Northstar Education Finance Inc

Analysis

Northstar Education Finance Inc is a registered charity in United States, based in Eden Prairie, MN. It received its IRS tax-exemption ruling in March 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. 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 September 2023, Northstar Education Finance Inc reported income of $72.6m and spending of $74.9m, spending 103% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $92.2m to $72.6m (-21%), an average of -5.8% a year. The sharpest change came in the year to September 2023, when income rose by 81%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Northstar Education Finance Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include LA Sierra University ($72.3m), Ave Maria University Inc ($72.6m) and Lycoming College ($72.2m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 95% of the total. Compensation of current officers, directors and key employees was $373k (0.5% of expenses). At year end it held assets of $1.02bn against liabilities of $859.0m, net assets of $158.9m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.