Hello, how can we help?
Why are endowments so important to ASET?
The endowment is a perpetual asset that supports the ability of the ARS to offer an extraordinary education to our students. Because of this endowment we have been able to consistently provide resources that help improve the overall quality of pedagogy offered by ARS. The endowment thus represents the legacy to the present—a result of the past generosity of the community members.
Where does ASET invest the endowment money?
ASET has partnered with Shariah compliant investment funds, namely Azzad Asset Management Inc & Amana Mutual Funds Trust both of which offer investment products consistent with Islamic banking principles.
How has ASET supported the Al Rahmah School in the past?
- Supported the Phase 3 expansion of the Islamic Society of Baltimore.
- Provided laptops to the students on multiple occasions.
- Given out Scholarships to well deserving and high performing students.
- Fully subsidized educational training for faculty.
- Gifted ARS Teachers retirement gifts.
What events and programs does ASET provide to the community?
ASET’s biggest fundraising initiative HalalFest (formerly known as the Muslim Food Fest) happens annually in the summer, bringing in crowds of over 10,000 people from across the DMV region to enjoy a vast variety of food, shopping & entertainment.
ASET has also organized Eid Bazaars, WinterFest, Will writing seminars & IT training classes.
Can part of the endowment be used for pressing needs or opportunities?
An endowment fund must maintain equity across generations. Its value cannot be disproportionately expended on current needs. In order to assure generational equity is managed properly, ASET’s Board of Trustees establishes and oversees an endowment spending formula that balances today’s needs against future need.