THE QURAN INSTITUTE OF AMERICA
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$2,372,177
Program Services
52%
Contributions
46%
Government Grants
1%
Other
<1%
Fundraising Events
0%
Membership Dues
0%
Investments
0%
Expenses in 2024
$2,427,480
Salaries & Benefits
45%
Offices, Occupancy & IT
21%
Fees to Service Providers
20%
Other
9%
Depreciation
4%
Grants
<1%
Interest
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$921,687
$1,092,890
+19%
Government Grants
-$900
$34,096
-3888%
Fundraising Events
$0
$0
-
Program Services
$979,235
$1,232,691
+26%
Membership Dues
$0
$0
-
Investments
$0
$0
-
Other
$29,731
$12,500
-58%
Total Revenues
$1,929,753
$2,372,177
+23%
Expenses
2023
2024
Change
Grants
$53,509
$23,262
-57%
Benefits to Members
$0
$0
-
Salaries & Benefits
$891,767
$1,091,519
+22%
Fees to Service Providers
$403,451
$479,691
+19%
Advertising & Promotion
$499
$2,511
+403%
Offices, Occupancy & IT
$332,858
$507,908
+53%
Interest
$7,543
$18,474
+145%
Depreciation
$71,489
$90,181
+26%
Other
$186,577
$213,934
+15%
Total Expenses
$1,947,693
$2,427,480
+25%
Net income
2023
2024
Change
Net income
-$17,940
-$55,303
-208%
Functional Expenses
Summary
2023
2024
Change
Program
$1,244,153
$1,451,206
+17%
Admin
$509,476
$745,438
+46%
Fundraising
$194,064
$230,836
+19%
Total Expenses
$1,947,693
$2,427,480
+25%
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