The funding for your Masjid is partially provided by an endowment that has grown over the years. This endowment comprises numerous generous donations, with many aimed at supporting various aspects of IAR’s community initiatives. These contributions collectively create a lasting financial foundation, bridging our diverse community with ongoing opportunities at IAR, both now and in the future.
IAR’s Endowment belongs to the current and future generations of our community – our children, our parents, our leaders, our Imams and our volunteers. It supports almost every aspect of IAR’s work.
See where your valuable ammanah is spent.
your Masjid’s annual operating expenses in the 2022 fiscal year.
revenue on investments this year
size of IAR’s Endowment to date
Our endowment is built to last indefinitely, providing ongoing support for future IAR generations. We’re dedicated to carefully managing it to ensure lasting benefits. Your support is vital for this enduring legacy.
Each of the options below provides unique benefits to you and your family as well as your masjid. Click to get started.
Your masjid has partnered to offer sharia compliant online will and trust planning
Support your masjid via a zero interest loan.
Join your masjid by becoming a partner in our endowment.
The combination of Sharia-compliant investing principles and wise investment decisions has propelled the IAR (Islamic Association of Raleigh) endowment to achieve an impressive annualized growth rate of 15.31%. By adhering to the principles of Sharia law, which prohibit investments in certain sectors such as alcohol, gambling, and pork-related industries, the endowment has maintained ethical and socially responsible investment practices. Additionally, the IAR’s commitment to making wise investment decisions has ensured a well-diversified portfolio, strategic asset allocation, and diligent risk management. These factors, combined with the expertise of skilled investment managers, have enabled the IAR endowment to generate consistent growth while upholding its Islamic values.
Waqf in Islam: In Islam, an endowment is known as “waqf” or “awqaf” in Arabic.
Purpose of Waqf: It refers to a charitable act of dedicating a property, land, or assets for the benefit of a specific cause or purpose, typically of a religious, educational, or social nature.
Permanently Dedicated: The endowment becomes permanently dedicated to the intended purpose, preserving the principal amount.
Utilization of Benefits: The profits or benefits generated from the endowment are utilized for the designated beneficiaries or the ongoing maintenance and development of the endowment.
Significance in Islam: Waqf holds significant importance in Islamic history and society, serving as a means to support various communal needs.
Traditional Uses: Traditionally, it has been used to establish and maintain mosques, schools, hospitals, orphanages, libraries, and other public facilities.
Continuous Flow of Resources: The endowment ensures the continuous flow of resources and benefits to the designated beneficiaries, while the original capital remains intact.
Establishment: Waqf can be established by individuals during their lifetime or through testamentary provisions in their wills.
Ongoing Charity: It is seen as a form of ongoing charity (sadaqah jariyah) that continues to benefit people long after the benefactor’s passing.
Administration and Management: The administration and management of waqf properties are typically overseen by appointed trustees or religious authorities who ensure its proper functioning and adherence to the intentions of the endower.
Philanthropic Legacy: Overall, endowments or waqf in Islam provide a mechanism for individuals to support philanthropic causes and contribute to the betterment of society by creating lasting charitable legacies.
Absolutely, we understand that unexpected financial emergencies can arise, and we want to provide flexibility to our generous supporters. In the case of a loan, you can request an early return of the funds within 60 days without any penalties. We believe in supporting our community in times of need, and this option ensures that your financial interests are protected.
Yes, we acknowledge the importance of estate planning. If a loan contributor unfortunately passes away before the loan matures, the repayment of the loan funds will be handled in accordance with their will. The funds will be returned to the deceased’s estate, ensuring that their intentions are respected and their legacy is preserved.
For Mudaraba investments, the minimum amount required is $10,000, allowing us to pool resources effectively for impactful projects within the community. As for the term, the Mudaraba investment is structured for a specific duration until maturity, and details will be provided upon your participation.
Yes, transparency is crucial to us. To keep our investors informed and engaged, we will send out quarterly newsletters that provide updates on the progress of Mudaraba investments. This way, you can stay well-informed about the initiatives your investment is supporting and the positive impact it is creating.
Yes, for both loans and Mudaraba investments, we require the full contribution amount to be provided upfront. This allows us to effectively manage and allocate the funds for their intended purposes within the community.
We are exploring options for IRA transfers, and more information will be provided in the future. Stay tuned for updates on how you can contribute through your IRA.
Profits from our partnership investments are distributed at the end of the investment’s maturity period. This ensures that the returns are accurately calculated and fairly distributed among the partners, providing a clear and transparent approach to profit-sharing.
In Islam, an endowment is known as “waqf” or “awqaf” in Arabic. It refers to a charitable act of dedicating a property, land, or assets for the benefit of a specific cause or purpose, usually of a religious, educational, or social nature. The endowment becomes permanently dedicated to the intended purpose and the principal amount is preserved, while its profits or benefits are utilized for the designated beneficiaries or the ongoing maintenance and development of the endowment.
Waqf holds significant importance in Islamic history and society, as it serves as a means to support various communal needs. It has been used traditionally to establish and maintain mosques, schools, hospitals, orphanages, libraries, and other public facilities. The endowment ensures the continuous flow of resources and benefits to the designated beneficiaries, while the original capital remains intact.
Waqf can be established by individuals during their lifetime or through testamentary provisions in their wills. It is seen as a form of ongoing charity (sadaqah jariyah) that continues to benefit people long after the benefactor’s passing. The administration and management of waqf properties are typically overseen by appointed trustees or religious authorities who ensure its proper functioning and adherence to the intentions of the endower.
Overall, endowments or waqf in Islam provide a mechanism for individuals to support philanthropic causes and contribute to the betterment of society by creating lasting charitable legacies.
Many endowments, including IAR’s, are structured to exist in perpetuity, meaning that the institution must continue to rely on the endowment’s earnings forever.
Because of this, our endowment is not only for today’s generation, but is for all future generations of IAR’s community. Guided by this principle of intergenerational equity, IAR’s endowment is carefully managed in order to ensure that future generations will enjoy its benefits just as much as the current one.
Mosque Operations and Maintenance: The endowment can contribute to the ongoing operational expenses of the mosque, such as utilities, staff salaries, security, and general maintenance. This ensures that the mosque remains functional and well-maintained, providing a welcoming and comfortable space for worshipers.
Educational Programs: IAR may offer various educational programs to community members of all ages, including Quranic studies, Islamic classes, Arabic language courses, and youth programs. The endowment can support the development and sustainability of these educational initiatives, covering expenses such as curriculum development, teacher salaries, classroom resources, and technology.
Community Services: The endowment can be used to fund community services and social welfare programs, such as financial assistance for those in need, counseling services, health clinics, and support for refugees and new immigrants. These services aim to address the practical needs of community members and promote their overall well-being.
Youth and Family Programs: IAR may organize activities and programs specifically tailored to youth and families, fostering a sense of community, providing mentorship, and promoting positive values and behaviors. The endowment can support these initiatives by covering expenses related to event planning, guest speakers, workshops, recreational activities, and counseling services.
Interfaith and Outreach Initiatives: The endowment may contribute to interfaith dialogues, partnerships with other religious and community organizations, and outreach programs aimed at promoting understanding, cooperation, and positive engagement with the broader society. This may involve hosting events, sponsoring community projects, or supporting initiatives that promote mutual respect and social harmony.
IAR’s endowment offers our community the ability to create “restricted” funds. This means that donors have specified that their gift must support a particular aspect of our masjid’s work, from specific recurring bills to named committees and dedicated scholarships for tarbiya and hifz. These philanthropic gifts are critical to many areas of our work, each with a unique person and story behind it.
Endowment Board of Trustees
Term: 5 years (2022-2027)
Fundraising Manager: Kashif Osamn
Consultants: Don Kandel, Yaser Ali
We rely on our generous community to create a lasting impact and ensure the continuous operations of your Masjid as the gathering place, school, and house of worship for Muslims across the Triangle.
Those who spend their wealth in charity day and night, secretly and openly—their reward is with their Lord, and there will be no fear for them, nor will they grieve.”
– The Holy Quran 2:274
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