Organizational Financial Status

 

Financial flow of the organization is assigned to the Finance Committee under the mandates of the Board of Directors. Treasurer acts as a Chief Financial Officer (CFO) and take in-charge of all the financial transactions in according with the financial policies established by the Board. Finance Committee also works closely with Fundraising Committee which is comprised with Fundraising In-charges and joint in-charges within the Board. All the funds are deposited into organization accounts by Fundraising Committee and these transactions are monitored by the Finance Committee. All the approved expenses are, then, withdrew from the organization’s bank account by Treasurer.

 

The accomplishment of the masjid project is highly depended on the available funding and thus fundraising activities has been carried out throughout the year. Because of the high expectation and heavy load of responsibilities that the Fundraising Committee has to accomplish, remaining Directors, Advisory Board members, sisters and youths teams also provide various support to achieve fundraising tasks effectively.

 

Over the last seven years, fundraising activities were carried out extensively at various community events and gatherings that include Food Sales, Sport Tournament, Iftari Gathering, Community Outreach etc. At the beginning of each year, we visit community members at their residents explain about the progress and collect donation. In addition to Fort Wayne residents, Fundraising teams also traveled to Muslims communities throughout the United States to collect funding. Donations are also accepted from online, snail mail, wire transfers etc.

 

All the donations are recorded on serial numbered receipts and sent to donors. Finance Committee and Fundraising Committee also keep a copy each for the record and used as a cross reference check. Donation are mainly collected for Masjid Construction project and spend according to the decision of the Board of Directors.