Iqra Cultural Center Inc

Analysis

Iqra Cultural Center Inc is a registered charity in United States, based in East Meadow, NY. It received its IRS tax-exemption ruling in May 2020, 6 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Iqra Cultural Center Inc reported income of $638k and spending of $88k, leaving 86% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $15k to $638k (+4152%), an average of +249% a year. The sharpest change came in the year to December 2022, when income rose by 2197%. Over the whole period it spent 11% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Iqra Cultural Center Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Wiscasset Waterville & Farmington Railway Museum ($638k), American Chemical Society ($638k) and Arlekin Players Theatre ($638k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $3.4m against liabilities of $2.4m, net assets of $1.0m.