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Nonprofit · EIN 91-0996800

ISLAND THRIFT

Tax-exempt · OAK HARBOR, WA 98277

Financials

$1.3M$1.2M2023$1.3M$1.1M2024
Revenue Expenses · by fiscal year end
Financials of ISLAND THRIFT by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$1,326,074$1,129,259$196,815$1,718,456$22,027$1,696,429
December 31, 2023990$1,344,489$1,158,744$185,745$1,510,978$21,362$1,489,616
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$2,437
Program service revenue
$0
Investment income
$28,520
Net income from sales of inventory
$1,294,417
Other revenue
$1,295,117

Expenses

Grants and similar amounts paid
$211,227
Compensation of officers, directors and key employees
$85,261
Other salaries and wages
$487,953
Salaries, compensation and benefits (total)
$652,838
Professional fundraising fees
$0
Accounting fees
$19,960
Occupancy
$170,047
Travel
$199
Depreciation
$2,710
Program services (functional)
$1,088,942
Management and general (functional)
$40,317

Balance sheet and other

Total assets, start of year
$1,510,978
Total assets, end of year
$1,718,456
Total liabilities, end of year
$22,027
Net assets, end of year
$1,696,429
Land, buildings and equipment
$404,759
Net assets without donor restrictions
$1,696,429
Gross receipts
$1,326,074
Employees
22
Year formed
1977
State of legal domicile
WA

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
ALEX PFEIFFERPRESIDENT
Trustee or director, Officer
2$0
PEG SHANNONTREASURER
Trustee or director, Officer
2$0
GARY BERNERBOARD MEMBER
Trustee or director
2$0
JIM KOTSCHWARSECRETARY
Trustee or director, Officer
2$0
JOE MOSOLINOBOARD MEMBER
Trustee or director
2$0
BETH MUNNSBOARD MEMBER
Trustee or director
2$0
JIM SLOWIKBOARD MEMBER
Trustee or director
2$0
KEN EELKEMABOARD MEMBER
Trustee or director
6$0
KYLE RENNINGERVICE PRESIDENT
Trustee or director, Officer
4$0
JIM PALMERBOARD MEMBER
Trustee or director
2$0
LYN BANKOWSKIBOARD MEMBER
Trustee or director
2$0
JAN HUGHESBOARD MEMBER
Trustee or director
2$0
RENEE HANKSBOARD MEMBER
Trustee or director
2$0
JULIE GAMMACHEBOARD MEMBER
Trustee or director
2$0
990 for the year ended December 31, 2023: 14 people
NameTitleHours / weekCompensation
ALEX PFEIFFERPRESIDENT
Trustee or director, Officer
2$0
PEG SHANNONTREASURER
Trustee or director, Officer
2$0
GARY BERNERBOARD MEMBER
Trustee or director
2$0
JIM KOTSCHWARSECRETARY
Trustee or director, Officer
2$0
JOE MOSOLINOBOARD MEMBER
Trustee or director
2$0
BETH MUNNSBOARD MEMBER
Trustee or director
2$0
JIM SLOWIKBOARD MEMBER
Trustee or director
2$0
KEN EELKEMABOARD MEMBER
Trustee or director
6$0
KYLE RENNINGERVICE PRESIDENT
Trustee or director, Officer
4$0
JIM PALMERBOARD MEMBER
Trustee or director
2$0
RHONDA SEVERNSBOARD MEMBER
Trustee or director
2$0
LYN BANKOWSKIBOARD MEMBER
Trustee or director
2$0
JAN HUGHESBOARD MEMBER
Trustee or director
2$0
RENEE HANKSBOARD MEMBER
Trustee or director
2$0

Address and contacts

Address (IRS master file)
600 SE BARRINGTON DR, OAK HARBOR, WA 98277-3274
Principal officer (990 for 2024)
PEG SHANNON, 600 SE BARRINGTON DRIVE, OAK HARBOR, WA 98277
Signed the 990
PEG SHANNON, TREASURER
Phone
(360) 675-1133
Return prepared by
PACIFIC GRACE TAX AND ACCOUNTING

Mission

ISLAND THRIFT IS A NONPROFIT DEDICATED TO HELPING WHIDBEY ISLANDERS THRIVE. THROUGH OUR EFFECIENTLY RUN THRIFT STORE WE OFFER AN AFFORDABLE SHOPPING EXPERIENCE, A CONVENIENT WAY TO DONATE GENTLY USED ITEMS, AND A GENROUS COMMUNITY GRANTS PROGRAM.

990 for the year ended December 31, 2024

Program accomplishments

  • COMMUNITY CONTRIBUTIONS - ISLAND THRIFT PROVIDES GRANT FUNDING TO NUMEROUS ISLAND COUNTY, WA ORGANIZATIONS AND CHARITIES. TOGETHER, WE ARE REINVESTING IN THE COMMUNITY WE LOVE.
    Expenses $1,088,942 · grants $211,227 · revenue $1,326,074

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
91-0996800
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1977
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Human services (P29Z)
Assets (IRS master file)
$1,718,456
Income (IRS master file)
$1,326,074

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$1,326,074$1,129,259$1,718,456XML
990December 2023$1,344,489$1,158,744$1,510,978XML
990December 2022$1,370,857$1,055,653$1,313,693IRS
990December 2021–––IRS
990December 2020–––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 91-0996800).

Questions about ISLAND THRIFT

What is the EIN of ISLAND THRIFT?
The employer identification number (EIN) of ISLAND THRIFT is 91-0996800.
Is ISLAND THRIFT tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1977.
Are donations to ISLAND THRIFT tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does ISLAND THRIFT 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 ISLAND THRIFT 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 ISLAND THRIFT 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 ISLAND THRIFT?
The 990 for the year ended December 31, 2024 names PEG SHANNON.
Who are the officers and directors of ISLAND THRIFT?
The 990 for the year ended December 31, 2024 lists 14 people; 0 received compensation from the organization.
How much revenue does ISLAND THRIFT have?
On its 990 for the year ended December 31, 2024 it reported revenue of $1,326,074, expenses of $1,129,259 and total assets of $1,718,456 at year end.

Other nonprofits in OAK HARBOR

All nonprofits in OAK HARBOR · Washington · Human services