North Star Fund Inc

Analysis

North Star Fund Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1978, 48 years ago. 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, North Star Fund Inc reported income of $13.4m and spending of $10.1m, leaving 25% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income fell from $14.9m to $13.4m (-10%), an average of -3.5% a year. The sharpest change came in the year to June 2021, when income rose by 116%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, North Star Fund Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Boy Scouts of America ($13.4m), Veterans Community Project ($13.4m) and Alcott Center for Mental Health Services ($13.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $481k (4.8% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $29.4m against liabilities of $2.4m, net assets of $27.0m. It reported 32 employees.