NORTHSTAR EDUCATION FINANCE INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

TAIGE P THORNTON

Phone

6122397131

Tax Period

2023-10-01 to 2024-09-30

NORTHSTAR EDUCATION FINANCE INC, founded in 2000, is a mid-sized nonprofit in the Education sector that reported $68.1M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Net assets of $159.5M represent 28 months of operating reserves.

Mission

TO FOSTER, AID, ENCOURAGE AND ASSIST THE PURSUIT OF HIGHER EDUCATION BY REDUCING THE COST OF HIGHER EDUCATION THROUGH THE TOTAL HIGHER EDUCATION (THE) LOAN PROGRAM AND ADDITIONALLY THROUGH A GRANTS PROGRAM.

Program Service Accomplishments

Program 1

Expenses: $59,542,747 Revenue: $62,966,962

MANAGE A PORTFOLIO OF FFELP (94%) AND PRIVATE (6%) STUDENT LOANS. DUE TO CHANGES IN THE FEDERAL STUDENT LOAN PROGRAM, THE ORGANIZATION IS NO LONGER ORIGINATING ANY NEW FFELP OR PRIVATE LOANS, BUT THE ORGANIZATION CONTINUES TO MANAGE AN OUTSTANDING BALANCE OF APPROXIMATELY $692 MILLION AS OF 9/30/2024. TO THE BEST OF THE KNOWLEDGE AND BELIEF OF THE ORGANIZATION'S OFFICERS, THE BENEFITS AND INTEREST RATES PROVIDED TO STUDENT BORROWERS ARE MORE FAVORABLE THAN THOSE FROM FOR-PROFIT LENDERS. IN THE FISCAL YEAR ENDED 2023, THE ORGANIZATION MADE T.H.E. REPAYMENT BONUS DISTRIBUTIONS (INTEREST REBATES) TOTALING APPROXIMATELY $181 THOUSAND.

Program 2

Expenses: $4,299,546

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...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $62,966,962

Investment Income $5,139,885

Other Revenue $0

TOTAL REVENUE $68,106,847

Expense Breakdown

Grants Paid $4,299,546

Salaries & Benefits $371,126

Fundraising Expenses $0

Program Expenses $63,842,293

Other Expenses $62,295,455

TOTAL EXPENSES $66,966,127

Year-over-Year Comparison

	2023	2022	Change
Revenue	$68,106,847	$72,587,293	-0.1%
Expenses	$66,966,127	$74,896,134	-0.1%
Net Income	$1,140,720	$-2,308,841	-1.5%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$226,982

Total Directors

$272,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TAIGE THORNTON	PRESIDENT	15.00	Officer Director	$100,000	$0	$100,000
JOHN EMERICK	CHAIR	1.00	Officer Director	$37,500	$0	$37,500
CLYDE NELSON	DIRECTOR	1.00	Director	$27,500	$0	$27,500
MARY ROTHCHILD	BOARD MEMBER	1.00	Director	$27,500	$0	$27,500
RICHARD HARRIS	DIRECTOR	1.00	Director	$27,500	$0	$27,500
ELIZABETH ANNE CARRIER DORAN	DIRECTOR (RETIRED) 12/2023	1.00	Director	$18,500	$0	$18,500
RICHARD NIGON	DIRECTOR	1.00	Director	$17,750	$0	$17,750
DAVID REILING	DIRECTOR	1.00	Director	$16,250	$0	$16,250
CHARLES OSBORNE	CHIEF FINANCIAL OFFICER & TREASURER	15.00	Officer	$89,482	$0	$89,482
SARAH DUNIWAY	SECRETARY	1.00	Officer	$0	$0	$0
GREG LARSON	SECRETARY	1.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$68,106,847	$66,966,127	$825,640,988	$1,140,720
2023	$72,587,293	$74,896,134	$1,017,887,615	$-2,308,841
2022	$40,177,777	$46,030,875	$1,293,468,719	$-5,853,098
2021	$37,569,277	$40,312,776	$1,589,111,391	$-2,743,499
2020	$62,829,137	$61,619,712	$1,832,708,530	$1,209,425
2019	$92,237,647	$96,882,154	$2,126,920,671	$-4,644,507
2018	$82,834,795	$89,169,131	$2,465,068,153	$-6,334,336