ISLAND HOUSING TRUST CORPORATION: Form 990, tax year 2011

View the entire original 990 at ProPublica ↗

Organization: ISLAND HOUSING TRUST CORPORATION (EIN 02-0549245)
Tax period: 2011-01-01 to 2011-12-31
Filed: 2012-03-07
IRS object ID: 201220679349301102
Schema version: 2011v1.2
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule B
Schedule D
Schedule O
Schedule R

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2012-03-07T13:49:00-06:00	Timestamp
Tax Period End Date	2011-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	SANDERS WALSH & EATON LLP	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX F	AddressLine1
City	OSTERVILLE	City
State	MA	State
ZIP Code	02655	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2011-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	020549245	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	ISLAND HOUSING TRUST CORPORATION	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	ISLA	NameControl
Phone	5086931117	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 779	AddressLine1
City	WEST TISBURY	City
State	MA	State
ZIP Code	02575	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	PAUL MOREAU	Name
Title	TREASURER	Title
Phone	5086931117	Phone
Date Signed	2012-02-14	DateSigned

Preparer Preparer

Field	Value	IRS element (for citing)
Name	MICHAEL J WALSH CPA	Name
Phone	5084280790	Phone
Date Prepared	2012-03-07	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2011	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	RICHARD LEONARD PRESIDENT	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	PO BOX 779	AddressLine1
City	WEST TISBURY	City
State	MA	State
ZIP Code	02575	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	349654	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c3	X	Organization501c3
Web Site	WWW.IHTMV.ORG	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	2000	YearFormation
State Legal Domicile	MA	StateLegalDomicile
Activity Or Mission Description	AFFORDABLE HOUSING	ActivityOrMissionDescription
Nbr Voting Members Governing Body	14	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	14	NbrIndependentVotingMembers
Total Nbr Employees	3	TotalNbrEmployees
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Prior Year	546835	ContributionsGrantsPriorYear
Contributions Grants Current Year	271206	ContributionsGrantsCurrentYear
Program Service Revenue CY	0	ProgramServiceRevenueCY
Investment Income Current Year	24	InvestmentIncomeCurrentYear
Other Revenue Prior Year	-1740870	OtherRevenuePriorYear
Other Revenue Current Year	69972	OtherRevenueCurrentYear
Total Revenue Prior Year	-1194035	TotalRevenuePriorYear
Total Revenue Current Year	341202	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	106858	SalariesEtcPriorYear
Salaries Etc Current Year	114903	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	14796	TotalFundrsngExpCurrentYear
Other Expense Prior Year	39534	OtherExpensePriorYear
Other Expenses Current Year	57564	OtherExpensesCurrentYear
Total Expenses Prior Year	146392	TotalExpensesPriorYear
Total Expenses Current Year	172467	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-1340427	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	168735	RevenuesLessExpensesCY
Total Assets BOY	1434070	TotalAssetsBOY
Total Assets EOY	1590158	TotalAssetsEOY
Total Liabilities BOY	261632	TotalLiabilitiesBOY
Total Liabilities EOY	248985	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	1172438	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	1341173	NetAssetsOrFundBalancesEOY
Mission Description	AFFORDABLE HOUSING	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	119309	Expense
Description	TO OWN AND LEASE FOR THE PURPOSE OF DEVELOPING, BUILDING, MAINTAINING AND PROVIDING AFFORDABLE HOUSING ON MARTHA'S VINEYARD, MASSACHUSETTS. THE CORPORATION WAS CREATED AS A NON PROFIT HOUSING PARTNERSHIP BETWEEN ISLAND TOWNS, HOUSING ORGANIZATIONS AND HOMEOWNERS ON MARTHA'S VINEYARD, MASSACHUSETTS.	Description
Total Program Service Expense	119309	TotalProgramServiceExpense
Described In501 C3	true	DescribedIn501C3
Schedule B Required	true	ScheduleBRequired
Political Activities	false	PoliticalActivities
Lobbying Activities	false	LobbyingActivities
Subject To Proxy Tax	false	SubjectToProxyTax
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	true	ReportOtherAssets
Report Other Liabilities	false	ReportOtherLiabilities
Report Fin48 Footnote	false	ReportFin48Footnote
Independent Audit Financial Stmt	false	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	false	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Excess Benefit Transaction	false	ExcessBenefitTransaction
Prior Excess Benefit Transaction	false	PriorExcessBenefitTransaction
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	true	RelatedEntity
Related Org Controlled Entity	true	RelatedOrgControlledEntity
Transaction Related Entity	true	TransactionRelatedEntity
Transfers To Exempt Non Chrtbl Org	false	TransfersToExemptNonChrtblOrg
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	1	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	3	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Quid Pro Quo Contributions	false	QuidProQuoContributions
Form8282 Property Disposed Of	false	Form8282PropertyDisposedOf
Funds To Pay Premiums	false	FundsToPayPremiums
Premiums Paid	false	PremiumsPaid
Form8899 Filed	false	Form8899Filed
Form1098 C Filed	false	Form1098CFiled
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	14	NbrVotingGoverningBodyMembers
Number Independent Voting Members	14	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	false	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	true	WhistleblowerPolicy
Document Retention Policy	true	DocumentRetentionPolicy
Compensation Process CEO	true	CompensationProcessCEO
Compensation Process Other	true	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
States Where Copy Of Return Is Filed	MA	StatesWhereCopyOfReturnIsFiled
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	PAUL MOREAU TREASURER	NamePerson
Telephone Number	5086931117	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	346 STATE ROAD	AddressLine1
City	VINEYARD HAVEN	City
State	MA	State
ZIP Code	02575	ZIPCode

Field	Value	IRS element (for citing)
No Listed Persons Compensated	X	NoListedPersonsCompensated

Form990 Part VII Section A Form990PartVIISectionA (14 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	OfficerOfficer	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation
RICHARD LEONARD
PRESIDENT	1.00	X	X	0	0	0
PAUL MOREAU
TREASURER	1.00	X	X	0	0	0
VICTORIA HAESELBARTH
CLERK	1.00	X	X	0	0	0
RICHARD BLUESTEIN
BOARD MEMBER	1.00	X		0	0	0
MATT COFFEY
BOARD MEMBER	1.00	X		0	0	0
WAYNE JOHNSON
BOARD MEMBER	1.00	X		0	0	0
DURWOOD VANDERHOOP
BOARD MEMBER	1.00	X		0	0	0
JANET HEATH
BOARD MEMBER	1.00	X		0	0	0
TRISTAN ISRAEL
BOARD MEMBER	1.00	X		0	0	0
DARRAN REUBENS
BOARD MEMBER	1.00	X		0	0	0
RICHARD KNABEL
BOARD MEMBER	1.00	X		0	0	0
DOUG RUSKIN
BOARD MEMBER	1.00	X		0	0	0
WENDY SWOLINZKY
BOARD MEMBER		X		0	0	0
MARIE DOUBLEDAY
BOARD MEMBER	1.00	X		0	0	0

Field	Value	IRS element (for citing)
Formers Listed	false	FormersListed
Total Comp GT150 K	false	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation

Name Of Contractor NameOfContractor

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	WILLIAMS BUILDING COMPANY INC	BusinessNameLine1

Address Of Contractor AddressOfContractor

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	196 OLD TOWNHOUSE ROAD	AddressLine1
City	WEST YARMOUTH	City
State	MA	State
ZIP Code	02673	ZIPCode

Field	Value	IRS element (for citing)
Description Of Services	BUILDING CONTRA	DescriptionOfServices
Compensation	127142	Compensation

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	1	NumberOfContractorsGT100K
All Other Contributions	271206	AllOtherContributions
Total Contributions	271206	TotalContributions

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	24	TotalRevenueColumn
Related Or Exempt Function Income	24	RelatedOrExemptFunctionIncome

Gross Rents GrossRents

Field	Value	IRS element (for citing)
Real	25300	Real

Less Rental Expenses LessRentalExpenses

Field	Value	IRS element (for citing)
Real	8452	Real

Rental Income Or Loss RentalIncomeOrLoss

Field	Value	IRS element (for citing)
Real	16848	Real

Net Rental Income Or Loss NetRentalIncomeOrLoss

Field	Value	IRS element (for citing)
Total Revenue Column	16848	TotalRevenueColumn
Related Or Exempt Function Income	16848	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Gross Sales Of Inventory	2500	GrossSalesOfInventory

Net Income Or Loss NetIncomeOrLoss

Field	Value	IRS element (for citing)
Total Revenue Column	2500	TotalRevenueColumn
Related Or Exempt Function Income	2500	RelatedOrExemptFunctionIncome

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Total Revenue Column	50624	TotalRevenueColumn
Related Or Exempt Function Income	50624	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	50624	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	341202	TotalRevenueColumn
Related Or Exempt Function Income	69996	RelatedOrExemptFunctionIncome

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	87456	Total
Program Services	78710	ProgramServices
Management And General	8746	ManagementAndGeneral

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	27447	Total
Program Services	24702	ProgramServices
Management And General	2745	ManagementAndGeneral

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	150	Total
Management And General	150	ManagementAndGeneral

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	6761	Total
Management And General	6761	ManagementAndGeneral

Advertising Advertising

Field	Value	IRS element (for citing)
Total	2384	Total
Management And General	2384	ManagementAndGeneral

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	3265	Total
Management And General	3265	ManagementAndGeneral

Occupancy Occupancy

Field	Value	IRS element (for citing)
Total	7526	Total
Management And General	7526	ManagementAndGeneral

Travel Travel

Field	Value	IRS element (for citing)
Total	1304	Total
Management And General	1304	ManagementAndGeneral

Interest Interest

Field	Value	IRS element (for citing)
Total	6563	Total
Program Services	6563	ProgramServices

Insurance Insurance

Field	Value	IRS element (for citing)
Total	4521	Total
Program Services	3303	ProgramServices
Management And General	1218	ManagementAndGeneral

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Management And GeneralManagementAndGeneral	FundraisingFundraising	Program ServicesProgramServices
MISCELLANEOUS	17536	2740	14796
COST OF PROPERTY DEVELOPM	6031			6031
TELEPHONE	1473	1473
FILING FEES	50	50

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	172467	Total
Program Services	119309	ProgramServices
Management And General	38362	ManagementAndGeneral
Fundraising	14796	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	64848	BOY
EOY	61078	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	3450	BOY
EOY	1915	EOY

Inventories For Sale Or Use InventoriesForSaleOrUse

Field	Value	IRS element (for citing)
BOY	41654	BOY
EOY	190055	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	3990	BOY
EOY	4044	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	233342	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	68308	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	170653	BOY
EOY	165034	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	1149475	BOY
EOY	1168032	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	1434070	BOY
EOY	1590158	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	11192	BOY
EOY	11881	EOY

Deferred Revenue DeferredRevenue

Field	Value	IRS element (for citing)
BOY	25746	BOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Field	Value	IRS element (for citing)
BOY	224694	BOY
EOY	237104	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	261632	BOY
EOY	248985	EOY

Field	Value	IRS element (for citing)
Follow SFAS117	X	FollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	1172438	BOY
EOY	1341173	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	1172438	BOY
EOY	1341173	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	1434070	BOY
EOY	1590158	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	168735	ReconcilationRevenueExpenses
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	true	AccountantCompileOrReview
FS Audited	false	FSAudited
Audit Committee	true	AuditCommittee
Financial Statement Consolidated	X	FinancialStatementConsolidated
Federal Grant Audit Required	false	FederalGrantAuditRequired

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Publicly Supported Org509a2	X	PubliclySupportedOrg509a2

Gifts Grants Contrib Received509 GiftsGrantsContribReceived509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	409853	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	294957	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	1526703	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	572581	CurrentTaxYearMinus1Year
Current Tax Year	271197	CurrentTaxYear
Total	3075291	Total

Gross Receipts From Admissions GrossReceiptsFromAdmissions

Field	Value	IRS element (for citing)
Current Tax Year Minus2 Years	16795	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	3022900	CurrentTaxYearMinus1Year
Current Tax Year	52545	CurrentTaxYear
Total	3092240	Total

Gross Receipts From Non UBI GrossReceiptsFromNonUBI

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	1216500	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	10700	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	16852	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	18521	CurrentTaxYearMinus1Year
Current Tax Year	24769	CurrentTaxYear
Total	1287342	Total

Total509 Total509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	1626353	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	305657	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	1560350	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	3614002	CurrentTaxYearMinus1Year
Current Tax Year	348511	CurrentTaxYear
Total	7454873	Total

Field	Value	IRS element (for citing)
Public Support Total509	7454873	PublicSupportTotal509

Gross Investment Income509 GrossInvestmentIncome509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	172	CurrentTaxYearMinus4Years
Current Tax Year Minus2 Years	80	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	36	CurrentTaxYearMinus1Year
Current Tax Year	24	CurrentTaxYear
Total	312	Total

Investment Income And UBTI InvestmentIncomeAndUBTI

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	172	CurrentTaxYearMinus4Years
Current Tax Year Minus2 Years	80	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	36	CurrentTaxYearMinus1Year
Current Tax Year	24	CurrentTaxYear
Total	312	Total

Total Support Total TotalSupportTotal

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	1626525	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	305657	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	1560430	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	3614038	CurrentTaxYearMinus1Year
Current Tax Year	348535	CurrentTaxYear
Total	7455185	Total

Field	Value	IRS element (for citing)
Public Support Percentage509	1.00000	PublicSupportPercentage509
Prior Year Support Percentage	0.98790	PriorYearSupportPercentage
Investment Income Percentage	0.00000	InvestmentIncomePercentage
Thirty Three Percnt Tests CY509	X	ThirtyThreePercntTestsCY509

Schedule B IRS990ScheduleB

Contributor Info ContributorInfo

Field	Value	IRS element (for citing)
Contributor Number	RESTRICTED	ContributorNumber

Contributor Name Business ContributorNameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor Address US ContributorAddressUS

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Aggregate Contributions	RESTRICTED	AggregateContributions

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Disclosed Orgs Legal Control	false	DisclosedOrgsLegalControl
Disclosed For Charitable Purposes	false	DisclosedForCharitablePurposes
Written Policy Monitoring	false	WrittenPolicyMonitoring
Sect170h Requirements Satisfied	false	Sect170hRequirementsSatisfied
Solicited Assets For Sale	false	SolicitedAssetsForSale
Agent Trustee Etc	false	AgentTrusteeEtc
Included On FS	false	IncludedOnFS
Endowments Held By Unrelated Orgs	false	EndowmentsHeldByUnrelatedOrgs
Endowments Held By Related Orgs	false	EndowmentsHeldByRelatedOrgs
Are Related Orgs Listed Schedule R	false	AreRelatedOrgsListedScheduleR

Other Land Buildings OtherLandBuildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	233342	OtherCostOrOtherBasis
Depreciation	68308	Depreciation
Book Value	165034	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	165034	TotalOfBookValueLandBuildings

Other Assets OtherAssets (2 entries)

DescriptionDescription	Book ValueBookValue
GROUND LEASED LAND	1158032
LAND HELD FOR DEVELOPMENT	10000

Field	Value	IRS element (for citing)
Total Book Value Other Assets	1168032	TotalBookValueOtherAssets

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (5 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
ORGANIZATION'S PROCESS USED TO REVIEW FORM 990	FORM 990, PAGE 6, PART VI, LINE 11B	THE BOARD PRESIDENT HAS BEEN DESIGNATED AS THE FINAL REVIEWER OF THE FORM 990. BOARD MEMBERS RESOLVE ANY QUESTIONS/ISSUES AND/OR REVIEW THROUGH THE BOARD PRESIDENT AND MANAGEMENT, WHEN NECESSARY, THE RETURN IS REVIEWED BY OUTSIDE LEGAL COUNSEL. FINALLY, THE RETURN IS APPROVED AT THE BOARD MEETING.
ENFORCEMENT OF CONFLICTS POLICY	FORM 990, PAGE 6, PART VI, LINE 12C	THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE POLICY BY REQUIRING ALL DIRECTORS AND OFFICERS TO SIGN A CONFLICT OF INTEREST AND DISCLOSURE FORM ANNUALLY AND TO AFFIRMATIVELY DISCLOSE POTENTIOAL CONFLICTS AS THEY ARISE.
COMPENSATION PROCESS FOR TOP OFFICIAL	FORM 990, PAGE 6, PART VI, LINE 15A	EXECUTIVE DIRECTORS COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS.
COMPENSATION PROCESS FOR OFFICERS	FORM 990, PAGE 6, PART VI, LINE 15B	THE ORGANIZATION HAS AN INDEPENDENT COMPENSATION COMMITTEE WHICH COLLECTS AND EVALUATES ANNUALLY OUTSIDE DATA FOR COMPENSATION WHICH IS VOTED ON BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS FOR THE EXECUTIVE DIRECTOR AND ALL KEY EMPLOYEES.
GOVERNING DOCUMENTS DISCLOSURE EXPLANATION	FORM 990, PAGE 6, PART VI, LINE 19	THE GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.

Schedule R IRS990ScheduleR

Form990 Schedule R Part II Form990ScheduleRPartII

Name Of Disregarded Entity NameOfDisregardedEntity

Field	Value	IRS element (for citing)
Business Name Line1	ISLAND AFFORDABLE HOUSING FUND	BusinessNameLine1

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	346 STATE ROAD	AddressLine1
City	WEST TISBURY	City
State	MA	State
ZIP Code	02568	ZIPCode

Field	Value	IRS element (for citing)
Primary Activities	HOUSING	PrimaryActivities
Direct Controlling Entity NA	N/A	DirectControllingEntityNA
Controlled Org	false	ControlledOrg

Form990 Schedule R Part IV Form990ScheduleRPartIV

Name Of Related Org NameOfRelatedOrg

Field	Value	IRS element (for citing)
Business Name Line1	SOUTH MOUNTAIN COMPANY	BusinessNameLine1

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	RED ARROW RD PO BOX 1260	AddressLine1
City	WEST TISBURY	City
State	MA	State
ZIP Code	02568	ZIPCode

Field	Value	IRS element (for citing)
Primary Activity	BUILDING	PrimaryActivity
Legal Domicile State	MA	LegalDomicileState
Direct Controlling Entity NA	N/A	DirectControllingEntityNA
Type Of Entity	C CORP	TypeOfEntity

Field	Value	IRS element (for citing)
Receipt Of Int Ann Rents Royalties	false	ReceiptOfIntAnnRentsRoyalties
Gift Grant Or Cap Contr To Other Org	false	GiftGrantOrCapContrToOtherOrg
Gift Grant Or Cap Contr Fr Other Org	true	GiftGrantOrCapContrFrOtherOrg
Loans Or Guarantees To Other Org	false	LoansOrGuaranteesToOtherOrg
Loans Or Guarantees From Other Org	false	LoansOrGuaranteesFromOtherOrg
Sale Of Assets To Other Org	false	SaleOfAssetsToOtherOrg
Purchase Of Assets From Other Org	false	PurchaseOfAssetsFromOtherOrg
Exchange Of Assets	false	ExchangeOfAssets
Rental Of Facilities To Other Orgs	false	RentalOfFacilitiesToOtherOrgs
Rental Of Facilities Fr Other Orgs	false	RentalOfFacilitiesFrOtherOrgs
Perform Of Services For Other Orgs	true	PerformOfServicesForOtherOrgs
Perform Of Services By Other Orgs	false	PerformOfServicesByOtherOrgs
Sharing Of Facilities	false	SharingOfFacilities
Sharing Of Paid Employees	false	SharingOfPaidEmployees
Reimbursement Paid To Other Org	false	ReimbursementPaidToOtherOrg
Reimbursement Paid By Other Org	false	ReimbursementPaidByOtherOrg
Other Transfer To Other Org	false	OtherTransferToOtherOrg
Other Transfer From Other Org	false	OtherTransferFromOtherOrg

Transactions Related Orgs Table TransactionsRelatedOrgsTable (2 entries)

Transaction TypeTransactionType	Amount InvolvedAmountInvolved
ISLAND AFFORDABLE HOUSING FUND
C	1790
SOUTH MOUNTAIN COMPANY INC
K	1500

ISLAND HOUSING TRUST CORPORATION: Form 990, tax year 2011

Return header ReturnHeader

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Preparer Firm US Address PreparerFirmUSAddress

Filer Filer

Name Name

US Address USAddress

Officer Officer

Preparer Preparer

Form 990 IRS990

Address Principal Officer US AddressPrincipalOfficerUS

The Books Are In Care Of TheBooksAreInCareOf

Address US AddressUS

Form990 Part VII Section A Form990PartVIISectionA (14 entries)

Contractor Compensation ContractorCompensation

Name Of Contractor NameOfContractor

Name Business NameBusiness

Address Of Contractor AddressOfContractor

Address US AddressUS

Investment Income InvestmentIncome

Gross Rents GrossRents

Less Rental Expenses LessRentalExpenses

Rental Income Or Loss RentalIncomeOrLoss

Net Rental Income Or Loss NetRentalIncomeOrLoss

Net Income Or Loss NetIncomeOrLoss

Other Revenue Misc OtherRevenueMisc

Total Revenue TotalRevenue

Other Salaries And Wages OtherSalariesAndWages

Payroll Taxes PayrollTaxes

Fees For Services Legal FeesForServicesLegal

Fees For Services Accounting FeesForServicesAccounting

Advertising Advertising

Office Expenses OfficeExpenses

Occupancy Occupancy

Travel Travel

Interest Interest

Insurance Insurance

Other Expenses OtherExpenses (4 entries)

Total Functional Expenses TotalFunctionalExpenses

Cash Non Interest Bearing CashNonInterestBearing

Accounts Receivable AccountsReceivable

Inventories For Sale Or Use InventoriesForSaleOrUse

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Other Assets Total OtherAssetsTotal

Total Assets TotalAssets

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Deferred Revenue DeferredRevenue

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Total Liabilities TotalLiabilities

Unrestricted Net Assets UnrestrictedNetAssets

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Schedule A IRS990ScheduleA

Gifts Grants Contrib Received509 GiftsGrantsContribReceived509

Gross Receipts From Admissions GrossReceiptsFromAdmissions

Gross Receipts From Non UBI GrossReceiptsFromNonUBI

Total509 Total509

Gross Investment Income509 GrossInvestmentIncome509

Investment Income And UBTI InvestmentIncomeAndUBTI

Total Support Total TotalSupportTotal

Schedule B IRS990ScheduleB

Contributor Info ContributorInfo

Contributor Name Business ContributorNameBusiness

Contributor Address US ContributorAddressUS

Schedule D IRS990ScheduleD

Other Land Buildings OtherLandBuildings

Other Assets OtherAssets (2 entries)

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (5 entries)

Schedule R IRS990ScheduleR

Form990 Schedule R Part II Form990ScheduleRPartII

Name Of Disregarded Entity NameOfDisregardedEntity

Address US AddressUS

Form990 Schedule R Part IV Form990ScheduleRPartIV

Name Of Related Org NameOfRelatedOrg

Address US AddressUS

Transactions Related Orgs Table TransactionsRelatedOrgsTable (2 entries)

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