ISLA AFFILIATED BUILDING COMPANY: Form 990, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
ISLA AFFILIATED BUILDING COMPANY (EIN 90-1019537)
Tax period
2017-07-01 to 2018-06-30
Filed
2019-05-17
IRS object ID
201911379349300816
Schema version
2017v2.3
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)
Return2019-05-17T11:10:45-05:00ReturnTs
Tax Period End2018-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN411690382PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Malloy Montague Karnowski RadosevichBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line15353 Wayzata Blvd Ste 410AddressLine1Txt
CityMinneapolisCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55416ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2017-07-01TaxPeriodBeginDt

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 Road SouthAddressLine1Txt
CityMinnetonkaCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55343ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMaria CisnerosPersonNm
Person TitleCurrent Board ChairPersonTitleTxt
Phone6128016572PhoneNum
Signature2019-05-17SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonThomas A KarnowskiPreparerPersonNm
PTINP00148364PTIN
Phone9525450424PhoneNum

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address174.141.196.58IPv4AddressTxt
FieldValueIRS element (for citing)
IP2019-05-17IPDt
IP Tm10:40:23IPTm
IP TimezoneCDIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id827F9987C2616201840EC608C8F144592BB8522AAtSubmissionCreationDeviceId
At Submission Filing Device IdBF4D7B5D5DA3882B398E8E353D5D6C9C75DB51EAAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2019-02-21 02:37:17ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerMaria CisnerosPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line15959 Shady Oak Road SouthAddressLine1Txt
CityMinnetonkaCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55343ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$494,099GrossReceiptsAmt
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$462,816PYProgramServiceRevenueAmt
CY Program Service Revenue$494,099CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$462,816PYTotalRevenueAmt
CY Total Revenue$494,099CYTotalRevenueAmt
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$349,378PYOtherExpensesAmt
CY Other Expenses$336,959CYOtherExpensesAmt
PY Total Expenses$349,378PYTotalExpensesAmt
CY Total Expenses$336,959CYTotalExpensesAmt
PY Revenues Less Expenses$113,438PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$157,140CYRevenuesLessExpensesAmt
Total Assets BOY$4,448,390TotalAssetsBOYAmt
Total Assets EOY$4,460,558TotalAssetsEOYAmt
Total Liabilities BOY$4,138,911TotalLiabilitiesBOYAmt
Total Liabilities EOY$3,993,939TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$309,479NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$466,619NetAssetsOrFundBalancesEOYAmt
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$336,959ExpenseAmt
Revenue$494,099RevenueAmt
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$336,959TotalProgramServiceExpensesAmt
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
Temp Or Permanent Endowments0TempOrPermanentEndowmentsInd
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 Stmt0IndependentAuditFinclStmtInd
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 With Officer Ent0BusinessRlnWithOfficerEntInd
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 Document0IRPDocumentCnt
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
Form8899 Filedind0Form8899Filedind
Form1098 C Filed0Form1098CFiledInd
DAF Excess Business Holdings0DAFExcessBusinessHoldingsInd
Taxable Distributions0TaxableDistributionsInd
Distribution To Donor0DistributionToDonorInd
Indoor Tanning Services0IndoorTanningServicesInd
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 Line1Stenmark Financial ServicesBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9527670207PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1140 W 98th St Ste 114AddressLine1Txt
CityBloomingtonCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55420ZIPCd
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
Secretary1.00Yes (X)Yes (X)$0$0$0
Michel Ragot
Treasurer1.00Yes (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$494,099TotalRevenueColumnAmt
Related Or Exempt Func Income$494,099RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$494,099TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$494,099TotalRevenueColumnAmt
Related Or Exempt Func Income$494,099RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$4,975TotalAmt
Program Services$4,975ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$37,904TotalAmt
Program Services$37,904ProgramServicesAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$188,672TotalAmt
Program Services$188,672ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

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

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$10,091TotalAmt
Program Services$10,091ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$336,959TotalAmt
Program Services$336,959ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$228,059BOYAmt
EOY$335,544EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$4,474,510LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$349,496LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$4,220,331BOYAmt
EOY$4,125,014EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$4,448,390BOYAmt
EOY$4,460,558EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$17,693BOYAmt
EOY$15,306EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$4,121,218BOYAmt
EOY$3,978,633EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$4,138,911BOYAmt
EOY$3,993,939EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$210,366BOYAmt
EOY$320,238EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$99,113BOYAmt
EOY$146,381EOYAmt

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$309,479BOYAmt
EOY$466,619EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$4,448,390BOYAmt
EOY$4,460,558EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$157,140ReconcilationRevenueExpnssAmt
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$349,496DepreciationAmt
Book Value$2,510,014BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$4,125,014TotalBookValueLandBuildingsAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$3,252,708TotalRevEtcAuditedFinclStmtAmt
Other Revenue$3,252,708OtherRevenueAmt
Revenue Not Reported$3,252,708RevenueNotReportedAmt
Revenue Subtotal$0RevenueSubtotalAmt
Other Revenues Not Included$494,099OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt$494,099RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$494,099TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$3,617,624TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included$3,774,764OtherExpensesIncludedAmt
Expenses Not Reported$3,774,764ExpensesNotReportedAmt
Expenses Subtotal-$157,140ExpensesSubtotalAmt
Other Expenses Not Included$494,099OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$494,099ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$336,959TotalExpensesPerForm990Amt

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 cumulative 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 a 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, 2018.
Part XI, Line 2d - Other Adjustments:Revenue reported by ISLA 3,252,708.
Part XI, Line 4b - Other Adjustments:Rent received from ISLA 494,099.
Part XII, Line 2d - Other Adjustments:Expenses reported by ISLA 3,774,764.
Part XII, Line 4b - Other Adjustments:Rent paid by ISLA 494,099.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part VI, Section A, line 6The sole member of the Building Company is International Spanish Language Academy.
Form 990, Part VI, Section A, line 7aThe sole member of the Building Company 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 has no committees with authority 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 review it before it is signed by the President.
Form 990, Part VI, Section B, line 12cEach director annually signs a statement 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 2C:The 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 Road SAddressLine1Txt
CityMinnetonkaCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55343ZIPCd
FieldValueIRS element (for citing)
EIN010872726EIN
Primary ActivitiesEducation ServicesPrimaryActivitiesTxt
Legal Domicile StateMNLegalDomicileStateCd
Exempt Code Section501(c)3ExemptCodeSectionTxt
Public Charity Status170(b)(1)(A)(ii)PublicCharityStatusTxt
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$494,099InvolvedAmt
Method Of Amount DeterminationLease AgreementMethodOfAmountDeterminationTxt

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