Zakat Foundation of America

Analysis

Zakat Foundation of America is a registered charity in United States, based in Worth, IL. It received its IRS tax-exemption ruling in February 2003, 23 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Zakat Foundation of America reported income of $29.5m and spending of $19.2m, leaving 35% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.8m to $29.5m (+201%), an average of +32% a year. The sharpest change came in the year to June 2021, when income rose by 57%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Zakat Foundation of America sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within IL. Charities of a similar size with the same main cause include Huston-Tillotson University ($29.5m), Hawthorne Foundation Inc ($29.5m) and Jewish Family and Childrens Service ($29.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $317k (1.6% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $29.3m against liabilities of $1.1m, net assets of $28.2m. It reported 54 employees.