A donor-advised fund exists because some families want to give over many years, take the tax receipt now, and decide the charities later. Assad Wealth Management offers that account with a halal investment screen and calls it a private waqf and sadaqah jariyah vehicle.
You contribute cash or securities. Charitable Impact Foundation, known as CHIMP, issues the tax receipt and handles administration. Assad invests the balance until you grant it to registered charities on your own timeline. The account is available in all 10 provinces. Fees and a minimum contribution are not published, so ask for both in writing. Start on the Assad provider page.
Ready to compare halal options?
Who It Is For
This fits a family or a business owner who already gives seriously and wants one pot instead of a new cheque every Ramadan. It is a poor fit if you need the lowest-cost way to send $500 to a charity this week.
- You want a tax receipt when you contribute, not when the charity receives the grant
- You are comfortable with the money being invested while you decide
- You will ask for the fee schedule before you send funds
- You live in a Canadian province Assad serves, which is all 10
What Is Public, and What Is Not
| Item | What Assad publishes |
|---|---|
| Receipts | Immediate, through CHIMP, an MNP-audited public foundation |
| Investing | Assad manages the balance on its halal screens |
| Grants | You choose registered charities, on your timeline |
| Naming | Family name or anonymous |
| Where | All 10 provinces |
| Fees | Not published. Ask CHIMP's admin fee and Assad's management fee |
| Minimum | Not published |
| Religious oversight of the fund | Not published. Ask who reviews the fund itself |
Assad's broader practice screens stocks with debt under 33 percent of market value, receivables under 49 percent, cash plus interest-bearing securities under 33 percent, and non-permissible revenue under 5 percent. That is the screen family they publish. It is not the same thing as a named scholar signing off on the donor-advised fund. Get that distinction in writing if it matters to you.
How This Differs From a Normal Investment Account
Money in this fund is a charitable contribution. You recommend grants. You do not get the capital back as spending money. For a portfolio you still own, read the Assad Wealth review. Assad is a Calgary team inside IG Wealth Management, which is a CIRO member with CIPF protection, and they meet clients virtually across the country.
Manzil is the better-known halal investing app for registered accounts. It is not a donor-advised fund. Do not park charity money in a TFSA and assume that replaces a receipted gift.
Before You Contribute
Ask two fee questions in the same email. What does CHIMP charge to administer the fund, and what does Assad charge to invest it? Neither number is on the public pages, and a donor-advised fund can stack both. Also ask the minimum. A family that wanted to start with $5,000 should not find out later that the account is built for a much larger gift.
Then ask who reviews the fund for Sharia compliance, separate from the stock screens Assad publishes for its wealth practice. Those screens are specific: debt under 33 percent of market value, receivables under 49 percent, cash plus interest-bearing securities under 33 percent, and non-permissible revenue under 5 percent. A screen on the investments is not the same as a named scholar on the charitable account.
Get every halal provider graded (free PDF)
Every Canadian halal provider graded on Shariah integrity, transparency, and value - the full scorecard PDF, plus alerts when grades change
No spam ever. Unsubscribe in one click.
Contribute cash or securities only after those answers are in writing. The tax receipt comes when you put the money in, through CHIMP, not when a masjid later receives a grant. You choose the registered charities and the timing. You can put the family name on the fund or keep it anonymous.
Frequently Asked Questions
Is there a halal donor-advised fund in Canada?
Assad Wealth offers one and describes it as Canada's halal donor-advised fund. Contributions get a tax receipt through CHIMP, and Assad invests the balance on its halal screens.
What does it cost?
Neither CHIMP's administration fee nor Assad's investment fee is published, and no minimum is stated. Ask for both numbers before you contribute.
Can I contribute stocks?
Yes. Assad accepts cash or securities. The tax receipt is issued through CHIMP.
Which provinces are covered?
All 10 provinces: Ontario, Quebec, British Columbia, Alberta, Manitoba, Saskatchewan, Nova Scotia, New Brunswick, Newfoundland and Labrador, and Prince Edward Island.
Is this the same as zakat?
Compare providers in your province
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
No. A donor-advised fund is a charitable account with a tax receipt. Whether a grant counts toward zakat depends on the charity and your own calculation. Do not treat the contribution itself as an automatic zakat payment.
