Nonprofit · EIN 41-1961427
NORTHSTAR EDUCATION FINANCE INC
Tax-exempt · EDEN PRAIRIE, MN 55344
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $51,293,468 | $56,826,701 | -$5,533,233 | $727,711,214 | $571,884,799 | $155,826,415 |
| September 30, 2024 | 990 | $68,106,847 | $66,966,127 | $1,140,720 | $825,640,988 | $666,178,323 | $159,462,665 |
| September 30, 2023 | 990 | $72,587,293 | $74,896,134 | -$2,308,841 | $1,017,887,615 | $858,957,547 | $158,930,068 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $47,019,356
- Investment income
- $4,274,112
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $12,424,625
- Compensation of officers, directors and key employees
- $388,769
- Salaries, compensation and benefits (total)
- $388,769
- Professional fundraising fees
- $0
- Legal fees
- $849,346
- Accounting fees
- $98,735
- Travel
- $1,772
- Depreciation
- $282,584
- Program services (functional)
- $54,713,079
- Management and general (functional)
- $2,113,622
Balance sheet and other
- Total assets, start of year
- $825,640,988
- Total assets, end of year
- $727,711,214
- Total liabilities, end of year
- $571,884,799
- Net assets, end of year
- $155,826,415
- Publicly traded securities
- $6,306,738
- Net assets without donor restrictions
- $155,826,415
- Gross receipts
- $51,293,468
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2000
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TAIGE THORNTON | PRESIDENT Trustee or director, Officer | 15 | $100,000 |
| CHARLES OSBORNE | CFO & TREASURER Officer | 15 | $99,374 |
| JOHN EMERICK | BOARD CHAIR Trustee or director, Officer | 1 | $37,500 |
| CLYDE NELSON | DIRECTOR Trustee or director | 1 | $27,500 |
| MARY ROTHCHILD | DIRECTOR Trustee or director | 1 | $27,500 |
| RICHARD HARRIS | DIRECTOR Trustee or director | 1 | $27,500 |
| RICHARD NIGON | DIRECTOR Trustee or director | 1 | $20,500 |
| DAVID REILING | DIRECTOR Trustee or director | 1 | $16,250 |
| PAUL MANIFFA | DIRECTOR Trustee or director | 1 | $7,250 |
| ZER VANG | DIRECTOR Trustee or director | 1 | $6,500 |
| TIM KOSIEK | DIRECTOR Trustee or director | 1 | $0 |
| SARAH DUNIWAY | SECRETARY Officer | 0 | $0 |
990 for the year ended September 30, 2024: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TAIGE THORNTON | PRESIDENT Trustee or director, Officer | 15 | $100,000 |
| CHARLES OSBORNE | CHIEF FINANCIAL OFFICER & TREASURER Officer | 15 | $89,482 |
| JOHN EMERICK | CHAIR Trustee or director, Officer | 1 | $37,500 |
| CLYDE NELSON | DIRECTOR Trustee or director | 1 | $27,500 |
| MARY ROTHCHILD | BOARD MEMBER Trustee or director | 1 | $27,500 |
| RICHARD HARRIS | DIRECTOR Trustee or director | 1 | $27,500 |
| ELIZABETH ANNE CARRIER DORAN | DIRECTOR (RETIRED) 12/2023 Trustee or director | 1 | $18,500 |
| RICHARD NIGON | DIRECTOR Trustee or director | 1 | $17,750 |
| DAVID REILING | DIRECTOR Trustee or director | 1 | $16,250 |
| SARAH DUNIWAY | SECRETARY Officer | 1 | $0 |
| GREG LARSON | SECRETARY Officer | 1 | $0 |
990 for the year ended September 30, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TAIGE THORNTON | PRESIDENT Trustee or director, Officer | 15 | $100,000 |
| CHARLES OSBORNE | CHIEF FINANCIAL OFFICER & TREASURER Officer | 15 | $86,159 |
| JOHN EMERICK | BOARD CHAIR Trustee or director, Officer | 1 | $37,500 |
| CLYDE NELSON | DIRECTOR Trustee or director | 1 | $27,500 |
| RICHARD HARRIS | DIRECTOR Trustee or director | 1 | $27,500 |
| MARY ROTHCHILD | DIRECTOR Trustee or director | 1 | $27,500 |
| TIM PENNY | DIRECTOR Trustee or director | 1 | $20,500 |
| ELIZABETH ANNE CARRIER DORAN | DIRECTOR Trustee or director | 1 | $19,000 |
| RICHARD NIGON | DIRECTOR Trustee or director | 1 | $19,000 |
| DAVID REILING | DIRECTOR Trustee or director | 1 | $17,000 |
| SARAH DUNIWAY | SECRETARY Officer | 3 | $0 |
Address and contacts
- Address (IRS master file)
- 9855 W 78TH ST 012, EDEN PRAIRIE, MN 55344-8003
- Principal officer (990 for 2024)
- TAIGE P THORNTON, 9855 W 78TH ST 012, EDEN PRAIRIE, MN 553448016
- Signed the 990
- CHARLES M OSBORNE, CFO & TREASURER
- Phone
- (612) 239-7131
- Website
- WWW.NORTHSTAR.ORG
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
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 accomplishments
- MANAGE A PORTFOLIO OF FFELP (95%) AND PRIVATE (5%) 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 $605 MILLION AS OF 9/30/2025. 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.Expenses $42,288,454 · revenue $47,019,356
- 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.Expenses $12,424,625 · grants $12,424,625
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 41-1961427
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2003
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B822)
- Assets (IRS master file)
- $727,711,214
- Income (IRS master file)
- $51,293,468
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $51,293,468 | $56,826,701 | $727,711,214 | IRS |
| 990 | September 2024 | $68,106,847 | $66,966,127 | $825,640,988 | XML |
| 990 | September 2023 | $72,587,293 | $74,896,134 | $1,017,887,615 | XML |
| 990 | September 2022 | $40,177,777 | $46,030,875 | $1,293,468,719 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1961427).
Questions about NORTHSTAR EDUCATION FINANCE INC
- What is the EIN of NORTHSTAR EDUCATION FINANCE INC?
- The employer identification number (EIN) of NORTHSTAR EDUCATION FINANCE INC is 41-1961427.
- Is NORTHSTAR EDUCATION FINANCE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2003.
- Are donations to NORTHSTAR EDUCATION FINANCE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NORTHSTAR EDUCATION FINANCE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NORTHSTAR EDUCATION FINANCE INC due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NORTHSTAR EDUCATION FINANCE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of NORTHSTAR EDUCATION FINANCE INC?
- The 990 for the year ended September 30, 2025 names TAIGE P THORNTON.
- Who are the officers and directors of NORTHSTAR EDUCATION FINANCE INC?
- The 990 for the year ended September 30, 2025 lists 12 people; 10 received compensation from the organization, the highest $100,000 (TAIGE THORNTON, PRESIDENT).
- How much revenue does NORTHSTAR EDUCATION FINANCE INC have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $51,293,468, expenses of $56,826,701 and total assets of $727,711,214 at year end.
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