Civic Intelligence

The Island School Foundation Inc

EIN 90-0475575 • 501(c)3 • Boca Grande, FL

Profile

The island school foundation is dedicated to the advancement of education of boca grande, florida. Supporting community residents and workers employed by local businesses, and strives to create an endowment that will help fund the school's operation in perpetuity. In addition, the foundation strives to support other educational programs benefiting residents.

PO Box 1505Boca Grande, FL 33921

islandschoolbocagrande.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

9th percentile

0.00x

Higher debt load relative to revenue than 9% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Net Margin

86th percentile

42%

Higher net margin than 86% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

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

501(c)3 • $10M-$25M nonprofits • Source year 2025

Asset Growth

69th percentile

11%

Faster asset growth than 69% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

11th percentile

-24%

Faster revenue growth than 11% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$11,884,572

Up $1,137,026 (+11%) from 2024

Liabilities

Up

$4,000

Up $2,387 (+148%) from 2024

Net Assets

Up

$11,880,572

Up $1,134,639 (+11%) from 2024

Operations
Liabilities / Revenue9th percentileNet Margin86th percentile

Revenue

Down

$818,876

Down $261,350 (-24%) from 2024

Expenses

Up

$475,320

Up $26,468 (+5.9%) from 2024

Net Income

Down

$343,556

Down $287,818 (-46%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth69th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2011: $3,583,115Liabilities 2011: $34Net Assets 2011: $3,583,0812011Assets 2012: $3,596,142Liabilities 2012: $510Net Assets 2012: $3,595,6322012Assets 2013: $3,854,503Liabilities 2013: $10,510Net Assets 2013: $3,843,9932013Assets 2014: $5,265,482Liabilities 2014: $550Net Assets 2014: $5,264,9322014Assets 2015: $5,911,040Liabilities 2015: $31,476Net Assets 2015: $5,879,5642015Assets 2016: $6,008,805Liabilities 2016: $31,475Net Assets 2016: $5,977,3302016Assets 2017: $7,174,690Liabilities 2017: $473Net Assets 2017: $7,174,2172017Assets 2018: $7,902,146Liabilities 2018: $475Net Assets 2018: $7,901,6712018Assets 2019: $8,251,320Liabilities 2019: $474Net Assets 2019: $8,250,8462019Assets 2020: $8,525,918Liabilities 2020: $1,156Net Assets 2020: $8,524,7622020Assets 2021: $10,810,391Liabilities 2021: $1,286Net Assets 2021: $10,809,1052021Assets 2022: $8,938,826Liabilities 2022: $1,713Net Assets 2022: $8,937,1132022Assets 2023: $9,577,411Liabilities 2023: $2,584Net Assets 2023: $9,574,8272023Assets 2024: $10,747,546Liabilities 2024: $1,613Net Assets 2024: $10,745,9332024Assets 2025: $11,884,572Liabilities 2025: $4,000Net Assets 2025: $11,880,5722025

Highlighted filing

2025

Assets$11,884,572
Liabilities$4,000
Net Assets$11,880,572
Open 2025 Filing

Operations Trend

Revenue Growth11th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $1,060,309Expenses 2011: $20,365Net Income 2011: $1,039,9442011Revenue 2012: $215,581Expenses 2012: $136,394Net Income 2012: $79,1872012Revenue 2013: $240,780Expenses 2013: $175,502Net Income 2013: $65,2782013Revenue 2014: $1,146,671Expenses 2014: $199,069Net Income 2014: $947,6022014Revenue 2015: $1,227,231Expenses 2015: $463,019Net Income 2015: $764,2122015Revenue 2016: $568,693Expenses 2016: $282,337Net Income 2016: $286,3562016Revenue 2017: $1,115,557Expenses 2017: $410,934Net Income 2017: $704,6232017Revenue 2018: $870,388Expenses 2018: $302,826Net Income 2018: $567,5622018Revenue 2019: $875,614Expenses 2019: $288,560Net Income 2019: $587,0542019Revenue 2020: $778,628Expenses 2020: $375,398Net Income 2020: $403,2302020Revenue 2021: $1,155,465Expenses 2021: $377,761Net Income 2021: $777,7042021Revenue 2022: $551,779Expenses 2022: $475,584Net Income 2022: $76,1952022Revenue 2023: $492,332Expenses 2023: $498,724Net Income 2023: -$6,3922023Revenue 2024: $1,080,226Expenses 2024: $448,852Net Income 2024: $631,3742024Revenue 2025: $818,876Expenses 2025: $475,320Net Income 2025: $343,5562025

Highlighted filing

2025

Revenue$818,876
Expenses$475,320
Net Income$343,556
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,884,572
Liabilities
$4,000
Net assets
$11,880,572
Revenue
$818,876
Expenses
$475,320
Net income
$343,556
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$11.9$0.00$11.9$0.82$0.48$0.34
2024Detailed filing. Detailed filing data is available for this year.$10.7$0.00$10.7$1.08$0.45$0.63
2023Detailed filing. Detailed filing data is available for this year.$9.58$0.00$9.57$0.49$0.50$0.01
2022Detailed filing. Detailed filing data is available for this year.$8.94$0.00$8.94$0.55$0.48$0.08
2021Detailed filing. Detailed filing data is available for this year.$10.8$0.00$10.8$1.16$0.38$0.78
2020Detailed filing. Detailed filing data is available for this year.$8.53$0.00$8.52$0.78$0.38$0.40
2019Detailed filing. Detailed filing data is available for this year.$8.25$0.00$8.25$0.88$0.29$0.59
2018Detailed filing. Detailed filing data is available for this year.$7.90$0.00$7.90$0.87$0.30$0.57
2017Detailed filing. Detailed filing data is available for this year.$7.17$0.00$7.17$1.12$0.41$0.70
2016Detailed filing. Detailed filing data is available for this year.$6.01$0.03$5.98$0.57$0.28$0.29
2015Detailed filing. Detailed filing data is available for this year.$5.91$0.03$5.88$1.23$0.46$0.76
2014Detailed filing. Detailed filing data is available for this year.$5.27$0.00$5.26$1.15$0.20$0.95
2013Summary only. Only limited summary data is available for this year.$3.85$0.01$3.84$0.24$0.18$0.07
2012Summary only. Only limited summary data is available for this year.$3.60$0.00$3.60$0.22$0.14$0.08
2011Summary only. Only limited summary data is available for this year.$3.58$0.00$3.58$1.06$0.02$1.04
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Dec 26, 2025
Return Version
2024v5.2
Gross Receipts
$2,890,973
Mission and Program Overview

Mission

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,721,529$11,862,930▲ $1,141,401
Accounts Receivable$12,487$13,041▲ $554
Cash and Non-Interest-Bearing Accounts$8,797$5,011▼ $3,786
Pledges and Grants Receivable$2,739$1,891▼ $848
Land, Buildings, and Equipment, Net$1,410$1,091▼ $319
Prepaid Expenses and Deferred Charges$584$608▲ $24
Total Assets$10,747,546$11,884,572▲ $1,137,026
Liabilities
Other Liabilities-$4,000-
Accounts Payable and Accrued Expenses$1,613--
Total Liabilities$1,613$4,000▲ $2,387
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,745,933$11,880,572▲ $1,134,639
Total Net Assets Fund Balance$10,745,933$11,880,572▲ $1,134,639
Total Liabilities and Net Assets / Fund Balance$10,747,546$11,884,572▲ $1,137,026

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,091$7,837-
Compensation and Service Providers
Top Officer Pay15th percentile

Board Members and Trustees

NameTitle
Mary JohnstonChair
Rick GanongVice Chair
Anne PooleTrustee
Brent CrossTrustee
Brian HoganTrustee
Chris KellerTrustee
Harry HaddadTrustee
Joe SimanTrustee
Kathy GreggTrustee
Mary KountzeTrustee
Pierce WalmsleyTrustee
Edward WilsonSecretary
Louis SarkesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$247,503
Program Service Revenue
$0
Investment Income
$571,373
Other Revenue
$0
All Other Contributions
$247,503
Change in Net Assets
$343,556

Audited Revenue Reconciliation

Revenue per Audited Statements
$767,761
Revenue Not Reported on Financial Statements
$51,115
Revenue Not Reported on Form 990
$842,198
Total Revenue per Audited Statements
$1,609,959
Total Revenue per Form 990
$818,876
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$454,000
Other Expenses$21,320
Total Fundraising Expense$574
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$454,000--$454,000
Fees for Services Accounting$0$14,748$0$14,748
Office Expenses$0$4,028$574$4,602
Insurance$0$1,651$0$1,651
Depreciation Depletion$0$319$0$319
Total Functional Expenses$454,000$20,746$574$475,320

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$475,320
Total Expenses per Audited Statements$475,320
Total Expenses per Form 990$475,320
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Island SchoolBoca Grande, FL501c3School Activities$450,000
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
Contributions Payable$4,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
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
Filing and Contact Details

Filer

Filer Name
The Island School Foundation Inc
EIN
90-0475575
Phone
9419648016
Address
PO Box 1505, Boca Grande, FL 33921

Signing Officer

Name
Louis Sarkes
Title
Treasurer
Phone
9419648016
Signed
2025-12-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Louis Sarkes
Formed
2009
Legal Domicile
Fl
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
0

Preparer

Firm
Lengemann & Associates P C
Address
1410 GOLD COAST ROAD STE 600, PAPILLION, NE 68046
Preparer
Randy Hood
Phone
4025921236
Supplemental Narrative

Additional Explanations

Other

“Form 990 - Organizations Mission”

Other

“The Island School Foundation is dedicated to the advancement of education of Boca Grande, Florida. Supporting community residents and workers employed by local businesses, and strives to create an endowment that will help fund the schools operation in perpetuity. In addition, the foundation strives to support other educational programs benefiting residents.”

Other

“Form 990, Part III, Line 4d - All Other Accomplishments”

Other

“The Island School Foundation is dedicated to the advancement of education of Boca Grande, Florida. Supporting community residents and workers employed by local businesses, and strives to create an endowment that will help fund the schools operation in perpetuity. In addition, the foundation strives to support other educational programs benefiting residents.”

Pt VI, Line 11B

“Organizations Process to Review Form 990”

Other

“Board Members review and approve Form 990 before submition”

Pt VI, Line 12C

“Enforcement of Conflicts Policy”

Other

“During the first meeting following the annual meeting, Officers and Trustees are required to review the conflict of interest and sign a statement stating that they have received a copy of the conflict of interest policy, have read and understand the policy, and have agreed to comply with the policy.”

Pt VI, Line 19

“Governing Documents Diclosure Explanation”

Other

“Documents available upon request”

Financial Statement Notes

Pt X, Line 2

“Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Foundation and recognize a tax liability (or asset) if the Foundation has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The Foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations for years prior to 2022. The Foundations policy is to include penalties and interest associated with income tax expense and interest expense respectively. The Foundation did not incur any penalties or interest on income taxes for the periods being reported.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Foundation and recognize a tax liability (or asset) if the Foundation has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The Foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations for years prior to 2022. The Foundations policy is to include penalties and interest associated with income tax expense and interest expense respectively. The Foundation did not incur any penalties or interest on income taxes for the periods being reported.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt X, Line 2
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501c3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0School Activities
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0The Island School
IRS990ScheduleI/RecipientTable/RecipientEIN0651008401
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 1505
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Boca Grande
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 - Organizations Mission
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Island School Foundation is dedicated to the advancement of education of Boca Grande, Florida. Supporting community residents and workers employed by local businesses, and strives to create an endowment that will help fund the schools operation in perpetuity. In addition, the foundation strives to support other educational programs benefiting residents.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990, Part III, Line 4d - All Other Accomplishments
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Island School Foundation is dedicated to the advancement of education of Boca Grande, Florida. Supporting community residents and workers employed by local businesses, and strives to create an endowment that will help fund the schools operation in perpetuity. In addition, the foundation strives to support other educational programs benefiting residents.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Organizations Process to Review Form 990
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Board Members review and approve Form 990 before submition
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Enforcement of Conflicts Policy
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7During the first meeting following the annual meeting, Officers and Trustees are required to review the conflict of interest and sign a statement stating that they have received a copy of the conflict of interest policy, have read and understand the policy, and have agreed to comply with the policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Governing Documents Diclosure Explanation
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Documents available upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Other
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Other
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Other
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Other
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0The Island School Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0651008401
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
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