Civic Intelligence

Merrimack Valley Islamic Academy in the Islamic Academy

EIN 04-3549933 • 501(c)3 • Methuen, MA

Profile

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.

125 Oakland AveMethuen, MA 01844

www.theislamicacademy.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

61st percentile

0.13x

Higher debt load relative to assets than 61% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

54th percentile

0.10x

Higher debt load relative to revenue than 54% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

87th percentile

44%

Higher net margin than 87% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

62nd percentile

$89,503

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

97th percentile

170%

Faster asset growth than 97% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

81st percentile

45%

Faster revenue growth than 81% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,377,176

Up $866,259 (+170%) from 2023

Liabilities

Up

$184,302

Up $26,083 (+16%) from 2023

Net Assets

Up

$1,192,874

Up $840,176 (+238%) from 2023

Revenue

Up

$1,930,375

Up $601,920 (+45%) from 2023

Expenses

Down

$1,090,466

Down $259,131 (-19%) from 2023

Net Income

Up

$839,909

Up $861,051 (+4073%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2010: $324,346Liabilities 2010: $145,246Net Assets 2010: $179,1002010Assets 2011: $345,593Liabilities 2011: $175,886Net Assets 2011: $169,7072011Assets 2012: $217,371Liabilities 2012: $60,174Net Assets 2012: $157,1972012Assets 2013: $260,515Liabilities 2013: $126,272Net Assets 2013: $134,2432013Assets 2014: $282,453Liabilities 2014: $89,675Net Assets 2014: $192,7782014Assets 2015: $308,465Liabilities 2015: $95,212Net Assets 2015: $213,2532015Assets 2016: $246,445Liabilities 2016: $81,630Net Assets 2016: $164,8152016Assets 2017: $238,243Liabilities 2017: $94,145Net Assets 2017: $144,0982017Assets 2018: $271,545Liabilities 2018: $60,143Net Assets 2018: $211,4022018Assets 2019: $199,199Liabilities 2019: $59,750Net Assets 2019: $139,4492019Assets 2020: $463,356Liabilities 2020: $47,666Net Assets 2020: $415,6902020Assets 2021: $475,105Liabilities 2021: $22,868Net Assets 2021: $452,2372021Assets 2022: $466,626Liabilities 2022: $92,614Net Assets 2022: $374,0122022Assets 2023: $510,917Liabilities 2023: $158,219Net Assets 2023: $352,6982023Assets 2024: $1,377,176Liabilities 2024: $184,302Net Assets 2024: $1,192,8742024

Highlighted filing

2024

Assets$1,377,176
Liabilities$184,302
Net Assets$1,192,874

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0MExpenses 2010: $807,0712010Expenses 2011: $856,5952011Expenses 2012: $872,9092012Revenue 2013: $928,732Expenses 2013: $929,994Net Income 2013: -$1,2622013Revenue 2014: $982,750Expenses 2014: $924,868Net Income 2014: $57,8822014Revenue 2015: $994,434Expenses 2015: $1,000,834Net Income 2015: -$6,4002015Revenue 2016: $1,079,399Expenses 2016: $1,127,837Net Income 2016: -$48,4382016Revenue 2017: $1,037,314Expenses 2017: $1,066,604Net Income 2017: -$29,2902017Revenue 2018: $1,214,698Expenses 2018: $1,172,871Net Income 2018: $41,8272018Revenue 2019: $1,220,945Expenses 2019: $1,321,919Net Income 2019: -$100,9742019Revenue 2020: $1,396,794Expenses 2020: $1,125,556Net Income 2020: $271,2382020Revenue 2021: $689,722Expenses 2021: $842,924Net Income 2021: -$153,2022021Revenue 2022: $1,060,128Expenses 2022: $1,128,678Net Income 2022: -$68,5502022Revenue 2023: $1,328,455Expenses 2023: $1,349,597Net Income 2023: -$21,1422023Revenue 2024: $1,930,375Expenses 2024: $1,090,466Net Income 2024: $839,9092024

Highlighted filing

2024

Revenue$1,930,375
Expenses$1,090,466
Net Income$839,909

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.38$0.18$1.19$1.93$1.09$0.84
2023Detailed filing. Detailed filing data is available for this year.$0.51$0.16$0.35$1.33$1.35$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.47$0.09$0.37$1.06$1.13$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.02$0.45$0.69$0.84$0.15
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.46$0.05$0.42$1.40$1.13$0.27
2019Detailed filing. Detailed filing data is available for this year.$0.20$0.06$0.14$1.22$1.32$0.10
2018Detailed filing. Detailed filing data is available for this year.$0.27$0.06$0.21$1.21$1.17$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.24$0.09$0.14$1.04$1.07$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.25$0.08$0.16$1.08$1.13$0.05
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.31$0.10$0.21$0.99$1.00$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.28$0.09$0.19$0.98$0.92$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.26$0.13$0.13$0.93$0.93$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.06$0.16$0.87
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.18$0.17$0.86
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.15$0.18$0.81
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2024
Return Version
2023v6.0
Gross Receipts
$1,930,375
Mission and Program 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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$183,298$883,614▲ $700,316
Cash and Non-Interest-Bearing Accounts$303,460$259,400▼ $44,060
Land, Buildings, and Equipment, Net$15,617$187,724▲ $172,107
Accounts Receivable$8,542$31,143▲ $22,601
Total Assets$510,917$1,377,176▲ $866,259
Other Assets Total-$15,295-
Liabilities
Deferred Revenue$143,382$111,827▼ $31,555
Other Liabilities-$61,176-
Accounts Payable and Accrued Expenses$14,837$11,299▼ $3,538
Total Liabilities$158,219$184,302▲ $26,083
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$352,698$1,192,874▲ $840,176
Total Net Assets Fund Balance$352,698$1,192,874▲ $840,176
Total Liabilities and Net Assets / Fund Balance$510,917$1,377,176▲ $866,259
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Nadjette LazzouniPrincipalFT$89,503$89,503

Board Members and Trustees

NameTitle
Rashid KhanPresident
Abubakkar SiddiqDirector
Alaa Abou MahmoudClerk
Omar RafikSecretary
Zaheer ShaikTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$294,078
Program Service Revenue
$1,507,141
Investment Income
$129,156
Other Revenue
$0
All Other Contributions
$294,078
Change in Net Assets
$839,909
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$737,729
Other Expenses$352,737
Total Fundraising Expense$63,131
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$474,918$168,101$6,538$649,557
Payroll Taxes$72,301$14,989$882$88,172
Occupancy$69,240$1,194$668$71,102
Fees for Services Other$58,487$10,794$635$69,916
Office Expenses$29,633$63$35$29,731
Insurance$14,495$3,065$177$17,737
Depreciation Depletion$10,810$186$104$11,100
Other Expenses$5,388$1,997$118$5,388
All Other Expenses-$200-$200
Total Functional Expenses$826,746$200,589$63,131$1,090,466
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$57,632
Accrued Expenses$3,544
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The returns are reviewed by finance department and finance director before filing.

Form 990, Page 6, Part VI, Line 19

The documents are made available to public upon request.

Filing and Contact Details

Filer

Filer Name
Merrimack Valley Islamic Academy in
EIN
04-3549933
Phone
9789757335
Address
125 OAKLAND AVE, METHUEN, MA 01844

Signing Officer

Name
Zaheer Shaik
Title
Treasurer
Phone
9789757335
Signed
2024-05-13

Organization Details

Principal Officer
Rashid Khan
Formed
2001
Legal Domicile
Ma
Voting Board Members
12
Independent Board Members
12
Employees
50
Volunteers
200

Preparer

Firm
EZ Tax & Accounting Services Inc
Address
759 BOSTON RD, BILLERICA, MA 01821-5930
Preparer
Azmeena M Pathan
Phone
6177445290
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.

Form 990, Page 2, Part III, Line 4D

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 169 students.

Form 990, Part XI, Line 9

Book / tax depreciation difference -1

Raw XML Appendix348 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE POLICY IS LISTED OUT ON THE WEBSITE AND OTHER MATERIALS SUCH AS BROCHURES.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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 169 STUDENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE RETURNS ARE REVIEWED BY FINANCE DEPARTMENT AND FINANCE DIRECTOR BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE DOCUMENTS ARE MADE AVAILABLE TO PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE -1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/USAddress/AddressLine1Txt041 VILLAGE VIEW RD
IRS990/USAddress/CityNm0WESTFORD
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IRS990/USAddress/ZIPCd001886
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IRS990/WebsiteAddressTxt0WWW.TIAPEACE.ORG
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ZAHEER SHAIK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09789757335
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MERRIMACK VALLEY ISLAMIC ACADEMY IN
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0THE ISLAMIC ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0MERR
ReturnHeader/Filer/EIN0043549933
ReturnHeader/Filer/PhoneNum09789757335
ReturnHeader/Filer/USAddress/AddressLine1Txt0125 OAKLAND AVE
ReturnHeader/Filer/USAddress/CityNm0METHUEN
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0264735121
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EZ TAX & ACCOUNTING SERVICES INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0759 BOSTON RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BILLERICA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0018215930
ReturnHeader/PreparerPersonGrp/PhoneNum06177445290
ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AZMEENA M PATHAN
ReturnHeader/ReturnTs02025-05-15T09:59:28-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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