Star-Tec Enterprises Inc

Analysis

Star-Tec Enterprises Inc is a registered charity in United States, based in Saint Petersburg, FL. It received its IRS tax-exemption ruling in August 2011, 15 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 (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-Tec Enterprises Inc reported income of $1.7m and spending of $562k, leaving 66% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $432k to $1.7m (+282%), an average of +40% a year. The sharpest change came in the year to June 2023, when income rose by 272%. Over the whole period it spent 65% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Star-Tec Enterprises Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include Burnt Mountain Center Inc ($1.7m), The Incentive Research Foundation ($1.7m) and Parkview Gardens Association ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $188k (33% of expenses). Other salaries and wages came to $224k. At year end it held assets of $1.4m against liabilities of $112k, net assets of $1.3m. It reported 4 employees.