2024-07-25T20:32:26-04:00 2023-12-31 273693223 7TH RULE ACCOUNTING PC PO BOX 3177 ANN ARBOR MI 481063177 990 2023-01-01 464609316 IJARA COMMUNITY DEVELOPMENT CORPORATION IJAR 8778645272 2531 JACKSON AVE BOX 331 ANN ARBOR MI 48103 SHOAIB M SHARIEFF PRESIDENT/TRESURER 7348340800 2024-05-08 true SHOAIB M SHARIEFF XXX-XX-XXXX true JOHN D ANDERSON CPA P01081284 7347691877 2024-07-13 2023 2023-04-26 12:10:37Z SHOAIB M SHARIEFF 2531 JACKSON AVE BOX 331 ANN ARBOR MI 48103 253166 false X WWW.IJARACDC.COM X 2014 MI THE MISSION OF THE IJARA SHARIA HOMEOWNER LEARNING INSTITUTE (ISHLI) IS TO ADDRESS THE ISSUES OF HOMEOWNERSHIP THAT ISLAMIC FAMILIES ENCOUNTER. ISHLI ACCOMPLISHES ITS MISSION THROUGH THE IMPLEMENTATION OF EDUCATIONAL FORUMS, SHARIA FINANCIAL COUNSELING, IJARA HOME PURCHASE PROGRAM AND IJARA SHARIA MORTGAGE EDUCATION. THESE PROGRAMS ADDRESS THE NEEDS OF SHARIA COMPLIANT FINANCIALLY UNDERSERVED ISLAMIC COMMUNITIES, ECONOMICALLY CHALLENGED PERSONS AND COMMUNITIES AND OTHER COMMUNITIES THAT FALL UNDER THE CHARITABLE PURPOSES FOR WHICH IJARA IS ESTABLISHED AND AUTHORIZED TO SERVE. 3 1 0 0 24 233 256947 252921 12 22280 0 279251 253166 20850 14677 0 0 0 0 287601 269661 308451 284338 -29200 -31172 88810 94940 67333 105501 21477 -10561 X THE MISSION OF THE IJARA SHARIA HOMEOWNER LEARNING INSTITUTE (ISHLI) IS TO ADDRESS THE ISSUES OF HOMEOWNERSHIP THAT ISLAMIC FAMILIES ENCOUNTER. ISHLI ACCOMPLISHES ITS MISSION THROUGH THE IMPLEMENTATION OF EDUCATIONAL FORUMS, SHARIA FINANCIAL COUNSELING, IJARA HOME PURCHASE PROGRAM AND IJARA SHARIA MORTGAGE EDUCATION. THESE PROGRAMS ADDRESS THE NEEDS OF SHARIA COMPLIANT FINANCIALLY UNDERSERVED ISLAMIC COMMUNITIES, ECONOMICALLY CHALLENGED PERSONS AND COMMUNITIES AND OTHER COMMUNITIES THAT FALL UNDER THE CHARITABLE PURPOSES FOR WHICH IJARA IS ESTABLISHED AND AUTHORIZED TO SERVE. false false 48383 2724 IJARA EDUCATIONAL FORUM ALL IJARA MEMBERS ATTEND AN EDUCATIONAL FORUM, WHICH INTRODUCES THEM TO IJARA PROGRAMS AND SERVICES AND PROVIDES IMPORTANT INFORMATION ABOUT REAL ESTATE, HOUSING, AND THE PURCHASE PROCESS. AFTER SUCCESSFULLY ATTENDING THE EDUCATIONAL FORUM, MEMBERS MOVE ON TO THE PROGRAMS LISTED BELOW AS A MEMBER'S NEED IS ASSESSED AND DETERMINED BY IJARA. 116578 250197 IJARA FINANACIAL COUNSELING ONE-ON-ONE COUNSELING. EVERY IJARA MEMBER HAS HIS OR HER OWN MORTGAGE CONSULTANT TO WORK WITH THROUGH THE HOME PURCHASE AND MORTGAGE PROCESS. THE MORTGAGE CONSULTANT WILL WORK WITH A MEMBER FOR AS LONG AS IT TAKES TO QUALIFY FOR A MORTGAGE, LOCATE AND PURCHASE A HOME. FINANCIAL COUNSELING. THE MORTGAGE CONSULTANT WILL WORK WITH THE IJARA MEMBER TO DEVELOP A REALISTIC FINANCIAL ANALYSIS THAT DETERMINES AN AFFORDABLE PURCHASE PRICE WHILE MAINTAINING A COMFORTABLE STANDARD OF LIVING. CREDIT RESOLUTION. THE MORTGAGE CONSULTANT WILL WORK WITH MEMBER TO RESOLVE ANY CREDIT ISSUES. THIS MAY INVOLVE CORRECTING MISTAKES MADE BY THE CREDIT BUREAUS AND REPORTING COMPANIES. THE MORTGAGE CONSULTANT ALSO ADDRESSES PAYMENT HISTORY PROBLEMS AND CAN ASSIST YOU IN DEVELOPING AND IMPLEMENTING A PLAN TO RE-ESTABLISH AND IMPROVE YOUR CREDIT. FOR SOME MEMBERS, THIS MAY TAKE A PERIOD OF TIME. IJARA QUALIFICATION (I.E. MORTGAGE QUALIFICATION). AFTER DEVELOPING A REALISTIC FINANCIAL ANALYSIS, RESOLVING CREDIT ISSUES, DEMONSTRATING SUFFICIENT SAVINGS, AND OBTAINING THE DOCUMENTS NECESSARY TO BE APPROVED, A MEMBER CAN BE IJARA QUALIFIED. THE MORTGAGE CONSULTANT WILL DETERMINE THE MAXIMUM PURCHASE PRICE BASED ON A MONTHLY PAYMENT THAT FITS THE MEMBER'S BUDGET, THE CURRENT INTEREST RATE AND THE ESTIMATED TAXES AND INSURANCE. IJARA QUALIFICATION VIRTUALLY ASSURES THAT THE LENDER WILL APPROVE THE MORTGAGE APPLICATION. IJARA MORTGAGE PROCESS COUNSELING MEMBERS WILL GO THROUGH A CREDIT AND MORTGAGE PROCESS COUNSELING SEMINAR PRIOR TO SUBMITTING AN APPLICATION FOR CREDIT AND A MORTGAGE. AFTER SUCCESSFULLY COMPLETING THE CREDIT AND MORTGAGE COUNSELING SEMINAR, THE BUYER WILL SUBMIT A CREDIT APPLICATION FOR APPROVAL. CREDIT AND MORTGAGE APPLICATION. IJARA REQUIRES THAT PRIOR TO SUBMITTING A MORTGAGE APPLICATION THROUGH IJARA THAT A MEMBER APPLY TO IJARA FOR CREDIT AND GET APPROVED - CALLED IJARA CREDIT PROCESS. ONCE THE APPLICATION FOR IJARA CREDIT PROCESS HAS BEEN APPROVED, THE MORTGAGE CONSULTANT WILL TAKE THE MEMBERS MORTGAGE APPLICATION. BECAUSE OF ALL THE PRE-APPLICATION WORK, LENDERS APPROVE VIRTUALLY ALL MORTGAGE APPLICATIONS. MORTGAGE PROCESS. THE MORTGAGE CONSULTANT WILL WORK WITH THE MEMBER TO NAVIGATE THE MORTGAGE PROCESS AND OBTAIN A COMMITMENT LETTER. AFTER THE LOAN IS APPROVED, THE MORTGAGE CONSULTANT REVIEWS THE COMMITMENT LETTER WITH THE MEMBER AND DISCUSSES ANY ADDITIONAL CONTINGENCIES (CONDITIONS) SPECIFIED BY THE LENDER. CLOSING. THE MORTGAGE CONSULTANT WILL ADVISE THE MEMBER ABOUT THE INSURANCE BINDER AND PRE-PAID TAXES, INSURANCE, ETC. DUE AT THE CLOSING. THE BUYER'S AGENT OR OTHER REAL ESTATE AGENT WILL BE PRESENT AT THE CLOSING AND THE MORTGAGE CONSULTANT AND IJARA STAFF WILL BE AVAILABLE TO HANDLE ANY LAST MINUTE PROBLEMS. IJARA MEMBERSHIP ASSISTANCE PROGRAM (IMAP). IJARA PROVIDES COUNSELING AND FINANCIAL ASSISTANCE FOR IJARA HOMEOWNERS THROUGH THE IJARA MEMBERSHIP ASSISTANCE PROGRAM WHICH PROVIDES EMERGENCY FINANCIAL ASSISTANCE TO PREVENT FORECLOSURE, AS WELL AS PROVIDING STAFF WHO CAN PROVIDE FINANCIAL COUNSELING, PAYMENT PLANS AND OTHER ASSISTANCE IN HELPING TO AVOID FORECLOSURE. IJARA HOME PURCHASE PROGRAM PURCHASE WORKSHOP. IJARA WILL PROVIDE INFORMATION ON THE HOME PURCHASE PROCESS, INCLUDING VALUABLE INFORMATION REGARDING REAL ESTATE. AN IJARA BUYER'S BROKER/AGENT ("BUYER'S AGENT") OR IJARA REFERRAL AGENT CAN ASSIST IN THE HOUSING SEARCH. HOUSE HUNTING. WORKING WITH A BUYER'S AGENT OR ANOTHER AGENT REFERRED TO A MEMBER BY IJARA CAN HELP FIND THE HOME AND NEGOTIATE THE BEST POSSIBLE TERMS IN THE PURCHASE AND SALE AGREEMENT. PROPERTY EVALUATION. ONCE A HOME IS SELECTED, IT MUST BE INSPECTED. IJARA REVIEWS THE HOME INSPECTION TO DETERMINE IF THE HOME MEETS IJARA'S CRITERIA OR NEEDS ADDITIONAL WORK. IJARA MAY REQUIRE THAT REPAIRS OR RENOVATIONS BE MADE. 74848 14677 OTHER PROGRAM EXPENSES FOR OVERALL OPERATIONS. 74848 14677 239809 true false false false false false false false true false true false false true true false false false false false false false false false false false false true false false false false false false false true true true false false false false false false false false false false 0 0 0 false false false false false false false false 3 1 false false false false false false false true true false false false false false false false false false X SHOAIB M SHARIEFF 8778645272 2531 JACKSON AVE BOX 331 ANN ARBOR MI 48103 X GEMALA AFIFI VICE PRESIDE X X 0 0 0 ABRAHAM RIZQALLA DIRECTOR X 0 0 0 SHOAIB M SHARIEFF PRESIDENT/TR X 0 0 0 false false false 233 233 PROGRAM INCOME:TRUST REVIEW/C 250197 250197 PROGRAM INCOME 2724 2724 252921 12 12 253166 252933 X 14677 14677 1575 1575 38363 38363 998 998 20559 20559 8127 8127 3090 3090 4791 4791 PROFESSIONAL FEES:ETHI 22908 22908 PROFESSIONAL FEES:IJARA M 22355 22355 MEDICAL 18540 18540 OPERATIONS:INTERNET:WEB C 17990 17990 110365 91740 18625 284338 239809 44529 0 3343 10037 24113 14734 34172 41077 39556 18130 25382 21426 1800 7666 88810 94940 12782 20116 54551 77554 7831 67333 105501 X 21477 -10561 21477 -10561 88810 94940 X -31172 -866 X false false X 13713 27 24 24 233 14021 191737 216486 228795 279227 252933 1169178 205450 216513 228819 279251 253166 1183199 1183199 205450 216513 228819 279251 253166 1183199 1.00000 1.00000 0.00000 0.00000 X false false 39556 18130 21426 21426 TRAILER 4666 OTHER ASSETS 1800 ETHI EQUITY 1200 7666 ETHI LIABILITY 7831 7831 false DONATIONS 14677 IJARA MARKETING LLC BUSINESS OWNER SERVICES PROVIDED false IJARA MARKETING LLC BUSINESS OWNER SERVICES PROVIDED false FORM 990 - ORGANIZATION'S MISSION THE MISSION OF THE IJARA SHARIA HOMEOWNER LEARNING INSTITUTE (ISHLI) IS TO ADDRESS THE ISSUES OF HOMEOWNERSHIP THAT ISLAMIC FAMILIES ENCOUNTER. ISHLI ACCOMPLISHES ITS MISSION THROUGH THE IMPLEMENTATION OF EDUCATIONAL FORUMS, SHARIA FINANCIAL COUNSELING, IJARA HOME PURCHASE PROGRAM AND IJARA SHARIA MORTGAGE EDUCATION. THESE PROGRAMS ADDRESS THE NEEDS OF SHARIA COMPLIANT FINANCIALLY UNDERSERVED ISLAMIC COMMUNITIES, ECONOMICALLY CHALLENGED PERSONS AND COMMUNITIES AND OTHER COMMUNITIES THAT FALL UNDER THE CHARITABLE PURPOSES FOR WHICH IJARA IS ESTABLISHED AND AUTHORIZED TO SERVE. FORM 990, PAGE 2, PART III, LINE 4B IJARA FINANACIAL COUNSELING ONE-ON-ONE COUNSELING. EVERY IJARA MEMBER HAS HIS OR HER OWN MORTGAGE CONSULTANT TO WORK WITH THROUGH THE HOME PURCHASE AND MORTGAGE PROCESS. THE MORTGAGE CONSULTANT WILL WORK WITH A MEMBER FOR AS LONG AS IT TAKES TO QUALIFY FOR A MORTGAGE, LOCATE AND PURCHASE A HOME. FINANCIAL COUNSELING. THE MORTGAGE CONSULTANT WILL WORK WITH THE IJARA MEMBER TO DEVELOP A REALISTIC FINANCIAL ANALYSIS THAT DETERMINES AN AFFORDABLE PURCHASE PRICE WHILE MAINTAINING A COMFORTABLE STANDARD OF LIVING. CREDIT RESOLUTION. THE MORTGAGE CONSULTANT WILL WORK WITH MEMBER TO RESOLVE ANY CREDIT ISSUES. THIS MAY INVOLVE CORRECTING MISTAKES MADE BY THE CREDIT BUREAUS AND REPORTING COMPANIES. THE MORTGAGE CONSULTANT ALSO ADDRESSES PAYMENT HISTORY PROBLEMS AND CAN ASSIST YOU IN DEVELOPING AND IMPLEMENTING A PLAN TO RE-ESTABLISH AND IMPROVE YOUR CREDIT. FOR SOME MEMBERS, THIS MAY TAKE A PERIOD OF TIME. IJARA QUALIFICATION (I.E. MORTGAGE QUALIFICATION). AFTER DEVELOPING A REALISTIC FINANCIAL ANALYSIS, RESOLVING CREDIT ISSUES, DEMONSTRATING SUFFICIENT SAVINGS, AND OBTAINING THE DOCUMENTS NECESSARY TO BE APPROVED, A MEMBER CAN BE IJARA QUALIFIED. THE MORTGAGE CONSULTANT WILL DETERMINE THE MAXIMUM PURCHASE PRICE BASED ON A MONTHLY PAYMENT THAT FITS THE MEMBER'S BUDGET, THE CURRENT INTEREST RATE AND THE ESTIMATED TAXES AND INSURANCE. IJARA QUALIFICATION VIRTUALLY ASSURES THAT THE LENDER WILL APPROVE THE MORTGAGE APPLICATION. IJARA MORTGAGE PROCESS COUNSELING MEMBERS WILL GO THROUGH A CREDIT AND MORTGAGE PROCESS COUNSELING SEMINAR PRIOR TO SUBMITTING AN APPLICATION FOR CREDIT AND A MORTGAGE. AFTER SUCCESSFULLY COMPLETING THE CREDIT AND MORTGAGE COUNSELING SEMINAR, THE BUYER WILL SUBMIT A CREDIT APPLICATION FOR APPROVAL. CREDIT AND MORTGAGE APPLICATION. IJARA REQUIRES THAT PRIOR TO SUBMITTING A MORTGAGE APPLICATION THROUGH IJARA THAT A MEMBER APPLY TO IJARA FOR CREDIT AND GET APPROVED - CALLED IJARA CREDIT PROCESS. ONCE THE APPLICATION FOR IJARA CREDIT PROCESS HAS BEEN APPROVED, THE MORTGAGE CONSULTANT WILL TAKE THE MEMBERS MORTGAGE APPLICATION. BECAUSE OF ALL THE PRE-APPLICATION WORK, LENDERS APPROVE VIRTUALLY ALL MORTGAGE APPLICATIONS. MORTGAGE PROCESS. THE MORTGAGE CONSULTANT WILL WORK WITH THE MEMBER TO NAVIGATE THE MORTGAGE PROCESS AND OBTAIN A COMMITMENT LETTER. AFTER THE LOAN IS APPROVED, THE MORTGAGE CONSULTANT REVIEWS THE COMMITMENT LETTER WITH THE MEMBER AND DISCUSSES ANY ADDITIONAL CONTINGENCIES (CONDITIONS) SPECIFIED BY THE LENDER. CLOSING. THE MORTGAGE CONSULTANT WILL ADVISE THE MEMBER ABOUT THE INSURANCE BINDER AND PRE-PAID TAXES, INSURANCE, ETC. DUE AT THE CLOSING. THE BUYER'S AGENT OR OTHER REAL ESTATE AGENT WILL BE PRESENT AT THE CLOSING AND THE MORTGAGE CONSULTANT AND IJARA STAFF WILL BE AVAILABLE TO HANDLE ANY LAST MINUTE PROBLEMS. IJARA MEMBERSHIP ASSISTANCE PROGRAM (IMAP). IJARA PROVIDES COUNSELING AND FINANCIAL ASSISTANCE FOR IJARA HOMEOWNERS THROUGH THE IJARA MEMBERSHIP ASSISTANCE PROGRAM WHICH PROVIDES EMERGENCY FINANCIAL ASSISTANCE TO PREVENT FORECLOSURE, AS WELL AS PROVIDING STAFF WHO CAN PROVIDE FINANCIAL COUNSELING, PAYMENT PLANS AND OTHER ASSISTANCE IN HELPING TO AVOID FORECLOSURE. FORM 990, PAGE 2, PART III, LINE 4C IJARA HOME PURCHASE PROGRAM PURCHASE WORKSHOP. IJARA WILL PROVIDE INFORMATION ON THE HOME PURCHASE PROCESS, INCLUDING VALUABLE INFORMATION REGARDING REAL ESTATE. AN IJARA BUYER'S BROKER/AGENT ("BUYER'S AGENT") OR IJARA REFERRAL AGENT CAN ASSIST IN THE HOUSING SEARCH. HOUSE HUNTING. WORKING WITH A BUYER'S AGENT OR ANOTHER AGENT REFERRED TO A MEMBER BY IJARA CAN HELP FIND THE HOME AND NEGOTIATE THE BEST POSSIBLE TERMS IN THE PURCHASE AND SALE AGREEMENT. PROPERTY EVALUATION. ONCE A HOME IS SELECTED, IT MUST BE INSPECTED. IJARA REVIEWS THE HOME INSPECTION TO DETERMINE IF THE HOME MEETS IJARA'S CRITERIA OR NEEDS ADDITIONAL WORK. IJARA MAY REQUIRE THAT REPAIRS OR RENOVATIONS BE MADE. FORM 990, PAGE 2, PART III, LINE 4D OTHER PROGRAM EXPENSES FOR OVERALL OPERATIONS. FORM 990, PAGE 6, PART VI, LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC FORM 990, PART IX, LINE 24E APPLICATION FEES DISCOUNT 17,765 0 0 PROFESSIONAL FEES:ULUAD 12,000 0 0 BUSINESS EXPENSES:DUES AN 0 11,503 0 OPERATIONS:TELEPHONE, TEL 10,769 0 0 MARKETING 8,477 0 0 OPERATIONS:INTERNET:DOMAI 7,525 0 0 AUTO REPAIR 5,359 0 0 OPERATIONS:OFFICE EXPENSE 4,276 0 0 BUSINESS EXPENSES:CREDIT 3,786 0 0 PROFESSIONAL FEES:NETWORK 3,459 0 0 OPERATIONS:POSTAGE, MAILI 3,301 0 0 PROFESSIONAL FEES:OUTSIDE 2,449 0 0 BANK SERVICES:FINANCE CHA 0 2,419 0 GAS 2,335 0 0 FACILITIES AND EQUIPMENT: 0 2,303 0 BUSINESS EXPENSES:BUSINES 0 2,147 0 OPERATIONS:PRINTING AND C 2,077 0 0 OPERATIONS:INTERNET:ISP 1,987 0 0 OTHER TYPES OF EXPENSES:I 1,575 0 0 PROFESSIONAL FEES 1,080 0 0 REFUNDS 1,024 0 0 PROFESSIONAL FEES:NOTARY 806 0 0 MARKETING:SOCIAL MEDIA 344 0 0 OPERATIONS:EMAIL ADDRESSE 332 0 0 PROFESSIONAL FEES:IJARA R 313 0 0 BANK SERVICES 0 253 0 OPERATIONS:CANADA CALL FO 168 0 0 WRITE OFF 155 0 0 BUSINESS EXPENSES 144 0 0 PROFESSIONAL FEES:ZZZ 113 0 0 OPERATIONS:FAX NUMBERS 112 0 0 OPERATIONS:INTERNET 9 0 0 TOTAL 91,740 18,625 0 FORM 990, PART XI, LINE 9 BOOK / TAX DEPRECIATION DIFFERENCE -866