The current number of year-round households on the island is ten, however the population climbs to 700 people during the summer months.

Shortly afterwards a dispute over some harvested trees created a brief disturbance called "The Grindstone Island War" in which American militia attempted to prevent the removal of the logs.

The island also has a Methodist church founded in 1899 (with services on Sundays) with a Community Center (Dodge Hall) across the street (with dances on Saturday nights in the summer) and a no longer functioning Creamery and Cheese Factory.

The island is a self-sustaining environment that operates on an honor system;[citation needed] however, infrastructure such as electricity is provided by National Grid US.

TILT acts as a steward of another 900 acres (360 ha) of wetlands, forest and grasslands on privately held property through conservation easements.