Endowment Services
Endowment Services
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Why should your masjid or organization have an endowment?
Why should your masjid or organization have an endowment?
An endowment, or waqf, has been a cornerstone of Islamic civilization, providing a unique structure where the underlying asset is preserved, and proceeds are used for charitable work. An endowment provides a stable financial foundation for your masjid or organization, ensuring long-term sustainability and enabling the funding of both specific projects and general operations.
Why choose Iqamah Group?
Why choose Iqamah Group?
Establishing a successful endowment requires expertise, time, and resources. Iqamah Group has extensive experience in setting up endowments for Islamic institutions, with a deep understanding of Sharia-compliant financial practices. We offer expert guidance and support through every step of the endowment creation process, from legal setup and developing policies to strategic investment management and providing advisory services. While we don’t handle the funds directly, we connect your masjid with reputable Shariah-compliant fund managers who specialize in managing endowments. Our commitment to community upliftment ensures that these services are provided not for profit, but to enhance the financial stability of your masjid or organization. Iqamah Group can help you start and operate an endowment so your masjid or organization can achieve financial security and sustainability.
Please email us at info@iqamahgroup.org to schedule a detailed presentation for more information.
Endowment FAQs
Endowment FAQs
How is the endowment funded?
How is the endowment funded?
Endowment funds can be started with donations, grants, and targeted fundraising campaigns. Iqamah Group offers guidance, including tips and best practices, to help masjids present the endowment to their community effectively and maximize its impact.
What types of investments are made?
What types of investments are made?
Investments typically include a mix of real estate, mutual funds, and other Sharia-compliant financial instruments to ensure steady growth and income
What fees are involved?
What fees are involved?
As we are a nonprofit organization, Iqamah Group does not charge any service fees. All professional fees such as legal fees to attorneys will be paid directly by your masjid or organization.
How long does it take?
How long does it take?
Establishing an endowment typically takes 6-12 months, depending on filing procedures, legal requirements, and policy development
Are there any risks involved?
Are there any risks involved?
There are no risks to the masjid or organization for starting an endowment. Investment risks are minimized through diversified portfolios and conservative investment strategies.
What if the masjid or organization needs the funds?
What if the masjid or organization needs the funds?
The endowment’s purpose is to preserve assets and use proceeds for community needs. Policies can be established to allow emergency access under specific conditions if the organization or masjid's existence is endangered.
Who manages the funds?
Who manages the funds?
The endowment funds will be managed in alignment with the policies established at its founding. Iqamah Group does not manage the funds directly but will connect masjids with reputable, Sharia-compliant fund managers. These professionals will develop a diversified investment strategy tailored to the specific goals and vision of the masjid, ensuring the endowment is managed responsibly and effectively to achieve long-term financial growth.
What security measures are taken?
What security measures are taken?
To ensure the safety of endowment funds, Iqamah Group only refers masjids to thoroughly vetted, Sharia-compliant fund managers. These professionals adhere to strict regulatory standards, use secure technology, conduct regular audits, and implement diversified investment strategies to minimize risks. The endowment is managed with transparency, accountability, and the highest ethical standards.
How do we protect the assets?
How do we protect the assets?
Assets are protected through the endowment structure, diversified strategies, and strict compliance with legal and financial regulations.
What are the tax repercussions on the income?
What are the tax repercussions on the income?
Endowments are tax-exempt and offer significant tax benefits to masjids and organizations. We provide guidance on minimizing tax liabilities and ensuring compliance with tax laws.
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