Quran Foundation Inc

Analysis

Quran Foundation Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 2024, 2 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, Quran Foundation Inc reported income of $767k and spending of $183k, leaving 76% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $730k to $767k (+5.0%), an average of +5.0% a year. Over the whole period it spent 23% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Quran Foundation Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include Wellspring Adoption Agency Inc ($767k), Cloud Walk Worldwide Inc ($767k) and Radio Waves of Love Inc ($767k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.2m against liabilities of $0, net assets of $1.2m.