The New Generation....

My trip this past weekend was back to Chicago for two events. The first was on Friday and the second was for the entire weekend. The Friday night event was the 15th annual Fundraising dinner for the Muslim Community Center (MCC) Full-Time Islamic School. It was held at a banquet hall and there were approximately 500 (men, women, and children) in attendance. There were three vendor displays and all happened to be financial companies (Guidance, Allied Asset Advisors (DJ Islamic Fund), and us). It was a little odd, but I was expecting this going into it, especially the presence of AAA. The marketing person for AAA is a fresh grad from a prominent Chicago Muslim Family (Quadri) and the basically run the MCC. However, I felt it was important to give people an alternative and thus our presence. Being the first one at the event, helped me get the best spot, right next to where the people would have to stand to get food. As such, I did have a number of people stop by and take material, ask questions, etc.

This was a traditional fundraising dinner, with the program, fundraising (which raised $50k), and then dinner. The crowd was mostly older generation and thus were accustomed to this style. In a typical dinner, one person gets up and using verses from the Qur'an and the sayings of the Prophet, encourages people to donate. This, about 10 years ago (as a novel idea), worked really well. Now, people are used to it, and thus come to the dinner already knowing exactly how much they want to donate. The effect has diminished considerably, however, because of habit, the same functions are organized. Of note in this fundraiser, aside from $50k raised, an unnamed person gave a donation of $125k to the endowment of the school. I find this interesting because after attending many dinners nationwide, this is the largest donation I have seen, specifically for an endowment. I do feel that this will become more and more common as the years go by. On a side note, a friend of mine at Harvard (MBA class of 2004) is just finishing a paper on Muslim Endowments in the US amongst local communities (not including national orgs). He interviewed me and will send me the paper after it is complete. He found that most Board Members at organizations are aware of endowments, see the need to fund one, but are too operationally focused to begin a campaign for one. It might be worth considering (after reading the final paper, of course) for us to come up with a turn key operation where we set up endowments for mosques and schools . Already, many people ask me if I know how do it and how to regulate them (Investment Policy Statement).

Saturday and Sunday were spent at an intensive seminar being hosted by a local organization in Chicago known as the Nawawi Foundation. There were approximately 750 people in attendance and most were young professionals (doctors, lawyers, IT, etc) in their 20s and 30s. The only older people I saw were the parents of some college students that attended. There were people from as far away as Bellingham (me!!!! just kidding). From as far away as Miami. The Nawawi Foundation was started by two people in their late twenties and professor. The professor was a WASP (in his words, not mine) who accepted Islam in the early 70s after being exposed to Malcolm X. He is a brilliant guy and very well read. In fact, before moving back to the US in 2000, he was teaching Arabic at the university level to Arabs in Saudi Arabia. I find that very ironic, that an American from Missouri was teaching Arabic to the Arabs!!! One of the two founders (Anas) is the son of Dr. Bassam Osman (someone we are all very familiar with). Dr. Osman, and his two sons are all on the Board of Nawawi Foundation (a family affair, no doubt).

The Foundation did do a small fundraiser at the retreat, however the style was a stark contrast to the one I attended on Friday night (keep in mind the difference in generations). Anas gave a presentation, on powerpoint, did not ask for operational funds, but rather was only soliciting money for the endowment they are trying to build. Operational funds come from the local and national programs they do (such as this one) and all have net income. This is supplemented by key individuals who donate monthly. I think this is the wave of the younger (2nd and 3rd) generation. We (yes, I consider myself young) are tired of just giving money to causes for their operational income and would much rather see our funds invested, with the returns being used for that purpose. On top of this, organizations can apply for grants as well.

As mentioned, I did have a booth at this event and did get quite a bit of traffic with many people interested. Two interesting conversations I had. One was with a person who is a personal friend of the marketing person at AAA and knows the Osmans really well. However, he wanted to open an account with Amana rather than Dow Jones because of of history and because he did not "trust" NAIT. I am beginning to here more and more of this. Many I speak to have realized that NAIT is showing up in the newspaper more and more and is under scrutiny. This has turned many away from them. The second was the previous Executive Director of the Islamic Medical Association of North America (IMANA). They have an account with us, but the majority of the money is with Morgan Stanley with a broker in LA. He mentioned that the Amana funds have given a better return and the fees are less!!!!! He suggested I speak to the current Exec. Director and talk to him about moving all of it over. He also suggested that I come to their next conference. I did not tell him this, but I do think it is unfeasible. The one last year was in Alaska and this year is in South Africa for 3 weeks. The IMANA alternates its conferences, one year abroad, the other year alongside the ISNA convention. Although I would love to go to South Africa (I have been on a safari in Zimbabwe while attending a friends wedding in Botswana), unless there is something concrete that I can get out of it, it might be more cost effective to wait until next year when they do it alongside ISNA. Did I just shoot myself in the foot? I meant, I really think I should go on this trip and oh, by the way, I think my family should also!!! :)

The whole of Southern Africa is beautiful!!! My friend who lives in Botswana is of Indian (South Asian) decent and his grand father moved to Zimbabwe back in the 1930s. His family now is the "Waltons" of both Zimbabwe and Botswana. Not uncommon in that part of the world. Remember, before moving to India, Mahatma Gandhi was in South Africa!!! Many went there for economic opportunities since that what colonized by the British as well. The set up almost all the major businesses in virtually all of sub-Saharan Africa. There children were born and raised there and consider themselves African, and not Indian and were persecuted alongside the blacks in South Africa (the were called "coloreds") Now however, there is growing unhappiness with them as the Africans are beginning to realize that they control all of the wealth and industry. They fear that the coloreds with take the money and return to India....... an unfounded fear, since now, Indians don't consider them Indians!!! As such, over the past 2 decades, many have left and have migrated to the US. This grew considerably after what happened in Uganda under Idi Ameen (he repossessed all colored lands and gave it to the Africans). People thought that this wave would spread to other parts of Africa, but as of yet, it has not happened. The story of Indians coming to Africa is very similar to Indians coming to America. Lets hope that the US government doesn't do the same thing that happened in Uganda. Personally, I don't think it will get that bad, however, when a government fans the flames of fear, there is no limit to the intolerance and persecution. But for right now, the coloreds are not the major concern, it is HIV/AIDS. My friend tells me it is wiping out the population, quite literally. Let us pray that this dreadful disease does not do what other plagues have done throughout time.