HOW IT WORKS
Instead of leaving your savings in a bank that builds non-halal interest, putting your savings in a waqf (halal trust) will allow financial experts to invest and grow your wealth for you and your family while providing ongoing charity to the Muslim community.
FREQUENTLY ASKED QUESTIONS
What is a waqf or endowment?
It is a fund made up of gifts and assets that will be invested to benefit investing donors as well as a donor-specified charitable organization.
How will my investment be used?
The profits made from the investment fund will be used to make ISBCC self-sustaining and be used to cover the operation and maintenance costs of the ISBCC. This will, inshaAllah, reduce the frequency of requests for individual donations.
How do I make an investment?
Simply visit our online form at www.isbcc.org/endowment and mail us a voided check (see address at back). You can also drop by our office and complete the form and attach to it a voided check. Please don’t hesitate to contact us (see number at back) if you need further information.
Do I get tax benefits for my investment?
Yes, you can defer taxes for the term of the trust or receive deductions upfront.
What happens at the end of the term?
You can choose to have the funds returned to you or reinvest the funds to benefit your children at a very low gift or estate tax cost.
How will my investment impact the community?
You will be contributing to the sustained growth and flourishing of one of America’s landmark Muslim institution to benefit tens of thousands of Muslims in Greater Boston and be an example for others.
TESTIMONIALS
“The concept of an endowment was initially foreign and confusing to me, though not anymore alhamdulillah. My savings will finally be invested in a halal way and inshaAllah benefit the community that means the most to me rather than benefit strangers in corporate banking.” - Sr. Naseem Kabir from Woburn, MA
“I was happy to learn that Legacy Wealth Management will be entrusted to invest my money. I know first-hand that these are professionals who are experts in what they do.” – Br. Anwar Kazmi from Brookline, MA
“With small children, I am looking forward to growing my wealth and inshaAllah in 10 years be able to help support my children’s college education. This endowment is a wonderful blessing to our community. May Allah reward those who initiated this waqf.” - Dr. Khaled Yehia from Lexington, MA
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