Charlotte Islamic Academy Inc
Proud American Muslims
Charlotte Islamic Academy Inc
EIN: 26-1116585
as of September 2023
as of September 18, 2023
Mission
THE SCHOOL IS AN ACCREDITED COMPREHENSIVE COMMUNITY SCHOOL WITH COLLEGE PREPARTORY FOCUS.
Ruling year
2020
Business Leader
Fadel Alshalabi
Religious Leader
Bassam Obeid
Main address
5500 North Tryon Street
Charlotte, NC 28213 USA
IRS subsection
501(c)(3) Public Charity
IRS filing requirement
This organization is required to file an IRS Form 990 or 990-EZ.
Tax forms
Communication
Programs and results
What we aim to solve
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
k to 12 Full time Islamic School
Our school’s vision is to guide students to become model citizens with academic excellence and Islamic values to succeed in this life and the Hereafter.
The objective of the Academy is to organize and operate Full-Time Islamic School in Mecklenburg and other counties in the State of North Carolina on the basic principles of Islam; and to develop an Islamic environment and instill Islamic moral values in its students.
Section 2.
The Academy is committed to providing benevolent education not contradictory with the teachings of Islam to any and all Muslims and interested non-Muslims; and to administer its education programs, admissions policies, scholarships and loan programs, and all other school programs and policies without regard to race, caste, creed, ethnic origin, nationality, gender or religion.
Section 3.
The Academy has the following additional goals:
a. To help its students develop God-consciousness and a comprehensive understanding of Islam;
Where we work
External reviews
Financials
Revenue vs. expenses: breakdown
Liquidity in 2022 info
0.00
Months of cash in 2022 info
0.8
Fringe rate in 2022 info
8%
Funding sources info
Assets & liabilities info
Financial data
Charlotte Islamic Academy Inc
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jan 01 - Dec 31
This snapshot of Charlotte Islamic Academy Inc’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
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Business model indicators
| Profitability info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Unrestricted surplus (deficit) before depreciation | -$9,490 | -$123,864 | -$18,884 | -$13,950 | $38,132 |
| As % of expenses | -1.3% | -16.7% | -3.0% | -1.8% | 4.1% |
| Unrestricted surplus (deficit) after depreciation | -$9,490 | -$123,864 | -$18,884 | -$21,480 | $37,382 |
| As % of expenses | -1.3% | -16.7% | -3.0% | -2.8% | 4.0% |
| Revenue composition info | |||||
|---|---|---|---|---|---|
| Total revenue (unrestricted & restricted) | $701,817 | $617,971 | $609,299 | $757,696 | $973,723 |
| Total revenue, % change over prior year | -9.7% | -11.9% | -1.4% | 24.4% | 28.5% |
| Program services revenue | 62.3% | 51.0% | 52.6% | 40.1% | 58.6% |
| Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Investment income | 0.0% | 0.0% | 0.0% | 16.1% | 0.0% |
| Government grants | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| All other grants and contributions | 37.7% | 48.0% | 47.4% | 43.8% | 41.4% |
| Other revenue | 0.0% | 1.0% | 0.0% | 0.0% | 0.0% |
| Expense composition info | |||||
|---|---|---|---|---|---|
| Total expenses before depreciation | $711,307 | $741,835 | $628,183 | $771,646 | $935,591 |
| Total expenses, % change over prior year | -7.9% | 4.3% | -15.3% | 22.8% | 21.2% |
| Personnel | 83.9% | 85.1% | 83.9% | 85.8% | 80.4% |
| Professional fees | 0.9% | 0.8% | 4.1% | 1.0% | 1.4% |
| Occupancy | 2.6% | 4.6% | 4.2% | 2.2% | 1.6% |
| Interest | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Pass-through | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| All other expenses | 12.6% | 9.6% | 7.8% | 11.1% | 16.6% |
| Full cost components (estimated) info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Total expenses (after depreciation) | $711,307 | $741,835 | $628,183 | $779,176 | $936,341 |
| One month of savings | $59,276 | $61,820 | $52,349 | $64,304 | $77,966 |
| Debt principal payment | $0 | $0 | $0 | $0 | $0 |
| Fixed asset additions | $0 | $0 | $0 | $0 | $0 |
| Total full costs (estimated) | $770,583 | $803,655 | $680,532 | $843,480 | $1,014,307 |
Capital structure indicators
| Liquidity info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Months of cash | 0.1 | 1.0 | 3.2 | 0.4 | 0.8 |
| Months of cash and investments | 0.1 | 1.0 | 3.2 | 0.4 | 0.8 |
| Months of estimated liquid unrestricted net assets | 0.3 | 1.2 | 1.1 | 0.5 | 0.9 |
| Balance sheet composition info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Cash | $7,064 | $63,200 | $166,416 | $22,836 | $60,218 |
| Investments | $0 | $0 | $0 | $0 | $0 |
| Receivables | $0 | $0 | $0 | $0 | $0 |
| Gross land, buildings, equipment (LBE) | $244,542 | $0 | $0 | $72,072 | $72,822 |
| Accumulated depreciation (as a % of LBE) | 26.4% | 0.0% | 0.0% | 100.0% | 100.0% |
| Liabilities (as a % of assets) | 0.0% | 0.0% | 68.4% | 0.0% | 0.0% |
| Unrestricted net assets | $0 | $0 | $0 | $0 | $0 |
| Temporarily restricted net assets | $0 | N/A | N/A | N/A | N/A |
| Permanently restricted net assets | $0 | N/A | N/A | N/A | N/A |
| Total restricted net assets | $0 | $0 | $0 | $0 | $0 |
| Total net assets | $199,064 | $75,200 | $56,316 | $34,836 | $72,218 |
Key data checks
| Key data checks info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Business Leader
Fadel Alshalabi
Religious Leader
Bassam Obeid
Number of employees
Source: IRS Form 990
Charlotte Islamic Academy Inc
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
There are no highest paid employees recorded for this organization.
This organization has no recorded board members.
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