Islamic University of Minnesota

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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

2013

Legal Domicile

Principal Officer

Khalid Omar

Phone

6122240094

Tax Period

2023-01-01 to 2023-12-31

Islamic University of Minnesota, founded in 2013, is a small nonprofit in the Education sector that reported $369K in total revenue in fiscal year 2023. Revenue surged 50% from the prior year, signaling strong growth momentum. Expenses of $353K left a modest 4% surplus.

Mission

To disseminate religious knowledge in the Muslim as well as non-Muslim community To expand the circle of Islamic religious awareness, spread the teaching of Islam from its genuine sources.

Program Service Accomplishments

Program 1

The purpose of IUM is to disseminate religious knowledge in the Muslim as well as non-Muslim community, expand the circle of Islamic religious awareness, spread the teaching of Islam from its genuine sources and introduce qualified graduates in the field of Islamic Education. With this in mind it endeavors to fulfill the needs of Islamic centers and Islamic schools for qualified workers in the fields of teaching, propagation and religious leadership.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $368,960

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $368,960

Expense Breakdown

Grants Paid $0

Salaries & Benefits $305,211

Fundraising Expenses $0

Other Expenses $47,602

TOTAL EXPENSES $352,813

Year-over-Year Comparison

	2023	2022	Change
Revenue	$368,960	$246,203	+0.5%
Expenses	$352,813	$383,820	-0.1%
Net Income	$16,147	$-137,617	-1.1%

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

Governance

Voting Members

Independent Members

Employees

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

Total Directors

$49,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Waleed E Meneese	Chairman	040.00	Director	$49,000	$0	$49,000
Khalid Omar	Board Member	010.00	Director	$0	$0	$0
Saciid Shire	Treasurer	010.00	Director	$0	$0	$0
Mohamed Omar	Secretary	010.00	Director	$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
2023	$368,960	$352,813	$91,471	$16,147
2022	$246,203	$383,820	$74,913	$-137,617
2021	$421,825	$344,543	$212,325	$77,282
2020	$365,217	$241,401	$140,499	$123,816
2019	$279,032	$278,110	$24,600	$922
2018	$334,015	$330,315	$27,416	$3,700