1) You make a gift to the Foundation in your will or during your lifetime.
2) The capital is preserved and proceeds of its investment are paid to the registered charities designated by the donor. For each $30,000 gift, the charity will receive $1,000 per year, in perpetuity. A larger annual payment will be made if performance of the Fund permits it.
3) The gift can be in the name of the donor, in the name of donor and spouse, or in the name of donor “and family”.
4) The name of the donor will be listed in every annual report of the Foundation that is issued after receiving the gift. Such reports can be proudly displayed by the donor in his/her library or on his/her coffee table.
5) The name of the donor will also be listed every year when the payment is made to the designated charity.
6) The gift can also be in the memory of a loved one. That is a better memorial than having his/her name engraved on a park bench.
7) The example the above sets will encourage others to also be charitable.
8) Donors get the benefit of a trust fund without incurring the cost of creating a private trust fund.
9) The donor and successors receive free life membership in the Foundation and can vote on electing its directors.
10) The Foundation will not invest in companies, the operations of which are not compatible with the charitable nature of the Fund.
11) The above is the essence of the concept of “Muslim Awkaf (Awqaf)” that has been successfully applied for 14 centuries, and which made charities in the Middle East awash in cash, and they do not need to pass collection plates at their meetings or run annual fund raising campaigns.
12) This offering in B.C. is open to Muslims (both Sunni and Shia), non- Muslims and corporations. The donor can designate any registered charity, whether religious, educational, cultural, a hospital, a food bank, a home for seniors, etc.
13) It will take time for the Foundation to be able to provide full funding for the designated charities. Hence they will have to continue their fund raising activities for now. To avoid conflict, the smaller donations should go directly to the charities and only the larger donations that can be vested are to go to the Foundation.
14) The minimum donation for individuals is $30,000 and it can be made in instalements starting with $10,000.
15) The minimum donation for corporations is $5,000 and it will be recognized in the annual report of the year in which the gift is received. If the cumulative donations from a corporation reach $30,000, it will be granted membership and it can name a person to vote on electing the directors.
16) Income tax receipts will be issued for all donations.
17) The Trust Agreements between the donors and the Foundation are legally binding on future Boards of Directors, and this ensures that wishes of the donors will continue to be honored after they pass away.
Directors of Awkaf BC
- President & Founder: Abdul M. Mousa, Ph.D., P. Eng., Fellow IEEE. Abdul is retired Specialist Engineer of BC Hydro, he received his Ph.D. from UBC, and is a renowned lightning protection expert. Email: firstname.lastname@example.org
- Vice President: Farouk Elesseily. Farouk is retired director of CN/CP Telecommunications, and he was a founder of BCMA (The BC Muslim Association).
- Treasurer: Mustafa Focak. Mustaf is custodian of the Burnaby Mosque (Masjid al-Salaam & Education Centre), and he is President of Bosnian Muslim Association. Email: email@example.com
- Director at Large: Faiza Ali. Faiza is a Registered Nurse & Nursing Administrator. Email: firstname.lastname@example.org
Other Founders & Past Board Members
- Musa Ismail. Musa is retired Principal of IBM Western Canada, a business man, a Director of Muslim Food Bank, and a past President of The BCMA. He is also a Director of Islam Unraveled, a group mandated to provide understanding & knowledge of Islam through basic education from Quran and Sunnah. Email: email@example.com
- Feroz Dean. Feroz is a real estate consultant, and past Chair of the Board of Trustees of BCMA. Email: firstname.lastname@example.org
Charitable Public Foundation. Registration #73890 4127 RR0001. Provides long-term funding to registered charities.