Abu Hurairah reported The Messenger of Allah (PBUH) said,
“When a man dies, his deeds come to an end except for three things:
Sadaqah Jariyah (ceaseless charity), a knowledge which is beneficial,
or a virtuous descendant who prays for him (for the deceased).”
– Sahih Muslim – Book 13 – Hadith 4005
YOUR CHANCE TO LEAVE A LEGACY
Your continued support and generosity over the years has been the heart and soul of IMRC.
As we have approached our 40th year of service, we want to say thank you and also ask for your inspiration and support for the next 10 years and more Insh’Allah.
IMRC currently oversees a number of vital Legacy Projects. A Legacy Project is a large strategic project that can make a meaningful impact on multiple generations. These projects require vision and sustained commitment over time. Some of our Legacy Projects include Jahangirabad Institute of Technology (JIT) University, Challenger International School, Indo-US Hospital and Project REED, which has completed development of over 100 masjid and school dual-use facilities.
In Fall 2015 we were excited to expand the JIT campus with new programs. The College of Education is offered with a 2 year diploma, Bachelor’s and Master’s Program to follow. A Media Program will is also offered as a diploma, undergraduate and graduate program.
IT’S A FORM OF SADAQA
For these and other projects, we need your generous support towards our Endowment. The IMRC Endowment is a form of Sadaqah Jariyah. An Endowment can be a one time donation of stocks, property, portion of your retirement pension, 401k or a portion of the assets in your will. The impact of your investment multiplies as your wealth is reinvested yearly and the income supports the poor and needy. Creating a Charitable Remainder Trust (CRT) is also an option for higher net worth individuals for maximum tax benefits to you, your family and the community.
What Your Endowment Can Support
For every $12,500 invested with the Scholarship Fund, we expect to generate $1,000 in income on an annual basis. This is sufficient to provide one University Scholarship and support a very deserving student’s tuition for one year.
ANNUAL FEEDING PROGRAM
A one-time donation of $6,000 invested towards the Feeding Program can feed 500 people every Ramadan annually.
WATER WELL PROGRAM
For $25,000 towards the Water Well program, you enable one water well to be built each year.
Contact us to learn more.
In our experience over the past 10 years, we have averaged 8% return for our investments. Insh’Allah, we hope to maintain such returns for the future.
WAYS TO SUPPORT
GROW YOUR WEALTH AND PROVIDE SADAQA JARIYA AT THE SAME TIME.
GIVE STOCK THROUGH AN INVESTMENT ACCOUNT
If you have appreciated stock in your portfolio you should consider gifting that stock to receive a charitable deduction and avoid paying capital gains taxes. You can also consider gifting your mandatory IRA as another option for tax deductible support.
One of the simplest ways to make a significant donation is to name IMRC as the beneficiary of your IRA. By doing this, you avoid the double taxation that an IRA is charged with upon the passing of the owner. You receive the benefits of the funds for your entire life, while enabling you to support IMRC for years after your passing rather than sending your hard-earned dollars to the IRS.
Likewise, creating various trust structures can help you avoid estate taxes, while simultaneously helping IMRC fund its charitable projects in India for years to come.
Many employers encourage their employees to contribute to qualifying charitable organizations and will match the contributions their employees make. Several of our programs reach out to com-munities in need and do not deny anyone regardless of faith, gender, or caste. For a certified letter for your employer, please contact our office.
IN YOUR WILL
By including IMRC in your will, you help IMRC continue efforts to open doors of opportunity for future generations of Indiaâ€™s poor and needy. By naming IMRC in your will with a specific dollar amount or percentage of your assets you can take control of the legacy you leave behind. Our ef-forts are due to generous donors with vision like you. Your continuous support is needed.
CHARITABLE REMAINDER TRUST (CRT)
A charitable remainder trust is a powerful planning tool for high networth individuals designed to reduce taxes while donating cash, securities or property to a designated charity like IMRC. This is an irrevocable agreement where you and your loved one receive income (usually a fixed percent-age of the trustâ€™s value annually) and IMRC as a designated charity receives the principal after a specified period of time or at your passing. Principal can grow free of tax and you only are taxed on what you take out in a given year. You not only help create opportunity and transform lives in India, but a portion of your gift will be a tax-deduction in the year of your donation. There are other ways for distribution, contact our office for more info.
You can name your IRA beneficiary as a Testamentary CRT such that after your passing, your spouse will receive annual distributions for life and the remainder upon second death will go to IMRC as the designated charity.