Iqra Academy of Virginia

Analysis

Iqra Academy of Virginia is a registered charity in United States, based in Midlothian, VA. It received its IRS tax-exemption ruling in September 2006, 20 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, Iqra Academy of Virginia reported income of $1.2m and spending of $1.1m, spending 93% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $1.1m to $1.2m (+9.8%), an average of +2.4% a year. The sharpest change came in the year to July 2021, when income rose by 19%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Iqra Academy of Virginia sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within VA. Charities of a similar size with the same main cause include African Community Services in MN ($1.2m), Texas Interscholastic League Foundation ($1.2m) and Gonzaga Preparatory School Foundation of Spokane Washington ($1.2m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 11% and program service revenue 68% of the total. Other salaries and wages came to $487k. At year end it held assets of $1.1m against liabilities of $31k, net assets of $1.1m. It reported 42 employees.