A Continuous Charity Review — Halal Finance Products

A Continuous Charity (ACC) is an Irving, Texas 501(c)(3) (EIN 45-5424452) founded by Dr. Athar Haq that describes itself as the first national Muslim charity offering community-funded, riba-free student loans (its own characterization). It has operated since at least 2015 - evidenced by ten consecutive published Form 990s - and reports lifetime impact of $10.7 million awarded to 775 students, $5 million repaid and recycled, and $6.4 million in riba avoided (all org-claimed; older pages carry smaller, earlier snapshots). Its name comes from the sadaqah jariyah hadith, and its stated ambition is to revive the Prophetic waqf system. Note its canonical domain is acceducate.org - the older accharities.org no longer resolves.

The core product is a Qard Hasan educational loan: recipients sign a legally binding contract, provide a cosigner, and repay exactly what they borrowed - 'no interest, no hidden fees, just dollar for dollar.' Funds go directly to the educational institution, never the student. The standard contract runs about four years, which is what makes the revolving model work: ACC's own worked example shows a $50,000 pool lent in 2016 fully returned by 2020 and re-lent. Since January 1, 2025, ACC performs soft credit pulls on awardees, the loan appears on credit reports, and delinquencies of 90+ days are reported to a credit bureau - a meaningful accountability upgrade.

Eligibility spans US citizens, permanent residents, and DACA recipients with an SSN, enrolled anywhere from community college and trade programs to master's and doctoral degrees, in any field. A 3.0 GPA is 'preferred but not an absolute must,' background checks are conducted, and selection weighs four criteria: merit, Islamic character, community involvement, and financial need. The annual cycle opens in mid-January (the 2026 application opened January 15), finalists interview by phone or video, and decisions land in June. Priority goes to students in communities where local fundraising has occurred - 'local investing with local rewards' - supported by ten state chapters (PA, IL, MI, NJ, OH, FL, VA, MN, WI, CA).

Beyond new loans, ACC runs a refinance program for employed graduates burdened by interest-based student debt: ACC pays all or part of the principal directly to the loan holder based on available funding, with a personalized repayment plan and priority for those who can repay quickly. The graduate remains responsible for interest already accrued. Separately, targeted programs include Educational Justice (phase 1: 13 African American students in five cities at up to $20,000 each), ACC for Women's Empowerment (168 female students funded, including the #FundHerFuture partnership for divorced and widowed women), and ad-hoc partner-funded grants and scholarships administered with no management fee.

The donor architecture is what turns ACC into infrastructure. Legacy Funds ($10,000 plus a $300 setup fee) are named, perpetual revolving funds whose repayments re-lend indefinitely; roughly 50 exist, from family memorials to an HBCU Partnership Fund and a Malcolm X Memorial Legacy Fund. Educational Partnership Funds let mosques, Islamic schools, and charities stand up their own loan fund with a $25,000 minimum and a one-time 10% setup fee, while ACC handles underwriting, contracts, servicing, delinquencies, and annual reporting - dozens of institutions have adopted it. A waqf endowment (invested in halal income-generating assets) and the 'Power of 100K' initiative ($10/month from 100,000 donors toward a $10M endowment) aim to make operations self-sustaining.

Governance is lean but transparent: a five-member board (including alumni of Boston Consulting Group and University of Chicago Booth), an open-nomination advisory board meeting quarterly, and religious counsel from Sh. Omar Suleiman and Sh. Yaser Birjas - two of the most recognized scholars in American Islam, though styled as counsel rather than a formal certifying Shariah board. The published zakat policy is notably rigorous: zakat cannot fund Qard Hasan loans; it is applied to paying down students' riba-based debt under al-gharimin (Quran 9:60) and to needs-based aid, with segregated tracking, direct-to-institution payment where possible, and committee review. What ACC doesn't publish is a repayment or default rate - the $5M-repaid figure is the closest proxy.