Northstar Education Finance Inc
95% goes to programs Strong reserves Growing revenue
Northstar Education Finance Inc is a 501(c)(3) organization based in Eden Prairie, Minnesota, registered in 2003, with $68,106,847 in FY2023 revenue. CharityIndex grades it A+, and it directs about 95% of spending to programs.
9855 W 78th St 012, Eden Prairie, MN, 55344 EIN 41-1961427 Since 2003
Revenue (FY2023)
$68.1M
▼ 6.2% vs prior year
Education median: $200K
Expenses (FY2023)
$67.0M
Net assets
$159.5M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating95% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Northstar Education Finance Inc: 95% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating29 mo reserves · +2% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Northstar Education Finance Inc: 29 mo reserves · +2% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Northstar Education Finance Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Northstar Education Finance Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
To foster, aid, encourage and assist the pursuit of higher education.
What they do
Provide grants to other organizations to enhance post-secondary education opportunities for minnesota students by relieving some of their financial burden through scholarships and/or assistance with their post-secondary readiness preparation.
Contact & location
- Address
- 9855 W 78th St 012, Eden Prairie, MN, 55344
- City
- Eden Prairie
- State
- Minnesota
- Category
- Education
- Subcategory
- Student Services & Aid
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $99.7M (FY2013) to $68.1M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $666.2MNet assets $159.5M
Operating margin
1.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$825.6M
Total liabilities
$666.2M
Net assets
$159.5M
Salaries & benefits
$371K
1% of expenses
Board members
7
5 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $68,106,847▼6.2% | $66,966,127▼10.6% | $159,462,665▲0.3% | $825,640,988▼18.9% | 990 |
| 2022 | $72,587,293▲80.7% | $74,896,134▲62.7% | $158,930,068▼1.4% | $1,017,887,615▼21.3% | 990 |
| 2021 | $40,177,777▲6.9% | $46,030,875▲14.2% | $161,238,909▼3.5% | $1,293,468,719▼18.6% | 990 |
| 2020 | $37,569,277▼40.2% | $40,312,776▼34.6% | $167,092,007▼1.6% | $1,589,111,391▼13.3% | 990 |
| 2019 | $62,829,137▼31.9% | $61,619,712▼36.4% | $169,835,506▲0.7% | $1,832,708,530▼13.8% | 990 |
| 2018 | $92,237,647▲11.4% | $96,882,154▲8.6% | $168,626,081▼2.7% | $2,126,920,671▼13.7% | 990 |
| 2017 | $82,834,795▲1.0% | $89,169,131▲5.6% | $173,270,588▼3.5% | $2,465,068,153▼11.4% | 990 |
| 2016 | $82,046,446▲138% | $84,424,364▲8.5% | $179,604,924▼1.3% | $2,783,049,243▼11.2% | 990 |
| 2015 | $34,497,148▼55.3% | $77,782,326▲1.0% | $181,982,842▼19.2% | $3,133,566,756▼9.8% | 990 |
| 2014 | $77,152,274▼22.6% | $76,980,966▲3.0% | $225,268,020▲0.1% | $3,472,295,492▼9.7% | 990 |
| 2013 | $99,725,827 | $74,765,598▼22.7% | $225,096,712▲12.5% | $3,844,425,323▼8.1% | 990 |
| 2012 | — | $96,708,871▲0.8% | $200,136,483▲9.4% | $4,182,875,674▼7.7% | 990 |
| 2011 | — | $95,906,219▼11.9% | $182,889,856▲13.5% | $4,532,934,422▼11.4% | 990 |
| 2010 | — | $108,883,347▼6.1% | $161,154,064▲26.3% | $5,113,357,661▼15.4% | 990 |
| 2009 | — | $115,900,714 | $127,615,164 | $6,046,836,494 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Taige Thornton — $100,000 (0.15% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Taige Thornton | President | 15 | $100,000 |
| Charles Osborne | Chief Financial Officer & Treasurer | 15 | $89,482 |
| John Emerick | Chair | 1 | $37,500 |
| Clyde Nelson | Director | 1 | $27,500 |
| Mary Rothchild | Board Member | 1 | $27,500 |
| Richard Harris | Director | 1 | $27,500 |
| Elizabeth Anne Carrier Doran | Director (retired) 12/2023 | 1 | $18,500 |
| Richard Nigon | Director | 1 | $17,750 |
| David Reiling | Director | 1 | $16,250 |
| Greg Larson | Secretary | 1 | — |
| Sarah Duniway | Secretary | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Nelnet Inc | Management & Admin Services | $2,336,763 |
| Nelnet Servicing LLC | Student Loan Servicing | $664,805 |
| Windham Professionals Inc | Private Loan Collection Services | $290,333 |
| Rbc Capital Markets LLC | Broker/dealer Fees | $254,486 |
| Baker Tilly Us LLP | Audit, Tax & Professional Services | $114,725 |
Grants made · $4.3M in FY2023
4 grants totaling $4.3M in FY2023. All grants made by Northstar Education Finance Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Wallin Education Partners | To provide scholarships to students and support wallin's existing scholar support services that benefits all scholars. | $3,198,696 |
| College Possible | To provide after-school programming for high-school students to better prepare them for admission to college. additionally, provide coaches to college students using a structured curriculum focused on the academic, financial and cultural barriers that have been identified as barriers to college success for low-income students, with the goal of helping them succeed and graduate from college. | $680,000 |
| Page Education Foundation | To support the organization's scholarship program, which provides scholarships targeted at students from underserved communities, combining mentoring and community service with its scholarship program to support and encourage its students. | $220,600 |
| Cristo Rey Jesuit High School | To support the organization's college success program, which combines college counseling with post-graduation support, serving as a key resource for students to understand opportunities available to them after graduation from high school. | $200,000 |
Similar organizations in Education
Education
Blake School
Hopkins, MN
$62.2M
C+annual revenue
Education
Mitchell Hamline School of Law
Saint Paul, MN
$61.7M
Bannual revenue
Education
Breck School
Minneapolis, MN
$55.8M
Bannual revenue
Education
Dunwoody College of Technology
Minneapolis, MN
$55.4M
Aannual revenue
Education
Kids In Need Foundation
Little Canada, MN
$55.0M
A+annual revenue
Education
Ecmc Foundation
Minneapolis, MN
$82.6M
Aannual revenue
Education
Minnesota Transitions Chartered School
Minneapolis, MN
$88.3M
C+annual revenue
Education
Hmong Academy
Saint Paul, MN
$46.3M
Bannual revenue
Education
Reading & Math Inc
Minneapolis, MN
$90.2M
Bannual revenue
Education
St Paul Academy and Summit School
Saint Paul, MN
$45.8M
Bannual revenue
Compare Northstar Education Finance Inc
Frequently asked questions
- Is Northstar Education Finance Inc a legitimate nonprofit?
- Yes. Northstar Education Finance Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 41-1961427, based in Eden Prairie, Minnesota. Donations are tax-deductible.
- What is Northstar Education Finance Inc's EIN?
- Northstar Education Finance Inc's Employer Identification Number (EIN) is 41-1961427.
- How much revenue does Northstar Education Finance Inc report?
- Northstar Education Finance Inc reported $68,106,847 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Northstar Education Finance Inc's spending goes to programs?
- Northstar Education Finance Inc spends about 95% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Northstar Education Finance Inc have?
- CharityIndex grades Northstar Education Finance Inc A+, based on program efficiency and fundraising cost.
- How much does Northstar Education Finance Inc's highest-paid employee make?
- The highest reported compensation on Northstar Education Finance Inc's latest Form 990 is $100,000, paid to Taige Thornton (President).
More nonprofits in Eden Prairie
Explore more
Data for Northstar Education Finance Inc (EIN 41-1961427) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.