Endowment

 

One of our main goals is to implement Waqfs/Endowments in our Muslim Communities, so our Islamic schools can prosper and thrive without high tuition cost or require ongoing donations.  The Waqf is an integral part of the success of the school, so that the school can be a Quality driven one, not a Budget driven one. With high academic standards expected, we plan to have high quality teachers and materials, both of which require additional expense. Not only will all our children benefit from the Waqf, but their children, and generations to come.

Target: Our target is to have a Waqf in place, that can cover at least 50% of the annual school budget each year. As school grows, the Waqf will need to increase as well. All donations to the school are tax deductible. If you are interested to participate in growing and establishing the school, and setting in place a great foundation for a well funded and established school, please let us know.

History of Waqfs:

By the year 850, students traveled all over the Muslim world for learning, secure in the knowledge that not only would their education be free, but they would also be provided free food and lodging because of the waqfs that were in place. When the people in Europe decided to make their own colleges, they copied the universities they found in Muslim Spain, including the idea of endowments/waqfs (as demonstrated by Oxford in England with its endowments).

Later the Ottomans developed the organization of waqfs and had them supporting not only schools and mosques but many other institutions. Today in Istanbul, you can see the shopping “malls” at the edge of many mosques and schools whose income is used to support these institutions for the common good.

 

 

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