Overview
What is Main Street Foundation?
Main Street Foundation, located in Austin, Texas, is a nonprofit organization that primarily focuses on the education and development of community bankers. They offer a blend of instructor-led and online seminars, as well as banking schools, to teach the rules and regulations governing lending, investments, and operational practices in community banks. The foundation's mission is to promote financial literacy and actively contribute to creating a more secure financial future for all Texans. Their initiatives often support financial literacy programs for bankers, aiming to make a positive impact on the community banking sector.
Official website here: www.ibat.org/foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
The Main Street Foundation received an overall score of 81%, indicating a commendable level of accountability and financial health. This rating is based entirely on the Accountability & Finance category, showcasing the organization’s strong commitment to transparency and responsible management of funds. An impressive program expense ratio of 95.94% highlights that the vast majority of its expenditures are directed towards its programs, reflecting effective use of resources.
The foundation has demonstrated solid governance practices, with 77% of its board members being independent. The independent board size consists of seven members, which enhances its oversight capabilities. Additionally, the organization has comprehensive policies in place, such as conflict of interest and whistleblower policies, contributing to its governance strength.
While the overall rating is favorable, it is important to note that the score is solely derived from one category, which may limit insights into other operational aspects. However, the absence of material diversion of assets and the presence of an audit and oversight committee further affirm its reliability as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Main Street Foundation legitimate?
Main Street Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Main Street 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: $135,877
Professional Fundraising Fees: $0
Other Salaries and Wages: $271,174
For more financial information, click here
Official website here: www.ibat.org/foundation
What is the mission statement of Main Street Foundation?
The Main Street Foundation's mission is centered around promoting the development of community bankers and fostering financial literacy. Through funding various initiatives, the organization aims to empower community bankers to contribute to a more secure financial future for all individuals. The focus is primarily on financial literacy programs designed for bankers. The foundation offers a blend of practical seminars and banking schools, which delve into the rules and regulations governing lending, investment, and operational practices in community banks.
Official website here: www.ibat.org/foundation
Who is the CEO of Main Street Foundation?
Hazem Ahmed is the Chair of Main Street Foundation.
Official website here: www.ibat.org/foundation
What is the revenue of Main Street Foundation?
Main Street Foundation's revenue in 2022 was $816,564.
Official website here: www.ibat.org/foundation
Who are the executives of Main Street Foundation and what are their salaries?
There 50 volunteers at Main Street Foundation.
Here are 11 key members and their salaries:
- Compensation: $113,834
- Related: $54,907
- Other: $27,816
- Compensation: $3,043
- Related: $196,489
- Other: $44,261
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.ibat.org/foundation
Where can I find the form 990 for Main Street Foundation?
Main Street Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ibat.org/foundation
Learn more at the official website: www.ibat.org/foundation
Mission Statement of Main Street Foundation
Main Street Foundation, as a nonprofit organization, is dedicated to promoting the development of community bankers and fostering financial literacy. Its mission is to fund initiatives that empower community bankers to actively contribute to creating a more secure financial future for all Texans. The focus of Main Street Foundation's efforts is primarily on financial literacy programs designed specifically for bankers.
To achieve its mission, Main Street Foundation offers a variety of educational resources. These resources encompass a blend of practical, instructor-led and online seminars, as well as banking schools. These educational platforms delve into the intricacies of rules and regulations that govern lending, investments, and operational practices in community banks. By equipping community bankers with this knowledge, Main Street Foundation aims to strengthen their capacity to provide sound financial services and contribute positively to their communities.
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Impact
July, 2024
Main Street Foundation's impact lies in the promotion of the development of community bankers and the teaching of financial literacy. Through a variety of practical seminars, online courses, and banking schools, the foundation equips community bankers with the knowledge and skills necessary to navigate the rules and regulations governing lending, investment, and operational practices in community banks. By funding initiatives that empower community bankers to actively contribute to creating a more secure financial future for all Texans, Main Street Foundation's focus on financial literacy programs for bankers ensures that individuals and communities are better equipped to make informed financial decisions.
This information is meant to be a general summary of Main Street 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.
- Program Service Revenue: $575,782
- Gross Receipts: $816,564
Assets and Liabilities:
- Total Assets: $633,352
- Total Liabilities: $509,961
- Net Assets: $123,391
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SEMINAR
Revenue
$575,782
Organization Details
Founding Year
1999
Phone
(512) 474-6889Principal Officer
Hazem Ahmed
Main Address
1700 RIO GRANDE STREET STE 100, AUSTIN, TX, 78701
Website
www.ibat.org/foundationNTEE Category
Code: W022 - Public benefit
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