Civic Intelligence

Island Thrift

990 • Fiscal year 2024 • EIN 91-0996800

Jan 01, 2024 to Dec 31, 2024 • Filed on Sep 11, 2025

Organization Profileislandthriftoakharbor.org
600 SE BarringtonOak Harbor, WA 98277

(360) 675-1133

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

34th percentile

0.01x

Higher debt load relative to assets than 34% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

32nd percentile

0.02x

Higher debt load relative to revenue than 32% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

67th percentile

15%

Higher net margin than 67% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

71st percentile

14%

Faster asset growth than 71% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

33rd percentile

-1.4%

Faster revenue growth than 33% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$1,718,456

Up $207,478 (+14%) from 2023

Net Assets

Up

$1,696,429

Up $206,813 (+14%) from 2023

Liabilities

Up

$22,027

Up $665 (+3.1%) from 2023

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin67th percentile

Revenue

Down

$1,326,074

Down $18,415 (-1.4%) from 2023

Expenses

Down

$1,129,259

Down $29,485 (-2.5%) from 2023

Net Income

Up

$196,815

Up $11,070 (+6.0%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $628,627Liabilities 2011: $14,924Net Assets 2011: $613,7032011Assets 2012: $738,160Liabilities 2012: $16,430Net Assets 2012: $721,7302012Assets 2013: $753,442Liabilities 2013: $15,565Net Assets 2013: $737,8772013Assets 2014: $791,921Liabilities 2014: $12,490Net Assets 2014: $779,4312014Assets 2015: $915,114Liabilities 2015: $17,821Net Assets 2015: $897,2932015Assets 2016: $840,580Liabilities 2016: $15,513Net Assets 2016: $825,0672016Assets 2017: $815,535Liabilities 2017: $16,824Net Assets 2017: $798,7112017Assets 2018: $719,878Liabilities 2018: $18,889Net Assets 2018: $700,9892018Assets 2019: $792,088Liabilities 2019: $19,544Net Assets 2019: $772,5442019Assets 2020: $895,118Liabilities 2020: $132,016Net Assets 2020: $763,1022020Assets 2021: $1,109,541Liabilities 2021: $131,680Net Assets 2021: $977,8612021Assets 2022: $1,313,693Liabilities 2022: $18,919Net Assets 2022: $1,294,7742022Assets 2023: $1,510,978Liabilities 2023: $21,362Net Assets 2023: $1,489,6162023Assets 2024: $1,718,456Liabilities 2024: $22,027Net Assets 2024: $1,696,4292024

Highlighted filing

2024

Assets$1,718,456
Liabilities$22,027
Net Assets$1,696,429
Open 2024 Filing

Operations Trend

Revenue Growth33rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $902,107Expenses 2011: $807,637Net Income 2011: $94,4702011Expenses 2012: $818,1192012Revenue 2013: $917,821Expenses 2013: $902,241Net Income 2013: $15,5802013Revenue 2014: $936,004Expenses 2014: $894,451Net Income 2014: $41,5532014Revenue 2015: $1,012,752Expenses 2015: $894,890Net Income 2015: $117,8622015Revenue 2016: $1,005,063Expenses 2016: $1,077,289Net Income 2016: -$72,2262016Revenue 2017: $1,020,812Expenses 2017: $1,047,168Net Income 2017: -$26,3562017Revenue 2018: $1,069,557Expenses 2018: $1,167,279Net Income 2018: -$97,7222018Revenue 2019: $1,183,890Expenses 2019: $1,112,335Net Income 2019: $71,5552019Revenue 2020: $874,057Expenses 2020: $883,499Net Income 2020: -$9,4422020Revenue 2021: $1,303,558Expenses 2021: $1,052,968Net Income 2021: $250,5902021Revenue 2022: $1,370,857Expenses 2022: $1,055,653Net Income 2022: $315,2042022Revenue 2023: $1,344,489Expenses 2023: $1,158,744Net Income 2023: $185,7452023Revenue 2024: $1,326,074Expenses 2024: $1,129,259Net Income 2024: $196,8152024

Highlighted filing

2024

Revenue$1,326,074
Expenses$1,129,259
Net Income$196,815
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 11, 2025
Return Version
2024v5.2
Gross Receipts
$1,326,074
Mission and Program Overview

Mission

Raise funds through the thrift store to provide support and contributions to worthwhile community organizations.

Operate a thrift store to generate funds for charitable purposes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,073,326$1,281,456▲ $208,130
Land, Buildings, and Equipment, Net$407,469$404,759▼ $2,710
Cash and Non-Interest-Bearing Accounts$30,183$32,241▲ $2,058
Total Assets$1,510,978$1,718,456▲ $207,478
Liabilities
Accounts Payable and Accrued Expenses$21,362$22,027▲ $665
Total Liabilities$21,362$22,027▲ $665
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,489,616$1,696,429▲ $206,813
Total Net Assets Fund Balance$1,489,616$1,696,429▲ $206,813
Total Liabilities and Net Assets / Fund Balance$1,510,978$1,718,456▲ $207,478

Asset Categories

AssetBook ValueDepreciationBasis
Land$402,309-$402,309
Equipment$2,449$53,852$56,301
Other Land Buildings$1$48,223$48,224
Leasehold Improvements-$5,935$5,935
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Alex PfeifferPresident
Kyle RenningerVice President
Beth MunnsBoard Member
Gary BernerBoard Member
Jan HughesBoard Member
Jim PalmerBoard Member
Jim SlowikBoard Member
Joe MosolinoBoard Member
Julie GammacheBoard Member
Ken EelkemaBoard Member
Lyn BankowskiBoard Member
Renee HanksBoard Member
Jim KotschwarSecretary
Peg ShannonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,437
Program Service Revenue
$0
Investment Income
$28,520
Other Revenue
$1,295,117
All Other Contributions
$2,437
Change in Net Assets
$196,815
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$652,838
Other Expenses$265,194
Grants and Similar Amounts Paid$211,227
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$483,073$4,880-$487,953
Grants to Domestic Orgs$211,227--$211,227
Occupancy$164,946$5,101-$170,047
Current Officers, Directors, Trustees, and Key Employees$84,408$853-$85,261
Payroll Taxes$57,580$582-$58,162
Other Expenses$25,400$267-$25,400
Other Employee Benefits$21,247$215-$21,462
Fees for Services Accounting-$19,960-$19,960
Insurance$10,871$6,663-$17,534
Office Expenses$4,709$1,177-$5,886
Depreciation Depletion$2,439$271-$2,710
Advertising$992--$992
Travel$199--$199
Total Functional Expenses$1,088,942$40,317$0$1,129,259
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Pby Memorial FoundationOak Harbor, WA-Capital Construction Grant for a New Museum Building for the Naval Air Museum in Oak Harbor Wa as Well as a Matching Grant Event Sponsorship for the Pby Celebration of Flight 2024 to Raise Funds to Support the Pacific Northwest Navel Air Museum in Oak Harbor Wa$30,000
Oak Harbor Music FesivalOak Harbor, WA-Matching Grant Event Sponsorship for the Oak Harbor Music Festival to Provide a Free Community Music Festival in Oak Harbor Wa$20,500
Boys and Girls Club of Oak HarborOak Harbor, WA-Matching Grant Event Sponsorship for the Bids for Kids Dinner Auction 2024 to Raise Funds to Provide Youth Services in Oak Harbor Wa$20,000
Island Senior ResourcesLangley, WA-Maching General Operating Support Grant Supporting Meals on Wheels Prepared Meals for Senior Aged People on Whidbey Island Wa$20,000
StepsOak Harbor, WA-Multi-year General Operting Support Grant for Early Intervention Therapy for Children With Developmental Delays and Their Families on Whidbey Island Wa$19,000
Oak Harbor Senior CenterOak Harbor, WA-Multi-year General Operating Support Grant to Provide Senior Programming and a Senior Center for Sinior Age People in Oak Harbor Wa$14,400
WHIDBEY WOMEN'S CLINICOak Harbor, WA-Mulit-year General Operating Support Grant to Provide Equipment, Materials, and Support to New Parents and Their Babies on Whidbey Island Wa$12,000
SoroptimistOak Harbor, WA-For Scholarships and Support Programs for Women and Gils on Whidbey Island Wa$10,000
Whidbey Health FoundationCoupeville, WA-Even Sponsorship Grant for Tur De Whidbey 2023 to Raise Funds for Community Healthcare and the Public Hospital on Whidbey Island Wa$10,000
Spin CafeOak Harbor, WA-Single Year General Operating Support Grant for Providing Hot Meals to People Experiencing Homelessness in Oak Harbor Wa$9,000
Big Brothers Big SistersOak Harbor, WA-General Operating Support to Provide Youth Peer Mentoring Programs and Services in Island County Wa$7,500
Nw Help HouseOak Harbor, WA-Multi-year General Operating Support Grant to Purchase Nutrisious Food for Low Income People on North Whidbey Island Wa$6,000
Mother MentorsLangley, WA-Single Year General Operating Support Grant for Programs That Support Parents Including in Home Mentoring, Playscape Pantry, and Parent Support Circles in Oak Harbor Wa$5,000
Readiness to LearnLangley, WA-General Operating Support for Programming for Low Income At-risk and Students Experiencing Homelessness Within the South Whidbey School Disrict.$5,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Payroll taxes-
State sales tax-
SBA PPP Loan - Peoples Bank-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Treasurer reviews return before filing. All boardmembers review for questions at a subsequent board of directors meeting”

Form 990, Part VI, Section C, Line 19

“Copy of tax return, form 990 is available upon request”

Form 990, Part VI, Section B, Line 12C

“Each board member signs a conflict of interest policystatement when joining the board. This policy requires disclosure of members association with any organizations requesting a grant and abstention from any board consideration and action with respect to that grant request.”

Filing and Contact Details

Filer

Filer Name
Island Thrift
EIN
91-0996800
Phone
3606751133
Address
600 SE BARRINGTON, OAK HARBOR, WA 98277

Signing Officer

Name
Peg Shannon
Title
Treasurer
Phone
3606751133
Signed
2025-09-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peg Shannon
Formed
1977
Legal Domicile
Wa
Voting Board Members
14
Independent Board Members
14
Employees
22

Preparer

Firm
Pacific Grace Tax and Accounting
Address
31925 State Route 20, OAK HARBOR, WA 98277
Preparer
Cathleen A Rockwell EA
Phone
3606756838
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0ISLAND 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.
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IRS990/OccupancyGrp/TotalAmt0170047
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IRS990/OfficeExpensesGrp/TotalAmt05886
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IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt021462
IRS990/OtherExpensesGrp/Desc0TAX LICENSES
IRS990/OtherExpensesGrp/Desc1OPERATING EXPENSES
IRS990/OtherExpensesGrp/Desc2IN KIND EXPENSES-VOUCHERS
IRS990/OtherExpensesGrp/Desc3MERCHANT CARD FEES/DIRECT DEPOSIT FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0348
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1267
IRS990/OtherExpensesGrp/ProgramServicesAmt08343
IRS990/OtherExpensesGrp/ProgramServicesAmt113081
IRS990/OtherExpensesGrp/ProgramServicesAmt2427
IRS990/OtherExpensesGrp/ProgramServicesAmt325400
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IRS990/OtherExpensesGrp/TotalAmt2427
IRS990/OtherExpensesGrp/TotalAmt325400
IRS990/OtherRevenueMiscGrp/Desc0GAIN ON SALE OF VAN
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IRS990/PrincipalOfficerNm0PEG SHANNON
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
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IRS990/RegularMonitoringEnfrcInd0true
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0670
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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Payroll taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2State sales tax
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3SBA PPP Loan - Peoples Bank
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
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IRS990ScheduleI/RecipientTable/CashGrantAmt1010000
IRS990ScheduleI/RecipientTable/CashGrantAmt1119000

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Filings

Displayed year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,718,456
Liabilities
$22,027
Net assets
$1,696,429
Revenue
$1,326,074
Expenses
$1,129,259
Net income
$196,815
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.72$0.02$1.70$1.33$1.13$0.20
2023Detailed filing. Detailed filing data is available for this year.$1.51$0.02$1.49$1.34$1.16$0.19
2022Detailed filing. Detailed filing data is available for this year.$1.31$0.02$1.29$1.37$1.06$0.32
2021Detailed filing. Detailed filing data is available for this year.$1.11$0.13$0.98$1.30$1.05$0.25
2020Detailed filing. Detailed filing data is available for this year.$0.90$0.13$0.76$0.87$0.88$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.79$0.02$0.77$1.18$1.11$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.72$0.02$0.70$1.07$1.17$0.10
2017Detailed filing. Detailed filing data is available for this year.$0.82$0.02$0.80$1.02$1.05$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.84$0.02$0.83$1.01$1.08$0.07
2015Detailed filing. Detailed filing data is available for this year.$0.92$0.02$0.90$1.01$0.89$0.12
2014Detailed filing. Detailed filing data is available for this year.$0.79$0.01$0.78$0.94$0.89$0.04
2013Detailed filing. Detailed filing data is available for this year.$0.75$0.02$0.74$0.92$0.90$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.74$0.02$0.72$0.82
2011Summary only. Only limited summary data is available for this year.$0.63$0.01$0.61$0.90$0.81$0.09