Al-Furqaan Foundation

Analysis

Al-Furqaan Foundation is a registered charity in United States, based in Romeoville, IL. It received its IRS tax-exemption ruling in November 2021, 5 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2020, Al-Furqaan Foundation reported income of $3.2m and spending of $2.5m, leaving 22% of income unspent that year. Across the 2 years on record, from December 2019 to December 2020, income fell from $3.4m to $3.2m (-3.6%), an average of -3.6% a year. Over the whole period it spent 85% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Al-Furqaan Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within IL. Charities of a similar size with the same main cause include Ministry Leadership Center ($3.2m), Society of St Vincent de Paul Racine County Council Inc ($3.3m) and Society of St Vincent de Paul Rockford Council ($3.2m).

On its Form 990 for the period ending December 2020, revenue came from contributions and grants 64% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $32k (1.3% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $9.4m against liabilities of $4.1m, net assets of $5.3m. It reported 51 employees.