARD. WE ENVISION AN ISLAND FOOD SYSTEM THAT STRENGTHENS THE RELATIONSHIP BETWEEN PEOPLE AND THE LAND AND SEA, PROMOTES A RESILIENT ECOSYSTEM, AND ENSURES THAT ALL PEOPLE HAVE THE KNOWLEDGE, SKILLS, AND RESOURCES THEY NEED TO GROW, ACCESS, AND PREPARE NOURISHING FOOD. FOUNDED IN 2006, IGI IS NOW DEEPLY EMBEDDED IN OUR ISLAND CULTURE AND COMMUNITY. WE PROVIDE FOOD ACCESS TO 1 IN 5 YEAR-ROUND ISLANDERS EACH YEAR THROUGH OUR ISLAND FOOD PANTRY, EDUCATE ALL ISLAND CHILDREN AGES 2-18 ABOUT FOOD IN OUR SCHOOLS, AND PRODUCE ABUNDANT FOOD TO HELP MEET LOCAL FOOD NEEDS USING REGENERATIVE FARMING METHODS AT OUR 40 ACRE FARM. WE ALSO WORK WITH MANY PARTNERS TO MOVE THE OVERALL ISLAND FOOD SYSTEM--GROWING, SOURCING, PREPARING, AND DISTRIBUTING FOOD--IN A REGENERATIVE AND EQUITABLE DIRECTION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,673,279

Program Service Revenue $93,263

Investment Income $56,164

Other Revenue $305,473

TOTAL REVENUE $6,128,179

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,817,442

Fundraising Expenses $407,604

Program Expenses $3,238,393

Other Expenses $2,107,887

TOTAL EXPENSES $3,925,329

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,128,179	$7,074,716	-0.1%
Expenses	$3,925,329	$3,093,905	+0.3%
Net Income	$2,202,850	$3,980,811	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

329

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$235,178

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE GITTLEN	CO-EXECUTIVE	40.00	Officer	$117,167	$0	$117,167
TAYLOR ELEANORE	CO-EXECUTIVE	40.00	Officer	$86,750	$3,609	$90,359
REBECCA HAAG	EXECUTIVE DI	40.00	Officer	$26,897	$755	$27,652
GAIL ARNOLD	CHAIR	5.00	Officer Director	$0	$0	$0
CLAUDIA EWING	VICE-CHAIR	5.00	Officer Director	$0	$0	$0
MARK CHUNG	CLERK	5.00	Officer Director	$0	$0	$0
STEVE SCHLAGETER	TREASURER	5.00	Officer Director	$0	$0	$0
CRAIG BARTON	BOARD MEMBER	5.00	Director	$0	$0	$0
KAREN BRUSH	BOARD MEMBER	5.00	Director	$0	$0	$0
ALLEN CARNEY	BOARD MEMBER	5.00	Director	$0	$0	$0
ROSEMARY CHALK	BOARD MEMBER	5.00	Director	$0	$0	$0
ELISA COHEN	BOARD MEMBER	5.00	Director	$0	$0	$0
MARY DEFREITAS	BOARD MEMBER	5.00	Director	$0	$0	$0
CHERYL FINLEY	BOARD MEMBER	5.00	Director	$0	$0	$0
MARY KENWORTH	BOARD MEMBER	5.00	Director	$0	$0	$0
MARK LUTHRINGSHAUSER	BOARD MEMBER	5.00	Director	$0	$0	$0
JENNIFER RANDOLPH	BOARD MEMBER	5.00	Director	$0	$0	$0
MITCH RUBIN	BOARD MEMBER	5.00	Director	$0	$0	$0
ELIO SILVA	BOARD MEMBER	5.00	Director	$0	$0	$0
JULI VANDERHOOP	BOARD MEMBER	5.00	Director	$0	$0	$0
STEVE WARNER	BOARD MEMBER	5.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$6,128,179	$3,925,329	$19,770,767	$2,202,850
2023	$7,074,716	$3,093,905	$16,142,198	$3,980,811
2022	$6,097,130	$2,949,687	$11,982,316	$3,147,443
2021	$3,594,169	$2,444,626	$8,457,052	$1,149,543
2020	$2,220,519	$1,830,862	$5,603,919	$389,657
2019	$1,717,292	$1,517,120	$5,192,966	$200,172
2018	$1,407,063	$1,408,375	$5,073,067	$-1,312

ISLAND GROWN INITIATIVE LTD