Charlotte Islamic Academy Inc

Analysis

Charlotte Islamic Academy Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in October 2020, 6 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, Charlotte Islamic Academy Inc reported income of $1.2m and spending of $1.3m, spending 108% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $702k to $1.2m (+78%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 29%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Charlotte 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 82nd percentile within NC. Charities of a similar size with the same main cause include Los Angeles Christian School ($1.2m), Field Middle School ($1.2m) and Wake Education Partnership ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 32% of the total. Other salaries and wages came to $792k. At year end it held assets of $168k against liabilities of $195k, net assets of -$27k. It reported 43 employees.