NATIONAL ZAKAT FOUNDATION (NZF)
Financial health, per its FY2024 accounts
The accounts state that the charity generated a net incoming resource surplus of £1,285,964 for the year ended 31 December 2024, with total unrestricted reserves of £2,118,953. Per the trustees' report, these unrestricted reserves exceed the stated policy target of three months of non-distribution costs, which was set at £678,000 for the year. The trustees confirmed there are no material uncertainties regarding the charity's ability to continue as a going concern.
What the accounts disclose
“The number of employees with emoluments between £60,000 to £70,000 per annum” — page 54
“The number of employees with emoluments between £60,000 to £70,000 per annum” — page 54
“In 2024, NZF paid £24,000 (2023: £24,000) to NZF Worldwide in License Fees as part of a brand licensing agreement and £24,000 (2023: £28,494) to NZF Worldwide as part of a Service Level Agreement. A further £30,000 was paid in 2024 in relation to 2023 expenditure.” — page 59
“During 2024, NZF entered into two investment arrangements through OFFA, a related party. As at end of the year, £111,272 was held with OFFA as investments and income of £3,943 was received in the year.”
“In 2024, NZF paid £24,000 (2023: £24,000) to NZF Worldwide in License Fees as part of a brand licensing agreement and £24,000 (2023: £28,494) to NZF Worldwide as part of a Service Level Agreement. A further £30,000 was paid in 2024 in relation to 2023 expenditure.” — page 59
“During 2024, NZF entered into two investment arrangements through OFFA, a related party. As at end of the year, £111,272 was held with OFFA as investments and income of £3,943 was received in the year.”
“In 2024, NZF paid £24,000 (2023: £24,000) to NZF Worldwide in License Fees as part of a brand licensing agreement and £24,000 (2023: £28,494) to NZF Worldwide as part of a Service Level Agreement. A further £30,000 was paid in 2024 in relation to 2023 expenditure.” — page 59
“During 2024, NZF entered into two investment arrangements through OFFA, a related party. As at end of the year, £111,272 was held with OFFA as investments and income of £3,943 was received in the year.”
Year-over-year changes
- Employees paid over £60,000: 0 (FY2023) → 2 (FY2024).
Corporate structure
- Registered company of the charity Companies House 08536743
Leadership, per the charity’s website
- Mufti Amjad Mohammed — Chief Sharia Officer
Structured financials (annual return, FY ending 31/12/2024)
Register events
- Received assets from another charity (24/02/2022)
Trustees
- SULTAN CHOUDHURYchair
- Anisa Hanif
- Shiraz HUSSAIN
- shorful islam
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £10.2m | £8.9m |
| 31/12/2023 | £9.0m | £9.7m |
| 31/12/2022 | £7.8m | £7.5m |
| 31/12/2021 | £6.3m | £5.7m |
| 31/12/2020 | £6.3m | £5.2m |
Common questions
Is NATIONAL ZAKAT FOUNDATION (NZF) financially healthy?
The accounts state that the charity generated a net incoming resource surplus of £1,285,964 for the year ended 31 December 2024, with total unrestricted reserves of £2,118,953. Per the trustees' report, these unrestricted reserves exceed the stated policy target of three months of non-distribution costs, which was set at £678,000 for the year. The trustees confirmed there are no material uncertainties regarding the charity's ability to continue as a going concern. Its FY2024 accounts were audited by Sayer Vincent LLP.
What does the highest-paid employee of NATIONAL ZAKAT FOUNDATION (NZF) earn?
Per its FY2024 accounts, the highest-paid employee was in the £60,001 - £70,000 band, and 2 employees earned over £60,000.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| GIVE A GIFT | 1 | £10k |
| ZAIMAH | 1 | £150 |