Civic Intelligence

International Spanish Language Academy

990 • Fiscal year 2020 • EIN 01-0872726

Jul 01, 2019 to Jun 30, 2020 • Filed on May 14, 2021

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

(952) 746-6020

Siviq Scores

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

Liabilities / Assets

96th percentile

1.33x

Higher debt load relative to assets than 96% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

86th percentile

1.09x

Higher debt load relative to revenue than 86% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

25th percentile

-7.7%

Higher net margin than 25% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

50th percentile

$59,572

Higher top officer pay than 50% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

8th percentile

-12%

Faster asset growth than 8% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

64th percentile

9.1%

Faster revenue growth than 64% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$3,077,012

Down $404,714 (-12%) from 2019

Net Assets

Down

-$1,007,157

Down $289,429 (-40%) from 2019

Liabilities

Down

$4,084,169

Down $115,285 (-2.7%) from 2019

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin25th percentile

Revenue

Up

$3,758,221

Up $313,850 (+9.1%) from 2019

Expenses

Up

$4,047,650

Up $997,372 (+33%) from 2019

Net Income

Down

-$289,429

Down $683,522 (-173%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth8th 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

2020

Assets$3,077,012
Liabilities$4,084,169
Net Assets-$1,007,157
Open 2020 Filing

Operations Trend

Revenue Growth64th 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

2020

Revenue$3,758,221
Expenses$4,047,650
Net Income-$289,429
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 14, 2021
Return Version
2019v5.2
Gross Receipts
$3,758,221
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$1,043,551$778,404▼ $265,147
Accounts Receivable$175,189$410,492▲ $235,303
Land, Buildings, and Equipment, Net$105,458$88,044▼ $17,414
Pd in Cap Srpls Land Bldg Eqp Fund$105,458$88,044▼ $17,414
Prepaid Expenses and Deferred Charges$64,388$30,322▼ $34,066
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-823,186$-1,095,201▼ $272,015
Total Assets$3,481,726$3,077,012▼ $404,714
Other Assets Total$2,093,140$1,769,750▼ $323,390
Liabilities
Other Liabilities$3,906,386$3,825,073▼ $81,313
Accounts Payable and Accrued Expenses$249,143$236,313▼ $12,830
Mortgage Notes Payable Secured by Investment Property-$22,500-
Deferred Revenue$43,925$283▼ $43,642
Total Liabilities$4,199,454$4,084,169▼ $115,285
Net Assets / Fund Balance
Total Net Assets Fund Balance$-717,728$-1,007,157▼ $289,429
Total Liabilities and Net Assets / Fund Balance$3,481,726$3,077,012▼ $404,714

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$88,044$377,210$465,254
Leasehold Improvements$0$54,783$54,783
Other Assets Org$1,769,750--
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Estela AlfaroMember/TeacherFT$59,572$59,572
Riana DilleyMember/TeacherFT$48,064$48,064

Board Members and Trustees

NameTitle
Jared GoodwinChair
Liz CrouseVice Chair
Andres TapernouxMember
Dan TixMember
Jaiah KamaraMember
Jennifer McCormackMember
Martin HoffMember
Mary Jo De VillersMember
Sarah MarkusMember
Kristina TaylorSecretary
Jody JohnsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$508,137
Program Service Revenue
$3,247,577
Investment Income
$2,507
Other Revenue
$0
All Other Contributions
$30,730
Change in Net Assets
$-289,429

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,265,713
Revenue Not Reported on Financial Statements
$492,508
Revenue Not Reported on Form 990
$497,558
Other Revenue Adjustments
$492,508
Total Revenue per Audited Statements
$3,763,271
Total Revenue per Form 990
$3,758,221
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,314,860
Other Expenses$1,732,790
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,454,199$103,040-$1,557,239
Occupancy$580,790$2,457-$583,247
Fees for Services Other$254,907$54,973-$309,880
Office Expenses$272,585$8,619-$281,204
Other Employee Benefits$191,487$42,977-$234,464
Current Officers, Directors, Trustees, and Key Employees$114,760$118,680-$233,440
Pension Plan Contributions$137,925$18,197-$156,122
Payroll Taxes$117,942$15,653-$133,595
Information Technology$49,077$9,788-$58,865
Other Expenses$53,905--$53,905
Fees for Services Accounting-$39,000-$39,000
All Other Expenses$8,351$28,168-$36,519
Conferences and Meetings$17,827--$17,827
Payments to Affiliates$9,321--$9,321
Fees for Services Legal-$4,455-$4,455
Total Functional Expenses$3,601,643$446,007$0$4,047,650

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,047,650
Total Expenses per Audited Statements$3,896,907
Expenses per Audited Statements$3,555,142
Expenses Not Reported on Financial Statements$492,508
Other Expense Adjustments$492,508
Expenses Not Reported on Form 990$341,765
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
Pension plan deferments$1,919,740
Net pension liabilities - PERA and TRA$1,905,333
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 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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“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, Minnetonka, MN 55343-8969

Signing Officer

Name
Jeremy Perrin
Title
Executive Director
Phone
9527466020
Signed
2021-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeremy Perrin
Formed
2006
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
11
Employees
51
Volunteers
95

Preparer

Firm
Malloy Montague Karnowski Radosevich
Address
5353 Wayzata Blvd Ste 410, Minneapolis, MN 55416
Preparer
Victoria L Holinka
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 auditor 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 2020 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:

“International Spanish Language Academy (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 Accounting Standards Codification 740-10. 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, 2020. The Academy is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods.”

Part XI, Line 2D - Other Adjustments:

“Revenues reported by ISLA Affiliated Building Company 497,558.”

Part XI, Line 4B - Other Adjustments:

“Rent from ISLA ABC 492,508.”

Part XII, Line 2D - Other Adjustments:

“Expenses reported by ISLA Affiliated Building Company 341,765.”

Part XII, Line 4B - Other Adjustments:

“Rent paid by ISLA ABC 492,508.”

Raw XML AppendixShowing 400 of 518 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt12Chair
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IRS990/FormationYr02006
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
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IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt03758221
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
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IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
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IRS990/InfoInScheduleOPartXIIInd0X
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02507
IRS990/InvestmentInJointVentureInd00
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IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0431993
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0105458
IRS990/LandBldgEquipBasisNetGrp/EOYAmt088044
IRS990/LandBldgEquipCostOrOtherBssAmt0520037
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
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/EOYAmt022500
IRS990/NetAssetsOrFundBalancesBOYAmt0-717728
IRS990/NetAssetsOrFundBalancesEOYAmt0-1007157
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt02457
IRS990/OccupancyGrp/ProgramServicesAmt0580790
IRS990/OccupancyGrp/TotalAmt0583247
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt08619
IRS990/OfficeExpensesGrp/ProgramServicesAmt0272585
IRS990/OfficeExpensesGrp/TotalAmt0281204
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02093140
IRS990/OtherAssetsTotalGrp/EOYAmt01769750
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt042977
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0191487
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0234464
IRS990/OtherExpensesGrp/Desc0Pension expense per act
IRS990/OtherExpensesGrp/Desc1Food
IRS990/OtherExpensesGrp/Desc2Aventuras - indirect co
IRS990/OtherExpensesGrp/Desc3Aventuras - support sal
IRS990/OtherExpensesGrp/ProgramServicesAmt0219299
IRS990/OtherExpensesGrp/ProgramServicesAmt162652
IRS990/OtherExpensesGrp/ProgramServicesAmt256616
IRS990/OtherExpensesGrp/ProgramServicesAmt353905
IRS990/OtherExpensesGrp/TotalAmt0219299
IRS990/OtherExpensesGrp/TotalAmt162652
IRS990/OtherExpensesGrp/TotalAmt256616
IRS990/OtherExpensesGrp/TotalAmt353905
IRS990/OtherLiabilitiesGrp/BOYAmt03906386
IRS990/OtherLiabilitiesGrp/EOYAmt03825073
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0103040
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01454199
IRS990/OtherSalariesAndWagesGrp/TotalAmt01557239
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt09321
IRS990/PaymentsToAffiliatesGrp/TotalAmt09321
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt015653
IRS990/PayrollTaxesGrp/ProgramServicesAmt0117942
IRS990/PayrollTaxesGrp/TotalAmt0133595
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0105458
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt088044
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt018197
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0137925
IRS990/PensionPlanContributionsGrp/TotalAmt0156122
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt064388
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt030322
IRS990/PrincipalOfficerNm0Jeremy Perrin
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0Federal and state sour
IRS990/ProgramServiceRevenueGrp/Desc1Other educational purp
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02939707
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1307870
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02939707
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1307870
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0495236
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt07644
IRS990/PYOtherExpensesAmt0911019
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt02941491
IRS990/PYRevenuesLessExpensesAmt0394093
IRS990/PYSalariesCompEmpBnftPaidAmt02139259
IRS990/PYTotalExpensesAmt03050278
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03444371
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-289429
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt03247577
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt088044
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0377210
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0465254
IRS990ScheduleD/ExpensesNotReportedAmt0341765
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0492508
IRS990ScheduleD/ExpensesSubtotalAmt03555142
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt054783
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt054783
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01769750
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Pension plan deferments - PERA and TRA
IRS990ScheduleD/OtherExpensesIncludedAmt0341765
IRS990ScheduleD/OtherExpensesNotIncludedAmt0492508
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01905333
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11919740
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net pension liabilities - PERA and TRA
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Pension plan deferments
IRS990ScheduleD/OtherRevenueAmt0497558
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0492508
IRS990ScheduleD/RevenueNotReportedAmt0497558
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0492508
IRS990ScheduleD/RevenueSubtotalAmt03265713
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0International Spanish Language Academy (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 Accounting Standards Codification 740-10. 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, 2020. The Academy is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Revenues reported by ISLA Affiliated Building Company 497,558.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Rent from ISLA ABC 492,508.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Expenses reported by ISLA Affiliated Building Company 341,765.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4Rent paid by ISLA ABC 492,508.
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/TotalBookValueLandBuildingsAmt088044
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01769750
IRS990ScheduleD/TotalExpensesPerForm990Amt04047650
IRS990ScheduleD/TotalLiabilityAmt03825073
IRS990ScheduleD/TotalRevenuePerForm990Amt03758221
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03763271
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03896907
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/ExplanationTxt1International Spanish Languate 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization makes it governing documents available online. The conflict of interest policy and financial statements are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Academy's Board assumes responsibility for oversight of the audit of its financial statements and selection of an independent auditor annually. This process has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Two 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The 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 2020 was Innovative Quality Schools.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no transactions noted.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION A, LINE 1B

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,077,012
Liabilities
$4,084,169
Net assets
-$1,007,157
Revenue
$3,758,221
Expenses
$4,047,650
Net income
-$289,429
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