Iqra Academy of the Twin Cities

Analysis

Iqra Academy of the Twin Cities is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in October 2023, 3 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3).

In the financial year ending December 2023, Iqra Academy of the Twin Cities reported income of $246k and spending of $205k, spending 83% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $70k to $246k (+252%), an average of +88% a year. The sharpest change came in the year to December 2022, when income rose by 504%. Over the whole period it spent 82% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Iqra Academy of the Twin Cities 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 58th percentile, and in the 56th percentile within MN. Charities of a similar size with the same main cause include Planet Hope Land and Sea ($245k), Dream Center of Tampa Inc ($246k) and Julio a Martinez Memorial Fund ($245k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $25k (12% of expenses). At year end it held assets of $88k against liabilities of $13k, net assets of $75k. It reported 2 employees.