MACCLM is Leasing Property

Tuesday, May 9, 2023

MACCLM has been leasing the property at 344 Lowell Street, Lexington, MA. The lease ends in April 2024. This property was initially purchased for $1.3 Million by the Lexington Peace Center (LPC). Brother Dr. Mohammad Abdul Jaleel and Sister Shermin Jaleel are the trustees of the trust which owns LPC. The intention has always been for MACCLM to eventually take ownership of the property from LPC.

The Board of MACCLM has been actively working towards purchasing the current property and has sent another invitation letter to Br Mohammad Jaleel and is waiting for his response. We have asked him to respond by May 31st.

MACCLM is funded by the Muslim community in and around Lexington. All rent, utilities and services for the center has been paid by MACCLM. The rent paid to date is intended to count towards the purchase price of the property once MACCLM was financially ready for the purchase.

MACCLM has over $500,000 in savings from past fundraising events and donations. Alhamdulillah, we were able to raise more than $150,000 during the 2023 Ramadan Fundraising event. In addition, we have secured commitments (in the form of qard-hasana) from members of the community for several hundred thousand dollars for the purpose of purchasing a property. All funds raised to buy the property is untouched. Thanks to the generous donations from the sustaining members and the community members, MACCLM has supplemental funds to cover all the operational costs.

Fig 1: Funds Raised to Purchase Property

Fig 2: 2022 Balance Sheet