Al-Furqaan Foundation
- Assets
- $9.4m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 51
- Location
- Lombard, IL
- Founding
- 08/2006
- Data as of
- 12/2020
- EIN
- 20-0310701
Organization Overview
Al-Furqaan Foundation is located in Lombard, IL. The organization was established in 2006. According to its NTEE Classification (X40) the organization is classified as: Islam, under the broad grouping of Religion-Related and related organizations. As of 12/2020, Al-Furqaan Foundation employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Al-Furqaan Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Al-Furqaan Foundation generated $3.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $2.5m during the year ending 12/2020. While expenses have increased by 6.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO INFORM AND EDUCATE ALL THE RESIDENTS OF THE UNITED STATES THE TRUTH ABOUT ISLAM AND ITS CORE PRINCIPLES AND TO COUNTER THE NEGATIVE MEDIA INFORMATION THAT IS BEING DISSEMINATED ABOUT ISLAM AND TO PRODUCE, DEVELOP, ACQUIRE, AND DISTRIBUTE ANY LITERATURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
FURQAAN ACADEMY IS AN ISLAMIC FULL TIME SCHOOL FROM PRE-K TO 12TH GRADE WHICH TEACHES A REGULAR ACADEMIC CURRICULUM, QUR'AN MEMORIZATION, ISLAMIC STUDIES AND ARABIC LANGUAGE.
FURQAAN PROJECT IS OUR FLAGSHIP PROJECT FOR DISTRIBUTING FREE AND SUBSIDIZED DISTRIBUTUION OF THE BEST TRANSLATION OF THE QUR'AN IN THE ENGLISH LANGUAGE. "THE CLEAR QUR'AN" HAS GAINED AMAZING ACCEPTANCE NATIONWIDE.
FURQAAN BOOKSTORE IS WHERE WE CARRY A LARGE SELECTION OF BOOKS AND OTHER ELECTRONIC PRODUCTS ON DIFFERENT TOPICS OF ISLAM USEFUL FOR DIFFERENT SEGMENT OF THE SOCIETY.
WE HAVE STARTED MASJID FURQAAN DURING 2020 WHICH IS FULLY FUNCTIONAL AND OPEN TO THE PUBLIC FOR OFFERING PRAYERS FIVE TIMES A DAY. WE HAVE FEW OTHER PROJECTS LIKE, QURAN EDUCATION TO MUSLIM ADULTS, WE ARE PROVIDING FAMILY COUNSELLING AND COUNSELLING BASED ON THE QURAN AND PROPHETIC SAYINGS. WE ALSO RUN A MOSQUE IN THE SOUTH SIDE OF CHICAGO FOR LOCAL MUSLIMS. OUR PROJECT TO RECYCLE THE SACRED TEXT APPROPRIATELY WITH HELP OF A LOCAL RECYCLING COMPANY IS ALSO RUNNING WELL AND GAINING POPULARITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mohammed S Sayeed Director | Trustee | 5 | $0 |
Hussain Kedwaii Treasurer | OfficerTrustee | 5 | $0 |
Mohammed Abdulghani Secretary | OfficerTrustee | 1 | $0 |
Abdul Khan Director | Trustee | 5 | $0 |
Syed Salahuddin Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,073,542 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,073,542 |
| Total Program Service Revenue | $928,213 |
| Investment income | $40,384 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $207,298 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,249,437 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,200 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $32,495 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,066,090 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $95,381 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,022 |
| Advertising and promotion | $213,437 |
| Office expenses | $34,316 |
| Information technology | $0 |
| Royalties | $46,776 |
| Occupancy | $135,127 |
| Travel | $51,044 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $68,226 |
| Insurance | $13,338 |
| All other expenses | $270,894 |
| Total functional expenses | $2,547,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,339,740 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,763 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $23,720 |
| Inventories for sale or use | $1,987,681 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,714,252 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,289,131 |
| Total assets | $9,389,287 |
| Accounts payable and accrued expenses | $276,125 |
| Grants payable | $0 |
| Deferred revenue | $182,319 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,245,685 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,352,434 |
| Total liabilities | $4,056,563 |
| Net assets without donor restrictions | $5,332,724 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,389,287 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Al-Furqaan Foundation has recieved totaling $118,752.
| Awarding Organization | Amount |
|---|---|
Islamic Food And Nutriton Council Of America Des Plaines, IL PURPOSE: Religious | $110,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,852 |
Saif & Lubna Foundation Plano, TX PURPOSE: DONATION | $500 |
Darul Sadaqa786 Fremont, CA | | $400 |
Endowment Analysis
| Beg. Balance | $11,854 |
| Earnings | $3,895 |
| Net Contributions | $50,000 |
| Ending Balance | $65,749 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Muslim Community Center Incorporate Chicago, IL | $16,317,970 | $7,162,457 |
Al-Furqaan Foundation Lombard, IL | $9,389,287 | $3,249,437 |
Rahmat-E-Alam Foundation Chicago, IL | $3,691,412 | $1,733,178 |
Dawat-E-Islami Usa Inc Chicago, IL | $3,216,326 | $2,187,273 |
At-Takaful Islamic Society Chicago, IL | $3,443,643 | $849,911 |
Alhussnain Indianapolis, IN | $963,343 | $926,353 |
The Oasis Initiative Foundation Northbrook, IL | $705,926 | $811,524 |
House Of Wisdom Inc Greenfield, WI | $980,324 | $310,182 |
Sacred Learning Nfp Lincolnwood, IL | $11,221,302 | $937,465 |
Rahmah Foundation Inc Lake Villa, IL | $6,370,567 | $496,721 |
Islamic Society Of Northwest Suburbs Of Chicago Rolling Meadows, IL | $5,954,676 | $2,092,486 |
Sirat Chicago Chicago, IL | $543,094 | $942,884 |