The Mainstay Foundation
- Assets
- $465.4k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 5
- Location
- Dearborn, MI
- Founding
- 07/2014
- Data as of
- 12/2022
- EIN
- 46-4286586
Organization Overview
The Mainstay Foundation is located in Dearborn, MI. The organization was established in 2014. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Mainstay Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mainstay Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Mainstay Foundation generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 28.2% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 25.0% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Mainstay Foundation has awarded 26 individual grants totaling $114,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE MUSLIM COMMUNITIES, ORGANIZATIONS, AND INDIVIDUALS IN THE UNITED STATES OF AMERICA BY DEVELOPING THEIR INTELLECTUAL, SPIRITUAL, SOCIAL, AND FINANCIAL ASPECTS, UTILIZING THE MOST ADVANCED METHODOLOGIES AND TECHNOLOGIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOCUS OF THE ORGANIZATIONAL DEVELOPMENT INITIATIVE WAS TWOFOLD: CREATE A PLATFORM FOR CENTERS AND ORGANIZATIONS TO CONNECT, COMMUNICATE, AND COLLABORATE; AND PROVIDE TANGIBLE SERVICES AND RESOURCES TO ORGANIZATIONS AND CENTERS. THE MAJOR PLATFORM WAS THE ENGAGE CONFERENCE HELD IN DEARBORN, MI. A WEB PLATFORM CALLED THE HUB WAS DEVELOPED TO PROVIDE ESSENTIAL SERVICES TO SERVED ORGANIZATION, INCLUDING A SPEAKER'S BUREAU, CONSULTANTS AND DIGITAL CONTENT.
THE FOCUS OF THE HUMAN DEVELOPMENT INITIATIVE WAS THREEFOLD: PROVIDING EDUCATIONAL CONTENT TO OUR COMMUNITY THROUGH CLASSES AND RELIGIOUS PROGRAMMING, CAPACITY BUILDING THROUGH WORKSHOPS AND RETREATS, AND PUBLICATIONS. WITH CLASSES AND RELIGIOUS PROGRAMMING PRESENTERS FROM THE FOUNDATION'S SPEAKER'S BUREAU DELIVERED EDUCATIONAL CONTENT THROUGH PROGRAMS CONDUCTED IN PARTNERSHIP WITH OTHER RELIGIOUS ORGANIZATIONS AND CENTERS. IN TERMS OF CAPACITY BUILDING, THE FOUNDATION'S FOCUS WAS ON THE RELIGIOUS, PERSONAL, AND PROFESSIONAL DEVELOPMENT OF ITS SERVED COMMUNITY, WITH A SPECIAL FOCUS ON UNIVERSITY STUDENTS. THE FOUNDATION ALSO PUBLISHED TRANSLATED AND ORIGINAL WORKS FOR A WIDE AUDIENCE.
OUR ECONOMIC DEVELOPMENT AND HUMANITARIAN AID PROGRAMS HELP PROVIDE CLEAN WATER, FOOD, MEDICAL AID, CLOTHING, HOUSING, EDUCATIONAL SUPPORT, AND MORE. WHETHER IT IS DIGGING WELLS IN AFRICA OR PROVIDING UNIFORMS AND BOOKS IN INDIA, WE HAVE PARTNERED WITH LOCAL AND INTERNATIONAL ORGANIZATIONS AROUND THE WORLD TO UPLIFT AS MANY COMMUNITIES AS WE CAN AND HELP ALLEVIATE THE SUFFERING FROM THE IMPOVERISHED AND WORLDWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mohamed Ali Banoon Secretary | OfficerTrustee | 2 | $0 |
Khodr Hamka President | OfficerTrustee | 2 | $0 |
Jalal Moughania Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,217,182 |
| Noncash contributions included in lines 1a–1f | $97,835 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,217,182 |
| Total Program Service Revenue | $73,607 |
| Investment income | $40 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,290,829 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $71,232 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $381,792 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $67,198 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,646 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,284 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,160 |
| Advertising and promotion | $7,282 |
| Office expenses | $28,815 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $169,938 |
| Travel | $226,941 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,837 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,450 |
| Insurance | $6,756 |
| All other expenses | $13,020 |
| Total functional expenses | $1,136,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $436,159 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,935 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,327 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $465,421 |
| Accounts payable and accrued expenses | $141 |
| Grants payable | $0 |
| Deferred revenue | $94,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,977 |
| Total liabilities | $98,118 |
| Net assets without donor restrictions | $367,303 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $465,421 |
Grants Awarded
Over the last fiscal year, The Mainstay Foundation has awarded $20,750 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
AL-GADEER BENEVOLENT FOUNDATION PURPOSE: ORGANIZATIONAL DEVEL | $5,500 |
IMAM HUSSAIN ISLAMIC CENTER PURPOSE: ORGANIZATIONAL DEVEL | $10,000 |
ISLAMIC EDUCATION FOUNDATION OF ARI PURPOSE: ORGANIZATIONAL DEVEL | $5,250 |