Waqf Donation

Suggested Donation: $1,000.00

Minimum Amount: $5.00

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URGENT APPEAL

Seeking $200,000 by December 20, 2019 to Purchase Adjacent Property to Alleviate Critical Parking Issue

Background

The Islamic Education Center of Pennsylvania (IECPA) is seeking $200,000 to purchase a property adjacent to the IECPA. The property will be used to alleviate current parking and entrance/exit issues, as well as serving as a waqf (i.e. an Islamic trust). The funds are required by December 20, 2019 in order to proceed with the Agreement.

Details

The IECPA entered into a Commercial Purchase and Sale Agreement with the owner of Paese Mio Pizzeria, located adjacent to the IECPA at 6561 Tilghman Street, Allentown, Pennsylvania.

Commercial Purchase and Sale Agreement

  • Closing Date: December 20, 2019
  • Total Purchase Price: $700,000
  • Down Payment: $300,000
  • Annual Installments: $400,000 [Over 7 Years; ~$57,000/Year]

Funding

  • Down Payment: $300,000
  • Cash On Hand: $100,000
  • CASH REQUIRED: $200,000
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