Is Islamic Circle Of North America Inc Legit?

The Islamic Circle Of North America Inc (ICNA) demonstrates a generally healthy financial position with consistent revenue growth over the past several years, increasing from $3,076,268 in 2014 to $5,442,120 in 2023. The organization consistently operates with a surplus, as evidenced by revenues exceeding expenses in all reported periods, contributing to a steady increase in assets from $6,778,243 in 2014 to $10,369,921 in 2023. This indicates sound financial management and an ability to build reserves. Spending efficiency appears strong, with expenses consistently lower than revenues. For instance, in 2023, expenses were $4,535,878 against revenues of $5,442,120, resulting in a significant surplus. The organization's liabilities are relatively low compared to its assets, further indicating financial stability. The consistent reporting of 0% officer compensation across all filings suggests a volunteer-driven leadership or that compensation is not reported under this specific line item, which could be a point for further inquiry regarding overall compensation practices. Transparency is generally good through its consistent IRS 990 filings. However, the lack of reported officer compensation on the 990s could be interpreted in two ways: either the organization's officers are truly uncompensated, or their compensation is categorized differently, which might warrant a deeper look for complete transparency regarding leadership remuneration. Overall, ICNA appears to be a financially stable organization with a positive trend in growth and asset accumulation.