Island Academy Inc (EIN 980379620) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Principal Officer

Bernadette Sherman

Phone

2026803926

Tax Period

2024-08-01 to 2025-07-31

Island Academy Inc, founded in 2001, is a community nonprofit in the Education sector that reported $4.0M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.4M, a strong 34% operating margin.

Mission

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,823,403

Program Service Revenue $2,184,034

Investment Income $0

Other Revenue $0

TOTAL REVENUE $4,007,437

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,264,195

Fundraising Expenses $0

Program Expenses $2,585,838

Other Expenses $1,379,562

TOTAL EXPENSES $2,643,757

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,007,437	$3,372,510	+0.2%
Expenses	$2,643,757	$2,691,016	0.0%
Net Income	$1,363,680	$681,494	+1.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bernadette Sherman	Chairperson	14.00	Director	$0	$0	$0
Susan Lowes	Trustee	1.00	Director	$0	$0	$0
Norma Holder	Treasurer	1.00	Director	$0	$0	$0
Sharon Cort	Trustee	1.00	Director	$0	$0	$0
Anne Hamilton	Trustee	1.00	Director	$0	$0	$0
Patti Schear	Trustee	1.00	Director	$0	$0	$0
Gary Randall	Trustee	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$4,007,437	$2,643,757	$7,175,834	$1,363,680
2024	$3,372,510	$2,691,016	$5,567,926	$681,494
2023	$3,389,545	$2,691,017	$5,698,760	$698,528
2022	$2,888,522	$2,351,849	$5,135,177	$536,673
2021	$2,397,257	$1,626,659	$4,125,697	$770,598
2020	$2,097,199	$1,823,479	$3,701,091	$273,720

Island Academy Inc