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Nonprofit · EIN 46-5191767

I LOVE MY ISLAND INC

Also known as MY ISLAND THRIFT STORE

Tax-exempt · MERRITT IS, FL 32952

Financials

$677K$695K2023$783K$763K2024
Revenue Expenses · by fiscal year end
Financials of I LOVE MY ISLAND INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$782,758$762,607$20,151$196,300$104,385$91,915
December 31, 2023990$676,768$695,165-$18,397$175,555$103,791$71,764
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$10,575
Program service revenue
$0
Investment income
$2,218
Net income from sales of inventory
$755,254
Other revenue
$769,965

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$19,862
Compensation of officers, directors and key employees
$83,901
Other salaries and wages
$320,356
Salaries, compensation and benefits (total)
$438,296
Professional fundraising fees
$0
Legal fees
$1,136
Accounting fees
$3,500
Occupancy
$181,169
Depreciation
$254
Program services (functional)
$762,607

Balance sheet and other

Total assets, start of year
$175,555
Total assets, end of year
$196,300
Total liabilities, end of year
$104,385
Net assets, end of year
$91,915
Land, buildings and equipment
$340
Net assets without donor restrictions
$91,915
Gross receipts
$782,758
Employees
38
Volunteers
36
Year formed
2014
State of legal domicile
FL

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
Lou ColomboPresident
Officer
6$49,000
Carolyn PincheckTreasurer
Officer
6$24,700
Julie ColomboVice President
Officer
6$10,201
Delinda GriffisBoard Member
Officer
2$0
Angel LopezBoard Member
Officer
2$0
Dominick DamicoBoard Member
Officer
2$0
Tina HermannBoard Member
Officer
2$0
990 for the year ended December 31, 2023: 7 people
NameTitleHours / weekCompensation
Lou ColomboPresident
Officer
6$49,000
Carolyn PincheckTreasurer
Officer
6$24,700
Julie ColomboVice President
Officer
6$12,900
Denise MooreSecretary
Officer
2$0
Courtney KellemBoard Member
Officer
2$0
Dominick DamicoBoard Member
Officer
2$0
Tina HermannBoard Member
Officer
2$0

Address and contacts

Address (IRS master file)
234 E MERRITT ISLAND CSWY, MERRITT IS, FL 32952-3637
Principal officer (990 for 2024)
Lou Colombo, 3821 Sunbeam Ct, Merritt Island, FL 32953
Signed the 990
Lou Colombo, President
Phone
(321) 536-2227
Return prepared by
Rhonda L Hinds & Associates CPA PA

Mission

To assist the community and support local events and individuals in need.

990 for the year ended December 31, 2024

Program accomplishments

  • Assisted the local community and families in need.
    Expenses $762,607 · revenue $782,758

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
46-5191767
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2014
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Human services (P20)
Assets (IRS master file)
$196,300
Income (IRS master file)
$782,758

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$782,758$762,607$196,300IRS
990December 2023$676,768$695,165$175,555XML
990December 2022$584,158$585,065$193,391IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-5191767).

Questions about I LOVE MY ISLAND INC

What is the EIN of I LOVE MY ISLAND INC?
The employer identification number (EIN) of I LOVE MY ISLAND INC is 46-5191767.
Is I LOVE MY ISLAND INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
Are donations to I LOVE MY ISLAND INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does I LOVE MY ISLAND INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of I LOVE MY ISLAND INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did I LOVE MY ISLAND INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of I LOVE MY ISLAND INC?
The 990 for the year ended December 31, 2024 names Lou Colombo.
Who are the officers and directors of I LOVE MY ISLAND INC?
The 990 for the year ended December 31, 2024 lists 7 people; 3 received compensation from the organization, the highest $49,000 (Lou Colombo, President).
How much revenue does I LOVE MY ISLAND INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $782,758, expenses of $762,607 and total assets of $196,300 at year end.

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