Boston Islamic Seminary

Analysis

Boston Islamic Seminary is a registered charity in United States, based in Chelsea, MA. It received its IRS tax-exemption ruling in February 2018, 8 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 June 2024, Boston Islamic Seminary reported income of $647k and spending of $679k, spending 105% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $434k to $647k (+49%), an average of +8.3% a year. The sharpest change came in the year to June 2021, when income rose by 136%. Over the whole period it spent 92% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Boston Islamic Seminary sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MA. Charities of a similar size with the same main cause include Del Camino Connection NFP ($647k), Oasis Corporation ($647k) and Miracle Connect USA ($647k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 72% and program service revenue 27% of the total. Other salaries and wages came to $439k. At year end it held assets of $603k against liabilities of $11k, net assets of $592k. It reported 10 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.