Trustees, Report and Financial Statements THE MAINSTAY F O U N D A T l O N April 23 - March 24 STRENGTHENING FAITH I FOSTERING EDUCATION | DEVELOPING COMMUNITIES WINW.MAINSTAY.UK THE 00000 MAINSTAY CIO Number: CE006901 Charlty Re8lsterÈd Number: 1166017 F O U N D A T l Q N +• &t41NSTAYFOUNPATIOPJANNUALREPORT2Y24 Contents Chairfs Statement Who Are We Goals and Objectives Achievements and Performances r12 Stren8thenlng Falth Fosterins Education Developin8 Communltles 41 Our People Our Plans 24125 Flnanclal oVe￿IeW 8alance Sheet Statement of Cashflows Notes to the Accounts Key Flnanclal Pollcles Structure. Governance and Management Reference and Administrative Details of the Charity. its Trustees and Advisers JPthJWL NSTAYFOUNOAT10I4ANNi￿REFffftl 2Y24 The rustees Report In the Name of Allah, the Most BeneAicent the Most Mercifvl •JNSTAYFOUNDAnoN ANNUAL REPORT23Q4 Chair's Statement Who We Are l am pleased to present our annual report for The Mainstay Foundation. Looking at the year passed there are many reasons to be proud of our achievements. We have partnered with even more organisations in the UK and internationally and expanded our reach to more beneficiaries to move foward towards our mission of educatin developing communities and strengthening faith. Despite the challenging economic situations. our public fundraising reached a new target and l am confident that our team will work creatNely to achieve higher targets in the future. The Mainstay Foundation was established in 2016 to alleviate the struggles of Shia Muslim communities and build on the many successes of our community while facilitating global collaboration and development. Our journey began with three clear objectives.. strengthening faith, fostering education, and developing communities. Over the years. we have targeted the ongoing challenges faced within the communities across East Africa. India, the Middle East. Europe, and North America. With the help of a dedicated team. we continue to deliver impactful and pioneering projects. such as providing grants to centres and mosques. hosting annual events like The Muslim Convention. and publishing thought-provoking books. We also undertake projects in a partner-led manner to ensure efficient delivery and successful planning. Our projerts range from providing developmental aid, such as water. food, medical, and orphan assistance, to sponsoring a child's education, and offering vocational training to the impoverished in East Africa. India and Iraq. As always delivering efficiency is at the core of our approach. we recognise the important responsibilities we have towards our beneficiaries as well as our philanthropists and donors and strive to maintain our accountability and quality of seNice. We believe progression 15 a journey rather than a destination. hence we endeavour to enhance OLbr work everyday ofthe year. SeNng is an opportunity for all of us. a blessing and an important responsibility, that is why our team is eager to deliver and to touch more lives for their betterment. "Advancement of Shia Muslim comrnunities-. is not just our slogan it is our reason. A reason that drives our team and makes them overcome the challenges and difficulties associated with our work. l am exclted about our future efforts to convene. explore, and collaborate wlth our partnerln8 organlsatlons and Indlvlduals dedicated to addresslng the communltys most urgent needs. Before starting any project. we assess the demand by conducting suryeys and needs assessments to ensure that the project provides optimal benefits. is self-sufficient. and guarantees community growth. We then work tirelessly to execute and deliver the project, tracking the progre55 to ensure everything runs smoothly. At The Mainstay Foundation. we look forward to 3 bright future for our Shia Muslim community, and all of humanity. with continued effort5 towards (he betterment of our society and the human condition. While we have alway5 prided ourselves on being responsive and wid ranging in our work. we recognise the need to focus our efforts to maximise impact with our resources. This means making our work more targeted and proactive where necessary. l am excited about our future efforts to convene, explore. and collaborate with our partnering organisations and individuals dedicated to addressin8 the communitys most urgent needs. A heartfelt thank you to our amazing team for their dedication, our voILtnteers for their valuable help. and our philanthropists and donors for their generous support in helping us pave the way for our breakthroughs. Flnally. and most Important￿ thanks and gratitude to God almighty for granting us this opportunity to serve and we ask him to empower us to carry on with this important mission. OUR OUR VISION MISSION To be the flagship Shia Muslim organisation in community development. To assist in the advancement of Shia Muslim communities globally in the areas of Faith, Education and Development. Sayyid Mohammad Marashi MAINS7AY FOiINDATION 4NNUAL REPORT23124 NSTAYFoUWJAnONANN￿ REFtyT 2Y24 The Mainstay Foundation's objectives are as follows: Goals and Objectives Fostering Education Developing Communities The prlmary mlsslon of The Malnstay Foundation is to assist in the advancement of Shia Muslim communities globally in the areas of religion. education and development. To advance education. specificalty within the Shia Ithna Ashari Muslim community, The Mainstay Foundation undertook the following initiatives: Community development lies at the core of The Mainstay Foundation's mission, encompa55ing 5UStainable development with a specific emphasis on poverty alleviation, financial empowerment, and fostering unity and collaboration. While The Mainstay Foundation's initiatives may extend beyond the Shia Ithna Ashari Muslim community, the primary focus remains on supporting this demographic. To advance the religion of Islam in accordance with the principles and tenets of the Shia Ithna Ashari {Twelver Shia) Muslim faith. The Malnstay Foundatlon carrled out the following activities in pursuance of its charitable objectives: GRANT MAKING The Mainstay Foundation broadened its grant distribution efforts. extendin8 SUPPOrt to both new and established partners in Africa, India, UK. and Iraq. These grants were instrumental in bolstering a range of projects geared aimed at improving educational access for children in underserved and impoverished areas. Initiatives included covering various expenses for students in India and Iraq. such as tuition fees, uniforms. books, transportation. meals, and stationery supplies. Additionally. The Mainstay Foundation provided smart boards in some regions and equipped science laboratories to enhance the learning experience for children. Moreover. students received ongoing assistance, guidance and encouragement to pursue further educational opportunities. To advance education. primarily amongst adherents of the Shia Ithna Ashari Muslim faith, by providing support to institutions and scholarships to Individuals. One significant initiative within this framework encompassed the following: strengthening Faith GRANT MAKING The Mainstay Foundation conducted the following actwities to promote the Shia Ithna Ashari (Twelver Shia) Islamic faith in alignment with its principles and beliets. The Mainstay Foundation disbursed grants to local partner5 operating in Tanzania, Kenya, Malawi, Rwanda. Uganda and India. These grants were designated to support projects aimed at fostering community development in these areas. Grants were allocated to local partners with the primary goal of supporting poverty relief initiatives. These activities were overseen and managed by our partners. They included: To promote community development, primarily for but not limited to adherents of the Shia Ithna Ashari Muslim faith, through various, means Including: GRANT MAKING During the financial year ending in March 2024. The Mainstay Foundation predominantly allocated funds to support initiatives in the United Kingdom. the USA. Europe. Africa. Thailand and India as part of its sustained commitment to promoting religion. These grants were evaluated on a case-by-case basis and extended to charities and organisations for multiple projects, designed to facilitate the execution of religious initiatives and promote Islamic knowledge. Providing financial assistance to orphans and their caregivers Offering medical treatments and consultations Relieving poverty and improving living conditions within socially and economically disadvantaged communities and vulnerable groups. Durlng the reportlng perlod. The Malnstay Foundation continued its support of Y4ater ald Inltlatlves. It provlded grants to local partners for the installation of clean drlnklng water sources and sanltatlon facilities in East Africa and India. Distributing clothing and food aid in the form of food baskets. containing essential ingredients to sustain families, alongside courses aimed at imparting basic trade skills DIRE￿ ACTIVITIES Alleviating financial needs and suffering amongst victims of natural and other disasters. including promoting 5U5tainable means of achieving economic growth and regeneration. The Mainstay Foundation actively carries Out projects in the United Kingdom with the primary goal of promoting faith. These proierts focus on addressing needs that are not met by other organisations. while also 5UStaining and enhancing ongoing initiatives. Promoting national and international conflict resolution and reconciliation. NSTAYFOUWIAT1014ANNU Chan One iing the World amily at a Time... In April 2023. a 27-year-old woman entered the distribution centre in India to collect her food basket in time for the holy Month of Ramadhan. It was then discovered that she was in her advanced stage of pregnancy with very little nutritional supporr. She lived in a small home with four other family members. Her husband's nephews, 15 and 17, had recently lost their parent5 and were now living with the woman, her husband and their 5-year-old daughter. The woman's husband. 33, works as a hand embroiderer and performs the ceremonial act of washing the deceased to earn a living. Despite hi5 efforts, his annual income of approximately £500 was insufficient to sustain the family. The mother was given a food basket and enrolled into the mother and child programme. Thi5 program provided her with regular medical checkups and a supply of medication as prescrlbed by a senior doccor at a government hospital. The family also received a water purifier, the daughter enrolled in a school through the education aid program, and the two nephews were enrolled in the vocational training program to receive academic training. This support ave the younger members of t eir family a second chance at pursuing their dreams. hievements "& PerfornraThcB* NSIAYFOUWIAnOP4ANNUAL Centres Grant Many Shia Muslim communities either lack dedicated community centres or have existing facilities that are outdated and in need of renovation. Addressing these issues is crucial as community centres and mosques serve as vitsl hubs for spiritual growth. educational programmes, and social connections. Without proper facilities, communities can struggle to come together for worship, learning, and support. The Mainstay Foundation offered grants to mosques. community centres, and other organisations seeking to acquire a new place of worship or renovate an existing one, aiming to support and uplift Shia Muslim communities. Improved centres attracted new members and encouraged broader participation, enrichin8 the communitls cultural and religious life. Ultimately, investing in these spaces ontributed to a more vibrant, cohesive. and thriving Shia Muslim community. These updated facilities also offered modern amenities that support diverse activities. United Kingdom London Watford Norwlch Lelcester Blrmlngham Overseas Thalland Tanzanla Centre Renovation Khoja Shia Ithna-Asheri Muslim Communities Birmingham... The Mainstay Foundation funded the redevelopment project at KSIMC Birmingham, enabling the construction of the Hussainiyah to provide additional space for attendee5 and worshippers. This grant has allowed for increased seating capacity and upgraded facilities, enhancing the overall standard to ensure a comfortable and welcoming environment. Wich these improvements, the Hu55ainiyah can now accomodate approximately 2.200 people. effectively meeting the needs of the significantly growing community. &trength'ening Faith 'Iiil.. I1￿A¥FOUND￿lIts￿ ANNUNLAEFQRT2>24 MAINSTAYFOUNDATION ANNU*1 REPORT23￿4 The Muslim Convention The Community Network GG Testimonials from Attendees The Mainstay Foundation's flagship event, The Muslim Convention was held in the city of Coventry. inviting Muslim communities from across the UK and Europe to honour the legacy of Lady Zainab lasl: The Epitome of Strength. This national Muslim event hosted 1.200 people. bringing the community together to connect and uplift their spiritual and educational well-being. Shia Muslim communities living in the west often struggle to connert with the core values oflslam. Community leaders work tirelessly to unite communities. light a spark and build the path for the generations to come. However, due to a lack of recourses, they face challenges in achieving many of their goals and ambitions. Testimonials from Attendees 'Opportunity to meet other Shia Muslims. Excellent organisation and planning. Realty enjoyed the theatre production - beautiful and emotive. Reciiaiion at the end was also nice.. "An excellent round table event with a variety of organisations with a variety of backgrounds. 1 ppreciated the neutrality of it The convention aimed to create a programme which benefited people of all ages and professions. It featured educational talks by leading speakers inspired by the holy lady. interactive workshops promoting self- development and family unity. and a stimulating and fun Kidzone expressing the importance of Islamic knowledge and physical health. The Mainstay Foundation sought to address this issue through the Community Network, a new project designed to Strengthen Shia Muslim communities across the UK through networking, dialogue and access to resources. Through this project. it provlded cenrres and organisa(ions a plarform to share common challenges and exchange ideas to enhance the spiritual and educational well-being of their communities. Abbas Hussain Ahmed Ali The event also held a bustling marketplace featuring 38 Muslim businesses and organisations. allowing individuals the opportunity for ne￿Orking. The convention concluded with a celebration to mark the birth of Lady Zainab lasl, inviting five world-renowned reciters in Arabic. English and Urdu. The first annual event was held in Birmingham, a central location for all UK organisations. and invited 42 representatives to engage in fruitful discussions. Topics included the challenges of Shia identity. youth engagement and strengthening the family unit. "I travelled all the way from Switzerland, and it was worth the trip. Enjoyed having the opportunity to meet and network with the event guests and members of the community. Thankyoul Sara Yaseen he best thing was the exchange of experience between the various organisatioris. Useful Information and constructive feedback." Zahra Muhsln Attendees Workshops 1,200 "All in all, a greai experience for a first timer. Grateful for the coach arran8ements. Many networking opportuniiies amongst airendees and great to see so many of the community attend from all over." Abdulla Musa Speakers Recltors 31, resentatlves tntres & or8an15atlons 8uslness & Organisations A£tSvltles In the Kidzone 38 11. AGENDA Workshops V4) Featured Service Providers Jts) I1￿A¥FO1tmOAIItsN ANNUAiAEFQRT2>24 MAINSTAYFOUNDATION REPORT2￿4 Summer Camps Religious Events Grant The Mainstay Foundation supports Summer Camp5 annually in the UK, US and Europe through providing local and international speakers to deliver religious and educational talks and workshops. Centres and organisations require sufficient funding to hold religious events throughout the year to bring communities together and increase their religious knowledge and understanding. Through the religious events grant funding. The Mainstay Foundation aimed to advance religion and strengthen faith among communities in the UK as well as India. Africa, Europe, and the USA. E¥PETrIL4JCE MUHARRAM The summer camps focus on three core components= IIUHARAAbl Engaging physical activitie5 Spiritual instruction Personal development workshops POAINSTlhY The project focused on providing grants to sponsor speakers who deliver sermons on Islamlc teachings, dispel misconceptions, promote religious education, and protect communities from radicalisation and extremism. Funding was also allocated towards the costs of hiring venues for these events. Last year one of the camps in the UK hosted over 160 families from across the UK and parts of Europe. Through its main objectives, the camp delivered a meaningful experience balancing spiritual growth while providing entertaining activities keeping families of all ages engaged and spiritually recharged. By supporting communitygatherings, The Mainstay Foundation fostered unity and strengthened faith among Shia Muslims, promoting peace and harmony across regions. Additionally, it addressed the vulnerability of economically disadvantaged individuals. safeguarding them from divisive ideologies and providing them with accurate religious knowledge. Authorising Books Young people today are grappling with questions that span across various professional domains. Clarifying the religious stances can help individuals apply their religious principles to their daily lives. Over the past year, we have diligently worked on authoring two books addressing this need. The firsL 'Discourses with Ayatollah Alirawani.. The Role of Islam in Our Lives., serves as a valuable resource for guidance. The forthcoming book'sermons with Ayatollah Shaykh Hadi Al-Radi' offers invaluable guidance on navigating the intricate pathways of Ilfe with steadfastness and integrity. Number ol Beneficiaries Irom the Religious Events Grant Month of Muharram Pro ramme IrA iob,000 Fatime ah Programme By engaging esteemed scholars to address these 155ues, the project seeks to offer comprehensive perspectives. fostering a more informed and nuanced discourse. Ultimately, the project enhance5 young people's understanding and involvement with their religious values, benefiting both themselves and their wider communities. DISCOURSES Month of Muharram Programme Month of Muharram Programme Y*TOLLAM ALIHAWAIII THE QF ISL*14 IM OV• ￿1￿£5 51,540 Birth of the Prophet Programme 20,500 USA Month of Ramadhan Programme 5,300 Imam Hussaln Convention 21,200 2,000 Discourses With Ayatollah Alirawani: The Role of Islam in Our Lives Eid Al Ghadeer Programme Month of Muharram Programme Sermons TNith Ayatollah Shaykh Hadi Al- Radi 4,700 77,000 Eunip Arbaeen Aid Pro Month of Ramadhan Programme 59,500 I1￿A¥FOUND￿lIts￿ ANNUNLAEFQRT2>24 MAINSTAYFOUNDATION ANNU*1 REPORT23￿4 National Scholar Visits Quran Distribution The lack of access to learned scholars from Najaf within the UK presents a significant challenge in understanding the Shia Muslim identity and religious knowledge. The Mainstay Foundation facilitated the visit of two high- ranking scholars, Sayyid Jaffar al Hakeem and Dr. Sayyid Mohammad Ali Bahr al-ulum, from the city of Najaf to various centres during the months of Ramadhan and Muharram. The projert recognised a critical need for Quranic resources in various regions of East Africa. where economic hardships often hinder religious education. By providing copies of the Holy Quran to Madrasas in villages, the project aimed at easing the financial burden on families and encourage adult participation in religious studies, particularly Quranic recitation. Month of Muharram Number ol Copies Distributed copies Cities Programmes Quranic Chapters 10.000 Qurans 5.120 They travelled across the UK, visiting communities in Bradford. Peterborough, Edinburgh, and London, among others. They engaged with diverse communities, initiating discussions on pertinent topics such as the tenet5 of our faith. noble values, and the logical rationale that serves as key components in safeguarding against misinformation. They also encouraged dialogue with attendees to fosrer open communication with the visiting scholars. Overall Copies 15.120 This initiative has profoundly influenced the religious education landscape, aligning with The Mainstay Foundation's mi55i0n of strengthening faith and uplifting communities through enhanced access to religious education. Month of Ramadhan Cities Programmes rfp4 Hawza Project In Tanzania, students looking to pursue a path in religious education face limited options for studying Islam. Through the Hawza project, an educational program at Islamic seminaries provided a comprehensive curriculum in faith- related di5cipline5 that teach theology, law, ethics. and history. aimed at fostering a deep understanding of Islamic principles. Total No. of Beneficiaries: This project paved the path for students to study their faith and subsequently return to their communities a5 teachers and guides. This role helped guide communities towards peaceful coexistence and social harmony. Additionally. the project supported students by providing necessities such as food. clothing and accommodation. 328 Location of Hawza Number of Students Kigoma Temeke 100 It also enhanced the well-being and effectiveness of staff by funding salaries and improving infrastructure, thereby enhancing the quality of education and morale among both educators and administrative personnel. 101 Tanga 127 NSTAYFOUNPATIOPJANNUALREPORT2Y24 Meet Seher Fatima Syed & Shifa Fatima Syed... Seher Fatima Syed and Shifa Fatima Syed are sisters living in the slums of Mumbra, Mumbai. At a young age their father abandoned them, leaving a mother with 5 children to fend for herself and fall into poverty. Livin8 on a low-income salary, their mother sought help to give her children the education they deserved to thrive and become successful in their lives. As a family. they collectively believe that maintaining good education will secure their future. make them respectful individuals and grant them financial stability. 'We should give equal importance to both things - famity as well as seeking knowledge.- (Shifa Fatima Syedl By enrolling into the Mainstay Foundation's education sponsorship programme, both of their prospect5 and opportunities have increased. This will not only aid their individual growth but will allow them to support their mother in elevating the burden of poverty from her shoulders. -If we experienced any financial problems, with the power of education. we Could raise our families. This would make our mother very proud" (Shifa Fatima Syed). stering Education b, I1￿A¥FOuND￿m0N ANNUAiAEFQRT2>24 MAINSTAYFOUNDATION REPORT2￿4 Education Sponosrship Due to severe poverty, families cannot afford their children's school fees, forcing them to take their children out of education and into employment. At The Mainstay Foundation we understand the powerful impact of education and have therefore supported 4,012 students across India, East Africa, UK and Iraq. We covered education fees from nursery (o university levels, including school supplies, uniforms. transportation and more. Additionally, students have also been supported through vocational training initiatives, entry exam tuition and upgrading classrooms with smart board facilities. fostering the holistic development of communities. No. of Students Supported EAST AFRICA 344 School Scholarship University Scholarship Programme PrDwded full 5pon5or5hip frotn nutsery level until Ihe iompleuon o151udents' education in Indio, EasiAlnca. aTrl Irw. Dependin8 on the re8lon. students retewed full 5choDI Un￿lOrI￿5. lextbo¢th5 arvj other 5raiionery Ilern5. Coverln8 these essent￿1 cosis ollevhitesa great financial burden on low.Income famil*% allc4Yin8chikJren to focus on ethjtétion. INDIA 3,260 The Mainstay Foundaiunollered fir￿ncial os%starKe to 136 SEudeMS ifb E4xAfru Indw ￿￿*shed io rsUethd*￿r•JuaIedtgfees kKalty lrternarKr￿lty(in NorthAmerKa and Europe). DeseMrqstsjdents*￿le gran￿ofUll schc4Jrshipsco%YM8thre¢ ro lOury￿r501￿n￿usrtyethJu￿r excelliry kn fiehts9Jfh as Scle￿. Med*inE, •£t￿r￿. ahd Law. IRAQ 240 SMART Room Facilities Enlry Exam Tuition vpBr*lireconwter W)or•ror*5 nd Iransforrnlrl (￿S5r0(￿n$ In InLla nd Iraq Into $M￿T5paces irtetacifve*hitebo¥d% ** enat4e rr￿er￿ teachy￿ practice5 IKllitated ortlne classes con(Ixted subjertexperts. Esiabltshln838W*RT I￿1111£5 allLpwed for theadow￿ ol bEsr pra(Eiie5. the creauon of a￿te le4rniThgerMror*￿LWh￿nCed lewnin8ewences.aThJ ltsequiwir8 olstudenisb*rthVa￿oble $k￿5n￿￿ed lor futyJre em￿OyMent CWMunthes. In collatK)rJiion Vaih our partners In Hyderabad. India. The Mainsiay Foundation prowded privaie iulrh)nto dEservin8Students preparin8 for Cornpeliti￿ unNersity eniry exams such a5 the NEEfimedicall& JEE lengineerin8lexams. This addllK)Ml academic asslsianct sw)Incanity incrta5td their chanred eTnpbyTnentsector5. includins N￿￿n& AccounEanry. CIiTNcal Medicine, and Electrical Engineering. 970/0 PRIMARY EDUCATION SECONDARY EDUCATION Pass Rates 87% 82% INTERMEDIATE EDUCATION VOCATIONAL TRAINING 22 I1￿A¥FO1tmOAIItsN ANNUAiAEFQRT2>24 MAINSTAYFOUNDATION REPORT2￿4 Education Support Provided Students Sponsored Higher Education Statistics Primary to Secondary Education 3.720 ude in Tanzania ents Higher Education 136 in India Vocational Training 147 supported in the fields ot. supported in the fields of: Entry Exam Tuition Programme Health in Monitoring and Evaluation Bachelor in Pharmacy Bachelor in Doctor of Medicine Bachelor in Surgery Educats'on and Arts Law Accountancy Shipping and Logistics Marketing and Public Relations Economic and Finance Agronomy Education and Arts Human Resource Management BSC {Medical Laboratory Technology) - l Yr B.Sc. Life Science - l Yr BBA. (Bachelor of Laws- LLBI- l Yr 8.St. Optometry-11 Yr. General Nursing Midwifery IGNMI- l Yr Bachelor of Physiotherapy IBPTI- l Yr MBA- (Master of Busine55 Admini5trationl- l Yr m.sc -Nutrition - l Yr CA- Chartered Accountant- Inter Coaching Fees Smart Board Facilities 38 Vocational Training statistics Number of Sludents Supported in Tanzania: Mumbei of Students Supported in Kenya: 131 16 supported in the fields of: sponsorship for universities in North America and Europe Types of courses students enrolled in: Msc. Social Data Science at the University of Oxford (Oxford, England) Nursing Accountancy Pharmaceutical Officer Welding Plumbing Engineering Electrician BA. Nursing at the Western Sydney University (Sydney, Australia) Bsc. Radiotherapy & Oncology at the University of Hertfordshire (Hatfield, England) LLB (Honsl at the Nottingham Trent University INottingham, England) Clinical Medicine Law Msc. Communications En8ineering at Politecnlco di Torino (Turin, Italy} Marketing and Public Relations Information and Computer Technology MPhil/Ph.O. Theology and Religious Studies Research at Kin8S College University (London. England) 23 I￿A¥F01t￿O￿TItsN ANNUAiAEFQRT2>24 MAINSTAYFOUNDATION REPORT2￿4 Scholarship Programme Meet Syed Mohammed Ali... Royal Holloway, University of London is a renowned UK-based higher education institution dedicated to advancing education and scholarship through its degree programs. postgraduate studies. and research initiatives. The Mainstay Foundation aimed to collaborate with Royal Holloway to foster dialogue among Eastern and Western scholars, promote knowledge exchange, reduce misunderstandings, and enhance the understanding of Islamic and Middle Eastern societies. Faiyaz Mohamad Ali, a 12th-grade student, aspires to pursue a Bachelor of Commerce in Science. His goal is to establish a business in import-export seryices. focusing on bringing a variety of goods from China. This ambition is driven by his desire to support his hardworking father. who struggles to provide for the family on a low-income salary. To make ends meet, Faiyaz's father often works both day and night shifts. fr As part of this collaboration. The Mainstay Foundation has funded 3 full PhD scholarships at the Centre for Islamic and West Asian Studies ICIWA51 beginning in October 2024 and plans to fund an additional 3 scholarships to support this mission. Despite his fatherfs relentless efforts, affording his children's education would have been impossible without student sponsorship. Determined not to let his fatherfs sacrifices 80 in vain, Faryaz dedicated himself to his studies, often utilising the school library to avoid distractions and achieve high grades. Thanks to The Mainstay Foundation's funding. Faiyaz successfully enrolled in the university of his choice. bringing him closer to realising his dreams and supporting his family. IL Iw 11 11 Number ol students funded in 2024: 11 ,.11 11 11 11 li 11 We should try to make all the children of our communlt5es excel Insha'Allah. After becoming a successful businessman. the first thing I will do is buy a good house for my parents. 25 21 NSTAYF0UWJAnONANN￿ REFtyT 2Y24 I was walking 10 k51ometres and above In search of water. The situation The Ifurukutya Village... worsens during the rainy season. Sometlmes, we are beaten by our husbands when coming back home late whlle searching for water. Ifurukutya village, situated in the Katome ward of Bukombe district in the Geita region, is home to 622 families. comprising of approximately 1.807 residents. In the past, villagers shared a water source with the entire Bukombe district. severely limiting their access to clean water. Both communities heavily rely on agriculture for their livelihood& Prior to the construction of a water borehole through the Lady Fatima Water initiative project, women and children often walked up to 10 kilometres in search of water for domestic use, sanitation, and crop irrigation. This arduous task not only consumed significant time but also exposed women to the risk of physical abuse from their husbands due to prolonged absences. Zulfa The introduction of the water borehole has significantly improved the villagers, quality of life. It has reduced the risk of financial difficulties, domestic abuse, and waterborne illnesses. The borehole also provided immense benefits to local schools, medical facilities, and Islamic centres. The people of Ifurukutya are grateful for thls project, and they promlsed to take care of the project. They also pray that God, rewards amply the donors of these projects. Bahatl Developing Communities 2£ MAINSTAVFOUNOATrON AYNutsLf*poftT2Y24 Lad Fatima(asl er Initiative Due to severe water crises in Kenya and Tanzarbia and infrastructure challenges in India, millions of people lack access to clean drinking water. This scarcity severely impacts the communitys health. livelihood, and living conditions. The Mainstay Foundation collaborated with local partners to identify critical needs and install suitable water sources, such as hand pumps. boreholes, and piped water connections. Water Sources No. of Beneflclarles Sanitation Facilities Boreholes Over 3,660 men woman, children and disabled individuals, rely on centres for religious and educational services on a regular basis. With over 40 Shia centres in Kenya requiring repairs and renovations due to intreased attendance and health concerns, this project focused on improving bathroom facilitie5 and providing washing facility for the deceased. Shallow wells 20 AFRICA Handpumps 27 396 71,369. To comtsai rhe PTo*onged droughts and ￿Surr￿n1 water scarcity In Kenya and Tan2ania. we undertook the drillln8 of boreholes and Installaiion of haThJ pumps. Early-￿age hy(Irolo8Kal surveys were mericulousty conducied 10 deiermlne Ihe optlmal locations for these water sources. Asa result. these boreholes ha¥e prO￿ded clean dnnkin8water ro over 180,000 impoverished individuals. ￿8nIfICanlty Impmwn8theirqualry oflrfe. Plpellnes Submerslble 27 beneficiaries water Pumps Sanltatlon Facilities 2,400 12,000. Mbo8•. Msata. S*rnb•w•n8a. Ushjrombo. Ifu￿kUty￿. Omk*4ndo. K•rut*i Bathroom Facilities Bathrooms households beneficiaries Before construction of the bathrooms, the centres in Samburu. Miamba, Ookata. and Mtambile, were only able to provide a few pit latrines since water supply was often non-existent or unreliable. Community members would often bring their own water for ablution or other uses. Equipped with flushes. sinks. taps, and supported by an adequate water supply, these facilities represented a substantial upgrade from the pit latrines previously available. Hygiene has been improved, promoting a safer and more dignified environment. INDIA In India. the primary sources of incorre for resldents In rural and semi-urban areas are a8rkulture and rnanual labour. The lack of water led to crop failure% S￿erety affecting their financial stability. Toaddress this issue. wt established hand pumps in remote Ilages Lackingelectricity and submersibk hand pumps in areas with ekciricity. This allowed small- scale farmers io collectwater. irrigare their farms. and growve8erabSes for personal consurnprio promoting healih. hygiene. and socio*conornic eveloprnent. In some region5. local govemments pro¥KJed a main water source Eovillages. bur w￿leT was only available for one hovra day. We assisted 500 familtes by£onne(lingthis main source to their homes. I￿s￿lI1ng tank5 and pump5 to ensure acces5 to clean drlnking water throughout the day. Deceased washing facllltles The Lady Fatima Water Aid project has provided substantial support to families in these regions. Women now use the water source to engage in basic farming programs. generating financial support for their families and enabling them to send their children to school. The project continues to improve the quality of life, enhance livelihoods, and reduce mortality rates caused by the consumption of contaminated water. Washing Facilities Previously. community members were forced to wash the deceased in their own homes or in open fields due to inadequate ablution facilities. In many villages across Kenya this p05ed significant health risks. The construction of dedicated facilities designed for INashing the deceased has allowed for proper washing and shroudin& reducing the risk of disease and ensuring that the body is washed in a dignified and respectful manner. Total No. ol Beneficiaries: By addressing these critical water issues, The Mainstay Foundation is fostering healthier, more sustainable communities in Kenya, Tanzania, and India. Lucknow. Mumbai. Varanasi. Jaunpuv (UP). and other parts of Uttar Pradesh and alhav 6,100, I1￿A¥FouND￿lItsN ANNUAiAEFQRT2>24 MAINSTAYFOUNDATION REPORT2￿4 . Food Aid Lunch Programme Month of Ramadhan Food Baskets Distribution No. of Food No. of Basket Benef5c5arles The Mainstay Foundation collaborated with local centres providing supplementary Islamic education to young children by offering them basic meals. Many children struggled to concentrate in class due to severe hunger, while others missed out on education altogether because of the distance and the energy required to make the journey. The foundation provided two nutri(ious meals per day to students in 15 Bilal centres, benefiting a total of 3,426 students. Impoverished families in India and East Africa are facing challenges with famine and malnutrition. During the holy month of Ramadhan, due to low-income salaries, the breadwinners of the family struggle to provide nutritious meals to break their fast. In response to this issue, The Mainstay Foundation distributed 29,505 food baskets during the Month of Ramadan. These food parcels contained essential nutritious food items such as wheat, barely, rice, cooking oil. salt, dates and more. Each basket was designed to feed a family of four for nearly a whole month with nutritious meals. Indla 12.390 49.560 Afrlca 17.115 68.460 Sada a Qurbani Meat I distribution parce This initiarive encouraged attendance and improved nutrition, fostering a greater appreciation for learning and enhancing children's literacy. Consistent access to healthy food at school promoted equality among students and alleviated hunger as a barrier to learning. A5 a result. concentration and energy levels were boosted, academic performance improved. and absenteeism was reduced. Number of Goats In addition, meat parcels were distributed through the Sadaqa Qurbani project during Eid al-Adha and other Special occasions. Many of these families had gone without meat for an entire year due to financial constraints. This initiative not only provided access co nutriCiou5 meat for impoverished households and orphanages but also empowered families, reduced stress. and fostered mental well- being. Sadaqa Qurbanl Eld u1- 303 Adha Qurbanl 150 Total No. of Baskets: Total No. of Beneficiaries: 29,505 Lunch Programme Yol 3,426 Their Voice... l am ever so thankful for showing us so much consideration. Every year. you think of us, from the small children to the elders like myself. There are also some Elderly people who are homebound and receive this food aid. I don't know how I can thankyou and I prayfor you to receive a great reward from God. for only he can reward you for your endeavour5. Masudi Nyae Munazi Here in Miamba. we are such a tinyvillage. Yet alhamdulillah. you come here and look into ourwelfare. Children are taken care of and women are also uplifted. This Ramadhan you have once again brought us food and only Allah (swtl can grant you the reward for thaL Zaame Kabware Kotl Their Voice... Types of Diseases: Services provided to mothers and Inlant: Medical [] Aid Prenatal and postnatal care under supervision of speclallsts Hepatomegaly Mother and Child Project Brain Haemorrhage Perlodlc medlcal checkups Pathologlcal tests Cataract In India, unhealthy living conditions and limited access to affordable medical care place a significant financial strain on families. exacerbating their health issues. The Medical Aid Project aimed to address these challenges by targeting individua15 below the poverty line and alleviating healthcare burdens. The project proposed subsidised clinics for general ailments and financial aid for critical medical cases. ensuring affordable and accessible treatment to 195.663 beneficiaries. Nearly two-thirds of all maternal death5 in India are linked (o severe bleeding, high blood pressure. post-childbirth infections and birth complications. Ststes like Uttar Pradesh, Telangana, and Gujarat experience high infant mortality rates due to preventable causes such as malnutrition and poor sanitation. Paralysls Vacclnatlon Cancer Nutritlonal food baskets on bi-monthly basis Heart Disease By prowding medications, financial assistance for treatments. and support for life-threatening conditions. the project promoted the overall well-being and productivity of individuals. Beneficiaries, verified by the team. were primarily from low- income households urgently needing medical attention for conditions such as life. changing surgeries. cancer treatment, and dialysis. The Mainstay Foundation's'mother and Child Programme. supported expectant mothers throughout their pregnancy un(il the child reaches the age of t￿0. The programme offered a range of support seNices covering prenatal and postnatal care for both the mother and infanL Dlabetes Kldney Fallure In the past year. The Mainstay Foundation also supported over 112 patients struggling with vision impairments, giving them the opportunity to regain independence through cataract eye surgeries. Our efforts strive to prevent families from falling into poverty due to healthcare expenses, ensuring a healthier and more stable future for those in need. Water Purlfler N•. of B•n•fid•rl Types of O Treatments: DICAL SUPPOItT PIVOTAL SVR6ÉtIiÉs 195.367 102 232 MOTHERS SUPPORTED Counselllng Se5slons Importance of breastfeedlng Coronary Anglography Hlstoathology Health and hygiene DIAGIIOSTI 7ÉS75 IYE 5URfjtRIÉS Chemotherapy 82 112 Chlldcare Kidney Transplant Psychologicall splrltual health Prescription Medication Surgery Operation Radiation Therapy Dialysis I￿A¥F01t￿O￿TItsN ANNUAiAEFQRT2>24 MAINSTAYFOUNDATION REPORT2￿4 This is Hamzeh Ali... This is Azmat Hussain. Hamzeh Ali, a 7-year-old, has been battling advanced stage kidney disease since birth. His condition, characterised by damaged kidneys. has led to severe complications including fluid buildup. chest pain. muscle weakness. anaemia, cognitive issue5. and urinary incontinence. Despite undergoing all available treatments, doctors recently informed his parents that Ham2eh's survival rates are quite low, and he urgently requires a kidney transplant to survive. Azmat Hussain. a 20-year-old suffering from aplastic anaemia, faced a life- threatening blood disorder that prevented his body from producing blood cells and platelets due to damaged stem cells in his bone marrow. This condition led to a weakened immune system. a lack of red blood cells, and various complications. A2mat was diagnosed when he exhibited symptoms of weakness. fever. and skin haemorrhages. •ED ox •Br fiD riA With the support provided through The Mainstay Foundation's Medical Aid Programme. Hamzeh's father was found to be a suitable donor. He is scheduled for a kidney transplant in June 2024, which promi5e5 to give Hamzeh a second chance at life. He was immediately admitted to the hospital. where a detailed examination confirmed his condition. Upon diagnosls. A2ma( was prescribed a year-long medication regimen to treat his illness. Thls news left his family devastated and OVe￿helmed with worry due to their financial constraints. Azmavs father, a hand embroiderer, earned a modest salary that was barely sufficient to provide two square meals a day for his family. This funding has not only covered the medical expenses for the transplant but also provided hope and relief to Hamzeh's famity during this challenging time. The Mainstay Foundation remains committed to supporting families like Hamzeh's. ensuring they have access to life-saving treatments and the opportunity to live healthier, more fulfilling lives. Thanks to the funding provided through the medical aid programme. Azmat was able to receive the necessary treatment. This support alleviated the financial burden on his famity and enabled Azmat to live a more fulfilling life. The asslstance not only addressed his medical needs but also brought hope and stsbility to a family in distress. 35 I1￿A¥FouND￿lItsN ANNUAiAEFQRT2>24 MAINSTAYFOUNDATION REPORT2￿4 (J Orphan Aid Orphanages in Tanzania face significant challenges in supporting orphaned children due to limited resources. Recognising this need. The Mainstay Foundation embarked on a sponsorship programme to support 60 orphaned thildren ensuring their education. healthcare, and overall well-being are taken care of. This initiative addressed the critical need for comprehensive support in a low.middle.income country where poverty restricts access to essential services. By funding this project, children are provided with a nurturing environment to grow and evolve. It also alleviates financial strain on the orphanage. ensuring its continued operation and supporr for more vulnerable children. Eid Gift Initiative East Africa 2.266 Indla 8.082 Total No. of Eid Gifts In addition to the sponsorship program, The Mainstay Foundation also launched an Eid gift InStiative, providing new clothes or essential items to restore joy and alleviate hardships for the orphans in East Africa and India. Each orphan was allocated a budget of £8 ensuring they could enjoy the festive occasion and experience the joy of receiving gifts whilst upholding the Islamic principle of Supporting those in need. 10,348 O¢0 60 Orphans Sponsoied h111115TAYFWIIDA NSTAYFOUtr1OAnOP4ANN￿RE￿ 2Y24 Our People 41. I1￿A¥FO1tmOAIItsN ANNUAiAEFQRT2>24 MAINSTAYFOUNDATION REPORT2￿4 Our Staff Our Volunteers Fundraising Achievements and Performance The Charity benefits from staff members who bring a diverse range of qualities. skills, and experiences that contribute to the overall success of the Charity. Additionally. the diversity in backgrounds, cultures. and perspectives fosters a rich environment for collaboration leading to the ability to establish and sustain effective partnerships with other charities and organisacions. Furthermore. the Charity promotes a culture of teamwork which is crucial for a positive and supportive work culture where individuals feel valued and motivated to contribute their best efforts. The Trustees and Executive Officer operate an open door to all staff so that an inclusive environment 15 created for all with all staff member5 encouraged to learn and succeed. The Mainstay Foundation is humbled to benefit from the valuable and dedicated conrributions of volunteers, who are essential in ensuring the effective implementation of a wide range of activities. While volunteers primarily assist the Charity in efforts related to the advancement of religion, their involvement extends to other areas as W￿11. The Charitys funding is predominantly received from generous private donors who supportthe Charitys projects. A small portion of the revenue is also derived from Gift Aid. which enables the recovery oftax on donations which qualify for such. Thanks to the generosity of our donors and diligence of our team members, the Charity has experienced remarkable growth, leading to significant progress in achieving its goals of promoting faith. education, and community development worldwide. Throughout the reporting period. the Board of Trustees is delighted to note the Charitls steadfast commitment to expanding operations, forging and fortifying partnerships. and broadenin8 grant-makin8 activities to benefit a diverse array of recipients acr055 various region5. As it has done within the previous year. the Charity continued its presence on social media platforms in order to undertake public fundraising campaigns for various initiatives including water aid, food and education. Volunteers do not receive salaries pursuant to the terms of the Charitys Managing Volunteers Policy and its Staff and Remuneration Policy. However, volunteers are reimbursed for their travel and food expenses. All fundraising is internalty managed by the Charitys own teams. with no external or commercial entities. including professional fundraiser5 or commercial participators being retained. The Charity is registered with The Fundraising Regulator, an independent regulator overseeing charitable fundraising in England. Wales. and Northem Ireland. The Charity has estsbli5hed policies and systems to ensure that there is no undue intrusion on an individual's privacy or unrea50nable pers1Stence in soliciting donations or orher property on behalf of (he Charity. Additionally, the Charity prohibits placing individuals under undue pressure to donate money or other assets. The Charity is pleased to report that no complaints were received regarding its fundraising activities or any other matter. NSTAYFOUNOAT10I4ANNi￿REFffftl 2Y24 Our Plans Slrategic Aims and Objectives In the year 202412025 The Mainstay Foundation will continue to work with its local partners to ensure it 15 serving communitie5 in the fields of Faith. Education and Community Development. xpanding our work by partnering with new entities in the regions we work in. Work with our partners to understand how projetts can be more impactful and longer lasting. Focusing on data as well as the overall impact of the beneficiaries to help us plan for a better future. Work alongside our partners co improve their capacityto deliver more impactful projects. To continue to leverage our vast network to connect •1 :. O.: l• communities to learn and grow together. TT To enhance our work within the UK as well as Europe and North America by continuing to collaborate with national and local grassroots organisations to inspire change. Continue to grow the brand of the charity to raise greater awareness about the work we are undertaking. NSTAYFOUNOAT10I4ANNi￿REFffftl 2Y24 During the reporting period the Charity reported strong numbers in terms of its aid work and donations raised. The total income of the Charity for the reporting period was £5.385.87312023 - £4.242,5361 and the total expenditure amounted to £5,573,67412023 - £3,426,041). This left a deficit of £187,80112023 - surplus £816,495). Including support costs, thich amounted to £378.04512023 . £283.0101 the Charitys expenditure wa5 £1,664,43312023 - £1,597,972> on the advancement ofcommunity Development, £1,917,66112023- £1.112.6781 on the advancement of Education and £1.991.58012023 . £715.391) on the advancement of Religion. On the restricted funds the charity had a deficit of £84.38512023- deficit £9.3521. The Trustees have decided to keep the restricted funding negative and carry forward the balance as these are projetts that are fundraised for throughout the year, and they are confident to set off the deficit with the future income on the same fund. The Charity acquires its principal source of funding through donations from donors which are used to achieve the Charitys objectives and cover its operational costs. The Charity does not engage in income- related services, nor in any investments whose purpose is to increase funding for the Charity. i￿anCIal Overview NSTAYFOUNOAT10I4ANNi￿REFffftl 2Y24 Reserves Policy In determining the reserves policy, the Board of Trustees has carefully considered the potential risks facing the Charity and contingency funds that may be needed as a result in addition to undertaking consultations and a detailed risks assessment. In light of this. the Charitys policy in respect of its reserves is to maintain sufficient unrestricted funds to cover up to 12 months of operating and administration costs ranging between £540.000 - £600.CQO in addition to maintaining a percentage equating to circa 30% of the primary and secondary education costs with all its partners on the ground amounting between £250.000- £300.000 to safeguard the current projects should a sudden shortfall in income occur. Based on the aforementioned determination, the Board of Trustees has concluded that the reserves Sum should be in the range of £840.￿O- £900.000. The actual unrestritted reserve funds were £1.186,58312023 - £1,383,736). The Trustees believe that there remains a risk of reliance on a limited number of donors and the higher reserve amount is required to mitigate this risk until the Charity makes a stronger presence on social media and within the community to raise more donations from public funding rather than reliance upon limited donors. As such. the Charity considers its current reserve funds sufficiently conforms to its reserve policy. Ke Po FinwJAt icies klAINsfAYFouNDAnoNMIMW REPtyT?￿4 tr4sfAY FOiINDAmoN ANNAREFORT2>24 Risk Managemenl Remuneration Policy Ensuring effective risk management is essential for Trustees to make appropriate and timely decisions in alignment with the Charitys objectives. To accomplish this, the Charity employs a systematic rewew and update process for its policies. taking a proactive stance on risk management. When risks are identified. Trustees are prepared to take planned artions by.. Policy for the Remuneration of Key Management Personnel. The key management personnel of The Mainstay Foundation include its Trustees and the Executive Officer. The Trustees, including the Executwe Trustee. do not receive compensation for their services. In accordance with the Charity Commission's guidance on'PaymentS to Charity Trustees,, Trustees are eligible to seek reimbursement for reasonable out-of-pocket expenses. Additionally, the Board of Trustees may approve compensation for exceptional work performed for the Charity, provided no other staff members are available to perform the same duties. The Charity has not paid its Trus(ees for any of their work. Minimising the impact of risks through contingency planning. Accepting the risks. Transferring the risks through insurance (where applicable). Reducing the risks when complete avoidance is impractical or dlsproportionately expensive. Grant-making Policy Monitoring the risks. Grant making is instrumental in fulfilling the charitable objertive5 and goa15 of the Charity. The Board of Trustees oversees the Charitys grant allocation policy, estsblishing and supervising the principles. criteria. and process for distributing funds. The Board of Trustees has complete discretion in using the Charitys funds in line with its charitable purposes and objectives, and their decisions are final. There are two main categories of recipien￿ partner-based and single project-based grant recipients. Partner-based recipient5 are charitable institutions that receive funding typically through monthly. quarterly. or yearly grants to support one or more charitable objectives of the Charity. This funding can be utilised for implementing new projects. as well as maintaining, supportin& and expandlng existing initiatives undertaken by partner-based recipients. De¢islons regardlng partnerships are made by the Board of Trustees, aiming to align with the Charity5 best interests in achieving its charitable objectives in the Short and long term, following the Charitys grant-making policy. The Charity maintains a central risk assessment register that undergoes regular review and updates. This assessment categorises risks into various categories. such as operational, financial. governance and management, compliance, and environmentallexternal factors. Additionally. specialised risk assessments are conducted for specific risk areas. as evident in policies like the anti-money laundering and counter- terrorist financing policy. Within each category, risks are identified and assessed based on their likelihood and impact. Steps to mitigate each risk are outlined along with any further necessary action. Principal Risks Facing the Charity After careful consideration ar)d professional consultation, the Board of Trustees has identified several key risks the Charity may face, including.. Single project-based grant recipients are individuals or organisations who receive funding through advertised grant awards for specific projects outlined by the Charity. often related to the advancement of religion. Recipients apply for these grants through a defined application process. and fundin8 IS typically awarded as a one-time grant for implementing the specified projett. The application process for projett based grants follows strict guidelines and usually includes a set deadline. Banking activities related to the allocation and expenditure of funds. Partnerships and grant making to other charities and institutions in high-risk juri5diction5. Dependence on a limited number ofdonots. Enterlng Into new partnerships wlth other charlties. The Charitys grant provision process involves evaluations that both types of recipients must undergo. This includes condutting due diligence procedures, which may be enhanced if found to be necessary, as well as reviewing accounts, relevant documents, and conducting site Msits when needed. The Charity adopts a risk-based approach to its grant-making activities. considering factors such as grant size. geographical location (including high-risk jurisdictions), size, and location of the beneficiary, along with other pertinent facrors. These principal risks are regularty monitored and updated in accordance with the Charitys Risk Management Policy, which is adjusted based on the Board of Tru5tees' evaluations. The policy involves identifying and assessing risks, including evaluating their likelihood and impact. and implementing necessary mitigation accions for each major risk. As part of the grant provision process. partner-based recipients are required to submit quarterly reports. while single project-based recipients are expected to provide final progress reports. These reports primarily assess how the grants were utilised and the extent to which the goals and objectives were achieved. Final progress reports are required to be submitted within three months from the date the award was granted. 49 MA1tr4STA¥FOUNDATrI)N ANNUILREPOR72>24 tructLe". GovErnanc Management- L•lV[ klAINsfAYFouNDAnoNMIMW REPtyT2¥d4 tr4sfAY FOiINDAmoN ANNAREFORT2>24 structure, Governance and Management Trustee Selection Methods The Mainstay Foundation is a Charitable Incorporated Organisation ICIO). registered with the Charity Commission for England and Wales on 11 March 2016 with the registered Charity number 1166017. Trustees are appointed for three-year terms by resolution of the Board of Trustees. When selecting individuals for appointment as Trustees. the Charity acts in accordance wilh the guidance issued by the Charity Commission, which outlines the necessary ski115. knowledge, and experience for effective administration of the Charity. Specifically, the Board applies the following criteria during the recruitment process.. Governing Document The governing document of The Mainstay Foundation is the Charitable Incorporated Constitution. adopted on 11 March 2016. which contain5 the Charitys charitable objectives and establishes the rules and procedures for the operation of the Charity. Trustees should have experience in the not-for-profit sector. including Charity operations, and possess the skills required by staff in this area. Organisation Structure Trustees should be familiar with overseas relief work and understand how the Charity practically achieves its objectives. As a CIO, the Board of Trustees is responsible for oversight and strategic direttion, including the management and control of the annual budget. the work plan and the establishment and review of policies and procedures. The Board has in turn appointed the Executive Officer to a5515t with the day-to-day management of the organisation who is responsible to and reports directly to the Board during regular meetings and reMews. Trustee$ Should have appropriate and adequate administrative and related experience to contribute to the overall effective administration of the Charity at a strategic level. Trustees should. where possible. have professional or commercial experience to aid in the effective administration of the Charity. The Executive Officerfs responsibilities include managing the Charitys staff. overseeing operational activities. managing all aspects of the grant making procedure, meeting with partners and beneficiaries. The Board of Trustees, responsibilities include: While these criteria are important, the Board of Trustees does not require each trustee to possess professional qualifications in all areas. a5 relevant experience is also considered. Additionally. the Board obtains professional advice as and when needed to ensure its duties are carried out effectively. Ensuring that the Charity has a clear vision. mission and strategic direction. and is focused on achieving these goals (Strategic Responsibility). Controlling delegated avthority to staff Icontrol Responsibility). Being accountable for the performance of the Charity (Performance Responsibility). Ensuring that the Charity complies with all legal and regulatory requirements (Compliance Responsibility). Acting as guardians of the Charitys assets. both tsngible and intangible. taking due care over their security, deployment. and proper application IResponsibility to Safeguard the Assets}. Ensuring that the Charitys governance is of the highest possible standard IGovernance Responsibility). klAth4sfAyFoutr4DAn¢￿￿Am￿ REptyT2￿￿ tr4sfAY FOiINDAmoN ANNAREFORT2>24 Trustee Induction Statement of Trustees, Responsibilities As part of the recruitment process, the Charity recognises the importance of providin8 an induction for incoming Trustees. To familiarise themselves with the Charity and their role within it. incoming Trustees will receive the following documentation in line with the recommendations of the Charity Commission= An up-to-date copy of the Constitution The Trustees are responsible for preparing the Trustees. Report and the finanaal statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Prarticel. The law applicable (o charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources. including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: Copies of the minutes from the last three Trustee meetings A copy of the most recent accounts of the Charity The business plan, including fundraising projections and strategy, for the current year Select suitsble accounting policies and then apply them consistently,. Observe the methods and principles of the Charities SORP IFRS 1021,. Copies of all policies Make judgements and accounting estimates that are reasonable and prudent,. A copy of the Charity Commission publication Yhe Essential Trustee: what you need to know. what you need to do" State whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material departures disclosed and explained in the financial statements: Thls Inltlal information allows new Trustees to understand the overall administration and governance structure, aiding them in taking an active role in the Charity. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in bu5ine55. Additionally. new Trustees will be invited to attend a Board meeting before accepting their role and encouraged to meet their fellow Trustees and staff to enable them to familiarise themselves with the environment in which they will be operating. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charitys transactions and disclose with reasonable aCCLJracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. rhe Charity (Accounrs and Reportsl Regulations 2008 and the provisions of the Trust deed. On-going Training of Tiustees The Trustee5 recogni5e the importance of keeping themselves up to date with the relevant Charity Commission guidance and legislation pertinent to the Charitys activities. As well as receiving updates from the Charity Commission, the Charity organises internal training sessions for the Trustees and, where necessary, professional training. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the Board of Trustees and signed on its behalf by: Public Benefit This report provides details of the charitable objectives and actwities undertaken by the Charity for the public benefit. The 803rd of Trustees ensures that these activities meet the needs of the beneficiaries and contribute to the overall improvement of the public communities in the United Kingdom and other regions where The Mainstay Foundation operates. Mr M Mara5hi Chair Date- 30.10.24 Additionally. the Trustees affirm that they have considered and adhered to the guidance provided by the Charity Commission on public benefit. IWDEPEWDENW AvD[r¢j￿REPIXfTOtHt MEMBEH50FThE WNsfhYFCWtM•QN DEPEPWEFIT AUDITOR¥ ntPOlTTOTHE MEMBER50FIHE NNJN5fAY FOUNDA￿0￿ Independent Auditors, Report to the Members ol The Mainstay Foundation CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements. we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on rhe work we have performed. we have not identified any material uncertainties relating to events or conditions that. individualty or collectively. may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees wilh respect to going concern are described in rhe relevanf secrions of this report. OPINION We have audited the financial statements of The Mainstay Foundation (the 'Charity'l for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes. including significant accounting policies. The financial reporting framework that has been applied in their preparation 15 applicable law and United Kingdom Accounting Standards. including Financial Reporting Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepied Accounting Practice). OTHER INFORMATION The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparin8 their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporring by Charifies.. Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Pracrice effective for reporting periods beginnlng on or after l January2015. The Trusrees are responsible for the other informarion. The ocher information comprises the information included in the Annual Report, other than the financial statements and our Auditors, Report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is ro read the orher information and. in doing so. consider whether the orher information is materialty inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements we are required to determine whether there is a material misstatement in the financial statements or a material rnisstatement of the other informarion. If. based on rhe work we have performed. we conclude that there is a material misstatement of this other information, we are required to reF)Ort that fact. In our opinion the financial statements.. Give a true and fair view of the state of the Charitys affairs a5 at 31 March 2024 and of its incoming resources and application of resources for the year then ended; Have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practice; and We have nothing to report in this regard. Matters on whlch we are requlred to report by exceptlon Have been prepared in accordance with the requirements of the Charities Act2011. We I￿ve nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion: BASIS FOR OPINION We conducted our audit In accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audirors. responsibilities for the audtr of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom. including the Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audir evidence we have obrained is sufficient and appropriaie to provide a bas15 for our opinion. The information 8Nen in the Trustees, Report is inconsistent in any material respect with the financial statements-, or Sufficient accounting records have not been kepL or The financial sraiements are nor in agreement with rhe accounting records and returns; or We have not received all the information and explanations we require for our audiL IWDEPEWDENT A￿D￿￿REpoRTTOT￿E MEMBER50FIHE IWNsfAYFOLW￿￿0N IIIDEpENDENTWDlT￿ REPORTTOTHE MEMBERS ¢)FTrE m￿￿TAyF0LwOATrON RESPONSIBILITIES OF TRUSTEES Performing auditwork overthe risk of management override of controls. including testing of journal entries and other adjustments for appropriateness: s explained more fully in the Statement of Trustees, Responsibilities. the Trustees (who are also the Direttors of the Charity for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they gwe a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misststement. wherher due to fraud or error. Evaluating the business rationale of significant transactions outside the normal course of business.. Reviewing accountin8 estimates for bias; Reviewing the due diligence processes in place on major donors and enquiry of legal adviser5 for the confirmation of donations received in the year: In preparing the financial statements, the Trustees are responsible for assessin8 the Charity's ability to continue as a going concern. disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so. Performing audit work over rhegrant making and monitoring process; Reviewing minutes of meetings of those charged with governance,. Reviewing financial ststement disclosures and testing to SUPPOrting documentation to assess complkance with applicable laws and regulations. AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Because of fhe inherenr limirarions of an audit. there is a risk rhat we will not detect all irregularities. including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and rransactions reflected in the financial statements. as we will be less likely to become aware of instances of non.compliance. The risk is also greater regarding irregulariries occurring due to fraud rather than error, as fraud involves intentional concealmenL forgery. collusion. omission or misrepresentation. A further description of our responsibilities for the audit of the financial starements is located on the Financial Reporring Council's websire at: www.frc.org.ukJauditor5responsibilities. This description forms part of our Auditors, Report. We have been appointed as auditor under section 144 of the Charities Act 2011 and reporr in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance atK)Ut whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an Auditors. Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit condurted in accordance with ISAS IUKI will a￿ayS detect a material misstatement when it exisis. Missratements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. USE OF THIS REPORT Irregularities, including fraud. are instances of non