Charlotte Islamic Academy Inc
EIN: 261116585 · Charlotte, NC · NTEE: B20
Is Charlotte Islamic Academy Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Charlotte Islamic Academy Inc
Charlotte Islamic Academy Inc (EIN: 261116585) is a nonprofit organization based in Charlotte, NC, classified under NTEE code B20. The organization reported total revenue of $1.7M and total assets of $219K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Charlotte Islamic Academy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Charlotte Islamic Academy Inc is a mid-size nonprofit that has been operating for 6 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 5.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.3M |
| Surplus / Deficit | $-99,465 |
| Total Assets | $168K |
| Total Liabilities | $195K |
| Net Assets | $-27,247 |
| Operating Margin | -8.0% |
| Debt-to-Asset Ratio | 116.2% |
| Months of Reserves | 1.5 months |
Financial Health Grade: D
In 2023, Charlotte Islamic Academy Inc reported a deficit of $99K with expenses exceeding revenue, holds 1.5 months of operating reserves (limited), has a debt-to-asset ratio of 116.2% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Charlotte Islamic Academy Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +28.3% | +44.0% | +132.5% |
| 2022 | +28.5% | +20.2% | +107.3% |
| 2021 | +24.4% | +24.0% | -80.5% |
| 2020 | -1.4% | -15.3% | +137.3% |
| 2019 | -11.9% | +4.3% | -62.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2700 |
| IRS Ruling Date | 2020 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Charlotte Islamic Academy Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Charlotte Islamic Academy Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $99K, with expenses exceeding revenue.
- Debt-to-asset ratio: 116.2%.
Frequently Asked Questions about Charlotte Islamic Academy Inc
Is Charlotte Islamic Academy Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Charlotte Islamic Academy Inc (EIN: 261116585) insufficient data. 0 red flags identified, 0 strengths noted.
How does Charlotte Islamic Academy Inc spend its money?
Detailed spending breakdown data is not yet available for Charlotte Islamic Academy Inc. Check back for updated IRS 990 analysis.
Are donations to Charlotte Islamic Academy Inc tax-deductible?
Charlotte Islamic Academy Inc is registered as a tax-exempt nonprofit (EIN: 261116585). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Charlotte Islamic Academy Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Charlotte Islamic Academy Inc's revenue has grown by 88.6%, moving from $662K to $1.2M. Total assets increased by 634.1% over the same period, from $23K to $168K. Total functional expenses rose by 109.4%, from $644K to $1.3M. In its most recent filing year (2023), Charlotte Islamic Academy Inc reported a deficit of $99K, with expenses exceeding revenue. The organization holds $195K in liabilities against $168K in assets (debt-to-asset ratio: 116.2%), resulting in net assets of $-27,247.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.2M | $1.3M | $168K | $195K | — | View 990 |
| 2022 | $974K | $936K | $72K | $0 | — | View 990 |
| 2021 | $758K | $779K | $35K | $0 | — | View 990 |
| 2020 | $609K | $628K | $178K | $122K | — | View 990 |
| 2019 | $618K | $742K | $75K | $0 | — | View 990 |
| 2018 | $702K | $711K | $199K | $0 | — | View 990 |
| 2017 | $777K | $772K | $209K | $0 | — | View 990 |
| 2016 | $887K | $929K | $205K | $1K | — | View 990 |
| 2015 | $861K | $852K | $247K | $1K | — | View 990 |
| 2014 | $871K | $930K | $238K | $2K | — | View 990 |
| 2013 | $918K | $825K | $296K | $0 | — | View 990 |
| 2012 | $662K | $644K | $23K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.2M, expenses of $1.3M, and assets of $168K (revenue +28.3% year-over-year).
- 2022: Revenue of $974K, expenses of $936K, and assets of $72K (revenue +28.5% year-over-year).
- 2021: Revenue of $758K, expenses of $779K, and assets of $35K (revenue +24.4% year-over-year).
- 2020: Revenue of $609K, expenses of $628K, and assets of $178K (revenue -1.4% year-over-year).
- 2019: Revenue of $618K, expenses of $742K, and assets of $75K (revenue -11.9% year-over-year).
- 2018: Revenue of $702K, expenses of $711K, and assets of $199K (revenue -9.7% year-over-year).
- 2017: Revenue of $777K, expenses of $772K, and assets of $209K (revenue -12.4% year-over-year).
- 2016: Revenue of $887K, expenses of $929K, and assets of $205K (revenue +3.1% year-over-year).
- 2015: Revenue of $861K, expenses of $852K, and assets of $247K (revenue -1.2% year-over-year).
- 2014: Revenue of $871K, expenses of $930K, and assets of $238K (revenue -5.1% year-over-year).
- 2013: Revenue of $918K, expenses of $825K, and assets of $296K (revenue +38.6% year-over-year).
- 2012: Revenue of $662K, expenses of $644K, and assets of $23K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Charlotte Islamic Academy Inc:
Data Sources and Methodology
This transparency report for Charlotte Islamic Academy Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.