Year-End Donation Tips
You can make a difference in the lives of 1000's of Muslims!
“The believer's shade on the Day of Resurrection will be his sadaqah.” (at-Tirmidhi, 604).
Supporting our Seminary means supporting the future of Islamic scholarship in America. You take a share for everyone who benefits from the programs and classes at DarusSalam.
Here are some helpful charitable giving tips and reminders for the year end. As always, please consult your tax advisors before finalizing your plans.
Employer Match Programs
Please check with your employer to see if they will match your donation to Masjid DarusSalam. This is a great opportunity to double or triple your donation in some cases.
Many employers like Dell, Bank of America, GE, Abbott, AbbVie, UNC Healthcare, NYSE, US Bank, JP Morgan Chase, and more will match your donations!
To take advantage of this opportunity, please contact your employer or contact us at 630.360.2373 and we will assist you inshaAllah.
Stock and Other Appreciated Assets
Don't sell your stocks, instead consider gifting stocks and other appreciated assets to Masjid DarusSalam for potential savings of income and capital gains taxes.
Donating your stocks directly to a charitable organization will result in a greater charitable donation and savings of taxes.
All stock transfers must also be completed by December 31, to be counted for tax purposes for this year.
Cryptocurrency
The IRS treats cryptocurrencies as property, meaning donations of cryptocurrency to 501(c)(3) charities receive the same tax benefits as stock donations.
Such contributions are considered non-taxable events, so you won’t owe capital gains tax on the appreciated value and can potentially deduct the donation on your taxes.
(Be sure to consult your financial advisor or tax professional for detailed guidance.)
If your donation is received on or before December 31 (checks need to be postmarked by December 31), you will receive a donation receipt that may help reduce the amount of income tax you owe this year, inshaAllah. So act today!
Ways to Give
you can also:
Zelle to donate@masjidds.org OR sadaqa@masjidds.org OR zakat@masjidds.org
Write a check to Masjid DarusSalam, 21W525 North Ave., Lombard, IL 60148