Zakat & FAITH
“All the great faith traditions require and encourage giving. Giving is the essence of living. It touches everything we do that is truly meaningful. I believe we are all here to make a difference—otherwise what is the purpose of living? As we live and experience the world during our time here, our contributions hopefully leave the world a better place.”
FAITH’s approach of exclusively supporting communities locally reaches poor and indigent population within the United States. Since its establishment, FAITH has progressed from mostly offering immediate help and focus on severing the roots of poverty, utilizing Zakat and Sadaqa donations to develop long-term, sustainable solutions. We serve to empower people to be self-sufficient, to build strong families and to be a force of good in our community.
Plan your financial future through the the 5PSIM faith based financial simulation. In conjunction with the book, Five Pillars of Prosperity, planning can benefit the reader as well as their local communities.
Q & A
Q: Is Zakat contribution tax deductible?
A: Zakat paid to a charitable organization such as FAITH is tax deductible. However, if you do not want to keep the tax savings you could donate that amount as well.
Q: When should I pay my Zakat?
A: Zakat is paid annually by all Muslims whose wealth is above a specific amount, and is to be spent for public welfare.
Q: What are your suggestions on spending money wisely?
A: Learn to control your impulses. Give yourself time before making any major purchases. Get in the habit of using cash or a debit card for most purchases.
“Five Pillars of Prosperity is an excellent resource for people of all faiths. I strongly believe this book will be life changing for all readers, as it will help them to understand the basics of finance, Islamic finance, and financial responsibility, leading to a more fulfilling and prosperous life spiritually and financially.”
“Dr. M. Yaqub Mirza has given us a unique work. I can think of nothing quite like it, bridging faith, economic principles, and practical wisdom. Five Pillars of Prosperity offers sound guidance from a Muslim perspective on the essentials of faith-based wealth building.”