2024 Financial Reports

Interactive summaries of ICSP’s 2024 income, sadaqah, and expenses for full transparency.

Income Breakdown (2024)

Sources include general donations, Quran school support, fundraising, sadaqah, and seasonal activities.

  • Major sources: general donations, fundraising, and Quran school donations; smaller shares from sadaqah, iftar, and summer camp.
How to read this:

  • Sadaqah and zakat al-mal are restricted funds and are not used for operations.
  • “2023 School Expansion (carry-in)” reflects funds received in a prior year but recognized here as income to the building account.
Definitions

Quran school: Tuition & donations supporting teachers, curriculum, and classroom needs.

Sadaqah / Zakat: Charity for those in need; zakat al-fitr is a specific distribution around Ramadan.

Tip: hover or tap the chart to see exact amounts and percentages.

Total Expenses (2024)

Operating and program costs including Quran school, payroll, insurance, utilities, janitorial, maintenance, and community programs.

Important context:

  • No board members are paid. Payroll covers staff (teachers, janitorial, admin, imam/principal as applicable).
  • Sadaqah distributions are pass-through: collected for charity and then disbursed, not retained for operations.
  • Some costs are timing-based (e.g., insurance renewals, repairs) and may be higher or lower in a given year.

Program-Focused Spending (2024)

Direct community impact by program area: Quran school, sadaqah, events, maintenance & janitorial, operations, and education/seminars.

  • Quran school
  • Operations (insurance + payroll + utilities)
  • Maintenance & janitorial
  • Sadaqah/charity
  • Events (Eid + guest speakers + da‘wah)
  • Education/seminars
Notes:

  • Operations groups essential ongoing costs; it does not include capital projects.
  • Program totals exclude restricted charity funds except where disbursed.

Income vs. Expenses (2024)

A year-end comparison of total inflows and outflows.

Avoiding common misconceptions:

  • A deficit does not mean funds were misused; it often reflects planned investment in people, programs, and repairs.
  • Restricted donations (e.g., sadaqah/zakat) are distributed according to donor intent and not used to cover operating gaps.

Historical Trend (2015–2024)

Year-over-year totals for income, expenses, and net income to provide long-term context.

Context for trends:

  • Year-to-year changes can reflect timing of major bills, special projects, or one-time repairs.
  • Income variations often track Ramadan seasonality and specific fundraising campaigns.

Notes: Figures reflect ICSP accounting records for calendar year 2024. Minor rounding may occur. For questions or documentation review, please contact the ICSP finance team.