Northstar Education Finance Inc
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.
Northstar Education Finance Inc at a glance
In short: Northstar Education Finance Inc gave $12.4M across 9 grants in 2025 (avg $1.4M), mostly in Minnesota. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $12,424,625
- +189.0% vs 2024
- Grants made (2025)
- 9
- +125.0% vs 2024
- Average grant
- $1,380,514
- +28.4% vs 2024
- Median grant
- $492,500
- Total assets
- $727,711,214
- -11.9% vs 2024
- Primary geography
- Minnesota (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Northstar Education Finance Inc funds
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2025
The largest 2025 recipient was Wallin Education Foundation ($8.4M). Together the top 7 received $11.8M.
Organizations only. It also paid 2 grants to individuals ($580,050), which are not listed by name.
Grant Size Distribution
25 grants across all recorded years
The most common grant size was in the $100–250K range: 8 grants of 25 (32%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 9 itemized grants.
States
Cities
How Northstar Education Finance Inc gives
- Giving grew 159% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $3.2M (2019) to $12.4M (2025). In 2025 it made 9 grants totaling $12.4M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Wallin Education Foundation St. Paul, MN | Scholarships and Associated Program Support | $8,374,379 |
| College Possible St. Paul, MN | Scholarships and Associated Program Support | $1,447,000 |
| Achieve Twin Cities Minneapolis, MN | College Counseling and Student Transition Programming | $530,696 |
| Junior Achievement North Foundation St. Paul, MN | Construction and Program Development | $500,000 |
| Page Education Foundation Minneapolis, MN | Scholarships, Program Operations | $492,500 |
| 2 grants to individuals Recipients not named | — | $580,050 |
| St Catherine University St. Paul, MN | Scholarships | $250,000 |
| University of Minnesota Foundation Minneapolis, MN | Scholarships | $250,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $727,711,214 | $51,293,468 | $56,826,701 | $12,424,625 | 9 | $4,274,112 |
| 2024 | $825,640,988 | $68,106,847 | $66,966,127 | $4,299,296 | 4 | $5,139,885 |
| 2023 | $1,017,887,615 | $72,587,293 | $74,896,134 | $4,671,075 | 4 | $3,430,822 |
| 2022 | $1,293,468,719 | $40,177,777 | $46,030,875 | $4,788,142 | 4 | $495,713 |
| 2021 | $1,589,111,391 | $37,569,277 | $40,312,776 | $4,929,600 | 4 | $355,132 |
| 2020 | $1,832,708,530 | $62,829,137 | $61,619,712 | $3,794,767 | 5 | $1,000,588 |
| 2019 | $2,126,920,671 | $92,237,647 | $96,882,154 | $3,160,933 | 5 | $1,793,896 |
About Northstar Education Finance Inc
Based on IRS filings
Northstar Education Finance Inc is a public charity focused on Education, based in Eden Prairie, MN. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $727.7M in total assets. In 2025, it awarded 9 grants totaling $12.4M. Net investment income was $4.3M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Northstar Education Finance Inc is led by Taige Thornton, President on every filing since 2019; 10 of 12 officers listed in 2025 are compensated.
Officers on the 2025 filing
Taige Thornton
President
On filings since 2019
15 hrs/week
$35K (2019) → $100K (2025)
John Emerick
Board Chair
Board Chair → Chair, 2024
Chair → Board Chair, 2025
On filings since 2020
1 hr/week
$7K (2020) → $38K (2025)
Clyde Nelson
Director
Treasurer → Director, 2022
On filings since 2019
1 hr/week
$24K (2019) → $28K (2025)
David Reiling
Director
Board Member → Director, 2022
On filings since 2019
1 hr/week
$15K (2020) → $16K (2025)
Mary Rothchild
Director
Director → Board Member, 2024
Board Member → Director, 2025
On filings since 2019
1 hr/week
$13K (2020) → $28K (2025)
Richard Harris
Director
Board Member → Director, 2022
On filings since 2019
1 hr/week
$18K (2019) → $28K (2025)
Richard Nigon
Director
President → Board Member, 2020
Board Member → Director, 2022
On filings since 2019
1 hr/week
$34K (2019) → $21K (2025)
Paul Maniffa
Director
New on the 2025 filing
1 hr/week
$7K (2025)
Zer Vang
Director
New on the 2025 filing
1 hr/week
$7K (2025)
Tim Kosiek
Director
New on the 2025 filing
1 hr/week
No compensation reported
Charles Osborne
CFO & Treasurer
Chief Financial Officer → Chief Financial Officer & Treasurer, 2022
Chief Financial Officer & Treasurer → CFO & Treasurer, 2025
On filings since 2019
15 hrs/week
$95K (2019) → $99K (2025)
Sarah Duniway
Secretary
On filings since 2019
No compensation reported
Former officers (5)
- Former: Elizabeth Anne Carrier Doran (2019–2024) — Director
- Former: Greg Larson (2024) — Secretary
- Former: Tim Penny (2019–2023) — Director
- Former: Anita Pampusch (2019–2021) — Board Chair
- Former: Jayne Baccus Khalifa (2019) — Board Member
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $100K, to Taige Thornton (President). 10 officers or directors reported compensation on that filing.
Frequently asked questions about Northstar Education Finance Inc
How much does Northstar Education Finance Inc give each year?
Northstar Education Finance Inc gave $12.4M across 9 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $4.3M across 4 grants.
What is Northstar Education Finance Inc's typical grant size?
Northstar Education Finance Inc's median grant in 2025 was $492,500, and its average grant was $1,380,514, across 9 grants on its 2025 IRS Form 990.
Where does Northstar Education Finance Inc give grants?
Northstar Education Finance Inc gives mostly in Minnesota: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were St. Paul, MN (4 grants) and Minneapolis, MN (3 grants).
Does Northstar Education Finance Inc give general operating support?
Not in 2025: none of the 9 grants with a stated purpose on Northstar Education Finance Inc's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Scholarships" (3 grants).
Who are Northstar Education Finance Inc's largest grantees?
Northstar Education Finance Inc's largest 2025 grantees include Wallin Education Foundation ($8,374,379), College Possible ($1,447,000) and Achieve Twin Cities ($530,696), according to its 2025 IRS Form 990. It also paid 2 grants to individuals ($580,050), which are not listed by name. Together they received 83% of its itemized 2025 grant dollars.
How large is Northstar Education Finance Inc?
Northstar Education Finance Inc reported $727.7M in total assets on its 2025 IRS Form 990. Its revenue that year was $51.3M.
What is Northstar Education Finance Inc?
Northstar Education Finance Inc is a public charity focused on Education, based in Eden Prairie, MN. It holds $727.7M in total assets as of 2025.
What is Northstar Education Finance Inc's EIN?
Northstar Education Finance Inc's EIN (Employer Identification Number) is 41-1961427. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2019 (received by the IRS February 12, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS February 23, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS February 21, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS February 28, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS March 1, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS March 20, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 4, 2026)
- IRS filings on file for fiscal years 2019–2024
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