Overview
What is True Star Foundation Inc?
True Star Foundation Inc, based in Chicago, Illinois, is a nonprofit organization with a mission to provide creative opportunities in literary and professional development for youth. They achieve this by exposing young minds to real-world experiences in publishing, marketing, and entertainment fields. During the year, they maintained a program growth, serving 100-150 students per session, and even introduced a summer session for junior participants. Furthermore, they collaborated with State Farm to launch a safe driving campaign. The foundation operates with a small team of two dedicated individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Star rating)
True Star Foundation Inc has received an 86% score from Charity Navigator, which translates to a Three-Star rating. This score is based solely on the charity's accountability and finance measures, indicating a strong commitment to financial transparency and responsible management. The charity has achieved full marks in key areas such as having a completely independent board and a solid audit and oversight committee.
The organization demonstrates a significant level of accountability, with no reported material diversion of assets and a clear conflict of interest policy. Additionally, the foundation has an effective document retention and destruction policy and maintains thorough records of board meeting minutes. These practices highlight True Star Foundation Inc's dedication to maintaining high standards of governance.
However, the program expense ratio is slightly below the ideal percentage, with 67.08% of expenses allocated directly to programs. While this indicates a good commitment to programmatic spending, there may be room for improvement to further enhance the charity’s impact and effectiveness in its mission. Overall, the foundation showcases a strong financial and governance profile, making it a reliable choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is True Star Foundation Inc legitimate?
True Star Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. True 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: $168,955
Professional Fundraising Fees: $0
Other Salaries and Wages: $572,777
For more financial information, click here
What is the mission statement of True Star Foundation Inc?
The True Star Foundation Inc's mission is centered around providing a creative outlet for youth through literary and professional development programs. These programs aim to offer real-world experiences, specifically in the fields of publishing, marketing, and entertainment. The foundation's goal is to expose young individuals to various professional spheres, thereby broadening their horizons and preparing them for potential future careers. During the year, the foundation saw an increase in program participation, with each session serving between 100 to 150 students. Additionally, they introduced a True Star Jr. summer session and partnered with State Farm for a safe driving campaign.
Who is the CEO of True Star Foundation Inc?
Jequana Thompson is the Co-Exec Director of True Star Foundation Inc.
What is the revenue of True Star Foundation Inc?
True Star Foundation Inc's revenue in 2022 was $749,314.
Who are the executives of True Star Foundation Inc and what are their salaries?
The average compensation at True Star Foundation Inc during 2022 was $370,866. There are 2 employees and 10 volunteers at True Star Foundation Inc.
Here are 12 key members and their salaries:
- Compensation: $85,000
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- Other: $0
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Where can I find the form 990 for True Star Foundation Inc?
True Star Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of True Star Foundation Inc
True Star Foundation Inc, a nonprofit organization, is dedicated to providing a creative outlet for youth through literary and professional development programs. Their mission is to expose young individuals to real-world experiences, particularly in the fields of publishing, marketing, and entertainment. The foundation's programs aim to equip these youth with practical skills and knowledge, thereby broadening their horizons and preparing them for potential careers in these industries. Throughout the year, True Star Foundation Inc successfully maintained an increase in program attendance, with each session serving between 100 and 150 students. Additionally, the foundation introduced a True Star Jr summer session, further expanding its reach and impact on young minds. True Star Foundation Inc also partnered with State Farm, enabling its students to participate in a safe driving campaign, thereby promoting safety and awareness among the youth.
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Impact
October, 2024
True Star Foundation Inc significantly impacts youth by providing creative outlets in literary and professional development. Its programs engage 100-150 students in each session, exposing them to real-world experiences in publishing, marketing, and entertainment. Notable accomplishments include the implementation of the True Star Jr summer session and a partnership with State Farm, where students developed a safe driving campaign. This hands-on approach not only enhances skills but also fosters creativity and responsibility among young participants in Chicago, IL.
This information is meant to be a general summary of True 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 2022.
- Program Service Revenue: $267,191
- Gross Receipts: $754,619
Assets and Liabilities:
- Total Assets: $413,602
- Total Liabilities: $182,407
- Net Assets: $231,195
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Program Income
Revenue
$267,191
Organization Details
Founding Year
2006
Phone
(773) 383-6289Principal Officer
Jequana Thompson
Main Address
1130 S WABASH, CHICAGO, IL, 60605
NTEE Category
Code: A30 - Arts
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