Overview
What is Northstar Education Finance Inc?
Northstar Education Finance Inc is a nonprofit organization situated at 930 Blue Gentian Road 100, Eagan, MN, 55121. Their primary mission is to aid and encourage the pursuit of higher education by reducing its financial burden. They manage a portfolio of student loans, including approximately 94% federal Family Education Loan Program loans and 6% private student loans, totaling approximately $1.1 billion as of September 30, 2022. Northstar Education Finance Inc provides student borrowers with substantially more favorable benefits and interest rates compared to for-profit lenders. During fiscal years 2022 and 2021, the organization distributed repayment bonus distributions (interest rebates) worth approximately $4.2 million and $5.6 million, respectively, to eligible borrower accounts.
Official website here: www.northstar.org
Is Northstar Education Finance Inc legitimate?
Northstar Education Finance Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northstar Education Finance 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.
Here are some key statistics you may want to consider:
Executive Compensation: $381,128
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.northstar.org
What is the mission statement of Northstar Education Finance Inc?
Northstar Education Finance Inc is dedicated to facilitating the pursuit of higher education by reducing its financial burden. They accomplish this through their Total Higher Education (THE) Loan Program and a Grants Program. The organization manages a portfolio of over $1.1 billion in student loans, comprised mainly of Federal Family Education Loans and a smaller portion of private student loans. Northstar Education Finance Inc prides itself on offering student borrowers more favorable benefits and interest rates than for-profit lenders. During fiscal years 2022 and 2021, the organization distributed approximately $4.2 million and $5.6 million, respectively, in repayment bonus distributions (interest rebates) to eligible borrower accounts.
Official website here: www.northstar.org
Who is the CEO of Northstar Education Finance Inc?
Taige P Thornton is the Principal Officer of Northstar Education Finance Inc.
Official website here: www.northstar.org
What is the revenue of Northstar Education Finance Inc?
Northstar Education Finance Inc's revenue in 2022 was $40,177,777.
Official website here: www.northstar.org
Who are the executives of Northstar Education Finance Inc and what are their salaries?
- Charles Osborne (Chief Financial Officer & Treasurer)
- Taige Thornton (President) [Trustee/Director]
- John Emerick (Board Chair) [Trustee/Director]
- Clyde Nelson (Director)
- Richard Harris (Director)
- Mary Rothchild (Director)
- Tim Penny (Director)
- Elizabeth Anne Carrier Doran (Director)
- David Reiling (Director)
- Richard Nigon (Director)
- Sarah Duniway (Secretary)
Official website here: www.northstar.org
Where can I find the form 990 for Northstar Education Finance Inc?
The Northstar Education Finance Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.northstar.org
Learn more at the official website: www.northstar.org
Mission Statement of Northstar Education Finance Inc
Northstar Education Finance Inc is a mission-driven organization dedicated to fostering, aiding, encouraging, and assisting individuals in their pursuit of higher education. Through its Total Higher Education (THE) Loan Program and Grants Program, Northstar Education Finance Inc reduces the cost of higher education for students.
The organization's primary focus is on managing a portfolio of outstanding Federal Family Education Loan Program (approximately 94%) and private student loans (approximately 6%), totaling approximately $1.1 billion as of September 30, 2022. Northstar Education Finance Inc prides itself on providing student borrowers with more favorable benefits and interest rates than for-profit lenders.
During fiscal years 2022 and 2021, Northstar Education Finance Inc made significant repayment bonus distributions, totaling approximately $4.2 million and $5.6 million, respectively. These interest rebates were processed as credits to eligible borrower accounts. By offering such incentives, Northstar Education Finance Inc demonstrates its commitment to making higher education more accessible and affordable for students.
Impact
This information is meant to be a general summary of Northstar Education Finance Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Northstar Education Finance Inc's impact lies in its mission to foster, aid, encourage, and assist the pursuit of higher education by managing a portfolio of outstanding federal family education loan program and private student loans totaling approximately $1.1 billion as of September 30, 2022. The organization aims to reduce the cost of higher education by providing substantially more favorable benefits and interest rates to student borrowers compared to for-profit lenders. Additionally, Northstar Education Finance Inc distributed repayment bonus distributions, totaling approximately $4.2 million in fiscal year 2022 and $5.6 million in fiscal year 2021, as interest rebates to eligible borrower accounts. This demonstrates the organization's commitment to supporting students in their pursuit of higher education by offering financial support and reducing the burden of student loans.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT LOAN INTEREST
Revenue
$39,682,064
Organization Details
Founding Year
2000
Phone
(402) 458-2370
Principal Officer
Taige P Thornton
Main Address
930 BLUE GENTIAN ROAD 100, EAGAN, MN, 55121
Website
www.northstar.org
NTEE Category
Code: W60 - Public benefit
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