Our Endowment Fund offers an exclusive opportunity to ensure the long-term stability of the TISA through a waqf, or religious endowment. Establishing an endowment is an effective way to ensure that your interests and values, as a donor, are maintained in perpetuity and to support the ongoing growth and development of the institution. A waqf is one the most blessed and rewarding forms of charity one can establish in their lifetime as it serves as a sadaqa jaariyah (continuous charity) which will continue to benefit the donor in this life and the next, insha’Allah.
TISA’s mission is to cultivate generations of world class doers and thinkers who lead from an Islamic paradigm while engaging contemporary challenges and opportunities.
TISA’s vision is a world constantly bettered by religious scholarship and ethical leadership.
An Islamic endowment or “waqf” is an investment that grows over the long term, where the principal remains intact and the earnings are used for charitable causes. This model provides protection for the earning power of the investment and enables donors and nonprofit organizations to continuously donate earnings or grow endowments by reinvesting them in the principal. Thus, when one establishes a waqf with a nonprofit organization, they simply donate some wealth or property, which will be invested in a Shariah-c0mpliant manner, keeping the principal in-tact, and utilizing the earnings for the charitable purposes.
As such, TISA’s Endowment Fund follows this Islamic model. Your principal investment remains untouched, while earnings from the investment are either re-invested into the principal or used for operations, development, and other programs consistent with the mission and vision of the institution.
The Prophet (saw) said, “When a person dies, his deeds come to an end except for three: Sadaqa Jaariyah (ongoing charity), a beneficial knowledge, or a righteous child who prays for him.” The establishment of a waqf with TISA not only creates a continuous charity that will benefit the institution and donor for perpetuity, but it also promotes the seeking of beneficial knowledge and the development of leaders who will act upon that knowledge to change our world.
The following are a few of the many benefits of establishing an Endowment Fund with TISA…
If you are ready to support TISA through our Endowment Fund, simply click the button below and select “Endowment Fund” for the Purpose, select if you would like to make this a tribute or dedication, and process the payment, as usual.
If you have additional questions, you may use the sign-up form to contact our Development Department and we will reach out as soon as possible. You may also contact us directly at: firstname.lastname@example.org, or give us a call at (214) 484 – 1309 and we will be happy to answer any questions.
Thank you and Jazakallahu Khairan for considering supporting our Endowment Fund… with your help we can transform our communities today, tomorrow, and beyond!
Donations to the endowment fund are currently restricted to sustainable income for general support of TISA’s mission. You may, however, choose to dedicate your gift to the endowment in a loved one’s memory or honor. If you would like to donate to a specific area or department, please consider making a gift through our regular donation form here: www.islamicseminary.us/donate .
Yes! We use Sharia investment vehicles. Our Endowment Fund is invested in Amana Mutual Funds, and administered by Saturna Capital.
There is currently no minimum to establish an Endowment Fund.
No. Most, if not all, scholars agree that zakat cannot be used to establish endowment funds.
Currently, because our goal is to promote longevity and maintain stability for the institution, all income from our Endowment Fund is allocated to general operational expenses.
Yes! You may name the endowment in loving memory or in honor of a deceased or living relative or loved one.
Yes! You are welcome to break down the total endowment amount into monthly payments. For example, a $100k endowment pledge may be broken down into 20 monthly installments of $5k each.
Yes! An endowment can also be established using any property such as publicly held stock certificates or real estate, which can minimize the Capital Gains Tax with a Planned Charitable Gift to TISA.
TISA is an institution of the Islamic Seminary Foundation, Inc. (ISF), which was established in 2011 as a non-profit, tax-exempt entity with the Tax-ID 45-3207248.
The Seminary was officially launched and our campus was established in Richardson, TX. TISA began offering degree-level courses in August 2019!
TISA's Endowment Fund was established in December 2019 by the Chair of the Endowment Committee, the late Dr. Farooq Selod of Fort Worth, Texas.
TISA's Endowment Fund is available to the public and is currently supervised by the ISF Finance & Endowment Committee, led by Dr. Alim Khandekar of Memphis, TN.