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Home / Get Involved / Waqf & Endowment
Waqf & Endowment
What legacy will you leave?
Your masjid is funded in part by an endowment built from many generous gifts over the years. Its principal is preserved, and its returns support IAR's work for this generation and the ones after it.
“When a man dies, only three deeds will survive him: continuing alms, profitable knowledge, and a child praying for him.”
A waqf is the clearest form of continuing alms — sadaqah jariyah — a gift that keeps giving long after the giver has passed.
The Prophet ﷺSahih MuslimA future trust
An endowment that belongs to every generation
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.
Like many endowments, IAR's is structured to exist in perpetuity: the masjid relies on its earnings indefinitely. Guided by this principle of intergenerational equity, the endowment is managed carefully so that future generations benefit from it just as much as this one.
Together, the gifts that make up the endowment create a lasting financial foundation, connecting our diverse community with opportunities at IAR now and in the future.
By the numbersFiscal year 2022
$3.92MSize of IAR's endowment
$3.22MAnnual operating expenses of your masjid
$1.47MRevenue on investments for the year
See where your amanah is spent.Read the Annual Report
Waqf in Islam
What is waqf?
In Islam, an endowment is known as waqf (plural awqaf). It is a charitable act of dedicating property, land, or assets to a specific cause — usually religious, educational, or social. The endowment is permanently dedicated to that purpose: the principal is preserved, and its profits or benefits go to the designated beneficiaries or to maintaining and developing the endowment itself.
Waqf holds a significant place in Islamic history and society. It has traditionally been used to establish and maintain masjids, schools, hospitals, orphanages, libraries, and other public facilities — a continuous flow of benefit while the original capital stays intact.
A waqf can be established during one's lifetime or through provisions in one's will. It is a form of ongoing charity, sadaqah jariyah, that continues to benefit people long after the giver has passed.
Waqf assets are overseen by appointed trustees who ensure they function properly and honor the intentions of the person who gave them. In every era, waqf has been a way for individuals to support lasting causes and leave a charitable legacy for their community.
Where it goes
What your endowment preserves
Endowment returns help sustain five areas of IAR's work.
MasjidOperations and maintenance
Utilities, staff salaries, security, and general upkeep — so both campuses stay functional, well-maintained, and welcoming to everyone who comes to pray.
Religious ProgramsEducation for all ages
Qur'anic studies, Islamic classes, Arabic courses, and youth education — including curriculum development, teacher salaries, classroom resources, and technology.
YouthYouth and family programs
Activities, mentorship, workshops, guest speakers, and recreation that build a sense of community and positive values for young people and families.
CommunityCommunity services
Financial assistance for those in need, counseling services, health programs, and support for refugees and new immigrants.
OutreachInterfaith and outreach
Interfaith dialogue, partnerships with other faith and community organizations, and outreach that builds understanding and mutual respect with our wider community.
You can direct your gift
The endowment lets donors create restricted funds — gifts dedicated to a particular part of the masjid's work, from specific recurring bills to named committees and dedicated scholarships for tarbiya and hifz. Each of these funds has a person and a story behind it.
Shared growth
Three ways to build the endowment
The endowment is built to last indefinitely. Each option below benefits you and your family as well as your masjid.
Interest-Free Loan
Qard hasan
Support your masjid with a zero-interest loan.
- Contribution
- Full amount upfront
- Early return
- Available on request in an emergency
- If you pass away
- Returned to your estate per your will
Mudaraba
Profit-sharing partnership
Join your masjid by becoming a partner in our endowment.
- Minimum
- $10,000, paid upfront
- Term
- Fixed; details provided when you join
- Updates
- Quarterly newsletter
- Profits
- Distributed at maturity
Want to talk through these options?
Book a meeting with the endowment team. We'll help you find the option that fits you and your family.
Endowment FAQs
Common questions
Loans and Mudaraba
What if I have a financial emergency before my loan or Mudaraba matures?
Unexpected emergencies happen, and we want to give our supporters flexibility. For a loan, you can request an early return of your funds within 60 days, without penalty. This protects your financial interests while you support the masjid.
What happens if I pass away before my loan or Mudaraba matures?
The funds are returned to your estate and handled according to your will (assuming IAR is not an heir), so your intentions are respected and your legacy preserved.
Is there a minimum amount or term for Mudaraba?
The minimum Mudaraba investment is $10,000, which lets us pool resources effectively for projects that serve the community. Each Mudaraba has a fixed term until maturity; details are provided when you join.
How can I track my Mudaraba investment?
Partners receive a quarterly newsletter with updates on the progress of Mudaraba investments and the initiatives they support.
When are partnership profits paid?
Profits are distributed at the end of the investment's maturity period. This keeps returns accurately calculated and fairly shared among partners.
Do I have to give the full amount at once?
Yes. Both loans and Mudaraba require the full contribution upfront, so the funds can be managed and allocated effectively for their intended purpose.
Giving to the endowment
Can I direct my gift to a specific purpose?
Yes. You can create a restricted fund dedicated to a particular part of the masjid's work — a recurring bill, a named committee, or a scholarship for tarbiya or hifz. Book a meeting with the endowment team to set one up.
Can I transfer my IRA without paying taxes?
We are exploring options for IRA transfers. Sign up for endowment updates to hear when this becomes available.
Stewardship
Who is behind the endowment
An independent Board of Trustees oversees the endowment on behalf of the community.
Endowment Board of Trustees
Term 2022–2027HA
Hesham AbdelbakyTrustee
MD
Muamar DahnounTrustee
MQ
Muquarrab QureshiTrustee
NK
Nadia KhanTrustee
AQ
Ahmad QuqaTrustee
- Fundraising Manager
- Kashif Osman
- Consultants
- Don Kandel, Yaser Ali
Diligent growth
Shariah-compliant, carefully managed
The endowment follows Shariah-compliant investing principles, which exclude sectors such as alcohol, gambling, and pork-related industries, keeping its investments ethical and socially responsible.
Alongside those principles, the endowment is managed for a well-diversified portfolio, strategic asset allocation, and diligent risk management. Together with skilled investment managers, this approach has allowed the endowment to grow steadily while upholding its Islamic values — an annualized growth rate of 15.31%.
Talk to the team
Questions about how the endowment is governed or invested?
Become part of something more
Keep the masjid open for the next generation
We rely on our generous community to create a lasting impact and keep your masjid running as a gathering place, school, and house of worship for Muslims across the Triangle.
ٱلَّذِينَ يُنفِقُونَ أَمْوَٰلَهُم بِٱلَّيْلِ وَٱلنَّهَارِ سِرًّا وَعَلَانِيَةً فَلَهُمْ أَجْرُهُمْ عِندَ رَبِّهِمْ وَلَا خَوْفٌ عَلَيْهِمْ وَلَا هُمْ يَحْزَنُونَ “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 Qur'an 2:274
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Prayer Times & Jumu'ah Schedule
Daily iqamah is the same at both campuses. Jumu’ah speakers differ — check the campus tab.
Atwater Campus808 Atwater St, Raleigh
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1st shift
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2nd shift
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3rd shift
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Parking fills by 11:15 for the first shift. Overflow parking is at the school lot on Method Rd, with a shuttle every ten minutes.
Page Road Campus3104 Page Rd, Morrisville
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1st shift
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2nd shift
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3rd shift
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Enter from the north lot. The prayer hall at Page Road is smaller — the second shift is usually the least crowded.
| Prayer | Adhan | Iqamah |
|---|---|---|
| Fajr | — | — |
| Shuruq | — | — |
| Dhuhr | — | — |
| Asr | — | — |
| Maghrib | — | — |
| Isha | — | — |
Iqamah is when we begin praying together. Adhan is the call to prayer. Arrive a few minutes before iqamah so the rows can be straightened.
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Monthly prayer schedule