Islamic-American Zakat Foundation

Analysis

Islamic-American Zakat Foundation is a registered charity in United States, based in Bethesda, MD. It received its IRS tax-exemption ruling in February 1986, 40 years ago. 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, Islamic-American Zakat Foundation reported income of $378k and spending of $510k, spending 135% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $261k to $378k (+45%), an average of +9.7% a year. The sharpest change came in the year to December 2021, when income rose by 53%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Islamic-American Zakat Foundation sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within MD. Charities of a similar size with the same main cause include Community Ambulance Service Club ($378k), Mahaska County Historical Society ($378k) and Sweetgrass Lodge ($378k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Other salaries and wages came to $156k. At year end it held assets of $209k against liabilities of $16k, net assets of $193k.