Honest Foundation
- Assets
- $89.8k
- Revenue
- $110.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Bloomfield Hills, MI
- Founding
- 11/2006
- Data as of
- 12/2021
- EIN
- 20-4172376
Organization Overview
Honest Foundation is located in Bloomfield Hills, MI. The organization was established in 2006. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Honest Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Honest Foundation generated $110.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $87.7k during the year ending 12/2021. While expenses have increased by 5.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Honest Foundation has awarded 93 individual grants totaling $374,003. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heba Al-Saghir Secretary | 0 | $0 | |
Fahd Al-Saghir President | 0 | $0 | |
Suha Sharbek Vic-Presi | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $110,496 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $110,496 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $140 |
| Total operating and administrative expenses | $1,540 |
| Contributions, gifts, grants paid | $86,139 |
| Total expenses and disbursements | $87,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $89,766 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $89,766 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,258 |
| Total liabilities | $2,258 |
Grants Awarded
Over the last fiscal year, Honest Foundation has awarded $86,139 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: CHARITY | $14,500 |
THE MUSLIM UNITY CENTER PURPOSE: CHARITY | $12,000 |
WOMEN FOR HUMANITY PURPOSE: CHARITY | $10,350 |
IAGD PURPOSE: CHARITY | $10,000 |
RAHMA PURPOSE: CHARITY | $6,000 |
QURAN INSTITUTE PURPOSE: CHARITY | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Filene Research Institute Inc Madison, WI | $14,627,615 | $8,184,489 |
544 C E S Credit Union Inc Mount Vernon, OH | $208,699,156 | $7,355,905 |
1087 Millstream Area Credit Union Inc Findlay, OH | $59,199,918 | $3,448,457 |
Credit Unions Chartered In The State Of Michigan Grandville, MI | $56,189,015 | $3,931,995 |
Christian Family Credit Union Inc Milford, OH | $92,848,088 | $2,695,170 |
1143 Southeastern Ohio Credit Union Inc Cambridge, OH | $39,970,017 | $1,948,889 |
1246 Genesis Employees Credit Union Zanesville, OH | $18,977,155 | $672,428 |
Gmiluth Chasodim Beachwood, OH | $3,298,994 | $879,917 |
614 Wes Credit Union Inc Willoughby, OH | $15,447,692 | $342,063 |
Indiana Mortgage Bankers Inc Lawrenceburg, IN | $139,506 | $269,818 |
Northwest Wisconsin Business Development Corporation Spooner, WI | $4,387,654 | $89,093 |
835 Deca Credit Union Inc Cincinnati, OH | $7,307,197 | $154,406 |