Zakah given to a charitable association dedicated for teaching the Noble Qur'an, yet it deposits the money in a company for investing it

Q: Since the foundation of the Charitable Institution for Teaching the Noble Qur'an in `Asir, it deposits its funds in Al Rajhi Bank. These funds are raised by a group of charitable people, in the form of Zakah (obligatory charity) and Sadaqah (voluntary charity). Please advise us in detail regarding any Zakah due on these funds. May Allah reward you with the best!Second question: The Institution owns a piece of land which was bought ten years ago for the purpose of an investment project. Due to their inability to bear the costs of such a project, the land was sold this year to finance the building of their headquarter on a piece of land which was secured from the state. Was Zakah due on the land concerning the past years, or is Zakah due on the price after the passage of Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) if the money is not spent? Is there Zakah on the deposited funds of the Institution at Al Rajhi Bank for the past years? If yes, what is the ruling concerning the years in which Zakah was not paid? May Allah grant you success! May peace and blessings of Allah be upon our Prophet Muhammad! A: There is no Zakah due on the funds of the Institution of Teaching the Noble Qur'an because (Part No. 8; Page No. 204

A: There is no Zakah due on the funds of the Institution of Teaching the Noble Qur'an because (Part No. 8; Page No. 204) they are specified for benevolent purposes and are spent on charitable projects. However, teachers at the Institution should not be paid from Zakah funds unless they are poor. Their salaries should be paid from the voluntary Sadaqah.May Allah grant us success. May Peace and Blessings of Allah be upon our Prophet Muhammad, his family and his Companions!