ISLA AFFILIATED BUILDING COMPANY: Form 990, tax year 2019

View the entire original 990 at ProPublica ↗

Organization
ISLA AFFILIATED BUILDING COMPANY (EIN 90-1019537)
Tax period
2019-07-01 to 2020-06-30
Filed
2021-02-09
IRS object ID
202120409349301222
Schema version
2019v5.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2021-02-09T14:03:29-06:00ReturnTs
Tax Period End2020-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN410887288PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BOULAY PLLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line17500 FLYING CLOUD DR-STE 800AddressLine1Txt
CityMINNEAPOLISCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55344ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2019-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN901019537EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ISLA AFFILIATED BUILDING COMPANYBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlISLABusinessNameControlTxt
Phone9527466020PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line15959 SHADY OAK ROADAddressLine1Txt
CityMINNETONKACityNm
State AbbreviationMNStateAbbreviationCd
ZIP55343ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMARIA CISNEROSPersonNm
Person TitleCURRENT BOARD CHAIRPersonTitleTxt
Phone9527466020PhoneNum
Signature2021-01-11SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMATTHEW L CRANEPreparerPersonNm
PTINP01302750PTIN
Phone9528939320PhoneNum
Preparation2021-01-11PreparationDt
FieldValueIRS element (for citing)
Tax2019TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerMARIA CISNEROSPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line15959 SHADY OAK ROADAddressLine1Txt
CityMINNETONKACityNm
State AbbreviationMNStateAbbreviationCd
ZIP55343ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$497,558GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.ISLA-ACADEMY.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2013FormationYr
Legal Domicile StateMNLegalDomicileStateCd
Activity Or MissionTO OWN AND OPERATE A SCHOOL BUILDING AND PROPERTY FOR LEASE BY INTERNATIONAL SPANISH LANGUAGE ACADEMY, A MINNESOTA CHARTER SCHOOL.ActivityOrMissionDesc
Voting Members Governing Body3VotingMembersGoverningBodyCnt
Voting Members Independent3VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$470,124PYProgramServiceRevenueAmt
CY Program Service Revenue$492,508CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$5,050CYOtherRevenueAmt
PY Total Revenue$470,124PYTotalRevenueAmt
CY Total Revenue$497,558CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$355,705PYOtherExpensesAmt
CY Other Expenses$342,667CYOtherExpensesAmt
PY Total Expenses$355,705PYTotalExpensesAmt
CY Total Expenses$342,667CYTotalExpensesAmt
PY Revenues Less Expenses$114,419PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$154,891CYRevenuesLessExpensesAmt
Total Assets BOY$4,428,296TotalAssetsBOYAmt
Total Assets EOY$4,431,080TotalAssetsEOYAmt
Total Liabilities BOY$3,847,258TotalLiabilitiesBOYAmt
Total Liabilities EOY$3,695,151TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$581,038NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$735,929NetAssetsOrFundBalancesEOYAmt
MissionTO OWN AND OPERATE A SCHOOL BUILDING AND PROPERTY FOR LEASE BY INTERNATIONAL SPANISH LANGUAGE ACADEMY, A MINNESOTA CHARTER SCHOOL.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$342,667ExpenseAmt
Revenue$492,508RevenueAmt
DescTO OWN AND OPERATE A SCHOOL BUILDING AND PROPERTY FOR LEASE BY INTERNATIONAL SPANISH LANGUAGE ACADEMY, A MINNESOTA CHARTER SCHOOL.Desc
Total Program Service Expenses$342,667TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document2IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
DAF Excess Business Holdings0DAFExcessBusinessHoldingsInd
Taxable Distributions0TaxableDistributionsInd
Distribution To Donor0DistributionToDonorInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members3GoverningBodyVotingMembersCnt
Independent Voting Member3IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (1)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of Committees0MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldMNStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BOULAY PLLPBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9528939320PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line17500 FLYING CLOUD DRIVE SUITE 800AddressLine1Txt
CityMINNEAPOLISCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55344ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
MARIA CISNEROS
PRESIDENT1.00Yes (X)Yes (X)$0$0$0
TOM SCHMIDT
TREASURER1.00Yes (X)Yes (X)$0$0$0
LEE GREGORY
MEMBER1.00Yes (X)Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescISLA ABC - RENT INCOMEDesc
Business611710BusinessCd
Total Revenue Column$492,508TotalRevenueColumnAmt
Related Or Exempt Func Income$492,508RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$492,508TotalProgramServiceRevenueAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescEASEMENTDesc
Business900099BusinessCd
Total Revenue Column$5,050TotalRevenueColumnAmt
Exclusion$5,050ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$5,050OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$497,558TotalRevenueColumnAmt
Related Or Exempt Func Income$492,508RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$5,050ExclusionAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$15,365TotalAmt
Program Services$15,365ProgramServicesAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$33,225TotalAmt
Program Services$33,225ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$15,802TotalAmt
Program Services$15,802ProgramServicesAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$173,193TotalAmt
Program Services$173,193ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$95,317TotalAmt
Program Services$95,317ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$9,765TotalAmt
Program Services$9,765ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$342,667TotalAmt
Program Services$342,667ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$393,975BOYAmt
EOY$496,520EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$4,624BOYAmt
EOY$0EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
EOY$180EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$4,474,510LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$540,130LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$4,029,697BOYAmt
EOY$3,934,380EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$4,428,296BOYAmt
EOY$4,431,080EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$18,262BOYAmt
EOY$23,616EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$3,828,996BOYAmt
EOY$3,671,535EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$3,847,258BOYAmt
EOY$3,695,151EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$380,337BOYAmt
EOY$473,987EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$200,701BOYAmt
EOY$261,942EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$581,038BOYAmt
EOY$735,929EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$4,428,296BOYAmt
EOY$4,431,080EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$154,891ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Supporting Organization509a3Yes (X)SupportingOrganization509a3Ind
Supporting Org Type1Yes (X)SupportingOrgType1Ind
IRS Written DeterminationYes (X)IRSWrittenDeterminationInd
Supported Organizations1SupportedOrganizationsCnt

Supported Org Information SupportedOrgInformationGrp

Supported Organization Name SupportedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1INTERNATIONAL SPANISH LANGUAGE ACADEMYBusinessNameLine1Txt
FieldValueIRS element (for citing)
EIN010872726EIN
Organization Type2OrganizationTypeCd
Governing Document ListedYes (1)GoverningDocumentListedInd
Support$0SupportAmt
Other Support$0OtherSupportAmt
FieldValueIRS element (for citing)
Supported Organizations Total1SupportedOrganizationsTotalCnt
Support Sum$0SupportSumAmt
Other Support Sum$0OtherSupportSumAmt

Form990 Sch A Supporting Org Form990SchASupportingOrgGrp

FieldValueIRS element (for citing)
Listed By Name Governing DocYes (1)ListedByNameGoverningDocInd
Suprt Org No IRS Determination0SuprtOrgNoIRSDeterminationInd
Supported Org Section C4560SupportedOrgSectionC456Ind
Supported Org Not Organized US0SupportedOrgNotOrganizedUSInd
Organization Change Suprt Org0OrganizationChangeSuprtOrgInd
Support Non Supported Org0SupportNonSupportedOrgInd
Payment Substantial Contribtr0PaymentSubstantialContribtrInd
Loan Disqualified Person0LoanDisqualifiedPersonInd
Controlled Disqualified Prsn0ControlledDisqualifiedPrsnInd
Disqualified Prsn Controll Int0DisqualifiedPrsnControllIntInd
Disqualified Prsn Ownr Int0DisqualifiedPrsnOwnrIntInd
Excess Business Holdings Rules0ExcessBusinessHoldingsRulesInd
Contribution Controller0ContributionControllerInd
Contribution Family0ContributionFamilyInd
Contribution35 Controlled0Contribution35ControlledInd

Form990 Sch A Type1 Suprt Org Form990SchAType1SuprtOrgGrp

FieldValueIRS element (for citing)
Power Appoint Majority Dir TrstYes (1)PowerAppointMajorityDirTrstInd
Operate Benefit Non Suprt Org0OperateBenefitNonSuprtOrgInd

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,615,000OtherCostOrOtherBasisAmt
Book Value$1,615,000BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$2,859,510OtherCostOrOtherBasisAmt
Depreciation$540,130DepreciationAmt
Book Value$2,319,380BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$3,934,380TotalBookValueLandBuildingsAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$3,763,271TotalRevEtcAuditedFinclStmtAmt
Other Revenue$3,758,221OtherRevenueAmt
Revenue Not Reported$3,758,221RevenueNotReportedAmt
Revenue Subtotal$5,050RevenueSubtotalAmt
Other Revenues Not Included$492,508OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt$492,508RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$497,558TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$3,896,906TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included$4,046,747OtherExpensesIncludedAmt
Expenses Not Reported$4,046,747ExpensesNotReportedAmt
Expenses Subtotal-$149,841ExpensesSubtotalAmt
Other Expenses Not Included$492,508OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$492,508ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$342,667TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART X, LINE 2:THE BUILDING COMPANY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE 501(C)(3), AND IS SUBJECT TO TAX ON INCOME FROM ANY UNRELATED BUSINESS. THE BUILDING COMPANY ADOPTED THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX POSITIONS AS REQUIRED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740-10 (FORMERLY KNOWN AS FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES), WITH NO CUMULATIBE EFFECT ADJUSTMENT REQUIRED. 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 BUILDING COMPANY HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND STATE JURISDICTION WHERE THEY OPERATE. THE BUILDING COMPANY BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DO NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN MATERIAL ADVERSE AFFECT ON THEIR RESPECTIVE FINANCIAL CONDITION, RESULTS OF OPERATION, OR CASH FLOWS. ACCORDINGLY, THE BUILDING COMPANY HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2020.
PART XI, LINE 2D - OTHER ADJUSTMENTS:REVENUE REPORTED BY ISLA 3,758,221.
PART XI, LINE 4B - OTHER ADJUSTMENTS:RENT RECEIVED FROM ISLA 492,508.
PART XII, LINE 2D - OTHER ADJUSTMENTS:EXPENSES REPORTED BY ISLA 4,046,747.
PART XII, LINE 4B - OTHER ADJUSTMENTS:RENT PAID BY ISLA 492,508.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6THE SOLE MEMEBER OF THE BUILDING COMPANY IS INTERNATIONAL SPANISH LANGUAGE ACADEMY.
FORM 990, PART VI, SECTION A, LINE 7ATHE SOLE MEMBER OF THE BUILDING COMANY IS INTERNATIONAL SPANISH LANGUAGE ACADEMY. THE SOLE MEMBER CAN REMOVE OR APPOINT DIRECTORS.
FORM 990, PART VI, SECTION A, LINE 7BTHE SOLE MEMBER CAN REMOVE OR APPOINT DIRECTORS.
FORM 990, PART VI, SECTION A, LINE 8BTHE AFFILIATED BUILDING COMPANY DOES NOT HAVE ANY COMMITTEES WITH AUTORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
FORM 990, PART VI, SECTION B, LINE 11BTHE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. ONCE THE FORM IS COMPLETED, THE BOARD OF DIRECTORS REVIEWS IT BEFORE IT IS SIGNED BY THE PRESIDENT.
FORM 990, PART VI, SECTION B, LINE 12CEACH DIRECTOR ANNUALLY SIGNS A STATEMENTS WHICH AFFIRMS THAT SUCH PERSON (A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, (B) HAS READ AND UNDERSTANDS THE POLICY, (C) HAS AGREED TO COMPLY WITH THE POLICY, AND (D) UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES.
FORM 990, PART VI, SECTION C, LINE 19THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART XII, LINE 2CTHE 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.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1INTERNATIONAL SPANISH LANGUAGE ACADEMYBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line15959 SHADY OAK ROADAddressLine1Txt
CityMINNETONKACityNm
State AbbreviationMNStateAbbreviationCd
ZIP55343ZIPCd
FieldValueIRS element (for citing)
EIN010872726EIN
Primary ActivitiesEDUCATION SERVICESPrimaryActivitiesTxt
Legal Domicile StateMNLegalDomicileStateCd
Exempt Code Section501(C)(3)ExemptCodeSectionTxt
Public Charity StatusLINE 2PublicCharityStatusTxt
Direct Controlling NAN/ADirectControllingNACd
Controlled Organization0ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth OrgYes (1)RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of FacilitiesYes (1)SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp

Other Organization Name OtherOrganizationName

FieldValueIRS element (for citing)
Business Name Line1INTERNATIONAL SPANISH LANGUAGE ACADEMYBusinessNameLine1Txt
FieldValueIRS element (for citing)
Transaction TypeJTransactionTypeTxt
Involved$492,508InvolvedAmt
Method Of Amount DeterminationLEASE AGREEMENTMethodOfAmountDeterminationTxt

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.