“True piety does not consist in turning your faces towards the east or the west – but truly pious is he who believes in God, and the Last Day; and the angels, and revelation, and the prophets; and spends his substance “
(Quran chapter 2: verse 177)
A well-run mosque needs to keep a range of records. These records allow the management committee to account for what has happened to money within the organisation. Most mosques are charitable organisations. This means its objective is charitable and meets some socially desirable need in the community. Donors make contributions to the organisation to help in meeting its objectives, and therefore need to have some system in place to show how the money has been spent.
Budgeting and forecasting
A budget is a plan for using money on activities that meet the mission and goals of the organisation. It is about predicting what income you will receive and deciding how you will spend it over the financial year.
Fundraising
Fundraising is an activity that helps you to get the resources – money, equipment, premises – that your organisation needs to carry out its activities. There are many ways to raise funds but the key is to have a funding plan. This will help you target, and put in order of importance, particular funders, donors and the type of activities that will have the most effect.