Islamic American Society of Connecticut

Analysis

Islamic American Society of Connecticut is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in January 2008, 18 years ago. 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 2023, Islamic American Society of Connecticut reported income of $302k and spending of $230k, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $240k to $302k (+26%), an average of +5.9% a year. The sharpest change came in the year to December 2022, when income rose by 29%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Islamic American Society of Connecticut sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within CT. Charities of a similar size with the same main cause include Waterbury Ballet Company ($302k), Armed Forces Communications and Electronics Association ($302k) and Trinity Learning Center ($302k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $58k. At year end it held assets of $4.6m against liabilities of $0, net assets of $4.6m.