Star Foundation Inc

Analysis

Star Foundation Inc is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in October 1993, 33 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Star Foundation Inc reported income of $697k and spending of $110k, leaving 84% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.5m to $697k (-53%), an average of -17% a year. The sharpest change came in the year to June 2020, when income dropped by 76%. Over the whole period it spent 42% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Star Foundation Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 73rd percentile within CT. Charities of a similar size with the same main cause include First United Methodist & Calvary Baptist Churchs ($697k), Hospice and Home Care of Alexander County Inc ($697k) and Fremont County Group Home Inc ($697k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% of the total. It paid $406 in professional fundraising fees. At year end it held assets of $4.0m against liabilities of $91k, net assets of $3.9m.