Irusa Waqf

What it reported doing in 2024

Irusa waqf is meant to act as an endowment fund to support the charitable activities of islamic relief USA, a 501(c)(3) organization and to serve as a vehicle for donors to be able to donate assets that will generate revenue that will fund the charitable mission of islamic relief USA. Irusa waqf will solicit donations from donors who wish to fulfill the charitable giving encouraged by the religion of islam that encourages its followers to give "sadaqah jaria or charitable gifts the benefits of which are expected to extend past the giver's lifetime. In the tradition of islam, benefactors would grant or bequeath property for the benefit of the whole community in perpetuity. In modern times, this type of giving can be fulfilled by giving to other vehicles, like an endowment fund, that will manage the charitable intent of the gift in perpetuity.the sole purpose of the irusa waqf is to hold the endowment assets for the benefit of its supported organization, islamic relief USA. Irusa waqf will make gifts, donations and other transfers from the endowment assets to islamic relief USA as its supported organization as the irusa waqf's board of directors deems appropriate in furtherance of the purposes of islamic relief USA's mission.irusa waqf will manage the assets intended to preserve the principal and generate revenue for the use of islamic relief USA in its programs. Once a threshold of revenue is reached that will allow the corpus of the endowment fund to continue in accordance with prudent investment standards, the excess revenue will be transferred to islamic relief USA for disbursement to its beneficiaries in the form of grants or direct assistance.islamic relief USA's international and domestic charitable activities include emergency response to natural and man-made disasters, delivery of humanitarian aid to civilians, development projects including water, sanitation, and hygiene projects, vocational and technical education, and micro-loan poverty alleviation programs.

Financial Efficiency

• Mission deployment rate: 0%; rating input score 0
• Program expense ratio: 0%; rating input score 0
• Fundraising efficiency: $4.41 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 93.9%; rating input score 99; 99th percentile among comparable filings
• Total-asset coverage ratio: 120.01; rating input score 99; 99th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
• Officer compensation ratio: 185%; rating input score 0; 0th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: -17.3% per year; rating input score 0; 1st percentile among comparable filings
• Asset growth: 11.4% per year; rating input score 100; 64th percentile among comparable filings