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FINANCIAL STATUS

IFN Endowment Fund Files

By law, IFN is required to provide the following documents pertaining to their Endowment Fund Status. Click below to view.

Islamic Foundation North Endowment Fund Files 2016

Treasurer's Annual Report (as of 12/31/2015)

AssalamoAlaykum my fellow IFN Community Members,

I hope that this email reaches to find you and your family in the best of health and spirits, In Shaa Allah.

I am reaching out to you to inform you that Tax Certificate for your contribution to IFN for 2015 is being mailed to you, albeit, some folks may already have received through emails due to the availability of their emails, Alhamdulillah. We sincerely appreciate your contributions and In Shaa Allah we look forward to your continuing supports to IFN.  

Details of the Annual Treasurer's Report are available for members by request only. It should be known that in 2015 efforts have been made to manifest 4 Years Balance Sheets and 4 Years Expenses Details so the community can gauge our performance through observed long term trends. Alhamdulillah, we were able to ensure that our 2015 actual expenses were reasonable in terms of our requirement not exceeding the highest for prior 3 years for each line time for most categories. This was achieved through working in concert with Team Leads of various committees, endeavoring to make all events and programs self-sustaining (atleast 70% per IFN’s Strategic Vision (Alhamdulillah, was able to achieve this for IFN’s signature events and activities)) to the utmost extent possible. We are thankful to all volunteers who sincerely cooperated with us in these regards. Alhamdulillah, IFN is blessed to have these dedicated volunteers who continue to have a proprietary disposition on behalf of IFN, Ma Shaa Allah.

As for the major milestone, Alhamdulillah we were able to complete the Phase 1 of  our Major Building Expansion during 2015 with the intention of completing Phase 2 during 2016, In Shaa Allah.

In Shaa Allah, we will continue to harness the synergies developed since taking over the mantle in concert with the  New fellow EC members, with a focus toward quality in everything we do, In Shaa Allah. I am also thankful to the previous fellow EC members for according their full support during the previous 2 years, Al Hamdu Lillah.

Please do not hesitate to reach out to me: either calling me at 630 439 5786 or writing to me at arif@ifnonline.com:

  • If you do not receive your certificate within a week or have any clarifications on the tax certificate; and
  • If you need more information on the state of financial affairs of IFN.

In conclusion, I am thankful to you all for giving me an opportunity to be the Treasurer of IFN and allowing me to be of service to you all.

Jazaqullahe Khayren.

Best regards,

Arif Khairuddin CPA, CISA, FCA
630 439 5786

Financial Audit Results (as of 11/03/2015)

Per the bylaws, a financial audit must be performed every two years. Alhamdulillah, the 2012-2013 audit has been completed and the auditor's report is available for community members to review. 

If a member is interested to review these documents please stop by the IFN Office. Availability of these documents is for members and is an attempt to increase transparency by IFN Leadership by hiring Certified Public Accountants firm as independent auditors. 

InshaAllah, the plan is to complete the 2014-2015 financial statements which will be audited in Q1 of 2016. We make dua for those involved in our Finance Committee, Treasurer, and all members who provided the information and worked with the auditors to complete this audit.

If any member would like details regarding IFN's financial status, please contact the IFN Treasurer for details. 

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