2023 Financial Reports

Interactive summaries of ICSP’s 2023 income, sadaqah, and expenses.

Income Breakdown (2023)

Income in 2023 included general donations, support for the Quran school, endowment proceeds, sadaqah & zakat (restricted), and designated building/renovation funds.

  • General donations and endowment proceeds are the primary sources that sustain ongoing operations.
  • Quran school donations directly support teaching and educational activities.
  • Sadaqah & zakat are restricted funds — collected for the needy and not used for payroll, utilities, or maintenance.
  • Building/renovation funds are designated for capital projects and may be moved to separate accounts until used.
How to read this:

  • Restricted funds (sadaqah/zakat and building/renovation) follow donor intent and do not subsidize routine operations.
  • Endowment proceeds support operations while preserving the principal long-term.
  • Income spikes can reflect specific campaigns or timing (e.g., Ramadan).

Total Expenses (2023)

Expenses include Quran school (teachers, supplies, program costs), operations (payroll, insurance, utilities), maintenance & janitorial, community events, and a significant capital project related to the student mosque renovation.

  • The student mosque renovation was a planned, one-time capital expense that meaningfully increases the total for 2023.
  • Operations cover essential services (staffing, insurance, utilities) required to run daily programs and maintain safety.
  • Maintenance & janitorial reflect facility upkeep for prayer, classes, and events.
  • Sadaqah distributions represent pass-through charity to those in need — they are not administrative overhead.
Important context:

  • No board members are paid. Payroll covers only staff roles (e.g., teachers, admin, janitorial, imam/principal as applicable).
  • Capital projects are budgeted separately from operations; comparing a capital year to a non-capital year will naturally show a spike.
  • Small admin lines (e.g., bank service charges) are included and documented.

Program-Focused Spending (2023)

Direct community impact by program area: Quran school, sadaqah, events, maintenance & janitorial, operations, and education/seminars — plus the student mosque renovation (capital).

  • Quran school remains a top community priority, reflected in teacher support and learning resources.
  • Operations combine core, ongoing costs required to keep the center open and safe.
  • Maintenance & janitorial ensure a clean, functional space for worship and classes.
  • Events (Eid, guest speakers, da‘wah) are intentionally modest and mission-aligned.
  • Sadaqah is shown when disbursed, honoring donor-restricted purposes.
  • Capital spending (renovation) is separated so it doesn’t get confused with routine operations.
Notes:

  • Program totals are grouped for readability; detailed sub-categories are available in the underlying ledger.
  • Restricted inflows (sadaqah/building) are not mixed with operations; they appear only when spent per donor intent.

Income vs. Expenses (2023)

Year-end comparison of total inflows and outflows. A capital project year can show a gap even when operations are on budget.

  • A difference between income and expenses this year is driven primarily by the one-time renovation, not by routine overspending.
  • Designated funds (building, sadaqah, endowment support) are applied only to their intended purposes.
Avoiding misconceptions:

  • A deficit in a capital year reflects investment in facilities that serve the community for years, not a structural problem with operations.
  • Operations remain tightly managed; documentation (receipts, payroll, approvals) is kept for all disbursements.

Historical Trend (2015–2023)

Long-term context helps explain single-year spikes: capital projects, seasonal campaigns, and Ramadan giving cycles can all shift a year’s totals.

Context for trends:

  • One-time projects (like renovations) create visible peaks in expenses relative to adjacent years.
  • Income often rises during Ramadan and specific campaigns; that seasonality is normal for community centers.

Notes: Figures reflect ICSP accounting records for calendar year 2023. Minor rounding may occur. For supporting documentation or questions, please contact the ICSP finance team.