Starfish Accelerator Foundation

Analysis

Starfish Accelerator Foundation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in October 2021, 5 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, Starfish Accelerator Foundation reported income of $50k and spending of $113k, spending 226% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $676k to $50k (-93%), an average of -73% a year. The sharpest change came in the year to December 2023, when income dropped by 79%. Over the whole period it spent 29% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Starfish Accelerator Foundation sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 19th percentile, and in the 22nd percentile within NY. Charities of a similar size with the same main cause include Rada Collaborative Inc ($50k), Shine Foundation Inc ($50k) and Api Arts and Outreach Inc ($50k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $25k (22% of expenses). At year end it held assets of $700k against liabilities of $0, net assets of $700k.