Overview
What is The Mainstay Foundation?
The Mainstay Foundation is a nonprofit organization situated in Dearborn, Michigan, with a focus on supporting and uplifting the Muslim communities, organizations, and individuals in the United States. It aims to enhance their intellectual, spiritual, social, and financial aspects using advanced methodologies and technologies. The organization's development initiative involved creating a platform for centers and organizations to connect, communicate, and collaborate, primarily through the Engage Conference held in Dearborn. Furthermore, a web platform named The Hub was developed to offer essential services and resources to served organizations, including a speaker's bureau, consultants, and digital content. The Mainstay Foundation is led by a team of five dedicated individuals.
Official website here: www.mainstay.us
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star rating.
The Mainstay Foundation has achieved a 77% rating, reflecting solid performance in accountability and finance. This rating is based entirely on the Accountability & Finance beacon, where it scored particularly well in areas such as an independent board, material diversion of assets, and maintaining a strong program expense ratio of 79.36%. With 100% of its board members being independent, the organization demonstrates a commitment to governance and oversight.
However, there are some limitations noted in the rating. The organization is missing a whistleblower policy, which is a significant component of transparency and accountability. While it performs well in several areas, the absence of this policy may raise concerns about the organization's internal controls and reporting mechanisms, which are essential for fostering a culture of integrity.
Overall, The Mainstay Foundation demonstrates a commitment to responsible financial management and governance, though improvements in its policy framework could further strengthen its accountability. The high program expense ratio indicates a strong focus on mission-driven activities, which is a positive sign for potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is The Mainstay Foundation legitimate?
The Mainstay Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Mainstay Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $67,198
For more financial information, click here
Official website here: www.mainstay.us
What is the mission statement of The Mainstay Foundation?
The Mainstay Foundation's mission is to enhance the intellectual, spiritual, social, and financial aspects of Muslim communities, organizations, and individuals in the United States. They achieve this goal by utilizing advanced methodologies and technologies. The organization's primary objective includes establishing a platform for centers and organizations to connect, communicate, and collaborate, as well as providing tangible services and resources to these organizations and centers. The Major platform developed for this purpose was the Engage Conference and a web platform called The Hub, which offers essential services such as a speaker's bureau, consultants, and digital content to the served organizations.
Official website here: www.mainstay.us
Who is the CEO of The Mainstay Foundation?
Mohamed Ali Banoon is the Secretary of The Mainstay Foundation.
Official website here: www.mainstay.us
What is the revenue of The Mainstay Foundation?
The Mainstay Foundation's revenue in 2022 was $1,290,829.
Official website here: www.mainstay.us
Who are the executives of The Mainstay Foundation and what are their salaries?
The average compensation at The Mainstay Foundation during 2022 was $13,440. There are 5 employees and 25 volunteers at The Mainstay Foundation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mainstay.us
Where can I find the form 990 for The Mainstay Foundation?
The Mainstay Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mainstay.us
Learn more at the official website: www.mainstay.us
Mission Statement of The Mainstay Foundation
The Mainstay Foundation is committed to enhancing the well-being of Muslim communities, organizations, and individuals in the United States. They aim to achieve this by focusing on four key aspects: intellectual, spiritual, social, and financial development. Utilizing advanced methodologies and technologies, this organization strives to uplift these communities and individuals, fostering their growth and progress.
One of the primary ways The Mainstay Foundation achieves its mission is through its organizational development initiative. This initiative has two main objectives: creating a platform for centers and organizations to connect, communicate, and collaborate, and providing tangible services and resources to these organizations and centers. A notable example of this is the Engage Conference held in Dearborn, MI, which served as a significant platform for such connections. Additionally, a web platform called The Hub was developed to offer essential services to the served organizations, including a speaker's bureau, consultants, and digital content.
In a nutshell, The Mainstay Foundation's mission is to uplift and support the Muslim communities, organizations, and individuals in the United States by fostering their intellectual, spiritual, social, and financial growth, leveraging advanced methodologies and technologies to connect, communicate, and collaborate with other organizations, as well as providing essential services and resources.
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Impact
July, 2024
The Mainstay Foundation has had a significant impact on advancing Muslim communities, organizations, and individuals in the United States. Through their initiatives, they have focused on developing intellectual, spiritual, social, and financial aspects using advanced methodologies and technologies. One of their key achievements was creating a platform for centers and organizations to connect, communicate, and collaborate, ultimately enhancing the support and resources available to these groups. The Engage Conference in Dearborn, MI, served as a major platform for this collaboration. Additionally, their web platform, The Hub, offered essential services such as a speaker's bureau, consultants, and digital content, further benefiting the organizations and centers they serve. Overall, The Mainstay Foundation's work has had a positive and meaningful impact on the Muslim community in the United States.
This information is meant to be a general summary of The Mainstay Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $40
- Program Service Revenue: $73,607
- Gross Receipts: $1,290,829
Assets and Liabilities:
- Total Assets: $465,421
- Total Liabilities: $98,118
- Net Assets: $367,303
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAMS AND CLASSES
Revenue
$52,374
BOOK SALES AND MERCHANDISE
Revenue
$20,120
OTHER MISCELLANEOUS
Revenue
$1,113
Organization Details
Founding Year
2012
Phone
(313) 451-2148Principal Officer
Mohamed Ali Banoon
Main Address
15170 N COMMERCE DR, DEARBORN, MI, 48120
Website
www.mainstay.usNTEE Category
Code: W99 - Public benefit
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