Learn how IAR spends your valuable ammanah.
We are so close to opening our second campus: IAR @ Page! While construction is always expensive, we were blessed when a community stepped forward to support the expansion via a murabaha contract. This investment in the future of community will serve as an amazing 25 acre center for the next generation of our community. We look forward to opening the site for the community to offer five daily prayers, Jumma, and taraweeh/programs before Ramadan.
In a strategic financial move, our masjid made significant strides in its real estate investments and endowment growth. In 2014, we acquired a property at 122 International Drive for $835,000, which turned out to be a wise investment. After nearly a decade, in 2023, we sold this property for approximately $1.6 million . The substantial revenue from this sale was entirely directed into our masjid's endowment, bolstering its financial stability and future prospects. Additionally, we sold another property located at 0 Tryon Rd for $411,000. From this sale, we allocated $282,592 to our endowment, further enhancing our financial foundation. These prudent real estate transactions underscore our commitment to the long-term financial health and sustainability of our masjid, ensuring we can continue to serve our community effectively.
The IAR Cemetery's recent expansion from 500 to 2000 graves, costing $196,000, marks a significant development in its history. This expansion reflects the community's commitment to serving its growing needs, ensuring more individuals have a final resting place in this respected site. It symbolizes the community's dedication to honoring and preserving memories of the deceased, demonstrating respect and care for its members across generations.
We are delighted to highlight the amazing work of our community in this impact report.