Jafari No-Interest Credit Union
- Assets
- $2.3m
- Revenue
- $84.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 10/2016
- Data as of
- 12/2023
- EIN
- 81-1523850
Organization Overview
Jafari No-Interest Credit Union is located in Houston, TX. The organization was established in 2016. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Jafari No-Interest Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2023, Jafari No-Interest Credit Union generated $84.0k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $41.1k during the year ending 12/2023. While expenses have increased by 6.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
A STATE-CHARTERED CREDIT UNION, PROVIDING FEDERALLY INSURED SAVINGS ACCOUNTS TO MEMBERS, AND PROVIDING LOANS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAVINGS ACCOUNTS: MEMBER ACCOUNTS 398 TOTAL DEPOSITS $1,810,839
PROVIDE NO-INTEREST LOANS: TOTAL LOANS $826,559
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Azmat Tejani Director | Trustee | 2 | $0 |
Ali Oonwala Supervisory Committe Chairmam | Trustee | 3 | $0 |
Imran Dhanji President | OfficerTrustee | 6 | $0 |
Faiyaz Bhojani Director | Trustee | 2 | $0 |
Ali Rizvi Vice-President | OfficerTrustee | 2 | $0 |
Mohammed Mithani Vice-President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $24,172 |
| Investment income | $59,825 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $83,997 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $18,300 |
| Information technology | $13,770 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,177 |
| All other expenses | $7,820 |
| Total functional expenses | $41,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,755 |
| Savings and temporary cash investments | $1,411,308 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $803,439 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $500 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,262,007 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,810,839 |
| Total liabilities | $1,810,839 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $451,168 |
| Total liabilities and net assets/fund balances | $2,262,007 |