THE MAINSTAY FOUNDATION
The Mainstay Foundation primarily awards grants to organisations to assist them in their activities in line with the objectives of the charity. The objective of the charity is to assist the advancement of Shia Muslim communities globally in the areas of Religion, Education and Development. The Mainstay Foundation also establish some initiatives, such as events, in line with its objectives.
Financial health, per its FY2025 accounts
The accounts state that the charity reported a surplus of £569,580 for the year ended 31 March 2025, with total income of £5,717,606 and total expenditure of £5,147,426. Per the trustees' report, unrestricted reserves stood at £1,756,163, which is above the stated policy target range of £750,000 to £1,100,000.
What the accounts disclose
“Consequently, the Charity has adopted a policy to maintain a significantly higher level of unrestricted reserves, ranging between £750,000 and £1,100,000.” — page 29
Structured financials (annual return, FY ending 31/03/2025)
Trustees
- Mohammad Marashichair
- Dr Riyaz Amirali Kaba
- HAIDAR BAHAR AL-ALOOM
- HASSAN ALI MOHAMMEDMAHDI AL-HAKEEM
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £5.7m | £5.1m |
| 31/03/2024 | £5.4m | £5.6m |
| 31/03/2023 | £4.2m | £3.4m |
| 31/03/2022 | £2.6m | £2.4m |
| 31/03/2021 | £2.8m | £3.2m |
Common questions
Is THE MAINSTAY FOUNDATION financially healthy?
Per its FY2025 accounts: The accounts state that the charity reported a surplus of £569,580 for the year ended 31 March 2025, with total income of £5,717,606 and total expenditure of £5,147,426. Per the trustees' report, unrestricted reserves stood at £1,756,163, which is above the stated policy target range of £750,000 to £1,100,000. Its FY2025 accounts were audited by MHA.
Who funds THE MAINSTAY FOUNDATION?
Funders whose own accounts filings name THE MAINSTAY FOUNDATION as a grant recipient include THE WORLD FEDERATION OF KHOJA SHIA ITHNA-ASHERI MUSLIM COMMUNITIES.
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| THE WORLD FEDERATION OF KHOJA SHIA ITHNA-ASHERI MUSLIM COMMUNITIES | FY2021 | £80k | Relief |
| THE WORLD FEDERATION OF KHOJA SHIA ITHNA-ASHERI MUSLIM COMMUNITIES | FY2021 | £29k | Advancement of Education |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE LADY FATEMAH (A.S.) CHARITABLE TRUST | 1 | £520k |
| SABEEL FOUNDATION | 1 | £424k |
| ZOUQ FOUNDATION | 1 | £269k |
| BAIG WELFARE FOUNDATION | 1 | £77k |
| EPSOM AND EWELL ISLAMIC SOCIETY | 1 | £52k |
| UBS UK Donor-Advised Foundation | 1 | £5k |
| THE DAKRI CHARITABLE TRUST | 1 | £4k |
| Indigent Welfare and Education Trust | 1 | £2k |
Charities like this
- AL-KHAIR FOUNDATION
- ISSA FOUNDATION
- THE KAYS FOUNDATION
- AL-MUSTAFA COMMUNITY TRUST
- KHOJA SHIA ITHNA-ASHERI MUSLIM COMMUNITY OF BIRMINGHAM
- AL KHIDMAH FOUNDATION
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| THE MAINSTAY FOUNDATION | £5.7m | — | 0 | above | — | no doubt |
| AL-KHAIR FOUNDATION | £74.8m | £57,624 | 0 | unclear | — | no doubt |
| ISSA FOUNDATION | £9.9m | — | 0 | above | — | no doubt |
| THE KAYS FOUNDATION | £1.1m | £374,502 | 1 | unclear | — | no doubt |
| AL-MUSTAFA COMMUNITY TRUST | £129k | — | 0 | below | — | no doubt |
| KHOJA SHIA ITHNA-ASHERI MUSLIM COMMUNITY OF BIRMINGHAM | £3.0m | — | 0 | unclear | — | no doubt |