2023-10-30T15:38:55-05:00 2022-12-31 420714325 RSM US LLP 1250 H STREET SUITE 700 WASHINGTON DC 20005 990 2022-01-01 471666091 IRUSA WAQF IRUS 7037207202 3655 WHEELER AVE ALEXANDRIA VA 22304 ARAIF YUSUFF ACTING CEO, IRUSA 7037207202 2023-10-30 1 ARAIF YUSUFF XXX-XX-XXXX 1 MEREDITH BELL P01696827 2022932200 2023-10-30 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z IRUSA WAQF FAISAL KHAN 3655 WHEELER AVE ALEXANDRIA VA 22304 343090 0 X WWW.IRUSAWAQF.ORG X 2014 VA ESTABLISH A POOL OF CAPITAL THAT ENSURES THE LONG-TERM SUSTAINABILITY OF ISLAMIC RELIEF USA (IRUSA) AND ENABLES THE CHARITY IN ACHIEVING ITS OBJECTIVES. 4 4 1 4 0 0 2324737 79348 0 0 1260171 -1144245 136070 136070 3720978 -928827 0 0 0 0 219820 392714 0 0 629164 298768 236450 518588 629164 3202390 -1557991 17701945 15482332 23547 2155439 17678398 13326893 X ESTABLISH A POOL OF CAPITAL THAT ENSURES THE LONG-TERM SUSTAINABILITY OF IRUSA AND ENABLES THE CHARITY IN ACHIEVING ITS OBJECTIVES. 0 0 IRUSA WAQF IS MEANT TO ACT AS AN ENDOWMENT FUND TO SUPPORT THE CHARITABLE ACTIVITIES OF ISLAMIC RELIEF USA, A 501(C) (3) ORGANIZATION AND TO SERVE AS A VEHICLE FOR DONORS TO BE ABLE TO DONATE ASSETS THAT WILL GENERATE REVENUE THAT WILL FUND THE CHARITABLE MISSION OF ISLAMIC RELIEF USA. IRUSA WAQF WILL SOLICIT DONATIONS FROM DONORS WHO WISH TO FULFILL THE CHARITABLE GIVING ENCOURAGED BY THE RELIGION OF ISLAM THAT ENCOURAGES ITS FOLLOWERS TO GIVE "SADAQAH JARIA OR CHARITABLE GIFTS THE BENEFITS OF WHICH ARE EXPECTED TO EXTEND PAST THE GIVER'S LIFETIME. IN THE TRADITION OF ISLAM, BENEFACTORS WOULD GRANT OR BEQUEATH PROPERTY FOR THE BENEFIT OF THE WHOLE COMMUNITY IN PERPETUITY. IN MODERN TIMES, THIS TYPE OF GIVING CAN BE FULFILLED BY GIVING TO OTHER VEHICLES, LIKE AN ENDOWMENT FUND, THAT WILL MANAGE THE CHARITABLE INTENT OF THE GIFT IN PERPETUITY.THE SOLE PURPOSE OF THE IRUSA WAQF IS TO HOLD THE ENDOWMENT ASSETS FOR THE BENEFIT OF ITS SUPPORTED ORGANIZATION, ISLAMIC RELIEF USA. IRUSA WAQF WILL MAKE GIFTS, DONATIONS AND OTHER TRANSFERS FROM THE ENDOWMENT ASSETS TO ISLAMIC RELIEF USA AS ITS SUPPORTED ORGANIZATION AS THE IRUSA WAQF'S BOARD OF DIRECTORS DEEMS APPROPRIATE IN FURTHERANCE OF THE PURPOSES OF ISLAMIC RELIEF USA'S MISSION.IRUSA WAQF WILL MANAGE THE ASSETS INTENDED TO PRESERVE THE PRINCIPAL AND GENERATE REVENUE FOR THE USE OF ISLAMIC RELIEF USA IN ITS PROGRAMS. ONCE A THRESHOLD OF REVENUE IS REACHED THAT WILL ALLOW THE CORPUS OF THE ENDOWMENT FUND TO CONTINUE IN ACCORDANCE WITH PRUDENT INVESTMENT STANDARDS, THE EXCESS REVENUE WILL BE TRANSFERRED TO ISLAMIC RELIEF USA FOR DISBURSEMENT TO ITS BENEFICIARIES IN THE FORM OF GRANTS OR DIRECT ASSISTANCE.ISLAMIC RELIEF USA'S INTERNATIONAL AND DOMESTIC CHARITABLE ACTIVITIES INCLUDE EMERGENCY RESPONSE TO NATURAL AND MAN-MADE DISASTERS, DELIVERY OF HUMANITARIAN AID TO CIVILIANS, DEVELOPMENT PROJECTS INCLUDING WATER, SANITATION, AND HYGIENE PROJECTS, VOCATIONAL AND TECHNICAL EDUCATION, AND MICRO-LOAN POVERTY ALLEVIATION PROGRAMS. 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 AL AR CA FL GA HI IL KS KY MA MD MI MS MN NJ NH NM NY OK OR PA RI SC TN UT VA WI WV X X TAREQ OSMAN CPA CONTROLLER OF ISLAMIC RELIEF USA 7037207202 3655 WHEELER AVE ALEXANDRIA VA 22304 SAQIB RASHID BOARD CHARIMAN 3.00 X X 0 0 0 SAMI SHABAN DIRECTOR 3.00 X 0 0 0 AMIR MEMON DIRECTOR 3.00 X 0 0 0 KHALED LAMADA DIRECTOR THRU 10/21/22 3.00 3.00 X 0 0 0 SHARIF ALY CEO OF IRUSA 3.00 40.00 X 0 193449 42073 SHERIF AHMED COO OF IRUSA 3.00 40.00 X 0 157646 37259 TAREQ OSMAN CONTROLLER OF IRUSA 3.00 40.00 X 0 176425 32988 FAISAL KHAN DIR. STRATEGIC PARTNERSHIPS 40.00 X 212099 0 17206 ASHAR AKHTAR GENERAL COUNSEL OF IRUSA 10.00 40.00 X 31200 153424 46901 243299 680944 176427 1 0 1 0 0 79348 79348 136070 0 136070 136070 136070 127672 1271917 -1144245 -1144245 -1144245 -928827 0 0 -1008175 223023 223023 113406 113406 29994 29994 26291 26291 20790 20790 6930 6930 61752 61752 57148 57148 5500 5500 24195 24195 1284 1284 2210 2210 23851 23851 14433 14433 14250 14250 OTHER EXPENSES 4107 4107 629164 0 0 629164 4150650 4950274 181557 30798 888202 53775 848860 834427 1060698 961438 11460180 8705395 17701945 15482332 23547 47535 0 2107904 23547 2155439 X 17678398 13326893 17678398 13326893 17701945 15482332 -1557991 -2793514 0 X 0 1 X 1 0 X X X 1 ISLAMIC RELIEF USA 954453134 7 1 629164 0 1 629164 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17678399 2323322 -3938079 574934 53911 15434797 11845213 2460807 3891001 303372 215250 17678399 8441042 1813564 1949313 311200 47506 11845213 8013803 86621 705509 319836 45090 8441007 8121348 12181 96442 164076 52092 8013803 1.00000 0 0 887348 52921 834427 854 854 0 834427 ALTERNATIVE INVESTMENT 8705395 F 8705395 DUE TO ISLAMIC RELIEF USA 2107904 2107904 X 118824330 119753157 119753157 -928827 0 -928827 104288247 103659083 103659083 629164 0 629164 PART V, LINE 4: THE SOLE PURPOSE OF IRUSA WAQF IS TO HOLD THE ENDOWMENT ASSETS FOR THE BENEFITS OF ITS SUPPORTED ORGANIZATION, ISLAMIC RELIEF USA. IRUSA WAQF WILL MAKE GIFTS, DONATIONS AND OTHER TRANSFERS FROM THE ENDOWMENT ASSETS TO ISLAMIC RELIEF USA AS ITS SUPPORTED ORGANIZATION AS THE IRUSA WAQF'S BOARD OF DIRECTORS DEEM APPROPRIATE IN FURTHERANCE OF THE PURPOSES OF ISLAMIC RELIEF USA'S MISSION. PART X, LINE 2: IRUSA IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, IRUSA QUALIFIES FOR CHARITABLE CONTRIBUTIONS DEDUCTIONS AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. INCOME THAT IS NOT RELATED TO EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. THERE WAS NO NET TAX LIABILITY FOR UNRELATED BUSINESS INCOME TAX AT DECEMBER 31, 2022. MANAGEMENT HAS EVALUATED IRUSA'S TAX POSITIONS AND HAS CONCLUDED THAT IRUSA HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE GUIDANCE FOR UNCERTAINTY IN INCOME TAXES. IRUSA FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTIONS. GENERALLY, IRUSA IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITY REVENUE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 119,753,157. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITY EXPENSES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 103,659,083. X X X 0 0 0 0 0 0 0 1 0 SHARIF ALY CEO OF IRUSA 0 172726 0 20659 0 64 0 0 0 42251 0 235700 0 0 ASHAR AKHTAR GENERAL COUNSEL OF IRUSA 31200 137187 0 16173 0 64 0 7965 0 39071 31200 200460 0 0 FAISAL KHAN DIR. STRATEGIC PARTNERSHIPS 212035 0 0 0 64 0 10924 0 6282 0 229305 0 0 0 TAREQ OSMAN CONTROLLER OF IRUSA 0 157827 0 18534 0 64 0 10548 0 22599 0 209572 0 0 SHERIF AHMED COO OF IRUSA 0 123366 0 0 0 34280 0 7398 0 29967 0 195011 0 0 PART I, LINE 3 IRUSA WAQF COMPENSATES ONLY ONE EMPLOYEE. DIRECTORS ARE NOT COMPENSATED. ALL OTHER OFFICERS SHOWN IN PART VII OF THE FORM 990 AND IN PART II OF SCHEDULE J ARE PAID BY RELATED ORGANIZATION, ISLAMIC RELIEF USA. THE RELATED ORGANIZATION'S METHODOLOGY OF DETERMINING COMPENSATION ARE AS FOLLOWS: THE BOARD OF DIRECTORS REVIEW RECOMMENDED COMPENSATION LEVELS IN LIGHT OF THE RELATED ORGANIZATION, ISLAMIC RELIEF USA. THE BOARD OF DIRECTORS TAKES INTO ACCOUNT THE FOLLOWING DATA POINTS TO DETERMINE APPROPRIATE COMPENSATION PACKAGES: PRIOR JOB HISTORY, COMPETING OFFERS, RELEVANT SALARY SURVEYS, IRS FORM 990 FROM SIMILARLY SITUATED ORGANIZATIONS, ALONG WITH OTHER COMPARABLE COMPONENTS THEREOF. THESE DELIBERATIONS ARE RECORDED IN CONTEMPORANEOUS MINUTES. COMPENSATION OF THE CEO AND OTHER OFFICERS OF THE ORGANIZATION ARE APPROVED BY IRUSA'S BOARD OF DIRECTORS. PART I, LINE 7 BONUSES ARE PAID AS A PERCENTAGE OF SALARY BASED ON AN ANNUAL PERFORMANCE EVALUATION SUBJECT TO BUDGET AVAILABILITY AND BOARD APPROVAL. FORM 990, PART VI, SECTION A, LINE 6 ISLAMIC RELIEF USA, A CALIFORNIA NONPROFIT CORPORATION EXEMPT FROM FEDERAL INCOME TAX, (HEREINAFTER "MEMBER") SHALL BE THE SOLE MEMBER OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A ISLAMIC RELIEF, AS THE SOLE MEMBER, HAS THE POWER TO APPOINT BOARD MEMBERS OF IRUSA WAQF. FORM 990, PART VI, SECTION A, LINE 7B GOVERNANCE DECISIONS ARE SUBJECT TO APPROVAL BY ISLAMIC RELIEF USA. FORM 990, PART VI, SECTION B, LINE 11B THE IRS FORM 990 IS REVIEWED INTERNALLY BY THE FINANCE AND LEGAL DEPARTMENTS. IT IS THEN SUBMITTED TO THE BOARD OF DIRECTORS FOR FINAL REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REVIEW THE CONFLICT OF INTEREST POLICY PREPARED BY EXTERNAL LEGAL COUNSEL, ANNUALLY. THE CONFLICT OF INTEREST STATEMENT IS COMPLETED AND SIGNED BY ALL BOARD OF DIRECTORS AND OFFICERS ANNUALLY. CONFLICT OF INTEREST DISCLOSURES ARE MADE BY KEY EMPLOYEES, REVIEWED BY HUMAN RESOURCES AND SHARED WITH KEY EMPLOYEE'S SUPERVISOR IF IT APPEARS THAT THE EMPLOYEE WOULD BE INVOLVED IN DECISION-MAKING THAT COULD RESULT IN A CONFLICT. THE ORGANIZATION MAINTAINS INTERNAL CONTROLS AND POLICIES THAT FACILITATE ENFORCEMENT WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS REVIEW RECOMMENDED COMPENSATION LEVELS IN LIGHT OF THE RELATED ORGANIZATION, ISLAMIC RELIEF USA. THE BOARD OF DIRECTORS TAKES INTO ACCOUNT THE FOLLOWING DATA POINTS TO DETERMINE APPROPRIATE COMPENSATION PACKAGES: PRIOR JOB HISTORY, COMPETING OFFERS, RELEVANT SALARY SURVEYS, IRS FORM 990 FROM SIMILARLY SITUATED ORGANIZATIONS, ALONG WITH OTHER COMPARABLE COMPONENTS THEREOF. THESE DELIBERATIONS ARE RECORDED IN CONTEMPORANEOUS MINUTES. COMPENSATION OF THE CEO AND OTHER OFFICERS OF THE ORGANIZATION ARE APPROVED BY IRUSA'S BOARD OF DIRECTORS.THESE DELIBERATIONS ARE RECORDED IN CONTEMPORANEOUS MINUTES. COMPENSATION OF THE DIRECTOR AND OTHER OFFICERS OF THE ORGANIZATION ARE APPROVED BY IRUSA WAQF'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 IRUSA WAQF FINANCIAL STATEMENTS ARE AVAILABLE AT: HTTP://WWW.IRUSAWAQF.ORG. GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT: REGISTRATIONS@IRUSAWAQF.ORG, FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). ISLAMIC RELIEF USA 3655 WHEELER AVE ALEXANDRIA VA 22304 954453134 RELIEF AND DEVELOPMENT CA 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 1 ISLAMIC RELIEF USA R 2107904 CASH ISLAMIC RELIEF USA J 136070 INVOICE ISLAMIC RELIEF USA P 6526 INVOICE