Waqf (Endowment) literarily means “Habsun and Tasbilun” meaning keep / preserve and direct to a good cause. Waqf (Endowment) means putting aside the original property and donating its benefits for the sake of Allah. What is meant by the original property is something from which benefit may be derived whilst its essence remains. Examples are houses, shops, gardens, etc. Benefits is beneficial produce that comes from the original property, such as crops, rents, provision of shelter, etc.
Jaabir (RA) said: “There was no one among the Companions of the Messenger of Allaah (peace and blessings of Allaah be upon him) who had the means, but he set up a waqf.”
Interested Muslims can setup endowments/Waqf using any of their properties (houses, shops, farms etc) for the benefit of NAZAS and for onward charity/distribution of its produce (rent, crops) to the needy.