A foundation’s unique approach to faith-based philanthropy, with the Co-founder of the American Muslim Community Foundation (AMCF), shedding light on their mission to provide an inclusive and accessible platform for philanthropy within the American Muslim community.
The conversation highlights AMCF’s journey and its role in providing a platform for Muslims to engage in philanthropic activities.
Muhi Khwaja shares the origin of AMCF, tracing it back to his experience working in philanthropy and development, where he was inspired to create a community foundation for the American Muslim community. He mentions his previous roles and the diverse network he built within the Muslim community, which eventually led to the establishment of AMCF.
One key aspect of the discussion is the concept of donor-advised funds (DAFs). Muhi explains that AMCF allows individuals to start DAFs with a minimum recommended amount of $2,500, making philanthropy accessible to a broader audience. He emphasizes the flexibility and tax benefits associated with DAFs, making them a popular choice for charitable giving.
The interview digs into the demographics of AMCF’s donors, revealing a median age of around 52-55, and Muhi addresses the diversity within the American Muslim community and how AMCF aims to represent and support this diverse population.
The conversation touches on the importance of planned giving and estate planning within the Muslim community, as well as AMCF’s role in facilitating these discussions. Muhi mentions collaborative funds and giving circles as part of AMCF’s proactive approach in responding to various causes, such as disaster relief and advocacy efforts.
The cohosts and Muhi take a minute to mention the success of their recent 2023 Muslim Philanthropy Awards, which celebrated outstanding contributions to philanthropy within the community.