Overview
What is At-Takaful Islamic Society?
At-Takaful Islamic Society, established in Chicago, serves as a hub for religious affairs. Their primary activities involve offering Quranic teachings, facilitating prayer congregations, providing funeral services, and managing zakat collection and distribution. The society's mission is to cater to the spiritual needs of its community, enriching their faith journey and promoting communal bonding.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52%, One-Star out of Four Star rating.
At-Takaful Islamic Society has received a low rating of 52%, which indicates significant concerns regarding its accountability and financial practices. The organization lacks independent board members, which raises questions about oversight and governance. Additionally, crucial financial statements are not available, impacting transparency and trust.
Despite these challenges, the society demonstrates some positive financial indicators, such as a low liabilities to assets ratio of 7.22% and a program expense ratio of 78.17%, suggesting that a substantial portion of its expenditures is directed towards programs rather than administrative costs. However, the absence of key policies like conflict of interest, whistleblower, and document retention further undermines its operational integrity.
Overall, while At-Takaful Islamic Society allocates a commendable percentage of its budget to program expenses, the lack of transparency and independent oversight highlights areas needing improvement to gain greater trust and accountability from potential donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is At-Takaful Islamic Society legitimate?
At-Takaful Islamic Society is a legitimate nonprofit organization registered as a 501(c)(3) entity. At-Takaful Islamic Society submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $149,887
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What is the mission statement of At-Takaful Islamic Society?
At-Takaful Islamic Society, based on the provided information, is primarily focused on religious affairs. Their mission involves providing various religious services. They offer Quranic teaching, facilitate prayer congregations, manage funeral services, and are responsible for zakat collection and distribution. In essence, their mission is to cater to the spiritual needs of their community by providing religious education, worship opportunities, and supporting charitable contributions.
Who is the CEO of At-Takaful Islamic Society?
Masood Ali is the President of At-Takaful Islamic Society.
What is the revenue of At-Takaful Islamic Society?
At-Takaful Islamic Society's revenue in 2022 was $725,033.
Who are the executives of At-Takaful Islamic Society and what are their salaries?
The average compensation at At-Takaful Islamic Society during 2022 was $29,977. There are 5 employees and 30 volunteers at At-Takaful Islamic Society.
Here are 6 key members and their salaries:
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Where can I find the form 990 for At-Takaful Islamic Society?
At-Takaful Islamic Society's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of At-Takaful Islamic Society
At-Takaful Islamic Society, a nonprofit organization, is dedicated to religious affairs. Its primary mission encompasses providing Quranic teaching, facilitating prayer congregations, managing funeral services, and overseeing zakat collection and distribution. This religious organization offers a range of services aimed at fulfilling the spiritual needs of its community. Through Quranic teaching, individuals can deepen their understanding of Islamic principles and values. Prayer congregations provide a communal space for worship and fellowship. Funeral services ensure that the deceased are accorded respectful and dignified send-offs, while zakat collection and distribution help distribute wealth equitably within the community, in accordance with Islamic teachings.
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Impact
October, 2024
At-Takaful Islamic Society significantly impacts the community by providing essential religious services that foster spiritual growth and support among its members. In Chicago, it offers Quranic teaching that enhances religious knowledge and understanding, ensuring that the teachings of Islam are accessible to all. The society organizes prayer congregations, which strengthen community ties and encourage collective worship, essential for building a united and active community.
Furthermore, At-Takaful facilitates funeral services, addressing the needs of families during their most challenging times with compassion and dignity. This service ensures that community members receive proper support and guidance in accordance with Islamic traditions.
The society also plays a crucial role in zakat collection and distribution, promoting the principles of charity and social responsibility. By managing these charitable contributions, At-Takaful helps alleviate poverty and support those in need within the community, fostering a sense of solidarity and mutual assistance. Overall, At-Takaful Islamic Society serves as a pivotal institution in Chicago, enhancing the spiritual and social welfare of its members through a range of comprehensive religious services.
This information is meant to be a general summary of At-Takaful Islamic Society. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,841
- Gross Receipts: $725,033
Assets and Liabilities:
- Total Assets: $3,763,967
- Total Liabilities: $272,068
- Net Assets: $3,491,899
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Organization Details
Founding Year
1990
Phone
(773) 989-9330Principal Officer
Masood Ali
Main Address
5933 N LINCOLN AVE, CHICAGO, IL, 60659
NTEE Category
Code: X40 - Religion related
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