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Nonprofit · EIN 87-2255824

USUL ACADEMY

Tax-exempt · LOMBARD, IL 60148

Financials

$440K$279K2023$801K$290K2024
Revenue Expenses · by fiscal year end
Financials of USUL ACADEMY by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$801,169$289,882$511,287$719,193$0$719,193
December 31, 2023990$440,148$279,137$161,011$207,906$0$207,906
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$801,169
Program service revenue
$0
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$0
Other salaries and wages
$66,000
Salaries, compensation and benefits (total)
$71,049
Professional fundraising fees
$0
Accounting fees
$12,175
Travel
$492
Program services (functional)
$260,895
Management and general (functional)
$28,987

Balance sheet and other

Total assets, start of year
$207,906
Total assets, end of year
$719,193
Total liabilities, end of year
$0
Net assets, end of year
$719,193
Net assets without donor restrictions
$719,193
Gross receipts
$801,169
Employees
0

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, 2024, highest compensation first.

NameTitleHours / weekCompensation
Hooman KeshavarziTreasurer
Trustee or director, Officer
10$0
Recep SenturkPresident
Trustee or director, Officer
40$0
Necva SolakSecretary
Trustee or director, Officer
10$0
Yasar ColakDirector
Trustee or director
10$0
Furkan SenturkDirector
Trustee or director
10$0
990 for the year ended December 31, 2023: 5 people
NameTitleHours / weekCompensation
Hooman KeshavarziTreasurer
Trustee or director, Officer
10$0
Recep SenturkPresident
Trustee or director, Officer
40$0
Necva SolakSecretary
Trustee or director, Officer
10$0
Yasar ColakDirector
Trustee or director
10$0
Furkan SenturkDirector
Trustee or director
10$0

Address and contacts

Address (IRS master file)
998 N LOMBARD RD, LOMBARD, IL 60148-1264
Signed the 990
Furkan Senturk, Director
Phone
(718) 644-2442
Return prepared by
C & A Financial

Mission

Usul Academy aims to deliver classical madrasa education, as well as contemporary subjects within an Islamic framework. Our courses are offered online for students across the globe, with opportunities for face-to-face learning in Istanbul. Usul Academy currently offers a BA and MA in Comparative Islamic Studies in which students study traditional Islamic disciplines and social sciences from a comparative perspective. We also offer a 1-year Academic Arabic Program.

990 for the year ended December 31, 2024

Program accomplishments

  • - Successfully carrying on our Arabic program and 5 years Usul Program - Admitting new students for our 2023 cohort- Organizing Usul Talks (guest lectures)- Offering scholarships to students from the US and around the world- Releasing our weekly Newsletter
    Expenses $260,895

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
87-2255824
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)
Education (B90)
Assets (IRS master file)
$719,193
Income (IRS master file)
$801,169

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$801,169$289,882$719,193XML
990December 2023$440,148$279,137$207,906XML
990December 2022$220,555$264,136$64,105IRS
990-EZDecember 2021–––IRS

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 87-2255824).

Questions about USUL ACADEMY

What is the EIN of USUL ACADEMY?
The employer identification number (EIN) of USUL ACADEMY is 87-2255824.
Is USUL ACADEMY tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
Are donations to USUL ACADEMY tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does USUL ACADEMY 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 USUL ACADEMY due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did USUL ACADEMY last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who are the officers and directors of USUL ACADEMY?
The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
How much revenue does USUL ACADEMY have?
On its 990 for the year ended December 31, 2024 it reported revenue of $801,169, expenses of $289,882 and total assets of $719,193 at year end.

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