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Nonprofiteer
← ISLAND TREASURE FOUNDATION

Form 990 for tax year 2024

Filed by ISLAND TREASURE FOUNDATION.

Totals

Total revenue
$30,946
Total expenses
$42,074
Contributions and grants received
$25,156
Grants paid
$10,000
Program service revenue
$0
Investment income
$0
Other revenue
$5,790
Total assets, end of year
$27,210
Total liabilities, end of year
$2,400
Net assets or fund balances, end of year
$24,810
Program services expenses (Part IX)
$27,037
Management and general expenses
$15,037
Fundraising expenses
$0
Program service expenses (Part III)
$27,037

Program services were 64.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $25,156

  • 8a · Fundraising events: gross income

    $5,790

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $5,790 · excluded $5,790

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $10,000 · program services $10,000

  • 11c · Fees: accounting

    total $12,247 · management and general $12,247

  • 11g · Fees: other

    total $6,056 · program services $6,000 · management and general $56

  • 13 · Office expenses

    total $443 · management and general $443

  • 19 · Conferences, conventions and meetings

    total $11,037 · program services $11,037

  • 23 · Insurance

    total $1,086 · management and general $1,086

  • 24a · Other expenses: WEBSITE

    total $844 · management and general $844

  • 24b · Other expenses: MEALS

    total $361 · management and general $361

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $39,418 · end of year $27,210

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,480 · end of year $2,400

  • 27 · Net assets without donor restrictions

    beginning of year $35,938 · end of year $24,810

Mission and programs · 2024

Mission

THE ISLAND TREASURE AWARDS HONOR EXCELLENCE IN THE ARTS AND/OR HUMANITIES, AND ARE PRESENTED ANNUALLY TO INDIVIDUALS WHO HAVE MADE OUTSTANDING CONTRIBUTIONS IN THE ARTS AND HUMANITIES OR HAVE BEEN A LEADER OF EFFORTS THAT HAVE BENEFITTED OUR CULTURAL COMMUNITY. THE AWARD IS A COMMUNITY-BASED PROGRAM INTENDED TO IDENTIFY AND CONSIDER CREATIVE INDIVIDUALS WHO ARE LIVING ON BAINBRIDGE ISLAND OR WHOSE PRINCIPAL WORK IS BASED ON BAINBRIDGE ISLAND, AND HAVE DISPLAYED AN ONGOING COMMITMENT TO THEIR CHOSEN FIELD.

  • THE ISLAND TREASURE AWARDS HONOR EXCELLENCE IN THE ARTS AND/OR HUMANITIES, AND ARE PRESENTED ANNUALLY TO INDIVIDUALS WHO HAVE MADE OUTSTANDING CONTRIBUTIONS IN THE ARTS AND HUMANITIES OR HAVE BEEN A LEADER OF EFFORTS THAT HAVE BENEFITTED OUR CULTURAL COMMUNITY. THE AWARD IS A COMMUNITY-BASED PROGRAM INTENDED TO IDENTIFY AND CONSIDER CREATIVE INDIVIDUALS WHO ARE LIVING ON BAINBRIDGE ISLAND OR WHOSE PRINCIPAL WORK IS BASED ON BAINBRIDGE ISLAND, AND HAVE DISPLAYED AN ONGOING COMMITMENT TO THEIR CHOSEN FIELD.

    Expenses $27,037 · Grants $10,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Cynthia L Sears

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • David Lewis

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Hidd Van Duym

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Ellen Bush

    TREASURER

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Claudia Anderson

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202543149349302099

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