Transparency & Governance
Al-Furqaan Foundation is committed to upholding the highest standards of transparency and ethical governance in all aspects of its operations. We believe that openness and accountability strengthen public trust and reflect the integrity of our mission. We provide access to key organizational information that reflects our stewardship of charitable resources and the trust placed in us by our donors and supporters.
Our governance structure is guided by a dedicated Board of Directors who oversee the organization’s strategic direction, policy oversight, financial integrity, and compliance with all legal and ethical standards. We provide public access to our mission, leadership, and financial information to ensure trust in our work. Below is a summary of our key governance documents and policies:
1. Board of Directors
Our Board of Directors provides strategic oversight and guidance for all programs and operations. A list of board members with their titles is available [here].
2. IRS Determination
Al-Furqaan Foundation is recognized as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. A summary statement of our IRS determination is available upon request.
3. Privacy and Data Policy
We are committed to protecting the privacy of our supporters and website visitors. Our full privacy and data policy is available [here].
4. Mission Statement and Program Descriptions
Our mission is to [insert concise mission statement], and our programs focus on [brief program descriptions]. Detailed program information is available upon request.
5. Summary of Current Financial Statements
We maintain financial accountability by tracking all revenues and expenses. A high-level summary of our current financial statements is available, while full audited reports are kept internally and provided to regulators or funders upon request. [See note].
6. Conflict of Interest and Whistleblower Policies
We maintain policies to ensure ethical governance and accountability. Summary statements of these policies are available publicly, while signed disclosure forms or confidential reports are kept internal and available upon request.
7. Documented Governance Practices
Al-Furqaan Foundation is governed by a Board of Directors that meets regularly to oversee the organization’s programs, finances, and policies. The Board follows documented governance procedures to ensure accountability, compliance with laws, and ethical management of resources. Summaries of board decisions and governance practices are maintained internally and are available upon request.
8. Executive Compensation
Compensation for our top executives is determined by the Board following established policies and benchmarks to ensure fairness and compliance with legal requirements. Detailed compensation information is maintained internally and can be provided upon request.
Note: OPTIONAL SUGGESTED TEMPLATE
Al-Furqaan Foundation – 2024 Financial Audit Summary
Al-Furqaan Foundation’s financial statements for the year ending December 31, 2024 were audited by an independent accounting firm. The auditors concluded that the statements fairly present the Foundation’s financial position in accordance with generally accepted accounting principles.
Financial Highlights:
● Total Revenue: $XXX,XXX (primarily from donations and grants)
● Total Expenses: $XXX,XXX
○ Program Activities: 85%
○ Administrative Costs: 10%
○ Fundraising: 5%
● Net Assets / Fund Balances: $XXX,XXX
The audit confirms that Al-Furqaan Foundation continues to maintain a strong financial position, enabling us to carry out our programs and mission effectively.
This summary is provided for transparency purposes. The full audited financial statements are maintained internally and are available to the Board, auditors, and regulatory authorities as required.
