Overview
What is Star Foundation Inc?
Star Foundation Inc, based in Norwalk, Connecticut, is a nonprofit organization that plays a significant role in grant distribution. Their mission lies in supporting various nonprofit organizations by providing financial aid for their initiatives. As per the provided information, they recently awarded grants worth $12,500, with $2,500 going to The Arc of Connecticut - Harvest of Hope as a Platinum Sponsorship and $10,000 to the Westport Book Sale Ventures, Inc. Employment Training Program. The Star Foundation Inc actively contributes to the work of these nonprofits, aiding them in their respective activities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Zero-Star out of Four Star rating. Overall Score: 27%.
Star Foundation Inc has received a zero-star rating from Charity Navigator, indicating significant concerns regarding its financial practices and transparency. The organization boasts 100% independent board members, which is a positive aspect, but it falls short in several critical areas such as providing financial statements and having essential policies in place. These deficiencies have contributed to a very low overall score.
While the foundation has shown no material diversion of assets, its lack of transparency is concerning. The absence of a website listed on its tax form, conflict of interest policy, and whistleblower policy raises questions about its governance practices. Additionally, the program expense ratio is low at 30.17%, suggesting limited funds are being directed toward its programs, which could affect its effectiveness.
In summary, the overall rating reflects serious issues in accountability and financial management at Star Foundation Inc. Stakeholders should consider these factors carefully when evaluating the foundation's impact and reliability.
This AI summary has been generated from information found on Charity Navigator.
Is Star Foundation Inc legitimate?
Star Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Star Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $406
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Star Foundation Inc?
Star Foundation Inc's mission is centered around directing grants to various nonprofit organizations, enabling them to carry out their activities effectively. Specifically, the foundation awards grants to support various initiatives, as demonstrated by their recent grant of $2,500 to the Arc of Connecticut for Harvest of Hope (a Platinum sponsorship) and a $10,000 grant to Westport Book Sale Ventures, Inc.'s employment training program. By providing financial assistance to these organizations, Star Foundation Inc. plays a crucial role in furthering their respective missions and contributing to various causes.
What is the revenue of Star Foundation Inc?
Star Foundation Inc's revenue in 2023 was $696,621.
Who are the executives of Star Foundation Inc and what are their salaries?
There 5 volunteers at Star Foundation Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Star Foundation Inc?
Star Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Star Foundation Inc
Star Foundation Inc, as revealed in the provided information, is an organization that dedicates its resources to supporting various nonprofit organizations by providing them with grants. This philanthropic entity channels its funds to these organizations, enabling them to carry out their respective activities more effectively. In particular, the information discloses two recipients of Star Foundation Inc's grants: the Arc of Connecticut's Harvest of Hope, which received a Platinum sponsorship of $2,500, and Westport Book Sale Ventures, Inc., which received an employment training program grant of $10,000. The mission of Star Foundation Inc can be paraphrased as an institution that financially empowers nonprofit organizations, enabling them to expand their reach and enhance their impact in their respective fields.
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Impact
July, 2024
Star Foundation Inc's impact can be seen in its direct support of organizations like The Arc of Connecticut and Westport Book Sale Ventures, Inc. Through grants totaling $12,500, they have provided crucial funding to help these organizations further their missions. This support enables The Arc of Connecticut to continue their Harvest of Hope program and empowers Westport Book Sale Ventures, Inc. to enhance their employment training program. By channeling resources to these organizations, Star Foundation Inc is making a tangible difference in the human services sector, improving the lives of individuals in need.
This information is meant to be a general summary of Star Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $68,743
- Gross Receipts: $696,621
Assets and Liabilities:
- Total Assets: $3,164,295
- Total Liabilities: $40,472
- Net Assets: $3,123,823
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Organization Details
Founding Year
1993
Principal Officer
Katie J Banzhaf
NTEE Category
Code: P80Z - Human services
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