Northstar Education Finance
Northstar Education Finance reported $51.3 million in revenue and $56.8 million in expenses for the fiscal year ending September 30, 2025. Of every $100 it spent, $96.28 went to program services, $3.72 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 91.7% of the total. The highest compensation it reported for one person was $100,000 (PRESIDENT). Revenue fell 18% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending September 30, 2025 · Form 990, Part IX, line 25 · total expenses $57MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending September 30, 2025 · Form 990, Part VIII · total revenue $51MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 96.3% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 3.7% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.0% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 91.7% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $100,000 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.18% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 0 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 32.9 | 13.3 |
| Independent voting board members Part VI 1a–1b | 7 of 9 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseManage 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
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT Director/trustee, officer, 15.00 hrs/week | $100,000 | $0 | $0 | $100,000 |
| CFO & TREASURER Officer, 15.00 hrs/week | $99,374 | $0 | $0 | $99,374 |
| BOARD CHAIR Director/trustee, officer, 1.00 hrs/week | $37,500 | $0 | $0 | $37,500 |
| DIRECTOR Director/trustee, 1.00 hrs/week | $27,500 | $0 | $0 | $27,500 |
| DIRECTOR Director/trustee, 1.00 hrs/week | $27,500 | $0 | $0 | $27,500 |
| DIRECTOR Director/trustee, 1.00 hrs/week | $27,500 | $0 | $0 | $27,500 |
| DIRECTOR Director/trustee, 1.00 hrs/week | $20,500 | $0 | $0 | $20,500 |
| DIRECTOR Director/trustee, 1.00 hrs/week | $16,250 | $0 | $0 | $16,250 |
0 people received more than $100,000 in reportable compensation from Northstar Education Finance (Part VII, line 2). Compensation of current officers, directors and key employees totaled $389K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b9 · 7 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 50
Correct a figure or respond
Every number above is copied from Northstar Education Finance's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Northstar Education Finance, you can publish a response that is linked from this page.
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Of every $100 Northstar Education Finance spent in FY2025, $96.28 went to programs. The full breakdown, from its IRS Form 990:
Questions people ask
How much of Northstar Education Finance's spending goes to programs?
In the fiscal year ending September 30, 2025, Northstar Education Finance reported that 96.3% of its $56.8 million in expenses went to program services, 3.7% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Northstar Education Finance pay its top executive?
The largest total compensation Northstar Education Finance reported for one person in the fiscal year ending September 30, 2025 was $100,000, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Northstar Education Finance get its money?
Of $51.3 million in revenue in the fiscal year ending September 30, 2025, 0.0% came from contributions and grants and 91.7% from program service revenue (Form 990, Part VIII).
Is Northstar Education Finance a registered charity?
The IRS lists EIN 41-1961427 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending September 30, 2025, object 202631249349301213 · read the filing
- FY2024: Form 990 for the fiscal year ending September 30, 2024, object 202510799349301601 · read the filing
- FY2023: Form 990 for the fiscal year ending September 30, 2023, object 202420619349300612 · read the filing
- FY2022: Form 990 for the fiscal year ending September 30, 2022, object 202320599349301112 · read the filing
- FY2021: Form 990 for the fiscal year ending September 30, 2021, object 202230529349301063 · read the filing
- FY2020: Form 990 for the fiscal year ending September 30, 2020, object 202130549349300928 · read the filing
All filings for EIN 41-1961427: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.