CHARLOTTE ISLAMIC ACADEMY INC

EIN: 261116585 501(c)(3) Education

CHARLOTTE, NC

Total Revenue
$1,652,009
Total Expenses
$1,718,553
Total Assets
$219,457
Net Assets
$-93,791
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
NC
Principal Officer
FADEL ALSHALABI
Phone
7045039102
Tax Period
2024-01-01 to 2024-12-31

CHARLOTTE ISLAMIC ACADEMY INC, founded in 2007, is a community nonprofit in the Education sector that reported $1.7M in total revenue in fiscal year 2024. Revenue surged 32% from the prior year, signaling strong growth momentum.

Mission

THE SCHOOL IS AN ACCREDITED COMPREHENSIVE COMMUNITY SCHOOL WITH COLLEGE PREPARTORY FOCUS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,117,469
Program Service Revenue $534,540
Investment Income $0
Other Revenue $0
TOTAL REVENUE $1,652,009

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,001,652
Fundraising Expenses $0
Program Expenses $1,590,010
Other Expenses $716,901
TOTAL EXPENSES $1,718,553

Year-over-Year Comparison

2024 2023 Change
Revenue $1,652,009 $1,249,093 +0.3%
Expenses $1,718,553 $1,348,558 +0.3%
Net Income $-66,544 $-99,465 -0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
1
Independent Members
1
Employees
63
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FADEL ALSHALABI CHAIRMAN OF N/A
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $1,652,009 $1,718,553 $219,457 $-66,544
2023 $1,249,093 $1,348,558 $167,888 $-99,465
2022 $973,723 $936,341 $72,218 $37,382
2021 $757,696 $779,176 $34,836 $-21,480
2020 $609,299 $628,183 $178,416 $-18,884
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