Skip to content
Nonprofiteer
← ISLAND SCHOOL FOUNDATION INC

Form 990 for tax year 2024

Filed by ISLAND SCHOOL FOUNDATION INC.

Totals

Total revenue
$818,876
Total expenses
$475,320
Contributions and grants received
$247,503
Grants paid
$454,000
Program service revenue
$0
Investment income
$571,373
Other revenue
$0
Total assets, end of year
$11,884,572
Total liabilities, end of year
$4,000
Net assets or fund balances, end of year
$11,880,572
Program services expenses (Part IX)
$454,000
Management and general expenses
$20,746
Fundraising expenses
$574
Program service expenses (Part III)
$454,000

Program services were 95.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $247,503

  • 3 · Investment income

    total $242,266 · unrelated business $0 · excluded $242,266

  • 7a · Gross sales of assets other than inventory

    securities $2,401,204

  • 7b · Less cost or other basis and sales expenses

    securities $2,072,097

  • 7c · Gain or loss

    securities $329,107

  • 7d · Net gain or loss

    total $329,107 · related or exempt $329,107 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $454,000 · program services $454,000

  • 11c · Fees: accounting

    total $14,748 · program services $0 · management and general $14,748 · fundraising $0

  • 13 · Office expenses

    total $4,602 · program services $0 · management and general $4,028 · fundraising $574

  • 22 · Depreciation, depletion and amortization

    total $319 · program services $0 · management and general $319 · fundraising $0

  • 23 · Insurance

    total $1,651 · program services $0 · management and general $1,651 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,797 · end of year $5,011

  • 3 · Pledges and grants receivable

    beginning of year $2,739 · end of year $1,891

  • 4 · Accounts receivable

    beginning of year $12,487 · end of year $13,041

  • 9 · Prepaid expenses and deferred charges

    beginning of year $584 · end of year $608

  • 10a · Land, buildings and equipment: cost or other basis

    $8,928

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,837

  • 10c · Land, buildings and equipment, net

    beginning of year $1,410 · end of year $1,091

  • 11 · Investments: publicly traded securities

    beginning of year $10,721,529 · end of year $11,862,930

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,613

  • 25 · Other liabilities

    end of year $4,000

  • 27 · Net assets without donor restrictions

    beginning of year $10,745,933 · end of year $11,880,572

Mission and programs · 2024

Mission

See Schedule O

  • The Island School Foundation is dedicated to the advancement of education of Boca Grande, FL. 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.

    Expenses $454,000 · Grants $454,000 · Revenue $247,503

As filed on the 2024 return.

Listed in Part VII

  • Mary Johnston

    Chair

    Total calculated
    $0
    Hours/week
    4

  • Rick Ganong

    Vice Chair

    Total calculated
    $0
    Hours/week
    4

  • Louis Sarkes

    Treasurer

    Total calculated
    $0
    Hours/week
    4

  • Edward Wilson

    Secretary

    Total calculated
    $0
    Hours/week
    4

  • Brent Cross

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Kathy Gregg

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Harry Haddad

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Brian Hogan

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Chris Keller

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Mary Kountze

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Anne Poole

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Joe Siman

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Pierce Walmsley

    Trustee

    Total calculated
    $0
    Hours/week
    4

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
26 December 2025
IRS schema version
2024v5.2
Source object
202600369349300615

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.