Civic Intelligence

International Spanish Language Academy

990 • Fiscal year 2016 • EIN 01-0872726

Jul 01, 2015 to Jun 30, 2016 • Filed on Mar 30, 2017

Organization Profilewww.isla-academy.org
5959 Shady Oak Road SMinnetonka, MN 55343-8969

(952) 746-6020

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.08x

Higher debt load relative to assets than 93% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

79th percentile

0.58x

Higher debt load relative to revenue than 79% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

44th percentile

0.5%

Higher net margin than 44% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

42nd percentile

$43,592

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

56th percentile

2.9%

Faster asset growth than 56% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

54th percentile

4.3%

Faster revenue growth than 54% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$1,464,065

Up $40,801 (+2.9%) from 2015

Net Assets

Up

-$111,884

Up $13,739 (+11%) from 2015

Liabilities

Up

$1,575,949

Up $27,062 (+1.7%) from 2015

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin44th percentile

Revenue

Up

$2,705,440

Up $111,632 (+4.3%) from 2015

Expenses

Up

$2,691,701

Up $178,219 (+7.1%) from 2015

Net Income

Down

$13,739

Down $66,587 (-83%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $404,715Liabilities 2010: $31,110Net Assets 2010: $373,6052010Assets 2011: $550,799Liabilities 2011: $53,556Net Assets 2011: $497,2432011Assets 2012: $1,055,946Liabilities 2012: $283,476Net Assets 2012: $772,4702012Assets 2013: $1,066,574Liabilities 2013: $199,183Net Assets 2013: $867,3912013Assets 2014: $1,099,066Liabilities 2014: $189,886Net Assets 2014: $909,1802014Assets 2015: $1,423,264Liabilities 2015: $1,548,887Net Assets 2015: -$125,6232015Assets 2016: $1,464,065Liabilities 2016: $1,575,949Net Assets 2016: -$111,8842016Assets 2017: $4,107,753Liabilities 2017: $4,697,518Net Assets 2017: -$589,7652017Assets 2018: $4,175,621Liabilities 2018: $5,287,442Net Assets 2018: -$1,111,8212018Assets 2019: $3,481,726Liabilities 2019: $4,199,454Net Assets 2019: -$717,7282019Assets 2020: $3,077,012Liabilities 2020: $4,084,169Net Assets 2020: -$1,007,1572020Assets 2021: $2,475,051Liabilities 2021: $3,868,387Net Assets 2021: -$1,393,3362021Assets 2022: $3,097,442Liabilities 2022: $4,181,638Net Assets 2022: -$1,084,1962022Assets 2023: $3,361,838Liabilities 2023: $4,045,310Net Assets 2023: -$683,4722023Assets 2024: $2,944,121Liabilities 2024: $4,172,429Net Assets 2024: -$1,228,3082024

Highlighted filing

2016

Assets$1,464,065
Liabilities$1,575,949
Net Assets-$111,884
Open 2016 Filing

Operations Trend

Revenue Growth54th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,265,7782010Revenue 2011: $1,715,813Expenses 2011: $1,592,175Net Income 2011: $123,6382011Expenses 2012: $1,832,5122012Revenue 2013: $2,180,023Expenses 2013: $2,085,102Net Income 2013: $94,9212013Revenue 2014: $2,394,731Expenses 2014: $2,352,942Net Income 2014: $41,7892014Revenue 2015: $2,593,808Expenses 2015: $2,513,482Net Income 2015: $80,3262015Revenue 2016: $2,705,440Expenses 2016: $2,691,701Net Income 2016: $13,7392016Revenue 2017: $3,085,510Expenses 2017: $3,563,391Net Income 2017: -$477,8812017Revenue 2018: $3,252,708Expenses 2018: $3,774,764Net Income 2018: -$522,0562018Revenue 2019: $3,444,371Expenses 2019: $3,050,278Net Income 2019: $394,0932019Revenue 2020: $3,758,221Expenses 2020: $4,047,650Net Income 2020: -$289,4292020Revenue 2021: $3,628,425Expenses 2021: $4,014,604Net Income 2021: -$386,1792021Revenue 2022: $5,135,143Expenses 2022: $5,562,745Net Income 2022: -$427,6022022Revenue 2023: $5,795,715Expenses 2023: $5,979,322Net Income 2023: -$183,6072023Revenue 2024: $6,695,853Expenses 2024: $7,240,689Net Income 2024: -$544,8362024

Highlighted filing

2016

Revenue$2,705,440
Expenses$2,691,701
Net Income$13,739
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Mar 30, 2017
Return Version
2015v3.0
Gross Receipts
$2,705,440
Mission and Program Overview

Mission

Isla, a pre-k-6 spanish immersion community, empowers the whole child by nurturing the development of personal growth, strong character, academic excellence, and global vision.

Provide an education, in the English and Spanish languages, to students in grades K-6.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$740,307$766,471▲ $26,164
Accounts Receivable$324,116$334,314▲ $10,198
Land, Buildings, and Equipment, Net$98,050$72,662▼ $25,388
Pd in Cap Srpls Land Bldg Eqp Fund$67,633$59,581▼ $8,052
Prepaid Expenses and Deferred Charges$27,615$20,157▼ $7,458
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-193,256$-171,465▲ $21,791
Total Assets$1,423,264$1,464,065▲ $40,801
Other Assets Total$233,176$270,461▲ $37,285
Liabilities
Other Liabilities$1,338,459$1,381,001▲ $42,542
Accounts Payable and Accrued Expenses$163,584$153,949▼ $9,635
Deferred Revenue$16,427$27,918▲ $11,491
Mortgage Notes Payable Secured by Investment Property$30,417$13,081▼ $17,336
Total Liabilities$1,548,887$1,575,949▲ $27,062
Net Assets / Fund Balance
Total Net Assets Fund Balance$-125,623$-111,884▲ $13,739
Total Liabilities and Net Assets / Fund Balance$1,423,264$1,464,065▲ $40,801

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$72,662$249,767$322,429
Leasehold Improvements$0$54,783$54,783
Other Assets Org$270,461--
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Cori AdamsMember/TeacherFT$43,592$43,592
Adriana MaldonadoMember/TeacherFT$41,438$41,438
Kelsie LeonardMember/TeacherFT$28,230$28,230

Board Members and Trustees

NameTitle
Tom SchmidtChair
Landon PiriusVice Chair
Jeremy PerrinAcademy Executive Director
Gina RumoreMember
Heather CoppsMember
Mark MathisonMember
Nora TycastMember
Stephanie SwansonMember
Susan MalaretMember
Brenna BackstrandSecretary
Jared GoodwinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$430,903
Program Service Revenue
$2,274,270
Investment Income
$267
Other Revenue
$0
All Other Contributions
$42,241
Change in Net Assets
$13,739

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,263,060
Revenue Not Reported on Financial Statements
$442,380
Revenue Not Reported on Form 990
$442,380
Other Revenue Adjustments
$442,380
Total Revenue per Audited Statements
$2,705,440
Total Revenue per Form 990
$2,705,440
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,480,448
Other Expenses$1,211,253
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$960,413$73,587-$1,034,000
Occupancy$503,528$8,167-$511,695
Fees for Services Other$184,825$71,050-$255,875
Current Officers, Directors, Trustees, and Key Employees$104,463$50,000-$154,463
Pension Plan Contributions$99,104$14,526-$113,630
Other Employee Benefits$79,329$19,616-$98,945
Payroll Taxes$70,390$9,020-$79,410
Office Expenses$45,394$16,466-$61,860
Depreciation Depletion$57,216--$57,216
Information Technology$52,640--$52,640
Fees for Services Accounting-$36,000-$36,000
Conferences and Meetings$15,923--$15,923
Insurance-$12,895-$12,895
Travel-$10,000-$10,000
Interest-$7,541-$7,541
Other Expenses$4,199--$4,199
All Other Expenses-$2,645-$2,645
Fees for Services Legal-$1,105-$1,105
Total Functional Expenses$2,359,083$332,618$0$2,691,701

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,691,701
Total Expenses per Audited Statements$2,563,017
Expenses per Audited Statements$2,249,321
Expenses Not Reported on Financial Statements$442,380
Other Expense Adjustments$442,380
Expenses Not Reported on Form 990$313,696
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
Net Pension Liability-TRA$890,782
Net Pension Liability-PERA$331,682
Pension Plan Deferments$158,537
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
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 11

“The form 990 is prepared by an independent accounting firm. Once the form is completed, it is given to the Executive Director and the Finance Committee for review before it is signed and filed. The entire board does not review the 990 before its filed.”

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

“Board members sign a conflict of interest statement annually. The Board also reviews the conflict of interest policy annually and makes changes as necessary.”

Form 990, Part VI, Section B, line 15

“The School Board does an annual evaluation of the Executive Director and determines the compensation. The Executive Director evaluates employees and makes recommendations to the School Board. The Board bases its compensation on the knowledge of the budget.”

Form 990, Part VI, Section C, line 19

“The organization makes it governing documents available online. The conflict of interest policy and financial statements are available to the public upon request.”

Form 990, Part VI, Section A, Line 1B

“Two members of the Board are teachers at the Academy. Minnesota State Statute 124D.10 subd. 4(g) requires the Board to have at least one employed or contracted teacher.”

Filing and Contact Details

Filer

Filer Name
International Spanish Language Academy
EIN
01-0872726
Phone
9527466020
Address
5959 Shady Oak Road S, Minnetonka, MN 55343-8969

Signing Officer

Name
Karen Terhaar
Title
Executive Director
Phone
9527466020
Signed
2017-03-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeremy Perrin
Formed
2006
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
10
Employees
47
Volunteers
105

Preparer

Firm
Malloy Montague Karnowski Radosevich
Address
5353 Wayzata Blvd Suite 410, Minneapolis, MN 55416
Preparer
Thomas A Karnowski
Phone
9525450424
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C

“The Academy's Board assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant annually. This process has not changed from the prior year.”

Authorizer

“The Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. The Academy's approved Authorizer during the fiscal year 2016 was Innovative Quality Schools.”

Related Organization Compensation

“Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no transactions noted.”

Financial Statement Notes

Part X, Line 2:

“The Academy is exempt from income taxes under Internal Revenue Service Code section 501(c)(3). The Academy is subject to tax on income from any unrelated business. The Academy is subject to the recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) Accounting Standards Codification 740-10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes). Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The Academy has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdiction where they operate. The Academy believes that income tax filing positions will be sustained upon examination and do not anticipate any adjustments that would result in a material adverse effect on their respective financial condition, results of operation, or cash flows. Accordingly, the Academy has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2016.”

Part XI, Line 2D - Other Adjustments:

“Revenues reported by ISLA ABC 442,380.”

Part XI, Line 4B - Other Adjustments:

“Rent from ISLA ABC 442,380.”

Part XII, Line 2D - Other Adjustments:

“Expenses reported by ISLA ABC 313,696.”

Part XII, Line 4B - Other Adjustments:

“Rent paid by ISLA ABC 442,380.”

Raw XML AppendixShowing 400 of 529 raw XML fields

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IRS990/Form990PartVIISectionAGrp/TitleTxt3Member
IRS990/Form990PartVIISectionAGrp/TitleTxt4Member/Teacher
IRS990/Form990PartVIISectionAGrp/TitleTxt5Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt7Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt8Member
IRS990/Form990PartVIISectionAGrp/TitleTxt9Member
IRS990/Form990PartVIISectionAGrp/TitleTxt10Member/Teacher
IRS990/Form990PartVIISectionAGrp/TitleTxt11Member
IRS990/Form990PartVIISectionAGrp/TitleTxt12Member/Teacher
IRS990/Form990PartVIISectionAGrp/TitleTxt13Academy Executive Director
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr02006
IRS990/FormerOfcrEmployeesListedInd00
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt013
IRS990/GovernmentGrantsAmt0388662
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt02705440
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt010
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt052640
IRS990/InformationTechnologyGrp/TotalAmt052640
IRS990/InsuranceGrp/ManagementAndGeneralAmt012895
IRS990/InsuranceGrp/TotalAmt012895
IRS990/InterestGrp/ManagementAndGeneralAmt07541
IRS990/InterestGrp/TotalAmt07541
IRS990/InvestmentIncomeGrp/ExclusionAmt0267
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0267
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt09
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt072662
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IRS990/LegalDomicileStateCd0MN
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0Operate a public elementary school that immerses students in the Spanish language and with a rigorous academic program designed to promote strong character, personal growth, academic excellence, and global vision.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt030417
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt013081
IRS990/NetAssetsOrFundBalancesBOYAmt0-125623
IRS990/NetAssetsOrFundBalancesEOYAmt0-111884
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt08167
IRS990/OccupancyGrp/ProgramServicesAmt0503528
IRS990/OccupancyGrp/TotalAmt0511695
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt016466
IRS990/OfficeExpensesGrp/ProgramServicesAmt045394
IRS990/OfficeExpensesGrp/TotalAmt061860
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0233176
IRS990/OtherAssetsTotalGrp/EOYAmt0270461
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt019616
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt079329
IRS990/OtherEmployeeBenefitsGrp/TotalAmt098945
IRS990/OtherExpensesGrp/Desc0Food
IRS990/OtherExpensesGrp/Desc1Janitor, snow/lawn, mai
IRS990/OtherExpensesGrp/Desc2Field Trips
IRS990/OtherExpensesGrp/Desc3Transportation
IRS990/OtherExpensesGrp/ProgramServicesAmt086409
IRS990/OtherExpensesGrp/ProgramServicesAmt184042
IRS990/OtherExpensesGrp/ProgramServicesAmt211208
IRS990/OtherExpensesGrp/ProgramServicesAmt34199
IRS990/OtherExpensesGrp/TotalAmt086409
IRS990/OtherExpensesGrp/TotalAmt184042
IRS990/OtherExpensesGrp/TotalAmt211208
IRS990/OtherExpensesGrp/TotalAmt34199
IRS990/OtherLiabilitiesGrp/BOYAmt01338459
IRS990/OtherLiabilitiesGrp/EOYAmt01381001
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt073587
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0960413
IRS990/OtherSalariesAndWagesGrp/TotalAmt01034000
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt09020
IRS990/PayrollTaxesGrp/ProgramServicesAmt070390
IRS990/PayrollTaxesGrp/TotalAmt079410
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt067633
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt059581
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt014526
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt099104
IRS990/PensionPlanContributionsGrp/TotalAmt0113630
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt027615
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt020157
IRS990/PrincipalOfficerNm0Jeremy Perrin
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0Federal and State Sour
IRS990/ProgramServiceRevenueGrp/Desc1Other Educational Purp
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02129705
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1144565
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02129705
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1144565
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0350184
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0158
IRS990/PYOtherExpensesAmt01138199
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt02243466
IRS990/PYRevenuesLessExpensesAmt080326
IRS990/PYSalariesCompEmpBnftPaidAmt01375283
IRS990/PYTotalExpensesAmt02513482
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02593808
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt013739
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02274270
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt072662
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0249767
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0322429
IRS990ScheduleD/ExpensesNotReportedAmt0313696
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0442380
IRS990ScheduleD/ExpensesSubtotalAmt02249321
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt054783
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt054783
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0270461
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Pension Plan Deferments-PERA and TRA
IRS990ScheduleD/OtherExpensesIncludedAmt0313696
IRS990ScheduleD/OtherExpensesNotIncludedAmt0442380
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0158537
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1331682
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2890782
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Pension Plan Deferments
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Net Pension Liability-PERA
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net Pension Liability-TRA
IRS990ScheduleD/OtherRevenueAmt0442380
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0442380
IRS990ScheduleD/RevenueNotReportedAmt0442380
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0442380
IRS990ScheduleD/RevenueSubtotalAmt02263060
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Academy is exempt from income taxes under Internal Revenue Service Code section 501(c)(3). The Academy is subject to tax on income from any unrelated business. The Academy is subject to the recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) Accounting Standards Codification 740-10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes). Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The Academy has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdiction where they operate. The Academy believes that income tax filing positions will be sustained upon examination and do not anticipate any adjustments that would result in a material adverse effect on their respective financial condition, results of operation, or cash flows. Accordingly, the Academy has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2016.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Revenues reported by ISLA ABC 442,380.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Rent from ISLA ABC 442,380.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Expenses reported by ISLA ABC 313,696.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4Rent paid by ISLA ABC 442,380.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XI, Line 4b - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt072662
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0270461
IRS990ScheduleD/TotalExpensesPerForm990Amt02691701
IRS990ScheduleD/TotalLiabilityAmt01381001
IRS990ScheduleD/TotalRevenuePerForm990Amt02705440
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02705440
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02563017
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0All policies are available to the public by request and are provided to all prospective families and students.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The Academy receives state and federal aid to provide an education to students.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The form 990 is prepared by an independent accounting firm. Once the form is completed, it is given to the Executive Director and the Finance Committee for review before it is signed and filed. The entire board does not review the 990 before its filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members sign a conflict of interest statement annually. The Board also reviews the conflict of interest policy annually and makes changes as necessary.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The School Board does an annual evaluation of the Executive Director and determines the compensation. The Executive Director evaluates employees and makes recommendations to the School Board. The Board bases its compensation on the knowledge of the budget.

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,464,065
Liabilities
$1,575,949
Net assets
-$111,884
Revenue
$2,705,440
Expenses
$2,691,701
Net income
$13,739
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.94$4.17$1.23$6.70$7.24$0.54
2023Detailed filing. Detailed filing data is available for this year.$3.36$4.05$0.68$5.80$5.98$0.18
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.10$4.18$1.08$5.14$5.56$0.43
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.48$3.87$1.39$3.63$4.01$0.39
2020Detailed filing. Detailed filing data is available for this year.$3.08$4.08$1.01$3.76$4.05$0.29
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.48$4.20$0.72$3.44$3.05$0.39
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.18$5.29$1.11$3.25$3.77$0.52
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.11$4.70$0.59$3.09$3.56$0.48
2016Detailed filing. Detailed filing data is available for this year.$1.46$1.58$0.11$2.71$2.69$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.42$1.55$0.13$2.59$2.51$0.08
2014Detailed filing. Detailed filing data is available for this year.$1.10$0.19$0.91$2.39$2.35$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.07$0.20$0.87$2.18$2.09$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$0.28$0.77$1.83
2011Summary only. Only limited summary data is available for this year.$0.55$0.05$0.50$1.72$1.59$0.12
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.40$0.03$0.37$1.27