Islamic Education Foundation Of New Jersey Inc

The information for Islamic Education Foundation Of New Jersey Inc is as of the organization's most recent filing in August '16. This organization is located in Wayne, NJ. It has been in existence for 19 years, following its founding in 1997.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Islamic Education Foundation Of New Jersey Inc's NTEE code is X40. The "X" tells us that the organization is classified as Religion-Related. The "40" tells us that the organization is specifically related to Islam. The NTEE describes Religion-Related organizations as those whose members are followers of Islam, with beliefs in Allah as the sole deity, Mohammed as the prophet of Allah, and the Koran as the revelation of Allah. These organizations are involved in various aspects of the religious, social, civil, commercial, military, and legal regulations of the Islamic world.

Every organization is also governed by a specific section of the Internal Revenue Code. This organization happens to fall under section 3 of the code, which includes Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals Organizations.

Perhaps the most accurate way to understand the organization's goals is by looking at its mission. The Islamic Education Foundation Of New Jersey Inc's mission is to provide a full-time school from Pre-K through 12th grade.

Program Areas

The full-time school from pre-K through 12th grade falls under the general fund, where all revenues, support, and functional expenses that are not specifically reported by another fund or program are accounted for. It is worth noting that the enrollment in the school has recently increased by approximately 40 students.

Organization Staffing

Islamic Education Foundation Of New Jersey Inc has 110 employees, none of whom were paid more than $100k according to the organization's most recent 990 tax filing. The organization does not have any volunteers supporting the paid staff.

Board Governance

The Islamic Education Foundation of New Jersey Inc appears to be well-governed based on the information provided. The organization has a total of 6 voting members, all of whom are independent. This indicates that there is no undue influence or conflicts of interest within the board. Furthermore, the organization does not delegate management to an outside firm, which suggests that the board maintains control over the organization's operations. This allows for greater transparency and accountability. The fact that both board meetings and committee meetings are documented indicates a commitment to transparency and record-keeping. This ensures that decisions and discussions are properly recorded and can be referred to in the future if needed. Although the organization does not have a conflict of interest policy or require disclosure of conflicts, the absence of potential conflicts of interest and the independent nature of the board members mitigate this concern to some extent. Additionally, the organization has a document retention policy, which demonstrates a commitment to maintaining and preserving important records. Overall, while there are some areas where the organization could improve its governance practices, the Islamic Education Foundation of New Jersey Inc appears to be well-governed based on the information provided.

Organization Growth

The Islamic Education Foundation of New Jersey Inc has experienced growth over the given time period. Contributions and grants received increased from $106.9K in 2014 to $144.7K in 2015. Program service revenue also increased from $3.0M in 2014 to $3.3M in 2015. Total revenue saw an increase as well, from $3.2M in 2014 to $3.5M in 2015. Additionally, employee salaries increased from $2.2M in 2014 to $2.6M in 2015. However, it is worth noting that total expenses remained the same at $3.3M in both years. The total number of employees decreased slightly from 119 in 2014 to 110 in 2015. Overall, the organization has shown growth in terms of revenue and contributions, but a slight decrease in the number of employees.