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IOK Endowment

Your investment today powers our collective tomorrow.
Help bring IOK closer to independence from fundraising through consistent revenue generation for years to come.
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How it works

1. Support Today

Donate to IOK Waqf to set your lasting legacy into motion and bring IOK closer to independence from fundraising! Your generosity today makes a firm foundation possible for generations to come.

2. Invest for Revenue

Your donations grow the principal amounts of three endowment funds. Managed with best practices, these funds consistently yield 5-7% annual returns which are currently reinvested to accelerate the endowment’s growth alongside ongoing donor support.

3. Secure Tomorrow

Consistent, growing revenue generation enables IOK to continue and expand crucial educational, spiritual, and community programs and services. IOK Waqf is designed to keep the principal amount intact while eventually using the dividends for operational costs of our CHESS Programs and Hifdhul Quran and School Programs.

Mission

To grow an endowment that funds education, scholarships, counseling, and support services for students and young adults – on a needs and merit basis – via dividends of three separate investment funds consistently yielding 5-7% returns. IOK Waqf helps continue and grow funding for IOK’s mission to Foster a Finer Future and IOK CHESS’ mission to Sustain a Finer Future.

Vision

By 2033 insha’Allah, IOK’s investment funds will provide a permanent source of future income for IOK. The dividends of each fund will support the growth of IOK’s three largest projects as follows:

CHESS Fund

Center for Counseling, Higher Education, and Spiritual Support
IOK CHESS combines our Seminary program, with our Chaplaincy and Counseling services. Curated with young people aged 16-32 in mind, all our programming exists to ensure wrap-around spiritual support is available to the future leadership of our communities, meeting their every need for counseling, mentorship and further pursuit of Islamic Studies.

HQ/School Fund

Hifdhul Quran and School Programs
This fund powers IOK’s full-time and weekend educational programs which include accredited full-time grade school (TK – 10th grade), Quran memorization, and Islamic studies.

Capital Fund

This fund will grow and continue to be invested until the need arises for additional IOK facilities.
Daar-Ul-Ilm Institute of Knowledge Endowment (IOK WAQF) is a nonprofit 501(c)3 organization Tax ID 83-1797613, founded in 2018. IOK WAQF is an integrated auxiliary organization of Daar-ul-Ilm for the Muslim Youth, Inc. (Institute of Knowledge - IOK) which is also a nonprofit 501(c)3 organization Tax ID 95-4796275 founded in 1998.

IOK, IOK WAQF, and IOK CHESS are all managed by a single board consisting of:
Shaykh Nomaan Baig
Founder & Board President
Mr. Imtiaz Mohammady
Board Treasurer
Mr. Taher Dadabhoy
Board Secretary

The IOK Waqf is managed based on the following tenets

Compliant with Islamic finance ethics

No leverage, mortgage, nor interest

Sustainable

Ongoing investments to provide consistent income

Steady Income

5-7% return as annual income 

Diversified

Investments across the stock market through Amana Mutual Funds and The Cordoba Fund

Income Generating

Investments that produce dividends

Reserves

Maintaining reserves for 10 months of salaries

Growth

Grow endowment by a minimum of 10% annually through donations until goals for self-sufficiency are met

Management

Managed by the IOK Board of Directors