Merrimack Valley Islamic Academy in the Islamic Academy
Nonprofit profile at a glance
- EIN
- 043549933
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Methuen, MA, USA
- Phone
- 9789757335
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Elementary, Secondary Education, K - 12
- Affiliation
- Islam
Reported finances
- Revenue
- $2,145,491
- Expenses
- $1,632,292
- Assets
- $1,792,599
- Liabilities
- $87,191
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- RASHID KHAN (PRESIDENT)
Highest reported compensation
- NADJETTE LAZZOUNI (PRINCIPAL): $92,964 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The aim of the islamic academy is to give our children an islamic identity and a high quality education. This includes state-of-the-art training in physical and social sciences, and at the same time inculcation of the values, which make individuals good human beings and useful members of society.
What it reported doing in 2024
The organization operates a faith-based accredited school from pre-k 3 to 8th grade. The organization is accredited by new england association of schools and colleges (neasc). The organization currently enrolls 210 students.
Operating model
- Revenue model
- Earned-program. 80% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 65
- Transparency & Controls: 90
- Accountability: 69
- Sustainability: 63
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 62.7%; rating input score 63
- Program expense ratio: 84.1%; rating input score 84
- Fundraising efficiency: $4.84 raised per $1 spent on fundraising; rating input score 16; 16th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 2 of 8 controls in place; rating input score 25
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 23.9%; rating input score 80; 80th percentile among comparable filings
- Total-asset coverage ratio: 1.1; rating input score 40; 40th percentile among comparable filings
- Liabilities to assets ratio: 0.05; rating input score 70; 70th percentile among comparable filings
- Officer compensation ratio: 5.7%; rating input score 49; 49th percentile among comparable filings
Growth
- Program expense growth: 3.1% per year; rating input score 100; 28th percentile among comparable filings
- Revenue growth: 5.4% per year; rating input score 100; 44th percentile among comparable filings
- Asset growth: 12.9% per year; rating input score 100; 68th percentile among comparable filings
Details
- Where the money goes: 62.7% of revenue deployed · 84.1% of spending went to programs
- Governance: 12 of 12 board members independent · 2 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $1.4M in reported program spending
- Leadership: top reported pay $93K · 6 people listed
- Consistency: 21 of 21 current checks pass
- Schedules: 4 filed schedules
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Governance controls: 5 of 7 not reported.
- High — Financial Efficiency: Fundraising efficiency scored 16/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
- Moderate — Sustainability: Officer compensation ratio scored 49/100.