The Mainstay Foundation

Analysis

The Mainstay Foundation is a registered charity in United States, based in Dearborn, MI. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Mainstay Foundation reported income of $1.0m and spending of $1.1m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $372k to $1.0m (+178%), an average of +29% a year. The sharpest change came in the year to December 2022, when income rose by 188%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Mainstay Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within MI. Charities of a similar size with the same main cause include North Whidbey Help ($1.0m), Golden State Youth Orchestra Association ($1.0m) and Freestone County Fair Association Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. Other salaries and wages came to $106k. At year end it held assets of $330k against liabilities of $24k, net assets of $305k. It reported 5 employees.