Nonprofit · EIN 87-1522506
ITSAMVTINC
Tax-exempt · JACKSONVILLE, FL 32207
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,465,127 | $1,495,576 | -$30,449 | $240,254 | $351,584 | -$111,330 |
| December 31, 2024 | 990 | $512,794 | $522,580 | -$9,786 | $0 | $9,786 | -$9,786 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $14,919
- Program service revenue
- $1,447,778
- Investment income
- $2,430
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $157,699
- Other salaries and wages
- $426,012
- Salaries, compensation and benefits (total)
- $627,913
- Professional fundraising fees
- $0
- Legal fees
- $11,899
- Accounting fees
- $2,222
- Occupancy
- $444,584
- Travel
- $34
- Program services (functional)
- $1,466,192
- Management and general (functional)
- $29,384
Balance sheet and other
- Total assets, start of year
- $280,236
- Total assets, end of year
- $240,254
- Total liabilities, end of year
- $351,584
- Net assets, end of year
- -$111,330
- Net assets without donor restrictions
- -$111,330
- Gross unrelated business income
- $2,430
- Gross receipts
- $1,465,127
- Employees
- 26
- Volunteers
- 0
- Year formed
- 2021
- State of legal domicile
- FL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Wael Obeid | IT System Admin Trustee or director, Institutional trustee, Officer, Key employee, Highest-paid employee | 40 | $60,651 |
| Mohamed Arab | Principal Trustee or director, Institutional trustee, Officer, Key employee, Highest-paid employee | 40 | $58,147 |
| Essa Arab | Facility Director Trustee or director, Institutional trustee, Officer, Key employee | 40 | $38,901 |
| Shaheed Arab | Secretary Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Mohamed Arab | Principal Trustee or director, Institutional trustee, Officer, Key employee, Highest-paid employee | 40 | $24,430 |
| Wael Obeid | IT System Admin Trustee or director, Institutional trustee, Officer, Key employee, Highest-paid employee | 40 | $24,294 |
Address and contacts
- Address (IRS master file)
- 5940 BEACH BLVD, JACKSONVILLE, FL 32207-5167
- In care of
- % WAEL OBEID
- Mailing address (990-N for 2023)
- 4441 Wesconnett Blvd, Jacksonville FL 32210
- Principal officer (990 for 2025)
- Wael OBEID, 5940 BEACH BLVD STE A, JACKSONVILLE, FL 32207
- Principal officer (990-N for 2023)
- Wael OBEID, 2304 SAINT JOHNS BLUFF RD S, APT 2107, JACKSONVILLE FL 32246
- Signed the 990
- Wael Obeid, CFO
- Phone
- (904) 980-8337
Mission
The mission of ITSAMVT INC is to empower communities through education and development by operating MY ACADEMY MY COLLEGE MY UNIVERSITY and other initiatives. We aim to cultivate good citizens who embody academic excellence moral values American principles and community engagement following the Prophetic example of kindness and respect.
Program accomplishments
- In 2024 MY ACADEMY a prominent private Islamic school in Jacksonville FL enhanced its K-12 education by integrating Islamic values. The school grew its facilities introduced specialized programs and planned to offer transportation services for wider student accessibility emphasizing personalized learning and community impact to develop future leaders.Expenses $1,466,192 · grants $4,305 · revenue $1,447,778
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-N on file |
IRS record
- EIN
- 87-1522506
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Religion-related (X40)
- Assets (IRS master file)
- $240,254
- Income (IRS master file)
- $1,465,127
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,465,127 | $1,495,576 | $240,254 | XML |
| 990 | December 2024 | $512,794 | $522,580 | $0 | IRS |
| 990-N for 2023 Officer: Wael OBEID | December 31, 2023 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2022 Officer: Wael OBEID | December 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 87-1522506).
Questions about ITSAMVTINC
- What is the EIN of ITSAMVTINC?
- The employer identification number (EIN) of ITSAMVTINC is 87-1522506.
- Is ITSAMVTINC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to ITSAMVTINC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ITSAMVTINC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ITSAMVTINC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ITSAMVTINC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of ITSAMVTINC?
- The 990 for the year ended December 31, 2025 names Wael OBEID.
- Who are the officers and directors of ITSAMVTINC?
- The 990 for the year ended December 31, 2025 lists 4 people; 3 received compensation from the organization, the highest $60,651 (Wael Obeid, IT System Admin).
- How much revenue does ITSAMVTINC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,465,127, expenses of $1,495,576 and total assets of $240,254 at year end.
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