The Quran Institute of America

Analysis

The Quran Institute of America is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in December 2006, 20 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 December 2023, The Quran Institute of America reported income of $1.9m and spending of $1.9m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.9m (+64%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 73%. 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, The Quran Institute of America sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within MI. Charities of a similar size with the same main cause include Lsu in Shreveport Foundation Inc ($1.9m), Valley Christian Academy Inc ($1.9m) and Covenant Christian Assembly ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $87k (4.5% of expenses). Other salaries and wages came to $730k. At year end it held assets of $2.2m against liabilities of $500k, net assets of $1.7m. It reported 26 employees.