Star Island Corporation

Analysis

Star Island Corporation is a registered charity in United States, based in Portsmouth, NH. It received its IRS tax-exemption ruling in February 1947, 79 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Star Island Corporation reported income of $4.4m and spending of $4.3m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.1m to $4.4m (+8.3%), an average of +2.0% a year. The sharpest change came in the year to December 2021, when income rose by 83%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Star Island Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within NH. Charities of a similar size with the same main cause include Metro Detroit Electrical Industry Training Center Inc ($4.4m), Groundwork Lawrence Inc ($4.4m) and Cornerstone Alliance ($4.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $206k (4.8% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $13.8m against liabilities of $2.2m, net assets of $11.6m. It reported 182 employees.