Island Academy Inc
- Assets
- $5.6m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Roswell, GA
- Founding
- 11/2002
- Data as of
- 07/2024
- EIN
- 98-0379620
Organization Overview
Island Academy Inc is located in Roswell, GA. The organization was established in 2002. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Island Academy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 07/2024, Island Academy Inc generated $3.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $2.7m during the year ending 07/2024. While expenses have increased by 8.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO OFFER A WORLD-CLASS EDUCATION THAT WILL ENABLE OUR DIVERSE COMMUNITY OF MORE THAN 300 K-13 STUDENTS TO FUNCTION SUCCESSFULLY, BOTH ACADEMICALLY AND SOCIALLY, IN THE GLOBAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEACHER PAYROLL AND RELATED PERSONNEL EXPENSES REVENUE FROM TUITION PRIMARY AND SECONDARY SCHOOLS (K-12)WITH AN INTERNATIONAL BACCALAUREATE PROGRAM. OVER 290 STUDENTS, FROM OVER 20 DIFFERENT NATIONS AND 12 DIFFERENT LANGUAGES, FROM VARYING SOCIO-ECONOMIC BACKGROUNDS.
PRIMARY AND SECONDARY EDUCATION (K-13) WITH IB PROGRAM.
INSTRUCTIONAL COSTS, INCLUDING EXAM FEES, IBO FEES AND TRAINING, MUSIC AND DRAMA PRODUCTION COSTS FOR SCHOOL SHOWS, PRINTING AND REPRODUCTION, PROFESSIONAL DEVELOPMENT FOR INSTRUCTIONAL STAFF, SCHOOL PROGRAMS AND SUPPIES.
FINANCIAL AID AND MULTI-STUDENT AND STAFF DISCOUNTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bernadette Sherman Chairperson | Trustee | 14 | $0 |
Susan Lowes Trustee | Trustee | 1 | $0 |
Norma Holder Chairperson | Trustee | 1 | $0 |
Sharon Cort-Thibou Trustee | Trustee | 1 | $0 |
Anne Hamilton Trustee | Trustee | 1 | $0 |
Patti Schear Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,130,167 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,130,167 |
| Total Program Service Revenue | $2,242,016 |
| Investment income | $327 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,372,510 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,079,269 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $95,826 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,880 |
| Fees for services: Accounting | $12,561 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $51,470 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $654,928 |
| Total functional expenses | $2,691,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $421,248 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,233 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $154,690 |
| Prepaid expenses and deferred charges | $116,151 |
| Net Land, buildings, and equipment | $4,843,848 |
| Investments—publicly traded securities | $10,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$17,244 |
| Total assets | $5,567,926 |
| Accounts payable and accrued expenses | $56,439 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $221,296 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,913 |
| Total liabilities | $293,648 |
| Net assets without donor restrictions | $5,274,278 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,567,926 |