Merrimack Valley Islamic Academy Inc

Analysis

Merrimack Valley Islamic Academy Inc is a registered charity in United States, based in Methuen, MA. It received its IRS tax-exemption ruling in April 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Merrimack Valley Islamic Academy Inc reported income of $1.3m and spending of $1.3m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $1.3m (+8.8%), an average of +2.1% a year. The sharpest change came in the year to June 2022, when income rose by 54%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Merrimack Valley Islamic Academy Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include Archway Academy ($1.3m), Acorn Hill School Incorporated ($1.3m) and Gurukul ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 85% of the total. Other salaries and wages came to $822k. At year end it held assets of $511k against liabilities of $158k, net assets of $353k. It reported 44 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.