Mufid Academic Seminary

Analysis

Mufid Academic Seminary is a registered charity in United States, based in Fairfax, VA. It received its IRS tax-exemption ruling in November 2022, 4 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 June 2024, Mufid Academic Seminary reported income of $364k and spending of $320k, spending 88% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $119k to $364k (+207%), an average of +32% a year. The sharpest change came in the year to June 2022, when income rose by 104%. Over the whole period it spent 96% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Mufid Academic Seminary sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within VA. Charities of a similar size with the same main cause include National Consultants Group Inc ($364k), CMF Ministries ($364k) and Shine Ministries Inc ($364k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 90% and program service revenue 3.5% of the total. Compensation of current officers, directors and key employees was $70k (22% of expenses). Other salaries and wages came to $101k. At year end it held assets of $51k against liabilities of $899, net assets of $50k. It reported 3 employees.