This study analyzes the revenue structure, trends, and sustainability of Al-Faisal College, a prominent private Islamic educational institution in New South Wales, Australia, to understand its financial management within a secular, developed-country context. Using a descriptive qualitative approach, this research conducted a documentary analysis of official secondary data from the Australian Charities and Not-for-profits Commission (ACNC) and the school’s internal annual reports from 2021 to 2025, while applying Resource Dependency Theory (RDT) to interpret the findings. The results reveal a paradoxical funding pattern where gross revenue is dominated by Gvernment Grants (over 84%), while student fees account for only 12–14.5%, a structure driven by the low Capacity to Contribute (CTC) score within Australia's Schooling Resource Standard (SRS) framework. In conclusion, while this public funding ensures institutional stability and provides a vital social safety net for the Muslim minority community, the extreme reliance on a single external donor poses long-term macro-political risks to institutional autonomy; therefore, strategic revenue diversification is recommended to mitigate these vulnerabilities.
