North American Islamic Trust

What North American Islamic Trust does

North American Islamic Trust (NAIT) is a 501(c)(3) nonprofit Waqf (Islamic trust) organization founded in 1973 by the Muslim Students' Association of the United States and Canada (MSA) and operationally tied to the Islamic Society of North America (ISNA). Headquartered in Hometown (Oak Brook area), Illinois, NAIT holds legal title to real estate assets of Islamic centers, mosques, and schools across 42+ U.S. states — approximately 300 properties collectively valued at several hundred million dollars — to ensure their perpetual use for Islamic worship and education. Properties placed in NAIT's Waqf cannot be encumbered or disposed of unilaterally by the donor, beneficiary, or NAIT itself, creating a structural and legal barrier against loss of religious infrastructure.

NAIT operates through four principal divisions: the Islamic Centers Waqf program (property title custody), the Islamic Centers Cooperative Fund (ICCF, established 1979, pooling capital from 400+ Islamic centers and providing interest-free Qard al-Hasan loans for infrastructure), American Trust Publications (ATP, established 1976, producing 100+ Islamic titles for children, youth, and adults), and Allied Asset Advisors (a wholly-owned for-profit subsidiary, established 2000, managing the Iman Fund (IMANX) Shariah-compliant mutual fund). Revenue mechanics are diversified across donations, ICCF pooled funds, Iman Fund management fees, and publishing sales.

NAIT's go-to-market is community-led and relationship-driven, relying on referrals within the American Muslim community, the MSA/ISNA institutional network, and a public-facing website (nait.net). The organization is governed by a Board of Trustees chaired by Dr. Gaddoor Saidi, with Maqsood Quadri serving as Executive Director. In 2010, NAIT achieved legal vindication when the Fifth Circuit Court of Appeals ruled that the government's inclusion of NAIT on an unindicted co-conspirator list in the Holy Land Foundation case violated its Fifth Amendment rights.

Name

North American Islamic Trust

Legal name

North American Islamic Trust

Website

https://nait.net

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

1–10 employees

Short description

North American Islamic Trust (NAIT) is a 501(c)(3) nonprofit founded in 1973 that holds Waqf property titles for approximately 300 Islamic centers and schools across 42+ U.S. states, while operating the ICCF cooperative fund, Iman Fund, and American Trust Publications for the American Muslim community.

Ownership category

akta.pro rank

Product category

Islamic Non-Profit Trust Services

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Open-End Investment Funds (52591), Trusts, Estates, and Agency Accounts (525920)

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Islamic Investment Banking & Capital Markets Services (FSABAGAG)

akta.pro secondary industries

Islamic Treasury, Liquidity & Interbank (Commodity Murabaha, Sukuk Liquidity) (FSABAGAK), Islamic Corporate Banking (FSABAGAC)

Keywords

• Islamic Waqf services
• Community fund management
• Religious nonprofit trust
• Shariah-compliant investments
• Islamic publishing

Headquarters

HQ city

Oak Brook

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Others

Revenue model

1. Donations and Charitable Contributions: NAIT operates as a 501(c)(3) tax-exempt nonprofit organization that receives donations to support its operations and programs for the Muslim community, including campaigns for inner-city masajid and halal advocacy.
2. Iman Fund Management: Through Allied Asset Advisors, a for-profit subsidiary, NAIT manages the Iman Fund (IMANX), a Sharia-compliant mutual fund that invests in companies meeting Islamic ethical principles. The fund seeks growth of capital while avoiding interest-based businesses and prohibited industries.
3. Islamic Centers Cooperative Fund (ICCF): NAIT pools funds from Islamic centers and provides interest-free loans (Qard al-Hasan) to needy communities for establishing mosques and schools. The fund accepts deposits in trust or as loans for halal investments.
4. American Trust Publications (ATP): Publishing house that has produced over 100 books on Islamic topics since 1976 for Muslim children, youth, and adults, generating revenue through book sales.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

North American Islamic Trust (NAIT) is a not-for-profit 501(c)(3) religious institution that holds property titles in trust (Waqf) for Islamic centers and schools across more than 42 U.S. states. It operates the Islamic Centers Cooperative Fund (ICCF) to pool community deposits and provide interest-free loans to member Islamic centers, manages the Shariah-compliant Iman Fund (IMANX) through its subsidiary Allied Asset Advisors, and publishes Islamic educational literature under American Trust Publications (ATP).

Product overview

North American Islamic Trust (NAIT) operates as a not-for-profit Waqf (Islamic trust) institution offering a portfolio of religious, financial, and educational services. The core offerings include: (1) Islamic Centers Waqf - property trust services safeguarding titles to Islamic centers and schools across 42+ states; (2) Islamic Centers Cooperative Fund (ICCF) - a financial pooling mechanism providing interest-free loans to Muslim communities; (3) Iman Fund (IMANX) - a Shariah-compliant mutual fund managed through Allied Asset Advisors; and (4) American Trust Publications (ATP) - an Islamic literature publishing house established in 1976. These services work together to preserve Islamic institutions, pool community financial resources per Islamic principles, and educate Muslims in North America.

Differentiator

Problem solved

Functional benefit

Products and services

• Islamic Centers Cooperative Fund (ICCF) A community-funded pool that aggregates deposits from member Islamic centers and schools and provides interest-free (Qard al-Hassan) loans to member Islamic centers for real estate, construction, and operational needs. For Islamic centers and schools participating in NAIT's network.
• Iman Fund (IMANX) A Shariah-compliant mutual fund managed by NAIT's subsidiary Allied Asset Advisors, designed to provide Muslim individual investors with an investment vehicle that complies with Islamic prohibitions on riba (interest), gharar (excessive uncertainty), and haram sectors. For individual Muslim investors.
• American Trust Publications (ATP) The publishing arm of NAIT that produces and distributes Islamic literature including Qurans, Hadith collections, and Islamic educational books for individuals, families, and Islamic schools.
• Waqf Property Holding Services NAIT holds legal title to properties (mosques, Islamic schools, community centers) as a religious endowment (Waqf) on behalf of Muslim communities across the United States, ensuring properties remain perpetually dedicated to religious use. For Muslim congregations and Islamic institutions establishing new or existing centers.

Quantifiable outcome

• Over 40 years without losing a single Islamic center or school through lien or court-imposed liquidation
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Allied Asset AdvisorscoreOEM/ Whitelabel/ Licensing Partner · 1 January 2000Allied Asset Advisors is a for-profit subsidiary of NAIT that manages the Iman Fund (IMANX), a Sharia-compliant mutual fund offering since 2000.
• Muslim Students' Association of the United States and Canada (MSA)coreStrategic or Co-development Partner · 1 January 1973MSA founded NAIT in 1973 as a national Waqf organization to protect Islamic center properties. MSA later became the predecessor of ISNA, and NAIT maintains its foundational supporting relationship with both MSA and ISNA.
• Islamic Society of North America (ISNA)coreStrategic or Co-development Partner · 1 January 1973NAIT maintains a foundational supporting relationship with ISNA, along with its founding relationship with MSA. Both organizations work together to serve the American Muslim community.
• American Halal InstituteminorOthersAmerican Halal Institute collaborates with NAIT on halal advocacy efforts, particularly regarding accessibility and availability of Halal products and services in the public and private sector.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Amana Funds (Saturna Capital): One of the largest and longest-running families of Sharia-compliant mutual funds in the United States, offering growth, income, and global funds that screen for Islamic compliance. Directly comparable to Iman Fund (IMANX) on product offering, distribution channels, and US Muslim investor target market.
• Azzad Asset Management: US-based Registered Investment Advisor specializing in Sharia-compliant portfolios, mutual funds, and retirement accounts for Muslim and ethical investors. Directly comparable to Iman Fund and the broader NAIT investment management value proposition for ethical, interest-free investing.
• Allied Asset Advisors: Wholly-owned for-profit subsidiary of NAIT that manages the Iman Fund (IMANX), a Sharia-compliant mutual fund. Directly comparable as the operational investment management arm within NAIT's structure, sharing the same Sharia-compliance framework, board oversight, and Muslim investor target base.

Emerging players

• Wahed Invest: Digital-first Sharia-compliant investment platform serving Muslim investors globally, including the US market, with robo-advisor portfolios built on Islamic screening principles. Comparable to the Iman Fund as a Sharia-compliant investment vehicle but differentiated by technology-first delivery and broader geographic reach.
• Sarwa: Digital wealth management platform offering Sharia-compliant portfolio options alongside conventional investing, serving retail investors in the MENA region and select international markets. Comparable to Iman Fund in offering ethical, Sharia-screened investment products to retail Muslim investors through a modern interface.

Broad incumbents

• Islamic Relief USA: Established US-based 501(c)(3) nonprofit affiliated with Islamic Relief Worldwide, providing humanitarian aid, disaster relief, and community development programs. Comparable to NAIT as a major national Islamic nonprofit operating across the US with multi-decadal community trust, but differentiated by a humanitarian rather than Waqf-and-finance mandate.
• Islamic Society of North America (ISNA): Largest Muslim umbrella organization in North America, providing religious, educational, and community services nationwide. Comparable to NAIT as a foundational American Muslim institution with overlapping constituency, governance interlock (ISNA is the institutional successor of MSA, NAIT's founder), and broad community service mandate.

Others

• ICNA Relief USA: US-based humanitarian arm of the Islamic Circle of North America, providing social services, disaster relief, and community programs. Comparable to NAIT as a national Islamic nonprofit serving American Muslim communities through grassroots programs and member-network distribution.
• Council on American-Islamic Relations (CAIR): Largest US-based Muslim civil rights and advocacy organization, providing legal support, policy advocacy, and community education. Comparable to NAIT as a high-profile national American Muslim nonprofit with overlapping community trust, but focused on civil liberties and advocacy rather than trust, finance, and publishing.
• Zakat Foundation of America: US-based 501(c)(3) nonprofit focused on collecting and distributing Zakat, Sadaqah, and Fitrah to Muslims and humanitarian causes domestically and internationally. Comparable to NAIT in serving the American Muslim community through religious-financed charitable infrastructure, though focused on Zakat rather than Waqf and Islamic finance.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/north-american-islamic-trust-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about North American Islamic Trust