True Star Foundation Inc

Analysis

True Star Foundation Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 2015, 11 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, True Star Foundation Inc reported income of $1.5m and spending of $1.3m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $666k to $1.5m (+132%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 107%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, True Star Foundation Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within IL. Charities of a similar size with the same main cause include Maine Museum of Innovation Learning and Labor ($1.5m), Osteoarthritis Research Society International Inc ($1.5m) and NCW Tech Alliance ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $171k (13% of expenses). Other salaries and wages came to $59k. It paid $21k in professional fundraising fees. At year end it held assets of $964k against liabilities of $502k, net assets of $462k. It reported 6 employees.