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Takaaful T&T Friendly Society 18th AGM Brochure 22

11.2 Property
No additional properties were received during the period under review.

11.3 Income
A dividend income of $36,811 was realized.

11.4 Operating Expenses ($11,768)
Two thousand (2,000) Waqf Brochures were printed at a cost of $2,400. Advertising on
cable television and radio amounted to $8,700. Bank charges amounted to $668.

11.5 Distribution Expenses
($56,626)
Twenty-one beneficiaries of the
Specific Purpose Waqfs
received $4,801 plus an
additional $21,000. A total of
$15,000.00 was paid to fifteen
FBS claimants (bereaved
families). The BOM continues
to supplement the FBS grant
with $1,000 from the Waqf
surplus. $10,000 was given to one family towards completion of their house. Based on
an offer of lifetime membership and FBS participation to Imams, $1,100 was spent on 22
Imams. Three “New Muslims” received a grant of $1,250 to cover the cost of
Membership, FBS Participation for one year and $1,100 in the Investment Fund. A new
category “Needy Non-Muslim” was added with $2,190 going towards spectacles for two
students at Madras Government Primary School.

11.6 Reserves
In 2015, $1,841.00 was credited to the Reserve account, and this represents 5 % of the
investment income. At the end of the year, the accumulated Waqf Reserves figure was
$13,854.00.

11.7 Accumulated Surplus
There was a net deficit of $31,249.00 for 2015. The Brought Forward accumulated
surplus of $54,761.00 was reduced to $21, 671.00.

11.8 Marketing
 Waqf Booklet – published by the Society in 2009 – we have a small quantity in
stock and as a result we intend to issue a second edition.

 Website- A PowerPoint Presentation on Waqf remains on our website.

 Waqf Posters- Six (6) Waqf Posters are displayed among our posters at booths
and special events.

Waqf Brochure- a comprehensive full colour brochure was printed and
distributed.