Institute of Quran Memorization Inc

Analysis

Institute of Quran Memorization Inc is a registered charity in United States, based in Richardson, TX. It received its IRS tax-exemption ruling in February 2016, 10 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Institute of Quran Memorization Inc reported income of $115k and spending of $106k, spending 93% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $96k to $115k (+20%), an average of +20% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 95% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Institute of Quran Memorization Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 43rd percentile within TX. Charities of a similar size with the same main cause include Esmond Arthur Sacred Trust of All Saints Protestant Episcopal Church ($115k), Noel Churches ($115k) and Peace Prayer Counseling Center Inc ($115k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $14k against liabilities of $0, net assets of $14k.