 FundingThis project is a huge undertaking and requires a constant stream of funding. In the long term, we will establish a waqf system (endowment) that is sponsored by businesses. In the short term, our model distributes the cost to a large number of community members with a small contribution on a monthly basis. For less than one dollar a day, we can all contribute to make this a success. In addition, we are designing business sponsorship schemes which will, Inshallah, become a constant source of funds.
Estimated cost
According to conservative estimates, the cost of operating the school will be around CAD 60,000/- per month. This includes teacher's salaries, utilities and administrative expenses.
Membership contribution
This is the main source of funding for operating expenses in the short run. The school is a community service and its expenses must be met by the community as a whole. We have tried to distribute the operating cost to a high number of members. This enables most of the people in the community to participate without feeling any additional financial burden. We are hoping that each member will contribute only CAD 20 per month.
According to 2001 census, Muslim population in GTA area was approximately 252,000. We have estimated that in 2004, we have at least 350,000 Muslims living in GTA. We are looking for 1% of this population to become supporting members of this organization. If we can achieve that then we can easily manage to meet the operating expenses.
Business sponsorships
We are working on different sponsorship schemes to enable Muslim businesses to participate in this effort. As materialized, these will eventually overtake the contribution from individual members.
Summary
This project gives every individual in the community to do his/her part and this part is not financially demanding. The condition of any community does not change until we change ourselves. We need to help each other and give the gift of high quality academic and islamic education to our children. Now, is the time to act. Please fill in our pledge form and join the journey.
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