Al-Rasheed Academy

Analysis

Al-Rasheed Academy is a registered charity in United States, based in Orchard Park, NY. It received its IRS tax-exemption ruling in September 2016, 10 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 July 2023, Al-Rasheed Academy reported income of $975k and spending of $866k, spending 89% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $499k to $975k (+95%), an average of +18% a year. The sharpest change came in the year to July 2022, when income rose by 62%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Al-Rasheed Academy sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include Fairbanks Montessori Association Inc ($975k), Mathematical Olympiads for Elementary School Inc ($975k) and Little Gems of the Sierra Preschool Inc ($975k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 10% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $32k (3.8% of expenses). Other salaries and wages came to $665k. At year end it held assets of $45k against liabilities of $9,914, net assets of $35k. It reported 43 employees.