Zakah

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Zakat (Obligatory Charity) is one of the major duties required by Allah from all of His Submitters, and this requirement is mentioned in different forms such as Zakah, Haqqun and Nafaqah in the Quran to understand His law for fulfillment it on behalf of us.

A compulsion to clean one’s wealth by distribution it with the less fortunate

Although, charity is often seen as an non-compulsory in humanity, and definitely this can also be the case for Muslims (Sadaqah), Islam has commanded an responsibility upon every Muslim to give 2.5% of his/her wealth to charity, this exercise is called Zakah.
Zakah means is “to purify” or ‘to cleanse’ the wealth by sharing it with the needy, and is the 3rd pillar of Islam.

The Holy Qur’an states, “You shall observe the Contact Prayers (Salah) and give the obligatory charity (Zakah). Any good you send forth on behalf of your souls, you will find it with Allah. Allah is seer of everything you do.” (Qur’an: 2:110)

Zakah is a honorable practice for Muslims for various aims. Whereas building strong relations amongst the well-off and poor, it also helps to relax one’s ego, distancing the heart from jealousy and greed. Zakah is not envisioned to be troublesome or harmful to Muslims. By itself, there is a smallest amount upon which Zakah is payable (Nisab).

Muslims are only compulsory to pay Zakah if they hold assets that fall within or above the Nisab threshold and if they are over the age of puberty and stable.

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Terms

Acceptance of any contribution, gift or grant is at the discretion of the Muslim Children Foundation. The Muslim Children Foundation will not accept any gift unless it can be used or expended consistently with the purpose and mission of the Muslim Children Foundation.

No irrevocable gift, whether outright or life-income in character, will be accepted if under any reasonable set of circumstances the gift would jeopardize the donor’s financial security.

The Muslim Children Foundation will refrain from providing advice about the tax or other treatment of gifts and will encourage donors to seek guidance from their own professional advisers to assist them in the process of making their donation.

The Muslim Children Foundation will accept donations of cash or publicly traded securities. Gifts of in-kind services will be accepted at the discretion of the Muslim Children Foundation.

Certain other gifts, real property, personal property, in-kind gifts, non-liquid securities, and contributions whose sources are not transparent or whose use is restricted in some manner, must be reviewed prior to acceptance due to the special obligations raised or liabilities they may pose for Muslim Children Foundation.

The Muslim Children Foundation will provide acknowledgments to donors meeting tax requirements for property received by the charity as a gift. However, except for gifts of cash and publicly traded securities, no value shall be ascribed to any receipt or other form of substantiation of a gift received by Muslim Children Foundation.

The Muslim Children Foundation will respect the intent of the donor relating to gifts for restricted purposes and those relating to the desire to remain anonymous. With respect to anonymous gifts, the Muslim Children Foundation will restrict information about the donor to only those staff members with a need to know.

The Muslim Children Foundation will not compensate, whether through commissions, finders' fees, or other means, any third party for directing a gift or a donor to the Muslim Children Foundation.

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